Manufacturing Financial News

fire took place, this time in Pimpri-Chinchwad area of Pune. Several videos of the incident have been posted on the social media platform X. However, this time the company has claimed that the incident occurred due to an aftermarket part used in the scooter.

The BSE Sensex was trading 168 points or 0.26% lower at 63,614. Nifty50 was trading at 19,003, down 43 points or 0.23% at around 9.18 a.m.

The trade ministers of the Group of Seven nations pledged to build a wider network with developing nations to ensure supply chains are resilient for key items including critical minerals, semiconductors and batteries, according to the group’s joint statement released Sunday at the conclusion of their two-day gathering in Osaka, Japan. “We deplore actions to weaponise economic dependencies and commit to build on free, fair, and mutually beneficial economic and trade relationships, and accelerate such collaboration with the wider international community,” the group said in its joint statement.

At least one in two Indian employees are worried about losing their jobs to AI compared to one in three in developed countries, according to the findings of Randstad work monitor quarterly pulse survey shared exclusively with ET. Among the reasons for the increased concern among Indian employees is the presence of a large workforce in BPOs and KPOs, which are particularly vulnerable to AI automation, and high rate of AI adoption in the country, said Viswanath P.S., managing director and chief executive at Randstad India. «There are a lot of KPOs and BPOs in India where employees work on several operational tasks that AI can potentially take over. We must also consider that AI adoption in India is among the fastest in the world,» said Viswanath. «These employees must be thinking about future-proofing their careers through continuous learning, as they prepare for potentially unexpected AI interventions,» he said. The Q3 2023 Randstad work monitor edition focuses on workers' skilling demands and AI.

Indian diamond houses, which cut and polish nine out of 10 stones, told banks last week that the next four months would be crucial. The trade that suffered a 30% drop in prices of natural stones and dealt with over 50% slide in lab-grown diamond (LGD) prices in the past one year, is in touch with global mining giants like DeBeers for marketing assistance after putting a temporary ban on imports. With China, the second-largest market refusing to pick up, the trade is betting on Diwali, US Thanksgiving (November 23), Christmas and finally Valentine’s Day to push out the unsold gems. A lurking concern among the traditional diamantaires is that while the supply of mined diamonds has slowed following the import ban, there is no control over LGD prices as anyone having the money can set up LGD factories. But LGD players say the prices have stabilised with 2 out of 11 players globally going bankrupt. “We met senior bankers on Friday.

Infosys co-founder NR Narayana Murthy's suggestion to India's youth to work more hours has stirred a controversy in a country that has among the world's longest working weeks, yet trails in labour productivity by international standards. The obvious analogies to rebuilding post-war Germany and Japan may be misleading, because those countries faced labour shortages. India has a problem with unemployment and underemployment that pulls down its labour productivity.

₹250 crore fund-raising led by the investment arm of brokerage firm Motilal Oswal on 7 September for the third time after infusing ₹350 crore in April, and ₹250 crore in January 2020. While Bansal did not divulge the names of firms it is in talks with for smartphone manufacturing, he said its phone assembly business may begin with existing clients from other product categories. Its global expansion is driven by the need to meet regulations across geographies, and to reduce shipping times to global markets.

Jasprit Bumrah and Mohammed Shami bowled superbly in their magical opening spells after Rohit Sharma's rearguard 87 on a challenging pitch as India hammered England by 100 runs for their sixth straight win in the World Cup on Sunday. The emphatic win would not have been possible without the special effort of skipper Rohit (87 off 101 balls), whose sublime knock stood out as most Indian batters fell by the wayside on a two-paced pitch. Suryakumar Yadav (49) got the much needed runs in the death overs to push India to 229 for nine. Shami (4/22) and Bumrah (3/32) stole the show with the ball for the unstoppable hosts as England batters once against cut a sorry figure as they slumped to 129 all out in 34.5 overs for their fifth loss in six games. England are virtually out of semifinal contention while India, the only unbeaten side in the tournament, are almost there. Having put up a below par total, India needed early wickets to put pressure on a struggling England batting unit.

German government and Siemens Energy to strike a deal over around 15 billion euros ($15.9 billion) in guarantees for the power equipment firm continued over the weekend, according to two people familiar with the matter. Shares in the company, which was spun off from former parent Siemens in 2020, fell as much as 39% to a record low last week after the discussions became public, the latest blow after the company unveiled major quality issues at its wind turbine unit Siemens Gamesa. The sources in this story declined to be identified due to the sensitivity of the matter. Here are answers to the most pressing questions: Is this a government bail-out? No.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: EV makers are hitting pause on EV production; BP makes a deal; and Tesla escapes EU probe.

(Reuters) — Talks between the German government and Siemens Energy to strike a deal over around 15 billion euros ($15.9 billion) in guarantees for the power equipment firm continued over the weekend, according to two people familiar with the matter.

Dixon Technologies (India) Ltd for the September quarter (Q2FY24). Thanks to the 77% year-on-year growth, the segment’s contribution in the overall revenues rose to 57% from 41% a year ago. Mobile segment growth was led by execution and new client additions.

Hi-Tech Pipes has posted over two-fold jump in consolidated net profit at Rs 10.53 crore in the September quarter, on higher income. It had clocked Rs 4.34 crore net profit in the July-September period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Saturday.

Narendra Modi, while addressing the 106th episode of the Mann Ki Baat radio program on Sunday, said that Khadi Mahotsav has broken all records this month. "Earlier this month, Khadi witnessed record sales in Delhi...This month's ongoing Khadi Mahotsav has once again broken all records. On Gandhi Jayanti, Khadi witnessed record sales," said PM Modi.

Nifty50 ended with weekly declines of 2.5% amid the Israel-Hamas conflict, higher bond yields and the ongoing earnings season. Amid a host of important domestic and global events lined up during this week, know what lies ahead for the stock markets. After relentless selling in recent days, Nifty has temporarily paused its decline due to an oversold chart setup, Rupak De, Senior Technical analyst at LKP Securities said, adding that the index closed significantly below the critical breakdown level of 19,250.

iron ore, ready to be poured into a procession of bulk carriers bound for Asia’s steel mills. Rio Tinto Group, the world’s largest iron ore producer, shipped its first cargo of the steelmaking ingredient from this spot in 1966, at the dawn of a boom that minted billionaires and lifted the Australian economy, generating A$1.3 trillion ($820 billion) in earnings in the past two decades alone. Last year, iron ore shipments accounted for about 5% of the country’s gross domestic product. But now China is cooling, while steel producers are under pressure to clean up a sector that accounts for at least 7% of global greenhouse gas emissions, a change that will require new methods and higher-quality raw materials.

Also Read: These 10 smallcaps log double-digit rise even as Sensex posts worst weekly decline in a month; do you own? Sensex and Nifty have slipped 3.18 per cent and 3.17 per cent in the last seven days, posted their worst weekly decline in one month. During the week, all sectoral indices ended in red with media and metal declining the most. In the broader markets, the domestically focused small- and midcaps have lost 5.1 per cent and 6.4 per cent, respectively in the past six sessions.

VinFast Auto is evaluating potential sites for its planned manufacturing facility and has already reviewed two locations in Tamil Nadu, people aware of the developments told ET. Touted as a rival to iconic EV maker Tesla, the auto company has been shown land in the Manalur region north of Chennai as well as in one of the state’s southernmost districts Tuticorin, according to sources who said that VinFast was also set to evaluate plots in Gujarat shortly.

Brisbane fast-charging company Tritium may be forced to close its Australian factory and move its headquarters overseas after a dramatic fall from a “double unicorn” $2 billion listing on the Nasdaq two years ago to being issued a show-cause notice last week about its underperformance on the American bourse.

Egypt's President Abdel Fattah al-Sisi on Saturday urged all to respect Egypt's sovereignty and position in the region following incidents on Friday where drones fell on two Egyptian Red Sea towns. Egyptians should feel safe and the army is able to protect the country, Sisi said at a manufacturing expo in Cairo.

According to Datasembly, a retail price tracking company, the prices of candy and gum have surged by an average of 13% this month compared to last October, which is more than double the 6% increase in all grocery prices. This increase comes on top of a 14% jump in candy and gum prices in October 2022. Weather Impact The driving force behind these higher prices is adverse weather conditions.