The EIB has supported long-term investment across India that has helped the country harness renewable energy, strengthened industry and reduced carbon emissions.
Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim's stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The Adani family, through an offshore special-purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Holcim Ltd's entire stake in two of India's leading cement companies -- Ambuja Cements and ACC -- the Adani group said in a statement. The group outbid Ultratech and JSW group to enter the cement industry and also emerge as the country's second-largest cement manufacturer, with 70 million tonnes of capacity annually.
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.
Pirelli, whose tyres caused controversy last year when they had to be redesigned after a spate of blowouts, also announced changes to the sporting regulations that will allow them more testing time.
Amid the political spat, the Ministry of Earth Sciences (MoES) lent its weight to the prime minister's suggestion, noting that the idea of using wind turbines in generating water from moisture in air and separating oxygen from air is technically feasible.
Modi hopes to attract funds and skills from U.S. innovators to help India's burgeoning startup scene grow.
SREI International Finance has roped in BIO of Belgium for a Rs 25 crore (Rs 250 million) investment for funding of infrastructure equipment and renewable energy products.
Goa, Uttarakhand and Meghalaya will initiate schemes to enable 24x7 power to consumers.
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.
Rs 5,000 crore additional liquidity facility to be provided by the National Housing Bank to boost liquidity in housing sector, the RBI said.
So far at least eight incidents of EV fires have been reported in just over a month's time.
New-generation Yes Bank is in talks with Asian Development Bank for Rs 100 crore (Rs 1 billion) debt.
'It is high time that we act instead of just talking about how and why the climate is changing.'
A total of 16 secretaries have been appointed to various central government departments.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The project is the largest investment undertaken by any private sector entity in CSP in India.
Tata Trusts is one of India's oldest, non-sectarian philanthropic organisations involved in areas of community development.
Even as India goes green, lack of uniform standards for setting up charging stations is holding back companies. Alnoor Peermohamed reports.
The Bombay high court on Friday heard prosecution and defence arguments on the applications of former ICICI Bank CEO and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest by the Central Bureau of Investigation (CBI) in an alleged loan fraud case, and reserved its verdict which will be delivered on Monday. The Kochhars, along with Videocon group founder Venugopal Dhoot, were arrested by the CBI late last month for their alleged roles in the case and the trio is currently in jail under judicial custody. The Kochhar couple has termed their arrest as "illegal" on the ground that no sanction was obtained prior to the CBI action as required under provisions of the Prevention of Corruption Act (PCA).
After his wide-ranging talks with Modi on the second and final day of his India visit, Johnson said the new defence and security partnership will enable India to strengthen its domestic defence industry as well as help the two countries protect vital shared interests in the Indo-Pacific.
Kalrock Capital-Murari Lal Jalan combine has emerged as the frontrunner. A consortium of Imperial Capital and FSTC is the other bidder.
Crisil Ratings on Wednesday said a broad-based recovery is on for India Inc currently, and upgraded its credit quality outlook to 'positive' from the earlier 'cautiously optimistic'. The rating agency said the credit ratio, which illustrates the number of upgrades to downgrades, rose to over 2.5 times in the first four months of the fiscal, as compared to 1.33 times in the second half of FY21, it said in a statement. The rating agency said it has also done a study of 43 sectors, excluding the financial sector, accounting for 75 per cent of the overall Rs 36 lakh crore in outstanding debt, which shows that the current recovery is broad-based.
'We plan to add over 100,000 square kilometres every year, to reach an ambitious target of 500,000 square kilometres by 2025.'
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
Tiwari had filed the PIL seeking stay on the proceedings for recovery of loans given by Indian Renewable Energy Development Agency Limited to Sheetal Fuel Pvt Ltd and B S Fuel Pvt Ltd.
The leaders said trade ties were still fragile
'This is still a relatively immature defense and high-tech relationship.'
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
Prime Minister Narendra Modi on Wednesday launched a Rs 100 lakh crore national master plan for multi-modal connectivity that aims to develop infrastructure to reduce logistic costs and boost the economy. PM Gati Shakti targets to cut logistic costs, increase cargo handling capacity and reduce the turnaround time, Modi said at a function to launch the plan. The plan aims to lend more power and speed to projects by connecting all concerned departments on one platform, he said, adding the infrastructure schemes of various ministries and state governments will be designed and executed with a common vision.
India has made 7,000 reforms for attracting foreign direct investment in various sectors including real estate and defence: Modi.
The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay high court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, arrested by the CBI on December 26, 2022, and presently in judicial custody, has moved the high court seeking to quash the First Information Report, and has also sought interim bail.
In India, air pollution is most severe in the Indo-Gangetic Plain (northern India), where topography and meteorology concentrate pollution from energy, mobility, industry, agriculture, and other activities, the researchers said.
The Bombay high court on Monday granted bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case, saying their arrest was not in accordance with the provisions of law. A division bench of Justices Revati Mohite Dere and P K Chavan held that the arrest of Kochhars was in violation of Section 41A of the Code of Criminal Procedure (CrPC), which mandates sending notice for appearance before the police officer concerned. The couple was arrested by the Central Bureau of Investigation (CBI) on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
Foreign flows into Indian equities are expected to pause in the short to medium term, say analysts. The outlook is influenced by multiple factors, including rising oil prices, actions from global central banks, climbing bond yields, and the dollar index gaining prominence. "Valuations appear rich with the markets at record highs.
'There is merit in appointing people with ability and energy, then leaving them to do the job.' 'The Modi government would have had a better record if it had stuck to this formula from the beginning,' argues T N Ninan.
Virat Kohli, who has given up the RCB captaincy, was retained along with Australian all-rounder Glenn Maxwell and young pace bowler Mohammed Siraj.
In a major jolt to India's solar energy programme, the Rajasthan government might cancel the 4,000-Mw solar UMPP (ultra mega power project), which was expected to come up near Sambhar Lake.
"Climate change is a major global challenge. But it is not of our making," Modi said.
He further said Sidhu's resignation has been forwarded to Punjab Governor V P Singh Badnore.
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