NEW DELHI: India’s first final assembly line (FAL) for commercial fixed-wing aircraft could come up in either Gujarat’s Dholera or Andhra’s Bhogapuram.Adani Group’s upcoming JV (joint venture) FAL with Brazilian regional aircraft major Embraer is being aggressively wooed by both states that are implementing ambitious aerospace plans for these two places. India is looking at […]
Leyland: Need well-designed scrappage policy
NEW DELHI: India’s commercial vehicle industry needs a stronger and well-designed vehicle scrappage policy to accelerate the replacement of old trucks, cut pollution and lower logistics costs, Ashok Leyland MD and CEO Shenu Agarwal said, as the sector sees a sharp demand rebound after GST 2.0.According to Siam, commercial vehicle sales touched a record 10.3 […]
Blackstone stake sale natural cycle: Mphasis
BENGALURU: Mphasis CEO Nitin Rakesh said Blackstone’s stake sale reflects a natural phase in the private equity firm’s investment lifecycle and does not indicate any loss of confidence in the company’s performance. Blackstone acquired a 60.5% stake in Mphasis for $1.1 billion in 2016 and has been invested in the company for over nine years. […]
All in a day: Rupee nears 92/$, RBI eases liquidity, forex kitty swells
MUMBAI: The foreign exchange market on Friday threw up a set of developments that appear contradictory: the rupee fell to a new low, RBI took measures to ease borrowing conditions, and foreign exchange reserves jumped past $700 billion even though the central bank was selling dollars to support the currency.The rupee slipped close to the […]
Silver shines above $100/oz mark for the first time
Hyderabad & Mumbai: Silver’s unprecedented surge continued Friday. In late trades on the New York Commodity Exchange (Comex) the price of the white metal crossed the psychologically important $100-per-ounce (Oz) mark for the first time in history. Gold, which has gained at a much slower pace than silver in recent months, neared the $5,000/Oz mark.In […]
India Budget 2026: Travel and tourism industry seeks demand boost, infrastructure support
Taj Mahal, Agra (File photo) MUMBAI: As the Union Budget 2026 approaches, stakeholders across India’s travel, tourism and hospitality sectors are seeking policy continuity, improved financing frameworks and measures to stimulate consumer spending. While domestic travel demand has remained resilient, foreign tourist arrivals are still below earlier peak levels, prompting industry leaders to look to […]
Adani group stocks lose $12.5 billion in market cap after US SEC seeks court nod to serve summons; shares slide up to 13%
Shares of Adani group companies fell sharply on Friday, with some stocks plunging as much as 13%, after reports said the US Securities and Exchange Commission (SEC) has approached a New York court seeking permission to serve summons to group chairman Gautam Adani and executive Sagar Adani in connection with an alleged fraud and $265-million […]
US markets today: Wall Street drifts lower into quieter close; tariff walk-backs cap volatility
US stocks edged lower on Friday as a turbulent week marked by tariff threats and reversals headed toward a calmer finish, with investors turning cautious amid limited clarity on trade and geopolitical signals.In early trade, the S&P 500 slipped 0.1%, while the Dow Jones Industrial Average fell 258 points, or 0.5%, AP reported. The Nasdaq […]
Juspay valued at $1.2 bn in fresh funding; first unicorn of the year
MUMBAI: Payments infrastructure startup Juspay has raised a fresh $50 million in funding from new investor WestBridge Capital at a valuation of $1.2 billion, becoming the first unicorn of the year. The investment includes a mix of primary and secondary transactions, the company said in a statement on Friday. In a secondary deal, a firm’s […]
IndusInd Bank turns around, Arijit Basu is new chairman
MUMBAI: IndusInd Bank swung back to profit in the December quarter, reversing a September-quarter loss, but earnings stayed sharply lower year-on-year as the lender shrank its balance sheet and absorbed higher provisions. It posted a net profit of Rs 128 crore for Q3 FY26, against a Rs 437 crore loss in Q2. A year earlier, […]