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Omax Autos gets revision in credit ratings

From India Ratings and Research

Rajashtan govt working to nurture entrepreneurship: Raje

Rajasthan government's efforts in the digital space are aimed at nurturing entrepreneurship and talent, Chief Minister Vasundhara Raje said today as she inaugurated the country's "largest" incubation centre for startups. "Today, India's largest incubation and acceleration centre for startups is the Bhamashah Techno Hub," Raje said here. The hub would be able to accommodate over 700 startup ventures with 1.50 lakh square feet of incubation space and also help them get connected with potential investors. It would offer free space, connectivity, easier funding, mentorship and exposure to budding startups, according to the state government. Inaugurating the centre, she also said the state government does not work for propagating what it does. "But we don't propagate it. Because, I believe if you spend your time propagating, you actually cannot do the work on the ground," the Chief Minister said. The state government has already announced setting up of a Rs 500 crore startup fund -- ...

Russia's central bank intervenes as ruble hits two-year low

Russia's ruble hit today its lowest level against the dollar for more than two years, a day after the latest round of punitive US sanctions took effect. At around 1300 GMT, the ruble's value dropped to 69 against the dollar for the first time since April 2016, when the shocks from the first Western sanctions over Russia's actions in Ukraine were still being felt. US sanctions came into force yesterday over Moscow's alleged role in the poisoning of former Russian double agent Sergei Skripal and his daughter with the nerve agent Novichok in the British city of Salisbury. The latest sanctions target US exports to Russia that could be worth millions of dollars. The ruble's steep fall prompted the central bank to issue a statement saying it had decided not to buy foreign currency from today to the end of next month. Such daily operations are carried out to balance out the effects of the fluctuating oil price but have a negative effect on the ruble's value. "This decision was taken with the

India fastest growing market for Uber Eats globally: Uber

US-based Uber today said India is the fastest growing market for its food delivery platform Uber Eats and the service is being rapidly expanded to cover more Indian cities. Uber had launched Uber Eats in India in May last year and today expanded the service to five more Indian cities -- Tiruchirappalli, Surat, Nashik, Ludhiana and Mysore -- to now cover 28 cities. "India continues to be the fastest growing market for Uber Eats in the Asia Pacific region and globally. "As urbanisation picks up in the country, we look for opportunities to take our service to newer cities and expand our network, especially in tier II cities, which we believe, offer tremendous potential for the food tech industry," Head of Uber Eats India Bhavik Rathod said in a statement. While the company did not disclose specific numbers, it said the number of orders on its platform has "more than quadrupled" in the last three months and recorded nearly 50 per cent month-on-month growth. Interestingly, Vijayawada and ..

Global recycled lead battery mkt to touch USD 12 bn by 2022

The global market of recycled lead battery is expected to grow 6.5 per cent annually to USD 11.83 billion by 2022 driven by demand from countries like India and Australia, apex mineral body FIMI has said. The demand is coming from both automotive and industrial sectors from all over the world and players of these sectors require lead batteries in huge amount, Sunil Duggal, the newly-appointed President of Federation of Indian Mineral Industries (FIMI), said. "Global market of recycled lead battery is expanding. It is expected to grow to USD 11.83 billion by 2022, at a CAGR of 6.5 per cent from 2017 to 2022," he said. The demand for recycled batteries is coming from Europe and countries like India, Australia, Brazil, China, Mexico, and China, Duggal said. The concept of recycling a battery is a boon for the environment. Batteries comprise metals and heavy metals such as lead, mercury, nickel, and cadmium which can contaminate soil, underground and surface water resources if they go ...

Oil slips as trade dispute outweighs U.S. stock decline

LONDON (Reuters) - Oil prices slipped on Thursday as an escalating trade dispute between the United States and China outweighed news of a decline in U.S. commercial crude inventories.

Wall Street opens flat, with Jackson Hole meet in focus

(Reuters) - U.S. stocks opened flat on Thursday as markets speculated on the future path of interest rate hikes and new tariffs took effect in the U.S.-China trade war.

Uttarakhand wooing drug companies in Telangana

The Uttarakhand government was working on policies for electric vehicles and information technology, among others, the Chief Secretary said.

Mobiistar eyeing to be among top 5 smartphone players in affordable segment; enters Punjab

Vietnamese handset company Mobiistar today announced its entry into Punjab, and said it will aim to be among top five smartphone players in the affordable segment. It has started selling its devices through brick-and-mortar stores in India from this month. Mobiistar also launched a range of 5 selfie centric smartphones in the state. Before foraying into Punjab, the company has recently entered into Pune, Hyderabad, Ahmedabad and Lucknow. The company's new range includes - C1 Lite, C1, C2, E1 Selfie and the X1 Dual. To bolster its operation in Punjab, Mobiistar is going to partner with 45 distributors and 5,000 retailers for its seamless entry to the market, the company officials said at a news conference here. "Chandigarh is among the first few cities in India where Mobiistar will build its stronghold before venturing further. Smartphone penetration is extremely high in Northern India and it is the biggest contributor to the smartphone market in India," Mobiistar Group co-founder and .

Crypto hackers attack Elon Musk's Twitter account again

Despite Twitter attempting to ban scammers and impersonators on its platform, one impersonator broke into Tesla Chairman and CEO Elon Musk's official account on Thursday with a fake lookalike verified account, promising his 22.5 million followers free Bitcoin and ethereum cryptocurrencies.

Fed's George sees more rate hikes, despite Trump - interviews

JACKSON HOLE, Wyo. (Reuters) - The Federal Reserve should raise U.S. interest rates further this year and probably next year as well, despite President Donald Trump's displeasure at tighter policy, Kansas City Federal Reserve Bank President Esther George said in interviews aired on Thursday.

Bayer's Monsanto sued by 8,000 plaintiffs on glyphosate

FRANKFURT (Reuters) - Bayer said the number of U.S. lawsuits brought against newly acquired Monsanto has risen to about 8,000 from 5,200 previously, after Monsanto was ordered to pay damages for not warning of alleged cancer risks of glyphosate-based weedkillers.

Wall Street set to open flat, with Jackson Hole meet in focus

(Reuters) - U.S. stock index futures struggled to move higher on Thursday as new tariffs took effect in the U.S.-China trade war and markets speculated on the future path of interest rate hikes.

Honda firms donate Rs 3 cr for flood relief in Kerala

Honda group companies in India along with their employees today donated Rs 3 crore for Kerala flood relief efforts. Cheques amounting to Rs 3 crore were handed over to the Prime Minister's National Relief Fund today, the companies said in a joint statement. "As a responsible corporate, Honda group in India is committed to contribute in restoration of the devastated infrastructure and helping rebuild lives of the affected people," the companies added. All Honda group companies in India - Honda Motorcycle & Scooter India, Honda Cars India Ltd, Honda Siel Power Products Ltd, Honda R&D (India) and Honda Motor India have contributed towards the reconstruction and recovery of the region. Yesterday, Maruti Suzuki India along with its employees had announced to donate Rs 3.5 crore for relief effort in Kerala. Already, Bajaj Auto, Hyundai Motor India Ltd (HMIL) and TVS Motor have announced contribution towards the relief fund. Other companies such as Tata Motors, Nissan India and BWM ..

TVS launches TVS Radeon to strengthen Commuter Motorcycle Portfolio

TVS Motor Company, a manufacturer of two-wheelers and three-wheelers, today launched a new 110cc commuter motorcycle - TVS Radeon.A unique combination of sturdy metal build, robust style and plush comfort, TVS Radeon is targeted at the confident self-made Indian man. With the inclusion of this offering, TVS Motor Company's robust commuter motorcycle portfolio has been further strengthened with a clear emphasis on developing products which not only meet distinct customer requirements but also create customer delight.At the launch, Sudarshan Venu, Joint Managing Director, TVS Motor Company said, "Over the years, TVS Motor Company's unwavering focus on quality and reliability has yielded contemporary, and attractive products for the market. With segment-leading features, TVS Radeon combines our values to deliver best-in-class durability, performance, and attractive styling. We are confident that the discerning progressive customers across the country will appreciate and swiftly adapt to

SREI Infrastructure Finance update on step down subsidiary - Quippo Drilling International

QOGIL proposes to sell 2,600 Equity shares, constituting 26% shareholding in QDIPL to an overseas entity.

Rupee sinks 30 paise on US rate hike worries, crude spike

The rupee today sank 30 paise to close below the 70-mark against the US currency due to renewed worries about a hike in US interest rates amid global trade war jitters. The domestic currency ended at 70.11 per dollar, a loss of 30 paise or 0.43 per cent over the previous close. In day trade, the rupee had crumbled to a session low of 70.17 per dollar. The rupee suffered its the biggest single-day drop in past one week, snapping a two-straight session recovery trend. Forex sentiment wobbled with a resurgent dollar as currency traders increased their expectations for a fourth interest rate hike this year after the Federal Reserve released its meeting minutes overnight. The US Federal Reserve in meeting minutes indicated that it may hike rates again if the economy stays on track even as it flagged "ongoing trade disagreements and proposed trade measures as an important source of uncertainty and risks". The US dollar launched a spirited recovery from its previous five days of losses and ..

China, US slap USD 16 bn tariff on each others good as trade war escalates

China today slapped 25 per cent tariffs on American imports worth about USD16 billion in retaliation to a similar move by the US as the two economic giants escalated their trade war. US has imposed a steep import tariffs starting today on USD 16 billion of Chinese goods over what Washington has called rampant theft of American technology. The two sides went ahead with the second bout of tariff against each other even as their officials held talks in Washington to find a way out amid the increasing pessimism over an impending solution to end the trade dispute. The escalation came despite Chinese Vice Commerce Minister Wang Shouwen held talks with US Treasury under secretary David Malpass to resolve the dispute. The initiative to resume talks followed a spate of tit-for-tat tariff slapped by both the counties. US President Donald Trump is insisting that China should bring down the trade deficit by USD 100 billion immediately followed by USD 200 billion by improving access to more US ...

Coal India Apr 1-Aug 22 despatch to power sector up 13pc on-yr

Coal India Ltd's despatch to the power sector between April 1 and August 22 rose 13 per cent on-year to 186.92 million tonnes, company officials said today. The state-run miner said the increased supply has helped bring down the number of plants in the list of critical stock from the level of 30 as on April 1 to 14 as on August 20, they said. Mining activities typically pass through a low phase of production during the monsoon season with incessant rains hampering operations at open cast mines. "Yet, CIL despatched over 21 MT more to the power sector during the current year and the mines are still holding a pothead stock of over 26 million. There is no shortage of coal with CEIL, and supplies will get a boost as the monsoon recedes and production picks up," a CEIL official said. In West Bengal, none of the power plants fall in the critical stock category, as per a CE report dated August 20. The mining behemoth supplied 57.25 million tonnes of coal to NT PC Ltd during the

Board of Kennametal India approves change in directorate

At meeting held on 23 August 2018