Manufacturing Financial News

Germany racked up one economic success after another for most of this century

Maharashtra government has restricted sugarcane farmers from selling their produce outside the state in a bid to ensure that there is enough cane for the state’s mills to run at maximum capacity. Erratic rainfall this year has led to a drought-like situation in Maharashtra, the country’s second-largest sugar producer, and it is likely to see a big drop in sugarcane yield. Lower availability of cane leads to competition among sugar factories for the crop, resulting in mills poaching cane in each other's jurisdiction. Farmers prefer to sell their sugarcane to the mills that pay higher prices. The Maharashtra State Cooperative Sugar Factories Federation, also known as the Sakhar Sangh, the apex body representing the co-operative sugar mills from the state had written to the state government about the need to take measures to ensure availability of sugarcane for the state’s sugar mills. «The co-operative sugar mills from the state are likely to face an acute shortage of sugarcane, which can reduce the number of days for which they can operate,» said the Sakhar Sangh in a letter to the government.

By Sarah Wu

Apple captured the world's attention with its «Mother Earth» ad. Apple's CEO, Tim Cook, played a pivotal role in the ad, which quickly went viral.

Care A2 Plus, the local infant formula producer targeting a $500 million ASX float, has asked the Federal Court to reverse a decision that has led its distribution partner in the United States to sue its founder, chief executive and chairman in a Miami court.

Narendra Modi on Tuesday said that there is no time for focusing on smaller issues and the nation must move to bigger canvas now to reach its rightful place. He was addressing a gathering of MPs at the historic Central Hall of the old Parliament building during a function to commemorate the rich legacy of the Parliament of India. "In the 25 years of Amrit Kaal, India will have to work on a larger canvas. The time for us to get caught up in smaller issues is over," said the Prime Minister. «First of all, we will have to meet the goal of becoming Atmanirbhar Bharat.

Shibani Sircar Kurian, senior EVP and the head of equity research at Kotak Mahindra Asset Management Company (AMC) pointed out that mid-cap and small-cap valuations are above their long-term averages. On a relative basis to large-caps, mid and small-cap valuations are at significantly higher levels as compared to long-term averages. In an interview with Mint, she talked about market fundamentals and macroeconomic scenarios. India’s outperformance, we believe, has been on the back of the trinity of (a) macro-economic stability, (b) strong corporate earnings, and (c) inflows (both domestic and FII).

solar panels in India, what would you say? If your answer is China, you would have been right… last year. In the first half of 2022, India imported 9.8 GW of solar modules from China. But in the first half of this year, that number has crashed to 2.3 GW, a 76% reduction.

India’s semiconductor ambitions got a shot in the ... moreIndia’s semiconductor ambitions got a shot in the arm on Sunday.

Clorox Company, renowned for its popular household brands like sanitizing wipes, PineSol, FreshStep cat litter, and Hidden Valley Ranch, has found itself at the center of a cybersecurity crisis. An August cyberattack on the company has led to «wide-scale disruptions» in its operations, raising concerns about potential product delays and shortages. In this article, we will delve into the details of this cyber incident and its potential implications.

Explosives giant Orica has ramped up its targets for direct emissions reduction and has introduced an “ambition” to cut scope 3 emissions, bucking the broader trend for some energy-intensive companies to dial back on near-term climate commitments.

By David Shepardson and Tim Reid

By Zeba Siddiqui

High food inflation had dented demand in several categories as household budgets were disrupted. Leading biscuit manufacturer Parle Products notched up 20% sales volume growth in the last few months, after offering a 7-10% price reduction via cuts or promotions.Emami said categories such as healthcare and pain management saw 3-4% volume growth in the last two months after promotional offers. Adani Wilmar edible oil volumes surged 25% last quarter as prices plunged 40-45% over the past year.Effect on electronics Krishnarao Buddha, senior category head at Parle Products, said there is a strong and disproportionate correlation linking price cuts, demand and volume growth. The price cut-volume growth effect is also visible in some electronic products.

(Reuters) — Chinese electric vehicle frontrunner BYD (SZ:002594) has taken an early lead in Southeast Asia's small but fast-growing EV market, partly on the back of distribution partnerships with large, local conglomerates.

The S&P 500 (SPX) lost 0.2% last week following a sentiment reversal on Friday, when the index dropped 1.2%. This way, the S&P 500 fell below the short-term supporting trend line, which could invite more pressure in the near term.

New Delhi: Continental Device India Pvt. Ltd (CDIL), India’s oldest semiconductor company that moved away from manufacturing 15 years ago, may set up its own fab in India in the long term, a top executive said, provided an enabling ecosystem comes up in the country. In the meantime, it is focusing on its local ATMP (assembly, testing, marking and packaging) business, expanding its 500 million unit capacity by 100 million units more.

Infosys Ltd’s recent $1.6 billion deal with Liberty Global Plc includes licensing the European telecom company’s connectivity platform Horizon to other telecom firms. Similarly, hardware equipment maker Lexmark plans to commercialise its internet of things (IoT) platform Optra through Tata Consultancy Services Ltd (TCS), which will then offer it to manufacturing and retail clients of Tata Group companies worldwide.

wage hike. This is the first time UAW has launched a simultaneous strike against all three automakers, according to the Financial Times. The strikes led to factory shutdowns in Michigan, Ohio, and Missouri.

telecom components to discourage imports and build a robust domestic supply chain as it aims to transform the country into a fully integrated global telecom gear manufacturing hub. The Department of Telecommunications (DoT) is examining a proposal to impose an initial 10% import duty from January and raise it further to 15% by October next year on packaging items, antennae, WiFi switches, plastic/metal housing items, wires/cables, USB ports/connectors, power adaptors and other electrical/mechanical items, among telecom components, said officials aware of the matter. The import duties on these parts and timelines for their implementation are being considered under the government's Phased Manufacturing Programme (PMP) to drive local production and enhance value addition, the officials said. The PMP aims to lend more depth to India's telecom gear manufacturing ambitions by initially incentivising local production of low value accessories and eventually high value components.

Saudi Arabia is in talks with Tesla about setting up a manufacturing facility there, people familiar with the discussions said, as part of an ambitious push by the kingdom to secure metals needed for electric vehicles and help diversify its economy away from oil. The talks are at a very early stage and could fall apart.