Sector: All Sectors
Saudi’s major order cancelled
The impacted Company is VA Tech Wabag. The order pertains to the proposed 300 mega liters per day seawater desalination plant in Yanbu, Kingdom of Saudi Arabia. VA Tech Wabag said the client notified tender participants this week that the said tender stands cancelled due to some internal administrative procedures. “We are currently in touch … Read more
US-China relations: Beijing calls for reset in bilateral ties under Trump 2.0 administration
China’s top diplomat expressed hope on Tuesday that the incoming Trump administration would foster cooperative ties with Beijing, hours after former President Donald Trump remarked that the COVID-19 pandemic had strained his once-cordial relationship with Chinese President Xi Jinping, as per Reuters. “We hope the new U.S. administration will make the right choice and work … Read more
Finance ministry following a calibrated disinvestment strategy
The finance ministry on Monday said it’s following a “calibrated disinvestment strategy” through the listing of central public sector enterprises (CPSEs) as well as gradual dilution of minority stakes via the stock market, aligned with interest of minority shareholders. It has adopted a “holistic public asset management strategy” and every CPSE is being “driven to … Read more
China’s bold step in AI regulation: New committee aims to lead global standards
Beijing has announced the formation of a new artificial intelligence standardisation technical committee, Reuters reports. The committee will establish industry guidelines for emerging technologies such as large language models and AI risk assessment. As per the wire, the 41-member committee, which includes representatives from prominent tech firms like Baidu and prestigious academic institutions such as … Read more
Sona targets East for growth
Sona currently relies heavily on North America and Europe for 66% of its revenue. India contributes 28%. It’s current focus regions in the West (America and Europe) are plateauing and hence the Company is looking to expand into China, Japan, and South Korea. The targets are all 3 segments – electric, hybrid as well as … Read more
Inflation is stuck. Can Trump unstick it?
“I won on groceries,” the president-elect said in an interview Sunday on “Meet the Press.” In his nomination-acceptance speech at the Republican National Convention in July, Trump said he would “end the devastating inflation crisis immediately.” Despite his pledge to lower inflation, if Trump follows through on some of his tariff and immigration plans , … Read more
India orders Zomato to pay $95 mln in taxes, fines in latest setback
India’s tax department has ordered Zomato to pay 8.04 billion rupees ($94.8 million) in taxes and fines for non-payment of certain taxes from 2019 to 2022, the food delivery platform said on Thursday. The order directs Zomato to pay 4.02 billion rupees in outstanding taxes and an identical amount as penalty, which totals to more … Read more