Business

Business

Roving Periscope: Biden prohibits new investments in China’s high-tech cos

August 10, 2023 Vinayak Barot

Virendra Pandit New Delhi: Aiming to prevent American capital and innovations from helping China develop high technologies, that could support its military modernization and undermine the US national security, President Joe Biden has ordered a ban on fresh investments in those sectors in the Asian country. In a letter to the US Congress, he […]

Business

Lifestyle: Fruits and veg brand Pluckk partners with Kareena Kapoor Khan

August 10, 2023 Vinayak Barot

Mumbai: Pluckk, India’s leading lifestyle-oriented fresh fruit and vegetables brand, has partnered with actor Kareena Kapoor Khan as an investor and brand ambassador. Mumbai-based Pluckk, India’s first plastic-neutral f&v brand founded in 2021, offers over 400 items across more than 15 categories, including essentials, exotics, hydroponics, and cuts and mixes. The diverse catalog also includes […]

Business

Confidence: From fragile to foremost economy in 9 years, says Sitharaman

August 10, 2023 Vinayak Barot

Virendra Pandit New Delhi: Asserting that the Indian economy is currently the fastest-growing in the world, Finance Minister Nirmala Sitharaman said on Thursday that a global ranking company has moved its rating for India from fragile to foremost in the last 9 years of the Narendra Modi government. Addressing the Lok Sabha during the […]

Business

Contraction: As post-Covid recovery falters, China’s economy slips into deflation

August 9, 2023 Vinayak Barot

Virendra Pandit New Delhi: The world’s second-largest economy, the People’s Republic of China (PRC), slipped into deflation in July for the first time in over two years as slowing domestic spending, and waning exports and imports, weigh heavily on the post-Covid economic recovery. The shock came a day after reports, quoting official data, emerged […]

Business

Roving Periscope: As Imran pleads ‘mercy’, and Shehbaz dissolves Parliament, bankrupt Pak sinks into uncertainty

August 9, 2023 Vinayak Barot

Virendra Pandit New Delhi: As Pakistan Prime Minister Mohammad Shehbaz Sharif prepared to dissolve the National Assembly on Wednesday, and set up an interim government to hold the next general elections without his predecessor in the fray, his jailed predecessor Imran Ahmed Khan Niazi has virtually pleaded for mercy. “Take me out of here; […]

Business

Torrent Pharma announces Q1 FY24 results, Revenue at Rs. 2,591 crores up by 10%

August 9, 2023 Vinayak Barot

Revenue & profitability: Revenue at Rs. 2,591 crores up by 10%. Gross margin: 74.9%; Op. EBITDA: 30.5% Op. EBITDA at Rs. 791 crores up by 11%. Adjusted for one off income in both periods, it is up by 16%. Profit after tax at Rs. 378 crores Performance summary: Results Q1 FY24 Q1 FY23 YoY% Rs […]

Business

Adani Ports and Special Economic Zone Ltd : Record quarterly cargo, revenue and EBITDA

August 8, 2023 Vinayak Barot

Ahmedabad, 8 August 2023: Adani Ports and Special Economic Zone Ltd (“APSEZ”), today announced its results for the first quarter ended 30 June 2023. # EBITDA includes the impact of forex mark-to-market gain or loss. In Q1 FY24, forex gain is Rs 10.93 Cr and in Q1 FY23, forex loss is Rs 1201.14 Cr. APSEZ […]

Business

Carbon dioxide: Essar’s Stanlow Terminals inks MoU with Eni UK

August 8, 2023 Vinayak Barot

Mumbai: Stanlow Terminals Ltd, part of Essar Energy Transition (EET), has signed a Memorandum of Understanding (MoU) with Eni UK Ltd, the British subsidiary of global energy company Eni, to explore the development of carbon dioxide (CO2) collection, shipping, and storage at the terminal and then delivery into Eni UK’s carbon transport and storage infrastructures […]

Business

I-Day: US lawmakers to attend PM Modi’s Aug 15 address at the Red Fort

August 8, 2023 Vinayak Barot

Virendra Pandit New Delhi: As India celebrates the 75th anniversary of Independence Day on August 15, a bipartisan group of leading US lawmakers will attend Prime Minister Narendra Modi’s address to the nation from the ramparts of the Red Fort in the national capital. The US Congressional delegation will be led by Indian-American Congressman […]

Business

Roving Periscope: Why didn’t the Saudis even invite Russia for Ukraine talks?

August 8, 2023 Vinayak Barot

Virendra Pandit New Delhi: In this era of frenemies and geopolitical promiscuity, everything is possible. It appears the US, China, and Saudi Arabia are, for now, on the same page, and coming closer to isolating Russia on the Ukrainian issue. For, despite Russia being a member of the Saudi Arabia-led Organization of the Petroleum […]