Cummins India will soon start producing fuel-agnostic engine systems at the Tata-Cummins plant in Phaltan in Satara district of Maharashtra, senior officials at Cummins India said. The firm will start limited production by the end of 2023 and mass production will likely begin by 2024, the officials said.
In reflection of their growing congruence in areas of defence and security, the two sides, following the Modi-Mitsotakis talks, agreed to set up an institutional dialogue at the level of national security advisors, and boost defence industrial cooperation.
The European Commission will begin disciplinary action against seven Spanish clubs including Real Madrid and Barcelona over possible illegal state aid, Spanish foreign minister Jose Manuel Garcia Margallo said on Monday.
The Airbus A330-343 aircraft, scheduled to depart from the Colombo airport to Moscow on June 2 with 191 passengers and 13 crew members, was not allowed as the owner of the aircraft -- Celestial Aviation of Ireland -- had filed a case against Aeroflot, pending arbitration on the lease of the aircraft in London.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
Major General S C N Jatar, who passed into the ages on Monday night, thwarted anti-national forces at the peak of the Assam agitation. Colonel Anil A Athale (retd) salutes this officer and gentleman.
India is struggling with the second wave of coronavirus infection and hospitals in several states are reeling under a shortage of medical oxygen and beds in view of a rising number of COVID-19 cases.
Tata Group on Wednesday announced an investment of 4 billion pounds (about Rs 42,500 crore) in setting up a flagship factory to make batteries for Jaguar Land Rover as well as other manufacturers. Tata Sons, owner of JLR, chose Bridgwater in Somerset in southwest England for the gigafactory over a rival location in Spain. The gigafactory, at 40GWh, will be one of the largest in Europe and Tata's first outside of India, the conglomerate said in a statement.
Gujarat will host the next round of G20 meetings from March 27 to April 4, during which three conclaves will be held in the state on a range of issues, where delegates from different countries will converge for participation, an official said.
More than 1,400 people have signed an e-petition on the UK government website calling to 'Reverse Mango Import Ban.'
The 80-page bill, which follows a last-minute deal agreed with the EU last week, just days before the December 31 deadline of the end of the Brexit transition period, was debated by MPs in the House of Commons followed by the House of Lords.
'I understand some people are comfortable getting a Covishield shot as their third dose.'
Countries negotiating free trade agreements (FTAs) need to keep in mind eight "myths" which surround these pacts, like they lead to accelerated increase in exports and promote domestic manufacturing, according to a report by think-tank GTRI. The report by Global Trade Research Initiative (GTRI) claims to dispel these 'myths', including that FTAs weaken the WTO (World Trade Organisation), countries are rushing to do FTAs, and these pacts promote investment and lower prices. It is "erroneously" believed that most world trade happens through the FTA route, but in reality, it is less than 20 per cent, said the report titled 'FTAs: Fabulous, Futile, or Flawed?'.
Investors are showing some interest in the downstream energy cycle. Refiners and marketers, especially the public sector (PSU) oil marketing companies (OMCs) could see a revival of marketing margins. Lower crude oil and gas prices may also improve margins in industries like paints, logistics, synthetic fabrics, plastics, and fertilisers. In the medium-term, however, there could be a supply overhang affecting OMCs as new refining capacities are scheduled to be commissioned, especially in China, and this may lead to a drop in the refining margins as capacity would be surplus to demand until and unless there's a pick-up in global growth.
Weaker-than-expected growth in US jobs in recent months had already forced US central bankers to put off a rate hike at their meeting last week
There is no question of a Brexit-like referendum on the abrogation of Article 370 in Jammu and Kashmir, the Supreme Court said on Tuesday, as it grappled with the question as to whether its repeal was constitutionally legal.
The two leaders discussed the Ukraine crisis and several regional and global issues including increasing trade relations and cooperation in the field of mitigating the impact of climate change during their bilateral talks at the Danish Prime Minister's official residence in Mareinborg near Copenhagen.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
Ofcom ruled that it did not consider RT's licensee, ANO TV Novosti, 'fit and proper' to hold a UK broadcast licence.
The talks between the two leaders covered the entire gamut of bilateral ties as well as key regional and global issues, including the Ukraine conflict.
The exhibition of artefacts -- in physical and digital formats -- will be done on the same floor level where the leaders' meetings will take place, and they will walk through this 'cultural corridor' while moving into and out of the summit room, official sources said.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
The G20 declaration, which hit snags on the language to describe the Ukraine war, amounted to a 'coup' for host Prime Minister Narendra Modi though the final compromise statement reflected a stand far softer than those the United States and its Western allies have adopted on Russia, the world media said on Sunday.
Russia's invasion of Ukraine a year ago brought death to thousands of soldiers and civilians while millions of Ukrainians have been displaced. It has brought death, destruction and hardship to the country.
Nearly one in six people living in England and Wales last year were born outside the country and Indians constituted the largest chunk at 1.5 per cent of residents, according to latest statistics based on the country's 2021 census data.
Calling for 'equal recognition of vaccines', COVAX on Thursday urged all governments to recognise as 'fully vaccinated' those people who have received COVID-19 vaccines deemed safe by World Health Organisation, saying any move that restricts travel of people based on the vaccines they have received is 'counter-effective, both in spirit and outcome'.
The referendum by the Russian authorities on the annexation of occupied territories of Ukraine was largely seen as a "sham referendum" and has been widely criticised by various countries.
Premier Li, replying to a question on China's refusal to criticise Russia's military action against Ukraine, said that utmost efforts should be made to support Russia and Ukraine in carrying forward ceasefire negotiations.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
India's upcoming presidency of the G20 grouping is a matter of pride and a great opportunity for the country in its 75th year of Independence, Prime Minister Narendra Modi said on Tuesday. Modi made the remarks after unveiling the logo, theme and website of India's G20 presidency during an online event. India will assume the presidency of the powerful grouping from the current chair Indonesia on December 1.
So far, WTO members have jointly respected and honoured the Bali commitments.
Egypt's President Abdel Fattah El-Sisi will be the chief guest at this year's Republic Day celebrations.
The information technology services sector will see a sharp fall in revenue growth to 12-13 per cent in FY23 from 19 per cent in FY22, ratings agency Crisil said on Thursday. However, the current depreciation in the rupee, strong demand for new age technologies like artificial intelligence, cloud computing and Internet of Things will help the over $220-billion sector maintain a double digit growth, it said in a report. The moderation from 19 per cent to 12-13 per cent will be the highest in the last eight years, it said and attributed the decline to expected tightening of IT expenditure by corporates amid the inflationary headwinds in the United States and European Union (EU), which together contribute almost 85 per cent to the sector's revenue.
Iran was ousted from the United Nations Commission on the Status of Women on Wednesday evening in the wake of the Mahsa Amini protest.
Given wild swings, investors are wondering where the metal market is going. There was a strong uptrend in industrial metal through much of the last three years due to fears of supply chain issues - first due to Covid-19 and then due to the Ukraine War. That uptrend broke down as it became apparent that global growth would moderate as inflation rose and Western Europe (the EU plus the UK) went into a near-recession and China was in a rolling lockdown.
China and the US flexed their naval might by deploying aircraft carriers in a rare showdown in the Taiwan Strait, the narrow channel that separates the Chinese mainland from Taiwan, as Beijing fumed over US House Speaker's meeting with Taiwanese President Tsai Ing-wen in Washington.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
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