Maharashtra state has obtained Rs 21, 500 crore worth of funding commitments from lenders for a road project near Mumbai, according to people familiar with the matter. Maharashtra State Road Development Corporation Ltd., a unit of the state government, has obtained lenders’ commitment for credit lines to fund building the high-end road, said the people,… Continue reading Maharashtra secures Rs 21,500 crore funding for Mumbai Road Project
Author: Economic Times of India Online News
Musk calls on US to quit NATO, stop paying for defence of Europe
Under a 2023 law, a president can’t unilaterally withdraw from the alliance without a two-thirds supermajority in the Senate or an act of Congress. Billionaire Elon Musk threw his weight behind a US exit from NATO, saying on his social media platform that it “doesn’t make sense for America to pay for the defense of… Continue reading Musk calls on US to quit NATO, stop paying for defence of Europe
Rupee slumps on strong demand to buy dollars at daily fix, weak yuan
The dollar index has fallen more than 3% in March so far. The Indian rupee weakened on Monday on the back of strong demand to buy dollars at the daily reference rate and as the Chinese yuan slipped amid worries about the country’s economy and a global trade war. The rupee declined 0.4% to 87.26… Continue reading Rupee slumps on strong demand to buy dollars at daily fix, weak yuan
US tariff imposition to hit pharma segment; auto sector likely to face minimal impact
“There can be some impact, especially for the automotive components market.” Enhanced tariffs on pharma imports in the US can severely impact Indian drug manufacturers as it would lead to higher production costs, making shipments less competitive against products from other countries. Smaller drug firms operating on thin margins can face severe pressure potentially forcing… Continue reading US tariff imposition to hit pharma segment; auto sector likely to face minimal impact
India, EU to hold next round of FTA talks from Monday amid Trump tariff threats
India exported USD 76 billion in goods and USD 30 billion in services to the EU. India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus… Continue reading India, EU to hold next round of FTA talks from Monday amid Trump tariff threats
Rich Chinese investors seen buying into Elon Musk’s companies
Musk has long had contact with senior Chinese officials, including President Xi Jinping. Wealthy Chinese investors are funneling tens of millions of dollars into private companies controlled by billionaire Elon Musk, using an arrangement that shields their identities from public view, the Financial Times reported on Sunday. The investments are being placed through special-purpose vehicles… Continue reading Rich Chinese investors seen buying into Elon Musk’s companies
Ola Electric stores see raids, seizures on flouting India rules
The widespread store-level non-compliance comes on the back of rising pressure to boost scooter sales and plummeting share price. Ola Electric Mobility‘s rapid expansion into brick-and-mortar showrooms is running into regulatory trouble. The Bengaluru-based electric scooter maker, once a champion of the digital-only sales model, recently scaled up to 4,000 physical locations since 2022. A… Continue reading Ola Electric stores see raids, seizures on flouting India rules
Women as changemakers: How are they changing the automotive industry?
Additionally, women place high importance on connected features such as real-time parking assistance, infotainment applications, and OEM support during emergencies For as long as we can remember, the automotive industry has perpetuated stereotypes, shaping narratives around women and cars. Clichés like “women can’t drive as well as men” or “women can’t parallel park” have persisted.… Continue reading Women as changemakers: How are they changing the automotive industry?
JSW Energy completes KSK Mahanadi buyout ahead of May deadline
This acquisition is JSW Energy’s third major power sector acquisition. JSW Energy has completed the payment of Rs 16,084 crore to creditors of the 1800 MW KSK Mahanadi thermal power company, implementing the resolution plan way ahead of its May end deadline. Banks and asset reconstruction companies received the cash earlier on Friday morning, after… Continue reading JSW Energy completes KSK Mahanadi buyout ahead of May deadline
Electric passenger vehicle retail sales rise 19% in February
Electric passenger vehicles recorded a 18.95 per cent year-on-year increase. Electric passenger vehicle retail sales rose 19 per cent in February to 8,968 units with Tata Motors retaining the top slot in the segment, as per data released by dealers’ body FADA. The total electric passenger vehicle retail sales stood at 7,539 units in the… Continue reading Electric passenger vehicle retail sales rise 19% in February