The yields on the U.S. two-year to 30-year bonds climbed to roughly three-month peaks on Monday. The Indian rupee remained under pressure on Tuesday in the wake of a drop in the Chinese yuan and a fall in local equities amid foreign outflows. The rupee was at 84.0775 to the U.S. dollar at 10:56 a.m.… Continue reading Rupee battles yuan weakness, losses in local equities
Author: Economic Times of India Online News
FMCG, auto companies step up ad spends to revive demand
With pent-up demand diluted, carmakers and dealers are also increasing marketing spends to draw buyers to showrooms this festive season. New Delhi: Nearly a dozen consumer and automobile companies, such as Nestle, Colgate-Palmolive, Godrej Consumer Products, Maruti Suzuki, Volkswagen, Skoda and Tata Motors, have stepped up advertising and marketing spends in September quarter, and some… Continue reading FMCG, auto companies step up ad spends to revive demand
CII partners with Hunch Mobility to host Urban Air Mobility Expo 2025
India, with 341.05 million passengers as the world’s third-largest aviation market, is set to lead the UAM revolution. The Confederation of Indian Industry (CII), in strategic partnership with Hunch Mobility, will host the Urban Air Mobility Expo 2025 in Greater Noida from January 19-22, 2025. This event, a part of the Bharat Mobility Global Expo… Continue reading CII partners with Hunch Mobility to host Urban Air Mobility Expo 2025
Tata Electric Mobility, Rajasthan Solar Association collaborate to boost solar EV adoption
With the growth of solar power and electric vehicles, customers can achieve significant benefits, including no associated fuel costs and zero emissions by combining these technologies. Tata Passenger Electric Mobility (TPEM), a subsidiary of Tata Motors Limited, and the Rajasthan Solar Association (RSA) have signed a Memorandum of Understanding (MoU) to promote the use of… Continue reading Tata Electric Mobility, Rajasthan Solar Association collaborate to boost solar EV adoption
Danish EV charger software firm Monta expands into US market
The Copenhagen-based company has now raised a total of 130 million euros since its founding in 2020. Denmark’s Monta, which develops software solutions for the electric vehicle charging industry, has expanded into the U.S. market and aims to have one million charging points connected to its platform within five years, the company said on Tuesday.… Continue reading Danish EV charger software firm Monta expands into US market
JSW Group & Korea’s POSCO Group sign MoU to develop integrated steel plant in India
The two Groups will also explore collaborations in the areas of battery materials related to Electric Vehicles (EVs). JSW Group (JSW) on Tuesday signed a Memorandum of Understanding (MoU) with Korea’s POSCO Group (POSCO) to set up an integrated steel plant in India with an initial capacity of 5 million tonnes per annum (MTPA). The… Continue reading JSW Group & Korea’s POSCO Group sign MoU to develop integrated steel plant in India
Transformer steel shortage could impact India’s energy ambitions: GTRI
With domestic production meeting only about 10-12 % of demand, India relies heavily on imports. Shortage of Cold-Rolled Grain-Oriented (CRGO) steel used for making transformers and electric motors could impact India’s ambitious power sector expansion plans, think tank GTRI said on Monday. The Global Trade Research Initiative (GTRI) said that India’s power sector is facing… Continue reading Transformer steel shortage could impact India’s energy ambitions: GTRI
Italy to cut automotive industry support by around USD 5 billion
The government led by Meloni’s predecessor Mario Draghi earmarked 8.7 billion euros through 2030 to support its carmaking sector. Italian Prime Minister Giorgia Meloni plans to cut by some 4.6 billion euros ( USD 5 billion) the funds set aside to support the country’s automotive industry between 2025 and 2030, the text of next year’s… Continue reading Italy to cut automotive industry support by around USD 5 billion
Steel Cos Struggle with INR 89k cr Stock on Rising Imports
Steel imports in the first six months of 2024-25 increased 41% to 4.7 mt from 3.3 mt a year ago. Indian steelmakers are grappling with inventory build-up despite higher consumption as imports continue to flood the domestic market, prompting the steel ministry to flag the issue and monitor the situation closely, said people familiar with… Continue reading Steel Cos Struggle with INR 89k cr Stock on Rising Imports
Rupee to remain defiant in face of higher U.S. yields, outflows
The central bank has been on offer on the dollar/rupee pair via the public sector all through the trading session in recent days. The Indian rupee is likely to open little changed on Tuesday, remaining unresponsive to U.S. Treasury yields, outflows and other external cues amid possible intervention from the Reserve Bank of India. The… Continue reading Rupee to remain defiant in face of higher U.S. yields, outflows