Business

Business

Renewables: ONGC to invest Rs. 1 lakh crores by 2030 in low-carbon energy

August 17, 2023 Vinayak Barot

Virendra Pandit New Delhi: India’s state-owned behemoth Oil and Natural Gas Corporation (ONGC) will invest Rs. 1 lakh crore by 2030 in low-carbon energy opportunities, including renewables and green hydrogen as it looks to transform into a low-carbon energy player, the company said on Thursday. India’s largest crude oil and natural gas producer said […]

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Business

LOI: Bahrain Steel, Essar ink agreement for iron ore pellet supply

August 17, 2023 Vinayak Barot

Mumbai: Bahrain Steel Company, a Foulath Holding subsidiary and a leading producer, and global supplier of high-grade iron-ore pellets, has partnered with India’s multinational conglomerate Essar Group for the supply of iron ore pellets to the Green Steel Arabia (GSA) project. For this, they signed the Letter of Intent (LOI) on Wednesday in Jubail, Saudi […]

Business

GQG, other investors invest $1.1 bln for 8.1 pc stake in Adani Power

August 16, 2023 Vinayak Barot

New Delhi, Aug 16, US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore (USD 1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani’s group. GQG […]

Business

Technology: Environmentalists exit en masse from Elon Musk-run X

August 16, 2023 Vinayak Barot

Virendra Pandit New Delhi: Environmentalists have exited en masse from the Elon Musk-run microblogging platform Twitter-turned-X, the media reported on Wednesday. Nearly half the environmentalists active on Twitter, now X, left the platform in the 6 months following Musk’s takeover, which could have serious implications for public discourse surrounding issues such as biodiversity, climate […]

Business

Apache: Boeing starts production of the Indian Army’s helicopters

August 16, 2023 Vinayak Barot

Virendra Pandit New Delhi: The US-based aerospace major Boeing Company has started production of state-of-the-art Apache combat helicopters for the Indian Army, the firm said on Wednesday. The delivery of the Indian Army’s Apaches is scheduled for 2024. Earlier this year, Tata Boeing Aerospace Ltd (TBAL) delivered the Indian Army’s first AH-64 Apache fuselage […]

Business

EVs: The Center clears Rs.57k crore scheme to push electricity-run bus services

August 16, 2023 Vinayak Barot

Virendra Pandit New Delhi: In a major push to introduce electricity-run public transport in India, the Union Cabinet on Wednesday approved the “PM-eBus Sewa” to provide a big boost to green mobilities across the urban centers. Union Minister Anurag Thakur told reporters in the national capital that the scheme will augment city bus operations, […]

Business

Telecom: After China, India is now the second-largest mobile phone maker

August 16, 2023 Vinayak Barot

Virendra Pandit New Delhi: After China, India has become the second-biggest mobile phone-making country in the world. China accounted for 67 percent of global handset production in 2021. Mobile phone shipments from India crossed the 2 billion cumulative units mark under the “Make in India” initiative during 2014-2022, the media, quoting global company Counterpoint Research, […]

Business

Roving Periscope: Niger’s junta to prosecute toppled President for ‘high treason’

August 14, 2023 Vinayak Barot

Virendra Pandit New Delhi: Western African landlocked nation Niger’s military regime announced on Sunday to prosecute ousted President Mohamed Bazoum for “high treason” and slammed West African leaders for imposing sanctions on the country. On Saturday last week, New Delhi advised about 250 Indians stranded in Niger, a former French colony, to leave the […]

Business

The case of Deloitte in the IL&FS crisis underscores the need to reassess and strengthen mechanisms for holding auditors responsible

August 14, 2023 Vinayak Barot

In the complex world of financial oversight, auditors hold a position of utmost importance. Their role involves verifying financial statements and ensuring transparency, which in turn maintains the integrity of corporate practices. However, recent financial scandals have raised doubts about auditors’ accountability, particularly when their own involvement is suspect. The case of Deloitte in the […]

Business

Technology: OpenAI may go bankrupt in 2024!

August 14, 2023 Vinayak Barot

Virendra Pandit New Delhi: In the fast-changing Artificial Intelligence domain, OpenAI, which came with a bang in 2022, may go bankrupt in 2024, the media reported. The reason is the exorbitant costs involved to run OpenAI’s tool ChatGPT which took the world by storm this year. Initially, Microsoft announced a new multiyear, multibillion-dollar investment […]