Automobile manufacturer Nissan Motor is considering to seek a business partnership with peer Honda Motor on key components for electric vehicles to cut production costs, reported Reuters News Agency based on sources from Nissan on Friday. The details of the partnership are not disclosed as the discussions are in the stage of conception. The partnership […]
National Payments Corporation of India (NPCI), on Thursday, officially authorized Paytm’s Parent One97 Communications Limited (OCL), to participate in the unified payments interface (UPI) as a Third-Party Application Provider (TPAP) within the multi-bank model. Amid the ongoing regulatory issues from the Reserve Bank of India (RBI), One97 Communications is looking to lay off 20% of […]
Automobile manufacturer Tata Motors Group, on Wednesday, signed a memorandum of understanding (MOU) with the Government of Tamil Nadu, India to initiate an investment of ₹9,000 Crore ($1.09 billion) and establish vehicle manufacturing in the state. The automotive firm said the investment will be made in five years and is aiming to create 5,000 direct […]
Power generator RWE, on Wednesday, initiated the construction of its solar farms in the United Kingdom, which includes seven projects representing 330 megawatts (MW). The solar project is launched after the acquisition of JBM Solar, UK-based renewables developer. The deal included 6.1 gigawatts (GW), split into 3.8 GW capacity of solar and 2.3 GW of […]
Reliance Industries agreed to purchase the entire 13.01% equity interest of certain Paramount Global’s subsidiaries in Indian conglomerate-owned Viacom18 Media for a value of ₹4,286 Crore ($517 million) on Wednesday. Reliance, in a joint venture with The Walt Disney agreed to invest ₹11,500 Crore to support the brand’s expansion goal. The company valued the deal […]
Financial service provider Khaleeji Bank, on Wednesday, collaborated with its peer Eskan Bank to provide Shari’a-compliant Home Financing solutions, also known as Islamic home finance to citizens. Under this agreement, the banks will finance under the ‘Joint Guarantee’ program with an aim to provide a diverse range of banking products and services and promote economic […]
Motor vehicle manufacturing Ola Electric planned to launch Raahi, an electric autorickshaw manufactured by the company and marketed directly to consumers, reported the Economics Times (ET) on Wednesday, which is expected to enter the market in late March. There is a peak rise in market presence for electric vehicles, including bikes, cars, buses, and autorickshaws, […]
Hypermarket brand Vishal Mega Mart, on Tuesday, planned an initial public offering (IPO) for $1 billion, reported Reuters News Agency based on source data and said, this move is projected to put the budget supermarket chain’s value at close to $5 billion. Based on the Reuters report, Switzerland’s Partners Group and India’s Kedaara Capital both […]
Logistics firm Etihad Cargo partnered with Awery Aviation Software, aviation and aerospace component manufacturing firm on Wednesday, to meet the growing demand for charter services due to the global rise in the e-commerce sector. The cargo service provider said it has implemented a customized version of Awery’s Enterprise Resource Planning (ERP) to manage its Cargo […]
Automation machinery manufacturer Schneider Electric collaborated with United Technology of Electric Substations and Switchgears (UTEC), electronic power distributor on Tuesday, to enhance local value creation within Schneider Electric’s data center business. Subsidiary of Bawan Group, UTEC will integrate Schneider Electric’s modular data center systems using its local resources and expertise, which includes engineering, design, manufacturing, […]
Technology services and consulting company Wipro, on Monday, partnered with Nutanix to launch a new business unit to aid mutual clients in maximizing the value of Nutanix Cloud investments and accelerating digital and hybrid multi-cloud journeys of the multi-cloud computing company. Wipro said this partnership aims to establish highly robust, durable, and agile cloud operating […]
S&P Global Ratings forecast economic growth of 2% to 3% in the Gulf Cooperative Council (GCC) region in 2024 on Monday, with sustained oil-related growth and a solid 4% to 5% rise in the non-oil economic activity in the UAE and Saudi Arabia benefitting from large public investments and FDIs (Foreign Direct Investments). S&P Global […]
Defence Research and Development Organisation (DRDO), on Monday, carried out the first successful flight test of the Agni-5 missile, a homegrown weapon that uses multiple independently targetable re-entry vehicle (MIRV) technology. Mission Divyastra was an aerial test carried out from Dr APJ Abdul Kalam Island, in the state of Odisha, said Press Information Bureau (PIB). […]
Renewable energy company Adani Green Energy Limited (AGEL), on Tuesday, operationalized a cumulative capacity of 1,000 megawatts (MW) solar energy project at renewable energy park at Khavda, Gujarat. The renewable energy project installed about 2.4 million solar modules and is expected to be finished in the next five years, creating over 15,200 green jobs, said […]
South Korean LG Electronics (LG), on Monday, said it will acquire a majority stake in the California-based start-up Bear Robotics through an investment of $60 million as part of LG’s expansion and advancement in service robotics. The electronics company said, upon the closing of the deal, LG will hold the largest portion of shares in […]
