Manufacturing Financial News

The Environmental Protection Agency has set strict emissions standards for heavy-duty trucks, buses and other large vehicles

The Texas attorney general says he's investigating a key Boeing supplier that is already under scrutiny by federal regulators over the quality of its work on Boeing planes

JSW Steel on Saturday announced commissioning of a hot strip mill at its integrated steel plant in Vijayanagar, Karnataka. The company has also made first dispatch of steel products from the mill having an annual capacity of 5 million tonnes (MT), JSW Steel said in an exchange filing. "JSW Vijayanagar Metallics Ltd (JVML), a wholly-owned subsidiary of the company, today successfully commissioned its hot strip mill (HSM) at Vijayanagar plant with a capacity of 5 MTPA and has made its first dispatch," the company said. The HSM facility has the capability of manufacturing plates and coils and is equipped with advanced features such as digital reheating furnaces, evaporative cooling system and waste heat recovery system, among others.

Telangana IT Minister, Sridhar Babu Duddilla, has in a fervent plea appealed to people of the state to support the Congress and the INDIA bloc if they want to safeguard democracy. «All the people of Telangana, if they want to safeguard this democracy, please join and support us, the Congress, and the India bloc. This is the appeal we are putting before the people of Telangana. We are hopeful that it will be a huge gathering, which no one can even expect,» Babu Duddilla said. On being asked about the leaders joining the gathering, he said, " I am not the correct person to talk about this until and unless AICC conveys."

India has taken the right path to achieving self-sufficiency in semiconductors by starting with production of the relatively less complex mature nodes, said a top executive of Taiwanese fabless chipmaker MediaTek. «I think that it is a good strategy adopted by the Indian government that they started with the mature nodes, because they are less complex.,» Anku Jain, managing director, MediaTek India, told ET in an interview. «4nm is complex and relatively more difficult to implement. The new fabs that are coming up in India want to start with the mature node (as) it is slightly easier. I think that is the right approach.»

Suruchi Properties ₹450 crore debt from Edelweiss Special Situations Fund at 18-20%, continuing with the trend of big investments by private credit funds into the real estate sector. «Edelweiss has done two investments in the real estate side from its special situation fund ₹11,000 crore in the last week and is closing on with the next investment in a manufacturing company,» said a source. «They have invested ₹325 crore in Prateek and ₹450 crore in Suruchi Properties. Both the deals have happened at around 18-20% and Edelweiss has financed the completed, constructed and fully ready projects.»

Japan's demand for foreign labor has increased due to factors such as its declining birthrate and shortages in transportation and logistics industries. These shortages are expected to worsen with the implementation of new regulations limiting overtime hours for drivers starting in April, referred to as the «2024 problem.» The government aims to admit up to 820,000 foreigners under the skilled worker visa program over the next five fiscal years, beginning in April. This number is more than double the previous estimate for the five years leading up to fiscal 2023, which ended in March.

BENGALURU : Amid a year of turbulence for leading domestic IT service providers, smaller niche markets are emerging as promising avenues for sustained growth. However, while India’s top five IT companies are expected to benefit from it, midcaps and smaller exporters may face challenges as larger peers target their key markets.

Electric two-wheeler registrations in India are set for a record high in March, topping 100,000 units for the second time in less than a year, as the rush to buy before a possible price increases. Vehicle registration count is a proxy for retail sales. It touched 111,964 units for electric two-wheelers on March 29 — the highest for any month — according to data from Vahan, the government's repository of all vehicle registrations in India. The previous monthly high was 105,389 units in May 2023, when consumers had brought forward their purchase plans to avoid paying more due to a reduction in government subsidy from June.

clean energy. GoI is reportedly planning to offer free PNG connections and consumption subsidies to poor households to help its wider adoption, following the Ujjwala scheme, which nudged the less well-off to use LPG instead of burning biomass. That's fine.

solar modules will be reimposed from April 1, a measure aimed at fostering local capacity. It had earlier exempted solar projects commissioned by March 31, 2024, from the mandatory requirement of procuring solar modules from the approved list of models and manufacturers (ALMM) for 2023-24. The mandate, introduced in 2021, required solar project developers to buy modules from the approved list as a non-tariff barrier to boost domestic manufacturing.

Viral Bhayani on Instagram on Thursday and has garnered 143,770 likes till now. ALSO READ: IPL 2024: ‘No one better than MS Dhoni in India’, Steve Smith calls him ‘tremendous person’ A post shared by Viral Bhayani (@viralbhayani) According to details, the Doodle V3 is a foldable electric bike that offers a top speed of 25 kmph.

Elon Musk, the visionary CEO of Tesla and SpaceX. Musk's remark highlighted the stark contrast between the glamorised portrayal of lone inventors having eureka moments in garages and the often-overlooked complexities of large-scale manufacturing.

Bambrew, a cleantech startup operating in the sustainable packaging space, on Friday said it has raised Rs 60 crore (about $7 million) in Series A funding round led by Blume Ventures. The funding was a mix of equity and debt. The equity element totalled to about Rs 30 crore, a company spokesperson told ET.

Under this multi-year agreement with AWS, Minfy will help enterprises across multiple industries worldwide leverage AI and cloud technologies to deliver new solutions, like the Swayam.ai generative AI app store. Swayam.ai serves healthcare, aerospace, logistics, manufacturing, and public sector customers worldwide with solutions including intelligent chatbots, sentiment analysis tools, and text-to-video conversion. Minfy plans to further international expansion in the U.S., Australia, and in Southeast Asian countries like Malaysia and Philippines with AWS.

₹1,823.08 crore. Isuuing a statement, the party said, “Yesterday, we received fresh notices from the IT department to pay ₹1823.08 crores. Already the IT department has forcibly taken away ₹135 crores from our Bank account." “Before the dust could settle on that vindictive unprecedented action, now in a patently illegal and undemocratic action the frontal organisation of the BJP – namely the Income Tax Department – has launched its next premeditated, diabolical campaign against the INC.

Best Agrolife Ltd (BAL) on Friday announced the acquisition of a 100 per cent stake in Sudarshan Farm Chemicals India Pvt Ltd (SFCL) for Rs 139 crores. The acquisition will enable BAL to leverage SFCL's proficiency in developing cost-effective and distinctive manufacturing routes for off-patent molecules, it said. «This acquisition involves obtaining a 100 per cent stake through cash consideration, with an estimated enterprise value of Rs 139 crores based on the valuation,» the Delhi-based BAL said in a statement. The cash outflow for BAL will be to the tune of Rs 9.5 crore after considering the net working capital and liabilities, it said.

Tredence is investing 10% of its annual revenues in developing GenAI and advanced AI capabilities across engineering, customer experience, machine learning operations, supply chain and other functions in the data analytics domain. By enabling enhanced productivity and new business streams, the San Jose-based startup is looking to grow its revenues by 40-50% in 2024, CEO Shub Bhowmick told ET.

Georgia lawmakers have agreed to change a state law so that a private utility can provide water service to homes near Hyundai's upcoming electric vehicle plant without permission from local governments

Aurobindo Pharma on Thursday said the deadline for negotiations between its arm CuraTeQ Biologics and Merck Sharp & Dohme Singapore for contract manufacturing operations for biologicals has been extended till May next year. Last year in October, CuraTeQ Biologics Pvt Ltd and Merck Sharp & Dohme Singapore Trading Pte Ltd and its affiliates (MSD) had signed a letter of intent (LoI) for contract manufacturing operations (CMO) for biologicals, whereby the parties intended to conclude the negotiations by March 31, 2024. «In this regard, we further inform you that said negotiations are yet to be concluded and the parties to the LoI have agreed to extend the timelines with the intention to conclude the said negotiations by May 31, 2024,» Aurobindo Pharma said in a regulatory filing. As per the LOI, CuraTeQ proposed to serve the US-based biopharmaceutical company through its contract manufacturing subsidiary, TheraNym Biologics Pvt Ltd.