Ford confirms India re-entry plans, Chennai plant to reopen after 2 years
Sep 13, 2024, at 08:16 pm
Bengaluru/IBNS: American multinational automobile manufacturer Ford Motor on Friday (Sept. 13) announced plans to restart a manufacturing facility in Tamil Nadu, potentially re-entering the Indian market it exited three years ago, according to a report by Reuters.
Sep 13, 2024, at 07:44 pm
Singapore/IBNS: Even as consumer price index (CPI) inflation has softened to the 2-6 percent tolerance band, there is still a ‘distance to cover’, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Friday (Sept. 13), signaling the central bank is in no hurry to cut interest rates despite the inflation dip in the world’s fastest-growing major economy.
August retail inflation at 3.65%, below RBI's 4% target
Sep 13, 2024, at 04:03 am
New Delhi: India’s retail inflation rose to 3.65% on an annual basis, up from a five-year low of 3.54%, according to government data released on Thursday.
Sep 12, 2024, at 11:34 pm
Tata Power EV Charging Solutions Limited, a EV Charging solutions providers and a subsidiary of Tata Power Renewable Energy Limited (a subsidiary of Tata Power), on Thursday announced the signing of a Memorandum of Understanding (MoU) with Tata Motors Limited (Tata Motors) to set up 200 fast-charging stations for electric commercial vehicles (CV) in all metros cities in India inluding Kolkata and Mumbai.
India's retail inflation eases to 3.65 pct in August in comparison to 6.83 pct registered a year ago
Sep 12, 2024, at 11:28 pm
India's retail inflation in August touched 3.65 percent as compared to 6.83 percent which was recorded during the same period last year.
Rapido inaugurates new office in Bengaluru
Sep 12, 2024, at 10:42 pm
Ride-hailing platform Rapido has inaugurated its new 40,554 sq. ft. corporate head-office in Bellandur (Bengaluru).
HDFC Bank negotiates with global lenders to offload $1 billion in loans
Sep 12, 2024, at 09:02 pm
Mumbai/IBNS: India's largest private sector lender, HDFC Bank, is negotiating with major global banks to offload loans totaling up to Rs 8,400 crore ($1 billion) as part of its strategy to reduce the size of its credit portfolio and improve its credit-to-deposit ratio, reports Bloomberg, citing its sources.
PwC US to fire 1800 jobs in first restructuring measure in 15 years
Sep 12, 2024, at 08:49 pm
Multinational professional service brand PricewaterhouseCoopers’s U.S. unit will lay off about 1,800 workers, media reports said.
YES Bank's stake sale stalled due to RBI's concerns over majority foreign bank ownership
Sep 12, 2024, at 08:36 pm
Mumbai/IBNS: The stake sale of Indian private sector bank YES Bank is currently stalled as the Reserve Bank of India (RBI) is hesitant about allowing majority foreign bank ownership, reports Moneycontrol, citing sources familiar with the matter.
SEBI mulls new regulations to curb risks amid surge in small IPOs
Sep 12, 2024, at 08:06 pm
Mumbai/IBNS: The Securities and Exchange Board of India (SEBI), the regulatory body for securities and commodity market in the country, is contemplating stricter oversight for micro-cap firms going public, which includes enhanced monitoring of how their funds are used and tougher due diligence requirements for merchant bankers, the Economic Times reported, citing a source involved in the discussions who requested anonymity due to the confidential and sensitive nature of the information.
Paytm to focus on core business, deliver profitability soon: CEO Vijay Shekhar Sharma at AGM
Sep 12, 2024, at 08:02 pm
New Delhi/IBNS: Vijay Shekhar Sharma, the founder and chief executive officer (CEO) of Paytm, on Thursday (Sept. 12) said the fintech company will focus on its core business of payments and cross-selling financial services as it works to achieve "profitability soon".
Sep 12, 2024, at 06:33 am
New Delhi: Union Cabinet approved the fourth phase of the Pradhan Mantri Gram Sadak Yojana (PMGSY) on Wednesday which will be implemented from 2024-25 to 2028-29, with a budget allocation of Rs 70,125 crore.
Union Cabinet approves PM E-Drive Scheme with Rs 10,900 cr budget
Sep 12, 2024, at 06:05 am
New Delhi: The Union Cabinet has approved the PM E-Drive Scheme with a budget of Rs 10,900 crore over two years to promote the adoption of electric vehicles (EVs) in India.
Microsoft India buys plot in Pune's Hinjawadi for Rs 520 cr
Sep 12, 2024, at 04:20 am
Pune: Microsoft Corporation (India) Pvt Ltd, the Indian arm of the software giant, has acquired a 16.4-acre land parcel in Pune's tech-centric Hinjawadi suburb for approximately Rs 520 crore, according to documents reviewed by Square Yards, media reports said.
India extends countervailing duty on welded stainless steel pipes and tubes from China and Vietnam
Sep 12, 2024, at 04:13 am
New Delhi: The Indian government has extended the countervailing duty on imports of welded stainless steel pipes and tubes from China and Vietnam for another five years, media reports said, citing a Union Finance Ministry order on Wednesday.
Semicon India 2024: PM Modi aims for India’s electronics sector to reach $500 billion by 2030
Sep 11, 2024, at 11:11 pm
Noida (UP): Prime Minister Narendra Modi has set a target of expanding India's electronics sector to $500 billion by the end of the decade.
Sep 11, 2024, at 11:08 pm
Noida: Prime Minister Narendra Modi stated on Wednesday that India aims to become a global hub for producing, using, and exporting green hydrogen.
Uber launches premium 'black' service in India
Sep 11, 2024, at 08:34 pm
India's leading ride-sharing app Uber has announced the launch of its upscale Uber Black category.
Strike hits Samsung production at key electronics plant in Tamil Nadu
Sep 11, 2024, at 07:46 pm
Chennai/IBNS: Production at Samsung Electronics' key plant in southern India faced disruptions for the second consecutive day on Tuesday (Sept. 10) due to a strike by hundreds of employees demanding higher wages.
Google, Apple lose multibillion dollar court fights with European Union
Sep 11, 2024, at 07:12 pm
Luxembourg/IBNS: Apple Inc. has lost its legal battle over a €13 billion ($14.4 billion) Irish tax bill, while Google has lost its challenge against a €2.4 billion fine for abusing its market power, reports Bloomberg.
Govt plans new policy to link scrapping of vehicles to pollution instead of age: Official
Sep 11, 2024, at 06:56 pm
New Delhi/IBNS: A senior official said on Tuesday (Sept. 10) that the government is developing a new vehicle scrappage policy focused on pollution levels rather than the age of the vehicles.
Honda Power Pack Energy India, Bhago Mobility partner for green fleet services in EV segment
Sep 11, 2024, at 11:42 am
Kolkata: Honda Motor Company's battery swapping service Honda e:Swap has teamed up with sustainable transportation solution provider Bhago Mobility for providing green fleet management services aimed at revolutionizing last-mile delivery solutions for the EV segment.
Sep 11, 2024, at 07:09 am
New Delhi: Lockheed Martin, a U.S.-based defence company, has partnered with Tata Advanced Systems Ltd to strengthen their collaboration on the C-130J Super Hercules tactical airlifter project, media reports said.
Oil prices tumble on weak demand concerns, Brent dips below $70, near 3-yr low
Sep 11, 2024, at 06:02 am
Brent futures fell below $70 a barrel for the first time since December 2021, marking a new low in a price slump driven by strong supply, demand concerns, and heavy speculative selling, according to Bloomberg.
New GPS-based system to revolutionize toll collection system: Here's all you need to know
Sep 11, 2024, at 05:33 am
New Delhi: The Ministry of Road Transport and Highways has updated the National Highways Fee (Determination of Rates and Collection) Rules, 2008, to include satellite-based electronic toll collection systems.
Tata Motors MD Shailesh Chandra elected new SIAM president
Sep 11, 2024, at 05:27 am
New Delhi: The Society of Indian Automobile Manufacturers (SIAM), India’s top automobile industry body, has elected Shailesh Chandra, Managing Director of Tata Motors Passenger Vehicles, as its new president for the 2024-25 term.
Maruti Suzuki's 500 km range EV soon, says CEO Hisashi Takeuchi
Sep 11, 2024, at 04:39 am
New Delhi: Maruti Suzuki India (MSI) plans to launch an electric vehicle with a 500-km range, powered by a 60-kilowatt-hour battery, along with several similar models, according to MD and CEO Hisashi Takeuchi on Tuesday, said a Moneycontrol report.
Companies with turnover over Rs 500 cr in India required to seek CCI approval for mergers
Sep 11, 2024, at 02:47 am
New Delhi: The Competition Commission of India (CCI), on Tuesday, introduced new regulations expanding the scope of companies that must obtain approval for mergers.
Sep 10, 2024, at 11:09 pm
Mumbai: The Mahindra Group has rejected recent allegations of a conflict of interest regarding payments to Dhaval Buch, the husband of SEBI chairperson Madhabi Buch, calling the claims "false and misleading."
'Threat to national security': Congress red flags Adani Group's investment in China
Sep 10, 2024, at 10:40 pm
New Delhi: The Congress party on Tuesday raised concerns over the Adani Group's decision to set up a subsidiary in China for project management services, claiming that this move could endanger India's national security and territorial integrity, media reports said.