Banks and companies in India are taking a cautious approach towards Sri Lanka, which, reeling from a financial crisis, has sought a $1-billion loan from the country to import essential commodities. A senior State Bank of India (SBI) executive said the bank was committed (to Sri Lanka) for the long term. "As far as exposures (are concerned), the bank will be cautious on its dollar exposure to Sri Lankan entities till the situation improves," he said.
With $120 billion worth of deals, 2018 was the best year on record. Many also blame frequent policy flip-flops and increasing tax scrutiny as big dampners for business.
Billionaire Gautam Adani's group has created a new company for its foray into healthcare services through the acquisition of large hospitals, diagnostic chains, and offline and digital pharmacies. Adani Enterprises Ltd - the group's business incubator firm - in a regulatory filing said a wholly-owned subsidiary, Adani Health Ventures Ltd (AHVL) was incorporated on May 17, 2022. AVHL will "carry on the business of healthcare-related activities including, inter alia, setting up, running, administrating medical and diagnostic facilities, health aids, health tech-based facilities, research centers and to do all other allied and incidental activities in this regard," it said.
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
The vaccination drive was only one important part of India's globally recognised pandemic management and response strategy, observes Dr Vinod K Paul.
Engineering giant Larsen & Toubro (L&T) handed out a pay cheque of Rs 61.27 crore to its chief executive officer (CEO) and managing director (MD) SN Subrahmanyan in the last financial year (FY22), which is a near 115 per cent hike over FY21, as executive compensation at India Inc comes under sharp focus after two years of Covid-19. In fact, the total compensation of L&T's executive directors (including Subrahmanyan) in FY22 was 120 to 670 times the median remuneration of the company's employees, data from its FY22 annual report shows. This points to sharp hikes that the top management saw in their remuneration during the period, experts in human resources said. In FY21, L&T's executive compensation was 56 to 337 times the median remuneration of company employees.
'Mumbai's corroding infrastructure, Delhi's pollution, Bangalore's rain water drainage, Kolkata's electricity -- these are all real and serious life threatening situations.'
The 193-member General Assembly adopted the draft resolution, put forward by Ukraine and its supporters, titled 'Principles of the Charter of the United Nations underlying a comprehensive, just and lasting peace in Ukraine'.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Besides electric vehicles, some start-ups present are working in the area of bike customisation, motorsports, auto gaming arena, autonomous vehicle and so on
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
'If we are to be a contributor to the economy, we have to reduce carbon and imports.' 'We will achieve both -- that's our target.'
Engineering giant Larsen & Toubro (L&T) is looking to divest its exposure to road and power concessions and incubate digital and e-commerce businesses as part of its new five-year plan ending 2025-26 (FY26). The base year for the plan is 2020-21 (FY21). The blueprint, called Lakshya 2026, is intended to help the company exit sub-scale businesses, concentrate on high-technology (tech) manufacturing, construction and green energy projects, and increase its share from information technology (IT) and digital services. The lending operations of the financial services business, meanwhile, will be reorganised, with focus on retail lending.
French oil and energy group Total has agreed to a $2.5 billion deal that includes buying a 20 per cent minority stake in Adani Green Energy Ltd (AGEL) from Adani Group, as it builds up its presence in the renewable energy sector. The deal involves Paris-based Total getting a board seat in the largest solar energy developer in the world, as well as a 50 per cent stake in a 2.35 gigawatts portfolio of operating solar assets, the two firms said in statements. Total had in 2018, agreed to buy a 37.4 per cent stake in Adani Gas Ltd - the city gas distribution firm of the Adani Group, and a 50 per cent stake in the billionaire Gautam Adani-run ports-to-energy conglomerate's under-construction Dhamra LNG project in Odisha.
Modi and Deuba discussed ways to strengthen ongoing cooperation and develop new areas in the multifaceted bilateral partnership.
General Pande said the northern border region has been peaceful and steps have been taken to maintain peace through established protocol and existing mechanism.
Preparing turf for the World Cup, being held for the first time in the Middle East, is environmentally costly. Qatar has also countered the risk of fungus and disease outbreaks with a maintenance regime involving chemical cocktails, grass mowers that vacuum debris and an underground system that sucks excess moisture, said a UEFA pitch consultant.
Biden, while not ruling out the meeting Putin at G20 meet, said that there are conditions attached.
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
India is poised to be the fastest-growing major economy in the world and an engine of global growth despite global headwinds, says leading industrialist and Aditya Birla Group Chairman Kumar Mangalam Birla. The economic activity in India has witnessed a sharp recovery to pre-pandemic levels on the back of a rapid and widespread rollout of the vaccination programme, Birla said in the latest annual report of UltraTech Cement Ltd. "A strong digital ecosystem, fiscal and monetary policy and various government schemes helped small and medium enterprises and the worst affected sections of the population to survive while reviving demand and bringing the economy back on track," said Birla while addressing UltraTech's shareholders.
Virk on Saturday said the state police should have been more prepared to deal with such a situation.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
Electric scooter registrations of eight companies which represent 95 per cent of the market have seen a sharp fall of over 24 per cent in May. They have registered 32,680 electric scooters against 43,098 in April according to VAHAN data from the Ministry of Road Transport and Highways available till the evening of 31 May. Auto analysts say the fall is a reflection of the initial pent up demand in the market for such vehicles,which was evinced in huge bookings, being met.
Pakistan Prime Minister Shehbaz Sharif will take the USD 60 billion China-Pakistan Economic Corridor forward with new vigour, vitality and in a rejuvenated manner, ensuring the multifaceted development of the flagship project of China's ambitious Belt and Road Initiative, a top leader of the ruling PML-N has said.
India will require a total investment of $10.1 trillion to achieve net-zero emissions by 2070, while the nation could face a shortfall of $3.5 trillion, a study by CEEW Centre for Energy Finance (CEEW-CEF) said. At the recently concluded COP26, Prime Minister Narendra Modi announced India's aim to achieve net-zero emissions by 2070. "India would need cumulative investments of $10.1 trillion to achieve net-zero emissions by 2070, according to an independent study released today by the CEEW Centre for Energy Finance (CEEW-CEF)," a statement said.
Each disaster has the same message: Learn to respect the mountains before you build tunnels, roads, and houses, notes Sunita Narain.
Flipkart on Monday said it has entered into a commercial partnership with the Adani group to strengthen logistics and data centre capabilities of the Walmart-owned company and create about 2,500 direct jobs.
Acentral panel directed authorities to ban the plying of 4-wheeled diesel LMVs in Delhi and adjoining NCR districts and the entry of trucks into the capital.
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