Ola Electric experienced a significant revenue drop of 49.6% year-over-year, with revenue falling to Rs 828 crore in the June quarter from Rs 1,644 crore in the previous year. Despite this decline, the company saw a positive trend with a nearly 36% increase in revenue on a sequential basis, indicating potential growth momentum. Source link
The Pentagon has awarded contracts to several leading US artificial intelligence firms, including Elon Musk’s xAI, despite the company coming under fire recently for offensive content generated by its chatbot Grok.Announced on Monday, the contracts with xAI, Anthropic, Google, and OpenAI each carry a ceiling value of $200 million, according to the Pentagon’s chief digital…
India’s booming economy and rising number of high-net-worth individuals (HNIs) are set to drive more than 20% annual growth for wealth management firms over the next three years, global brokerage Jefferies has projected in a new report.Jefferies said the core wealth management (WM) segment in India is likely to see strong momentum, backed by expanding…
The US government on Monday announced a 17% import duty on most fresh tomatoes from Mexico, aiming to protect and revive its own domestic tomato industry. The move comes after talks with Mexican officials collapsed without reaching a new agreement to avoid the tariff.Mexico currently supplies about 70% of the US tomato market, up from…
India’s Global Capability Centres (GCCs) could contribute as much as $0.5 trillion to the country’s gross value added (GVA) over the next decade, as India advances toward becoming a $10 trillion economy, a top Goldman Sachs executive said on Monday.Gunjan Samdani, Co-Chairman of Goldman Sachs India, said the GCC sector is expected to directly employ…
The rupee weakened by 12 paise to close at 85.92 against the US dollar on Monday, hit by rising global crude oil prices and a firm greenback, even as the Reserve Bank of India stepped in to limit losses. The domestic unit had ended at 85.80 per dollar on Friday.At the interbank foreign exchange market,…
A high-level committee has approved a framework to enable the transfer of surplus land and buildings held by telecom PSUs — Bharat Sanchar Nigam Ltd (BSNL), Mahanagar Telephone Nigam Ltd (MTNL), and ITI Ltd — to central government organisations without an auction.The proposal, cleared at a meeting of the Committee of Secretaries in June, allows…
India is set to increase its presence in the United States market. This is due to changes in Washington’s tariff policies. Niti Aayog reports India will gain competitiveness in many product categories. The US has higher import tariffs on countries like China and Mexico. This creates an opportunity for Indian exporters. India’s merchandise exports and…
US manufacturing is showing persistent signs of stagnation despite a policy push from both political sides — with President Donald Trump deploying steep tariffs and former President Joe Biden previously handing out subsidies — to shore up domestic industry. Job losses and tepid production data point to a sector still waiting for momentum to return.Factories…
NEW DELHI: Non-fossil fuel sources now make up half of power generation capacity, a milestone the country has achieved five years ahead of the target set under its Nationally Determined Contributions (NDCs) committed in to the Paris Agreement climate agreement.“In a world seeking climate solutions India is showing the way,” renewable energy minister Pralhad Joshi…
