Manufacturing Financial News

(Reuters) -Electric vehicle maker BYD Co (SZ:002594) Ltd said on Monday its unit struck a deal with U.S.-based manufacturing firm Jabil Inc's Singaporean division to buy its mobility business in China for 15.8 billion yuan ($2.17 billion).

Investing.com-- Oil prices rose slightly in early Asian trade on Monday as focus turned to economic readings from the world’s largest oil importer due this week, with U.S. oil futures within sight of the key $80 a barrel level. 

Brookfield is looking to grow its $25-billion asset portfolio in the country further, said former central banker Mark Carney, also the UN Special Envoy for climate action and finance. The chair of Brookfield Asset Management and head of transition investing at the firm told Deepshikha Sikarwar & Vinay Pandey in an interview that India has a big opportunity amid global supply chain disruptions. Edited excerpts:The US Federal Reserve chairman has made it clear the central bank is not done with containing inflation. What is your reading of Jerome Powell's statement?My reading of what he emphasised is that the Fed's policy is going to continue to be restrictive for some time.

By Jamie McGeever

Australia’s investment banking scene is about to get a sugar hit.

Embraer SA, the world’s third largest manufacturer of commercial jets, is betting big on India as a key growth market and potential manufacturing hub. In an interview with ET’s Arindam Majumder, chief executive Francisco Gomes Neto, explains the Brazilian aerospace company’s growth plans which include finding a local joint venture partner to set up a manufacturing unit in India. Edited excerpts:India now has one of the largest aircraft order books in the world. But it has been a challenge to find customers here for Embraer. What are the sticking points? There are ongoing dialogues and conversations that are happening with Indian airlines.

Half of the world’s biggest lithium mines put on the market since 2018 were bought by Chinese companies, underscoring the tightening grip of the world’s second-largest economy over the global battery metal supply chain.

NEW DELHI : The transformation under way in India is a key source of optimism for Mark Carney, the chair of Brookfield Asset Management, and the head of transition investing and UN special envoy for climate action and finance. In an interview, Carney, who was the governor of Central Bank of Canada (2008-13) and Bank of England (2013-2020) before joining the asset manager, said it was impressive that some of India’s largest conglomerates are pushing ahead in the clean-energy space. Last year, Brookfield closed a $15 billion global fund to invest in clean energy; of this, the asset manager invested $1.5 billion in India.

₹1.97 trillion production-linked incentive (PLI) scheme. On the face of it, the PLI scheme has nothing to do with tweaking tariffs. It is focused on incentivizing companies to increase domestic production across 14 sectors, rather than manufacture products outside India.

GST regime, having recently celebrated its sixth anniversary, stands as a remarkable achievement in the Indian tax landscape. Over this time, it has made substantial contributions to GoI’s financial coffers. To provide a snapshot, the gross collection for FY2023 reached an impressive Rs 18.10 lakh crore, with an average monthly collection of Rs 1.51 lakh crore for the year.

Newcastle United, the club is poised to usher in a new era of grandeur by bidding farewell to sportswear manufacturer Castore and welcoming back the renowned leisurewear behemoth, Adidas. This monumental five-year partnership, rumored to be valued at an astounding sum of hundreds of millions of pounds, promises to reshape the Magpies' identity on and off the field.

NEW DELHI : A new model of colonialism may arise if countries with large reserves of critical and rare earth minerals do not consider these resources as a global responsibility, Prime minister Narendra Modi on Sunday said, sounding what he called a “serious warning". Addressing the B20 Summit of business representatives from G20 countries, Modi said while critical and rare earth minerals are the need of the entire world, they are unevenly distributed globally—some countries have large quantities of these minerals while others do not have them at all.

NEW DELHI : India may no longer stick to the template for bilateral investment treaties (BIT) that it adopted after terminating most of these treaties in 2016, a senior official aware of the development said. The change in the approach comes at a time when India is negotiating investment treaties alongside free trade agreements with some top trading partners, including the UK and EU, that are looking for stronger investment protection while objecting to the 2016 model BIT.

By Shivangi Acharya

Samsung Galaxy S24 Plus. Upon close examination of these performance metrics, it becomes evident that the Samsung Galaxy S24 Plus may feature a unique, custom-designed processor, as per the report. Both the Nubia RedMagic 9 and the Samsung Galaxy S24 Plus are anticipated to operate using the yet-to-be-officially-announced Qualcomm Snapdragon 8 Gen 3 chip.

human intelligence nor the humane element in the adjudicatory process, the Delhi High Court has held and said ChatGPT can't be the basis of adjudication of legal or factual issues in a court of law. Justice Prathiba M Singh stated that the accuracy and reliability of AI generated data is still in the grey area and at best, such a tool can be utilised for a preliminary understanding or for preliminary research. The court's observations came while dealing with a lawsuit by luxury brand Christian Louboutin against a partnership firm involved in the manufacture and sale of shoes allegedly in violation of its trademark. The counsel for the plaintiff submitted that «Red Sole Shoe» was its registered trademark in India and placed before court responses by ChatGPT with respect to its «reputation». «The said tool (ChatGPT) cannot be the basis of adjudication of legal or factual issues in a court of law.

US jobs data. This week, COMEX Gold prices saw an uptick, marking their first weekly gain in four weeks, even amid a significant surge in the US dollar. Previously, spot gold prices had dipped below the critical $1,900 per troy ounce threshold due to various factors, including US retail sales data and somewhat hawkish Federal Open Market Committee (FOMC) meeting minutes.

New Delhi: India’s external affairs minister S Jaishankar on Sunday emphasised on the need for “re-globalisation", as the world recovers from shocks caused by the coronavirus pandemic and conflicts. Speaking at the B20 Forum on Sunday, Jaishankar said that this new globalisation will rely on distributed production centres and resilient supply chains. India’s top diplomat stated that the earlier iteration of globalisation, which took place over the last four decades, concentrated economic power and production in certain countries.

renewable energy, energy storage, telecommunications, defence and healthcare. In June this year, India became a member of the coveted critical minerals club - the Mineral Security Partnership. The announcement was part of a joint statement by prime minister Modi and president Joe Biden during the former's recent US visit.

firecracker factory in West Bengal's North 24 Parganas district on Sunday morning, police said. The explosion happened when several people were working at the factory in Nilgunj's Moshpole in Duttapukur police station area, around 30 km north of Kolkata, they said. Among those injured were many women and children, they added. The impact of the blast was such that not only did the house where the factory was operating turn into a heap of rubble, but some neighbouring concrete houses were also damaged. Police said they suspect that several people are still stuck under the rubble. Rescue and relief work are underway in the area, and firefighters are working to douse the blaze that broke out as a result of the explosion, they said. A huge contingent of police and personnel of the disaster management department are also at the spot, they added. Twelve people were killed in a similar explosion at an illegal firecracker factory in Purba Medinipur district's Egra in May. Leader of Opposition Suvendu Adhikari of the BJP alleged that the state has turned into the storehouse of powder kegs. «There is no monitoring of illegal activities by the police.

gold closed with a gain of nearly 1.40% at $1914.60 meanwhile the total known global gold ETF holdings fell by around 0.15 million troy ounces in the week as outflows accelerated. But the highlight of the week was much-awaited Federal Reserve Chair Powell's speech at the Jackson Hole symposium on Friday. Powell didn't offer any clear clues about the possibility of a pause in the Federal Reserve's rate hike campaign as he continues to deem inflation to be quite high.