Category: Business & Economics

UK, Tata Steel sign 1.25-million-pound deal; protest over potential job cuts.  Reacting to the development, British Prime Minister Rishi Sunak called it “a big day for UK steel”.  Tata will use the government subsidy to help convert the South Wales plant’s two coal coal-fired blast furnaces to electric arc versions.  Rishi Sunak government’s plan to pump in 500 million pounds into the country’s biggest steel plant in South Wales.  This comes as protests erupted owing to potential job risks to 3,000 workers.  It is being dubbed as one of the…

State-run Oil India (OIL) is planning to invest around ₹8,000 crore in the 2G ethanol space, as part of its overall target of achieving net zero emissions by 2040.  The company is investing ₹25,000 crores to achieve net zero by 2040, in areas including 2G ethanol, green hydrogen, compressed biogas (CBG), and solar power.  Crude oil prices have been on the rise in recent times, Oil India, being a prominent player in the industry, is well-prepared to handle such fluctuations and maintain its production goals.  In terms of solar power,…

The Supreme Court has come down hard on SpiceJet Chairman and Managing Director Ajay Singh, warning him he will be sent to Tihar jail for non-compliance.  The Supreme Court asked Ajay Singh to pay $ 5,00,000 towards an installment to the Swiss firm along with a $ 1 million defaulted amount.  The bench told Mr Singh he would have to abide by the consent terms and warned, “We are not bothered even if you die. It is too much. We will send you to Tihar jail if you do not…

  Honda Cars India Ltd. (HCIL), a leading manufacturer of premium cars in India today announced a significant advancement to further enrich the customers’ ownership journey. The company introduced a host of new features in the Honda Connect application for an enhanced connected experience for the user.   The latest add-ons represent a significant stride towards enriching the customer ownership experience. With this update, Honda Connect now offers 37 highly useful features and comes with the industry’s best 5-year free subscription package*.   Mr Yuichi Murata, Director, of Marketing & Sales at Honda Cars India,…

Solar solutions provider Nextracker today announced the unveiling of next-generation innovations- NX Horizon XTR-1.5™, and Zonal Diffuse.  NX Horizon XTR-1.5™ and Zonal Diffuse™ build upon proven solutions to tackle the biggest challenges solar EPCs and owners face.  The product suite combines hardware, smart software, and process innovations to deliver value to owners and EPCs.  Nextracker’s solutions become indispensable in ensuring the success and optimization of solar projects throughout India.  Nextracker is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects…

A special PMLA court in Mumbai on Thursday (September 14) sent Naresh Goyal, founder of embattled Jet Airways, to judicial custody for 14 days.  The court in Mumbai said on Thursday that Jet Airways founder Naresh Goyal would remain in judicial custody till September 28.   Goyal had requested the court not send him to the Taloja Central Jail, and sent him to the Arthur Road Jail as it is closer to his home in Mumbai.  The FIR was registered on the bank’s complaint which alleged that it sanctioned credit…

Mumbai, 13 September, 2023: Hon’ble Prime Minister Shri Narendra Modi will dedicate the MGR (Merry-Go-Round) system connecting Talaipalli Coal Mine to NTPC Lara to the nation on 14th September, 2023. The 65-km-long electrified MGR System will boost the generation of low cost and reliable power from NTPC Lara, thus strengthening energy security of the country. The MGR system built at a cost of Rs 2071 crore will be utilised for delivery of low cost, higher grade coal from NTPC’s Talaipalli coal mine to 1600 (2×800) MW NTPC Lara Super Thermal Power…

Blue Dart Rebrands Express Delivery Service To ‘Bharat Dart’.  According to Blue Dart, Bharat Dart is a ‘time-sensitive delivery backed by speed, security, and handling with value-added features.  The decision to rename the service stems from an ‘extensive discovery and research process,’ the company said.  The extensive use of the word ‘Bharat’ instead of ‘India’ in the build-up to and during last week’s New Delhi G20 Summit triggered speculations of a possible name change.  On its part, the government has not issued a confirmation or denial. Prominent logistics company Blue…

Byju’s puts Great Learning, Epic on the block to generate $800 million to $1 bn for loan repayment.  Byju’s, which paid about $375 million for acquiring Epic in 2021, is expecting to garner about $400-550 million.   The company has received three term sheets for Epic and the deal talks are at advanced stages.  Byju’s, valued at $22 billion last year, has experienced a series of business crises, including its auditor and board members quitting.  Byju’s, India’s most-valued startup, has put two of its biggest assets—upskilling platform Great Learning and…

India’s digital payment systems like the Unified Payments Interface (UPI) are steadily becoming globally attractive amid measures to enable seamless cross-border transactions.  It’s been six years since UPI (Unified Payments Interface) was introduced as a payment system in India.  Japan is ‘seriously’ considering joining India’s Unified Payments Interface (UPI) system to enable cross-border transactions between people in both countries.  NPCI plans to take UPI to Saudi Arabia, Bahrain, and other Gulf countries.  According to a report UPI  transactions are expected to reach a milestone of 1 billion transactions per day…