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The Economic Times
The Economic Times Adani CFO says US indictment linked to one Adani Green contract
Adani Group CFO Jugeshinder Robbie Singh addressed a U.S. bribery indictment, clarifying its connection to a single contract under Adani Green Energy, representing about 10% of their business. Singh emphasized that the allegations, stemming from a February 2024 risk disclosure, are unproven and don't involve other Adani entities.
The Economic Times India may roll out scheme worth billions of dollars to boost local electronics production
Buoyed by robust local manufacturing of electronics products, especially mobile phones, the government is reportedly planning to soon roll out incentives worth billions of dollars for domestic companies to manufacture deeper components.
The Economic Times Six pharma firms to set up facilities in Telangana, create over 12,000 job
Six prominent pharmaceutical companies, including Dr Reddy's Laboratories, Aurobindo Pharma, and Hetero Labs, have signed memorandums of understanding (MoUs) with the Telangana government to set up facilities in the Pharma City near here, the government announced on Friday. The companies have committed to invest over Rs 5,260 crore, which is expected to create 12,490 job opportunities in the pharma sector, according to an official release.
The Economic Times North Chennai's Tidel Park to boost IT growth, generate 6,000 jobs
The new Tidel Park in North Chennai is set to transform the region into a "thriving information technology hub," according to real estate consultant Knight Frank India. Strategically located with robust infrastructure, the facility will spur economic growth and job creation, said Srinivas Anikipatti, Knight Frank India's executive director for Tamil Nadu and Kerala.
The Economic Times Apple readies more conversational Siri in bid to catch up in AI
Revamping the 13-year-old Siri service is part of Apple’s efforts to become a force in artificial intelligence. The company debuted its much-ballyhooed Apple Intelligence platform last month, but it still lacks many of the features offered by other tech giants. The new Siri, details of which haven’t been reported, uses more advanced large language models, or LLMs, to allow for back-and-forth conversations, said the people, who asked not to be identified because the effort hasn’t been announced.
The Economic Times Allcargo to set up Rs 115-crore logistics park in Haryana
Allcargo Terminals Limited is investing Rs 115 crore to develop a multimodal logistics park in Farrukhnagar, Haryana. The park, a partnership with Haryana Orbital Rail Corporation Limited, is part of a larger Rs 6,000 crore initiative. This project will enhance freight connectivity and foster new industrial zones, boosting the region's economic growth.
The Economic Times India should be branded as a 'Responsible Capitalist' nation: Nirmala Sitharaman
The Finance Minister said "We thought of it as our responsibility to use as per our need and not as per our greed. We must understand that capitalism has its limitations & we need to brand India as a 'Responsible Capitalist' country".
The Economic Times India-EFTA trade pact to drive $100 bn investment, boost 99.6 pc of exports
The Trade and Economic Partnership Agreement (TEPA) has the potential to boost 99.6 per cent of Indian exports with market access to European Free Trade Association (EFTA) countries and drive $100 billion investment, the government said on Saturday.
The Economic Times We need Bharat Food and Drug Administration for global benchmarks: FM Sitharaman
India is setting standards in pharmaceuticals and like the US Food and Drug Administration (FDA), we should also aim to create Bharat Food and Drug Administration (FDA) for global standards and benchmarks, Union Finance Minister Nirmala Sitharaman has stressed.
The Economic Times Mobile broadband base dips after two years amid Reliance Jio user losses
According to Trai data, Jio lost 8 million 4G/5G users in September while Airtel and Vodafone Idea added 0.4 million mobile broadband users each. State-run Bharat Sanchar Nigam Ltd (BSNL), which did not raise prices, added 1.5 million such users.
The Economic Times NCLAT okays sale of Infrastructure Leasing & Financial Services stake in IL&FS Paradip Refinery Water Ltd
The National Company Law Appellate Tribunal (NCLAT) has granted Infrastructure Leasing & Financial Services (IL&FS) permission to sell its complete stake in IL&FS Paradip Refinery Water Ltd (IPRWL). This decision comes after Indian Oil Corporation (IOC) delayed a decision on a full acquisition of IPRWL. The approval will enable IL&FS to settle a debt of approximately ₹1,000 crore.
The Economic Times S&P Ratings says US allegations may renew questions on governance practices at Adani
"The allegations could renew questions over the group's governance practices and damage its reputation. We will watch for any signs of weaker funding access or concerns from existing lenders -- which could be demonstrated by the lowering of funding limits, non-renewal of facilities, or significantly higher credit spreads," S&P Ratings said in a note.
The Economic Times Adani's green plans may face a funding squeeze
Adani Group's $100 billion investment plan for renewable energy might be delayed. The US Department of Justice and Securities and Exchange Commission indicted the group and its chairman. Funding channels may tighten, impacting Adani Green Energy the most. The company relies heavily on debt and faces short-term refinancing needs.
The Economic Times Six pharma companies sign MoUs with Telangana government for Pharma City investment
According to the MoUs, MSN Laboratories will establish a manufacturing unit and an R&D center, Laurus Labs and Aurobindo Pharma will set up separate formulation units, and Gland Pharma will open an R&D center along with injectables and drug substance manufacturing units.
The Economic Times Business activity hits a 3-month high in November despite cost pressures
India's business activity rose to a three-month high in November. The HSBC Flash India Composite Purchasing Managers Index reached 59.5. This growth was driven by increased business gains and export sales. Both the manufacturing and services sectors experienced expansion. However, businesses also faced rising cost pressures, leading to increased selling charges.
