Manufacturing Financial News

Mint in an interview. Also read | Zetwerk charts ₹1,000 crore game plan for electronics manufacturing “In the next two quarters, MoUs (memorandums of understanding) with global firms from Korea, Japan and Taiwan will be signed, through which we will get into new sectors of automotive and defence electronics. In the next financial year, we’re looking at making servers locally and we will also expand our laptop manufacturing capacities.

Basketball player, on an event as last year James closed his scoring record of NBA. Nike hired Dominic Ciambrone for this glorious job instead of hiring the in-house designer, as per a report.

Business groups have expressed “deep concern” over the looming pilot strike at Air Canada, which they said would significantly disrupt Canada’s supply chain.

India will buy soybeans from farmers of the central state of Madhya Pradesh at state-set support prices to help growers reeling from a crash in domestic rates for the oilseed, a government statement said on Wednesday. India uses soybeans to manufacture soyoil, which helps the country cut its hefty edible oil imports, while the by-product soymeal is used for animal feed and exported mainly to Southeast Asia and the Middle East. Farmers plant soybeans during the monsoon season in June and July and harvest the main summer oilseed crop from October.

The Centre has allocated Rs 10,900 crore for two years for the PM E-Drive scheme which will subsidise electric two wheelers, three wheelers, and buses. Hybrid ambulances and electric trucks will also be aided under it. It will support 24.79 lakh electric two-wheelers, 3.16 lakh e-three wheelers, and 14,028 e-buses. Announcing this, Information and Broadcasting Minister Ashwini Vaishnaw said that 88,500 electric vehicle chargers will be set up under the scheme. The decision on PM E-DRIVE Scheme was taken at the meeting of the Union Cabinet chaired by Prime Minister Narendra Modi, Vaishnaw told reporters.

There might be a strike at Boeing this week after all

China’s exports grew for a fifth consecutive month

avoid the fate of Micromax? Why is the Indian consumer suddenly falling out of love with smartwatches? The one-word answer is fatigue. The focus on one’s health in the aftermath of the pandemic saw a large part of the population take to an active lifestyle. Smartwatches that helped measure your daily calorie burn, step count, heart rate monitor and sleep pattern analysis, became a much sought-after accessory.

Authorities in Congo say 50,000 doses of the mpox vaccine from the United States have arrived in the country

South China Morning Post, the Hong Kong daily, reported that the Malaysian Retailers Association has publicly called on Kuala Lumpur to significantly raise duties on imported goods costing $115 or less from the 10% levy imposed in January. The retailer’s association estimates it is losing 30% of its business to e-commerce portals selling goods shipped in from China. “Because we have not tightened up any rules or regulations, Malaysia has become a dumping ground for excess capacity from China," Ameer Ali Mydin of the Malaysian Retailers Association told the newspaper.

equity mutual funds through a mix of lump sum investments in new fund offers (NFOs) and systematic investment plans (SIPs). Equity schemes garnered ₹38,239 crore in August — the 42nd straight month of inflows — as against ₹37,113 crore in the previous month led by flows into thematic funds, a category that has witnessed a flood of new fund offers in recent months. Flows through SIPs into mutual funds inched up to ₹23,547 crore — the highest ever in a month — compared to ₹23,332 crore in the previous month.

Aashish Somaiyaa, CEO, WhiteOak Capital AMC, says financial services have seen some significant gains in the capital markets over the past three to six months and remain a pocket of safety. WhiteOak has been leaning heavily into this sector. When it comes to IT, they are focusing more on small and midcap companies, especially those serving BFSI clients. They also look at consumer stocks selectively since they invest across various sectors without any specific bias. They are still heavily invested in industrials and manufacturing. Somaiyaa says typically, a change of macros is accompanied by a change of style, sector and market cap and that is what we are witnessing right now. What exactly is happening in the auto space? There was a time when everyone was only singing one tune that auto is a one-way street and that upward momentum is coming in. There was a lot of demand on the ground. But right now, it is the opposite. We are seeing high inventory levels for most of these auto players at the dealership levels. The sales are also not picking up. What is the take coming in the auto sector? How should one read through all of this data while investing in the sector, which is very crucial for the economy? Aashish Somaiyaa: We have to see the entire five-year period.

Indian automakers are gearing up for a crucial test of market sentiment this festive season as they seek to reverse a slowdown in demand that has hurt sales of all types of vehicles. The extended monsoon season dampened consumer sentiment in the rural region, impacting two-wheeler sales, said Yogesh Mathur, director, sales and marketing, Honda Motorcycle & Scooter India (HMSI). “The festival season will be crucial for the two-wheeler market." Apart from a prolonged monsoon, low consumer appetite for spending and rising vehicle costs also contributed to a slump in both entry-level and premium vehicle sales.

Tata Motors, which has slashed prices on some of its popular vehicles by up to ₹2 lakh. Other manufacturers and even financiers have laid out schemes to draw customers.

Rep. Maria Salazar, R-Fla., on Vice President  Kamala Harris proposal to help small businesses and House Speaker Johnsons expected move to link the SAVE Act to federal funding.

S Jaishankar on Tuesday said India is open to pursuing business with China, but the question is in what sector and under what terms. He was speaking in Berlin at Germany's annual ambassadors' conference. Jaishankar stated that China was the world's second-largest economy and a premium manufacturer.

Air India Express, which is set to complete the merger of AIX Connect with itself next month, will phase out business class seats in its aircraft in 2025, according to a senior airline official. Currently, the carrier, part of Tata Group, has a fleet of 85 aircraft — 25 A320 family planes and 60 Boeing 737s. By year-end, the total number is expected to be around 100. The airline has 34 white tail Boeing 737-8 aircraft and out of them, 29 have business class seats of varying numbers. Their count will rise to 50 by the end of this year. Generally, white tail planes are those that were originally manufactured for a particular airline and later taken by another airline.

Essar Energy Transition (EET) teamed up with UK gas-fired power generator SSE to build a 40 MW green hydrogen project in northwest England, the firm said on Tuesday. «SSE and EET Hydrogen have begun development work on the innovative project at the Stanlow Manufacturing Complex in Ellesmere Port in Cheshire,» the firm said in a statement. Known as Gowy Green Hydrogen, it takes its name from the River Gowy and nearby Gowy Meadows Nature Reserve. The initial expected 40 MW facility will deliver hydrogen to industrial offtakers in the region to support them to decarbonise their operations, helping to secure and grow jobs in the region.

discounts on cars. Tata Motors recently reduced prices on its popular cars and SUVs by up to Rs 2.05 lakh.

GCC) in Hyderabad, where it will be adding around 300 technology jobs by the end of next year.

«So, thermal; renewable; transmission; distribution with smart meters; pump storage; airports, Jewar, Navi Mumbai, these are all happening sectors,» says Vinayak Chatterjee, The Infravision Foundation. The private sector capex is not starting. We all are waiting, waiting, waiting and watching. Why is that? Vinayak Chatterjee: Actually, it is strictly not true that private sector capex is not happening. Let me outline for you the sectors where robust private sector investment is happening. So, I really do not know why you say that. Take the case of power, there is an uptick in investments by private sector in new green field as well as picking up distressed thermal coal assets and pumping more money into them.