Strategic partnership with German startup Magment to enable roads that recharge electric vehicles. Highway trials planned in the US. Other applications include robot recharging in warehouses and factories Holcim is partnering with the German startup Magment to improve its magnetizable concrete technology for road surfaces enabling electric vehicles to recharge wirelessly while in motion. Known … Read more
Lodha has indicated the following – Complete repayment of $225 mn bonds in the next 4 months. These were raised against it’s UK projects in March 2020 and are originally scheduled to be repaid by March 2023. However, they would be prepaid due to strong sales from UK projects during the last 2 quarters. Target … Read more
Delhi High Court on Wednesday halted Future Group’s ongoing arbitration with estranged partner Amazon.com Inc in light of an Indian antitrust agency’s suspension of a 2019 deal between the two sides. The US company successfully used the terms of its 2019 investment in a Future unit to block the Indian retailer’s attempt to sell retail … Read more
The government on Wednesday said three show-cause notices have been issued to Chinese technology major Xiaomi for the recovery of ₹653 crore duty for a period of about three years from April 1, 2017 to June 30, 2020. “After completion of the investigation by the DRI, three show-cause notices have been issued to M/s Xiaomi … Read more
Bitcoin was trading around $46,073 on Wednesday, having struggled to make gains after falling sharply in early December. In November, it had hit an all-time high of $69,000. Bitcoin will take market share away from gold in 2022 as digital assets become more widely adopted, Goldman Sachs analyst Zach Pandl said in a research note … Read more
Hughes Communications India Pvt Ltd, (HCIPL), a majority-owned subsidiary of Hughes Network Systems, LLC (HUGHES), an innovator in satellite and multi-transport technologies and networks for 50 years, and Bharti Airtel Limited (“Airtel”), India’s premier communications solution provider, today announced the formation of a joint venture to provide satellite broadband services in India. Operational as HCIPL, the … Read more
Airtel has informed that it will not be going ahead with the corporate restructuring plan it had announced in April 2021. What was the restructuring plan? Airtel categorises it’s business under four verticals – India, International, Digital and Infrastructure. The 1st two consist of it’s telecom operations. As per the restructuring plan, it wanted to … Read more
Flipkart India Private Limited, the Walmart-owned e-commerce firm, reported its revenues for the financial year 2020-21 as Rs 43,357 crore, a 25 per cent jump since the last financial year. The company further reported a net loss of Rs 2,445 crore during the same fiscal. This is a 23 per cent decrease from the last … Read more
The bank is making a $20 mn investment into Pine Labs (PL). Key points to note – In May-July 2021, PL was valued at $3.5 bn when it had raised $ 600 mn from reputed investors including Fidelity, Blackrock and others. Later in September it had raised another $100 mn from Invesco at an undisclosed … Read more