The official finalization of the separation comes Tuesday, with General Electric disappearing in favor of GE Vernova, dealing with energy activities, and GE Aerospace, the new name of the late GE. New York: The US conglomerate General Electric, co-founded more than 130 years ago by Thomas Edison, is opening a new chapter in its history… Continue reading Swan song for General Electric as it completes demerger
Author: Economic Times of India Online News
JSW Energy board okays raising INR 5,000 cr via QIPs
According to the filing, the JSW Energy board in its meeting on Tuesday approved a Qualified Institutions Placement of equity shares with face value of INR 10 each to the eligible investors New Delhi: Sajjan Jindal led JSW Energy board on Tuesday approved raising of INR 5,000 crore through the issuance of equity on qualified… Continue reading JSW Energy board okays raising INR 5,000 cr via QIPs
US climate law has boosted solar, batteries; hydrogen, other initiatives lag
Ultimately, analysts expect U.S. government direct spending and tax credits under the law will far exceed the initial USD 400 billion estimate. The U.S. has doubled the pace of cutting carbon emissions since President Joe Biden’s Inflation Reduction Act (IRA) passed in 2022, analysts and scientists said, with more than 80 solar, wind and energy… Continue reading US climate law has boosted solar, batteries; hydrogen, other initiatives lag
US new vehicle sales likely rose in Q1, to extend recent streak
U.S. new-vehicle sales volume in the first quarter is expected to grow by 5.6% to 3.8 million units from a year ago, according to industry consultant Cox Automotive. U.S. auto sales likely rose by a mid single-digit percentage in the first quarter, adding to gains made last year on sustained appetite for crossover SUVs, pickup… Continue reading US new vehicle sales likely rose in Q1, to extend recent streak
Rupee to rely on central bank help to counter surging dollar
“You would expect the RBI to sell (USD/INR) and the opening price action will reflect that,” a forex trader at a private sector bank said. The Indian rupee will be counting on the central bank’s assistance on Tuesday to avoid declining to a record low, after robust U.S. manufacturing data pushed the dollar index to… Continue reading Rupee to rely on central bank help to counter surging dollar
Servotech Power Systems and Electra EV partner for new EV charging technologies
“Electra EV is delighted to announce the collaboration with Servotech Power Systems, which is working towards reimagining the EV charging landscape with solutions that are fit for purpose,” Samir Yajnik, CEO of Electra EV, said. New Delhi: Servotech Power Systems Ltd., a developer of EV chargers and solar solutions, and Electra EV, a leading electric… Continue reading Servotech Power Systems and Electra EV partner for new EV charging technologies
Opinion: How India can transform EV challenges to opportunities
Among high speed EVs (those tracked by Vaahan database), E2Ws are most dominant in India today, followed by electric 4-wheelers (E4Ws), mostly cars, and electric 3-wheelers (E3Ws). India’s electric vehicle (EV) revolution is at a pivotal juncture, with a promising growth trajectory. While EVs accounted for 5% of total vehicle sales between October 2022 and… Continue reading Opinion: How India can transform EV challenges to opportunities
New toll rates on highways to be effective after Lok Sabha elections
“Such verbal instructions from NHAI at the last moment has led to confusion amongst the concessionaires,” NHBF said. New Delhi: The Election Commission of India (ECI) has asked state-owned NHAI to go ahead with the calculation of new user fee (toll) rates on highways, which kicks in annually from April 1 across most of tolled… Continue reading New toll rates on highways to be effective after Lok Sabha elections
Bajaj Auto March 2024 domestic sales up 18% to 2,20,393 units
The company witnessed an increase of 17% in the total sales of commercial vehicles to 52,019 units compared to 44,565 units last year. New Delhi: Bajaj Auto, one of India’s leading automobile manufacturers, reported an increase of 18% to 2,20,393 units in March 2024 domestic sales, compared to 1,86,522 units in March 2023. On the… Continue reading Bajaj Auto March 2024 domestic sales up 18% to 2,20,393 units
India’s March manufacturing PMI rises to 16-year high as output and orders jump to highest since October 2020
India’s manufacturing output rose for the 33rd consecutive month in the final month as growth quickened across consumer, intermediate and investment goods sectors. The manufacturing sector in India closed out FY24 a “stellar performance” in March, a private survey showed, as companies stepped up hiring in response to strong production and new orders. The HSBC… Continue reading India’s March manufacturing PMI rises to 16-year high as output and orders jump to highest since October 2020