BUSINESS
Tata Motors to acquire Sanand plant, signs MoU with Ford, Gujarat govt
The MoU included land and buildings; vehicle manufacturing plant; machinery and equipment; and besides transfer of all eligible employees of Ford India's Sanand's vehicle manufacturing operations, subject to the signing of definitive agreements and receipt of relevant approvals, the automaker said in a regulatory filing.
EOGEPL Q4 FY22 results: Revenue rises 118% YoY to Rs 148 crore
The company had posted a revenue of Rs 68 crore for the same quarter previous fiscal. Core EBITDA grew by 32 per cent QoQ to Rs 115 crore from Rs 87 crore in the same quarter previous fiscal. Sales volume grew by 42 per cent YoY whereas sales price realization increased by 55 per cent YoY and Gas production grew by 17 per cent YoY at 0.77 mmscmd.
China leading the world in EVs, renewable energy: Musk
In a tweet, Musk said: "Few seem to realise that China is leading the world in renewable energy generation and electric vehicles. Whatever you may think of China, this is simply a fact." Musk, who has refused to manufacture Tesla cars in India unless the government is allowed to sell and provide service to its electric vehicles, has always praised China and its work culture.
Australian watchdog sues Mastercard for anti-market practices
Mastercard's alleged anti-competitive conduct commenced in late 2017 in the context of the Reserve Bank of Australia's "least cost routing" initiative, aimed to increase competition in the supply of debit card acceptance services and reduce payment costs for businesses by allowing them to choose the lowest cost network to process their transactions.
Afghan central bank to implement 'Islamic Banking System'
Sabir Momand, the spokesman of Da Afghanistan Bank (DAB), however did not elaborate on the details of the new system, reports TOLO News. "The implementation of the Islamic banking system will be a long process and it is being enforced in many foreign countries and it will come into effect gradually in Afghanistan as well," he said.
Indices extend gains from previous week, Sensex up over 800 pts
At 9.42 a.m., Sensex was 820 points up at 55,705, whereas Nifty 241 points up at 16,594 points. Other Asian markets too were in the green. Indices jumped as investors are reacting to growing optimism that the US Federal Reserve will be able to tighten the monetary policy without tipping the economy into recession, said Mohit Nigam, Head, PMS, Hem Securities.
Amazon in self-serving act to destroy FRL at any cost, say FRL independent directors
In a reply to Amazon, the directors said in a letter, "Your feigned concern over the state of affairs in FRL is a falsehood and an attempt to gloss over this inconvenient truth." "Your letters are not motivated by the concern or interest of FRL stakeholders, but only as a self-serving act to destroy FRL at any cost," they added.
After Tesla, SpaceX to accept Dogecoin for merchandise soon
Tech billionaire Elon Musk said that his aerospace company SpaceX will soon accept Dogecoin as a payment option for merchandise, joining Tesla.The electric vehicle company started accepting the cryptocurrency in January, reports Teslarati. Musk, a frequently vocal supporter of some cryptocurrencies, announced on Twitter, first reiterating that Tesla merch could be bought with the crypto.
Momentum with markets: Expect further upmove
On each of the three days of losses, markets had opened positive and were up for a sizeable part of the day before selling brought the markets down and turned negative. On Thursday, markets were weak and recovered form the lows to record gains. BSE-SENSEX gained 558.27 points or 1.03 per cent to close at 54,884.66 points while NIFTY gained 86.30 points or 0.53 per cent to close at 16,352.45 points.
Startup founders must brace for economic slowdown: Zoho's Sridhar Vembu
As startups face the wrath of global macro-economic factors like the Russia-Ukraine war, high inflation, rising interest rates and Chinese lockdowns with laying off the workforce and shutting divisions, the "course correction is coming to India and the founders must prepare themselves for a long-haul innings to survive the slowdown.
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