Page 561 - Industry News

Large part of Rs 11 trn capex for FY25 to flow into energy sector: PM Modi

The Interim Budget, presented on February 1, projected a capex of Rs 11 trillion for next year, up from Rs 10 trillion in FY24

Chipmakers warn of subdued demand from industrial, wireless tech segments

A slowdown in industrial production was also apparent at competitors STMicroelectronics NV and Texas instruments Inc., which both gave disappointing forecasts last month

Paytm crackdown spooks merchants; Walmart, Google targeting same vendors

Cash was once king in India, but Paytm is credited with revolutionising India's digital payments market which is set to be worth $10 trillion by 2026

Mumbai, Bengaluru in top 10 cities with highest home price rise in APAC

In the region, Singapore saw the highest price rise followed by Perth and Brisbane

Digital commerce platform OTO raises $10 mn from K L Rahul, others

Digital commerce platform OTO on Tuesday said it raised USD 10 million (around Rs 83 crore) from a clutch of investors, including cricketer K L Rahul

India to see investment of $67 bn in next 5-6 years in energy sector: PM

India, Modi said, is the third-largest consumer of crude oil and LPG and the fourth-largest importer of LNG

Shapoorji Pallonji Real Estate eyes Rs 250 cr revenue from new project

Shapoorji Pallonji Real Estate is expecting over Rs 250 crore revenue from its new housing project in Mumbai and has raised Rs 55 crore to finance the development.

On Paytm crisis, startup founders write to PM, RBI to review curbs: Report

Paytm crisis: Last Wednesday, the RBI prohibited Paytm Payments Bank from accepting further deposits, crediting any transactions on customer accounts, digital wallets, etc, beyond February 29

Finance ministry asks banks to expeditiously resolve issues of exporters

Insurance related issues faced by traders were discussed with IRDAI and progress made on those issues were informed by IRDAI, the statement said

'Marginal' dip in manufacturing jobs during Covid-19 pandemic: ASI

According to ASI data, the employment in the manufacturing sector during the Covid pandemic year (FY21) declined by 3.2 per cent (year-on-year) to 16.08 million

Cement sales growth in Q3 subdued at 3-4%, say industry executives

Industry executives attributed the impact on demand to a host of factors, including floods in South India, construction bans in the National Capital Region, and fiscal challenges in Bihar, Jharkhand

Govt puts Vedanta Group's mega fab unit proposal on the back burner

The vedanta Group's joint venture (JV) with leading technology service provider, Foxconn, fell through last year

Govt to review tax on online gaming after March: Revenue Secy Malhotra

Online gaming companies including Delta Corp. and Tiger Global-backed Dream11 have seen an increase in demands and notices from tax authorities amid a crackdown on alleged tax evasion

Aluminium, Bauxite industries: Govt extends 'public utility' tag deadline

A public utility service refers to an industry or service considered essential for the community's well-being and functioning

Nalco, NLC India among 10 companies submit bids for coal mines for auction

'The nominated authority, Ministry of Coal has opened bids for the 8th round and second attempt of the 7th round of commercial coal mines' auction today (Monday),' the statement said

Airlines cancel 7,427 flights in 2023 for various reasons: VK Singh

''Eleven domestic airlines, including now grounded Go First, cancelled a total of 7,427 flights, including 3,210 flights cancelled on account of weather and 2,109 due to technical reasons,'' he said

Legal safeguards for independent directors vital to attract top talent

CII has suggested that proceedings against IDs may be initiated only once there is prima facie evidence of their possible involvement in the matter, rather than as a matter of course

Indian toy manufacturers receive orders worth $10 mn at German fair

The exporters said buyers from countries such as the US, the UK, South Africa, and Germany showed interest in their products and placed a good number of orders

Global chip sales forecast to jump 13% after rocky 2023: Industry group

The Semiconductor Industry Association (SIA) forecast a 13.1% jump in global chip sales to $595.3 billion, compared with a drop of about 8% in sales in 2023

Coal production increases by 10.3% to 99.73 million tonne in January

The coal production in the April-January period rose to 784.11 MT (Provisional) over 698.99 MT during the same period in 2022-23, the coal ministry said in a statement