BUSINESS
Samsung to invest $355 bn in chip, bio industries for next 5 years
The company said it will spend 360 trillion won, or 80 per cent of the investment, for research and development, and talent nurturing in South Korea, especially in advanced chipmaking. Samsung Electronics and Samsung Biologics will lead the investment in their respective business areas, it said. The planned investment is up 120 trillion won from the total 330 trillion won Samsung invested over the past five years.
Coal consumers highlight spiralling coal auction prices, seek urgent relief
In its representation addressed to the Union Minister of Coal, the CCAI has now sought urgent support in providing relief to beleaguered coal buyers in the country, many of whom have been compelled to idle their captive power plants in the absence of sufficient supplies.
Delhivery lists with mild premium, surges sharply later
Delhivery is India's leading supply chain services company in the domestic and international space. The scrip listed on BSE at Rs 493 per share, up 1.2 per cent from its issue price of Rs 487, whereas on NSE at Rs 495, up nearly 2 per cent. Later, at the time of writing this report, the scrip, however, traded 9 per cent higher at Rs 530.
EV ride-hailing platform BluSmart raises $25 mn, to add 5K electric cars
BluSmart said that its EV ride-hailing platform aims to add 5,000 electric cars and scale up its EV Superhubs across the Delhi-NCR. "BluSmart has been able to scale 25 times since its launch. BluSmart is creating inclusive and equitable economic opportunities for driver partners who can drive and earn without the hassles of asset ownership," said Anmol Jaggi, Co-Founder and CEO.
Adani, Karuna Nundy, Khurram Parvez among TIME's '100 most influential people of 2022'
Adani is an industrialist, who had just last month, edged past Warren Buffet to become the 5th richest man in the world, is owner of multiple top-brands across sectors. "Adani's once regional business now spans airports, private ports, solar and thermal power and consumer goods," read his profile by TIME.
Zomato's consolidated loss triples to Rs 360 cr as expenses mount
The company's expenses almost doubled to Rs 1,701.7 crore in the March quarter, compared with Rs 885 crore a year ago, according to the company's regulatory filing. "Yes, we did see a low QoQ growth in Q3FY22 as dining-out and travel opened up post Covid. We believe that was a one time correction of our growth trajectory on the back of two strong quarters," Zomato CEO Deepinder Goyal said.
Jhunjhunwala-backed Akasa Air reveals aircraft picture, says 'coming soon'
Through a Twitter post, it attached a picture of the aircraft with the caption: "Can't keep calm! Say hi to our QP-pie!." In another tweet, it said: "Coming soon to Your Sky." The low-cost carrier plans to offer commercial flights starting in the summer of 2022 and use its new fleet of 737s to meet the growing demand across India.
Centre's intervention on steel, cement: Here's what realtors have to say
Besides, a cut in central excise duty on petrol by Rs 8 per litre and Rs 6 per litre on diesel to check inflation is another timely taken progressive step. Owing to the surge of property prices, the realty sector has been urging the Centre to take necessary measures that will ease the burden on the developers. These latest moves would spike housing demand among consumers, realtors believe.
Battery industry sales to cross $168 bn 2030 amid raw material shortages
The battery industry is set to be one of the most significant over the next 10 years. A compound annual growth rate (CAGR) of 14 per cent is expected by 2030, mostly driven by sales from lithium-ion batteries. The battery industry is set to be one of the most significant over the next 10 years. A compound annual growth rate (CAGR) of 14 per cent is expected by 2030, mostly driven by sales from lithium-ion batteries.
India, US sign new Investment Incentive Agreement in Tokyo
India and the US on Monday signed an Investment Incentive Agreement, which supersedes the earlier such agreement signed between the two countries in 1997, an official statement said. The agreement was signed in Tokyo by India's Foreign Secretary Vinay Kwatra and US International Development Finance Corporation's Chief Executive Officer Scott Nathan.
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