New Delhi: Piaggio Group on Thursday reported consolidated net sales totaling 1,053.1 million euros, the best first-half result ever reported, with an increase of 16.8% against 901.7 million euros in the first half of 2021. The industrial gross margin was 277.1 million euros, an increase of 5.8% compared to 261.9 million euros on 30 June… Continue reading Piaggio Group reports a net profit of EUR 45.2 million, the best first-half result since 2008
Author: Economic Times of India Online News
After a bumpy ride in Q1, Tata Motors hopes to raise the tempo in Q2 amid volume improvement
The company has guided for a volume of 90,000 units in the second quarter of FY22 implying a sequential increase of 26%. Tata Motors missed the street’s earnings expectations by a wide margin for the June quarter. This was on account of the weak performance by its UK subsidiary Jaguar Land Rover (JLR) which contributed… Continue reading After a bumpy ride in Q1, Tata Motors hopes to raise the tempo in Q2 amid volume improvement
Canada welcomes U.S. bill to expand North American EV tax credits
Canada on Thursday welcomed a deal reached by U.S. senators to back a bill that includes an expansion of tax credits for electric vehicles (EV) produced in North America that does not discriminate against those manufactured in Canada. A previous version of the bill presented by President Joe Biden‘s administration included tax credits that would… Continue reading Canada welcomes U.S. bill to expand North American EV tax credits
CESL to set up 810 EV charging stations across 16 highways, expressways pan India
Representative image Convergence Energy Services Ltd (CESL) will set up 810 electric vehicle charging stations across 16 highways and expressways covering 10,275 kilometres across the country. CESL, a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL) under the Ministry of Power has discovered prices for setting up 810 electric vehicle charging stations (EVCSs), a statement… Continue reading CESL to set up 810 EV charging stations across 16 highways, expressways pan India
Is the U.S. in a recession? Fresh GDP data to amplify debate
A first read on U.S. economic growth last quarter, due out Thursday, will amplify an ongoing debate over whether the country is, or will soon be, in recession. Most economists polled by Reuters expect U.S. gross domestic product grew, if slowly, in the three months from April through June. But about a quarter estimate it… Continue reading Is the U.S. in a recession? Fresh GDP data to amplify debate
Rheinmetall cuts sales forecast on car sector woes
Rheinmetall confirmed its previous earnings guidance for fiscal 2022, with the operating result expected to improve and the operating margin expected to come in at over 11%. BERLIN – German arms maker Rheinmetall lowered its sales guidance on Wednesday in light of persistently high risks in global automotive production, the company said. It now expects… Continue reading Rheinmetall cuts sales forecast on car sector woes
Egypt and India sign MoU to build a green hydrogen factory worth $8 billion
Egypt has signed a memorandum of understanding (MoU) with an Indian company to build a green hydrogen factory in the Suez Canal Economic Zone, a cabinet statement said on Wednesday. According to the MoU, Indian ReNew Power Private Limited will build a factory to produce 20,000 tonnes of green hydrogen a year, with investments worth… Continue reading Egypt and India sign MoU to build a green hydrogen factory worth $8 billion
Startup Repos Energy plans to raise Rs 300 crore to fund expansion plans
Transforming energy distribution with innovation. Industrialist Ratan Tata-backed energy distribution startup Repos Energy plans to raise around Rs 300 crore to fund its expansion plans. The startup is looking to have 20,000 mobile fuel stations and 5,000 mobile electric vehicle charging stations in the next five years. Repos Energy Co-Founder Aditi Bhosale Walunj said the… Continue reading Startup Repos Energy plans to raise Rs 300 crore to fund expansion plans
Delhi slowly becoming EV capital: Kejriwal at launch of charging stations
Arvind Kejriwal Delhi Chief Minister Arvind Kejriwal on Wednesday inaugurated seven electric vehicle charging stations and said the city is slowly becoming the EV capital of the country. “In 2020, the Delhi government had formulated EV Policy and we didn’t expect we would get such a resounding response. Last year, 25,809 vehicles were sold and… Continue reading Delhi slowly becoming EV capital: Kejriwal at launch of charging stations
Rockier road ahead for Asian economies as central banks recalibrate policies, inflation moves north: Moody’s
Asian economies are now face-to-face with the sharpest rise in consumer prices, Moody’s says Global central banks have ramped up efforts to reduce money supply for taming inflation, but higher credit cost may pull back activities and affect government debt, particularly in Asian economies where Moody’s expects inflation to only run high. Inflation pressure intensified… Continue reading Rockier road ahead for Asian economies as central banks recalibrate policies, inflation moves north: Moody’s