Watch what Prime Minister Narendra Modi said on Tesla CEO Elon Musk and investments in India.

'He is a supporter of India': PM Modi on Elon Musk and investments in India

‘He is a supporter of India’: PM Modi on Elon Musk and investments in India

Fair trade regulator CCI on Tuesday approved US-based global investment firm Carlyle's proposal to acquire a 68.9 per cent stake in Roop Automotives Ltd.
"The proposed combination involves certain inter-connected steps resulting in inter alia securities swap between HIL Shareholder and RAL, and the acquisition of up to 68.9 per cent shareholding in RAL by Investor," the regulator said in a release.
CA Carob Investments (investor) is a Mauritius-based special-purpose vehicle owned and controlled by affiliates of the Carlyle Group Inc (Carlyle). As of September 30, 2024, Carlyle has USD 447 billion of assets under management.
Roop Automotives Ltd (RAL) and Highway Industries Ltd (HIL) are engaged in the manufacturing and selling of auto components.
"Commission approves the proposed combination involving inter-connected steps resulting in inter alia the acquisition of up to 68.9 per cent shareholding in Roop Automotives Ltd by CA Carob Investments (Investor)," CCI said.
In another ..

Roop Automotives Ltd (RAL) and Highway Industries Ltd (HIL) are engaged in the manufacturing and selling of auto components

Mangalore Refinery and Petrochemicals Limited (MRPL) signed a Memorandum of Understanding on Tuesday with Indian Strategic Petroleum Reserves Limited to utilise ISPRL's underground caverns for crude oil storage.
The partnership aims to enhance MRPL's crude storage capacity, ensuring supply security and mitigating risks arising from global market volatility.
The agreement was signed at MRPL's office in Mangaluru by Executive Director (Refinery), MRPL, B Sudharshan and ISPRL Deputy CEO Atul Gupta, in the presence of MRPL Managing Director Mundkur Shyamprasad Kamath and ISPRL CEO & MD L R Jain.
Under the agreement, MRPL will lease storage at ISPRL's facilities, reducing capital expenditure while improving operational flexibility.
Officials stated that the strategic location of ISPRL's storage sites, close to MRPL's refinery and the coast, would help cut transportation costs and facilitate smoother logistics. The collaboration is expected to support India's energy security efforts ...

The partnership aims to enhance MRPL's crude storage capacity, ensuring supply security and mitigating risks arising from global market volatility

A program intended to inform too often became a tool to censor, Meta said

The tech giant will also support the country's long-term competitiveness by training 10 million people over the next five years with AI skills

The Reserve Bank on Tuesday announced the names of the winners of the third edition of its Global Hackathon with the themes 'Zero Financial Frauds' and 'Being Divyang Friendly'.
The hackathon received an enthusiastic response with 534 proposals, of which 39 were received from teams outside India, including the United States, the United Kingdom, Hong Kong, Singapore, Brazil, Morocco, among others.
The 28 finalists presented their solutions to an independent jury which selected the winners based on several parameters, including comprehensiveness, innovation, feasibility, scalability and compliance.
The winners of the hackathon were FPL Technologies; Xaults Technologies; Epifi Technologies; NapID Cybersec; H Vision India (Hasin Vaidya); Rupya Darshini (Parthiban R, Jebaraj V and Gobika S); and VisAst (Krimisha Deore).
Announcing the winners, RBI said these innovative solutions are expected to enhance the capability of the system to fight frauds, maintain security and integrity of the 

The 28 finalists presented their solutions to an independent jury which selected the winners based on several parameters, including comprehensiveness, innovation, feasibility, scalability, compliance

Knowing Manmohan was one of the greatest privileges of my life. He showed me and everybody else what leadership and service truly mean

The challenges to inclusion need to be addressed head on with governance changes and higher untied funding with community accountability and ownership

The gems and jewellery sector has urged the government for a reduction in goods and services tax (GST) to 1 per cent on revenue equivalence ratio to ease the cost burden on the industry in the upcoming Budget.
"We seek rationalisation of taxes and availability of finance to support business," the All India Gem and Jewellery Domestic Council (GJC) Chairman Rajesh Rokde said in a statement on Tuesday.
With the continuously increasing gold rates, the current rate of GST is increasingly becoming a burden for the industry and end customers, he said.
Therefore, GJC is urging for a reduction in GST from the current 3 per cent to 1 per cent in the upcoming Budget, which will encourage compliance, Rokde said.
The tax reduction will enhance affordability for consumers, especially in rural areas, and most importantly, improve revenue collection by increasing the size of the formal economy, he added.
The industry apex body said there is a need to introduce a concessional GST rate for lab-grow

The industry apex body said there is a need to introduce a concessional GST rate for lab-grown diamonds to fully recognise their sustainable and cost-effective attributes compared to natural diamonds

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

‘He is a supporter of India’: PM Modi on Elon Musk and investments in India

Watch what Prime Minister Narendra Modi said on Tesla CEO Elon Musk and investments in India.

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