Articles for category: Business

September 10, 2024

Amid declining global fuel demand, ONGC Videsh pivots to securing overseas projects, prioritizing renewable transitions for sustainable growth.

ONGC Videsh, India’s leading overseas oil and gas company, is strategically focusing on acquiring stakes in producing assets abroad as global demand for refined fuels is expected to decline due to the shift towards renewable energy. According to Anupam Agarwal, the company’s head of finance, long-term exploration projects are not a priority, and efforts are ...

September 10, 2024

Market News

Business

Lulu Group plans to boost Indian agricultural imports to Rs 15,000 crore, emphasizing organic produce as expansion accelerates globally.

Lulu Group, based in the UAE, is aiming to boost its Indian agricultural procurements to Rs 15,000 crore within the next two years as part of its global expansion. Chairman M A Yusuff Ali announced a special focus on organic products, targeting an initial value of Rs 2,000 crore, which could rise to Rs 4,000 ...

September 10, 2024

Market News

Business

Allegations of corruption swirl around Sebi chairperson Madhabi Puri Buch as Congress claims her husband received preferential treatment from Mahindra.

Madhabi Puri Buch, chairperson of Sebi, is facing allegations from the Congress party that her husband, Dhaval Buch, received substantial payments from Mahindra & Mahindra while Sebi was regulating the company. Mahindra denied these claims, stating Dhaval was hired for his supply chain expertise before Madhabi took office at Sebi. They emphasized that they never ...

September 10, 2024

Market News

Business

Infosys and Proximus forge a strategic partnership, enhancing digital services and security solutions for businesses and residents in Belgium.

Infosys, a leading IT services firm, has joined forces with Belgium’s Proximus Group to enhance their digital offerings. This strategic partnership aims to create new business opportunities by developing a joint Market approach. By combining Infosys’ digital services with Proximus’ International affiliates’ products—such as Route Mobile’s Communications Platform and Telesign’s Digital Identity solutions—they plan to ...

September 10, 2024

Market News

Business

HCLTech to unveil innovative AI solutions at SEMICON India 2024, as India advances in the global semiconductor arena.

The AI Market in India is projected to grow at an impressive rate of 25-35% annually, reaching a valuation of $7-10 billion by 2027. In this thriving landscape, HCLTech will present its generative AI chatbot and other innovative solutions at the upcoming SEMICON India event, starting September 11. Inaugurated by Prime Minister Narendra Modi, the ...

September 10, 2024

Market News

Business

Air India Express plans to eliminate business class seats by 2025 amidst a major fleet expansion and operational restructuring.

Air India Express is planning to phase out business class seats from its aircraft by 2025. This decision comes as the airline, part of the Tata Group, prepares to merge AIX Connect with itself next month. Currently, Air India Express operates a fleet of 85 aircraft, which is expected to grow to around 100 by ...

September 10, 2024

Market News

Business

Madhabi Puri Buch faces allegations of favoritism, with political tension escalating between Congress and Mahindra over supposed conflicts of interest.

Mahindra & Mahindra (M&M) has denied Congress party’s allegations that it paid Dhaval Buch, husband of Madhabi Puri Buch, chairperson of the Securities and Exchange Board of India (Sebi), for preferential treatment from the regulator. Congress claims Dhaval received Rs 4.78 crore from M&M between 2019 and 2021, coinciding with Sebi’s scrutiny of the company. ...

September 10, 2024

Market News

Business

Coal India plans a massive investment in coal power, clinging to fossil fuels as India’s energy demand surges, sparking environmental concerns.

Coal India Ltd. is set to invest approximately 670 billion rupees (around $8 billion) to build coal-fired power plants near its mines, emphasizing the country’s ongoing reliance on coal for electricity. With approval for 4.7 gigawatts of new power generation in Odisha and discussions for an additional 2 gigawatts, the move highlights India’s forecasted surge ...

September 10, 2024

Market News

Business

South Korea probes Mercedes-Benz after a fire linked to their EQE vehicle’s Farasis batteries damaged 140 cars and displaced residents.

South Korea’s antitrust regulator is investigating Mercedes-Benz Korea following a fire incident involving one of its electric vehicles in Incheon that damaged around 140 cars and forced residents to evacuate. The fire occurred on August 1, and authorities are probing whether the company misled consumers regarding its battery suppliers. The Mercedes EQE vehicle involved in ...

September 10, 2024

Market News

Business

India’s hiring optimism soars to 37%, leading globally, driven by strong sectors and robust economic growth amidst talent demand.

The employment outlook in India for the fourth quarter of 2024 is highly optimistic, with 37 percent of employers planning to hire more staff. This figure, reported in the ManpowerGroup Employment Outlook Survey, positions India as having the strongest hiring sentiment globally, surpassing countries like Costa Rica and the United States. The survey reflects a ...