ADIA, Brookfield, KKR to invest $500 million in UPL’s pure-play biz platforms
NEW DELHI: Agrochemical major UPL on Friday announced a strategic corporate realignment in which ADIA, Brookfield, KKR and TPG will separately invest Rs 4,040 crore (USD 500 million) for minority stakes in its pure-play business platforms. Abu Dhabi Investment Authority (ADIA), Brookfield and TPG will invest Rs 1,580 crore (USD 200 million) for a 9.09 […]
Asian Paints announces Rs 2650 crore capex plans for two manufacturing units
MUMBAI: Asian Paints on Thursday announced Rs 2,100 crore of phased investment to set up a new plant to produce vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in the country. The company also announced another Rs 550 crore of investment to set up a white cement plant in the UAE in partnership […]
Competition Commission of India fines Google Rs 1,338 crore for anti-competitive practices
NEW DELHI: The Competition Commission on Thursday imposed a penalty of Rs 1,337.76 crore on Google for abusing its dominant position in multiple markets in the Android mobile device ecosystem. Besides, the fair trade regulator has directed the internet major to cease and desist from unfair business practices. In a release, the Competition Commission of […]
Eyeing $5 billion exports, $22-bn turnover in defence sector by 2025: India’s Rajnath Singh
GANDHINAGAR:Terming exports as a key pillar for long-term sustainability of the domestic defence industry, Defence Minister Rajnath Singh on Thursday said the government has set itself a target of achieving defence exports of USD 5 billion by 2025. Speaking at an event at the 12th Defence Expo here, he also said the government was eyeing […]
India suffered income loss of $159 billion due to extreme heat in 2021: Report
NEW DELHI: India suffered an income loss of USD 159 billion, 5.4 per cent of its gross domestic product, in the service, manufacturing, agriculture, and construction sectors due to extreme heat in 2021, according to a new report. Heat exposure in the country led to the loss of 167 billion potential labour hours, a 39 […]
Shehbaz Sharif welcomes FATF’s decision to remove Pakistan from its grey list
ISLAMABAD: Pakistan Prime Minister Shehbaz Sharif on Friday welcomed the FATF’s decision to remove his country from its grey list, describing the development as a vindication of our determined and sustained efforts over the years. The Paris-based Financial Action Task Force (FATF), the global watchdog on terror financing and money laundering, on Friday removed Pakistan […]
Serum Institute of India stopped Covishield production in December 2021: Adar Poonawalla
PUNE: Chief Executive Officer of Serum Institute of India (SII), Adar Poonawalla, on Thursday said the vaccine manufacturer stopped the production of the Covishield vaccine starting December 2021, and of the total stock available at that time, around 100 million doses had already got expired. Speaking to reporters on the sidelines of the annual general […]
Tork Motors to deliver of cutting-edge KRATOS in Mumbai
NEW DELHI: Starting on an auspicious note, India’s first and fast-growing electric motorcycle manufacturer, Tork Motors, will deliver the first lot of electric motorcycles in Mumbai before Diwali. The motorcycles will be delivered to customers’ doorstep from Tork Headquarters in Pune. The deliveries have been initiated around the festive season to celebrate the evolving scenario […]