The rupee was at 83.53 against the U.S. dollar as of 10:00 a.m. IST, little changed compared to its close at 83.5425 in the previous session. The Indian rupee was nearly unchanged on Friday as expectations that the central bank would guard against a fall to the currency’s all-time low countered weakness in most Asian… Continue reading Rupee little changed; cenbank intervention expectations blunt drop in Asia FX
Author: Economic Times of India Online News
Road contractors relieved from developing wayside amenities
Under the existing provision, a highway contractor or concessionaire is responsible for developing WSAs, placing an additional responsibility on contractors to build, run and maintain such facilities. New Delhi: The National Highways Authority of India (NHAI) has scrapped the requirement for developing wayside amenities along new highways and expressways by road contractors and concessionaires. Instead,… Continue reading Road contractors relieved from developing wayside amenities
Largest US oil trade group to sue to block Biden’s EV push
In the final rule, Biden slashed its target for electric vehicle adoption amid auto worker backlash, but the watering down of the measure did little to pacify an oil industry that needs gas-powered cars to survive. The nation’s largest oil trade group, which includes Exxon Mobil and Chevron, will file a federal lawsuit on Thursday… Continue reading Largest US oil trade group to sue to block Biden’s EV push
Indian steel producers worry as weak domestic demand and Chinese dumping depress prices further
“India’s share of steel exports to the UAE has declined to 6.9% in FY24 from 10.4% in FY23,” said Sumit Jhunjhunwala, Assistant Vice President & Sector Head-Corporate Ratings, ICRA Limited. Domestic steel makers are facing a double whammy of weak local demand coupled with a slowdown in Chinese real estate putting pressure on exports. Besides… Continue reading Indian steel producers worry as weak domestic demand and Chinese dumping depress prices further
German industry, policymakers urge patience on hydrogen conversion
If Germany does not manage the move to hydrogen, it will weaken the entire bloc’s chances of adopting it and competing successfully with the United States and China. Investor caution about hydrogen as a future source of energy to reduce emissions of greenhouse gases did not suggest slowing resolve to phase out fossil fuels, German… Continue reading German industry, policymakers urge patience on hydrogen conversion
International Road Federation calls for reducing GST on helmets from 18% to nil
“This in turn will assist, not only in reducing road accident fatalities of 2W riders, but will also help in reducing the whooping GDP loss due to road accidents to our economy,” Kapila said. The International Road Federation (IRF), a Geneva-based global road safety body, has urged the Goods & Service Tax (GST) council and… Continue reading International Road Federation calls for reducing GST on helmets from 18% to nil
Mahindra Group’s strategic focus on business expansion
Updated On Jun 13, 2024 at 07:56 AM IST Read by: 100 Industry Professionals Read by 100 Industry Professionals Mahindra Group CEO and MD Anish Shah New Delhi: Farm equipment to aerostructure conglomerate Mahindra Group will focus on delivering scale with its businesses that it ‘believes’ will cover 70% of India’s growth over the next… Continue reading Mahindra Group’s strategic focus on business expansion
Statiq partners with Hyundai, ChargeMOD and GLIDA to reform charging sector
Under a ‘Strategic’ agreement, chargers from these partner CPOs will be seamlessly integrated into the Statiq app. New Delhi: Statiq, a leading network for EV charging, has teamed up with top Charge Point Operators (CPOs) like Hyundai, ChargeMOD, and GLIDA to enhance the EV charging sector through interoperability in India. This collaboration means users can… Continue reading Statiq partners with Hyundai, ChargeMOD and GLIDA to reform charging sector
China warns EU tariffs on EVs would ‘harm’ Europe’s interests
China is the world’s biggest car exporter and Europe is a critical market. China warned Wednesday that expected additional EU tariffs on imports of Chinese electric vehicles would “harm Europe’s own interests” and condemned the bloc’s “protectionism”. The EU Commission is set to impose Wednesday fresh duties on EVs imported from China, industry sources told… Continue reading China warns EU tariffs on EVs would ‘harm’ Europe’s interests
Clean energy investment set to run at double fossil-fuel spend
The growth is “underpinned by strong economics, by continued cost reductions and by considerations of energy security” heightened by Russia’s invasion of Ukraine, it added. Investment in clean energy technologies will climb to USD 2 trillion this year, almost double the amount spent on fossil fuels, according to the International Energy Agency. Two-thirds of the… Continue reading Clean energy investment set to run at double fossil-fuel spend