Category: Business

Business

Solar cell manufacturing to outstrip global demand by 2024: report

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Solar cell manufacturing to outstrip global demand by 2024: report

Solar panels installed on top of a apartment building. Representational image | Photo Credit: MURALI KUMAR K / The Hindu By the end of 2024, global solar manufacturing capacity is likely to reach over 1,100 GW, far exceeding the demand for photovoltaic panels. The sector experienced significant growth in 2023, with solar cell, wafers and modules…

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Business

Rupee rises 1 paisa to close at 84.10 against U.S. dollar

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Rupee rises 1 paisa to close at 84.10 against U.S. dollar

Forex traders said investors were cautious ahead of the U.S. presidential election. (Representational image) The rupee recovered from its all-time low level to settle 1 paisa higher at 84.10 (provisional) against the U.S. dollar on Tuesday (November 5, 2024), supported by a recovery in the domestic markets and suspected intervention by the Reserve Bank of…

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Business

Stock markets rebound on value buying in banking, steel shares; Sensex jumps 694 points

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Stock markets rebound on value buying in banking, steel shares; Sensex jumps 694 points

The BSE benchmark tumbled 941.88 points or 1.18% to settle at 78,782.24 on November 4, 2024. File Benchmark Sensex recovered its early losses to close sharply higher by 694 points on late Tuesday (November 5, 2024), owing to buying in banking-, steel and oil & gas shares amid firm trends in global equities. Bouncing back…

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Business

Southwest Airlines names IndiGo co-founder Rakesh Gangwal as Chairman

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Southwest Airlines names IndiGo co-founder Rakesh Gangwal as Chairman

IndiGo co-founder Rakesh Gangwal has been appointed as the Chairman of American carrier Southwest Airlines. | Photo Credit: The Hindu Billionaire and IndiGo co-founder Rakesh Gangwal has been appointed as the Chairman of American carrier Southwest Airlines. Mr. Gangwal, who joined the board of Southwest in July this year, had also acquired shares worth USD…

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Business

Boeing factory strike ends as workers vote to accept contract

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Boeing factory strike ends as workers vote to accept contract

Factory workers at Boeing voted to accept a contract offer and end their strike after more than seven weeks, clearing the way for the aerospace giant to resume production of its bestselling airliner and generate much-needed cash. Leaders of the International Association of Machinists and Aerospace Workers district in Seattle said 59% of members who…

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Business

Noel Tata appointed to Tata Sons board 

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Noel Tata appointed to Tata Sons board 

Noel Tata, the half-brother of late Indian tycoon Ratan Tata, has been appointed to the board of Tata Sons, the group company that operates the $165 billion salt-to-software conglomerate, the company’s website on Tuesday (November 5, 2024) showed. The move follows Noel Tata’s appointment last month as the chairman of the powerful and influential philanthropic…

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Business

L&T, E2E Network form alliance for deployment of Gen AI solutions in India

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L&T, E2E Network form alliance for deployment of Gen AI solutions in India

L&T will integrate E2E Networks’ Cloud and AI Cloud platform with its expertise in data centre management and cloud solutions to cater to the startups and enterprises.  | Photo Credit: Reuters Larsen & Toubro Limited (L&T) having announced a strategic partnership with E2E Networks, an Indian Cloud and AI Cloud provider has decided to pick up 21% stake…

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Business

SEBI directs Embassy Office Parks to suspend CEO

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SEBI directs Embassy Office Parks to suspend CEO

SEBI on Monday (November 4, 2024) ordered suspension of Aravind Maiya, the CEO of Embassy REIT manager firm Embassy Office Parks Management Services, and appoint an interim CEO with immediate effect. SEBI’s direction follows a National Financial Reporting Authority (NFRA) order that barred Maiya for 10 years from undertaking any audit in respect of financial…

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Business

Rupee falls 2 paise to all-time low of 84.13 against U.S. dollar in early trade

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Rupee falls 2 paise to all-time low of 84.13 against U.S. dollar in early trade

Representational image. | Photo Credit: The Hindu In early trade on Tuesday (November 5, 2024), the rupee fell 2 paise to an all-time low of 84.13 against the U.S. dollar, as persistent foreign fund outflows and a muted trend in domestic equities dented investor sentiments. Forex traders said all eyes are on the U.S….

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Business

Markets fall in early trade amid unabated foreign fund outflows

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Markets fall in early trade amid unabated foreign fund outflows

People walk past the Bombay Stock Exchange (BSE) building, in Mumbai. Image for representation Stock markets declined in early trade on Tuesday (November 5, 2024) amid constant foreign fund outflows and cautious investors’ sentiment ahead of the U.S. presidential elections and the Federal Reserve interest rate decision. The BSE Sensex declined 326.58 points to 78,455.66…

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Business