Brickwork Ratings says telecom reforms not enough

Brickwork Ratings, a credit rating agency that gives advice on the ability of companies to service their debt, has hailed the slew of measures announced by the government yesterday to give relief to the telecom sector, but added they’re not enough to save the industry. FLIP FLOP The most import measure announced yesterday was a […]

SpiceJet signs Boeing 737 MAX deal ahead of approval

SpiceJet said it signed yet another leasing agreement for an unspecified number of Boeing 737 MAX aircraft, which were pulled out of service in early 2019 following accidents and mishaps. The American aviation regulator was the first to re-approve the aircraft for operations in November last year, followed by Canadian and European authorities in January […]

Assocham predicts double digit FY22 GDP growth

Assocham, one of India’s top three industry associations, has predicted double digit GDP growth for India this year, citing encouraging response from its members. The association, which counts hundreds of manufacturing and service sector companies as its members, said the economy is fast returning to normal after the disruption seen in April and May due […]

COLUMN: Bitcoin – the most successful ponzi scheme of all times?

Someone like me would make an ideal bitcoin enthusiast – libertarian by political persuasion, open source enthusiast, early adopter of all kinds of technologies, hater of big government and possessor of what my wife calls a ‘mildly paranoid personality’.  Yet, try as I might, I just can’t see bitcoin as anything other than the most […]

Pune-based fintech startup offers free credit cards

With youngsters increasingly preferring non-traditional careers and gigs for their livelihoods, several financial services startups have also sprung up to target these customers who may not qualify for traditional banking services. In this direction, FPL Technologies, a two-year-old, Pune-based credit scoring company, announced that it has launched a free credit card targeting the youth, with […]

TVS Motor Co announces expansion plans for South Africa

Chennai-based TVS Motor Company said it has signed a distribution partnership with ETG Logistics, part of a prominent South African business group present in over 70 countries across Africa, South East Asia, the Indian Sub-Continent, Latin America and the Middle East. ETGL will operate 30 dealerships for TVS Motor Company in South Africa as part […]

Lupin gets license to manufacture new TB drug

Indian pharmaceuticals manufacturer Lupin Ltd said it received a non-exclusive license to manufacture the anti-TB drug pretomanid from non-profit drug developer, TB Alliance. The company said it plans to sell the drug in 140 countries and territories, including many of the highest TB burden countries around the world. Pretomanid will be administered as part of […]

Maruti Suzuki recalls 1.82 lakh cars; wants drivers to avoid water

Marurti Suzuki, India’s largest car maker, has warned customers not to drive their Ciaz, Ertiga, Vitara Brezza, S-Cross and XL6 models made between 4 May 2018 and 27 October 2020 over water-logged areas. The company said there is a fault in 1.82 lakh of these vehicles which can cause unexpected results if the customer drives […]

Zen Technologies gets anti-drone system contract from IAF

Hyderabad based aviation equipment manufacturer Zen Technologies said it received a Rs 155 cr contract to a supply an anti-drone defence system to Indian Air Force. Details of the order were not disclosed, but the company said it would make the supplies over a 12-month period. Zen Technologies specializes in Defence Training Solutions, drones and […]

M&M cuts production by 20-25% due to chip shortage

Mahindra & Mahindra said it will cut its automobile production this month by 20-25% due to a shortage of semiconductors. The company, like most producers, has been finding it difficult to source the chips required that carry out various functions within a car, such as controlling the engine/fuel flow, display boards and so on. “The […]

Ramco Systems wins deal from US defence contractor

Ramco Systems, a Chennai-based provider of enterprise software, said it won a contract to supply operations management software to Draken International, a key US defence contractor which provides aircraft maintenance and management services to the US Department of Defence. The exact size of the deal was not revealed, but Ramco said the US company will […]

Broadcasting sector declines as broadband gains ground in India

The latest industry numbers for the broadband and broadcasting industries seem to confirm what many industry watchers have been warning for years — the rising penetration of affordable and high-speed wired internet will displace cable and DTH services in India. While this has always been seen as a theoretical possibility or hypothesis, new data from […]

RattanIndia to benefit from new drone rules

RattanIndia, a company focused on next-generation and disruptive businesses and led by Indiabulls founder Rajiv Rattan, said it expects to benefit from the new drone rules announced by the government this week. Government of India had, earlier this week, announced several far-reaching regulatory changes aimed at allowing people to use drones or unmanned aerial vehicles […]

Tata Power starts 150 MW solar plant in Rajasthan

Tata Power said it has commissioned a 150 million watt solar plant at Loharki in Rajasthan that will produce around 350 million units of power per year. The power will be supplied to Tata Power’s distribution arm. The estimate of 350 million units indicates a comparatively high efficiency of output. A 150 million power solar […]

Wonderla to reopen Kochi park next week, all parks open now

A month after it started reopening its amusement parks, Wonderla Holidays announced that it would reopen its flagship Wonderla Kochi park on Sept 1. This is the third and the last of the main locations for the company that is getting reopened after the second wave of COVID-19. South India’s biggest amusement park chain had […]

Zydus Cadila gets 6-month exclusivity in US for arthritis drug

Zydus Cadila said it received six-month exclusivity for the sale of generic tofacitinib, a drug that has annual sales of over $2 billion in the US. The exclusivity was provided by the US FDA, since Cadila Healthcare was the first to file an abbreviated new drug application or ANDA for the drug. An ANDA is […]