Expansion Financial News

Digital asset services firm, Galaxy Digital seeks an international expansion to Europe with the addition of a regional chief.

Sugar industry body ISMA on Wednesday demanded that the government should come out with a long term policy and formula for ethanol pricing in order to encourage mills to expand capacity by around 400 crore litre which will require an estimated investment of Rs 17,500 crore. Briefing media about the demand-supply scenario of sugar for the 2023-24 marketing year starting next month, Indian Sugar Mills Association (ISMA) President Aditya Jhunjhunwala also demanded that the minimum selling price of sugar should be enhanced to Rs 38 per kg from the current Rs 31 per kg in view of an increase in production cost. He said the ISMA will come out with a fresh sugar production estimate for the 2023-24 marketing year (October-September) during November after analysing the satellite image of sugarcane area across major producing states and then only would be able to assess whether there is any surplus for exports after meeting the domestic demand of sugar and ethanol. «At present, the sugar industry has an installed capacity of 700 crore litre for ethanol production and we operate at 80 per cent capacity utilisation.

By Nia Williams and Stephanie Kelly

Olivia Rodrigo, the pop star, has increased the number of shows for her Guts World Tour, just as she hinted earlier. She recently shared the news of 18 additional tour dates on her social media.

Tata Motors Ltd. is in the process of creating specialized dealerships in India, specifically designed to cater to electric vehicles, as part of its strategy to further strengthen its position in the fast-growing electric vehicle market, as per Bloomberg. “We felt the need to create a different brand philosophy and personality for EVs.

MobileCoin, a privacy-focused payments network and the builder of Signal's crypto payments feature, has moved its chief technology officer, Sara Drakeley, into the chief executive officer position. 

India and Brazil on Sunday agreed to work together for the expansion of India-Mercosur preferential trade agreement (PTA) to further promote economic ties, an official statement said. Mercosur is a trading bloc in Latin America, comprising Brazil, Argentina, Uruguay and Paraguay. The issue came up for discussion during the meeting of Prime Minister Narendra Modi and Brazilian President Luiz Inacio Lula da Silva here at the sidelines of the G20 Summit. «Expressing satisfaction over the growing trade between India and Mercosur, both leaders agreed to work together for the expansion of India-Mercosur PTA during Brazil's Mercosur Presidency, to leverage the full potential of this economic partnership,» a joint statement issued after the meeting said. The two countries also welcomed the establishment of the India-Brazil Business Forum as a dedicated platform for private-sector collaboration. «The leaders noted with satisfaction the conclusion of domestic procedures for the entry into force of the India-Brazil Social Security Agreement,» it added. India-Mercosur preferential trade agreement (PTA) came into effect on June 1, 2009. In such agreements, two countries reduce or eliminate customs duties on a limited number of goods agreed between them.

Uber Technologies Inc. is working on a TaskRabbit-like service that will let app users hire people to conduct various tasks in an expansion beyond driving and deliveries. The potential new service, codenamed “Chore,” was discovered inside of Uber’s iPhone app within hidden code strings. According to the code, a “tasker” can be hired for a minimum of one hour. The app will ask users to specify what job is needed, how long it will take and when they want the person to arrive.

Digital asset exchange Coinbase sets out plans for a global expansion flagging jurisdictions outside the United States as “near-term priority markets.”

By Echo Wang and Svea Herbst-Bayliss

NEW DELHI : India aims to achieve the twin objectives of adding the African Union as a member of G20 and resolving disagreements about a joint statement related to the war in Ukraine at the upcoming G20 Leaders’ Summit in New Delhi on 9-10 September. India, which has centred its G20 presidency around the concerns of the Global South, will view the inclusion of the African Union as a significant achievement, in line with its aspiration to represent the interests of low-income, developing nations. The inclusion of the African Union has also received the support of the European Union (EU), France and the US.

Multibagger stock: BCL Industries shares are one of the multibagger stocks that Indian stock market has produced in recent years, especially in post-Covid rebound. This multibagger stock has risen from around ₹50 to ₹500 apiece levels in last three years, delivering a whopping 900 per cent return to its positional shareholders in post-Covid stock market rebound. However, it seems that the stock still has some steam left.

National law firm Hall & Wilcox has set its sights on further expansion as it announces a takeover of boutique Brisbane-based firm McMahon Clarke.

«I do not think people expecting them to grow very much but the PE expansion is now getting into a zone which hopefully the festive season will give one positive surprise to us but if it does not you could have a lot of grief sitting all there,» says Ajay Srivastava, Dimensions Corporate.Just wanted to understand what do you make of the strength in the mid and the small caps and the disconnect with what the large cap universe has been doing? Do you think it is getting a little toppish when it comes to individual segments at least within the mid and small cap universe and is it time to tread with caution?I keep saying this again and again that this India is a market of flows, I think that is where we are at this point of time that the midcap, small cap, mutual funds are driving this market into PE expansion. I do not think people expecting them to grow very much but the PE expansion is now getting into a zone which hopefully the festive season will give one positive surprise to us but if it does not you could have a lot of grief sitting all there.

Johnson & Johnson plans to tap billions in proceeds from the recent split-off of its consumer-health business to fuel growth in pharmaceuticals and medical technology through capital allocation, which could include new acquisitions and investments in product offerings and robotics. The New Brunswick, N.J.-based healthcare giant in May sold shares in Kenvue, which owns brands such as Band-Aid and Tylenol, through an initial public offering that netted J&J $13.2 billion in cash. In August J&J shed about 80% of its Kenvue shares through a roughly $40 billion split-off, whereby some investors chose to trade in their shares of J&J for Kenvue ones.

Jim O'Neill came up with the term ‘BRIC’ (Brazil, Russia, India and China) in 2001, little did he know that the acronym would become the groundwork for an ambitious alliance of the world’s highest-potential large economies. That potential is, in a way, now spreading, even as more nations dare to dream beyond the West’s hegemony. The BRICS bloc was born in 2009 as a response to the changing global economic landscape, aiming to promote cooperation on common challenges.

Ikea is embarking on a multifaceted expansion strategy in India as it enters its second phase of growth in the country. The company's plans include diverse retail formats, online operations in Delhi-NCR by the end of 2024, and increased local sourcing to make its products more affordable for Indian consumers. Susanne Pulverer, CEO of Ikea India, emphasized the company's commitment to long-term growth in the Indian market.

₹50-crore plus in revenue," he said. The startup, which is in talks with venture capital firms and angel investors to raise about $500,000 in pre-seed funding, offers end-to-end services to establish a brand in the market.

ET Intelligence Group: Wooden panel and laminate companies reported sluggish volume growth and margin contraction during the June 2023 quarter following slower home improvement demand and higher timber prices. Leading plywood companies are however optimistic about the demand scenario in the coming quarters amid abating input costs.

Washington | Australian tactical boat builder The Whiskey Project (TWPG) is seeking to raise $20 million for an expansion into the US to buildhighly specialised craft for US defence force use in shallow waters.

Reliance New Solar Energy since June 2021.