CATEGORIES

Mining world turns to Saudi cash for metals

Saudi Arabia is seeking to take minority stakes in global mining assets

Sanctions hit Sibur petrochem plans with Indian Oil

Russia’s largest integrated petrochemicals company PJSC Sibur Holding’s plan to build a large petrochemical plant with state-run Indian Oil Corp. Ltd (IOC) at Paradip has hit a roadblock due to the sanctions amid ongoing Russia-Ukraine war, said two people aware of the development.

'We plan to double the pace of chip commercialization'

Applied Materials Inc. is looking to compress its research, development and trial cycles of production technologies in semiconductor equipment by halving it from the current 10-15 years, following its $400 million investment to set up a centre in Whitefield, Bengaluru, Prabhu Raja, president, semiconductor products group, and Srinivas Satya, country president, Applied Materials.

Biological E may raise $250 mn from PE firms

Indian vaccine producer Biological E is in discussions with global private equity (PE) investors General Atlantic, and TA Associates, among others, to raise up to $250 million by selling a minority stake in the company, two people familiar with the matter said.

MotoGP Bharat to flag off with an investment of ₹250 crore

FairStreet Sports Pvt. Ltd, the organizer of the MotoGP Bharat race, has committed ₹250 crore for the premier Grand Prix motorcycle racing event set to be held in Greater Noida.

IndiGo works on more overseas partnerships

Airline's plans come amid aggressive expansion by Tata-owned Air India

Govt in talks with BSF as rice, sugar smuggling rises after export ban

Smuggling of sugar to Bangladesh has gone up following India’s refusal to send one million tonnes of sugar under the government-to-government (G2G) route. The government did not grant permission citing limited availability in the country, said two people aware of the matter.

'Don't deny reality, but optimize globalization'

External affairs minister S. Jaishankar on Sunday called on businesses to \"optimize globalization\" as global supply chains become more distributed.

Push for quick rollout of US, UAE deals to boost exports

Planned move to boost authorized economic operators comes amid falling Indian exports

Pencil maker DOMS preps ₹1,200 cr IPO as mkt swells

DOMS Industries, India’s second-largest pencil maker, is set to file draft papers for a ₹1,200 crore initial public offering (IPO) with the Securities and Exchange Board of India (Sebi) in the second week of August, two investment bankers aware of the development said.

'India could allow global firms to avail incentives under DLI'

The Union government is evaluating a proposal to include large multinational companies in India’s $200 million design-linked incentive (DLI) scheme if they were designing chips in the country, said Rajeev Chandrasekhar, minister of state for electronics and information technology (IT).

NSE weighs extending trade timings gradually

National Stock Exchange (NSE) of India Ltd is considering gradually extending trade timings, currently set at 6 hours and 15 minutes of the regular market, in consultation with its broker members, a top official of India’s largest stock exchange said.

Go First eyes more cash, leaner fleet

Go Airlines India Ltd, the operator of bankrupt Go First airline, aims to secure higher interim financing of ₹600-700 crore from banks and start with fewer flights than earlier planned in its revised strategy to resume operations, two people directly aware of the plan said.

FAME III corpus may jump to ₹30,000 cr

Charging infra to gain focus, with allocation expected to double

SAT overturns Sebi order against Ambani brothers

The Securities Appellate Tribunal (SAT) on Friday set aside the Securities and Exchange Board of India’s (Sebi’s) April 2021 penalty of ₹25 crore on Mukesh Ambani, Anil Ambani, Reliance Industries Holding, and eight other entities for alleged violation of takeover regulations in a more than two-decade-old case.

BPEA buys fertility clinic Indira IVF at valuation of $1.1 billion

Private equity firm BPEA EQT has acquired 60% of Indira IVF Hospital Pvt. Ltd, India’s largest chain of fertility clinics, from TA Associates and the fertility company’s founders at a valuation of about $1.1 billion, according to two people familiar with the transaction.

Nestlé to raise chocolate, coffee capacities in India

Nestlé India Ltd will invest ₹4,200 crore by 2025 to expand the manufacturing capacity of its noodles, coffee and chocolates portfolio, the packaged foods company’s India chief said, as it spots opportunities in selling both mass and premium products in the country.

Indian cos can list directly on bourses abroad, and IFSC

The Union government has decided to let Indian companies list directly on stock exchanges abroad and in Gujarat’s International Financial Services Centre (IFSC), finance minister Nirmala Sitharaman said on Friday.

PM pitches India to chip majors, assures reforms

Modi said India is best positioned to become a trusted chip supplier to the world

'Covid made holiday homes mainstream'

Saffron Stays, which operates in the holiday homes monetization sector with 290 properties on its listings platform, is planning to expand across the north and south India.

Leg-up for lithium hunt as LS passes mining Bill

MMDR Amendment Bill seeks pvt participation in critical mineral production too

India should get two semiconductor proposals within 12 months: Vaishnaw

India should get two high-quality proposals in semiconductor fab in the next 12 months, said communications and IT minister Ashwini Vaishnaw in an interview.

Top stars don negative roles to explore new territories

Top film stars, traditionally cast in lead roles, are agreeing to play negative characters in high-budget, multilingual projects primarily outside their home market, in a new emerging trend.

Piramal Ent to buy back 14 mn shares for ₹1.750 crore

Piramal Enterprises Ltd is planning to buy back up to 14 million equity shares for about ₹1,750 crore as part of its strategy to distribute excess capital to its shareholders, the diversified non-bank financier said on Friday.

5 E2-wheeler cos face lawsuits over FAME-II

Only 2 out of 7 firms served recovery notices have agreed to return money

Tesla execs press for duty cut in meet with govt officials

A delegation of senior Tesla executives, comprising leaders of its public policy, supply chain and business development teams, is visiting India to actively engage with all government stakeholders to gain insights into the market.

AMD commits $400 mn to expand India R&D

Investment will be made over five years to expand engineering operations

A NEW SPACE CELEBRATES SHAHJAHANABAD

Kathika, a new museum and cultural centre in the heart of Old Delhi, hopes to revive a lost cultural legacy

Interesting but flawed

'Quarterlife' tries to make sense of the changes sweeping through the country

There is Al in your productivity tools too

Over the past few years, Al has found its way into the apps and services we use every day: from email to Excel spreadsheets