Manufacturing Financial News

Investing.com — The oil rally is beginning to feel heavy.

AI adoption and industrial products and the manufacturing sector seeing maximum adoption rates following the Covid-19 pandemic, a report said. According to a PwC report titled 'Towards a smarter tomorrow: Impact of AI in the post-COVID era' the industrial products and manufacturing sector has seen the maximum adoption of AI/ML (Artificial Intelligence/ Machine Learning) over the last two years.

NEW DELHI : Indian goods exports remained under pressure in July as demand from key markets such as the US, Europe and China remained subdued amid high inflation driven by persistent geopolitical tensions. While services exports continued to report healthy growth, merchandise or goods exports declined to their lowest in nine months, falling 16% to $32.25 billion in July from $38.34 billion in the year earlier, data released by the commerce and industry ministry on Monday showed. Imports during the month also declined by 17% to $52.92 billion from $63.77 billion in the year-ago period, narrowing the trade deficit to $20.67 billion.

NEW DELHI : The steel ministry plans to write to all major steel companies with export interests to assess their preparedness for reducing their carbon footprint and for facing the green challenges emerging in global markets. The development comes at a time when India is exploring tariff and non-tariff measures to counter EU’s Carbon Border Adjustment Mechanism (CBAM) that proposes to tax ‘embedded carbon’ in imports of steel, aluminium, cement, hydrogen, electricity and fertilizers from 1 January 2026.

Mint’s Mutual Funds Conclave 2023, held recently. The panel on ‘AA and AI—What’s the next wave of innovation in Mutual Funds’ comprised Varun Sridhar, CEO, Paytm Money; Chetan Mehra, head - quantitative investment, PMS & alternative investments, Bandhan AMC Ltd; and Vetri Subramaniam, chief investment officer, UTI AMC. Edited excerpts from the panel discussion: What, according to you, will be the next big innovation in the MF industry? Chetan: I see passive investing and a lot more quantitative investing coming through big time.

drones to individual protective equipment, sources said. Sources in the military establishment also said the present global scenario «necessitates a flexible and adaptive approach» to tackle defence and national security challenges. Sixty-eight schemes worth Rs 6,600 crore were signed in the first three tranches of emergency procurements (EPs). «As part of the fourth tranche, 49 schemes worth Rs 7,600 crore have been contracted catering for capabilities ranging from mobility solutions to communication systems, energy solutions, individual protective equipment, armament and simulators, drones and counter-drones,» a source in the defence establishment said. The army is observing 2023 as the 'Year of Transformation', and is working on several projects to reshape and remodel the functional processes to bring in a «quantum jump in its capabilities». It is spearheading the realisation of the vision of 'Atmanirbharta' with the intent of boosting manufacturing in India and creating a vibrant defence ecosystem, the sources said.

Investing.com — Kraft Heinz (NASDAQ:KHC) has named Carlos Abrams-Rivera as its new chief executive officer, the packaged food maker said in a statement on Monday.

₹42 per equity share and the Shelter Pharma IPO shares will get listed on Wednesday, 23 August on BSE SME. Shelter Pharma is a small- and medium-sized enterprise (SME) IPO is a Gujarat-based company and is engaged in the business of manufacturing herbal products in Human Pharma as well as the Veterinary space. The company manufactures herbal medicines that cover veterinary, poultry, and human health care.

American automotive startup, Canoo Inc. (NASDAQ:GOEV) revealed Monday that the California-based EV maker has finalized incentive agreements with the state of Oklahoma and the North American tribe Cherokee Nation.

free trade, but are at a disadvantage in a new era of aggressive industrial policy. Industrialized nations such as the U.K. and Singapore lack the scale to compete against the biggest economic blocs in offering subsidies.

After a seven-week rally, oil bulls are clinging to $80 per barrel pricing and looking to the Federal Reserve to reveal the deliberations that led to last month’s rate hike as markets look for signals on what the central bank could decide when it meets again In September.

Investing.com — U.S. futures traded higher Monday, with investors awaiting more earnings, this time from the crucial retail sector.

Honda Cars India has launched an 'Independence Day Service Camp' starting from August 16 and ending on August 20. Customers of the brand can enjoy special deals on car care services and Periodic Maintenance Labour during this event. The offers encompass various services like interior cleaning, paint treatment/beautification, headlamp and windshield treatment, underbody coating, and more.

Investing.com — European stock markets traded in a mixed fashion Monday, as investors digested better-than-expected German inflation numbers as well as persistent concerns about Chinese economic growth.

Ramkrishna Forgings on Monday announced bagging a USD 13.65 million (about Rs 107 crore) order from clients in the North American region. The order is for supply of rear axle and transmission components, the company said in regulatory filing.

HYDERABAD : Indian pharmaceutical company Divi's Laboratories reported a 49.2% fall in quarterly profit, missing analysts' estimates, as the generic drug maker grappled with pricing pressures in key markets like the United States. The company reported a consolidated profit of 3.56 billion rupees ($42.9 million) for the first quarter ended June 30, compared to 7.02 billion rupees a year ago. Analysts, on an average, had expected a profit of 4.17 billion rupees, according to Refinitiv data.

India can be a trusted supply chain partner of Taiwan, which leads in hi-tech manufacturing in the Asian region, remarked Edison Hsu, Director, Taipei World Trade Center Liaison Office in Mumbai at an interactive meeting organized for an in-bound Taiwan Trade Mission at WTC Mumbai. Notably, India ranks as Taiwan’s 14th largest export destination and 18th largest source of imports. Bilateral trade between the two countries totaled US$8.45 billion in 2022, representing an increase of 9.8% over the previous year.

Hindustan Times. He also highlighted that Taiwan plays a crucial role in the manufacturing of semiconductors, and foresaw the devastating effects a war in the Taiwan Straits would have on the world economy, the HT report said, adding that the semiconductor supply chain is controlled by a few dominant companies. In July this year, Indian and Japanese officials held discussions in New Delhi, exploring potential collaboration in crucial areas such as semiconductors and establishing robust supply chains.

NEW DELHI (Reuters) -India's wholesale price index fell 1.36% year-on-year in July, but the decline was smaller than expected because of higher prices for food and some commodities.

India has become the second largest mobile producing nation as locally made mobile phone shipments crossed the 2 billion cumulative mark in the 2014-2022 period, registering a 23% growth compounded annually, according to a new report. More than 98% of shipments in the overall Indian market were locally made in 2022, compared to 19% in 2014 when the current government took over, according to a report by Counterpoint Research.

wholesale inflation contracted 1.36 per cent on a year-on-year basis in the month of July after contracting 4.12 per cent in June, data showed on Monday. On a month-on-month basis, the index stood at 1.95 per cent. Economists polled by Reuters had estimated the wholesale price index for July would fall 2.70%.