Road transport minister Nitin Gadkari on Tuesday said rapid strides in technology and green fuel will reduce the cost of electric automobiles, bringing them at par with petrol-run vehicles in the next two years. Replying in the Lok Sabha on the demands for grants for road transport and highways ministry, 2022-23, Gadkari emphasised the need … Read more
Mukesh Ambani and Gautam Adani tiptoed around each other for years to reach the top two rungs of Asia’s wealth ladder. While one of them built an empire in telecom and retail, the other established a lock on transport and energy distribution. Increasingly, though, the two billionaires from India’s Gujarat state are starting to overlap, … Read more
Alibaba Group, the world’s biggest e-commerce company, increased a share buyback to $25 billion from $15 billion on Tuesday to prop up a stock price that has fallen by more than half since the ruling Communist Party tightened control over tech industries by launching regulatory crackdowns. The increase is a “sign of confidence in the … Read more
Warren Buffett‘s Berkshire Hathaway has struck an $11.6 billion deal to buy Alleghany Corp, the owner of reinsurer TransRe, just weeks after the 91-year-old billionaire bemoaned the lack of good investment opportunities. Alleghany adds to Berkshire’s already large insurance portfolio, which includes Geico auto insurance, General Re reinsurance and a unit that insures against major … Read more
The war in Ukraine has delivered a shock to global energy markets. Now the planet is facing a deeper crisis: a shortage of food. A crucial portion of the world’s wheat, corn and barley is trapped in Russia and Ukraine because of the war, while an even larger portion of the world’s fertilizers is stuck … Read more
Japanese automaker Suzuki Motor Corporation on Sunday said it will invest around 150 billion yen (about Rs 10,445 crore) by 2026, for local manufacturing of Battery Electric Vehicles (BEV) and BEV batteries in Gujarat. The company has signed a Memorandum of Understanding (MoU) to this effect with the Gujarat government. It was signed “on March … Read more
Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales The price of diesel sold to bulk users has been hiked by about ₹25 per litre in line with a near 40% rise in international oil prices, but retail rates … Read more
Investing in stocks over the next decade is going to get tough for those that simply buy and hold. That’s according to Stifel’s chief equity strategist, Barry Bannister, who foresees a lost decade for stocks. Here’s how investors should prepare for the potential of 0% returns in the US stock market through 2031, according to … Read more
Indian conglomerate Adani Group is exploring potential partnerships in Saudi Arabia, including the possibility of buying a stake in the world’s largest oil exporter, people with knowledge of the matter said. The group, led by Indian tycoon Gautam Adani, has held preliminary talks on a range of potential cooperation and joint investment opportunities with Saudi … Read more