Manufacturing Financial News

Scopely has agreed to buy Niantic's gaming business, including the mobile hit Pokemon Go, for $3.5 billion. Scopely, which is owned by a unit of the Public Investment Fund of Saudi Arabia, will also acquire Pikmin Bloom and Monster Hunter Now from Niantic, along with the teams working on them, the Saudi company said in a statement on Wednesday, confirming an earlier Bloomberg News report. Niantic's games encourage players to go outside and explore their neighbourhoods to receive in-game rewards.

The decision followed a warning by Trump that Canada would pay a «historic financial price» for its move, Daily Mail reported. The controversy started at the beginning of the week when Ontario premier Doug Ford introduced the electricity tariff as a response to US tariffs, according to the report. Ford had imposed a 25% tariff on Canadian electricity to Michigan, New York and Minnesota, as per Daily Mail. After Ford suspended the tariffs on the US, Trump agreed not to double tariffs on Canadian steel and aluminium to 50% and claimed it would remain at 25%, according to the report.

trade balance and revive domestic manufacturing. This provides trading partners with a sense of Trump's threshold for domestic economic pain. Internally, too, business and consumer reaction to inflation are setting limits on Trump's agenda. Within the administration, there is resistance to Elon Musk's shock'n'awe-meets-slash 'n'burn spending cuts that have made Trump see reason on how far such 'economisation' can be pushed.

Mitsubishi Chemical Group of Japan has evinced interest in entering the supply chain link in the semiconductor and electric vehicles sectors in India. There are plans to set up a project catering to the supply chain link in the semiconductor and EV sectors in the country, president and CEO of Mitsubishi Chemical Group Manabu Chikumoto, said at an interactive session of Bengal Chamber of Commerce and Industry here on Wednesday. «We are trying to find out some occasions to come to this market to expand our existence, together with some partners. It will be in the supply chain link to the semiconductor and EV sectors», he said. Chikumoto said the group has not identified any place for the proposed project.

Subscribe to enjoy similar stories. New Delhi: The government may make it mandatory for packages containing narcotics to carry a barcode while it mulls building a portal to identify, track and monitor the illegal sale of narcotics. In view to recent cases of abuse of narcotics meant for medicinal use, the government is devising a mechanism to ensure the tracking and traceability of these drugs.

Indian Air Force. The radar has been indigenously designed and developed by Electronics and Radar Development Establishment of the Defence Research and Development Organisation (DRDO). It is capable of tracking aerial targets from high-speed fighter aircraft to slow moving targets such as unmanned aerial vehicles and helicopters. The defence ministry said acquisition of the radar will significantly enhance the operational preparedness of the Indian Air Force. «As part of the government's efforts to strengthen indigenous defence capabilities, the Ministry of Defence has inked a capital acquisition contract with BEL for the procurement of Low-level Transportable Radar, LLTR (Ashwini) at a cost of Rs 2,906 crore,» an official readout said. The contract was signed in presence of Defence Secretary Rajesh Kumar Singh.

The retail portion of the issue was subscribed by 84%, while the issue was subscribed by 6% in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had not made any bids yet.

Specialty chemicals manufacturing startup Scimplify has raised $40 million in a Series B funding round co-led by Accel and existing investor Bertelsmann India Investments. The round also witnessed participation from UMI, 3one4 Capital and Omnivore. This brings the company’s total funding to around $54 million. The fresh capital will drive the Bengaluru-based company’s global expansion, enabling it to scale exports beyond the 16 countries it currently serves while strengthening its presence in life sciences, crop sciences, and industrial chemicals.

Subscribe to enjoy similar stories. ASK Investment Managers, one of India’s largest portfolio management services (PMS) funds, has focused on high-quality, high-growth, Indian entrepreneur-owned companies that prioritise earnings growth, capital efficiency and strong management, Sunil Rohokale, co-founder, CEO & managing director of ASK Asset & Wealth Management Group told Mint. ASK’s flagship Indian Entrepreneur Portfolio, with ₹11,908.74 crore in assets under management (AUM), has delivered 5.78% returns over the past year and a compound annual growth rate (CAGR) of 13.84% over the past five.

Ola Electric chief executive Bhavish Aggarwal said on Wednesday that the company expects to be Ebitda (earnings before interest, taxes, depreciation, and amortisation) positive in the next quarter. «Our @OlaElectric EV business will be EBITDA positive next quarter. When we started many thought EVs will never be profitable. Kudos to the Ola Electric team for working hard to make this happen more than a year ahead of analyst estimates,» he said in a post on X. In addition to the automotive business, the company also operates in the battery cell manufacturing space.

Subscribe to enjoy similar stories. Penny stocks are shares of listed companies with a lower market capitalization. These stocks usually have low share prices, typically under ₹100 and often below ₹50.

Subscribe to enjoy similar stories. WASHINGTON—President Trump’s stop-and-start trade policy and uneven economic messaging have rattled some of his own allies, triggering a flood of calls from business executives, concerns from Republican lawmakers and tension in the White House.

inflation is expected to decline to 2 per cent in February 2025 from 2.3 per cent in January, primarily due to a drop in oil prices and a seasonal decline in food prices, according to a report by Union Bank of India. The report highlighted that the moderation in WPI inflation is largely driven by a fall in vegetable prices, which is a key component of food inflation. It said «Wholesale Price Index (WPI) is expected to moderate to 2.0 per cent (y/y) in Feb'25, low from 2.3 per cent in previous month, due to cooling in oil prices and seasonal drop in food prices». Within food, vegetable prices are estimated to have dropped by 12 per cent month-on-month. However, edible oil prices saw a slight increase during the month. Additionally, manufactured food prices remained stable as the prices of key inputs like sugar and edible oil showed only a mild rise. The report also added that the fuel index, which tracks price changes in petroleum products, is expected to remain in the negative zone in February. This decline follows a slight increase in the past two months.

Subscribe to enjoy similar stories. The outlook for the U.S. economy this year isn’t so rosy anymore.

Subscribe to enjoy similar stories. Public discontent with inflation and high prices more than anything else weakened support for Kamala Harris and opened the door to Donald Trump’s return. Throughout the campaign, Mr.

vaccine superpower with Covaxin's development and now produces 60 per cent of the world's vaccines, said Prof Balram Bhargava, former Director General of the Indian Council of Medical Research (ICMR), the agency that led the country's Covid-19 response. The Padma Shri awardee delivered a keynote address at BRIC-Rajiv Gandhi Centre for Biotechnology (RGCB) on Tuesday on the theme 'Accelerate Action' as part of RGCB's Women's Day celebration. «Sixty per cent of the world's vaccines are now manufactured in Pune and supplied globally. In 2021, we exported vaccines to more than 100 countries, underscoring our potential in vaccine research and development,» Bhargava said in an RGCB press release. Vaccine development-from funding to preclinical studies, clinical trials, laboratory research, and physiological studies-has been implemented seamlessly with government support. A National Task Force comprising 40 scientists from various research domains was formed to act swiftly in times of crisis, he noted.

Zydus Lifesciences said on Tuesday it will acquire an 85.6% stake in France's Amplitude Surgical for 256.8 million euros (nearly $280 million) as part of its plans to expand further in the global medical devices market. The acquisition, which is a nearly 81% premium to Amplitude's last close, comes as India's pharmaceutical industry is bracing itself for U.S. President Donald Trump's plans to tax pharmaceutical imports. The United States is Zydus Lifesciences's biggest market, accounting for 47% of total revenue, followed by India.

Subscribe to enjoy similar stories. Tata Power, one of India's oldest and most influential energy conglomerates, is rewriting its legacy. No longer just a conventional power provider, the company has emerged as a leading force in India's clean energy transition.

Syngene International will be in focus on Tuesday after the company announced that it acquired its first biologics facility in the United States from Emergent Manufacturing Operations Baltimore, a unit of Emergent BioSolutions, for $36.5 million. “The new site will increase Syngene’s single-use bioreactor capacity to 50,000L for large molecule discovery, development, and manufacturing services. Additionally, it will provide Syngene’s customers with continuity of supply from its four development and manufacturing facilities located in India and North America, offering services ranging from cell line development, process optimization, and both clinical and commercial supply,” the company said in its press release.

Subscribe to enjoy similar stories. Electrical equipment maker Schneider Electric is working on the next phase of investments in India and would soon roll out its capital expenditure (capex) plans, a top company official said. In an interview, Deepak Sharma, managing director and chief executive of Schneider Electric India, said that the company is working on manufacturing large-scale stationary batteries in the country in view of the growing demand for storage, and is exploring the right chemistry and technology for the business.