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LG Energy Solution’s operating profit plunges 58 pc as EV sales slip
Business

LG Energy Solution’s operating profit plunges 58 pc as EV sales slip

Seoul, July 8: LG Energy Solution Ltd (LGES), South Korea's leading battery maker, said on Monday its second-quarter operating profit plunged 58 per cent from a year earlier due to slowing sales of electric vehicles. Operating profit for the three months ended in June is estimated to have plummeted...
Welspun One raises Rs 2,275 crore to boost logistics infra in India
Business

Welspun One raises Rs 2,275 crore to boost logistics infra in India

Mumbai, July 8: Integrated fund and development management platform Welspun One on Monday said it has raised a second fund worth Rs 2,275 crore, inclusive of co-investment commitments, to strengthen logistics infrastructure in the country. The funds were raised from a diverse pool of approximately...
Consulting firm Mercer appoints Siddhartha Gupta as India President
Business

Consulting firm Mercer appoints Siddhartha Gupta as India President

New Delhi, July 8: US-based consulting firm Mercer on Monday announced the appointment of Siddhartha Gupta as its India President. Gupta brings a wealth of experience and expertise to this role, having most recently served as Mercer Mettl's Chief Executive Officer."I am excited to take on this role...
Users will be able to make UPI payments to UAE merchants now
Business

Users will be able to make UPI payments to UAE merchants now

New Delhi, July 4: The Indian Government has been pushing UPI globally for faster digital payments. Now, UPI will be available in the Middle East country UAE as well. NPCI International Payments Limited has partnered with Network International, a large digital commerce company in the Middle East and...
AstraZeneca to expand its Chennai GCC at Rs 250 crore outlay
Business

AstraZeneca to expand its Chennai GCC at Rs 250 crore outlay

Chennai, July 4: AstraZeneca India Private Limited (AZIPL), the Global Capability Centre (GCC) of the pharma group AstraZeneca on Thursday said it will invest Rs 250 crore on expanding its Global Innovation and Technology Centre (GITC) here. The expansion includes close to 1,300 roles focused...
Increased funding from domestic sources vital to drive India’s startup movement: Amitabh Kant
Business

Increased funding from domestic sources vital to drive India’s startup movement:...

New Delhi, July 4: To drive India's startup movement, increased funding from domestic sources is required, G20 Sherpa and former NITI Aayog CEO Amitabh Kant said on Thursday. "We need to increase domestic sources of capital for startups," Kant wrote in a post on X.According to him, presently,...
Indian FMCG sector to see revenue jump 7-9 pc this fiscal, rural demand surges
Business

Indian FMCG sector to see revenue jump 7-9 pc this fiscal, rural demand surges

New Delhi, July 4: Riding on higher volume growth, revival in rural demand and steady urban growth, the fast-moving consumer goods (FMCG) sector in India is projected to see revenue grow 7-9 per cent this fiscal (FY25), said a report on Thursday. The growth in FY25 follows an estimated 5-7 per cent...
Bengaluru sees 57 pc jump in residential prices in last 5 years: Report
Business

Bengaluru sees 57 pc jump in residential prices in last 5 years: Report

Bengaluru, July 4: India’s Silicon Valley saw average residential prices surge by 57 per cent in the last five years and considering the current trends, residential launches and sales in the city are expected to rise by 10-15 per cent by the end of this year compared to 2023, a report said on...
PE, VC investments reached $6.9 billion in May: Report
Business

PE, VC investments reached $6.9 billion in May: Report

Mumbai, July 3: Investors are bullish on India as the economic growth rate is the fastest in the world. Private equity (PE) and venture capital (VC) funds invested $6.9 billion in May 2024 which is 54 per cent more on a year-on-year (YoY) basis, according to the EY-IVCA report. The report said that...
Indian real estate registers $2.5 bn in investments in Q2: Report
Business

Indian real estate registers $2.5 bn in investments in Q2: Report

New Delhi, July 3: After a steady start in the first quarter (Q1) of 2024, Indian real estate saw accelerated momentum in the second quarter (Q2), registering $2.5 billion of inflows the highest in any quarter since 2021, a new report showed on Wednesday. According to the professional services and...
We got mandate to make India third largest economy: PM Modi
Business

We got mandate to make India third largest economy: PM Modi

New Delhi, July 3: Prime Minister Narendra Modi on Wednesday outlined the thrust of the BJP-led government’s economic policy. Speaking in Rajya Sabha during the Motion of Thanks to the President's address, the PM said, “There will be a rapid transformation in public transportation in the...
Koo announces to shut down after partnership talks fell through
Business

Koo announces to shut down after partnership talks fell through

New Delhi, July 3: Homegrown micro-blogging platform Koo on Wednesday announced to discontinue its services to the public after partnership talks fell through. "We explored partnerships with multiple larger internet companies, conglomerates and media houses but these talks didn’t yield the outcome...
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