Country Financial News

Nestle India has «strong commitments» for local manufacturing with plans to invest Rs 4,200 crore by 2025, including in its 10th plant in the country at Odisha, its Chairman and Managing Director Suresh Narayanan said on Friday. Nestle India, the maker of popular Maggi noodles, KitKat chocolate and Nescafe, is investing to create capacity as it sees «fairly robust» demand in coming years in the Indian market. «The investments done are fairly significant… till the first half of 2023, about Rs 2,100 crore already been invested on capital investments,» said Narayanan in a media roundtable here.

UAE student has been named in the prestigious top 50 Global Student Prize 2023 shortlist. Gadhia was picked from a pool of nearly 4000 applications received from 122 countries. He is currently studying at Dubai College in the UAE.

lingerie and sleepwear brand, la Vie en Rose has partnered with Apparel group that sells brands such as Aldo, Charles & Keith and Bath & Body Works for India entry. “Our expansion into India market reflects our dedication to providing customers with exceptional fashion options and an enjoyable shopping journey,” said François Roberge, President and CEO of la Vie en Rose.

Lok Sabha on Friday. This bill proposes to empower the Central government to exclusively auction mining lease and composite licence for 26 critical minerals in the country.

semiconductor sector. Prabu Raja, president of the US company’s semiconductor products group, said India is on its way to becoming a major hub for semiconductor packaging and assembly. That should create a solid foundation for the industry, setting the stage for the country to move into more challenging — and expensive — semiconductor manufacturing.

The countries discussed the importance of scaling the transition to net zero financing and addressing emission reductions. Singapore shared projects that aim to address energy transitions in Asia.

₹5,612.25 crore, 4,058 PG seats in phase-I in 72 colleges at an approved cost of ₹1,498.43 crore and ,3957 PG seats in phase-II in 62 colleges at an approved cost of ₹4,461.44 crore. “Under “Upgradation of Government medical colleges by construction of Super Specialty Blocks" of PMSSY scheme, a total of 75 projects have been approved, of which 62 projects are complete.

New Delhi: Prime Minister Narendra Modi on Friday reaffirmed India’s unwavering commitment to biodiversity conservation, climate action, and environmental protection while addressing the G20 environment and climate ministers‘ meeting in Chennai via video message. Emphasizing the global responsibility to protect the Earth, the prime minister said climate action was a fundamental duty that had been ignored for too long.

“I am become death, the destroyer of worlds," said Dr J Robert Oppenheimer, quoting (or misquoting, according to some) the Bhagavad Gita after witnessing the mushroom cloud that marked the success of the Manhattan Project in building the world’s first nuclear bomb. Twenty days later, an American bomber dropped ‘Little Boy’, as the first bomb was named, on Hiroshima. Three days later, ‘Fat Man’ burnt Nagasaki to a cinder.

New Delhi: The 10th meeting of the sub-committee on military cooperation between India and Malaysia was held here on 27 July, the ministry of defence said in a statement. The Indian delegation was led by Amitabh Prasad, joint secretary (International Cooperation), Ministry of Defence, while the Malaysian side was headed by Maj Gen Dato‘ Khairul Anuar bin Abd Aziz, assistant chief of staff, Defence Operations and Training Division.

Tata Motors on Friday delivered a prototype of its indigenously-developed electric bus to the Bengaluru Metropolitan Transport Corporation. The Bengaluru Metropolitan Transport Corporation (BMTC) has placed an order for 921 advanced e-buses with the auto major, Tata Motors said in a statement.

MG Motor India on Friday said it has tied up with electric mobility service provider IONAGE to strengthen charging infrastructure across the country in order to promote intercity travel by electric vehicles. The partnership was officially announced with the inauguration of ten destination charging stations across Lucknow, Trivandrum and Cochin. As part of the tie-up, MG Motor will leverage IONAGE's e-mobility platform to provide seamless access to EV owners of MG Charge points, the automaker said in a statement. MG Charge is an industry-first initiative by any original equipment manufacturer (OEM) to empower destinations like hotels, residential societies, public locations, and corporates to embrace green transportation and future-proof their property and communities.

Lok Sabha on Friday passed the National Nursing and Midwifery Commission Bill, 2023 and the National Dental Commission Bill, 2023, which seek to usher in better quality of nursing and dental education. The National Dental Commission Bill seeks to repeal the Dentists Act, 1948 and proposes to set up National Dental Commission (NMC) to regulate dental education and the profession in the country.

Singapore is in close contact with Indian authorities to seek exemption from the country's ban on export of non-basmati rice, the city state's food agency said on Friday. "Singapore Food Agency (SFA) is working closely with importers to increase the import of different varieties of rice from various sources. Singapore is also in close contact with the Indian authorities to seek exemption from the ban," said a statement from SFA.

«The macros of the country, they are all good. And we are seeing opportunities in almost all sectors whether it is steel, cement, textile, even city gas, advanced metering, NBFCs. So there are a number of sectors where we are getting good opportunities even in LRDs and all.

Uttar Pradesh government’s announcement on incentives for private developers building townships in the state is expected to boost the sector and help in organised developments, according to real estate developers. Under the New Township Policy 2023, the developers will receive relief in the form of a reduction in the conversion fee for land use. “The new Township Policy 2023 will attract investments and empower private developers to contribute to the development of the state.

The Victorian government has drawn a line in the sand on the household use of natural gas in the biggest gas-consuming state in the country, but the state’s big gas problem hasn’t gone away.

Prime Minister Narendra Modi on Friday invited global semiconductors majors to come and invest in India and asserted that whosoever comes forward will have a “first mover’s advantage," while speaking at the 'Semicon India 2023' event.PM Modi said that India wants to emerge as a trusted partner for the semiconductor industry and is keen to be a chip supplier for the world. He told investors," You have to develop a chip-making ecosystem for Indians. I believe whosoever comes forward will have a first mover’s advantage." The event was aimed at bringing together global leaders from industry, academia and research institutions.

Semicon India conference in Gandhinagar, Gujarat. The event is being held in an effort to attract investment into India's chip industry and establish the country as a semiconductor manufacturing hub to rival countries like Taiwan and China.

BRICS group of emerging markets to grow its political clout and counter the US, officials with knowledge of the matter said. The countries have raised objections in preparatory talks for a summit in Johannesburg next month where Brazil, Russia, India, China and South Africa will discuss potentially expanding the group to include Indonesia and Saudi Arabia. China has repeatedly lobbied for expansion during those meetings, said the officials, who asked not to be identified as the discussions are private.

Smallcap firm Servotech Power Systems hit a 5% upper circuit at Rs 90.9 in Friday's trade on NSE on stock split and setting up a wholly-owned subsidiary — Techbec Green Energy. According to information available on NSE, the board earlier announced the sub-division (split) of equity shares in the ratio of 1:1. That means each share of the company with a face value of Rs 2 is split into two shares with a face value of Re 1 each.