City Chennai Financial News

Chennai: Chocolate manufacturer and supplier LOTTE India has ramped up production at its factory in Tamil Nadu with an investment of Rs 185 crore. The facility, spread across 85,562 sq ft land in Nemam near here, would increase production of the company's range of Choco Pie.

RedboxGlobal India on 27 September. Apart from the World Cup 2023, the tenure also coincides with the seasonally strong 3Q for the hospitality industry and the same is likely to benefit both hotels and airlines sectors (including IHCL, and Indigo) in 3Q, said the firm. In the 46 days, 48 matches will take place in 10 different cities in India, where 10 countries are participating.

India's income tax department conducted searches at the premises of Apple supplier Flex in Tamil Nadu state, a source said on Wednesday. Income tax officials have visited the Chennai factory as part of the inquiry, the source said, adding that Flex has yet to be informed about the purpose of the visit. The income tax department did not immediately respond to a Reuters' request for comment.

income tax department conducted searches at the premises of Apple supplier Flex in Chennai in Tamil Nadu state, local media reported on Wednesday. The IT department did not respond to a Reuters' request for comment.

(Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) While the travel and tourism sector began to bounce back with a marginal 3% hiring upswing in 2022, it dramatically recovered this year. According to foundit, "The optimistic growth can be attributed to increased disposable incomes and higher spending on leisure and business travel in the country".

CBRE. Bangalore, Delhi-NCR and Mumbai are among the top 3 cities spearheading green-compliant office spaces with a cumulative share of 68% of the total, green-certified office stock in India.

Singapore Airlines on Tuesday said it aims to complete the merger of Vistara with Air India «as soon as possible» subject to remaining approvals from relevant authorities. Once the proposed merger, which was approved by the Competition Commission of India (CCI) on September 1, is complete, Singapore Airlines will have a 25.1 per cent stake in Air India.

Banks in October are closed on the occasion of Gandhi Jayanti, Mahalaya, Kati Bihu, Durga Puja, Dusshera, Lakshmi Puja, Sardar Vallabhbhai Patel’s Birthday.

Chennai and Tirupati will be suspended from September 28 to October 12 due to track upgrades at Renigunta yard. Apart from that, a total of 12 express trains are set to be cancelled in October due to interlocking procedures and the commissioning of the third line at Bapatla station, which falls under the Vijayawada division of South Central Railway. The list of affected train services includes the Visakhapatnam — Tirupati double decker, Bhubaneswar — Tirupati special, Visakhapatnam — Chennai super-fast, Sambalpur — Erode special, and Visakhapatnam – Bangalore cantonment special. Additionally, travelers planning to board the Dhanbad-Alleppy Bokaro Express from Dhanbad on October 2 and October 10 should take note of a temporary diversion.

Pegatron Corporation." According to information shared by agency’s sources with knowledge of the situation, it appears unlikely that production shifts at the plant will resume on Wednesday. One of these sources mentioned that repair work is underway at the facility located in the Chengalpattu area near the southern city of Chennai in Tamil Nadu state, said Reuters.

Apple supplier Pegatron's India iPhone factory is expected to extend into Wednesday and disruptions could last longer as authorities investigate a fire at the Taiwanese firm's only India plant, four sources said. Pegatron described the Sunday fire as a «spark incident» which caused no injuries and said has «no financial or operational impact to Pegatron Corporation», but called off all assembly shifts for Monday and Tuesday, Reuters previously reported. Four sources briefed on the matter said Wednesday shifts were also unlikely. One of them said damage was being repaired at the plant in Chengalpattu area near the southern city of Chennai in Tamil Nadu state, and in the worst case the shutdown could last the entire week. One of the sources said Apple representatives were collaborating with Pegatron after the incident. Apple and Pegatron did not respond to requests for comment. Pegatron has asked independent surveyors to assess the fire damage, a fifth source said. The disruptions are the latest to impact Apple suppliers in India, a country where the U.S.

iPad Mini. They say, “The share will gradually pick up during the second half because of Apple’s inventory replenishment needs in the third quarter and orders for a new small-size iPad in the fourth quarter, the figures show." As of now, the company has made official announcements regarding the launch of Apple’s iPad Mini 7. However, another notable tipster namely ShrimpApplePro suggested that the upcoming iPad Mini might be under development.

heavy rain lashed parts of the Vellore district. The District Administration has suspended classes for std 1-5 in Vellore and Ranipet district schools due to the rainfall.

Tata Steel: Moody's Investors Service upgraded Tata Steel's long-term issuer rating to Baa3, the lowest investment grade rating, citing the company's solid market position and expectation of an increase in profitability. The global rating agency also changed the outlook to "stable" from "positive". Moody's said the stable rating outlook reflects Tata Steel's strengthening credit metrics.

Pegatron factory in Chennai was halted on Monday after a «minor» fire incident was reported at the facility on Sunday, company spokesperson and government officials said. Production hasn't resumed at the plant at press time amidst an investigation by the fire safety officials of the government, said people familiar with the matter. «The fire started around 8:20 PM on Sunday and took place on the first floor of the factory in one of the halls. The source of the fire was a mobile charging rack where the phones that are manufactured are tested to see if they are working and whether they are able to be charged,» a government official told ET, asking not to be named.

BENGALURU : Delays in completing real estate projects have somewhat declined, latest data shows. In achieving this, the implementation of the Real Estate (Regulation and Development) Act, 2016 or RERA has played a key role. Mint explains: Around 86% of residential projects (1,409 projects) launched between June 2017 and 2018-end, after the implementation of RERA in May 2017, are completed.

Surat/Chennai: During his State visit to the US in June, Prime Minister Narendra Modi carried a unique gift for First Lady Jill Biden. It was a 7.5-carat diamond, neatly packed in an exquisite Kashmiri papier-mache box. It was not a diamond that had been mined from deep under the earth; instead, it had been grown in a laboratory in Surat, mimicking the conditions that create natural diamonds.

Taiwanese company canceled all shifts for the day at the factory located near Chennai in Tamil Nadu state. It has not yet communicated to assembly workers whether the facility will resume operations on Tuesday, as per the Reuters sources. In a statement given to the agency, Pegatron confirmed that there was a spark incident at the facility, which is now under control.

BJP), the All India Anna Dravida Munnetra Kazhagam (AIADMK) on Monday said that it has broken all ties with the NDA alliance. The decision to break away from the NDA was taken at a high level meeting chaired by party chief Edappadi K Palaniswami at the AIADMK headquarters in Chennai. Briefing reporters on the deliberations, former Minister and senior leader K P Munusamy said the party has unanimously resolved to part ways with the NDA and steer a combine of like-minded parties in the next year's polls. The resolution, without naming anyone, said the BJP's state leadership has been of late defaming Dravidian stalwart, the late CN Annadurai and late Chief Minister J Jayalalithaa, besides criticising its policies. «AIADMK unanimously passed a resolution in the meeting. AIADMK is breaking all ties with BJP and NDA alliance from today.

land worth Rs 125.06 crore belonging to Unitech Infopark Limited in connection with its probe into money laundering allegations arising out of complaints from home buyers of the Unitech group, officials said Monday. The ED has provisionally attached 39.83 per cent share of 4.79 acres of land that forms part of the Uniworld City township at Nallambakkam in Chennai. «The value of the land attached is Rs 125.06 crore.