China kicks off probe into iPhone maker Foxconn: State media
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According to a report in state-run media the Global Times, Chinese tax authorities have conducted inspections on key enterprises of Foxconn (Hon Hai Technology Group) in Guangdong and Jiangsu provinces, among other places. “The natural resources department has also conducted on-site investigations into the land use of key enterprises of Foxconn in Henan and Hubei provinces," the report said late on Sunday, citing sources.
Foxconn to establish industrial parks, optimise business in India: Chairman
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Foxconn Chairman Young Liu said that since they entered India in 2005, its revenue, number of employees, and investment scale have grown exponentially.
Lower realisations, higher raw material cost to adversely impact steel firms’ margins
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Recent correction in Coking coal prices is likely to aid spreads for steel majors from 2QFY24. Metal names have reacted positively to anticipated demand uptick in China, even as demand greenshoots are yet to be seen on the ground, the report said.
100% committed to producing chips, display glass in India: Vedanta Chairman
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Agarwal reacted after Taiwanese chip-making giant Foxconn announced it had withdrawn from a joint venture to manufacture chips with India-based industrial giant Vedanta. He said that India is a land of opportunities with huge potential.
Jindal Steel in nickel pig iron JV with Indonesia's New Yaking
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According to JSL, as per the agreement, it will acquire 49 per cent stake for about $157 million in the new greenfield project under a new joint venture company. "The strategic collaboration offers benefits of backward integration as JSL would have stake in the business of NPI," JSL said.
Combined Index of Eight Core Industries up by 7.8% in Jan 2023
IANS -
The production of fertilisers, coal, electricity, steel, natural gas, cement and refinery products increased while production of crude oil declined in January 2023 over the corresponding month of last year, said the government data released on Tuesday. ICI measures combined and individual performance of production of eight core industries viz. coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
Steel production to be doubled to 300 MT per annum by 2030: Scindia
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Addressing the Global Zinc Summit, he said that the Indian Railways and Steel Authority of India Ltd (SAIL) are working together to produce corrosion free steel. "With anti-corrosion features and quality to prevent oxidation in steel products, zinc has tremendous marketing potential for sectors like renewable energy and rural electrification.
Steel production to be doubled to 300 MT per annum by 2030: Jyotiraditya Scindia
IANS -
India currently is the fourth largest producer of zinc in the world and 80 per cent of zinc produced in India is consumed domestically, the minister said. India has already emerged as the second-largest steel producer in the world and its per capita steel consumption has gone up from 57 kg to 78 kg during the last nine years, Scindia said.
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