The company is also seeking buyers for a bulk of its urban renewal projects in top-tier city Shenzhen, two sources with direct knowledge said. By Clare JimHONG KONG: Chinese property developer Evergrande Group is in talks with state-owned and private companies to sell stakes in its electric vehicle (EV) and property management businesses, a source… Continue reading China Evergrande in sale talks over EV, property, Shenzhen projects
Author: Economic Times of India Online News
RIL and partners to invest $144 mn in US-based energy storage company
New Delhi: Reliance New Energy Solar Ltd (RNESL), a wholly-owned subsidiary of Reliance Industries (RIL), along with strategic investors Paulson & Co. Inc. and Bill Gates, and a few other investors, has announced an investment of $144 million in Ambri Inc, an energy storage company based in Massachusetts, USA. The investment will help the company… Continue reading RIL and partners to invest $144 mn in US-based energy storage company
India sees addition of 16 million jobs in July: CMIE
India saw an addition of 16 million jobs in July 2021 but salaried jobs fell by 3.2 million compared to June while they were less by 10 million compared to pre-Covid levels, the Centre for Monitoring Indian Economy said. In July 2021, while employment in agriculture grew by 11.2 million, the construction sector absorbed an… Continue reading India sees addition of 16 million jobs in July: CMIE
7.67 crore traffic challans issued within 23 months of new motor vehicle law implementation: Nitin Gadkari
Gadkari said the Motor Vehicles (Amendment) Act, 2019, has inserted a new Section 198A in the Motor Vehicles Act, 1988. Authorities have issued over 7.67 crore challans for traffic violations across the country in 23 months after the implementation of the Motor Vehicles (Amendment) Act, 2019, Road Transport and Highways Minister Nitin Gadkari told Parliament… Continue reading 7.67 crore traffic challans issued within 23 months of new motor vehicle law implementation: Nitin Gadkari
Mexican autos group says COVID-19 slows chip supply efforts, to hit production
AMIA head Fausto Cuevas said Mexico’s auto production and exports this year could be at similar levels to 2020, after AMIA had previously estimated production would increase 12% this year. MEXICO CITY: The Mexican Automotive Industry Association (AMIA) said on Monday that a third wave of COVID-19 infections had delayed efforts to fix a semiconductor… Continue reading Mexican autos group says COVID-19 slows chip supply efforts, to hit production
CarTrade Tech IPO subscribed 41 % on first day of offer
Retail individual investors (RIIs) category was subscribed 80 per cent, non-institutional investors 3 per cent and Qualified Institutional Buyers (QIBs) 1 per cent. New Delhi: The initial public offer of online auto classified platform CarTrade Tech was subscribed 41 per cent on Monday, the first day of subscription. The INR 2,998.51-crore IPO received bids for… Continue reading CarTrade Tech IPO subscribed 41 % on first day of offer
Mercedes-Benz India signs pact with DSEU to offer Automotive Mechatronics course
Representive Image: The Advanced Diploma in Automotive Mechatronics (ADAM) programme is an initiative by Mercedes-Benz India conducted with the help of educational institutions to fulfil the requirements for superlative service in the automotive sector, the company said in a statement. New Delhi: Luxury carmaker Mercedes-Benz India on Monday said it has signed a memorandum of… Continue reading Mercedes-Benz India signs pact with DSEU to offer Automotive Mechatronics course
Sundaram Finance Holdings picks 8.3 % more stake in Mind Srl of Italy
Promoted by its three founders, Francesco Varrasi, Denis Luci and Pietro Pometti, Mind has over the years established long-term relationships with some marquee oustomers in the automotlve domaln with a focus on motorsport segment, along with a small presence in aerospace and medical segments. New Delhi: Sundaram Finance Holdings Ltd (SFHL) said on Monday its… Continue reading Sundaram Finance Holdings picks 8.3 % more stake in Mind Srl of Italy
Why inflation will remain cyclical and not lead to a structural rise in prices
A widespread debate has raged on inflation for quite a while now. Many observers are concerned about a rise in inflation and believe that this will persist and lead to massive central bank action. The consensus is about an episode of runaway inflation. I don’t think it’s happening. The odds are low, drivers absent and… Continue reading Why inflation will remain cyclical and not lead to a structural rise in prices
Bajaj family to buy out JV partners in Mukand
There will be no tender offer for the acquisition of shares since it is a transfer between promoters. The transaction is expected to take place as early as Monday. One of India’s oldest manufacturing joint ventures that had the blessings of Mahatma Gandhi is finally getting unstuck. The Bajaj family has decided to buy out… Continue reading Bajaj family to buy out JV partners in Mukand