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Amazon’s cloud business to invest $8.2 billion in Maharashtra in coming years

Amazon‘s cloud services provider, Amazon Web Services, will invest about $8.2 billion in India’s western state of Maharashtra over the next few years, the information technology ministry said on Monday. India has been stepping up its efforts to pilot local cloud data storage. According to a report by International Data Corporation, the country’s cloud services

Oberoi Group announces 2 resorts in Rishikesh

The Oberoi Group on Monday announced two new resorts in Rishikesh — an 80-key luxury resort with ‘vilas’ branding, and a  120-key five-star hotel with Trident branding. Both hotels will be managed by EIH, the Oberoi Group’s flagship company.  Located on a 60-acre site with the  Ganges on three sides, near Rishikesh, the vilas will

Domino’s reduces delivery time to 10 minutes

Domino’s and Swiggy’s quick food delivery arm Bolt announced a partnership on Monday, saying that the brand’s pizzas would now be available in 10 minutes. This makes Domino’s the first pizza brand in the country to promise such a rapid delivery.  In a statement, Swiggy said, “With this partnership, Domino’s menu items will be available

Foxconn’s industrial PC unit makes India foray

Ennoconn Corp, a Taiwan-based Industrial IoT and hardware manufacturer and a Foxconn subsidiary, has started its India operations, focussing on the country’s industrial automation and digital transformation market.  “Ennoconn has already registered a company in Tamil Nadu with plans to bring their products to the Indian market,” a source aware of the development told FE.

CCD parent cuts store count amid debt woes

Coffee Day Enterprises (CDEL), which owns the Cafe Coffee Day (CCD) chain, has cut its store count by 3% in the December quarter (Q3FY25) versus last year, as it seeks to manage its debt obligations, its latest financial statements show. At its peak in FY19, CCD operated 1,752 stores. It now has 439 stores (Q3)

Adani Green Energy refinances $1.06-billion loan

Adani Green Energy (AGEL) on Monday said it has refinanced its maiden construction facility, with outstanding of $1.06 billion taken in 2021, to develop a solar-wind hybrid renewable cluster in Rajasthan. The long-term financing has door-to-door tenure of 19 years with fully amortised debt structure emulating the underlying asset life, the company said. ED notice

Power demand likely to grow at 6.3% annually over next three years: IEA

India’s electricity demand is expected to grow at an average 6.3% annually over the next three years, stronger than the 2015-2024 average growth rate of 5%, as per the forecast by the International Energy Agency. The strong demand for electricity is supported by economic expansion and rising air conditioner ownership, as per the agency. Over

ED notice to Paytm’s parent company over Rs 611 crore FEMA violation; shares drop 4%

The Enforcement Directorate on Monday said it has issued a notice to Paytm’s parent company, its MD and linked entities for “contravention” of the Foreign Exchange Management Act (FEMA) involving Rs 611 crore. According to Paytm’s annual report for the financial year 2024, the fintech major’s founder, Vijay Shekhar Sharma, is its chairman, managing director
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