Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
BEL will divest 10.8 per cent of fresh equity shares to Washington-based IFC and India Clean Energy Fund for $50 million ($25 million each), the company said in a press statement.
The Indian Navy rescued an Iranian-flagged fishing vessel with 19 Pakistani crew members and a Sri Lankan trawler in two swift operations after armed pirates hijacked the boats in the Arabian Sea amid deteriorating security situation arising out of Iran-backed Houthi rebels targeting various cargo ships in the region.
The International Finance Corporation, the private sector arm of the World Bank, has signed a $40 million loan agreement with Calgary-based Niko Resources Limited for expansion of its production base in Gujarat.\n\n\n\n
International Finance Corporation, the private equity arm of the World Bank, will invest $22.5 million (Rs 91.71 crore) in a subsidiary of Moser Baer, a manufacturer of optical storage discs.
Indian Navy on Wednesday said its ships and aircraft remain 'mission deployed' for maintaining enhanced surveillance and undertaking maritime security operations.
The International Finance Corporation is planning to increase its investments in India to $1 billion in the next two years even as it has pumped in additional funds in a US-based company with operations in Chennai.
Indian Navy's elite marine commandos on Friday rescued 21 crew members including 15 Indians from a bulk carrier in the North Arabian Sea and sanitised it in a swift operation while responding to an attempted hijacking of the Liberian-flagged vessel by around five-six armed personnel.
TCS will acquire 20.67 per cent in WTI Advanced Technology for which it has reached an agreement with the International Finance Corporation, the private lending arm of the World Bank.
International Finance Corporation plans to increase its investment to $1.0 billion this year in Indian companies, mostly engaged in manufacturing, infrastructure and financial sectors.
Mahindra & Mahindra chairman emeritus Keshub Mahindra passed away this morning in Mumbai due to old age. Mahindra, 99, breathed his last this morning at home peacefully, said a person close to the family. After joining the company in 1947, he became the chairman in 1963.
People in China get back to routine, but with caution after the lockdown placed to curb the COVID-19 outbreak was lifted in Shanghai and Beijing.
The US govt has urged the Supreme Court to reverse a lower court order on the Tata Mundra Power Plant in Gujarat funded by a financial wing of the World Bank
Reliance Jio had proposed that besides satellite connectivity, In-Flight Connectivity can be provided using cellular network as well.
Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
BlackBuck, India's leading online trucking platform, has closed a $67 million round of equity financing. The round was led by Tribe Capital, IFC Emerging Asia Fund and VEF. Existing investors Wellington Management, Sands Capital, and International Finance Corporation also participated in the round. The investment has made the Bengaluru-based company a 'unicorn,' or a startup valued at more than $1 billion, according to the firm. The company will use these funds to further penetrate the market and launch new service offerings for its customer base.
The dispute involves a UK-based hedge fund, Altima Partners, and the company's principal promoter Raghav Bahl, founder and largest shareholder of Network18, the broadcasting group which runs TV channels such as CNBC-TV18, Colors and Awaaz.
The villagers, led by Budha Ismail Jam, along with several other farmers and fishermen, allege that coal-fired Tata Mundra Power Plant in Tunda village in Kutch district, has resulted in widespread environmental damages.
Bandhan Bank has filed a draft red herring prospectus with Sebi for an IPO of up to 119 million equity shares, with face value of Rs 10 each.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
The Budget will focus on Gujarat's GIFT City.
Some international markets offer interest rates as low as one per cent, which could reduce the government's interest cost significantly.
Bandhan Financial Services, which is to start banking operations soon, has received a combined equity commitment of Rs 1,600 crore (Rs 16 billion) from International Finance Corp (IFC) and GIC, Singapore's sovereign wealth fund.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI).
International Finance Corporation will put in $200 million and HDFC will contribute $600 million to create $800-mn corpus for affordable homes
'In the end, investing is about people.' 'If you get the right people, they make things happen,' Mengistu Alemayehu tells Shyamal Majumdar.
With a robust outlook for mineral-led growth in India, Anil Agarwal-led Vedanta Limited is looking to invest up to $20 billion across its businesses, which includes doubling of silver production and steel capacities. In a virtual press conference had last month, Agarwal said the company planned a capex of $5 billion over a period of three years. The company has not given a timeline for $20-billion investment.
Percy Mistry says things at market regulator Sebi are also in bad shape.
In an email interview with Ranju Sarkar, International Finance Corporation's South Asia director Mengistu Alemayehu explains why the firm is bullish on building affordable homes in India.
Congestion on Mumbai roads has become chronic.
Company says no dispute with labour union but would address any shortcoming if brought to its notice.
Highlighting India Inc's drive for fresh investments, FICCI on Thursday called for the revival of development finance institutions by allowing agencies like IFC and ADB to play strategic roles in DFIs.
The World Bank's executive board unanimously selected 63-year-old Malpass, who is currently Under Secretary of Treasury for International Affairs, as the bank's 13th President for a five-year term beginning April 9.
Availability of Wi-Fi is also expected to provide local airlines an additional source of revenues amid stiff competition in the fast growing Indian aviation market.
Bandhan has got fresh equity infusion of Rs 1,020 crore.
Edtech major Byju's on Thursday introduced a new 'two-teacher' feature for its after-school online tutoring programme - Byju's Classes, a move aimed at delivering better learning experiences and outcomes. The two-teacher advantage offering - which will be available as a separate offering at about Rs 2,500 per month - will see students being taught by one expert teacher who uses strong visuals and storytelling to explain topics in-depth to ensure conceptual clarity. The second teacher will solve instant doubts, paying individual attention and making the sessions interactive and engaging.
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