India and the European Union on Friday decided to conclude their much-awaited Free Trade Agreement (FTA) by the end of 2025, and finalised a blueprint for increased collaboration in broad range of areas such as trade, mobility, technology and investment. “We have directed our teams to conclude a mutually beneficial Bilateral Free Trade Agreement by
TVS Indeon, a wholly-owned subsidiary of automotive electrical component manufacturer Lucas TVS, is set to enter battery cell manufacturing for the mobility segment and energy storage solutions, a senior company official said.“Currently, we are only offering battery packaging solutions. The next step is to enter battery cell manufacturing,” said TK Balaji, chairman and managing director
Versuni India, earlier known as Philips Domestic Appliances, is aiming to manufacture 90% of its portfolio domestically, up from 70% currently, in the next two years, a top official said. “When I say made in India, it is conceptualised in India, developed in India and then manufactured in India,” Gulbahar Taurani, MD and CEO, Versuni
Adani Green Energy (AGEL), the renewable energy arm of the Adani Group, on Friday announced that it has surpassed a record 12,000 megawatts (MW) of operational capacity. The company claims to be the first and only renewable energy firm in India to achieve this milestone. Sumant Sinha-led ReNew is the second-largest renewable energy company in
A US bankruptcy court has ruled against Byju’s Alpha, Inc and its affiliates in a case involving the fraudulent transfer of $533 million. Judge John T Dorsey of the Delaware Bankruptcy Court issued a summary judgment against key defendants, including Riju Raveendran, Camshaft Capital Fund, LP, and Think & Learn (T&L), which operates as Byju’s.
Byju Raveendran, the founder of troubled edtech firm, Byju’s, has spoken out for the first time in months, addressing the company’s financial crisis and legal battles in a LinkedIn post. He directly accused Glas Trust, the trustee for Byju’s US lenders, and the interim resolution professional (IRP) overseeing the company, of actively harming rather than
Piramal Enterprises Ltd. has received a GST demand notice of Rs 1,502 crore, including tax, interest and penalties, from the Deputy Commissioner of State Tax, Maharashtra. According to an exchange filing on Friday, the penalty component amounts to Rs 83 crore. The tax demand pertains to the company’s sale of its pharma business to Piramal
While US President Donald Trump announced the likely imposition of 25 per cent tariffs on imported pharmaceuticals, Kotak Institutional Equities (KIE) analysed the base and worst case scenarios in the event of the tariff hike. “In the backdrop of uncertainties around US tariffs on pharma, our base case is high tariffs (>10 per cent) are
Fund managers in China may see a major blow to their salaries. If they do not meet the set performance standards, their salaries can be cut by up to 50%. This decision is part of a comprehensive reform in the country’s 33 trillion yuan ($4.6 trillion) mutual fund industry. According to a Bloomberg report, the
The India Meteorological Department has forecast above-average summer temperatures and increased heat waves. This is not surprising, as India is already facing rising temperatures. The demand for cooling products is expected to lead to record sales this year due to the early arrival of summer. High temperatures will increase the demand for air conditioners, coolers
Gold has been on a tear with its price jumping over 50% in the last one year. In international markets, gold crossed $3,000 an ounce on March 14, while in India, gold rate today is Rs 87,970 per ten grams. The recent surge in gold prices is due to the R-word – recession, which now
US stocks rallied to their best day in months on Friday as Wall Street’s roller coaster suddenly shot back upward. That still wasn’t enough to keep the US market from a fourth straight losing week, its longest such streak since August. The S&P 500 jumped 2.1% a day after closing more than 10% below its
As the markets graduated from a correction to a full-blown crash, investors of all types are running for exit. It is at times like these that we must remember the words of the world’s most famous value investor, Warren Buffet. He said, “Be greedy when others are fearful and be fearful when others are greedy.”
