Mining tycoon Anil Agarwal has said the current financial year that started on April 1 will be a transformative year for his conglomerate Vedanta as it prioritises disciplined growth while parent eyes a USD 3 billion deleveraging in the next three years. In a communication to shareholders, Vedanta Ltd Chairman Agarwal said the group will […]
Category: The Economic Times
Economictimes
Honda to launch next-generation EVs in China by 2027
Japan’s Honda Motor plans to launch six next-generation electric vehicle (EV) models branded Ye in China by 2027, the automaker said on Tuesday. It added that it also planned to roll out a total of 10 Honda-brand EV models in China by 2027 in the race to ensure EVs make up 100% of its automobile […]
Wardwizard electric two-wheeler sales up 1.5% in March
Wardwizard Innovations & Mobility on Wednesday said it sold 3,801 units of electric two-wheelers in March, registering a growth of 1.5 per cent as compared with the same month last year. The Vadodara-based firm had dispatched 3,744 electric two wheelers to dealers in March 2023. In the fiscal ended March 31, 2024, the company reported […]
Daimler India to foray into battery electric segment with new gen eCanter
NEW DELHI: Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the second half of 2022. “The launch […]
Tesla chief Elon Musk likely to unveil $2-$3 billion India investment during visit, sources say
Tesla chief Elon Musk is set to announce an investment in India of $2-$3 billion, mainly for building a new factory, when he visits New Delhi next week to meet Prime Minister Narendra Modi, two sources familiar with the discussions said. Musk will meet Modi on Monday during his India trip, when the billionaire is […]
India’s crude oil import bill drops 16% but import dependency hits new high
India’s crude oil import dropped 16 per cent in the fiscal year ended March 31 as lower international rates but the dependency on overseas suppliers rose to a new high, official data showed. India imported 232.5 million tonnes of crude oil, which is refined into fuels like petrol and diesel, in the 2023-24 fiscal (April […]
What the fresh march higher in oil means for world markets
LONDON, – Oil prices are up around 16% so far this year near $90 a barrel, with supply worries high given escalating Middle East tensions and tit-for-tat attacks on energy infrastructure between Ukraine and Russia. Investors are paying attention. After all, it was an energy price surge two years ago that helped drive inflation and […]
India’s power consumption rises nearly 10 pc to 70.66 bn units in first half of April
NEW DELHI: India’s power consumption grew nearly 10 per cent year-on-year to 70.66 billion units (BU) in the first half of April this year, showing improvement in economic activities and consumption patterns, according to the power ministry data. According to the data, power consumption in the country rose to 70.66 BU during April 1-15 this […]
Ramkrishna Forgings secures Rs 270 crore order for Vande Bharat trains
Ramkrishna Forgings Ltd on Monday said it has received an order of Rs 270 crore from a consortium led by BHEL to supply bogie frames of Vande Bharat train sets. The scope of the project involves the development and validation of the bogie frames for the sleeper version of the Vande Bharat train sets, Ramkrishna […]
Delhi airport among world’s top 10 busiest airports: ACI
Delhi airport has been named among the world’s top 10 busiest airports for 2023 in a list topped by Hartsfield-Jackson Atlanta International Airport. The Indira Gandhi International Airport in the national capital is ranked tenth while Dubai and Dallas airports are at the second and third positions, respectively, according to the Airports Council International (ACI) […]
Oil sheds 1% after Iran attack, US economic data
NEW YORK: Oil prices sank by about 1% a barrel on Monday after Iran’s weekend attack on Israel proved to be less damaging than anticipated, easing concerns of a quickly intensifying conflict that could displace crude barrels. Brent futures for June delivery fell 91 cents to $89.54 a barrel, a 1% loss, by 1:17 p.m. […]
Oil prices rise as Israel weighs response to Iran attack
Oil prices rose on Tuesday amid heightened tensions in the Middle East after Israel’s military chief said his country would respond to Iran’s weekend missile and drone attack amid calls for restraint by allies. Brent futures for June delivery rose 46 cents, or 0.5%, to $90.56 a barrel by 0005 GMT. U.S. crude futures for […]