Manufacturing Financial News

BEIJING — Winking, grimacing or nodding their heads, robots mimicked the expressions of visitors at a robot expo in Beijing.

Stocks that are trading heavily or have substantial price changes Friday: Ross Stores, Bloomin' Brands rise; Farfetch, Keysight Technologies fall

By Nichola Groom

ALSO READ: Apple' Foxconn commences production of iPhone 15 in Tamil Nadu, strengthening operations in India: Report Several reports said that a Foxconn Technology Group plant in Sriperumbudur is all set to deliver the newest devices only weeks after they start shipping from factories in China. According to a Bloomberg report, the firm started production to narrow the gap between the operations in India and the manufacturing base in China.

₹870 crore to cover the lenders/banking facilities to its two UK-based subsidiaries- Optare Plc. UK and Switch Mobility Limited, UK. Ashok Leyland cleared that the promoters, promoter group, or group companies have no interest in this transaction which is conducted only for the purpose of covering the lenders/banking facilities.

Foxconn Technology Group, opened an office in Tamil Nadu on Friday, as per a LinkedIn post by V Lee, the Foxconn representative in India. As per its website, Jusda is the only authorised supply chain management company of Foxconn Technology Group.

Lanzador concept, Lamborghini showcased the Revuelto, a V12 plug-in hybrid model designed as a successor to the iconic Aventador. The Lanzador concept offers a tantalizing glimpse into the upcoming series model slated for production in 2028. Lamborghini proudly reveals that it dedicated a span of two years to unveil a high-performance, electrified vehicle that stays faithful to the core essence of the brand.

renewable energy has rolled out standards for green hydrogen production in the country. In a notification, the ministry defined green hydrogen as hydrogen derived from renewable energy sources, either via electrolysis or biomass conversion.

Vande Bharat Express trains will have eight coaches and comfortable reclining seats. Besides, the new trains are expected to have extended footrests for Executive Chair car class coaches, better access to mobile charging points, and improvements in the basin to prevent water splashes. In addition to this, passengers will also be able to experience better toilet lighting, touch-sensitive reading lamps, and advanced roller blind fabric.

India and the government will continue its capex push, finance secretary TV Somanathan said. On the fiscal deficit, he said the government will not exceed the budget estimate of 5.9% of GDP. «So far as China is concerned, the very fact that we have a huge trade deficit with China means that China's slowdown has very little negative effect on the Indian economy,» Somanathan told ET in an interview.

Apple, Intel, Google, Lenovo, Dell Technologies, HP, and others have called on the US government to «use every available forum» to push India to reconsider implementing the import restriction policy on IT hardware and launch a formal stakeholder consultation to solicit recommendations from the industry. The Directorate General of Foreign Trade (DGFT) has placed electronics items such as laptops, tablets, all-in-one-personal computers, small form factor computers and servers under the restricted imports category, thereby requiring companies to seek an additional licence to bring these goods into the country.

By Valerie Insinna and Tim Hepher

industrial activity may have recovered from pre-pandemic levels, but experts indicate that a broad-based recovery remains elusive. An ET analysis found that 12 of the 22 manufacturing firms captured in the index of industrial production were still operating at lower levels than during the pre-pandemic period. “It is becoming progressively clear that notwithstanding some high volatile growth numbers, it is not broad-based. Deficiency in spending is manifest here,” said Madan Sabnavis, chief economist, Bank of Baroda. While the overall industrial activity was up 9.6% in Q1 FY24 compared with Q1FY20, computer electronic and optical products was down 33.1%, whereas wearing apparel was down 34.5% during this period. “The weakness in electronic good productions is despite the fact that India’s electronic goods exports has shown strong growth of 47% YoY in Q1FY24 and 51% in FY23. On the import front, electronic goods has seen a more moderate growth at 4.9% YoY in FY23 and 6.3% growth in Q1FY24. As a result, net electronic goods imports has reduced in Q1FY24,” said Gaura Sengupta, India Economist, IDFC First Bank. Economists note that government capex also has much to do with diverse performance. “While infrastructure and construction-linked sectors have been outperforming, the consumer-linked segments still need to catch up,” said Upasna Bhardwaj, chief economist, Kotak Mahindra Bank.

PD Vaghela, chairman of Telecom Regulatory Authority of India (Trai), said a joint committee of regulators comprising the Reserve Bank of India, the Securities and Exchange Board of India, and the ministries of home and consumer affairs is also trying to combat phishing and digital fraud. “We are working with the ministries of education, health, MSME and agriculture for development of 5G use cases…,” Vaghela said at the fourth edition of the ETTelecom Digital Telco Summit, 2023 on Friday. “The ministries will bring specific domain knowledge while we will enable coordination between telecom companies, sector experts and resolve regulatory issues.” He said the Trai Center for Studies & Research is exploring collaborative efforts with academic and research institutions to drive development of India-specific use cases and will start working with the respective verticals from September. To complement these efforts, the Department of Telecommunications (DoT), too, is working with several central ministries to use 5G for driving tech convergence across industry sectors.

semiconductor manufacturing hub, companies in the sector are looking to close the gender gap as they bet their chips on innovation-focused talent to make the most of the opportunity. A host of companies including AMD, Applied Materials, Analog Devices, and Synaptics are making concerted efforts to build a pipeline of female talent through targeted recruitment drives, mentoring, employee resource groups, pay adjustments, and leadership development, industry executives said. According to the 2022 Semiconductor Gender Parity Study from Global Semiconductor Alliance and Accenture, there is an urgent need for innovation-focused talent in the industry, and women represent a significant opportunity to provide that talent.

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India's services sector exports has the capacity to expand «dramatically», contributing in a big way to the Centre's USD 2-trillion target for shipments by 2030, former Union minister Suresh Prabhu said here on Friday. Prabhu, a former commerce and industry minister, said the nature, spectrum and volume of services exports will change significantly, given the element of human interaction and new technology involved in it.

Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday. Kacholia sold 1,80,489 shares of the company, or 0.6% stake, at Rs 640.01 apiece, bulk deals data on the National Stock Exchange showed. He sold the shares at a premium of around 1% to Thursday’s closing price of the stock.

The US dollar index is currently forming a new peak within its 2023 trend. This trend has seen lower peaks in March, May, and most recently in July.

Mahindra Ltd on Friday announced that they will be undertaking a proactive inspection of over 1 lakh XUV700 units due to the risk of abrasion cut of wiring loom, said the company through its exchange filing. The company in its statement said that they will be inspecting wiring loom routing in the engine bay of 1,08,306 units of XUV700 manufactured between June 8, 2021 to June 28, 2023 due to a potential risk of abrasion cut of wiring loom.

A bright-red 1962 Ferrari 250 GTO with an asking price above $60 million will go to auction this fall in a classic-car market that has continued to accelerate its prices even as other collectibles categories have slowed down. The race car, whose sale will take place in New York during Sotheby’s major fall sales series, is a particularly rare model—one of only 34 produced by Ferrari. It is also one of two GTO models ever raced by Ferrari’s own team, Scuderia Ferrari, before being sold, according to Gord Duff, global head of auctions for Sotheby’s car-auction arm, RM Sotheby’s.