City Bangalore Financial News

Bengaluru metro updates: The purple line of the Bengaluru metro is reportedly going to get fully operational on 15 September. MoneyControl news reported that the two stretches on the purple line, Kengeri – Challaghatta and KR Puram – Baiyappanahalli will become operational after 15 September for the public. With the completion of work, the purple line will connect east Bengaluru to most parts of the city.

₹ 59043 per 10 gm on Multi Commodity Exchange (MCX). MCX Gold for October 5 delivery went on to hit an intraday high of 59056, and a low of ₹59017.

‘India for India’ and ‘India for Export’ strategy.”Bangalore: Nidec Corporation is the world’s leading electric motor manufacturer, with over 340 group companies and 1 lac employees worldwide. The company recorded $17B in sales last year Nidec’s Motion & Energy Business Unit marked a significant milestone with a Groundbreaking Ceremony for an ambitious project in India at the Kotur-Belur Industrial area of Hubli-Dharwad, Karnataka. Nidec has a robust Indian manufacturing presence with seven manufacturing bases in operation today.

IBM on Wednesday renewed its research collaboration with Indian Institute of Technology (IIT), Bombay and Indian Institute of Science (IISc), Bangalore to transform and drive breakthrough innovations in the field of hybrid cloud and artificial intelligence (AI). IIT Bombay joined the IBM AI Horizon Network in 2018 to advance AI research in India, and in 2021, IBM and IISc Bangalore launched the IBM-IISc Hybrid Cloud lab to advance research in hybrid cloud technologies and drive breakthrough innovations in this area.

₹ 59,347per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 59,384, and a low of ₹59,336. Around 9.10 a.m., MCX Gold for October 5 delivery traded 0.05% per cent lower at ₹59364 per 10 grams.

Ministry of Home Affairs has issued a look-out circular (LOC) against three Chinese citizens involved in a mega online Ponzi scam. The LOC was issued at the request of the Inspector General of the Odisha Economic Offence Wing (EOW), JN Pankaj in the Bureau of Immigration. The three Chinese citizens (two men and one woman) were the main accused and close associates of Guanhua Wang who was one of the main accused in the mega online Ponzi scam. The three Chinese nationals have been identified as Liu Huan, Wenhui Zheng and Xu Xiaolu. The case pertains to EOW Case No.19/2023 under sections 419, 420, 467, 468, 471, 120-B of the IPC, sections 66-C and 66-D of the IT Act and section 6 of the Odisha Protection of Interests of Depositors Act. The case related to a pan-India online Ponzi scam involving fraud and siphoning off hundreds of crores of rupees out of India using a complex network of mule bank accounts, shell companies/ firms and crypto-traders. Earlier in July, a LOC was issued against Guanhua Wang (40), the mastermind of the Ponzi scam who is a resident of Hangzhou in China. Wang along with the Chinese nationals came to India in 2019 and stayed in Bangalore for a few months. They created at least 14 shell companies to run various cyber-financial frauds.

Siddaramaiah on Monday praised the past Congress regimes for their contributions to the nation's and the state’s information technology (IT) policies, saying it was the Congress-led government’s IT policy in Karnataka in 1992 — the first in the state — that laid the foundation of a national policy. “Congress governments have always provided political stability, which is good for long-term investments at the state and national level,” he said.

skipper Rohit Sharma won the toss and decided to bat first. Speaking about his team's objective in the tournament, Sharma said, "Got to play good cricket, you need to embrace the challenge, embrace the situation.

skipper Rohit Sharma was dismissed by the same bowler in his previous over, scoring only 11 off 22 balls. As Kohli tried to push the ball through offside while opening the face of his blade, he chopped it back, resulting in his dismissal. Disappointed Kohli's reaction summed up everything as he was in utter disbelief.

₹59,296 in the domestic market. Around 9.06 a.m., MCX Gold for October 5 delivery traded 0.11 per cent lower at ₹59310 per 10 grams.

Chandrayaan-3's instruments recorded a natural event that occured on the lunar surface, according to Indian Space Research Organisation (ISRO) The space agency said on Thursday that the event — recorded on the Instrument of Lunar Seismic Activity (ILSA) payload on the Vikram lander — is still under investigation. «The Instrument for Lunar Seismic Activity (ILSA) payload on the Chandrayaan 3 Lander is the first instance of a Micro Electro Mechanical Systems (MEMS) technology-based instrument on the moon. It has recorded the vibrations occurring due to the movements of Rover and other payloads,» ISRO said. Posting on the platform X, formerly Twitter, the agency said, «Additionally, it has recorded an event, appearing to be a natural one, on August 26, 2023.

Airport Bengaluru’s (BLR Airport) Terminal 2 (T2) is set to commence its international operations, on September 12. The confirmation came after the airport shared an update on their official social media handle X (Formerly Twitter).

Vikram lander and Pragyaan rover's activity on the lunar surface, the Indian Space Research Organization (ISRO) said on Thursday that Instrument for the Lunar Seismic Activity (ILSA) payload on Chandrayaan 3 lander has recorded the movements of rover and other payloads. Additionally, on August 26, 2023, the first micro electro mechanical systems technology-based instrument, ILSA has recorded an event, appearing to be a natural one, ISRO said on X, formerly Twitter. «The source of this event is under investigation,» the space agency added. ILSA, deployed on the lander, recorded these sounds as part of the in-situ experiments on the moon. The payload consists of a cluster of six high-sensitivity accelerometers, which are indigenously fabricated using the Silicon Micromachining process. «The core sensing element consists of a spring-mass system with comb-structured electrodes. External vibrations lead to a deflection of the spring, resulting in a change in capacitance which is converted into voltage,» ISRO explained. Further, ILSA's main objective is to measure vibrations on the ground which are generated by natural quakes, impacts, and artificial events. «The vibrations recorded during the rover's navigation on August 25, 2023, are depicted in the figure. Additionally, an event, seemingly natural, recorded on August 26, 2023, is also shown. The source of this event is currently under investigation,» ISRO said in a statement.

₹59,490 per 10 gm on Multi Commodity Exchange (MCX), and went on to hit an intraday high of 59,520, and a low of ₹59,420 in the domestic market. Around 10 a.m., MCX Gold for October 5 delivery traded 0.05 per cent lower at ₹59447 per 10 grams. Gold price on Thursday, August 31 stood at ₹54850 per 10 grams for 22 carats, and ₹59820 per 10 grams for 24-carat in the spot market.

Good news for air passengers! Kempegowda International Airport Bengaluru’s (BLR Airport) Terminal 2 (T2) will commence its international operations from August 31 onwards. The first international flight is all set to take off from Bengaluru Airport tomorrow. 

₹54850 per 10 grams for 22 carats, and ₹59820 per 10 grams for 24-carat in the spot market. Gold prices traded with gains in the morning session in the domestic futures market on Wednesday.

debt by more than ₹300 crore following the sale of its Bangalore Elevated Tollway to private equity firm KKR. Private equity firm KKR completed the acquisition of a 100% stake in Bangalore Elevated Tollway (BETPL) at an enterprise value of ₹545 crore. Galaxy II, a wholly-owned subsidiary of Galaxy Investments, which is itself owned by KKR Asia Pacific Infrastructure Holdings closed the acquisition last week, a source said. The move follows an unsolicited binding offer submitted by Galaxy II for the complete interest of IL&FS' stake in BETPL.

Maruti Suzuki India on Tuesday announced that Arnab Roy will assume the position of CFO Designate starting from October 16, 2023. Roy is set to take over from the current CFO, Ajay Seth, who is scheduled to retire by the end of this year.