Economy News

Smart home refridgerator by LG at the IFA Electronics show

LG acquires majority stake in Netherlands-based Athom in AI push

Even after the acquisition by LG Electronics, Athom will continue to operate independently, maintaining its business operations and branding

Jul 7, 2024

June saw over 42 lakh new demat accounts amid bullish stock market

As the Indian stock market keeps touching new highs amid a record bull run, over 42.4 lakh new demat accounts were opened in the month of June, the highest account opening rate since February.

Jul 7, 2024

India electricity generation jumps by 15% for May amid scorching heat wave

India's electricity production went up by a robust 15.06 per cent to 167.55 billion units in May this year compared to 145.61 billion in the same month last year, as demand surged amid the scorching heat wave, according to the monthly report of Central Electricity Authority.

Jul 6, 2024

Ola exits Google Maps, develops in-house Ola Maps

India's major ride-hailing company Ola has exited Google Maps and has shifted to its own Ola Maps for cab operations.

Jul 6, 2024

India's Vision 2047: On Track to Developed Nation Status

India, the world's fastest-growing economy, is on a trajectory to become a developed nation by 2047. This ambitious goal, set to coincide with the 100th anniversary of India's independence, is not just a dream but a vision that the Indian government and its people are committed to realizing.

Jul 5, 2024

Elon Musk halts investment plans in India: Bloomberg report

It has been previously reported that Elon Musk had planned to visit Indian prime minister Narendra Modi in April

Jul 4, 2024

Centre announces Rs 200 crore scheme for green hydrogen testing infra

The government on Thursday announced a Rs 200 crore scheme for funding testing facilities, infrastructure, and institutional support for the development of standards and regulatory frameworks under the National Green Hydrogen Mission.

Jul 4, 2024

Mega boost to Indian startup ecosystem; $7bn in H1 2024, domestic funding, demand set to drive growth

Indian startups received nearly $7 billion in funding in the first half of 2024, indicating potential for growth. This growth is driven by domestic funding and demand, similar to the success seen in Silicon Valley and China. The Indian FMCG sector's growth, driven by rural demand and government initiatives, serves as an example of the potential for domestic demand to drive growth in the startup sector.

Jul 4, 2024

India records robust services sector growth in June, hiring at 2-year high

Survey of services sector shows robust growth in June, exports-wise

India's services sector has witnessed a robust growth in June, according to a survey conducted by HSBC. The growth was primarily driven by strong domestic demand and a record increase in export orders.

Jul 3, 2024

Indian real estate registers $2.5 bn in investments in Q2

Indian Real Estate Attracts $2.5 Billion in Q2 Investments: Report

After a steady start in the first quarter (Q1) of 2024, Indian real estate saw accelerated momentum in the second quarter (Q2), registering $2.5 billion of inflows -- the highest in any quarter since 2021, a new report showed on Wednesday.

Jul 3, 2024

SEBI issues show-cause notice to Hindenburg, Nathan Anderson over Adani report

The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to Hindenburg Research, Nathan Anderson and the entities of Mauritius-based foreign portfolio investor (FPI) Mark Kingdon for trading violations in the scrip of Adani Enterprises Ltd, leading up to Hindenburg report and thereafter.

Jul 2, 2024