Nomura has projected sales growth of 6% year-on-year to 4.06 million units in 2023-24. India’s automobile market is expected to see an increase in sales across segments in 2023-24, albeit at a much slower pace, after bucking the declining trend globally this year. The fundamentals that have supported growth in the past couple of years… Continue reading Automobile sales to grow, but slower next year
Author: Economic Times of India Online News
World economy is headed for a recession in 2023
The findings are more pessimistic than the latest forecast from the International Monetary Fund. The world faces a recession in 2023 higher borrowing costs aimed at tackling inflation cause a number of economies to contract, according to the Centre for Economics and Business Research. The global economy surpassed $100 trillion for the first time in… Continue reading World economy is headed for a recession in 2023
Kinetic to launch electric version of Luna
Kinetic Engineering Ltd (KEL) has commenced production of chassis and other assemblies for the electric avatar of the Luna. New Delhi: Life for Kinetic Engineering Ltd. (KEL), which pioneered the iconic moped “Luna,” has reached a full circle as it commences production of chassis and other assemblies for the electric avatar of the Luna. The… Continue reading Kinetic to launch electric version of Luna
Tesla suspends production at Shanghai plant
Tesla is also grappling with elevated inventory levels as its second largest market braces for a downturn. Tesla suspended production at its Shanghai plant on Saturday, according to an internal notice and two people with knowledge of the matter, bringing ahead a previous plan to pause most work at the plant in the last week… Continue reading Tesla suspends production at Shanghai plant
India-Southeast Asia lead as investment destination for billionaires
India’s billionaire population flourished, as it overtook the UK to become the fifth-largest economy in 2022. By Lee Kah Whye Geographically, billionaires around the world are looking to put more of their money in India and Southeast Asia due to the strong growth enjoyed by economies in the region. Sectorally, they favour energy, possibly due… Continue reading India-Southeast Asia lead as investment destination for billionaires
Rupee, bond yields seen in narrow range as 2022 ends
Last week, the rupee ended little changed at 82.8575 per dollar. By Nimesh Vora and Dharamraj Dhutia MUMBAI: The Indian rupee and government bond yields are expected to trade in a narrow range amid thin volume this week, the last of 2022, due to the lack of major triggers, with the rupee also likely to… Continue reading Rupee, bond yields seen in narrow range as 2022 ends
Tata Power avails of Rs 450 crore sustainable trade finance from Japan’s MUFG
Tata Power plans to be carbon net zero before 2045 and MUFG has announced its commitment to achieving net zero emissions in its finance portfolio by 2050 and its own operations by 2030. Japan’s MUFG Bank, has executed a Rs 450 crore sustainable trade finance facility for Tata Power, the company said today. This credit… Continue reading Tata Power avails of Rs 450 crore sustainable trade finance from Japan’s MUFG
EV makers optimistic about delivering a fire-proof experience to riders
Another reason for the rising demand for EVs is their low emission level, which is anticipated to spur market revenue growth during the forecast period. New Delhi: As India goes ballistic on the electric vehicle (EV) adoption, the real test of EVs, especially two-wheelers, will happen again with the onset of summer next year. According… Continue reading EV makers optimistic about delivering a fire-proof experience to riders
India to continue to attract eyes of foreign investors, though global uncertainties pose challenges
India may attract eyes of overseas investors in 2023 as well on account of measures such as rollout of the production linked incentive (PLI) schemes and projection of healthy economic growth, though global economic uncertainties due to monetary policy tightening in the US and ongoing Russia-Ukraine war may remain cause for concern. Steps to promote… Continue reading India to continue to attract eyes of foreign investors, though global uncertainties pose challenges
Russia, India plan to drop use of US dollar, euro in bilateral trade: Russian diplomat
Representative Image New Delhi: Russia and India plan to drop all use of the US dollar and the euro in bilateral settlements and conduct all trade transactions in rupee and rouble, a senior Russian official has said. While it’s a fundamental decision by both sides, it is necessary to address the imbalance in trade for… Continue reading Russia, India plan to drop use of US dollar, euro in bilateral trade: Russian diplomat