Day: September 10, 2022

Industry choosing US over China, Japan to manufacture chips: Joe Biden

WASHINGTON: Global chips manufacturing industry is opting for the United States (US) over countries like China and Japan to set up their plants, President Joe Biden said as he announced two major investments by these companies here. China, Japan, South Korea, the European Union — all these places are investing tens of billions of dollars […]

India not part of IPEF’s trade pillar; to decide in national interest

LOS ANGELES: India has not yet agreed to the commitments of the trade pillar of the 14-member Indo-Pacific Economic Framework (IPEF) and will wait for further clarity on the issue, a top official said on Friday. Commerce and industry minister Piyush Goyal attended the first in-person ministerial meeting of the two-day IPEF, which concluded here. […]

Reliance Industries acquires Shubhalakshmi Polyesters for Rs 1,592 crore

NEW DELHI: Reliance Petroleum Retail (under name change to ‘Reliance Polyester’), a wholly-owned subsidiary of Reliance Industries, on Saturday acquired the polyester business of Shubhalakshmi Polyesters (SPL) and Shubhlaxmi Polytex (SPTex) for Rs 1,522 crore and Rs 70 crore, respectively, in cash. The acquisitions are subject to approval by the Competition Commission of India (CCI) […]

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