Manufacturing Financial News

Also Read: Asian markets mixed as China’s factory activity expands, US govt shutdown averts; dollar gains China’s GDP growth estimates for next year have been cut to 4.4% from the 4.8% previously projected. “In 2024, improving external conditions will help growth in the rest of the region but persistent domestic difficulties in China – the fading of the bounce back from the re-opening of the economy, elevated debt, and weakness in the property sector, structural factors such as aging – will weigh on growth in China, slowing it to 4.4% in 2024," World Bank said.

Read here: US Congress passes bill to fund govt for 45 days, averts shutdown Japan’s Nikkei 225 gained 0.68%, while the Topix rose 0.45%. Chinese markets are closed for the Golden Week holiday. Stock markets in South Korea and Hong Kong are also shut for holidays.

Akash Tripathi is set to take over as CEO of the India Semiconductor Mission (ISM) from October 9, official sources said. The addition to his portfolio of duties was notified by the ministry of electronics and IT on September 22.

The White House has pinned the blame for a possible government shutdown on House Republicans who, until Saturday, had been paralyzed by their inability to pass a funding package

Ukraine has hosted an international defense industry conference as part of a government effort to ramp up weapons production within the country to repel Russia’s full-scale invasion

An official Chinese survey says the country's factory activity has recorded its first expansion in six months

Indian Air Force is firmly on the path of indigenisation, with recent acquisitions resulting in a Rs 70,000 crore boost to the domestic economy, Air Chief Marshal VR Chaudhari told ET, adding that there has been a quantum increase in defence exports as well which will have a positive cascading impact on the economy in the coming years. The Air Force has been on a 'Make in India' drive, with more than 200 locally designed and developed light combat aircraft (LCA) set to be inducted and a range of helicopters, including attack choppers, set to be ordered soon. While 83 LCA Mk1A fighters have already been ordered, the air force has also moved a proposal to add 100 of the variant in an order that is expected to be of the tune of Rs 66,000 crore. The Air Force and Army are also working on inducting 156 'Prachand' light combat helicopters (LCH), at a cost of about Rs 50,000 crore. «Cash outflow to the Indian economy has been approximately Rs 70,000 crore through indigenous purchases.

anti-TB drug Bedaquiline to other countries without the fear of litigation, with multinational pharma giant Johnson & Johnson (J&J) confirming that it will not enforce secondary patents for Bedaquiline in any of the low and middle income countries. «The decision is intended to assure current and future generic manufacturers that they may manufacture and sell high quality generic versions of SIRTURO without a concern that the Company will enforce its bedaquiline patents, provided the generic versions of SIRTURO® produced or supplied by generic manufacturers are of good quality, medically acceptable, and are used only in the 134 low- and middle-income countries,» J&J said in a statement last week.

employee union of General Motors India has called for a chain hunger strike from Monday, demanding transfer of all its workers to Hyundai Motor, which plans to acquire its manufacturing facility in Talegaon. The American automobile giant stopped selling its cars in India from 2017. General Motors Employees Union in a statement on Sunday also accused the Eknath Shinde-led Shiv Sena-BJP government of not taking the unemployment issue of «thousands» of workers of the auto firm seriously.

General Motors India have threatened to go on an indefinite hunger strike from October 2 to protest their alleged non-absorption by Hyundai Motor India, the proposed new owner of the car manufacturing plant near Pune. The workers under the banner of the General Motors Employee Union (GMEU) are demanding that they be absorbed by the factory’s new owner. The hunger strike may further delay finalising a commercial agreement between Hyundai, which has its growth plans for the Indian market hinged on the Talegaon facility and the US automaker. The local arm of the Korean automaker signed a term sheet with GM for a potential buyout of the Talegaon plant near Pune on March 13. A final deal is subject to meeting certain conditions including obtaining regulatory approvals from relevant government authorities and all stakeholders. A spokesperson for Hyundai Motor India said the company doesn’t have any fresh update on the deal with GM, adding that the commercial agreement is still to be signed.

₹5,500 crore during this fiscal year to expand capacity, Amarendu Prakash, chairman, SAIL, said. “Last year, it was at ₹8,000 crore. Since current expenditure includes sustenance projects and de-bottling projects, it will be the same level as previous years, about ₹5,500 crores or so," he said on the sidelines of a conference.

Mohali: The government will take a call by the year end on whether Mohali-based Semi-Conductor Laboratory (SCL) will be developed further as a research and development facility or a commercial fab will be set up at the facility, according to a senior official. “The request for proposals for modernizing SCL has been issued only last week, but the government wants to move swiftly. Within a quarter, a call will be taken on which direction it will go, either R&D fab or a commercial fab," the official said, asking not to be named.

Penrith halfback Nathan Cleary manufactured an astonishing 26-24 comeback victory over the Brisbane Broncos as the Panthers became the first team in 40 years to win three straight National Rugby League titles in a Grand Final thriller on Sunday.

SHANGHAI (Reuters) — U.S. automaker Tesla (NASDAQ:TSLA) on Sunday released an updated version of its Model Y in China, with minor changes to the vehicle's exterior and interior.

Investing.com — Here is your weekly Pro Recap of the past week's biggest headlines in the electric vehicle space: Nio denies reports of fundraising effort; and Tesla finds itself subject to EU probe.

BMW X2. The video provides a glimpse of the car's side profile and its front fascia. From the teaser video, viewers can discern the coupe-like rear profile with a sloped roofline, an angled rear hatch, and a subtle fixed spoiler.

Bengaluru, an electric car burst into flames near Dalmia Circle in the JPNagar area, creating a horrifying scene that has gone viral on social media. Fortunately, no casualties have been reported, but the cause of the fire remains unknown. Electric vehicle fires, although rare in theory, often attract significant attention when they do occur. These incidents are primarily attributed to the high energy density of electric vehicle battery packs, which store a large amount of energy in a compact space. When the battery pack is damaged, an internal short circuit can trigger a chain reaction known as thermal runaway. During this process, the battery generates more heat than it can dissipate, leading to a fire. About 95% of battery fires in electric vehicles are classified as ignition fires, producing jet-like directional flames. The remaining 5% involve a vapor cloud explosion. Several factors can cause a battery to catch fire, including physical damage from accidents, manufacturing defects, battery faults, workshop repairs, arson, external fires, or overheating.

Tata Motors-owned Jaguar Land Rover (JLR) aims to launch eight battery electric vehicles (BEVs) in India by 2030, according to a senior company executive. The company currently sells one electric model — Jaguar I-Pace — in the country. In an interaction with PTI, JLR Chief Commercial Officer Lennard Hoornik said the automaker will commence taking orders for the Range Rover BEV for the Indian market next year with deliveries expected to begin in 2025. «We are planning to introduce at least 8 BEVs by the end of the decade in India,» he noted.

Biogas Association (IBA) expects around Rs 1,500 crore investment announcement in the biogas segment during 3-day long Renewable Energy India Expo 2023, beginning on Tuesday. The IBA comprises operators, manufacturers, and planners of biogas plants. «Renewable Energy India Expo 2023 (REI) will bring an opportunity worth Rs 1,500 crore.

Read more During the meeting, Jaishankar and Blinken affirmed hope for positive outcomes from the bilateral talks. Antony Blinken said that the two leaders have had very good discussions lately and is looking forward for the talks. Also read The Bombay High Court granted permission for the leave petition filed by Rakesh Jhunjhunwala-owned Akasa Air to proceed against the five pilots who departed from the company without fulfilling their notice period obligations.

investment projects worth Rs 3,663 crore. These projects, approved during a meeting of the State Level Single Window Clearance Authority (SLSWCA) held under the chairmanship of Chief Secretary Pradeep Kumar Jena, are expected to generate employment for over 13,500 people, an official statement said.