Germany-based Mutares SE & Co will acquire 80 per cent controlling stake in Mahindra & Mahindra's French unit Peugeot Motocycles. In a statement, the Mumbai-based auto major on Thursday said Mutares has submitted an irrevocable binding offer to acquire 50 per cent of equity and a controlling stake of 80 per cent in France-based Peugeot Motocycles (PMTC). As part of the deal, Purple, a fully-owned entity of Mutares Holding, would invest 7 million euros in PMTC, which would entitle it to a 50 per cent shareholding and 80.01 per cent voting rights in the French firm.
'I also wish he would lead a spiritual life, confessing his past involvement in criminal activities'
Domestically, Indians are exploring popular beach destinations, the hills of Himachal Pradesh and Uttarakhand, and the North-Eastern region as well.
Citing unviable duty structure on key components like flat panels and open cell parts, Samsung had shuttered its TV assembly lines in Tamil Nadu in 2018.
The Vietnamese capital, which hosted the 2003 Southeast Asian Games and the 2009 Asian Indoor Games, beat Indonesia's Surabaya for the right to stage the 18th edition of the event after Dubai pulled out at the last minute.
Input shortages and low inventories, according to Nomura, will likely lead to production cuts and delayed shipments in the September 2021 quarter.
India head coach Igor Stimac feels this may be the final season of talismanic striker Sunil Chhetri's career.
Three business houses are likely to be in the final race to strike a deal with Germany's Metro AG for investing in its India unit -- Metro Cash & Carry. Industry sources in the know named Reliance, Adani Group, and Thailand's conglomerate Charoen Pokphand (CP) as potential frontrunners to acquire a partial or full stake in the Gurugram-headquartered Metro Cash & Carry, which has 31 stores and 5,000 direct employees. Around 20 companies, including strategic and private equity investors, were approached by the German chain, inviting them to bid for the Indian wholesale business, according to a source aware of the M&A developments.
Foxconn means serious business in India. Its delegation to India was led by its Chairman Young Liu who met Prime Minister Narendra Modi.
A tour of Vietnam and Cambodia with Anita and Rohit.
Blinken also underlined that diplomacy is the only way to definitively end the Russian conflict in Ukraine.
Indian freestyle wrestlers claim Asian team title in U-17 category
Technology major Apple earned nearly one-third of its revenue from emerging markets and doubled its business in India and Vietnam in fiscal 2021, according to its CEO Tim Cook said. Apple posted a 29 per cent year-on-year growth in revenue at $83.4 billion in the fourth quarter ended September 25, 2021. Its net income stood at $20.55 billion in the said quarter as against $12.67 billion in the year-ago period.
It will be a historic and strategic mistake to insist on taking China as a threat and adversary, or even an enemy, Chinese Defence Minister General Wei Fengh said on Sunday as he underlined that the China-United States relationship is at a critical and crucial juncture.
Blinken will also attend a meeting of the foreign ministers of the Quad grouping and will hold bilateral talks with his Indian counterpart S Jaishankar in Delhi.
India is shining, although I will argue that it is a temporary acceptance until India once again makes a mega-successful film like RRR or another beautiful, moving, documentary like The Elephant Whisperers, notes Aseem Chhabra.
"This trip will advance the Biden-Harris administration's rock-solid commitment to a free and open Indo-Pacific," White House Press Secretary Jen Psaki said in Washington, DC on Wednesday.
Prime Minister Rishi Sunak has made a clear break with the past on UK-China relations as he declared that the "so-called golden era" of bilateral ties is over in the face of the "systemic challenge" posed by the Chinese regime to British values and interests.
'We had tremendous faith in honorable Modiji in his second term as he was well-settled. Sadly that has been belied.'
Meanwhile, with China switching its trading partners due to geo-political issues, increased trade with South Africa for bauxite and with the US for coal is also auguring well for vessels with tonne miles going up.
India and Japan on Thursday agreed to enhance military exercises and defence cooperation as the two countries emphasised that the bilateral special strategic and global partnership plays a crucial role in ensuring a free, open and rules-based Indo-Pacific, amidst China's aggressive behaviour in the region.
Russia's Permanent Representative Vassily Nebenzia told an emergency UN Security Council meeting following the attack on the Zaporizhzhya nuclear plant in Ukraine, that radicals and extremists in Ukraine 'were and are' under the 'close guardianship and protection' of Western nations.
Blinken asserts that America will continue to stand up for religious freedom around the world.
'The IB and authorities knew I had given away all my property and had nothing in my name.' 'Even among police officers, they all respected me for this sacrifice which is rare these days.' 'They respected me from this point of view -- in this day and age few individuals live by ideals for the poor.'
His release from the central prison on Thursday was delayed by a day as the Department of Immigration, where Sobhraj was to be sent for deportation, did not have a separate room ready for him.
'People trust India and Indians a lot more than they trust China and the Chinese.'
The World Photography Organisation has announced its category winners and shortlist in the Open competition of the Sony World Photography Awards 2023.
India as the G20 host has a 'unique role' to play in bringing about an end to the war in Ukraine due to its 'longstanding historical' ties to Russia, the United States has said, expressing hope to work closely with New Delhi to find a way to stop the conflict.
The government on Tuesday announced revoking of anti-dumping duties on certain steel products imported from countries including China, a move aimed at containing high prices of metals and promoting domestic manufacturing.
IT services major HCL Technologies is looking at hiring about 20,000 people over the next two quarters to meet the demand coming in on the back of strong growth in deal signing and adoption of digital services. The Noida-based company, which crossed $10 billion milestone in the calendar year 2020, had 159,682 employees at the end of December 31, 2020. It saw a gross addition of 12,422 people, while net addition during the December 2020 quarter was of 6,597 people. Attrition for IT services (on last 12 month basis) was at 10.2 per cent.
China claims nearly all of the disputed South China Sea, though Taiwan, the Philippines, Brunei, Malaysia and Vietnam all claim parts of it. Beijing has built artificial islands and military installations in the South China Sea. Beijing is also involved in a maritime dispute with Japan over the East China Sea.
Perhaps the finance ministry or NITI Aayog could take a detailed look at what governments actually deliver and at what cost; how their services can be improved and expanded where necessary; how much money can be saved through doing things differently; and how many things the government does which it can safely leave to the private sector, argues T N Ninan.
Backed by the 'China Plus One' sentiment globally, India's textile exports is expected to grow by 81 per cent to $65 billion by 2026 from the pre-Covid level of around $36 billion in 2019, said a report by the Confederation of Indian Industry (CII) and global consulting firm Kearney. This jump is likely to generate 7.5-10 million new jobs. A large chunk of this targeted increase, or around $16 billion may come from the China Plus One sentiment due to India's relatively large strategic depth compared with Vietnam or Bangladesh, the report said.
Apple's three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off in April 2021. Based on the government's estimate that one direct job in the electronics industry helps to generate three indirect ones, Apple's vendors, Foxconn Hon Hai, Wistron and Pegatron, are close to creating 100,000 direct and indirect jobs. The direct jobs that the vendors have created account for a fourth of Apple's commitment to generate 60 per cent of the new direct jobs out of the 200,000 jobs targeted by the government under the PLI scheme within five years.
The Apple iPhone comprises 44 per cent of the global smartphone market's revenues and it is the second most-such device to be shipped after Samsung. More than half of smartphones used in the US are iPhones. More than 7 million iPhones are expected to be sold in India in 2022, extending the user base to 20 million, according to market research and analyst firm Techarc. Hence, the news about Apple scaling down its production target for iPhone 14 in India has made news.
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
Nomura Group Study found that in 2019, out of the fifty-six companies which shifted their production out of China, only three of these invested in India; while 26 went to Vietnam, 11 to Taiwan, and 08 to Thailand. In April 2020, Nikkei noted that out of the 1,000 firms which were planning to leave China and invest in Asian countries, only 300 of them were seriously thinking of investing in India.
Home-grown companies, including electronics manufacturing services (EMS) firm Dixon Technologies and mobile device maker Lava International, have started exploratory talks with Chinese sub-assemblies and component players for setting up joint ventures (JVs) in the country. Sources in the industry say many domestic companies have also had preliminary discussions with original design manufacturers (ODMs) in China to look at a JV model for manufacturing smartphones. Key ODM players in mobile devices in China include Longcheer, Huaqin, and Wingtech, which has already set up a plant in Tirupati.
Had India agreed to join the trade pact, Indian markets would have been flooded with cheap Chinese products.
Win one gold, 3 silvers on final day of competition.
