TCS, for instance, is acquiring Porsche’s technology subsidiary MHP for $373 million. BENGALURU: It is, in many ways, a captive centre redux. Buy the captive, win the bigger deal. That is increasingly becoming a playbook for Indian IT companies, which are acquiring client technology units and specialised businesses to anchor much larger, long-term partnerships.But the…
JSW MG Motor India has launched Hector Tomahawk as an EV and plug-in hybrid electric vehicle. MUMBAI: JSW Group and China’s SAIC are discussing additional capital for MG Motor India to eventually scale the company’s Halol plant capacity to 1 million vehicles annually from the current 2,20,000. The JV, owned 35% by JSW and 49%…
According to top sources in govt, Foxconn executives have surveyed the plot of land near Sanand. GANDHINAGAR: Taiwan-based Hon Hai Technology Group, better known as Foxconn, the world’s leading electronics contract manufacturer, is scouting for a land parcel of more than 200 acres to set up a technology park and high-end electronics manufacturing facility. Apart…
Air India is seeking $1.5 billion in fresh equity from Tata Sons and Singapore Airlines after reporting a record $2.33 billion loss NEW DELHI/MUMBAI: Air India has returned to its shareholders for $1.5 billion, more than a year after Tata Sons halted fresh equity injections into the airline, as its turnaround proves costlier and slower…
Profits pulled sharply ahead of investment in FY24 (Representative image) MUMBAI: Corporate profits have recovered much faster than investment after the pandemic, with aggregate profit before interest and tax (PBIT) growing 21.4% in FY24 against 6.1% growth in gross fixed assets (GFA), an Economic Advisory Council to the Prime Minister working paper has found.Profitability itself…
Headline CPI inflation increased marginally in July. MUMBAI: The Indian economy remains resilient despite external headwinds, but below-normal monsoon prospects, higher crude oil prices, geopolitical tensions and global trade uncertainty pose risks to growth and inflation, according to the State of the Economy article in RBI’s Aug bulletin.The assessment also pointed to firm domestic demand,…
In its clarification, Federal Bank said it evaluates opportunities for growth and expansion in the ordinary course of business. MUMBAI: Shares of Federal Bank closed 3% lower on Tuesday after reports that the lender was pursuing a merger with Jana Small Finance Bank, while Jana SFB fell 2% as sensex closed flat. Both banks later…
Gold is currently trading at around $4,600. A tenfold increase from that level would put the price at roughly $46,000 an ounce. (Image source: Adobe stock) Will gold prices hit $50,000 per ounce in the coming years? Thomas Kaplan, the chairman of Electrum, and a billionaire has predicted that the yellow metal may rise as…
The crackdown also includes tougher vetting of H-1B applicants, including scrutiny of their social media profiles and resumes. The Trump administration is tightening the US immigration system on multiple fronts, with new restrictions affecting immigrant visas, H-1B workers, green card applicants and some existing visa holders.The latest moves include a global pause in immigrant visa…
Remittances rose 6.5% month-on-month to $2.5 billion in June, nearly 20% higher than a year earlier. MUMBAI: RBI turned a net purchaser of US dollars in June this year, buying $561 million in the spot and over-the-counter market after net sales of $6.1 billion in May and $3.6 billion in June 2025.According to the central…
