Progressive Financial News

Garuda Aerospace has expanded its operations in Sri Lanka, the first as part of its Global Garuda initiative which aims to increase the company’s presence in 50 countries, its chief executive officer, Agnishwar Jayaprakash, told ET. The Chennai-based company said it chose the island nation as the local drone policies were still developing and the new government was keen to promote technology and precision in agriculture and industries, seeking to reduce dependence on tourism. «We are traditionally a precision agricultural drone company. This year, we've seen revenues touch over Rs 100 crore and we saw a lot of attention coming in from overseas for our precision agriculture drones in particular. So we felt this was the right time to start making measured and cautious steps to expanding in overseas markets,” Jayaprakash said. “Sri Lanka because of its proximity to India, its developing drone regulation and smaller market was the perfect launchpad for us before venturing into other regions.»

climate change requires a focus on Asia, which is home to 60% of the world's population and contributes over half of global emissions, with temperatures in some areas rising twice as fast as the global average, and given India's size, scale, and influence, it plays a vital role in the global solution, said Desmond Kuek, executive director and CEO of Temasek Trust. «Addressing these issues in Asia is essential for global progress, and India plays a pivotal role in driving positive impact across Asia and beyond,» Kuek told ET in an exclusive interaction. «We are just at the start of this multi-year journey and aim to bring together diverse partners and stakeholders, including from India, to collectively tackle these challenges.» Since 2003, the Singaporean investment company has been setting aside a portion of its net positive returns above its risk-adjusted cost of capital for community gifts to foster a more inclusive world with focus on sustainable development. Temasek Trust, as the primary beneficiary of Temasek's gifts, disburses grants for programmes to be developed and delivered by its non-profit ecosystem including Temasek Foundation, Temasek Life Sciences Laboratory, and Mandai Nature.

Delhi Lt Governor V K Saxena on Sunday said de-silting work of three arterial drains of the national capital is progressing with removal of over 700 MT silt in a week. Saxena had visited Sunehri, Kushak and Barapulla drains on August 4. In a series of posts on X, he said, «Took stock of the ongoing de-silting work at Sunehri, Kushak and Barapulla drains that commenced after my visit on 04.08.2024. De-silting work is progressing satisfactorily at these sites with over 100 workers equipped with hi-tech machines working on war footing, round the clock.» With collective efforts of all agencies and a decisive push, the results have begun to show, he noted.

Reliance Industries Ltd, India's most valuable company, plans to commission its first solar giga-factory in the current fiscal as it pivots a green pathway to achieve net zero carbon emissions from operations by 2035. In its largest annual report, the firm said it is targeting to commission the first train of 20GW solar PV (photovoltaic) manufacturing by the end of 2024-25 fiscal (April 2024 to March 2025) and scale up to 20GW in a phased manner over 2026. The solar giga factory will include manufacturing of PV modules, cells, wafers and ingots, polysilicon, and glass at a single location. The modules convert sunlight into electricity. It is also targeting industrialising sodium-ion cell production at the MW level in 2025 and first 50 MWh a year lithium battery cells pilot in 2026.

Droupadi Murmu on Saturday lauded the «very small but active» Indian community in Timor-Leste as a 'living bridge' for its role in improving bilateral relations and announced that India will soon open its embassy here. President Murmu, who arrived earlier in the day, on the first-ever presidential visit from India to Timor-Leste, was speaking at an interaction event with the Indian diaspora in this archipelagic Southeast Asian nation. Before this event, Murmu received the Grand Collar of the Order of Timor-Leste, the country's highest honour from her counterpart Jose Ramos-Horta for her achievements in public service and dedication to education, social welfare and women empowerment. «The Grand Collar of the Order of Timor-Leste bestowed upon me is a symbol of manifestation of the warmth and special friendship between the two countries,» she said at the outset as she thanked President Ramos-Horta and the country for hosting her and the Indian delegation.

Nitin Gadkari has issued a stern warning to Punjab Chief Minister Bhagwant Mann, stating that the National Highways Authority of India (NHAI) may have to cancel or terminate eight major highway projects in Punjab if the law and order situation does not improve. These projects, valued at Rs 14,288 crore, are under threat due to ongoing security concerns and delays. Gadkari's ultimatum comes in response to recent incidents affecting the construction of the Delhi-Amritsar-Katra Expressway. Reports indicate that engineers and workers have been attacked in Jalandhar and there have been threats of arson and violence against the project camp and staff in Ludhiana. Gadkari emphasised that the cancellation of even one segment of these greenfield corridors could render the entire project ineffective. In his letter to CM Mann, Gadkari outlined serious safety concerns for NHAI officers, contractors, and their employees. He also noted issues with pending land acquisition, and included photos documenting the assaults.

Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector.

Hunter Schafer, who plays Jules in «Euphoria,» shared insights about the status of Season 3 on the Call Her Daddy podcast. The show faces delays and challenges following the loss of key team members.

Taylor Swift’s concerts in Austria. The planned assault, which was thwarted just in time, involved two teenagers who allegedly intended to detonate a bomb-filled car and unleash a wave of violence using knives and machetes on fans attending the sold-out shows, as per a Nee York Post report.

In weighing up its potential home for a Parameta Solutions IPO, the FTSE 250 company explained in its half-year results that the need for better liquidity could be a factor that could swing the decision.  «We are progressing strategic options in relation to Parameta Solutions, as previously announced. They include a potential offering, which might entail a listing in the United States, with the group maintaining a majority stake,» said Nicolas Breteau, group CEO of TP ICAP.  Superdry proposes delisting from London Stock Exchange as part of turnaround plan The leading over-the-count...

Kathleen Martin wasn't sure about leaving JPMorgan for Citi. It was late 2021, and she'd spent four and a half years at JPMorgan after a career at Morgan Stanley and GE Capital. At JPMorgan, Martin was an MD and global technology chief of staff, and her job was secure. But Citi came calling with what Martin says was represented to her as a «long-term leadership position» and she jumped. 

Investment banking revenues may be recovering, but banks' cost-cutting days are never done. And as banks cast about for costs to remove in a world where deals are recovering, guess who's in the firing line? Not people in the front office. 

Kamala Harris choose Minnesota Governor Tim Walz over Pennsylvania Governor Josh Shapiro and other contenders as her running mate? Was it because the Democrat presumptive candidate found him as radical as Republican vice presidential candidate JD Vance? According to 'The Telegraph', like Team Trump, the Harris campaign wanted to placate its radical wing. Donald Trump's running mate is more religiously devout than him and more passionate about conservative issues like marriage and family. So, the Democrats too wanted to select someone who could be portrayed as religious and conservative.

Reliance Industries Ltd wants to be the partner of choice for leading global climate technology and product companies, the telecoms-to-petrochemicals conglomerate said in its fiscal 2024 annual report released on Wednesday. Over the next 12 months, RIL said, its focus would be to bring onstream new-energy manufacturing facilities, operate them efficiently and start developing renewable energy (RE) generation projects. RIL's new-energy division will commission its first module and cell manufacturing train in the ongoing fiscal. Solar panels manufactured at its Jamnagar facility have obtained BIS certification. «Work on RE development has commenced and Reliance has been allotted land in Gujarat. We aim to become the largest RE developer in India,» RIL said in the report.

The Bank of Canada is now less concerned about home prices spiking as it lowers its benchmark interest rate, minutes from the governing council’s latest meeting show.

Bangladesh, currently in India, will stay here for some more time and has no plans to leave India yet, according to Sheikh Hasina's son Sajeeb Wazed Joy. There is no decision for Hasina to move from India to another destination yet, he said. «Hasina is well and my sister is with her but the former PM is very upset,» Joy said. She is upset that Bangabandhu (her father) gave his life for the country, and the country achieved so much progress but she was hounded out, Joy said. Joy warned if the security establishment cannot restore law and order, Bangladesh would face the same fate as Pakistan's. He said he is waiting to see how Nobel laureate Md Yunus would run the country.

Chancellor Rachel Reeves will meet bosses of big pension schemes in Toronto on Wednesday, as she seeks to create a “Canadian-style” model in the United Kingdom with massive retirement funds investing in equities and infrastructure.

The budget speech gave pride of place to the long-term goal of Viksit Bharat and also said that reforms in many areas would be needed to achieve it. This article focuses on one of those areas: trade policy. Policies should be tailored to specified targets, and in this respect, commerce minister Piyush Goyal has set an ambitious target.

rising unemployment, among other issues. Sheikh Hasina, the daughter of Bangladesh's founding leader Sheikh Mujibur Rahman, has been in power consistently since 2009: a period that also marked the country’s economic transformation and political stability. However, Bangladesh’s economic turnaround met with mass political unrest as Hasina’s governance began appearing dictatorial and elections were seen internationally as a mere formality.

Piyush Goyal on Wednesday suggested the seven member countries of the BIMSTEC bloc to relook at the progress of Free Trade Agreement talks which are moving at a very slow pace. He said that the members can think of negotiating a preferential trade agreement instead of a full-fledged free trade pact. BIMSTEC stands for the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation. Its seven members are five South Asian countries (Bangladesh, Bhutan, Nepal, India, and Sri Lanka) and two Southeast Asian countries (Myanmar and Thailand). The bloc has been negotiating a proposed Free Trade Agreement (FTA) since 2004.