On Wednesday, the rupee had settled at 72.72 against the American currency. Mumbai: The Indian rupee slumped 27 paise to 72.99 against the US dollar in opening trade on Thursday, weighed down by a rebound in the US dollar and lacklustre opening in domestic equities. At the interbank forex market, the domestic unit opened at… Continue reading Rupee slumps 27 paise to 72.99 against US dollar in early trade
Author: Economic Times of India Online News
Auto decline started before pandemic: ZF
The slump in the automobile sector in the country started pre-pandemic. Pune: The Indian arm of the German auto components manufacturer ZF has said the slump in the automobile sector in the country started pre-pandemic, although green shoots have been visible since mid-2020, with regulations and pent-up demand starting to take effect. “The drop in… Continue reading Auto decline started before pandemic: ZF
Labour codes face delay as states fail to frame rules
The government’s plan for a fast-track roll out of the four labour codes is facing some turbulence with states still to frame rules, leaving the Centre in a limbo about whether it should notify the rules in areas under its ambit. Absence of state rules may create a legal vacuum and defeat the entire purpose… Continue reading Labour codes face delay as states fail to frame rules
Industry leaders wary of job quota in pvt sector, say skill set a worry
According to industry bodies, around 75% workforce in the automotive sector, 90% in the garment and apparel industry, 80% in IT & ITeS, 50% in retail and 85% in the construction sector are from outside Haryana. Gurgaon: The new Haryana law reserving 75% of private sector jobs for the state’s residents will impact the allied… Continue reading Industry leaders wary of job quota in pvt sector, say skill set a worry
Magenta Power sets up street lamp integrated EV charging stations
It has automated payment gateway through the ChargeGrid App, thereby eliminating the need of having a station marshal to monitor, maintain and operate the chargers at the location, it said. Mumbai: EV charging solutions provider Magenta Power on Wednesday announced the setting up of its first set of street lamp integrated charger ChargeGrid Flare, in… Continue reading Magenta Power sets up street lamp integrated EV charging stations
Germany to fine companies for rights violations abroad
This law protects workers from exploitation across sprawling supply chains and protects human rights across the world. In future, it will be clear that ‘Made in Germany’ also means respect for human rights said finance minister Olaf Scholz. BERLIN: Germany on Wednesday took a step towards forcing companies to take responsibility for any labour or… Continue reading Germany to fine companies for rights violations abroad
Oye! Rickshaw launches battery swapping platform; to deploy 10K Li-ion batteries
Oye aims to tap the growing e-rickshaw market through its distributed battery swap network while delivering a broader socio-economic impact. New Delhi: The electric vehicle startup Oye! Rickshaw has launched its battery swapping platform and targets to deploy 10,000 Li-Ion batteries by December 2021. This announcement comes on the heels of a successful battery swapping… Continue reading Oye! Rickshaw launches battery swapping platform; to deploy 10K Li-ion batteries
Audio Interview: International WFH Options for Automotive Industry Professionals
Detroit: GlobalAutoIndustry.com’s latest Audio Interview “International WFH Options for Automotive Industry Professionals” features Allen C. Koski. Koski is President of Insured Nomads, the first insurtech in global benefits. Previously Koski was a Senior Vice President at United Healthcare Global and prior to that instrumental in the growth and development of Cigna Global in roles that… Continue reading Audio Interview: International WFH Options for Automotive Industry Professionals
China cuts "carbon intensity" 18.8% in past five years, in effort to rein in emissions
China: The world’s biggest emitter of greenhouse gases, succeeded in lowering “carbon intensity” by 18.8% in the five years through 2020, a Ministry of Ecology and Environment (MEE) report said on Tuesday, showing the economy’s reduced reliance on fossil fuels. The decline in “carbon intensity” – the amount of carbon dioxide emissions the country produces… Continue reading China cuts "carbon intensity" 18.8% in past five years, in effort to rein in emissions
RIICO plans to develop EV research & mfg zone in NCR
To encourage the support infrastructure for EVs, e-charging and swapping stations were also accorded thrust sector status in the 2021-22 Budget. Jaipur: RIICO is planning to develop an Electric Vehicle (EV) Research and Manufacturing Zone in the NCR part of the state to take first-mover advantage in the sector. EV sector has been included as… Continue reading RIICO plans to develop EV research & mfg zone in NCR