Mumbai: Anil Ambani-led Reliance Infrastructure Ltd has revealed plans to step up its ammunition exports to Rs.3,000 crore by 2027. This year, the company exported Rs. 1,500 crore worth of large-calibre ammunition, and it aims to become one of the top three defence exporters from India. The company has been allotted 1,000 acres in the Watad Industrial Area in Ratnagiri, Maharashtra. It plans to develop the Dhirubhai Ambani Defence City (DADC) here with an investment of Rs. 5,000 crore, making it the largest greenfield defence manufacturing plant in India. The company aims to export its artillery ammunition primarily to the…
Author: Abizar Attari
Abizar Attari
I’ve always had a fascination with storytelling. Analyzing diverse perspectives and helping people understanding them simply is my life’s motto. I live to create stories that you’d love to read. When I’m not writing, you'll find me having a leisurely stroll on the beach or in the park.
Read More
New York: In another controversial move that can have disastrous ramifications, the Trump administration has decided to halt funding for a cure to HIV. This is a $258 million research initiative that can potentially help find a cure for HIV. The US government’s National Institute of Health (NIH), a body entrusted to research and develop cures for diseases, said its pausing funding for clinical trials of an HIV vaccine developed by Moderna, along with another consortium working to develop a vaccine for HIV. NIH and the Department of Health and Human Services officials told researchers they wanted “to go with…
New Delhi: India’s largest low-cost airline IndiGo will now end its damp lease agreement with Turkish Airlines for its 2 Boeing 777 aircraft by August 31 as the DGCA has given a ‘last and final’ extension to the agreement.The decision to end the partnership comes after Turkey openly backed Pakistan during the Indo-Pak skirmish earlier in May. The intense social media backlash has resulted in Turkey losing an estimated Rs.770 crore in revenue from Indian tourists. Turkish Airlines has had an agreement with IndiGo since 2023, under which IndiGo operates two of its Boeing aircraft on the Istanbul-Delhi and Istanbul-Mumbai…
There’s a reason why vendors hesitate to trust startups, the intense media glaze notwithstanding. Started during the height of the work-from-home trend during the pandemic, Zepto had managed to silence critics with its 10 minute delivery service. Not to fall behind, food delivery and ecommerce majors including Zomato, Swiggy, JioMart and Flipkart also jumping into the fray. After the e-commerce boom, venture capitalists queued up to invest in a slice of the quick commerce hype, with Zepto’s funding round getting ‘oversubscribed’ just like IPOs do. Flush with funds, Zepto managed to corner about 29% of the quick commerce segment, as…
New Delhi: Suzlon Energy’s shares jumped to a 6 month high after its Q4 net profit rose 5 times to Rs.1,181 crore, a stellar 365% rise from the same period last year. Revenues rose 67% to Rs.10,851 crore with a 103% YoY increase in PBT to Rs.1,447 crore, its highest PBT in the decade. In a press release, the company said it has added 10 new production lines for its S144-3.X MW series and completed the production expansion plans for its Daman and Pondicherry facilities. With its record 573 MW of deliveries in Q4, the company ended the financial year…
Bengaluru: Sakra World Hospital, India’s first 100% FDI Tertiary Care Hospital, proudly announces the appointment of Tandem Healthcare, a premier healthcare-focused EPC company, to design and build its second state-of-the-art hospital in North Bengaluru. Spanning 6.8 lakh square feet, this 500-bed facility will be one-of-its-kind green biophilic hospital, incorporating garden lounges, green balconies, planters, arrival canopy and serene lake views to create a healing environment inspired by nature. Set to be completed and operational within 30 months. This landmark project, valued at Rs 1,000 crore, marks a significant milestone in Sakra’s mission to deliver world-class healthcare powered by Japanese innovation and…
New Delhi: On Wednesday, May 28, the World Health Organization (WHO) reported a rise in COVID-19 cases in South East Asia, the eastern Mediterranean and western Pacific island nations. A new variant, christened NB.1.8.1 has been detected in about 11% of samples tested. Though some Western Pacific island countries have seen a rise in hospitalizations and cases, the WHO says there is nothing to suggest that there will be a rise in cases so far. India has detected one case of NB.1.8.1 so far, along with four cases of another variant called NF.7. The WHO has classified these as ‘variants…
New Delhi: Showcasing your achievements is one thing, hogging the spotlight for a cause is another.No one knows this better than celebrity entrepreneur Elon Musk (and also Ola Founder Bhavish Agarwal, more on that later). But Elon Musk is no Kim Kardashian, he has proved his worth by leading Tesla to become a trillion dollar automaker, whose self driving electric cars had become an aspirational purchase that offered a tech stack way better than a Ferrari, Aston Martin or any other European luxury car maker. That was 2023. Fast forward today, Tesla has been left behind by BYD, a Chinese…
New York: The world’s most valued chipmaker, Nvidia Corporation, reported revenues of $44.1 billion, surpassing Wall Street expectations, despite the US curbs on semiconductor exports to China resulting in $15 billion of missed sales opportunities. Nvidia’s net income rose to $18.8 billion, a 26% YoY increase due to strong demand for its high-performance GPUs that power artificial intelligence applications, data centers and cloud computing infrastructure. Nvidia has declared a dividend of $0.01 per share for this quarter, as per a press release on its site. “Global demand for NVIDIA’s AI infrastructure is incredibly strong. AI inference token generation has surged…
Mumbai: After receiving SEBI’s approval, Mukesh Ambani-led Jio Financial Services Ltd (JFSL) has announced its intent to commence mutual fund operations in India with a 50:50 JV with BlackRock Inc, the world’s largest asset manager. This is BlackRock’s second stint in India’s Mutual Fund industry, after it sold its 40% stake in DSP BlackRock to its JV partner DSP Group. With this collaboration, Mukesh Ambani aims to expand its portfolio of services through the Jio brand. Jio’s vast reach as India’s largest mobile phone operator will be key here, as its digital ecosystem can help it breach the dominance of…
