Manufacturing Financial News

TORONTO (Reuters) — Talks in Pacific Canada between striking dock workers and their employers have resumed after four days away from the negotiation table, a statement on Saturday by the British Columbia Maritime Employers Association (BCMEA) showed.

NEW DELHI : India’s manufacturing sector has failed to capitalize on multinational companies’ efforts to diversify supply chains away from China, foreign direct investment (FDI) data shows, even as manufacturing continues to shrink at the northern neighbour. Expectations of higher inflows into Indian manufacturing had taken root as China’s purchasing managers’ index (PMI) for manufacturing contracted in seven of the last 12 months, as Beijing struggles to reopen its economy after exiting its controversial zero-covid policy early this year. India’s PMI for manufacturing did not contract in the past year, but against expectations, FDI inflows fell 22% to $46.03 billion in FY23 amid high inflation and recessionary trends in developed economies.

New Delhi: The Central government is considering a proposal on whether the bigger hospitals like AII India Institute of Medical Sciences (AIIMS), Post Graduate Institute of Medical, Education & Research (PGIMER) Chandigarh, Medanta and Directorate General of Armed Forces Medical Services Armed Forces Hospitals (DGFAMS) should be allowed to procure or import medical devices directly from the manufacturers. Currently, some of the hospitals are importing medical devices from original equipment manufacturers.

Indian Space Research Organisation (ISRO) will soon transfer its Small Satellite Launch Vehicle (SSLV) to the private sector, after conducting two development flights of the rocket that seeks to provide on-demand services to put satellites weighing up to 500 kg in a low-earth orbit. The space agency has decided to opt for the bidding route to transfer the mini-rocket to the industry, a senior official said. «We will be transferring the SSLV completely to the private sector.

BoE Gov Bailey Speaks (on July 09): Bank of England (BOE) Governor Andrew Bailey (Mar 2020 - Mar 2028) is to speak. As head of the BOE's Monetary Policy Committee (MPC) which controls short term interest rates, Bailey has more influence over sterling's value than any other person. Traders scrutinize his public engagements for clues regarding future monetary policy.

Chocoholics may be in for a shock at the checkout after the price of cocoa soared to a 12-year high and heavy rain across West Africa accelerated the spread of a rot-causing disease.

Brussels/London | European aluminium producers are warning that a loophole in the EU’s carbon border tax will lead heavily polluting exporters such as China to circumvent the rules and flood the bloc with low cost, emissions heavy metal.

Vande Bharat Express will be 'saffron' in colour, railway officials said on Saturday. The new saffron Vande Bharat Express is however not yet operational and is currently stationed at the Integral Coach Factory (ICF) in Chennai, where Vande Bharat trains are manufactured.

The Indian economy stands at a crucial crossroads, with paths leading to growth and sustainable prosperity, or to a cliff edge and sheer drop. Technically, going by official statements, it looks set to carry its growth momentum into fiscal 2023-24, buoyed by favourable tailwinds and signs of a resurgence during 2022-23 (with the year’s real GDP coming in at 7.2%), thereby setting the stage for a broader recovery and good times ahead.

India’s top seven property markets broke the six-quarter declining trend by making a recovery in the quarter ended June supported by demand for global capability centers across Industries. While occupiers remain slightly bearish on expansion activity, India continues to see growth from its domestic corporations and global occupiers moving ahead with their expansion plans in a steady manner. The gross leasing activity in the top seven cities of India reached 12.7 million sq ft during the quarter, demonstrating a stable market sentiment in comparison to the previous quarter, showed data from JLL India.

As tech companies head into Q1 earnings season this week, experts will also be keeping a close watch on any management commentary on the revision of the growth outlook for FY24, the spread of demand deterioration beyond BFSI (banking, financial services and insurance), hi-tech, telecom and retail verticals, net hiring, project ramp downs and pricing pressures, as key monitorables.Tata Consultancy Services (TCS) and HCL Tech are scheduled to declare their results on July 12, followed by Wipro's report card a day later (July 13). Infosys will announce its Q1 numbers on July 20, while LTIMindtree is slated to do so on July 17.

Some brokerages, in fact, have cautioned that pain will continue for the tech pack up ahead, as recovery is likely to be more gradual, only around Q4 FY24 or in FY25. As tech companies head into Q1 earnings season this week, experts will also be keeping a close watch on any management commentary on the revision of the growth outlook for FY24, the spread of demand deterioration beyond BFSI (banking, financial services and insurance), hi-tech, telecom and retail verticals, net hiring, project ramp downs and pricing pressures, as key monitorables.Tata Consultancy Services (TCS) and HCL Tech are scheduled to declare their results on July 12, followed by Wipro's report card a day later (July 13).

ideaForge's near multibagger returns on Day 1, investors are expecting another strong listing from Cyient DLM, whose shares will debut on Monday. The grey market premium (GMP) of Cyient DLM is around Rs 150-155 in the unlisted market. If we consider the upper price band of Rs 265, the company's shares are expected to list at a premium of 58%.

Hyundai Exter. As revealed by the auto manufacturer, the Exter SUV will come in six single-tone and three dual-tone color options including Cosmic Blue and Ranger Khaki. Here’s everything that we know about the SUV so far Bookings of the Hyundai Exter SUV are currently open.

India-Sri Lanka ties have strengthened the friendship and all-around cooperation between the two countries, according to the news agency PTI.  “We were the first creditor nation in January this year to convey the financing assurances needed to kick start the IMF process. India will continue to play a constructive role as a Co-Chair of the Creditors Committee along with Japan and the Paris Club," he said.

A decline in Germany’s industrial output suggested sustained manufacturing weakness in Europe’s largest economy. Inflation expectations remained elevated in the UK and services activity in China grew at a slower pace.

Sri Lanka's efforts for recovery from the worst economic crisis. Addressing the inauguration ceremony of the Construction, Power and Energy Expo 2023 in Colombo on Friday, India's Deputy High Commissioner Vinod K Jacob said that recent developments in India-Sri Lanka ties have strengthened the friendship and all-around cooperation between the two countries. «We were the first creditor nation in January this year to convey the financing assurances needed to kick start the IMF process. India will continue to play a constructive role as a Co-Chair of the Creditors Committee along with Japan and the Paris Club,» he said. India in January this year became the first country to hand over its letter of support for financing and debt restructuring of Sri Lanka to the International Monetary Fund (IMF). In May this year, 17 countries that have extended loans to Sri Lanka formed an official creditor committee' co-chaired by India, Japan, and France, to discuss Sri Lanka's request for debt treatment. Paris Club is a group of officials from major creditor countries whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by debtor countries.

gold traders as, depending on the US data released through the week, the metal swung from one end to the other end of its current trading range of $1900-$1950. The US macroeconomic data released in the week were mixed. ISM manufacturing (June) at 46 fell short of the expectation of 47.10 as ISM prices paid further softened from May.

China look set to send a deluge of production into the market. The construction of more than 20 petrochemical projects — to produce raw materials that go into making everything from plastic packaging to clothing and detergents — will be completed across China this year, said industry consultant ICIS. While part of their output will go into factories across what is still the world’s largest consumer, a slower-than-expected rebound in China’s economy and excessive investment means oversupply is on the cards.

Patriot Battery Metals, the ASX-listed lithium explorer working on a big project in the Canadian province of Quebec, used “curiously timed buyout rumours” to inflate its share price, a short-selling activist investor claims.

electric vehicle (EV) sector, Renault Chairman Jean-Dominique Senard told Reuters on Saturday, as Asia's superpower dominates key raw materials to make batteries for zero emission cars. China's recent decision to restrict exports of two metals — gallium and germanium — used in semiconductors and EVs should raise red flags for European leaders as it shows the continent's over-reliance on China and the need to build a costly supply chain, Senard said in an interview.