Manufacturing Financial News

When battery-grade lithium prices descended into a bloodbath on the new Guangzhou Futures Exchange last month, it sent ripples through the Australian bourse, tearing chunks off the share prices of lithium miners and explorers.

MUMBAI : India is in a bright spot and seeing steady, long-term foreign investment inflows, ​according to P​.D. Singh, chief executive and managing director of corporate banking, India, at JPMorgan Chase Bank. In India, regulators have driven change by disruption and innovation, Singh said in an interview.

NEW DELHI : India’s smartphone market is grinding through its second year of contraction, the first time since the market took off 14 years ago, a Mint analysis of data from three market research firms showed. Smartphone shipments that crossed 100 million for the first time in 2015 peaked at 160 million in 2021 before shrinking 10% to 144 million in 2022.

Maruti 800 king of the Indian road, the latest available data show companies are launching a disproportionate number of autos and other products at the higher end, reflective of a K-shaped recovery following the pandemic, said market researchers and senior industry executives. That’s narrowing choices at the lower end, where demand has been languishing in the past few years, they said. The number of car models available in the sub Rs 10 lakh category more than halved to 27 in the June quarter from 57 in FY19, according to data available with manufacturers. Models priced over Rs 10 lakh almost doubled to 50. Of the half a dozen or so passenger vehicles unveiled this fiscal year, only the Maruti Suzuki Fronx and the Hyundai Exter have variants priced below Rs 10 lakh. The Maruti Suzuki Jimny and the new Kia Seltos as well as the forthcoming Citroen C3 Aircross and the Honda Elevate are all tagged upward of Rs 10 lakh. In consumer durables, of the 170 televisions launched in the current calendar year, 100 were in the premium 50-inch-plus display size. According to electronics industry market researcher GfK India, the share of such premium televisions in total sales has grown almost four times since 2019 in the first six months of this year. GfK India data show the number of laptops priced above Rs 50,000 stood at 69% of the total models launched in the January-June period compared with 47% in the same period of 2019.

GoI the benefit of the doubt. While upholding the letter of multilateral and bilateral agreements, the plan was, we argued, to push vendors to switch to China Plus One options quickly. Now, with the follow-up announcement that FTA partners like Japan and South Korea will not be spared, the whole import licensing issue shows up India in poor light, especially to its trading partners.

Chad in support of anti-«terrorism» efforts and border protection, the oil-rich Gulf state said on Sunday. Chad is a neighbour of Niger, where a coup late last month toppled one of the last pro-Western leaders in the jihadist-plagued Sahel region. The UAE's official news agency WAM included a photo of several desert-coloured armoured vehicles, with the Emirati and Chadian flags draped over two of them.

Reliance Industries Limited (RIL) aims to provide affordable green hydrogen as a viable alternative to traditional fuels, said Chairman Mukesh Ambani in Ambani in RIL's integrated annual report 2022-23 released on Sunday. «A switch to cleaner energy sources is key to our decarbonisation strategy. We are making significant strides in establishing a world class solar energy value chain...Our goal is to provide affordable green hydrogen as a viable alternative to traditional fuels,» Ambani said in his address to shareholders.Reliance is among the largest global producers of grey hydrogen.

Investing.com — There are four more weeks to this year’s Labor Day — the timeline typically used to ascertain the peak for summer oil demand; typically, because oil demand itself is so dynamic that it can go any way any time of the year.

Maruti Suzuki India Limited (MSIL) chairman RC Bhargava said the automaker is planning to double its production capacity to 4 million units in nine years from now. The company will, as soon as possible, announce what it is proposing for its next stage of growth, Bhargava said in the annual report for 2022-23. “Your company now has to add the next 2 million in a period of 9 years.

Mint, adding that the current account deficit (CAD) is expected to fall during the current fiscal from last year. Going forward, India will see higher growth on the back of infrastructure creation, strong investment, and the efficiency gains from harnessing digital infrastructure, he said. Edited excerpts from an interview.

Here's how analysts read the market pulse:“Increased concerns over the US economy forced investors to flee in search of safe haven investments, leading to a surge in the dollar index. Nonetheless, the domestic market recovered from the impact of weak global cues, gaining support from positive domestic earnings led by IT and pharma stocks. India's manufacturing activity remained robust, although it marginally moderated for the second consecutive month in July.

free trade agreement, according to an official. “The EU officials are coming for the G20 trade ministers meeting this month in Jaipur. There is a high-level meeting at the minister level on August 26 in the national capital between India and the EU," PTI reported.

Srivari Spices and Foods will open for public subscription on August 7. The issue closes on August 9.

India and the European Union (EU) will be held this month to take stock of the progress of talks on the proposed free trade agreement, according to an official. «The EU officials are coming for the G20 trade ministers meeting this month in Jaipur. There is a high-level meeting at the minister level on August 26 in the national capital between India and the EU.

AFP reported. "When you lose your job, your life comes to a close," the 43-year-old from Lahore told AFP, adding, "We've been working in factories for years... the day you get sacked, the story ends there." Amidst the global economic slowdown triggered by the war in Ukraine and the increase in energy expenses, Pakistan's industrial manufacturing sector has also been adversely affected, mirroring the situation in other parts of the world.

Intas Pharmaceuticals for manufacturing lapses, including failure of its quality control unit to ensure CGMP compliance, at its Sanand-based manufacturing plant. In a warning letter dated July 28, 2023, the US Food and Drug Administration (USFDA) pointed out various manufacturing lapses at the plant.

Pakistan textile industry that has seen it lose ground to more nimble Asian competitors. «When you lose your job, your life comes to a close,» the 43-year-old from Lahore told AFP. «We've been working in factories for years… the day you get sacked, the story ends there.» Pakistan's industrial manufacturing sector — like elsewhere in the world — has suffered from the slowdown in global consumption and the rise in energy costs following the outbreak of war in Ukraine.

Automaker Maruti Suzuki India has planned to add about 28 different models in the next seven years, according to the company's Chairman R C Bhargava. The company is kicking off the 'Maruti 3.0' strategy to ramp up its production too. Bhargava, during his address to the company's shareholders in the Annual Report for 2022-23 added that the company has aimed to add another 20 lakh units of production capacity in nine years.

Government restricts import of laptop, computers, tablets] for computing devices such as laptops, tablets, all-in-one personal computers (PCs), and servers that has now been [Government delays licensing mandate for import of laptops and PCs by 3 months] pushed by three months to 1 November, the idea of becoming an Atmanirbhar Bharat or a self-reliant India in the information technology (IT) hardware space remains a compelling, and logical proposition for the country on many counts. First, it will help the country reduce its imports from China (India’s trade deficit with China stood at $83.1 billion in 2022-23), pre-empt other geopolitical pressures that impact trading, and strengthen the country's hardware supply chain.

macroeconomic data, foreign capital inflow, and upcoming Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI). Domestic equity benchmarks Sensex and Nifty closed with decent gains on Friday (August 4), snapping their three-day losing run, amid positive global cues. Sensex closed 481 points, or 0.74 per cent, higher at 65,721.25 while the Nifty closed at 19,517, up 135 points, or 0.70 per cent.

Forty-four companies, including top brands, have already applied for incentives under the production-linked incentive (PLI) scheme for IT hardware manufacturing, a top government official said. The recently notified import restrictions on products such as laptops and tablets were introduced from a security perspective but will spur local production and won’t lead to supply disruptions, according to this person. IT hardware companies have been told about the licensing portal where it takes five to 10 minutes to get approval for an import licence, this official said.