Representative Image MEXICO CITY: Mexican automotive production and exports tumbled in February, data from the national statistics agency (INEGI) showed on Friday, hit by temporary closures of factories due to bad weather and a global semiconductor chip shortage. Auto output plunged 28.85% from February 2020 to 238,868 units, the figures showed, while auto exports declined… Continue reading Mexico auto output dives in February amid bad weather, chip shortages
Author: Economic Times of India Online News
Shrem Group files for Rs 600 crore InvIT IPO
New Delhi: Shrem Group has filed for a Rs 600 crore initial public offering of its infrastructure investment trust (InvIT), according to people aware of the matter. The group promoted by the Chhatwal brothers operates Fairmont hotels in India and is a shareholder in Mumbai’s Nanavati Hospital. It acquired 24 road assets from Dilip Buildcon… Continue reading Shrem Group files for Rs 600 crore InvIT IPO
Elon Musk loses $27 billion as historic wealth gains unravel
By Devon PendletonElon Musk set records last year for one of the fastest streaks of wealth accumulation in history. The reversal is underway, and it’s steep. The Tesla Inc. chief executive officer lost $27 billion since Monday as shares of the automaker tumbled in the selloff of tech stocks. His $156.9 billion net worth still… Continue reading Elon Musk loses $27 billion as historic wealth gains unravel
Mega steel plant to bring new wave of economic development, create jobs in Odisha: Dharmendra Pradhan
Union minister Dharmendra Pradhan on Friday said the Rs 50,000 crore integrated steel plant in Odisha will bring a new wave of economic development and employment generation in the state and will give boost to Prime Minister Narendra Modi’s vision of Aatmanirbhar Bharat. Pradhan also congratulated ArcelorMittal-Nippon Steel India and the Odisha government for signing… Continue reading Mega steel plant to bring new wave of economic development, create jobs in Odisha: Dharmendra Pradhan
Infrastructure majors evince interest in BOT projects in West Bengal after Highways ministry tweaks model
Four major infrastructure companies, including IRB Infra and Adani Road Transport Ltd, have expressed interest in two projects in West Bengal that are proposed to be built on the Build-Operate-Transfer model. The companies participated in the technical bidding round which opened on Friday, a person familiar with the development told ET. “Four companies including IRB,… Continue reading Infrastructure majors evince interest in BOT projects in West Bengal after Highways ministry tweaks model
Production incentive schemes to increase India’s manufacturing output by $520 billion: PM Modi
NEW DELHI: Prime Minister Narendra Modi said on Friday that production-linked incentive (PLI) schemes, aimed at boosting domestic manufacturing and exports under the ‘Make in India’ and Atmanirbhar Bharat programme, are expected to increase India’s manufacturing output by over half a trillion dollars over the next five years across sectors such as electronics, pharmaceuticals, automobiles… Continue reading Production incentive schemes to increase India’s manufacturing output by $520 billion: PM Modi
NHAI introduces AI-based face recognition system for attendance monitoring
NHAI recently announced changes to the model concession agreement for such projects, to garner a better response from the industry. New Delhi: In line with its commitment to adopt technology to enhance transparency and accountability, National Highways Authority of India (NHAI) has deployed artificial intelligence (AI)-based face recognition system for attendance monitoring of the field… Continue reading NHAI introduces AI-based face recognition system for attendance monitoring
Entire fiscal stimulus to be funded by borrowing, revenues; not taking money from people: FM
Finance Minister Nirmala Sitharaman on Friday said the entire fiscal stimulus announced by the government would be funded by borrowings and revenues, and taxpayers will not be charged even a single penny. “I am not expecting the stimulus to be funded by taxpayers. Not a rupee from the taxpayer. The entire amount …. is shown… Continue reading Entire fiscal stimulus to be funded by borrowing, revenues; not taking money from people: FM
Mumbai: Up to 4% dip in electricity rates; e-vehicle charging also cheaper
The drop will be a relief to many residential, commercial and industrial users who were financially hit in the Covid-19 lockdown. Pending power bill payments today amount to over Rs 45,000 crore across the state, said sources. MUMBAI: The overall electricity tariff across power utilities in the city will either remain unchanged or decrease up… Continue reading Mumbai: Up to 4% dip in electricity rates; e-vehicle charging also cheaper
Gahlot seeks participation of RWAs, MLAs to encourage people in Delhi adopt electric vehicles
Gahlot urged MLA’s to interact with residents of RWAs in their respective constituencies about EVs and sensitize them by organising door-to-door campaign and street-corner meetings. New Delhi: Transport minister Kailash Gahlot on Friday sought the participation of RWAs and MLAs in the ongoing ‘Switch Delhi‘ campaign aimed at encouraging people to adopt electric vehicles to… Continue reading Gahlot seeks participation of RWAs, MLAs to encourage people in Delhi adopt electric vehicles