Southern Financial News

Vietnamese automaker VinFast plans to spend up to $2 billion to build an electric vehicle factory in India, the world's third-largest auto market by sales

A trade group representing TikTok, Snapchat, Meta and other major tech companies has sued Ohio over a pending law that requires children to get parental consent to use social media apps

damaging wind gusts, hail, and even tornadoes during Monday evening and the overnight period. On Monday, a potent system is traversing the central US, posing a risk of severe weather and heavy rainfall in the Southern regions, according to reports. Southern Mississippi and southeastern Louisiana, including New Orleans, are particularly susceptible to heavy rainfall, intensifying the threat of flooding in these areas.

Welspun One, an integrated fund and development management platform, has entered into its second Memorandum of Understanding (MoU) with the government of Tamil Nadu to invest over Rs 2,000 crore over the next five years taking its total investment in the southern state to Rs 4,500 crore. This strategic move solidifies the company’s commitment to the state's economic development and follows an earlier agreement for investment of Rs 2,500 crore inked in 2021. The new pact outlines Welspun One's plan to drive the proposed development of industrial and logistics parks that are expected to generate direct employment opportunities for 5,000 people and contribute to the development of ancillary industries, creating indirect employment opportunities for 10,000 people. «Welspun One's ongoing commitment to invest in Tamil Nadu reflects a collaborative spirit and a common resolve to meet all mutually agreed obligations, guided by the facilitation of Guidance, the pivotal agency of the Government of Tamil Nadu for investment promotion,” said Balkrishan Goenka, Chairman, Welspun World. He expressed confidence the collaborations and projects will play a substantial role in shaping the industrial and economic dynamics of the region. “Our first MoU with the Tamil Nadu Government laid a strong foundation, and we are on track with our investments as per the initial agreement. Our focus is on creating sustainable infrastructure, generating employment opportunities, and contributing meaningfully to the state's industrial growth,” said Anshul Singhal, Managing Director, Welspun One. As part of the earlier pact signed with the state government, Welspun One has set up two projects in Tamil Nadu.

DLF Ltd, India’s largest listed real estate company, on Monday said it has sold the entire 1,113 high-end luxury residential units of its latest project DLF Privana South in Gurugram for ₹7,200 crore. The residential units were sold out completely within 72 hours ahead of its official launch, DLF said in a regulatory filing. In 2023, the company had launched a high-rise luxury housing project The Arbour after almost a decade that had witnessed pre-formal launch sales of more than ₹8,000 crore.

Southern Petrochemical Industries Corporation Ltd (SPIC Ltd) on Monday said it will invest Rs 1,900 crore in Tamil Nadu over the next two years following a memorandum signed with the state government as part of the Global Investors Meet (GIM) in Chennai. The investment would be made across SPIC Ltd, Greenstar Fertilizers Ltd, and Tuticorin Alkali Chemicals and Fertilizers Ltd, the company said in a statement.

₹425.96 crore. This buyout, funded entirely by internal accruals, brings ACC's ownership of ACCPL to 100%, with the total enterprise value of the acquisition at ₹775 crore, inclusive of ₹35 crore in cash and equivalent, the company said said in a filing with the stock exchanges. This acquisition aligns with ACC's growth strategy and commitment to creating value for stakeholders, said Ajay Kapur, chief executive, ACC Ltd.

Crisil Ratings, green power (including WHRS) accounted for 30-35% of the sector's total power mix in FY23, and this number is expected to rise to 40-45% by FY27. Ambuja Cement Ltd recently announced an investment of ₹6,000 crore in install solar and wind power. Close competitor UltraTech Cement Ltd aims to raise its green-energy portion from 22% to 60% by FY26.

Lok Sabha polls, Prime Minister Narendra Modi is likely to visit all the major states at least once before February 5. Sources said Modi will make two visits to large states while he would visit a few of the smaller states once. The PM's tour has already started with visit to southern states. Modi visited Tamil Nadu, Lakshadweep and Kerala last week.

By Nidal al-Mughrabi

By Ari Rabinovitch, Simon Lewis and Nidal al-Mughrabi

By Praveen Paramasivam

Israeli military signaled that it has wrapped up major combat in northern Gaza, saying it has completed dismantling Hamas' military infrastructure there, as the war against the militant group entered its fourth month Sunday. The military did not address troop deployments in northern Gaza going forward. Its spokesman, Rear Adm.

CHENNAI : India's southern state of Tamil Nadu has signed investment pacts worth more than $4.39 billion with firms such as Apple suppliers Tata Electronics and Pegatron, as well as auto major Hyundai Motors, it said on Sunday. Apple is counting on India as the next big driver of its growth as the tech giant looks to diversify some production away from China, with Pegatron working towards a second factory in the country where Tata Group last year began to assemble iPhones. Tata Electronics, a part of the Indian conglomerate, committed to invest ₹12,080 crore for mobile phone assembly operations, the state government said during the signing of the agreements.

Israel and Lebanon-based Hezbollah traded fire Saturday in one of the heaviest days of cross-border fighting in recent weeks, a day after the militia's leader urged retaliation for the targeted killing, presumably by Israel, of a top Hamas leader in Lebanon's capital. Hezbollah leader Sayyed Hassan Nasrallah said that if his group didn't strike back for the killing Tuesday of Saleh Arouri, Hamas' deputy political leader, all of Lebanon would be vulnerable to Israeli attacks.

Guards vowed on Saturday to reach «the enemy» far and near as tensions soar on key shipping routes where Tehran's allies have been attacking vessels. «Today, we are facing an all-out battle with the enemy,» said Guards commander Hossein Salami at a ceremony in the southern Gulf port city of Bandar Abbas, where the Guards' navy unveiled a new ship named «Abu Mahdi» and 100 missile launchers. Salami did not name the enemy, but 22 nations have agreed to participate in a U.S.-led coalition to safeguard commercial traffic in the Red Sea from attacks by Yemen's Iran-backed Houthi movement. The Houthi attacks since November are a show of support for the Palestinian group Hamas in its war with Israel. In response, many major shipping companies have switched to the longer and more costly route around the Africa's Cape of Good Hope rather than pass through the Suez Canal, which handles about 12% of global trade. «We need to defend our national interests to wherever they extend,» Salami said in a televised speech. «It will be harmful for the enemy to be found near and at a half distant.

Also Read |Japan earthquake toll hits 62; thousands sheltered, rescue ops on amid aftershocks: 10 updates For additional context, a tweet from USGS Earthquakes earlier in the day mentioned a morning earthquake with a magnitude of 4.1 near Lytle Creek, specifically noting its proximity to the intersection of the San Jacinto fault and the San Andreas fault. The tweet included a cautionary statement, stating a one-in-20 chance of a larger earthquake occurring in the next few days.

By Samuel Indyk

Investing.com -- Shipping giant Maersk (CSE:MAERSKb) has said it would divert its vessels away from the Red Sea region for the «foreseeable future» in response to «significantly elevated» security risks posed by recent attacks by Yemen's Iran-backed Houthis.

Sri Lanka has declared a moratorium on foreign research ships entering its waters for a year amid concerns from India over Chinese research vessels docking in its neighborhood. Though the moratorium comes ostensibly for capacity building it is seen as a reaction to growing concerns in India.

snow? Turns out, they may not have to wait much longer.Global News chief meteorologist Anthony Farnell says after seeing the warmest December on record across the country, January will see a change in the pattern.“It’s going to start in the West, that’s where the cold and snow begins, but then I think as the month progresses, we’re going to see widespread cold and snowy conditions across much of the country,” he said.The lack of both has put a damper on many winter activities from coast to coast.In Quebec, despite its southern region being hit by a major snowstorm in early December, rainy and warm weather washed away most of the 30 centimetres that fell. It’s also washed out any plans for outdoor ice rinks in Montreal and other municipalities.Skiers in Manitoba also struggled, with grainy and icy snow making it difficult for cross-country enthusiasts to enjoy the paths.Ski hills have also faced problems, with several reporting fewer than half their tracks open to the public during the recent holiday season.The lack of snow is not necessarily surprising given the presence of El Niño, with Farnell having forecast last month that nearly the entire country would see milder weather through much of December.As for the blast of cold previously forecast to hit around the holidays, well, that has changed slightly, Farnell said, but the cold is still “definitely coming.”“The big question is, does it stay?” he said.