Indian Bank’s gold loan at 7% for farmers

The state-owned lender has cut interest rate on its short-term gold loan scheme — Bumper Agri Jewel — from 7.5%

Indian Bank has slashed its interest rate on gold loans offered to farmers to 7%.

The state-owned lender has cut interest rate on its short-term gold loan scheme — Bumper Agri Jewel — from 7.5%.

The reduction has been done considering the pandemic situation and also to provide easy credit to needy farmers at a cheaper cost, it said.

With effect from July 22, agricultural jewel loans are sanctioned at 7% fixed, which means it is only ₹583 per lakh per month. The bank lends up to 85% of the ornament value, repayable in six months.

US coronavirus: Florida isolation centres used to shield elderly

The coronavirus pandemic has taken a heavy toll on Florida’s elderly residents.

Florida is one of the states where infections are surging and now COVID-19 isolation centres are being set up.

They are designed to stop the disease from spreading among the elderly and vulnerable people.

But the strategy is not without risks.

Al Jazeera’s Andy Gallacher reports from Miami, US.

UK: Millions miss cancer screening and treatment due to COVID-19

Many treatments, tests and screenings were paused as staff were diverted to deal with the coronavirus pandemic and because of safety concerns.

In the United Kingdom, about two million people are waiting for cancer screenings or treatment.

Waiting lists have been getting longer as the public health service prioritised COVID-19.

Al Jazeera’s Emma Hayward reports.

Small plane crashes into house in Germany, killing three people

BERLIN (REUTERS) – A small aircraft crashed into a residential building in the German state of North-Rhine Westphalia, killing three people and injuring a child, police said on Saturday (July 25).

The roof of the apartment building in the town of Wesel caught fire after the microlight plane crashed into it, a police spokesman said.

Witnesses told local media that the aircraft had collided with a hot-air balloon shortly before the crash.

Jordan's Arab Bank group H1 net profits drop 66% to $152.1 mln

AMMAN, July 25 (Reuters) – Jordan’s largest lender, Arab Bank Group, reported a 66% year-on-year drop in first-half net profit to $152.1 million, saying its revenues were hit by the impact of the COVID-19 pandemic on the regional and global economies.

The bank, one of the Middle East’s major financial institutions, also said on Saturday that total loans rose 2% to $26.7 billion as of the end of June, while deposits climbed 5% to $35.9 billion. Group equity stood at $9.2 billion, it said (Reporting by Suleiman Al-Khalidi; Editing by Mark Potter)

Why the complete version of Tesla Full Self-Driving will take longer than Elon Musk says it will

During Tesla's 2019 Autonomy Day, Tesla CEO Elon Musk said the company is expected to have one million vehicles on the road by the end of 2020 that could function as robotaxis.

Though the semi-autonomous Autopilot and Full Self-Driving, or FSD, features are loved by some, others say Musk's driverless dream is far from becoming a reality.

CNBC explores how Tesla Autopilot and Full Self-Driving have evolved over the years, why they have been controversial and why the complete version of FSD has yet to be released. Watch the video to learn more.

NCLAT upholds Adani’s takeover plan for Dighi Port

Cites SC’s Essar ruling to dismiss promoter’s challenge

The National Company Law Appellate Tribunal (NCLAT), New Delhi, has rejected a plea by Vishal Vijay Kalantri, a former director and shareholder of Dighi Port Ltd., challenging the approval granted to the resolution plan submitted by Adani Ports Special Economic Zone Ltd. (APSEZ) after rejecting the promoter’s settlement offer.

Citing the Supreme Court verdict on Essar Steel, the appellate body noted that it was manifestly clear that judicial review of the resolution plan approved by lenders based on commercial wisdom could not be assailed, unless it was demonstrated as being contrary to the provisions of the law.

Greenfield port

The Mumbai Bench of the NCLT had approved APSEZ’s bid for Dighi Port, which is developing a greenfield port in Maharastra and owed lenders over ₹3,000 crore.

While Jawaharlal Nehru Port Trust (JNPT) was initially chosen over APSEZ by the committee of creditors (CoC), JNPT subsequently withdrew from the fray.

Revised bid wins

In a revised bid, the Adani group company offered ₹650 crore upfront, payment of insolvency process costs and dues payable to the ‘Maharashtra Maritime Board’ on a priority basis.

The promoter offered ₹680 crore to lenders, besides ₹50 crore against process costs, which the CoC rejected. The “case is yet another instance of the promoters not letting the goose escape from their dragnet, though it no more lays golden eggs,” the appellate tribunal observed in its ruling.

Water shortage fears: Sudan's fishermen concerned over dam

The lake is also facing another threat of climate change.

As the Grand Ethiopian Renaissance Dam nears completion, some communities in Sudan are concerned about the potential effect on their livelihoods.

Al Jazeera’s Hiba Morgan travelled to Lake Nubia, which is shared by Egypt and Sudan, to speak to farmers and fisherman about their concerns.

Zaldivar Copper Miners Accept Wage Deal, Averting Chile Strike

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Workers at Antofagasta Plc’s Zaldivar copper mine in Chile accepted a revised wage offer, averting a strike that threatened to add to supply concerns in the metal’s top-producing nation.

Union members voted 387 in favor of the definitive offer to 236 against in polling that ended Saturday, according to a union document, a copy of which was seen by Bloomberg.

The two sides had extended government-mediated talks in order to put the offer to union members. The accord comes after talks broke down during regular collective bargaining proceedings. To avoid a strike, Antofagasta requested a mediation process afforded under local labor law.

The wage accord eases Chilean supply concerns that have helped fuel a copper price rally. Mines that account for a quarter of global output have shelved non-essential activities to focus on operations during the pandemic.

Separately, supervisors at Antofagasta’s Centinela mine are also engaged in mediated talks with management. The two open pit mines are in the Antofagasta region of northern Chile. The company’s largest mine, Los Pelambres, is further south in Coquimbo.