BUSINESS
Vedanta-Foxconn JV may just be the beginning of India-Taiwan tech partnership
While this is expected to give a push to Prime Minister Narendra Modi's production-linked incentive (PLI) plan, it is also seen by many as a move that would further expand collaboration between India and Taiwan, which is a key player in the global supply chain network.
SpiceJet's Q3FY23 net profit at over Rs 23 cr
The airline reported one-time exceptional adjustment of Rs 77.46 crore on account of settlement. The settlement with Boeing was a significant event during the quarter. "As expected, the company received cash and non-cash accommodations significantly in excess of the amounts due to lessors during the period of grounding of MAX aircraft," the airline said in a statement.
Musk donates over $5bn worth of Tesla shares to unnamed charity
Musk transferred the 5,044,000 Tesla shares -- which were worth more than $5.4 billion at the time -- over the course of 10 days in November, according to a Securities and Exchange Commission filing. The filing called the transfer a "bona fide gift" to charity, but it did not say what charity received the shares, the report said on Monday.
LIC set for a massive listing on the bourse, Here are India's Top 10 IPOs ever
Life Insurance Corporation of India is all set to issue its eagerly-awaited Initial Public Offering (IPO). LIC plans to sell 5 percent of its stake via the public offer. This has been touted as India’s largest IPO which has been predicted to fetch anywhere between Rs 60,000 crore to Rs 70,000 crore as per reports. This will make LIC the largest company in India by market capitalization. Amid this IPO frenzy, here’s a list of India’s top 10 IPOs issued ever:
Permanent work from home jobs a hit with Indian jobseekers: Report
The onset of the Covid-19 pandemic made working from home the new normal for many job roles. According to Naukri.com, the job platform has seen 93,000 permanent and temporary remote jobs being listed since July last year. Of these, 22 per cent jobs were for permanent remote roles only. In the last six months, Naukri.com has seen 32 lakh job searches for permanent and temporary remote jobs, by Indian job seekers.
Eupheus Learning acquires SaaS-based firm SchoolMitra
This acquisition will make SchoolMitra's 21st century school OS accessible to 20,000+ schools of Eupheus Learning, simplifying the lives of all the stakeholders, including parents, teachers, students and the school administration. Both the firms share a common vision to enable schools with modern technologies and innovations, digitalising the Indian education sector.
Value buying boosts equity indices; Sensex gains over 1,500 pts
The upward movement comes a day after a sharp correction took place on the back of heightened tensions between Russia and Ukraine. Accordingly, on Tuesday attractive stock valuations brought a healthy influx of domestic institutional as well as retail funds into the market. In the initial trade, both the indices had a gap up opening.
India's Jan YoY exports rise over 25%
The exports during January 2021 stood at $27.54 billion. The data by the Ministry of Commerce and Industry showed that in comparison to January 2020, last month's exports rose by 33.45 percent.
Top crypto lender to pay $100 mn fine for violating securities law
In more bad news for the unregulated world of cryptocurrencies, popular crypto lender BlockFi will have to pay $100 million in penalties in the US for operating as an unregistered investment company. The company's interest accounts, which let users earn returns on cryptocurrencies like Bitcoin and Ethereum, were found to be unregistered securities.
Vedanta, Foxconn to set up joint venture to manufacture semiconductors in India
“This first-of-its-kind joint venture between the two companies will support Indian Prime Minister Narendra Modi’s vision to create an ecosystem for semiconductor manufacturing in India… Vedanta will hold the majority of the equity in the JV, while Foxconn will be the minority shareholder. Vedanta Chairman Anil Agarwal will be the Chairman of the joint venture company,” a press release by Foxconn read.
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