BUSINESS
PM Modi Affirms India's Global Role as a Growth Engine, Trusted Ally, and Pillar of Stability
Addressing the rapidly changing world order, PM Modi characterized India as 'vishwa mitra' or a friend of the world. He highlighted the consensus among major rating agencies that India is poised to become one of the world's top three economies in the coming years.
ArcelorMittal's Hazira Site Set to Become World's Largest Single-Location Integrated Steel Plant
Speaking at the Vibrant Gujarat Summit 2024 in Ahmedabad, Mittal expressed confidence in commissioning the full site within the next five years, thanks to the support from the Gujarat government. He emphasized that ArcelorMittal is not only investing in steel but also venturing into emerging sectors like renewable energy and green hydrogen.
SBI's Planned Dollar-Denominated Bond Issuance Receives BBB- Rating from S&P and Fitch
According to S&P, "S&P Global Ratings today assigned its 'BBB-' long-term issue rating to benchmark-sized notes that the London branch of State Bank of India (SBI) proposes to issue."
Global Business Leaders Praise PM Modi’s Vision Amid Unveiling of Investment Plans
Sanjay Mehrotra, CEO of Micron, expressed gratitude for PM Modi's vision to open semiconductor manufacturing in India. Micron's facility in Gujarat aims to be operational by early 2025, creating numerous direct and community jobs.
7.3% GDP Growth Very Positive, Economic Climate Encouraging: SBI Chairman
The GDP growth forecast of 7.3% surpassed earlier predictions, including the Reserve Bank of India's upward revision from 6.5% to 7%. Khara refrained from discussing the State Bank of India's business outlook due to the institution's current silent period.
HPE Set to Acquire Juniper Networks for $14 Billion, Aiming to Enhance AI-Driven Innovation
Upon the completion of this acquisition, Juniper's CEO Rami Rahim will take the helm of the combined HPE networking business, reporting directly to HPE's President and CEO, Antonio Neri.
Adani to invest Rs 2 lakh crore in Gujarat, Gautam Adani
Addressing the Vibrant Gujarat Global Summit, Adani emphasized that this substantial investment is expected to generate a staggering 1 lakh employment opportunities.
AM/NS to Construct World's Largest Single Location Integrated Steel Plant in Gujarat, Confirms Lakshmi Mittal
This monumental project aims to yield a capacity of 24 million tonnes of crude steel and is projected to be operational by 2029. Mittal highlighted the company's commitment by revealing the agreement for the plant's second phase, solidifying their partnership with the Gujarat government.
Investors Issue Warnings to Governments Regarding High Levels of Public Debt, Report Indicates
Emerging markets are also anticipated to contribute significantly to the surge in bond sales, with government debt reaching an unprecedented 68.2% of GDP last year, as reported by the Institute of International Finance and the Financial Times.
World Bank Forecasts Global Growth to Slow for Third Consecutive Year in 2024
The report reflects a downward trend from the 6.2 percent growth in 2021, attributed to the pandemic's low base impact, to 3 percent in 2022, and then 2.6 percent in 2023.
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