“No Less Than A Goldmine”: PM Modi On India’s Green Energy Potential
In a post-budget webinar on green energy, on February 23, Prime Minister Narendra Modi stated that the Union Budget 2023 will present a vast range of investment prospects, including the National Green Hydrogen Mission, ethanol blending, battery storage, and vehicle scrapping, to bolster India’s green energy initiatives. PM Modi encouraged investors to capitalise on India’s […]
Vendata-Foxconn Finalises Dholera SIR Site For India’s First Semiconductor Facility
Indian conglomerate Vedanta and electronics manufacturing giant Foxconn have finalised the Dholera Special Investment Region in Gujarat as the location for their semiconductor and display manufacturing facility. This joint venture company signed a Memorandum of Understanding (MoU) with the Gujarat government in September 2022, to invest Rs 1,54,000 crores and set up the plant in […]
Twitter Shuts Down Two Out Of Three Indian Offices
On February 17, Twitter shut down its Mumbai and New Delhi offices with only three employees including the country lead and two people covering the north, east, south, and west regions being asked to work from home. Meanwhile, Twitter’s Bengaluru office continues to be operational in a shared space where the majority of staff engineers […]
Britain’s Financial Conduct Authority Undertakes Probe Into Barclays
The Financial Times released a report on February 10, which states that Barclays PLC is being investigated by the United Kingdom’s financial regulator for suspected persistent failings in its compliance and anti-money laundering systems. According to people with knowledge of the matter, last year, Britain’s Financial Conduct Authority (FCA) issued a notice requesting an independent […]
Adani Deliberates Independent Review After Public Angst Over Hindenburg Fallout
In its quarterly earnings disclosure of three Adani units, the Adani Group shared, on February 7, that it is considering an independent evaluation of issues relating to legal compliance, related party transactions, and internal controls. The statement comes following the publication of the US-based short-seller Hindenburg Research’s critical report on January 24, which highlighted numerous […]
Union Budget Draws Key Focus On ‘Green Growth’
The Union Budget 2023-24 presented in the Parliament on February 1, by Finance Minister Nirmala Sitharaman, saw increased importance given to reducing the carbon intensity that the Indian economy is responsible for. The Budget highlighted India’s push to meet clean energy targets and scale up green job opportunities. The finance minister highlighted ‘green growth’ as […]
Global Financial Stability Board To Propose Crypto Regulations In October
The Financial Stability Board (FSB) made a statement on July 11 that recommendations on subjecting crypto-assets to regulation and supervision will be presented to the G20 finance ministers and central bank governors in October. The international body plans on providing regulatory and supervisory aspects of stablecoins and other crypto-assets. The Basel Committee on Banking Supervision […]
India Should Decrease Edible Oil Imports To Become Self-Reliant: Report
Rating and research firm CareEdge has released a report titled ‘India’s Bid to Reduce Imports and Become ‘Atma Nirbhar’, which highlights India’s significant reliance on edible oil imports that could pose an issue to India’s national interest in the long run. The report says that it is imperative for India to become not only self-reliant, […]
Oil Prices Rebound And Boost World Stocks Over US Holiday Weekend
On July 4, oil prices rebounded despite concerns of tight supplies, leading to world stocks receiving a much-needed push during the US holiday weekend. The development comes as a relief, as lower oil output from the Organization of the Petroleum Exporting Countries (OPEC), unrest in Libya, and sanctions on Russia have outweighed the fears of […]
Reliance Industries Stocks Rise By 2 Percent After Acquiring 40 Percent Stake In Italy’s Plastic Legno SPA
On June 2, the Reliance Industries Ltd (RIL) stocks went up by over 2 percent after Reliance Brands Limited (RBL) signed a joint venture arrangement with Plastic Legno SPA, to strengthen the toy manufacturing ecosystem in India. Despite the volatile market, RIL shares rose by upto 2.18 percent to reach Rs 2,728.30, against the previous […]
