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iPhone maker Foxconn plans $700 million plant in Bengaluru

By nihalshaikh9881 | March 3, 2023 by nihalshaikh9881

Apple Inc. partner Foxconn Technology Group plans to invest about $700 million on a new plant in India to ramp up local production, people familiar with the matter said, underscoring an accelerating shift of manufacturing away from China as Washington-Beijing tensions grow. The Taiwanese company, also known for its flagship unit Hon Hai Precision Industry Co., plans to build the plant to make iPhone parts on a 300-acre site close to the airport in Bengaluru, the capital…

Japan to invest ₹7,200 crores in Uttar Pradesh

By nihalshaikh9881 | February 27, 2023 by nihalshaikh9881

Japan to invest ₹7,200 crores in Uttar Pradesh, Chief Minister Yogi Adityanath-led Uttar Pradesh government’s efforts of harnessing UP’s tourism potential have not only led to an increased influx of domestic and foreign tourists but also will generate ample employment opportunities in tourist destinations, the statement said. In 2022, Uttar Pradesh witnessed the arrival of 24.87 crore tourists to the state, of which the number of foreigners was 4.10 lakh. Owing to the sustained efforts of…

Adani talks for $400 million debt against Australian coal port assets

By nihalshaikh9881 | February 27, 2023February 27, 2023 by nihalshaikh9881

Adani Group has begun discussions with global credit funds to raise up to $400 million in debt against assets of a key coal port that makes up a large portion of the Indian conglomerate’s Australian exports of the solid fossil fuel from Carmichael mine, the Economic Times reported on Monday citing sources aware of the fund-raising. Blogs. News.

Bull vs bear: Will Nifty defend its bottom made on the budget day?

By nihalshaikh9881 | February 26, 2023February 26, 2023 by nihalshaikh9881

Nifty ended last week with a cut of 2.67%, followed by a six-day losing streak. We were already struggling to move higher, and now weakness in global markets due to a jump in US bond yields is acting as a key headwind. The market will continue to keep an eye on the direction of global markets along with the movement of US bond yields and the dollar index in the near term because the interest…

Telecom tycoon Sunil Mittal seeking stake in Paytm

By nihalshaikh9881 | February 24, 2023February 24, 2023 by nihalshaikh9881

Indian telecommunications tycoon Sunil Mittal is seeking a stake in Paytm by merging his financial services unit into the fintech giant’s payments bank, according to people with knowledge of the matter. Mittal seeks to fold Airtel Payments Bank into Paytm Payments Bank in a stocks deal and is also seeking to buy Paytm shares from other holders, the people said, asking not to be identified discussing private information. Talks are in early stages and Airtel…

One year of Russia-Ukraine war: A timeline of key moments so far

By nihalshaikh9881 | February 24, 2023 by nihalshaikh9881

On both sides, there have been tens of thousands of civilian deaths and injuries, millions of internal or external displacements and devastations in cities and towns. As the Russia-Ukraine conflict marks its first anniversary on February 24, 2023, here is a timeline of what happened so far. February 2022 – July 2022 On February 24, 2022, Russian President Vladimir Putin launched a “special military operation”, ordering tens of thousands of Russian troops into neighbouring…

China to overtake US as world’s largest economy

By nihalshaikh9881 | February 24, 2023 by nihalshaikh9881

China to overtake US as world’s largest economy, The United States has restricted exports of critical semiconductor components and technology to China, Beijing’s bid to topple Washington as the No 1 economy faces ‘unprecedented’ pressure, according to The Star reports. Despite having the world’s strongest industrial manufacturing capability, core technologies like China’s Achilles’ heel are easy prey for Washington in its strategy of tech containment. Join Our Instagram Channel Chinese President Xi Jinping’s hopes of…

Top drone maker ideaForge of ‘3 Idiots’ fame files for IPO

By nihalshaikh9881 | February 10, 2023February 10, 2023 by nihalshaikh9881

Mumbai-based ideaForge, a vertically integrated firm which designs and manufactures drones for mapping, security and surveillance applications has filed papers with market regulator SEBI to unlock value and raise capital via an initial public offer, multiple industry sources with knowledge of the matter told Moneycontrol. If the firm’s plans fructify, it would be the first ever listing by a drone maker on the main board of the domestic bourses. To be sure, ace investor Shankar…

LIC not thinking of investing further in Adani Group cos right now

By nihalshaikh9881 | February 10, 2023 by nihalshaikh9881

Life Insurance Corporation (LIC) of India is not immediately planning to invest more in Adani Group companies despite the stocks being available at relatively much cheaper prices now. The largest domestic institutional investor in India had subscribed to the Adani Enterprises follow on public offer (FPO) at the upper band of the price. The stock is now available at about 40 percent cheaper. “We are not thinking of doing anything,” said M R Kumar, Chairman,…

Moody’s changes Adani Green outlook to negative from stable

By nihalshaikh9881 | February 10, 2023 by nihalshaikh9881

Moody’s Investors Service on February 10 affirmed the ratings on eight Adani Group companies, including Adani Green. Moody’s has changed the outlook of four Adani Group companies to negative from stable while maintaining the stable outlook on the four other companies. This development comes amid the Adani Group market rout following the release of the controversial Hindenburg report. The Moody’s outlook for Adani Green Energy Limited (AGEL); Adani Green Energy Restricted Group (AGEL RG-1) comprising Adani Green…