 "Top headlines: Ford shuts India plants, S&P revises Bharti Airtel outlook")
Ford India will stop manufacturing vehicles in India but retain the engine-making and technology services business. S&P Global on Thursday revised telecom firm Bharti Airtel’s outlook to “stable” from “negative".
Here are the top headlines of the day:
Ford to stop making vehicles in India amid mounting losses and poor sales
Ford India will stop manufacturing vehicles in India but retain the engine-making and technology services business (Global Business Services) as part of restructuring its India operations. Approximately 4,000 employees are expected to be affected by this. Read more. . .
S&P Global revises Bharti Airtel outlook to 'stable' from 'negative'
Ratings agency S&P Global on Thursday revised Bharti Airtel’s outlook to “stable” from “negative,” on the back of the company's operating fundamentals and superior leverage management. Read more. . .
India's industrial sector grows, manufacturers continue to struggle
India’s industrial sector has seen a recovery from the lows of the first wave of the pandemic last year but the revival is being led by commodity producers such as metals and oil & gas companies while manufacturers such as auto firms and makers of consumer goods continue to struggle. Read more. . .
China's app ban proves to be a jackpot for Indian mobile apps
Eighteen months after the government started banning Chinese mobile apps, two distinct changes have occurred in the country’s mobile app sweepstakes. The move has given a thrust to domestic app publishers, especially in certain segments and it has dramatically reduced the market share of Chinese apps. Read more. . .
All eyes on Central Bank, Indian Overseas Bank after UCO exits PCA
After UCO Bank's exit from the prompt corrective action (PCA) regime, two public sector lenders - Indian Overseas Bank and Central Bank of India - are waiting to get out of the framework as well. The Reserve Bank of India (RBI) is examining the performance of both banks. Read more. . .
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