Sustainability Financial News

Boeing has partnered with India's AI Engineering Services Ltd to provide overhaul services to the Indian Navy's fleet of 12 P-8I maritime surveillance aircraft. As part of the partnership, the first landing gear overhaul of a P-8I aircraft was recently completed at naval base INS Rajali in Tamil Nadu, Boeing India said on Tuesday. «This is a first in India and reflects the growth in India's indigenous capabilities for undertaking complex Maintenance, Repair and Overhaul (MRO) services,» it said in a statement. The Boeing P-8I, a multi-role long-range maritime reconnaissance anti-submarine warfare (LRMR ASW) aircraft, is integral to the Indian Navy's maritime surveillance missions in the Indian Ocean.

Inox Wind rallied 35% in two days, making a new all-time high of Rs 237 in Tuesday’s session on BSE after the company on Friday announced its Q1 results wherein it turned profitable on a YoY basis. The company also announced a 51 MW order win from Everrenew.

«So, broadly, unless we have some trigger taking the market into a different zone, broadly, I see Nifty moving in this range and so is with Bank Nifty. The momentum says, right now, we are broadly into the sideways zone,» says Meghana Malkan, malkansview.com. What are your thoughts on the market? Let us talk about benchmarks first, Nifty, Bank Nifty, the levels you have on your radar and then a word on the broader markets as well. Meghana Malkan: Broadly, let us talk about Nifty first. So, key technical parameters if we look at, RSI, look at candle patterns, broadly price and momentum play, seems like we are in a consolidation phase. So, when I see the Nifty charts, 24,550 to 24,600 seems like a broader support where we could move on the higher side, the range of the consolidation and on the lower side, I think 23,900 is where we could be capped at the downside.

global coffee prices are rising, India’s coffee industry has an opportunity to innovate and diversify its offerings, says Vinay Nair, General Manager, India & Emerging International, Costa Coffee. Despite the ongoing price fluctuations, the enthusiasm for coffee, especially among younger generations, ensures that demand remains robust, he says. In an interaction with ET Digital, Nair recognises the need to address climate change. He says the company is involved in sustainable farming practices and responsible sourcing, which helps it support biodiversity and enhance the livelihood of coffee-growing communities. Edited excerpts: The Economic Times (ET): With coffee prices going up globally, how do you think this will impact the coffee industry in India? Vinay Nair (VN): Rising global coffee prices present both challenges and opportunities for the industry. India's coffee industry is thriving and is highly respected worldwide, but we do not have control over global pricing dynamics. However, we have observed that despite the fluctuations, the growing enthusiasm for coffee, especially among younger generations, ensures that demand remains robust. At Costa Coffee, this shift provides an exciting opportunity for us to innovate and diversify our offerings. We are enhancing our partnerships with local farmers and focusing on cost-effective, environmentally friendly sourcing methods.

Breakout stocks to buy or sell: Following weak global market cues, the Indian stock market fell flat on Monday. The Nifty 50 index lost 21 points and closed at 24,347.00, the BSE Sensex went off 56 points and closed at 79,648, whereas the Bank Nifty index gained 94 points and finished at 50,578. Cash market volumes on the NSE were about 9% higher than the previous session.

Despite the recent influx of over $192 million into U.S. spot Bitcoin ETFs, Bitcoin (BTC), the leading cryptocurrency, failed to sustain its overnight gains and started the week on a bearish note. This decline can be attributed to the news that $155.25 million in liquidations occurred across the crypto market.

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.

Axis Commercial Real Estate Fund, a strategic partnership between Axis Asset Management Co and global real estate developer, owner, and operator Tishman Speyer, has acquired a 1.5-acre land parcel at Fintech City in Chennai’s Nandambakkam. The fund has acquired the land parcel through a bid cum e-auction process conducted by the Tamil Nadu Industrial Development Corporation (TIDCO). The Tamil Nadu government, through TIDCO, has envisioned Fintech City as a world-class infrastructure hub for the financial technology industry in Chennai. “Chennai investment is the epitome of the fund strategy; wherein a clear titled land parcel supported by single window clearance for approvals at city centric location has been acquired in a transparent manner by the fund. The fund is completely aligned and will seek to benefit from TIDCO’s vision and strategy of the Fintech City,” said Chetan Shah, Head – Real Estate, Axis AMC.

Narendra Modi made headlines on Sunday as he held an umbrella for farmers during a heavy downpour while interacting with them at the India Agricultural Research Institute in New Delhi. Despite officials suggesting the event be cancelled due to the rain, the Prime Minister insisted on continuing, even offering to hold umbrellas for the farmers as they conversed. During the event, PM Modi released 109 high-yielding, climate-resilient, and biofortified crop varieties, marking a significant milestone in the country's agricultural innovation. He emphasised the growing adoption of natural farming among farmers, highlighting their conscious efforts to reduce pesticide use and their responsibility towards environmental sustainability.

New Zealand government has announced significant visa fee increases starting 1 October 2024, impacting nearly all visa categories. Immigration Minister Erica Stanford said that the changes are intended to create a more sustainable immigration system by shifting the financial burden from taxpayers to visa applicants. According to a report by ICEF Monitor, the adjustments are expected to reduce public funding requirements by more than NZ$563 million (US$338 million) over the next four years. Minister Stanford emphasized that the current immigration system has been heavily subsidized by taxpayers. “The changes we’re making are shifting the cost to those benefitting from the system. We’re ensuring it is self-funding and more efficient," she said.

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.

Godrej Agrovet Limited (GAVL) has announced that its Oil Palm Plantation business (OPP) will set up an Oil Palm Processing Milling unit in Tripura. To be set up in the Dhalai district of the state, where the company currently operates a nursery with a capacity of 3 lakh per year and plans to increase it to 5 Lacs per year, the company will also be setting up an advanced Research & Development centre for oil palm in the vicinity in addition to opening up of Samadhan centre, a one-stop solution centre providing comprehensive support to oil palm farmers. Following the introduction of the National Mission on Edible Oil — Oil Palm (NMEO-OP) in August 2021, the government of Tripura has embarked on a plan to bring at least 7,000 hectares of land under palm cultivation.

Tesla has stopped taking orders for the least expensive version of its Cybertruck, which is priced at $61,000, while making the $100,000 version available for immediate order and delivery as soon as this month, its website showed. Demand and supply for the Cybertruck are closely monitored by Tesla investors and fans, because Chief Executive Elon Musk has poured resources into the truck's development and plans to make 200,000 per year. As recently as October, Musk said Tesla had 1 million reservations for the truck. Some customers have indicated they are waiting for less expensive versions, because prices are higher and driving ranges lower than originally forecast.

Amit Shah on Saturday called on sugar mills to explore alternatives to sugarcane for ethanol production, pushing for a multidimensional approach to biofuel manufacturing. Speaking at an event organised by the National Federation of Cooperative Sugar Factories (NFCSF), Shah said: «The target set for ethanol blending of 20 per cent is 2030. We will achieve the target in 2025-26.» The minister highlighted that the government's ethanol blending programme has helped reduce the country's crude oil import bill and address environmental concerns. Shah emphasised the need for sugar mills to adopt a forward-looking approach, stating, «You need to be futuristic and look at opportunities and expand. ...ethanol can be made from multiple sources.»

The Prime Minister also took to his X handle on the occasion of World Lion Day celebrated on August 10, to share a few stunning images of the big cats. PM Modi highlighted that in February this year, the Union Cabinet approved the setting up of the International Big Cat Alliance, to bring together all the nations of the world where big cats reside. It seeks to build a holistic approach to boost sustainable development and also support community efforts in this regard. This endeavour, he said received an encouraging response globally.

central government was back on the path of fiscal consolidation in 2021-22, having «recovered ground» from the pandemic year, and its ability to sustain debt improved, the Comptroller and Auditor General (CAG) has said. In its report on the government's compliance in 2021-22 of the Fiscal Responsibility and Budget Management (FRBM) Act, the CAG has, however, flagged «deficiencies in disclosures» pertaining to sovereign guarantees provided to state-run firms to obtain loans, and its off-budget borrowings. The report was presented in Parliament on Thursday. «The government guarantees given to loans raised by the public sector entities was maintained within the target ceiling of 0.5% of the GDP for the year 2021-22. We noted deficiencies in disclosures in regard to guarantees,» the CAG said in the report. «Disclosure on extra budgetary resources (being a component of the central government debt) was found deficient in respect of completeness,» it added.

Veronika Rinecker is based in Germany, studied international journalism and media management. She specializes in politics and regulation, energy, blockchain, and fintech. Since 2017, she has been...

Bitcoin mining company, Bitfarms has experienced a surprising surge in its stock price, rising 20% despite reporting a mixed financial performance for the second quarter.

Ashwini Agarwal, Founder, Demeter Advisors, says one way to manage risk for any investor is to run equity exposure in a band. If one is feeling very bullish, one should be at the upper end of the equity exposure band and if one is very bearish, one should be at the lower end of the equity exposure band. One should not be zero equities, even if very bearish because one could be wrong. Agarwal himself is operating in a band that is closer to the lower end of his equity exposure and is on the upper end of his cash exposure at this point. Usually, the RBI governor is very watchful, ever-careful, and very calculated about the messaging. But yesterday he was very clear that the priority is to contain inflation and prescribed markers so that the durability of growth can be ensured. He also went after grey areas of credit like top-up loans. How do the lenders look? They have been underperforming for a long time. Ashwini Agarwal: I think RBI has done a stellar job of communicating its policy stance and its objectives. If you think about what the Street was expecting ahead of the policy announcement and what was finally delivered, there is absolutely zero difference. Nobody expected any rate cuts, nobody expected any signalling. The RBI governor has been very clear that it is inflation that he wishes to target and till the inflation is firmly out of the way, there is no question of interest rates being rolled back or liquidity becoming a little more accommodative.

carbon emission levels to a zero.

logistics firm Delhivery’s chief executive Sahil Barua says the economics of deliveries in 10-15 minutes may not be sustainable for categories beyond groceries and fast-moving consumer goods. In an interview with ET’s Pranav Mukul and Samidha Sharma, he says the timelines will start increasing as the cost of quick deliveries becomes apparent. Delhivery, which swung back into a profit for the April-June quarter, is launching a network of shared dark stores for brands and ecommerce players to deliver in 2-4 hours, but will steer clear of instant deliveries, says Barua, who is also an independent director at IPO-bound food and grocery delivery firm Swiggy. Edited excerpts: Revenue growth has been slow for Delhivery over the past year. Is there pressure on your top line? Our express parcel business, which is the ecommerce-linked segment…is reflective of market conditions. Our volume growth could have been slightly higher but last year, Meesho launched Valmo (its logistics vertical) and overall volumes for third-party players have been constrained a little bit. We’re relatively less affected given that we don’t have too much dependence on Meesho, but overall volumes available on the third-party side have come down. Plus, this is the period where we have commercial renegotiations with a lot of our customers. So, until that’s done, the volume uplift takes a little bit of time.