Service Between Thiruvananthapuram and Kuala Lumpur Will Be Launched by Air Asia
According to an announcement from the airport, on February 21, AirAsia Berhad will begin offering direct service from Thiruvananthapuram International Airport to Kuala Lumpur, the capital city of Malaysia. AirAsia
Reliance Industries Is in Talks With Disney to Acquire Tata Play Stakes- Business Standard Reports
The Business Standard newspaper stated, citing people close to the situation, that Reliance Industries is allegedly in talks to buy a 29.8% share in Tata Play, a subscription-based satellite TV
With Foxconn’s Al-Powertrain, Kabira Mobility will launch two electric bikes in India
Today, Goa-based electric vehicle startup Kabira Mobility will introduce the KM3000 and KM4000 Mark-II models, which are the company’s second generation of motorbikes. According to the firm, the models are
Before the Bull Run, Peter Thiel’s Founders Fund Invested $200 Million in Crypto
According to insiders, billionaire Peter Thiel’s venture capital firm Founders Fund is once again making bitcoin and ether investments, indicating Silicon Valley’s rekindled interest in the cryptocurrency markets. According to
PM Modi Will Distribute Over 1 Lakh Appointment Letters to Government Recruits Today During Rozgar Mela
On Monday, by video conference, Prime Minister Narendra Modi will hand over one lakh employment letters to recently hired employees in central government ministries. The prime minister will also lay
The Renewable Energy Sector Will Provide 65% of India’s Energy Needs by 2030, According to Union Minister RK Singh
According to Union Minister RK Singh, approximately 44% of India’s energy demand is currently met by non-fossil sources and is expected to rise to 65% by 2030, well exceeding the
Chinese battery giant CATL to be removed from Marine Corps Base by Duke Energy
Under pressure from Congress, U.S. utility company Duke Energy has announced plans to decommission energy-storage batteries manufactured by Chinese battery maker CATL at one of the country’s largest Marine Corps
A Prudent 5G Rollout, a Rural Pick-Up, and Capex Strategy Boost Airtel’s Third Quarter: Analysts
According to market trackers, Bharti Airtel’s capital expenditure strategy—which has been centred on improving rural coverage and a more cautious non-standalone 5G rollout—has allowed the second-largest telecom company to surpass
Paytm Denies Speculation About Jio Financial’s Acquisition of the Paytm Wallet
Paytm has responded to recent rumours that Jio Financial may buy Paytm Wallet, disputing these allegations. The news report that suggested such an acquisition is speculative, unfounded, and factually inaccurate,
USISPF Welcomes India’s Interim Budget as a Statement of Responsible Fiscal Management in an Election Year
An India-centric business advocacy group based in the US has praised Finance Minister Nirmala Sitharaman for her consistency and emphasis on growth in her interim Budget, saying it is a
By 2030, Coal Gasification and Liquefaction of 100 Metric Tons Will Be Completed, Says the Interim Budget
Finance Minister Nirmala Sitharaman announced on Thursday that a 100 metric tonne coal gasification and liquefaction facility will be established by 2030. The government gave its approval in January to
Sitharaman Announces Three Major Rail Corridors and More Vande Bharat Trains in the Railway Budget for 2024
On Thursday, Nirmala Sitharaman, the Finance Minister, announced that almost 40,000 regular bogies will be changed to standard Vande Bharat bogies. She unveiled the interim budget along with the announcement
Government to Support Charging Infrastructure; Expand EV Ecosystem, Says Nirmala Sitharaman in EV Budget 2024
Budget 2024: The government will develop the ecosystem for electric vehicles in order to support charging infrastructure, the Finance Minister stated on Thursday during the announcement of the interim budget.
As Part of the Interim Budget for 2024, 1 Crore Households Will Receive Free Electricity From Rooftop Solar Panels
Interim budget 2024: Finance Minister Nirmala Sitharaman announced during the presentation of the interim budget on Thursday that the government will implement a rooftop solar initiative that will allow one
Disability Sector in India Could Contribute $1 Trillion To Economy By 2047: Indian-American Industrial Leader
By 2047, the nation’s disabled population in India might actively contribute $1 trillion to the GDP of the nation, according to a well-known Indian-American business leader in the field. The
In Germany, Nokia Plans to Invest 360 Million Euros in Software, Hardware, and Chip Design
Nokia, a Finnish manufacturer of telecom equipment, is to invest 360 million euros in Ulm and Nuremberg, Germany, for software, hardware, and chip design. The German states of Baden-Württemberg and
A $5 Billion Green Loan Is Raised by Sweden’s Northvolt for the Expansion of Its Battery Plants
Northvolt, a Swedish manufacturer of lithium-ion batteries, announced on Tuesday that it has raised $5 billion to expand its battery production in northern Sweden. This is the largest green loan
A Toyota Executive Says Solid-State Battery EVs Will Be Available in a Couple of Years
According to a top official of Toyota Motor’s India unit on Thursday, the Japanese automaker Toyota Motor (7203.T) plans to introduce cars with longer-lasting and faster-charging solid-state batteries in the
In a $1 Billion Stake in Tinder’s Owner Match, WSJ, Activist Investor Elliott Is Investing $1 Billion
According to a Wall Street Journal story published on Monday, activist investor Elliott Investment Management has amassed a nearly $1 billion investment in Match Group and intends to pressure the
Sony and Zee Merger : Sony Has Yet to Agree to an Extension of Its Deadline to Create a $10 Billion Media Giant
Sony is waiting to hear the Indian media company’s ideas and how they intend to finalise the last few crucial closing requirements before agreeing to a deadline extension for their
The Goldman Sachs Group Ramps up Its Credit Business in India, Targeting Wealthy Diasporas
Goldman Sachs Group Inc. intends to expand its lending business in India and sees a rising opportunity to target the country’s affluent diaspora as international investors turn their attention from
Why Did SEBI Impose a Fine of $25 Crore on Mukesh Ambani, Reliance Industries? Find Out Why the Order Was Revoked
The Securities Appellate Tribunal (SAT) on Monday overturned the Sebi verdict fining billionaire Mukesh Ambani and his company Reliance Industries Ltd. in connection with the 2007 RPL case, providing a
The OpenAI Board Approached Anthropic CEO Dario Amodei About a Top Job and a Merger, but He Declined
Two sources briefed on the situation claim that the board of directors of OpenAI approached the CEO of competitor business Anthropic about removing head Sam Altman and maybe integrating the
The Malaysian Government Announces a Strategic Collaboration With Google on Skills Development
Google and the Malaysian government today announced a strategic partnership aimed at generating equitable growth possibilities in the rapidly expanding digital economy for a greater number of Malaysians and domestic
The China Methane Reduction Plan Is Expected To Be Released Soon, But May Lack Clear Targets
The strategy to reduce methane output is scheduled to be unveiled “imminently” by China, the world’s largest methane emitter, though it may not include setting precise reduction targets, according to
Kotak Mahindra Bank Has Agreed To Sell 51% Of Its Share In Kotak General Insurance To Zurich For Rs 4,051 Crore
Zurich Insurance Company will purchase the majority of Kotak Mahindra Bank’s subsidiary Kotak Mahindra General Insurance Company for a sum of Rs 4,051 crore. The agreements between Zurich Insurance, Kotak
The US Airlines Support The Aviation Fuel Credit Position Of The Ethanol Industry
A letter supporting a regulatory reform that would facilitate the qualification of sustainable aviation fuel (SAF) derived from corn-based ethanol for government subsidies was sent to the Biden administration on
India’s Third-quarter Gold Consumption Increased By 10% To 210.2 Tons; Pricing Will Play A Crucial Role In Dhanteras Buying
India’s Third-Quarter Gold Consumption Soars According to the World Gold Council (WGC), gold consumption in India, the world’s second-largest consumer of the yellow metal, increased 10% to 210.2 tonnes in
Isha Ambani Launches Rs 8.4 Lakh Crore Fashion Brand With An Eye On Taking On Tata-backed Zudio And Urbanic
One of Mukesh Ambani’s Rs 15.7 trillion Reliance Industries’ best-performing companies is Isha Ambani-led Reliance Retail. In the last three years, Reliance Retail’s net worth has risen, and in the
For Power Transmission And Distribution Business In India And Abroad, L&T Construction Wins “Large” Order
The engineering and construction firm Larsen & Toubro Ltd. said on Monday that it had secured “large” orders for the power transmission and distribution industry in India and abroad during
FedEx Collaborates with iThink Logistics for Cross-border Shipping
Global express transportation and logistics provider FedEx has partnered with tech-driven logistics startup iThink Logistics for cross-border shipment, the company announced on Monday. According to a statement from iThink Logistics,
To Promote Indian Games Globally, Nazara Launches A Game Publishing Platform For Developers
According to corporate papers, online gaming and esports startup Nazara Technologies is introducing Nazara Publishing, a publishing platform enabling developers worldwide to exhibit their games in India. In the next
New CEO of Unilever Outlines Plans for Simplifying Business, Shares Fall
Hein Schumacher, Unilever’s new CEO, unveiled long-awaited measures on Thursday to streamline the company after acknowledging it had underperformed in previous years. Despite this, the company’s shares dropped as some
The Government Introduces Quality Standards For Copper Products, Drums, And Tin Containers
In an effort to decrease the import of subpar items and support homegrown manufacturing, the centre on Monday announced mandatory quality standards for drums, tin containers, and copper products. According
Labour-intensive Goods Made In India To Benefit From FTA With UK; Though Overall Gains Limited: GTRI
According to think tank GTRI, the planned free trade deal between the two nations will assist India’s high quality, labour-intensive products including clothing, footwear, carpets, and cars by eliminating import
Activision Blizzard’s $69 Billion Deal With Microsoft Is Approved By Britain
Microsoft’s proposed $69 billion acquisition of gaming company Activision Blizzard received approval from Britain’s top antitrust watchdog on Friday, clearing the last significant barrier to the transaction’s completion. The Competition
Biden Considers Adding AI Chips Curbs To Chinese Companies Abroad
According to four people with knowledge of the situation, the Biden administration is considering removing a loophole that allows Chinese corporations to acquire American artificial intelligence (AI) chips through overseas
To Strengthen its Enterprise Offerings, Truecaller Acquires Bengaluru-based TrustCheckr
App for caller id and spam protection On October 6, Truecaller said that, in order to improve its enterprise capabilities, it had acquired Bengaluru-based TrustCheckr, a fraud detection service. Despite
TCS Secure Order from Georgia Department of Labor for modernising State’s Unemployment Insurance System
The Georgia Department of Labor (GDOL) has chosen Tata Consultancy Services (TCS) to replace its legacy platform from the 1980s with a scalable cloud-based unemployment insurance system that streamlines the
In Europe, Nokia-Brand Owner HMD Starts Making 5G Smartphones
The first major smartphone manufacturer to produce products in Europe is HMD Global, the licensee of Nokia-branded handsets. Its first 5G model, built in Hungary and marketed at customers concerned with data security, is currently available for purchase.
In September, India’s Manufacturing PMI Fell to 57.5, its Lowest Level in Five Months
Strong demand remained the main driver of manufacturing activity in India even as industrial activity expanded at the slowest rate in five months in September, according to figures from a private poll released on Tuesday.
Factory Activity Returns to Expansion in China as the Economy Stabilises
An official survey released on Saturday revealed that factory activity in China increased in September for the first time in six months, adding to a slew of signs that the world’s second-largest economy has begun to bottom out.
The US will Indefinitely Extend The China Waiver for South Korean Chipmakers – Yonhap
The U.S. Commerce Department has discussed specifics with South Korean chipmakers over which technology may be utilised in China. It also indicated that the U.S. would make similar statements as early as this week.
From 2025, India will Implement Emission Reduction Mandates in Four Sectors and Begin Carbon Trading
In order to connect its economy with the nation’s goal of reducing greenhouse gas emissions, India will set carbon emission reduction objectives for four sectors that rely on fossil fuels, according to two government officials.
Funding in Indian Agritech Startups Fell by 45% Between FY22 and FY23, Report Says
Investments in Indian agritech firms decreased by 45% between the 2021–22 and 2022–23 fiscal years as a result of higher global interest rates and increased investor skepticism amid escalating uncertainties.
In an effort to prevent China from benefiting from $52 billion in funds for chips, the US finalises rules
The U.S. Commerce Department is releasing final regulations on Friday to stop China and other nations that are considered to be a threat to American national security from using subsidies for semiconductor manufacture.
Due to Volatile Market Conditions, Vietnam Internet Firm VNG Delays $150-Million US IPO
Due to unstable market conditions, Vietnamese internet startup VNG Ltd has postponed a $150 million U.S. initial public offering (IPO) until next year, a person with direct knowledge of the situation told Reuters.
VinFast to deliver EVs to Europe this year as China rivals are probed by the EU
As the European Union mulls slapping tariffs on its Chinese rivals, VinFast, a Vietnamese manufacturer of electric vehicles, intends to ship its first EVs to Europe this year after getting regulatory authorization, its chief executive told Reuters on Thursday.
The New Zealand economy is growing faster than expected
New Zealand’s economy expanded more than forecast, supported by a rebound in the services sector. By avoiding a technical recession, the country’s government, which has come under scrutiny for its handling of the economy in the run-up to an election, would benefit.
Joby announces plans to open an air taxi manufacturing facility in Dayton, Ohio
Joby Aviation, a US air taxi company, has selected a location near Dayton, Ohio, as the location where it eventually hopes to produce an electric aircraft that is still in development and needs to obtain certification.
WSJ reported Tesla, Saudi Arabia in early talks about EV factory
Saudi Arabia and Tesla are in talks about establishing a manufacturing facility there as part of the kingdom’s ambitious effort to secure the metals required for electric vehicles and support the diversification of its economy away from oil.
As India pushes local manufacturing, Xiaomi supplier Dixon Tech will open a smartphone plant
Dixon Technologies India Ltd., a supplier to Xiaomi Inc., plans to open a sizable new plant on the outskirts of New Delhi as India encourages Chinese tech companies to work with local assembly partners.
By 2026, Indonesia wants Geely to assist in building homegrown EVs
A top official said on Tuesday that Indonesia has requested Chinese automaker Geely Automotive Holdings (0175.HK) to assist it in developing a domestic electric vehicle by 2025 or 2026, and that the automaker has accepted.
In his Thursday speech, Biden will discuss budget cuts and the government shutdown
President Joe Biden will contrast his “Bidenomics” domestic programs with what the White House has nicknamed “MAGAnomics,” a reference as the two sides continue to argue over the budget and a potential government shutdown looms.
Marvel’s journey from bankruptcy to billions
Marvel was a corporation that had gained in stature throughout the 1960s, 1970s, and 1980s thanks to the frequently outstanding art and storylines in such comics as Fantastic Four and The Amazing Spider-Man, and by the early 1990s, its financial success had peaked.
The UPS CEO says the new labour deal with Teamsters will cost less than $30 billion – CNBC
As the firm works to convince investors that the arrangement is a good one, UPS CEO Carol Tome said that the costs associated with the new Teamsters contract were lower than the “$30 billion in new money” cited by the union.
Mexico’s governor announces $15 billion investment by Tesla and suppliers
In Mexico, a state governor declared on Monday that Tesla (TSLA.O) and its suppliers would invest $15 billion over the following two years in a factory that is still being built, which is triple the amount that Mexican officials had before declared.
In Singapore, GlobalFoundries opens a fabrication plant worth $4 billion
GlobalFoundries, a contract chip manufacturer with its headquarters in the United States, announced Tuesday the opening of its $4 billion expansion manufacturing unit in Singapore, anticipating “growth in demand for essential semiconductor chips.”
BMW will invest $750 million in UK plants to take Mini electric
After years of uncertainty relating to Brexit, Britain’s auto industry received a new boost on Monday when BMW (BMWG.DE) announced it would invest 600 million pounds ($750 million) at its UK plants to convert its iconic Mini brand to all-electric by 2030.
During Biden’s visit, US and Vietnamese firms discuss business; AI and Boeing deals are announced
During U.S. President Joe Biden’s visit to Hanoi, which has seen new AI and Boeing deals, executives from leading U.S. and Vietnamese companies in the semiconductor, IT, and aviation sectors gathered on Monday in an effort to create commercial alliances.
Top US chipmakers and tech firms will attend Vietnam meeting as Joe Biden visits
President Joe Biden will visit Vietnam to strengthen ties, and top American semiconductor and digital giants like Intel, GlobalFoundries, and Google are anticipated to attend a commercial summit in Hanoi on Monday.
Sources say Arm signs up big tech firms for IPOs at $50 billion-$55 billion valuations
Several of Arm Holdings Ltd’s clients have agreed to invest in the chip designer’s initial public offering, including Apple Inc. (AAPL.O), Nvidia Corp. (NVDA.O), Alphabet Inc. (GOOGL.O), and Advanced Micro Devices Inc. (AMD.O).
Reliance Retail is in talks to raise $2.5 billion by September end
Reliance Retail Ventures, owned by Indian billionaire Mukesh Ambani, is in advanced discussions with international investors to raise around $2.5 billion by the end of September in preparation for a prospective stock market listing, according to people familiar with the situation who spoke to Reuters.
Chinese company Gotion High Tech acquires 25% stake in Slovakia’s Inobat EV battery startup
Chinese battery manufacturer Gotion High Tech (002074.SZ) is purchasing a 25% interest in Slovak battery manufacturer Inobat and will provide supply chain and technology support, the firms announced on Thursday.
China’s Nio will launch its first mobile phone in September to boost EV sales
The Chinese manufacturer of electric vehicles Nio announced that it would introduce its first internally produced mobile phone in late September with the goal of enhancing the appeal of its vehicles through better software and connection.
The world’s first 100% ethanol-powered car developed by Toyota was unveiled by Nitin Gadkari
On Tuesday, Nitin Gadkari, the minister of state for roads and highways, showcased a Toyota Innova HyCross ethanol-powered car. This vehicle is reportedly the first electrified flex-fuel BS-VI (Stage-II) vehicle in the world.
Raimondo says economic stability is crucial in US-China relationship
It is “profoundly important” for the two greatest economies in the world to maintain a solid economic relationship, according to U.S. Commerce Secretary Gina Raimondo, who launched negotiations with Chinese government representatives on Monday.
The Chinese carmaker BYD is set to acquire Jabil’s mobility business for $2.2 billion
Chinese manufacturer of electric vehicles BYD Co Ltd announced on Monday that its subsidiary has agreed to purchase Jabil Inc’s mobility business in China for 15.8 billion yuan ($2.17 billion) from the Singaporean branch of the American manufacturing company.
The Chinese company Xpeng is acquiring Didi’s smart EV unit for up to $744 million
The smart electric vehicle (EV) division of the world’s largest ride-hailing firm, Didi, will be acquired by the Chinese electric car startup Xpeng (9868. HK), according to the announcement. The two businesses will also establish a strategic alliance.
Oil companies sue US over changes to the Gulf auction intended to protect whales
The Biden administration was sued on Thursday for its choice to withhold land from an upcoming sale of oil and gas leases in the Gulf of Mexico in order to protect an endangered whale. The lawsuit was brought by a trade association for the oil and gas industry, the state of Louisiana, and Chevron.
With record results and a $25 billion buyback, Nvidia adds jet fuel to AI optimism
The demand for Nvidia’s processors was greatly surpassed by its quarterly revenue prediction on Wednesday, and the company also announced it will repurchase $25 billion worth of stock, sending its shares surging after hours.
Goldman Sachs Group sees India IT growth picking up in the medium term; coverage begins
According to Goldman Sachs, the pent-up demand for IT services and the effects of using generative artificial intelligence (AI) technology are driving revenue growth for Indian IT industry enterprises. Even
Multiple US banks were downgraded by S&P because of ‘tough’ operating conditions
Following a similar decision by Moody’s, S&P Global reduced credit ratings and downgraded outlooks for a number of U.S. banks on Monday, warning that funding problems and declining profitability will probably put the sector’s credit strength to the test.
BostonGene: AI-based molecular and immune profiling for treatment selection
BostonGene enters the scene. This US-based biotechnology firm carries out studies and clinical trials and has created cutting-edge biomedical software to analyze patients for cancer and assist in recommending the best course of therapy.
New Boeing China president appointed amid Sino-US tensions
As the aircraft manufacturer struggles with a lack of American imports into the important aviation market, Boeing (BA.N) named Alvin Liu head of its China branch on Wednesday. Liu is a Chinese-born representative who was recently hired by the auto industry.
Startups from Israel flock to the US amid domestic uncertainty
With the help of wealthy American investors, pro-business regulations, and an additional impetus from a planned judicial reform at home that has alarmed investors, an increasing number of Tech Startups from Israel are incorporated in the United States.
Chinese and US yield gaps widen to the highest since 2007 after a surprise cut
On Wednesday, investors predicted that China’s central bank would loosen monetary policy further after a surprise rate cut, even if it puts the yuan under pressure. As a result, yield differentials between China and the US extended to their largest level in 16 years.
Developing innovative, small-molecule therapeutics using Biosplice Therapeutics
Biosplice Therapeutics is one such established startup with a global presence. By doing research and creating medications for osteoarthritis, cancer, neurology, and other degenerative conditions, it has grown into the most valuable US-based startup in the world.
Blockdaemon: The leading blockchain application infrastructure provider
The largest independent blockchain node infrastructure, Blockdaemon, enables companies to create, scale, and stake nodes with institutional-grade security and monitoring. The business serves more than 40 cutting-edge blockchain networks on bare metal and in the cloud. To link commercial stakeholders to blockchains, the platform is commonly used by exchanges, custodians, financial institutions, cryptocurrency platforms, and developers.
Clean energy supply chains are at risk of overconcentration, warns Yellen
U.S. Treasury Secretary Janet Yellen stated in prepared remarks for an event in Las Vegas on Monday that the country is working to create robust, diversified clean energy supply chains to safeguard its economic security while avoiding the risks presented by over-concentration in a small number of nations.
After rejecting Cleveland-Cliffs’ $7.3 billion offer, U.S. Steel explores alternatives
After turning down a takeover bid from competing steelmaker Cleveland-Cliffs Inc (CLF.N), United States Steel Corp (X.N) on Sunday formally reviewed its strategic options. U.S. Steel was valued at nearly
U.S. awards $1.2 billion to Oxy and Climeworks for carbon air capture hubs
The U.S. Department of Energy said on Friday that projects in Texas and Louisiana will receive over $1 billion in federal subsidies to remove more than 2 million tonnes of carbon emissions, which is an important step in scaling up direct air capture (DAC) technology.
China to replace $140 billion in LGFV debt with local bonds
In order to pay off the debt of local-government financing vehicles (LGFVs) and other off-balance-sheet issuers, China will let local governments raise approximately 1 trillion yuan ($140 billion) through bond sales, according to a Friday report by Bloomberg News.
WeWork shares are near zero after the bankruptcy warning after once worth $47 billion
Shares of WeWork (WE.N) were close to zero on Wednesday as the once-favorite startup warned it might file for bankruptcy, a remarkable turn of events for a business that was once valued at $47 billion in the private market.
White House to unveil plans restricting some US investments in China, Sources
A senior government source told Reuters that the White House would outline its proposals on Wednesday to forbid some US investments in sensitive technology in China and demand that the government be notified of other transactions.
U.S. to deliver $200 million in arms to Kyiv following $6.2 billion accounting error
As it starts to disperse the $6.2 billion in funds discovered after a Pentagon accounting error overvalued billions of dollars in Ukraine aid, President Joe Biden’s administration will announce $200 million in additional weapons aid for Ukraine as soon as Tuesday, U.S. officials told Reuters.
Over $10 billion was deposited in Apple’s high-yield savings accounts
The iPhone manufacturer estimated the entire amount of deposits at around $10 billion in a news release on Wednesday. According to Apple, that money accumulated throughout the roughly 3.5 months that Apple Card customers had the option of opening them.
For its September IPO, SoftBank’s Arm targets a valuation of $60 billion or more
Sources claim that Arm Ltd. a division of SoftBank Group Corp. that specialises in semiconductors, plans to go public as early as September with a valuation of $60 billion to $70 billion, signalling a bright outlook for chips including artificial intelligence.
The Wall Street Journal reports that US trucking company Yellow has shut down operations
The Teamsters Union announced on Sunday that cash-strapped US trucking company Yellow Corp (YELL.O) has suspended operations and is declaring bankruptcy after failing to restructure and refinance more than a billion dollars in debt.
BYD tells India partner it wants to drop $1 billion EV investment plan according to sources
Following scrutiny from New Delhi over its investment proposal, China’s BYD informed its India joint venture partner that it would abandon plans for a new $1 billion investment to produce electric automobiles.
The U.S. chipmaker AMD plans to make $400 million in investments in India by 2028
The American chipmaker Advanced Micro Devices announced on Friday that it will spend $400 million in India over the following five years and that Bengaluru will become the site of its largest design facility.
Preferred capital issuance by US banks makes a tentative comeback
Just as interest rates on an estimated $120 billion in such instruments are ready to reset to much higher levels, investor interest in a type of debt issued largely by banks to increase their capital is beginning to show early signs of recovery.
Automakers launch US EV charging network to compete with Tesla
In an effort to compete with Tesla (TSLA.O) and to benefit from Biden administration subsidies, seven major automakers announced on Wednesday that they were establishing a new company to provide electric vehicle charging in the United States.
US regulators to unveil plan to build cash reserves for banks
Regulators in the United States are preparing to draft a rule that will likely dramatically increase the capital requirements for larger banks, requiring them to reduce expenses and hold onto profits in an effort to protect against future losses that would affect clients and investors.
TSMC invests $2.9 billion in Taiwan chip factory due to AI boom
Taiwanese chip giant TSMC (2330. TW), driven by a boom in demand for artificial intelligence, plans to invest roughly T$90 billion ($2.87 billion) in an advanced packaging facility in northern Taiwan, the company announced on Tuesday.
Bankman-Fried, others sued by FTX for $1 billion in recoupment
Sam Bankman-Fried, the exchange’s founder, and several former executives were sued by FTX Trading on Thursday in an effort to recover more than $1 billion that they are believed to have stolen from the company prior to its bankruptcy.
US regulators unveil antitrust plan targeting big tech
On Wednesday, U.S. regulators released rules on the types of mergers and acquisitions to which they object, reiterating the cautiousness with which President Joe Biden’s administration has treated numerous transactions, particularly in the technology industry.
More than $1 billion is spent by Wall Street banks on severance costs amid sharp job cuts
During the first half of 2023, the largest US banks spent more than $1 billion on severance payments, highlighting the high cost of winding down Wall Street’s excessive expansion during the coronavirus pandemic.
The US Fed is set to launch a long-awaited instant payment system and modernize the system
The US Fed will soon begin offering a long-awaited service that aims to update the nation’s financial infrastructure by eventually enabling regular Americans to send and receive money in seconds, around the clock, seven days a week.
The construction of VinFast’s US factory will begin next week
VinFast, a Vietnamese manufacturer, announced on Wednesday that it would begin building a $4 billion electric vehicle factory in North Carolina the next week as part of its effort to increase its presence in the American market.
Improved panel supplies stabilize US solar contract prices: report
US solar contract costs experienced their first quarterly fall in more than three years as difficulties sourcing panel supplies eased and projects enjoyed strong demand associated with President Joe Biden’s historic climate change measure.
China AI Chip Company Seeks IPO in Hong Kong in 2023
Shanghai Biren Intelligent Technology Co., a startup in the Chinese semiconductor industry, is reportedly exploring an IPO in Hong Kong as early as this year in order to cash in on a surge of local customers switching to its AI chips as an alternative to Nvidia Corp. silicon that has been outlawed.
India and Indonesia plan to trade local currencies and link up for fast payments
In order to promote cross-border financial transfers, India and Indonesia intend to settle bilateral transactions s in local currencies and connect their quick payment systems, according to a top Indian government official.
U.S. and India working on a platform to speed up energy transition: Janet Yellen
According to U.S. Treasury Secretary Janet Yellen, the two countries are collaborating to create an investment platform to cut the cost of capital and boost private investment in order to accelerate India’s energy transition.
The US House passes a defense spending bill that authorizes record spending
The U.S. House of Representatives passed its version of a comprehensive measure establishing policy for the Department of Defense on Friday, but the likelihood that the “must-pass” legislation would actually become law was in doubt since Republicans added many racially conservative amendments.
In the last 10 quarters, institutional investments in the office sector reached $1.8 billion
In Q2 2023, institutional investments in the office sector reached $1.8 billion, the highest level over the previous 10 quarters, indicating continued investor confidence in the sector’s prospects for development and return.
KPMG will invest $2 Billion in AI and Cloud Services
Through expanded cooperation with Microsoft, KPMG aims to invest $2 billion in artificial intelligence and cloud services across its business lines internationally over the next five years, the latest effort by a Big Four accounting firm to double down on the technologies.
Big US banks report largest jump since the pandemic in loan losses
As rising interest rates put increasing pressure on consumers throughout the economy, the leading US banks are expected to disclose this week the highest increase in loan losses since the start of the coronavirus outbreak.
Battery Smart has raised $33 million in funding from Tiger Global, Blume Ventures, and others
In a pre-Series B investment round, Battery Smart has secured $33 million. The startup’s existing backers Tiger Global and Blume Ventures, as well as new investors The Ecosystem Integrity Fund (EIF) and British International Investment (BII), participated in the round.
The Indian Institute of Technology will open its first overseas campus in Tanzania
Tanzania’s Zanzibar will be home to the first Indian Institute of Technology campus to be established outside of India. In the presence of Dr Hussein Ali Mwinyi, President of Zanzibar, and Dr S. Jaishankar, Minister of External Affairs, a Memorandum of Understanding (MoU) for the establishment of an IIT Madras campus in Zanzibar, Tanzania, was signed on Thursday between the Ministry of Education (MoE), IIT Madras, and the Ministry of Education and Vocational Training (MoEVT), Zanzibar, Tanzania.
The Chennai-based company Kaar Technologies has raised $30 million from A91 Partners
Despite an overall investment downturn in the startup sector, business-to-business (B2B) software consultant Kaar Technologies raised over $30 million in its most recent funding round, which was headed by A91 Partners.
By 2023, India will be the largest wearables market
In 2023, India’s wearables market is predicted to overtake China as the largest in the world, supporting demand for smartwatches and other wearables at a time when North America and China are beginning to show symptoms of saturation due to macroeconomic headwinds.
According to Microsoft CEO Satya Nadella, exclusive Activision games make no strategic sense
On Wednesday, Microsoft CEO Satya Nadella said that keeping Activision games exclusive would “make no strategic sense” in response to antitrust worries that a proposed $69 billion merger of the two companies would unjustly consolidate power.
India is preparing for multi-billion dollar battery subsidies
According to a proposal seen by the Financial Times, the Indian government is putting together a brand-new, multibillion-dollar battery subsidy programme for businesses that produce electricity grid batteries as they work to speed up the country’s switch to sustainable energy.
Swiggy’s gross merchandise value increases to $2.6 billion in FY23: Prosus
According to its largest investor, Prosus, food and grocery delivery giant Swiggy’s gross merchandise value (GMV) only increased a little, from $2.3 billion in FY22 to $2.6 billion in FY2023—a gain of just about 13 percent.
The Amara Raja Infra Group secures a $130 million solar project in Bangladesh
A new solar project has been secured in Bangladesh by Amara Raja Infra Private Limited (ARIPL), a company that is a component of the $1.75 billion Amara Raja Group. This project represents ARIPL’s debut in the global solar market and a new turning point for the business.
TCS partners with Standard Life Partners to enhance the customer experience for European policyholders
Standard Life International DAC (SLIDAC), a division of the Phoenix Group, and Tata Consultancy Services (TCS) declared on June 26 that they will work together to improve the customer experience for policyholders in Europe and the operational model of the latter.
Japan increases efforts to strengthen its chip industry
The board of semiconductor materials manufacturer JSR Corp. will meet on Monday to talk about a potential multi-billion-dollar acquisition by a government-backed fund, which would speed up Japan’s ambitions to bolster its chip industry.
Infosys signs $454 million partnership with Danske Bank for digital transformation
A $454 million contract for the digital transformation of Denmark’s Danske Bank has been won by Infosys, the business announced on June 26. Infosys is the latest IT services company to land a large contract amid a downturn in the industry.
The first opportunity fund raised by Blume Ventures closes at $25 million
The new opportunity fund of early-stage venture capital company Blume Ventures has made its first closing at Rs 200 crore (about $25 million), or almost half of the total amount it aims to raise by the end of August.
In FY24, LTIMindtree plans to invest $40-50 million in AI capabilities
According to a senior corporate official, LTIMindtree intends to invest $40–50 million in artificial intelligence (AI) capabilities and services during the current fiscal year in order to establish a consistent revenue stream from the rapidly developing technology.
RBI approves the request of RIL to retain $2 billion from lenders
The Reserve Bank of India (RBI) has given Reliance Industries, the largest firm in the nation by market value, permission to keep $2 billion in addition to the $3 billion it raised in the previous fiscal year under the largest syndicated credit facility in years.
Up to 48% of MG Motor India is likely to be acquired by Sajjan Jindal
According to a report in The Economic Times (ET), industrialist Sajjan Jindal intends to acquire stock in MG Motor India. The Chinese automaker SAIC Motor owns 100% of the subsidiary MG Motor India. According to the article, the joint venture will not have any impact on the listed companies of the Jindal group: JSW Steel and JSW Energy.
Indifi Technologies raise $35 million to expand digital lending to small businesses
Indifi Technologies, an Indian startup that provides digital lending to small and medium-sized enterprises, has raised $35 million in a new funding round that was spearheaded by ICICI Venture, the investment arm of ICICI Bank.
Toyota unveils new battery technology and EV innovations
Toyota Motor stated it would implement high-performance, solid-state batteries as well as other technologies to increase the efficiency and performance of its electric vehicles while lowering their price.
The Japanese automaker Toyota Motor declared that it plans to introduce next-generation batteries starting in 2026, hoping to win over buyers with cars that have greater driving ranges and faster charging periods.
The Saudi Arabian government signs an agreement with the Chinese electric vehicle company Human Horizons worth $5.6 billion
According to a statement from the Saudi state news agency, the Saudi Arabian government has agreed to a $5.6 billion partnership with Chinese electric vehicle manufacturer Human Horizons to work together on the design, production, and marketing of automobiles.
Toyota will invest $328 million in a hybrid pickup plant in Mexico
Toyota, a Japanese automaker, announced on Thursday that it would increase its investment in a facility in the state of Guanajuato, central Mexico, by $328 million as it tries to modify its manufacturing procedures for a new hybrid version of its Tacoma pickup vehicle.
Revenue forecast for SaaS startups plunges 74% to $26 billion by 2026
In their most recent annual study on the industry, global management consulting and strategic advisory firm Zinnov and venture capital firm Chiratae Ventures reduced the 2026 revenue forecasts of Indian software-as-a-service or SaaS startups from $100 billion to $26 billion.
The Tata Group is India’s most valuable brand, valued at $26.4 billion
According to research by Brand Finance, the multi-industry conglomerate Tata Group, which produces everything from salt to software, has maintained its title as India’s most valuable brand and has surpassed the $25 billion threshold. The worldwide brand value consultancy performs this task each year. Infosys, a significant player in the IT industry, is still in second place.
A report says UBS will takeover Credit Suisse by June 12 and oversee $5 trillion worth of assets
On Monday, the Swiss international investment bank UBS announced that it would purchase Credit Suisse “as soon as June 12.” Following a government-backed rescue earlier this year, this takeover would result in a massive balance sheet of $1.6 trillion.
Indian hospitality investments to exceed $2.3 billion over the next two to five years: CBRE
According to the first-ever hospitality study published by real estate consulting firm CBRE South Asia, Indian hospitality investments are probably going to reach $2.3 billion over the next two to
By 2025, Boomitra aims to provide $200 million in carbon financing to farmers and ranchers in developing nations
By 2025, a global marketplace for soil carbon, developed by an entrepreneur from Karnataka Boomitra, would provide USD 200 million in carbon finance to farmers and ranchers in developing nations
The front-end DevTools startup Locofy.ai has raised $4.25 million
In its second seed-stage fundraising round, Northstar Ventures, a private equity firm supported by TPG Capital, raised $4.25 million for Locofy.ai, a front-end development acceleration platform that employs artificial intelligence
The WestBridge Group is close to investing Rs 800 crore in Milky Mist at a valuation of nearly Rs 7,000 crore
According to insiders, a deal to buy a minority position in the dairy products company Milky Mist, based in Tamil Nadu, is about to be finalized by India-focused investment vehicle
