Manufacturing Financial News

Ashwini Vaishnaw said that Madhya Pradesh's Neemuch would soon get a Vande Bharat Express. Addressing the public at Neemuch on Monday, the Railway Minister said, «It is time for Vande Bharat to run on this route. Your Member of Parliament (MP) Sudhir Gupta has already requested for the same.

Growth in India's dominant services industry lost some steam in August but overall conditions remained strong despite elevated inflationary pressures, according to a business survey that showed exports were at a record high on robust foreign demand. Tuesday's findings, coupled with a sister survey on Friday which found factory growth expanded at its fastest pace in three months, suggest Asia's third-largest economy will be the fastest-growing major country despite slowing global growth. The S&P Global India services Purchasing Managers' Index fell to 60.1 in August from 62.3 in July, lower than the Reuters poll expectation of 61.0. Still, the reading was above the 50-mark separating growth from contraction for a 25th consecutive month — the longest stretch since August 2011. «This spike in international demand supported one of the best sales performances recorded over the past 13 years, and acted as a catalyst for firms to expand their workforces as well as output,» noted Pollyanna De Lima, economics associate director at S&P Global. «Demand strength also fostered a heightened sense of optimism regarding the outlook, boding well for economic growth prospects.» A sub-index monitoring overall demand slowed slightly in August compared to the previous month.

Orora will pay $2.16 billion to acquire French glass bottles maker Saverglass from US private equity giant The Carlyle Group as it tilts its business further towards the premium spirits and wine segment.

CSR signed up for gas from Senex Energy’s stalled $1 billion Atlas project in Queensland, underlining the depth of demand for fuel from a venture that still hinges on an extended exemption from the gas cap rules and federal environmental approval.

Japan's service sector activity expanded at its quickest pace in three months in August, underpinned by robust consumer spending as inbound tourism regained momentum, a private-sector survey showed on Tuesday. The relatively upbeat service sector conditions contrast with the manufacturing industry's shrinking activity and subdued business sentiment amid slowing global demand. The final au Jibun Bank Japan Services purchasing managers' index (PMI) grew to 54.3 last month from 53.8 in July, in line with the flash reading and stayed above the 50-benchmark dividing expansion from contraction for 12 consecutive months. «A stronger improvement in new orders received by Japanese service firms underpinned an acceleration in business activity growth,» said Usamah Bhatti, an economist at S&P Global Market Intelligence. «That said, service providers signalled a steeper increase in inflationary pressures during August,» he said, underlining some of the challenges faced by the broad business sector across the country. The subindex measuring outstanding businesses swung back above the 50.0 threshold in August helped by the re-acceleration of new orders. Survey respondents noted stronger consumption thanks to higher customer numbers and demand on the back of a surge in inbound tourists.

China increasingly isolated and the US and its allies seeking a developing-market champion, India is having a moment. But is it ready? The tailwinds are there. The $3.4 trillion economy is among the fastest growing globally, and India’s population became the largest in the world earlier this year. Prime Minister Narendra Modi’s government has sought to compensate for low private investment by plowing billions into new infrastructure and using a mix of tariffs and incentives to lure global manufacturers, especially those seeking to diversify away from China. India will contribute just over 15% to global growth this year, according to the International Monetary Fund, right behind China’s 35% and more than the entire Western hemisphere’s 14%.

Electric scooter maker Ather Energy is set to raise Rs 550 crore from motorcycle manufacturer Hero MotoCorp, the latter said in a disclosure to the National Stock Exchange on Monday. The board of Hero MotoCorp passed a resolution to invest Rs 550 crore via Series E2 compulsory convertible preference shares. The motorcycle giant already owns a 34.2% stake in Ather and is its largest shareholder, according to data from Tracxn. In January last year, Hero partially led a dollar 128 million fundraise into Ather. The firm was last valued at dollar 739 million during a dollar 50 million fundraise in October last year, per Tracxn.

(Reuters) — Huawei Technologies and China's top chipmaker SMIC have built an advanced 7-nanometer processor to power its latest smartphone, according to a teardown report by analysis firm TechInsights.

By Jan Schwartz

small and medium enterprises. Simultaneously, the share of farmers went up from 23.2% to 27.6%, indicating reverse migration from urban to rural India. This trend also reveals the darker side of our growth story, as it does show that job creation has lagged in urban regions and not kept pace with economic growth.

demonetization, contracted by 7% as a result of a poorly executed pandemic lockdown, making it one of the world’s worst-performing economies. As a result, from 2020 to 2023, India’s average annual growth turned out to be less than 4%, which is not bad for a phase of global economic turmoil, but far less impressive than recent figures suggests, let alone slogans and headlines. Furthermore, the benefits of this growth are going almost entirely to the rich.

Hero MotoCorp, the motorcycle manufacturer said in a disclosure to the National Stock Exchange on Monday. The board of Hero MotoCorp passed a resolution to invest Rs 550 crore via Series E2 compulsory convertible preference shares.

NEW DELHI : The health ministry may introduce mandatory bar coding for 11 habit-forming drugs, including some cough syrups, painkillers and sleeping tablets, to stop their misuse and an illicit trade in them. The list also includes the formulations used to make these drugs. These 11 medicines are: codeine- based cough syrups, fentanyl and its analogues, buprenorphine injections, tramadol, alprazolam, nitrazepam, diazepam, lorazepam, clonazepam, zolpidem and ketamine -- that are commonly used as sleeping pills, for pain relief and to control anxiety.

Shree Cement Ltd was inaugurated by Chief Minister Mamata Banerjee in West Bengal's Purulia district on Monday. This is the first such unit of the company in the state, and has a capacity of 3 million metric tonne per annum (MTPA).

Ecuador's location is increasingly putting it at the confluence of two global trades: bananas and cocaine

Aspiring Taiwanese independent presidential candidate Terry Gou has resigned from the board of Foxconn, the Apple supplier he founded nearly a half-century ago

When Congress returns this week, Homeland Security officials and those in the chemical industries will be watching to see if a program regulating the chemical sector will be on its agenda

TOMY International Inc. has initiated a recall for its 'Boon Flair & Flair Elite highchairs due to safety concerns. These highchairs feared to have a detachment issue, were distributed throughout the United States and Canada. The voluntary recall was announced on August 31, 2023, in collaboration with the United States Consumer Product Safety Commission (CPSC), Health Canada, and TOMY International Inc.

Also Read: Mono Pharmacare IPO allotment finalised: GMP, here's how to check allotment status CPS Shapers listing date has been fixed for Friday, September 8 on NSE SME. If you applied for the shares, here's how you can check allotment status of CPS Shapers IPO. If you have applied for the CPS Shapers IPO, you can check your CPS Shapers IPO allotment status immediately on the website of the IPO registrar, Bigshare Services Pvt Ltd.

Marine equipment and spare parts supplier Maritronics India on Monday announced its foray into specialised equipment manufacturing for the defence sector.

all-time high of Rs 315 lakh crore on Monday, helped by strong investor sentiments amid encouraging domestic macroeconomic data and a firm trend in global stocks. The BSE benchmark Sensex climbed 240.98 points, or 0.37 per cent, to settle at 65,628.14.