Three motorcycles were set on fire on Thursday night in Pataudi area here, police said. The motorcycles were parked outside Rashid Auto Works near Chungi no. 4 while a mechanic was sleeping inside the shop. Firefighters doused the flames and rescued the mechanic, police said. Sporadic incidents of arson have been reported… Continue reading 3 motorcycles set on fire in Pataudi area, says police
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BoE set to join Fed in raising interest rates again amid high UK inflation
The Bank of England is set to raise interest rates Thursday for the 14th time in a row to a fresh 15-year high and keep the door open for further increases in the months to come as it tries to tamp down persistently high inflation. Most economists think the UK central bank will… Continue reading BoE set to join Fed in raising interest rates again amid high UK inflation
IndiGo to set up LLP for venture capital investments in early stage firms
IndiGo’s Chief Financial Officer Gaurav Negi said it will be going for regulatory approvals for setting up the LLP and that internal discussions are happening about the possible investments. InterGlobe Aviation will set up a venture capital arm to make investments in early stage companies that are into aviation, consumer and allied sectors. … Continue reading IndiGo to set up LLP for venture capital investments in early stage firms
Sebi, APMI jointly set standards for performance audit of PMS players
The Securities and Exchange Board of India (Sebi) and Association of Portfolio Managers in India (APMI) will jointly set standards for performance audit of portfolio management services (PMS) players. After Sebi’s recent tightening of norms, PMS players are required to conduct a performance audit annually and submit a report within 60 days after the… Continue reading Sebi, APMI jointly set standards for performance audit of PMS players
Banks’ profitability may have reached peak, set to fall: Mckinsey
Banks’ profitability may have reached its peak and is set to fall going ahead due to a slew of factors, global consultancy Mckinsey & Company said on Wednesday. The firm also said that the banking system is meeting less than a third of the credit demand for green finance, and recommended moves like… Continue reading Banks’ profitability may have reached peak, set to fall: Mckinsey
NLC plans to set up 2,400 MW thermal plant in Odisha for Rs 19,422 crore
The plant will be set up at an investment of Rs 19,422 crore at Talabira in Odisha, the Ministry of Coal said in a statement on Wednesday. NLC India Ltd is planning to set up a 2,400 MW coal-based plant in Odisha. The plant will be set up at an investment of Rs… Continue reading NLC plans to set up 2,400 MW thermal plant in Odisha for Rs 19,422 crore
NLC along with UP govt to set up 1,980 MW thermal plant for Rs 19,406 cr
The 1,980 MW plant will have three units of 660 MW each. The first phase of the project will start generating power by the end of this year, the statement said. NLC India Ltd has entered into a joint venture with the UP government to set up a thermal power plant at a cost… Continue reading NLC along with UP govt to set up 1,980 MW thermal plant for Rs 19,406 cr
GlobalFoundries on the lookout for local partners to set up India chip fab
Operations are expected to start from the unit in 2024 (Photo: Bloomberg) US semiconductor firm GlobalFoundries is looking for local partners to set up a chip fabrication unit, according to a report in The Economic Times (ET). Earlier, GlobalFoundries had held discussions with a few companies from the country. But due to the… Continue reading GlobalFoundries on the lookout for local partners to set up India chip fab
K’taka govt & IBC ink pact to set up recyclable Lithium-ion battery plant with Rs 8,000 cr investment
Karnataka CM Siddaramaiah (right) and Karnataka Dy CM D K Shivakumar, (Photo: PTI) The Karnataka government and US-based International Battery Company (IBC) on Tuesday signed a memorandum of understanding (MoU) to set up a recyclable Lithium-ion battery manufacturing unit at an outlay of Rs 8,000 crores (USD 1 BN) in the state. IBC… Continue reading K’taka govt & IBC ink pact to set up recyclable Lithium-ion battery plant with Rs 8,000 cr investment
In fresh violence, eatery set on fire in Gurugram, shops vandalised
Gurugram: Police personnel stand guard to maintain law and order after clashes between two groups, at Sohna in Gurugram district, Tuesday, Aug 1, 2023. The clashes erupted following an attempt to stop a VHP procession in nearby Nuh district which spr A mob set fire to an eatery and vandalised adjoining shops in Gurugram’s… Continue reading In fresh violence, eatery set on fire in Gurugram, shops vandalised