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Audi India expects to end 2024 with a decline in car sales mainly due to supply chain disruptions exacerbated by global geopolitical uncertainties, a senior company executive said. The Volkswagen Group company expects to score a sales revival next year backed by better availability of models, Balbir Singh Dhillon, head, Audi India told ET. Dhillon noted that the Indian luxury car market is expected to grow to record more than 50,000 units this calendar year. The Indian luxury car market has the presence of BMW, Mercedes-Benz and Jaguar Land Rover, among others.

edible oil prices set to fall, after a gap of four months, from mid-December by up to 9% following a drop in international prices of soybean, sunflower and palm oil by $100 dollars per tonne in the last fortnight. Abundant global production of soybean has pushed down prices of soybean oil. Sunflower oil prices are also cooling off while palm oil prices have fallen since Indonesia, the world's biggest palm oil producer, is yet to frame its biodiesel policy. Indonesia produces biodiesel from a blend of palm oil and fossil fuel-based diesel. The country currently uses 35% palm oil in biodiesel, which the government was planning to raise to 40%, a move opposed by environmentalists. This has forced the Indonesian government to rethink the issue.

Dr Reddy's Laboratories on Wednesday announced the launch of toripalimab, an immune oncology drug to treat adults with a rare and aggressive form of head and neck cancer that originates in the nasopharynx, the upper part of the throat. Toripalimab, a new biological entity (NBE), is approved by various regulatory authorities around the world including the US Food and Drug Administration, European Medicines Agency and Medicines and Healthcare products Regulatory Agency for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC). Last year, Dr Reddy's entered into a licence and commercialisation agreement with Shanghai Junshi Biosciences Co. for toripalimab. Under this agreement, it obtained exclusive rights to develop and commercialise the drug in 21 countries including India, South Africa, Brazil and various countries in South America. The agreement also allows Dr Reddy's to expand the scope of the licence to cover Australia, New Zealand and nine other countries.

Continued growth in production of iron ore in the current financial year shows the robust demand conditions in the user industry. Coupled with growth in aluminium and copper, these growth trends point towards continued strong economic activity in user sectors such as energy, infrastructure, construction, automotive and machinery.

“Work on the bullet train corridor in Maharashtra picked up pace after the National Democratic Alliance (NDA) government took charge. Entire land acquisition is complete and over 320-kilometres of the physical infrastructure work is ready,” the official said. Commenting on future bullet train corridors, he said experience from developing the Mumbai-Ahmedabad High Speed Rail (MAHSR) corridor will come handy. “India is now capable to single-handedly take up this project in more corridors. We should have our own trains in future corridors as well," he said.

Vande Bharat train services were operational with enhanced safety features and modern passenger amenities as on November 21, the government has informed the Lok Sabha. In a written reply on Wednesday, Railways Minister Ashwini Vaishnaw said these safety features and modern passenger amenities were automatic train protection system KAVACH, faster acceleration, fully-sealed gangway, automatic plug doors, better ride comfort, mini pantry with provision of hot case, bottle cooler, deep freezer and hot water boiler, among many others. The minister was responding to questions raised by nine MPs from various political parties who wanted to know the rationale behind launching the Vande Bharat Express, their occupancy, amenities, passenger feedback and services in Maharashtra as well as on the New Delhi-Kathgodam route. Vaishnaw said, «Presently, 22 Vande Bharat services, on originating or terminating basis, are catering to the needs of stations located in the state of Maharashtra.»

Our winners were honoured at a special ceremony in London on 27 November, hosted by comedian Lucy Porter. This year's charity for the evening was The Girls' Network, which works to inspire and empower girls from the least advantaged communities by connecting them with a mentor and a network of professional role models who are women. Now in their eighth year, the Women in Investment Awards continue to have a vital role to play in helping accelerate the pace of change towards a more diverse and inclusive investment industry. They recognise women who are supporting others and are havi...

Akasa Air announced on Thursday the launch of daily direct flights connecting Abu Dhabi with Bengaluru and Ahmedabad, starting from March 1 and 2, 2025 in a press release. The daily flights from Abu Dhabi to Bengaluru (Flight QP 578) will depart at 10:00 am and arrive in Abu Dhabi at 12:35 pm. On the return leg, Flight QP 577 will depart Abu Dhabi at 3:00 am and arrive in Bengaluru at 8:45 am. Both flights will are non-stop, will operate daily and are set to fly from March 1 and March 2, respectively. In addition, Akasa Air will introduce direct and daily flights between Ahmedabad and Abu Dhabi from March 1, 2025. Flight QP 580 from Ahmedabad will depart at 10:45 pm and arrive in Abu Dhabi at 1:00 am the next day, while Flight QP 579 will depart Abu Dhabi at 2:50 pm and arrive in Ahmedabad at 7:25 pm.

Oil and Natural Gas Corporation (ONGC) has made four more discoveries since it first made an oil field near Asokenagar in West Bengal six years back but is still awaiting the state government's nod for a petroleum mining lease to develop them, Oil Minister Hardeep Singh Puri said on Thursday. ONGC notified the first Asokenagar discovery in Block WB-ONN-2005/4 on September 24, 2018, Puri said in a written reply to a question in Lok Sabha. The discovery, he said was the outcome of continuous exploration efforts of ONGC in the Bengal sedimentary basin over five decades. As per initial laboratory studies, crude oil, which is refined into fuels like petrol and diesel, discovered in the Ashokenagar discovery is a light variety with American Petroleum Institute (API) gravity of 40-41 degrees and is almost similar to Bombay High and Brent Crude.

Mahindra and Mahindra launched two new electric SUVs, the BE 6e and XEV 9e, in India. The XEV 9e will compete with the Tata Curvv EV, which too comes in coupe SUV design. The XEV 9e's starting price is Rs 21.9 lakh (ex-showroom, introductory) for the base Pack One trim with a 59kWh battery. Deliveries begin in February 2025. Tata's Curvv EV offers two battery options (45kWh and 55kWh) across five variants, with prices ranging from Rs 17.49 lakh to Rs 22 lakh (ex-showroom). The XEV 9e measures 4,790mm long, 1,905mm wide, and 1,690mm tall, with a 2,775mm wheelbase and 207mm ground clearance. It offers 665 liters of boot space and 150 liters of frunk space. The Curvv EV is smaller, measuring 4,310mm long, 1,810mm wide, and 1,637mm tall, with a 2,560mm wheelbase and 190mm ground clearance. It has 500 liters of boot space.

State Bank of India, are reviewing their exposure to Adani Group and examining whether they need to tighten their due diligence when offering new loans to them, after the U.S. accused Chairman Gautam Adani of bribery, eight bankers said. Bank of India, Union Bank, ICICI Bank, Canara Bank, IDBI Bank and RBL Bank, which have a relatively smaller exposure to the group, are also undertaking a similar exercise. A review would not necessarily entail any change in the lenders' credit approach with regards to the group.

PTA manufacturing plant at Mangalore, the firm said Thursday. The company, through its wholly-owned subsidiary GAIL Mangalore Petrochemicals Limited (GMPL), re-engaged INEOS to support the plant's revitalisation, formalising this renewed collaboration through an Amendment Agreement signed here, it said in a statement. «This marks a significant step towards the revival of GMPL's 1.25 million tonnes per annum purified terephthalic acid (PTA) manufacturing plant located in the Special Economic Zone (SEZ), Mangalore,» the statement said. The original agreement with INEOS was executed by JBF Petrochemicals (JBF), which could not be realised due to insolvency proceedings. Following GAIL's acquisition of JBF through the Corporate Insolvency Resolution Process (CIRP) under the National Company Law Tribunal (NCLT) in June 2023, the state-owned firm is now working to overcome the legacy challenges and ensure the plant's successful on-streaming and long-term operational stability.

DRA has set an ambitious target to double its revenue to Rs 1,000 crore by FY26-27, driven by new project launches and geographical expansions. The company expects to achieve Rs 500 crore in revenue in FY24-25, up from Rs 300 crore in FY23-24. To fuel this growth, DRA plans to enter the Pune market and expand further in Bengaluru by the next fiscal year. Additionally, the firm aims to solidify its position in Chennai by adding 2.7 million sq. ft. of saleable area through nine ongoing and six upcoming projects across key locations in the city.

Subscribe to enjoy similar stories. Employees Provident Fund Organisation (EPFO) data shows that around 12-13 million formal jobs are added every year. This is good news.

Onion prices are staying firm at a five-year high as a combination of strong export demand and delayed and damaged kharif crop due to prolonged monsoon rainfall has impacted an expected fall in prices post Diwali season. Onion prices are expected to return to comfortable levels by mid-December, trade insiders said. At the benchmark Lasalgaon market in Maharashtra’s Nashik district, onions traded in the range of Rs 15/kg to Rs 53/kg on Wednesday, while the average price was Rs 40/kg. The average wholesale price of the red onion at Lasalgaon was Rs 34/kg in 2020, Rs 21/kg in 2021, Rs 20/kg in 2022 and Rs 37/kg in 2023.

Dr Reddy's Laboratories on Thursday said it has launched Toripalimab, a drug for the treatment of recurrent or metastatic nasopharyngeal carcinoma in India. Nasopharyngeal carcinoma (NPC) is a rare, aggressive form of head and neck cancer that originates in the nasopharynx, the upper part of the throat. The company has launched Toripalimab, a new biological entity (NBE), Dr Reddy's Laboratories said in a regulatory filing. The medication is the only immuno-oncology drug approved by various regulatory authorities around the world such as the US Food and Drug Administration (USFDA), European Medicines Agency (EMA), Medicines and Healthcare products Regulatory Agency (MHRA), and others for the treatment of adults with recurrent or metastatic nasopharyngeal carcinoma (RM-NPC), it added.

In a bid to create more awareness around single malts, Piccadily Agro, the maker of Indri single malt whisky and Camikara rum, also plans to launch a state-of-the-art visitor centre at Indri, Haryana, as part of their ambitious growth strategy. This will be aimed at whisky tourists and connoisseurs eager to explore the nuances of whisky making. Siddhartha Sharma, Promoter, Piccadily Agro Industries, says the Indian alco-bev industry has emerged as one of the world's most dynamic markets, driven by rising disposable incomes, evolving consumer preferences and a growing appreciation for premium spirits. “We are witnessing a remarkable shift as Indian consumers increasingly gravitate towards premium craft spirits, particularly in categories like single malts and aged rum. This evolution has created an unprecedented opportunity for Indian producers to not just serve the domestic market but to take their place among global industry leaders,” he states.

finance ministry was evaluating the relevance of windfall tax, a federal government source said on Thursday. The federal finance ministry will evaluate scrapping windfall tax on domestic crude oil output, Tarun Kapoor, adviser to the Indian prime minister, said last month.

Piyush Goyal said at a press conference on November 28. India is emerging as a quality-conscious nation now, Goyal said. India's rising impact in the emerging sectors is a result of the establishment of an inter-connected ecosystem, the minister added. The speed at which the 5G network is expanding, it will be there across the nation soon, Goyal remarked.

cement industry in India is expected to witness a significant capacity expansion of 70-75 million metric tonnes (MT) over the next two years, according to the rating agency ICRA. Of this, around 33-37 million MT will come from clinker capacity, while the rest will be from grinding capacity. It said «Around 33-35 million MT capacity is likely to be added in FY2025 (FY2024: 32 million MT), while 37-39 million MT addition is expected in FY2026».

Adani Group founder Gautam Adani have highlighted the growing problem India's renewable energy developers face in finding buyers for the power they generate. While India's central government wants to shift away from polluting coal-fired generation towards solar and wind, officials say state government-owned power distribution companies responsible for keeping the lights on have dragged their heels over striking renewable purchase deals. U.S. authorities allege that Indian billionaire Adani conspired to devise a $265 million scheme to bribe Indian state government officials to secure solar power supply deals, after one of his companies was unable to secure buyers for a $6 billion project for several years.