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The country imported 23.4 lakh tonne of fertilisers, including urea and <keyword id="438994" type="General" weightage="20" keywordseo="Di-ammonium-Phosphate" source="Orion">Di-ammonium Phosphate</keyword> (<keyword id="175243" type="General" weightage="20" keywordseo="DAP" source="Orion">DAP</keyword>), in October this year, according to official data. Out of the total <keyword id="50549" type="General" weightage="20" keywordseo="fertiliser" source="Orion">fertiliser</keyword> imports, DAP was maximum at 14.70 lakh tonne, followed by urea at 4.60 lakh tonne, Muriate of <keyword id="212614" type="General" weightage="20" keywordseo="potash" source="Orion">Potash</keyword> (MoP) at 2.36 lakh tonne and complexes at 1.70 lakh tonne in the said month, the data showed. Meanwhile, the domestic production of fertilisers was 36.19 lakh tonne in October, lower than the target of 41.54 lakh tonne set for the month. Against the assessed requirement of 71.47 lakh tonne fertilisers for October, the availability was less at 64.28 lakh tonne, and sales stood at 53.34 lakh tonne during the period, as per the data. Barring urea and ammonia, prices of DAP and fertilisers had shown an increase in the global market in October when compared to the year-ago period. Urea is highly subsidised at Rs 5,360 per tonne in the country. The government also offers subsidies on other fertilisers to ensure the soil nutrients are available at affordable prices to the farming community. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/wellness-startup-dealing-with-male-menopause-raises-5-5-crore-in-pre-seed-funding/articleshow/95658901.cms">Wellness startup dealing with male menopause raises ₹5.5 crore in pre-seed funding</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/big-fat-indian-weddings-back-but-with-slimmer-guest-lists/articleshow/95657820.cms">Big fat Indian weddings back but with slimmer guest lists</a>

India imports 23.4 lakh tons of fertiliser in October

<ul><li>Drug pricing regulator NPPA's new notification caps prices of 42 cancer drugs </li><li>Roche, Biocon, Mylan, and Dr Reddy's Laboratories among companies that may be hit </li><li>The new notification has also fixed the retail margin on drug for type-2 diabetes</li></ul>India's National Pharmaceutical Pricing Authority (NPPA) has capped the prices of 42 medicines that are used to treat different types of cancers. The formulations whose retail prices have been fixed include Trastuzumab injection indicated for treatment of metastatic breast cancer and gastric cancer. The regulator has also fixed the prices for Metformin plus Gliclazide tablets used for treatment of type 2 diabetes, among others. Retail price of these drugs cannot be more than 30% over their cost of procurement. "Due to prevalent inequalities, out of pocket expenditure on medicines is the single largest contributor to pushing families beyond poverty threshold in the country. Thus, ensuring affordable drugs is a necessary pre-requisite for bringing down the overall healthcare expenses and to achieve the overall goal of affordable healthcare for all," the notification said. One major factor that contributes to high drug prices in India is unreasonable high trade margin. The high margins are in form of incentive and an indirect marketing tool employed by drug companies, the NPPA said citing the findings of the Competition Commission of India. Among the formulations whose ceiling prices have been revised include Budesonide inhalation used for preventing symptoms of asthma and Gentamicin injection used for treatment of bacterial infections. Here is the full list of cancer drugs who prices have been capped. 1 Azacitidine 2 Bendamustine Hydrochloride 3 Bortezomib 4 Crizotinib 5 Cytarabine 6 Dasatinib 7 Decitabine 8 Doxorubicin HCI Pegylated Liposomal Injection 9 Enzalutamide 10 Epirubicin 11 Eribulin mesylate 12 Erlotinib HCI 13 Estramustine phosphate 14 Everolimus 15 Exemestane 16 Fulvestrant 17 Irinotecan HCI Trihydrate 18 Lapatanib 19 Leuprolide acetate depot for Inj. 20 Lomustine 21 Mitoxantrone 22 Nilotinib 5 23 Plerixafor 24 Carfilzomib 25 Cladribine 26 Triptorelin 27 Pomalidomide 28 Osimertinib 29 Pegasperagase 30 Regorafenib 31 Ribociclib 32 Clofarabine 33 Sunitinib 34 Olaparib 35 Olaratumab 36 Paclitaxel (Protein-bound particles) 37 Cabazitaxel 38 Bevacizumab 39 Lenalidomide 40 Pegfilgrastim 41 Mitomycin 42 Pemetrexed

India has capped the retail prices of 42 cancer drugs

<ul class="summary-list"><li>The war in <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> has lifted <keyword id="13561385" type="UNKNOWN" weightage="60" keywordseo="fertilizer" source="Orion">fertilizer</keyword> prices, leading to concerns of a global food shortage.</li><li>Many low-income countries were struggling with hunger and pricey fertilizer before the invasion.</li></ul>In an era of abundant economic worries, the chaos in the world's fertilizer market is one of the most concerning.The war in Ukraine has boosted already high fertilizer prices. Russia serves as the world's top fertilizer exporter, selling <a href="https://oec.world/en/profile/hs92/fertilizers#:~:text=In%202020%2C%20the%20top%20exporters,and%20France%20(%241.83B).">some $7.6 billion worth of fertilizer</a> in 2020, according to data from the French research organization CEPII. Russia's invasion of Ukraine slammed both countries' abilities to trade, and in early March the Russian government called on fertilizer producers <a href="https://www.bloomberg.com/news/articles/2022-03-04/russia-calls-on-domestic-fertilizer-producers-to-halt-exports">to suspend exports entirely</a>.The new supply pressures have lifted prices at a stunning clip. The <a href="https://fertilizerpricing.com/priceindex/">Green Markets North America fertilizer-price index</a> — which tracks the costs of urea, potash, and diammonium phosphate — has soared by 42% since the invasion began in late February.Higher fertilizer prices may not seem worrisome for the average American — potash and urea don't show up on most people's grocery lists. But the prices of food staples like wheat are also soaring, risking hunger crises in low- and middle-income countries. Persistently higher fertilizer costs could turn food inflation into a lasting problem and plunge the world into a new kind of economic turmoil."I am deeply concerned that the violent conflict in Ukraine, already a catastrophe for those directly involved, will also be a tragedy for the world's poorest people living in rural areas who cannot absorb the price hikes of staple foods and <keyword id="11994879" type="UNKNOWN" weightage="60" keywordseo="farming" source="Orion">farming</keyword> inputs that will result from disruptions to global trade," said Gilbert Houngbo, the president of the UN's International Fund for Agricultural Development."We are already seeing price hikes, and this could cause an escalation of hunger and poverty with dire implications for global stability."<h2>Soaring fertilizer prices escalate food-shortage concerns</h2>The world was already short on food before Russia invaded Ukraine in late February. A <a href="https://www.fao.org/3/cb4474en/online/cb4474en.html#chapter-executive_summary">UN report on food security</a> estimated that between 720 million and 811 million people faced hunger in 2020 — an increase of as many as 161 million from 2019 — as the coronavirus crisis and economic recession hobbled poorer countries.The Russia-Ukraine conflict has only worsened the problem. <a href="https://markets.businessinsider.com/commodities/wheat-price">Wheat prices</a> have soared by 27% since the invasion began, with markets bracing for supply from both Russia and Ukraine to fade. While advanced economies can absorb higher costs and turn to alternatives, developing countries are stuck with few options aside from footing a larger bill.Fertilizer prices are also up about 260% from prepandemic levels, having been dented by higher energy costs and new export-licensing mandates imposed by major exporters like Russia and China.These higher costs are forcing farmers to scale back production or use less fertilizer and risk harvesting smaller yields. Some <a href="https://www.businessinsider.com/manure-big-business-high-demand-russia-ukraine-war-fertilizer-prices-2022-4">are clamoring for animal manure</a> to replace commercial nutrients. Even if the Russian invasion were to end soon and food inflation cooled, soaring fertilizer costs would have a delayed effect on the market and leave supply strained well into the future.Expensive crop nutrients hinder advanced economies' ability to fill the hole in the world's food supply. The US Department of <keyword id="11963490" type="UNKNOWN" weightage="60" keywordseo="agriculture" source="Orion">Agriculture</keyword> <a href="https://www.nass.usda.gov/Newsroom/2022/03-31-2022.php">said in late March</a> that it expected farmers in the US to plant less corn but a record amount of soybeans in 2022. Soybeans require less commercial fertilizer than corn, and a shift signals that farmers are gearing up for prolonged disruption in the fertilizer market.The uptick in fertilizer prices could even spark civil unrest in countries with unstable food supplies. Food-price shocks triggered riots in Haiti, Bangladesh, and Mozambique in 2007 and 2008, <a href="https://www.businessinsider.com/ukraine-russia-bread-food-prices-civil-unrest-arab-spring-egypt-2022-3">Insider's Jason Lalljee reported in March</a>. Food scarcity also played a role in the Arab Spring protests of the early 2010s as people struggling with hunger and poverty mobilized against their governments.Intense damage has already emerged in the world's most vulnerable countries. The UN's World Food Programme <a href="https://www.wfp.org/news/countdown-catastrophe-begins-yemen-funding-food-assistance-dwindles">said in late February</a> that it had been forced to halve food assistance for 8 million people facing hunger in Yemen. The program's executive director, David Beasley, said the combination of dwindling funds and soaring prices risked pushing millions of Yemenis into famine conditions."We have no choice but to take food from the hungry to feed the starving," Beasley said, adding, "This will be hell on earth."<h2>Pricey fertilizer worsens the world's inflation problem</h2>The fertilizer-price surge is also a major obstacle in the fight against inflation. Food prices are a major component of headline inflation measures; the category has a 14% weighting in the consumer price index, for example. If fertilizer prices don't fall back to earth, it could weigh on future crop yields and keep food supply well below US demand.The price surge also strikes at a weakness in the Federal Reserve's plan to quell price growth. The central bank <a href="https://www.businessinsider.com/federal-reserve-hikes-interest-rates-inflation-higher-costs-loans-mortgages-2022-3">started raising interest rates in March</a> partly in an effort to ease inflation. Higher borrowing costs help rein in demand for a range of goods, but people need to eat, and the Fed's plan to fight inflation can't do much to close the gap between food supply and demand.Inflation in other pockets of the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> is worsening the fertilizer problem. Energy prices have soared more than any other major CPI category, leaping by nearly 26% over the past year. Natural gas is one of those surging energy commodities and a crucial component in the production of commercial fertilizers. Rising natural-gas prices have already forced European fertilizer factories <a href="https://www.cnn.com/2022/03/09/business/food-costs-fertilizer-yara/index.html">to scale back production</a>, threatening an even bigger nutrient shortage in the months ahead.The world is adjusting somewhat to combat the new price pressures. The USDA announced in March that it would make $250 million available in the summer <a href="https://www.usda.gov/media/press-releases/2022/03/11/usda-announces-plans-250-million-investment-support-innovative#:~:text=USDA%20will%20make%20available%20%24250,production%20to%20supply%20American%20farmers.">to boost domestic fertilizer production</a>.But last-minute adjustments aren't likely to fully counter a fertilizer shortage. The world is already struggling to shoulder rising food costs, and there's little indication that the war in Ukraine will end soon. As farmers make do, elevated fertilizer prices loom over hungry countries and inflation-rattled economies.

The war in Ukraine is sending fertilizer prices through the roof. That could spark food shortages in countries already struggling with widespread hunger.

<ul class="summary-list"><li><keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> cut prices for its Chinese-market Model 3 sedans by up to 10%, as reported by Reuters.</li><li>The company will outfit future standard-range Chinese-made Model 3s with cheaper, cobalt-free battery packs, anonymous sources told Reuters recently.</li><li>Tesla did not confirm which batteries the standard-range car with the updated price currently uses. </li><li>The basic Model 3 now costs $249,900 yuan in China, around $36,800 at current exchange rates. </li></ul>Tesla cut the price of its Chinese-market Model 3 sedans by up to 10%, according to pricing listed on the <a href="https://www.tesla.cn/model3/design#battery">company's China website</a>. The move came the same week that sources told <a href="https://www.reuters.com/article/tesla-china/tesla-cuts-starting-price-for-china-made-model-3-cars-by-8-idUSKBN26M52U">Reuters</a> Tesla would move to a cheaper battery in certain Chinese-made Model 3s, but it wasn't clear whether that caused the price drop.A Shanghai-made Model 3 with standard driving range will now run you 249,900 yuan — roughly $36,800 at current exchange rates — after government subsidies. The base cars previously cost 271,550 yuan, or about $39,990, <a href="https://www.reuters.com/article/tesla-china/tesla-cuts-starting-price-for-china-made-model-3-cars-by-8-idUSKBN26M52U">Reuters</a> reported. The longer-range models also got price cuts, Reuters added. After subsidies, the long-range model now retails for 309,900 yuan, around $45,640 at current exchange rates. That's down from 344,050 yuan, or approximately $50,670.The price drops came not long after Reuters, citing unnamed sources, reported that the EV maker would outfit standard-range cars made in China with a <a href="https://www.businessinsider.com/tesla-use-cobalt-free-batteries-in-model-3-production-china-2020-9">new, cheaper battery pack</a>. It wasn't clear at the time of the report whether the cheaper battery would lower the cost of the Model 3, and Reuters said after the price drop that Tesla "did not disclose what batteries the cheaper version uses."Still, Reuters reported Wednesday that the new battery units would be lithium-iron-phosphate batteries, which are cheaper than the nickel-manganese-cobalt units the carmaker used previously. The new batteries would also be cobalt-free.Cobalt is one of the priciest metals used in EV-battery manufacturing, and its production is rife with problems. <a href="https://www.washingtonpost.com/politics/2019/02/21/demand-congos-cobalt-is-rise-so-is-scrutiny-mining-practices/">More than half</a> of the world's cobalt supply comes from the Democratic Republic of Congo, where its production includes human-rights violations such as <a href="https://www.wired.com/story/alternatives-to-cobalt-the-blood-diamond-of-batteries/">child mining labor</a>.Elon Musk has expressed plans to reduce Tesla's reliance on the controversial material, <a href="https://twitter.com/elonmusk/status/1006968985760366592">tweeting</a> in 2018 that the company's next-generation batteries will "use none."Telsa did not immediately respond to Business Insider's request for comment.<h2><a href="https://www.reuters.com/article/tesla-china/tesla-cuts-starting-price-for-china-made-model-3-cars-by-8-idUSKBN26M52U">Read the full Reuters story here.</a></h2>

Tesla drops China-made Model 3 price by up to 10% as it introduces cheaper batteries

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Americans often get a bad rap for having little knowledge of the world outside the 50 states, but some countries are so obscure that many people haven't heard of them.
In the United Nations, though, where every all 193 member states get a vote, even the smallest countries have a voice. And even small countries can be remarkable in their own way. Here are six obscure countries you should get to know.
<h3 class="p1">Lesotho</h3>
More than once, my friend from the tiny nation of Lesotho has had customs and immigration officers stare quizzically at her passport before Googling to see if the country was real. 
Lesotho is both in south Africa and, quite literally, in South Africa. The country, about 100 miles wide, is entirely surrounded by the larger nation of South Africa.
Lesotho's economy and security is almost entirely dependent on South Africa, and <a href="http://www.bbc.com/news/world-africa-13728324">the United</a> <a href="http://www.bbc.com/news/world-africa-13728324">Nations</a> says more than 40% of the population is "ultra-poor."
Although Lesotha is tiny, the country has spectacular canyons and mountains. It is one of the very few African nations that regularly sees snow.
<h3 class="p1"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Saint Vincent and the Grenadines</h3>
No, it's not a hipster cover band; Saint Vincent and the Grenadines is actually an archipelago of Islands in the Caribbean. 
St. Vincent refers to the country's main island, and the Grenadines refers to the top two-thirds of a chain of islands to the south.
St. Vincent and the Grenadines is amazingly beautiful. In fact, you've almost definitely already admired its sparkling seas, rugged jungles, and sandy shores. St. Vincent <a href="http://discoversvg.com/index.php/en/component/content/article/41-general/18-pirates">was the location</a> used for Disney's "Pirates of the Caribbean" movies. 
<h3 class="p1"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Benin</h3>
<a href="http://www.bbc.com/news/world-africa-13037572">According to the BBC</a>, Benin is one of Africa's most stable democracies.
Located in West Africa, Benin was once part of the Slave Coast, where imprisoned Africans were shipped across the Atlantic to slave-drivers.
Despite recent economic growth, Benin is one of the <a href="http://www.bbc.com/news/world-africa-13037572">world's poorest countries</a>. Cotton is one of its primary exports, and Benin continues to press Western countries to cut their subsidies to enable it to compete more fairly. 
Although you may not have heard of Benin, you have definitely heard of one of its major religions: Voodoo. 
Voodooism <a href="http://www.bbc.com/news/world-africa-13037572">is said to have originated in Benin</a>, and while it was banned for a time, it is now celebrated at an annual Voodoo Day (below). Far from being a mysterious and dark cult, Voodoo actually describes a range of indigenous beliefs and traditional rituals. 
<h3 class="p1"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Nauru</h3>
Nauru is minuscule. At its widest point, the pacific island only measures 3.5 miles across. 
With fewer than 9,400 residents, it is also the second smallest country by population, beaten only by the Vatican City.
Despite its small size and remote location, Nauru is no stranger to conflict. In 1878, a <a href="http://militaryhistorynow.com/2013/02/18/the-nauru-war-the-smallest-conflict-in-history/">disagreement at a wedding escalated</a> into a decade-long civil war that killed 500 people - roughly a third of the population.
The country was taken over by the Germans before the World War I, liberated by Australia during the war, taken over by the Japanese in World War II, and then liberated again at the end of the war.
Nauru's historical chief export has given it a not-so-flattering nickname, "Bird S--- Island." Thousands of years of bird droppings meant that until recently, the <a href="http://www.theaustralian.com.au/news/investigations/resurgence-in-sight-but-nauru-remains-a-sitting-duck/story-fn6tcs23-1225942956682">country could rely on its phosphate reserves</a> to keep the economy going. 
However, corruption, poor planning, falling prices, and depleted reserves mean that Nauru increasingly depends on foreign aid. Countries like Australia, Russia, and China all compete to buy its diplomatic support internationally.
<h3 class="p1"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Suriname</h3>
Unless you're Dutch or from South America, there's a decent chance you've never heard of Suriname. 
The country lies in northern South America and only achieved independence in 1975. Unlike its neighbors who speak Spanish, Portuguese, or French, the Surinamese speak Dutch. 
A former colony of the Netherlands, Suriname is notable because of its banana republic politics. The current President of Suriname, dictator Dési Bouterse (below), is a military colonel who has controlled the country from behind the scenes for years, taking center stage as president in 2010. 
President Bouterse, leader of the deeply ironic National Democratic Party, has been <a href="http://www.slate.com/articles/news_and_politics/roads/2014/01/why_travel_to_suriname_the_former_dutch_colony_now_run_by_a_drug_running.html">convicted</a> <a href="http://www.slate.com/articles/news_and_politics/roads/2014/01/why_travel_to_suriname_the_former_dutch_colony_now_run_by_a_drug_running.html">of drug smuggling and accused of murder</a>. 
Last month his son, Dino Bouterse, <a href="http://www.aljazeera.com/news/americas/2014/08/suriname-leader-son-admits-hezbollah-plot-2014829212634192610.html">admitted to a federal court in New York</a> that he was involved in drug trafficking, illegal firearms, and a strange plan to allow Hezbollah operatives to attack the U.S. from a base in Suriname in return for a $2 million. The operatives were actually undercover U.S. agents.
<h3 class="p1"><div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>Mauritania</h3>
Mauritania, which lies in the Sahara desert, is a depressing place with a horrific human rights record. 
Its government has been accused of torture. Female genital mutilation is widespread. Although owning slaves was made illegal in 2007, <a href="http://www.globalslaveryindex.org/country/mauritania/#note-146-5">10-20% of the country is still enslaved</a>. 
Mauritania was the last country to make slavery illegal in 1981, but it took another 26 years before owning slaves was actually made a crime. Despite increasing protests against slavery, <a href="http://www.nytimes.com/2013/11/12/world/africa/mauritania-confronts-long-legacy-of-slavery.html?pagewanted=all&amp;_r=0">The New York Times reports</a> the government - which administers fundamentalist Islamic law - shows little commitment to actually do anything about the practice. 
As well as forced labor, masters frequently rape slaves with authorities almost invariably turning a blind eye.
<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>

6 Obscure Countries That You Should Get To Know

<ul class="summary-list"><li>An undisclosed buyer picked up the Alfa Nero for $40 million last week.</li><li>The yacht was originally seized from a Russian oligarch in 2022.</li></ul>An undisclosed buyer has finally stepped up to the helm of the Alfa Nero superyacht, ending a two-year-long saga, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-22/secret-buyer-pays-40-million-for-ditched-alfa-nero-superyacht?cmpid=BBD072324_BIZ&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=240723&amp;utm_campaign=bloombergdaily">Bloomberg</a> reported on Tuesday.That buyer agreed last week to pay $40 million, a huge discount to the $67.6 million that former Google CEO Eric Schmidt bid last year, a deal he eventually abandoned.The Antigua and Barbuda government sold the superyacht, which houses an infinity pool that converts to a helipad or dancefloor.The massively discounted price can be attributed to authorities' need "to get the boat sold," Richard Higgins, a broker who represented the buyer, told Bloomberg.Higgins said the European buyer, whose identify was kept secret, intends to put the superyacht on the charter market.The person "is not included in the sanctions list of any country or institution," Ronald Sanders, Antigua and Barbuda's ambassador to the US, told Bloomberg.The 267-foot-vessel was <a target="_blank" href="https://www.businessinsider.com/seized-russian-yacht-costs-taxpayers-28000-to-maintain-2023-9">seized by </a>Antigua and Barbuda authorities after it was linked to Russian oligarch Andrey Guryev, who was accused by the US Treasury Department of having close ties to Russian President Vladimir Putin. Guryev is the founder of Phosagro, Europe's largest producer of phosphate fertilizers, according to the <a target="_blank" href="https://www.bloomberg.com/billionaires/profiles/andrey-g-guryev/">Bloomberg Billionaires Index</a>.The Alfa Nero was among <a target="_blank" href="https://www.businessinsider.com/what-happens-to-russian-oligarch-sanctioned-yachts-without-maintenance-crews-2022-3">dozens of superyachts</a> seized following global sanctions against Putin's closest associates, which led to billions of dollars in frozen assets.The Alfa Nero's maiden owner was Guryev, who purchased the vessel for $120 million, according to the US Treasury and the <a target="_blank" href="http://gazette.laws.gov.ag/wp-content/uploads/2023/03/No.-19-Extraordinary-21st-March-2023-Editors-Final-Draft.pdf?x91096">Antigua and Barbuda government</a>. The Russian billionaire had adamantly <a target="_blank" href="https://www.businessinsider.com/sanctioned-russia-oligarch-superyacht-antigua-turning-ais-tracking-off-guryev-2022-5">denied ownership.</a>After the vessel was seized in 2022, it remained docked in Antigua's Falmouth Harbour, which cost residents of the Caribbean nation $28,000 in weekly tax dollars for maintenance, which took as many as <a target="_blank" href="https://www.businessinsider.com/sanctioned-yacht-crew-play-call-of-duty-swim-infinity-pool-2023-5">44 crew members</a>. The superyacht was then valued at <a target="_blank" href="https://www.businessinsider.com/alfa-nero-superyacht-auction-oceanco-andrey-guryev-russian-billionaire-oligarch-2023-3">$81 million.</a>In 2023, the Antigua and Barbuda government put the Alfa Nero up for auction, citing hazards due to a lack of maintenance.Eric Schmidt initially won the bidding, for <a target="_blank" href="https://www.businessinsider.com/eric-schmidt-google-paid-67-million-for-oligarchs-abandoned-superyacht-2023-6">$67.6 million</a>, but eventually backed out after Guryev's daughter <a target="_blank" href="https://www.businessinsider.com/eric-schmidt-superyacht-russia-andrey-guryev-daughter-sanction-alfa-nero-2023-7">claimed ownership</a> of the superyacht.The most recent acquisition of the Alfa Nero finally ends its ownership limbo, during which it racked up millions of dollars in port fees under the custody of the Antigua and Barbuda authorities, Darwin Telemaque, the Alfa Nero's port manager, told Bloomberg.Last year, the Wall Street Journal <a target="_blank" class="" href="https://www.wsj.com/world/europe/taxpayers-stuck-paying-the-bills-for-oligarchs-seized-yachts-and-mansions-afd442e4">reported</a> that Antigua and Barbuda taxpayers were footing a $28,000-a-week bill to maintain the Alfa Nero, including the salary of an Italian captain and $2,000-a-day in diesel to keep its air conditioning running. That's because if the AC is turned off, it could let mold spread throughout the vessel and ruin the hardwood interior or a Joan Miró painting onboard, per the WSJ.

The long tale of the yacht linked to a Russian oligarch and abandoned in the Caribbean for more than 2 years finally draws to a close

<keyword id="2912767" type="General" weightage="20" keywordseo="Hero-Electronix" source="Orion">Hero Electronix</keyword>'s consumer technology brand <keyword id="8111732" type="General" weightage="20" keywordseo="qubo" source="Orion">Qubo</keyword> on Friday announced that it has ventured into the auto-tech space with the launch of a new product -- <keyword id="14045483" type="General" weightage="20" keywordseo="qubo-smart-dash" source="Orion">Qubo Smart Dash</keyword> Cam. Priced at Rs 4,290, the all-new Qubo Dash Cam comes with a user-friendly mobile application on both iOS and android platforms and is available across various online and offline channels. "Keeping in line with our broader vision of creating customer-centric connected devices, Qubo has come a long way in the last two years. Today, Qubo has a wide range of connected smart home products that are enriching the lives of Indian consumers," Ujjwal Munjal, Vice Chairman, Hero Electronix, said in a statement. "With the addition of <keyword id="2648044" type="General" weightage="20" keywordseo="auto-tech" source="Orion">auto tech</keyword> products to our existing product portfolio, we are a step closer to our aspiration of reaching a million homes," Munjal added. The company said that the dash cam is equipped with 1080p@30FPS HD video quality for recording and live view. With a built-in 6-axis G-sensor, it auto-detects a sudden shake or collision and locks the footage to 'Event File,' which users can access on their phone through Qubo App. Its Artificial Intelligence (AI)-based alerts ensure that nothing important gets missed, the company said. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/pradeep-phosphates-ipo-lists-at-premium/articleshow/91826685.cms" style="">Paradeep Phosphates lists at a 9% premium as Sensex and Nifty trade in the green</a> <a href="https://www.businessinsider.in/business/startups/news/the-edtech-bubble-is-bursting-as-schools-colleges-reopen-and-funds-dry-up/articleshow/91826696.cms" data-type="tilCustomLink" style="">The edtech bubble is bursting as schools, colleges reopen and funds dry up</a> <a href="https://www.businessinsider.in/business/corporates/news/it-jobs-are-safer-than-startup-jobs-but-a-salary-bubble-burst-awaits-them/articleshow/91808349.cms" style="">IT jobs are safer than startup jobs but a salary bubble burst awaits them</a>

Hero Electronix's Qubo enters auto tech, unveils new dash cam

<ul class="summary-list"><li>Soaring fertilizer prices as a result of the conflict may mean a food crisis, the fertilizer tycoon warned.</li><li><keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword> has banned some Russian exports, including fertilizers, amid Western sanctions.</li></ul>Sanctioned Russian fertilizer and coal tycoon, Andrey Melnichenko, has warned that the Russian invasion of <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword> will lead to a world food crisis and called for the war to end."The events in Ukraine are truly tragic. We urgently need peace. As Russian by nationality, Belarusian by birth, and Ukrainian by blood, I feel great pain and disbelief witnessing the brotherly peoples are fighting and dying," Melnichenko said in comments sent by his spokesperson to Insider.<a href="https://www.reuters.com/world/exclusive-ukraine-war-must-end-russias-fertiliser-coal-king-says-2022-03-14/">Reuters first reported</a> Melnichenko's comments."One of the victims of this crisis will be agriculture and food," Melnichenko also said, adding that the war has "already led to soaring prices in fertilisers which are no longer affordable to farmers."The Russian billionaire is the founder of Russia's largest ammonium nitrate and coal producers, EuroChem and SUEK. He is also among the <a href="https://www.businessinsider.com/russian-oligarch-andrey-melnichenko-578-million-yacht-seized-by-italy-2022-3">Russian oligarchs</a> who have been targeted by Western sanctions due to the conflict. Russia's invasion has dramatically pushed up the cost of key agricultural commodities such as wheat and corn, and <a href="https://www.businessinsider.com/collapse-of-ukraines-biggest-food-producer-catastrophic-2022-3">imperiled food supplies.</a>The war threatens to disrupt production in Ukraine, which is a major exporter of the grains. Russian exports are also expected to be curbed as the packages of sanctions imposed on Russia prevent many firms from conducting business with the country.The fallout of the conflict has also seen <a href="https://www.businessinsider.com/russia-ukraine-inflation-lifting-prices-american-shoppers-gas-wheat-nickel-2022-3#5-fertilizer-5">fertilizer prices soar</a>, adding to farmers' costs, and further <a href="https://www.businessinsider.com/what-russias-invasion-ukraine-means-global-food-supplies-2022-3">inflating food prices</a> that were already sitting at or near record highs as a result of <a href="https://www.businessinsider.com/what-russias-invasion-ukraine-means-global-food-supplies-2022-3">t</a>he pandemic. Russia is a major producer of fertilizer – including potash, phosphate and nitrogen – accounting for 13% of global production, <a href="https://www.reuters.com/world/exclusive-ukraine-war-must-end-russias-fertiliser-coal-king-says-2022-03-14/">according to Reuters.</a> Production is heavily reliant on natural gas, the cost of which has also climbed as a result of the conflict in Ukraine.Fertilizer prices may also impact the US' ability to offset the loss of Russian and Ukrainian exports. US wheat production <a href="https://www.businessinsider.com/what-russias-invasion-ukraine-means-global-food-supplies-2022-3">ranks second in the world after Russia,</a> but it's unlikely it can make up the shortfall in lost exports. The US wheat crop has already been planted for the year, while energy and fertilizer prices are proving an obstacle for many US farmers, <a href="https://www.ft.com/content/6faa1318-ca75-4cae-8d78-bc99d24bc1bd">The Financial Times reported.</a>Earlier this month, Russia's Ministry of Trade and Industry called on the country's fertilizer producers to suspend exports, <a href="https://www.reuters.com/world/exclusive-ukraine-war-must-end-russias-fertiliser-coal-king-says-2022-03-14/">Reuters reported</a>. Melnichenko warned that <keyword id="12878210" type="UNKNOWN" weightage="60" keywordseo="food-supply" source="Orion">food supply</keyword> chains were already impacted by the pandemic, saying that "now this will lead to even higher food inflation in Europe and likely food shortages in the world's poorest countries."Melnichenko is among the billionaire Russian <keyword id="13281691" type="UNKNOWN" weightage="60" keywordseo="oligarchs" source="Orion">oligarchs</keyword> who have been placed on an EU sanctions list in response to Moscow's decision to invade Ukraine. A spokesperson for Melnichenko previously <a href="https://www.businessinsider.com/russian-oligarch-andrey-melnichenko-578-million-yacht-seized-by-italy-2022-3">told Insider</a> that the EU's accusations about his connections to the war in Ukraine are false. Due to the sanctions, <a href="https://www.businessinsider.com/russian-oligarch-andrey-melnichenko-578-million-yacht-seized-by-italy-2022-3">Melnichenko resigned</a> as a member of the board and main beneficiary of both <a href="https://www.eurochemgroup.com/media-announcements/andrey-melnichenko-resigns-from-eurochem-board-of-directors-and-withdraws-as-main-beneficiary/">EuroChem</a> and <a href="http://www.suek.com/media/news/andrey-melnichenko-resigns-from-suek-board-of-directors-stands-down-as-main-beneficiary-/">SUEK</a> last week.Eurochem claims to be among the top five fertilizer companies globally, according to Reuters.

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India imports 23.4 lakh tons of fertiliser in October

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The war in Ukraine is sending fertilizer prices through the roof. That could spark food shortages in countries already struggling with widespread hunger.

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The long tale of the yacht linked to a Russian oligarch and abandoned in the Caribbean for more than 2 years finally draws to a close

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Hero Electronix's Qubo enters auto tech, unveils new dash cam

IANS

Oligarch who founded Russia's largest fertilizer and coal companies warns the world faces food crisis without an end to the conflict in Ukraine

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