The production of direct reduced iron (DRI), also known as sponge iron, registered a compound annual growth rate (CAGR) of 8 per cent in India to 51.5 metric tonnes (MT) in fiscal 2024 from 34.7 MT in fiscal 2019, outpacing the 5 per cent growth in crude steel output, a report showed on Monday.

India is the largest DRI producer in the world with its production set to rise above 75 MT by fiscal 2030 from 51.5 MT in fiscal 2024, according to a Crisil report.

Small and mid-sized players accounted for 71 per cent of domestic DRI production in fiscal 2024, with large players accounting for the rest.

Demand for DRI comes from long steel manufacturing. The share of long steel production rose from 51.5 per cent in fiscal 2019 to 54.8 per cent in fiscal 2024 driven by construction and infrastructure activities.

The scheduled launch of an H2A rocket carrying an information-gathering satellite from a space centre on a southwestern Japan island was postponed on Monday for a second time, the rocket manufacturer said.

Mitsubishi Heavy Industries Ltd. said it decided to postpone the launch of rocket No. 49 from Tanegashima Space Center on Tanegashima Island in Kagoshima Prefecture, scheduled for the afternoon on the day, because of unsuitable wind conditions in the upper atmosphere, news agency reported.

The winds expected to blow over the space centre around the scheduled launch time do not meet the criteria for liftoff, Mitsubishi Heavy said, adding that a new date has yet to be fixed.

At least three people were killed and eight others injured in a traffic accident in Turkey on Monday, reports said.

A truck and a passenger minibus reportedly collided in the Ceyhan district of the Adana province, news agency reported quoting the semi-official Anadolu Agency.

The injured were hospitalised, and an investigation has been launched to find the cause of the accident, Anadolu said, adding that the drivers have not yet been identified.

Official data show that in Turkey in 2023, road traffic accidents involving death or injury increased to 235,771, up 19.2 per cent from the previous year.

Sri Guru Granth Sahib World University, Fatehgarh Sahib celebrated a significant milestone with its Offer Letter Distribution Ceremony, recognizing students who have secured placements during the latest campus placement drive. The event highlighted the achievements of students who have received job offers from renowned companies across various sectors.

New Zealand has released a draft critical minerals list, which is said to be essential to the economy and mineral resilience, for consultation.

The list identifies 35 minerals that are essential to economic functions, in demand internationally, and face a high risk of supply disruption domestically and internationally, Resources Minister Shane Jones said on Sunday.

The draft list considers minerals that are needed internationally where New Zealand may be able to contribute to supply, reports news agency, quoting the minister.

As many as 362 climbers from 54 countries and regions, including 88 women, have received permission to scale ten mountains in Nepal for the fall season on Monday.

Among the climbers, 308 have been granted permission to climb Mount Manaslu, the world's eighth-highest peak at 8,163 metres, and 14 for Mount Dhaulagiri, the seventh-highest at 8,167 metres, according to Nepal's Department of Tourism.

The government has collected US$300,525 in royalty fees from issuing the permits, news agency reported.

An explosion was reported in Germany's Cologne city early on Monday, causing some damage to a building, local media said.

The NRW-Koln Police, in an X post in German, only announced that it had launched a "major police operation in area #Hohenzollernring" and that the area was closed "between Rudolfplatz and Friesenplatz" and citizens should avoid the area.

Subsequently, it posted that the traffic closures on Hohenzollernring had been lifted, and further information on the police operation would follow shortly.

Local media outlet cited a police spokeswoman telling it that an explosion occurred between Rudolfplatz and Ehrenstrasse at around 5.50 a.m. "We have cordoned off a wide area and the investigation is ongoing," said the spokeswoman.

In a remarkable achievement of the country’s fintech ecosystem, the Account Aggregator (AA) framework is now being used to facilitate loan disbursement worth about Rs 4,000 crore a month, a report showed on Monday.

The lending firms have used the AA framework to facilitate loans worth Rs 42,300 crore since September 2021 till March 2024, with cumulative average loan ticket size at Rs 1,00,237 for the same period, according to Sahamati, an industry alliance for the AA ecosystem in the country.

The growth surge is indicated by total loans disbursed at 21.2 lakh with Rs 22,100 crore in disbursements facilitated by AAs in the second half of this fiscal (FY25).

Average loan ticket size in this period stood at Rs 1,04,245 and is expected to reduce “as we expect more cash- flow based lending to MSMEs and unsecured loans to new to credit customers,” the report mentioned.

Karnataka Police detained four minors on Monday for raising a Palestinian flag while riding a bike in Chikkamagaluru district, police sources confirmed. The detained minors are being questioned regarding the incident.

The boys are being asked how they obtained the Palestinian flag and whether they were instructed to ride around the city holding the flag or if they acted on their own.

A police team, headed by an Inspector, has been formed to investigate the incident.

The police department is taking the case seriously and conducting a thorough probe.

Sri Lanka all-rounder Dunith Wellalage has been crowned the ICC Men’s Player of the Month for August 2024 following his exceptional all-round performances against India.

The 21-year-old left-arm spinner and battter outshone South Africa’s Keshav Maharaj and West Indies’ Jayden Seales to claim the prestigious award.

Wellalage’s contributions were instrumental in Sri Lanka’s historic ODI series victory over India, their first bilateral series win against the cricketing giants since 1997.

Despite India being heavy favourites, bolstered by the return of stars like Virat Kohli and Rohit Sharma, Wellalage’s brilliant all-round display helped Sri Lanka overcome the formidable challenge.