Business Archives - Page 7 of 9 - MediaCatalyst : News - Opinion

18 Sep

IREDA Secures Approval to Raise ₹4500 Crore via Equity Issue, Diluting Government Stake

MediaCatalystBusiness, Energy

Mumbai: The Indian Renewable Energy Development Agency Limited (IREDA) announced today that it has received the green light from the Department of Investment and Public Asset Management (DIPAM) to raise approximately ₹4500 crore through a fresh equity issue. This move, based on the recommendations of a High-Level Committee, is set to bolster IREDA's capital reserves, allowing it to significantly expand its financing activities for renewable energy projects across the country. The funds will be raised through the Qualified Institutions Placement (QIP) route, with the Government of India's shareholding in IREDA expected to be diluted by up to 7% on a…

13 Sep

Boeing Strike Cripples Production as 33,000 Workers Walk Out

MediaCatalystBusinessaerospace, Boeing, contract rejection, economy, IAM, production halt, strike, union, United States, US, workers

A massive strike involving 33,000 Boeing union members has brought commercial airplane production to a near standstill. This marks the first strike at the aerospace giant in 16 years and could have a significant impact on the US economy. The workers, represented by the International Association of Machinist (IAM) union, overwhelmingly rejected a proposed four-year contract despite union leadership touting it as the best deal ever negotiated with Boeing. The rejected contract included raises of at least 25% and a job security provision guaranteeing that Boeing's next commercial jet would be built at a unionized plant. The strike's impact could…

11 Sep

Rubix Report Highlights Saudi Arabia’s Economic Transformation and Deepening Ties with India

MediaCatalystBusiness, Worlddiversification, economy, GDP growth, India-Saudi trade, investments, NEOM, non-oil sector, Rubix Data Sciences, Saudi Arabia, Vision 2030

Rubix Data Sciences has unveiled its 3rd edition of the Rubix Country Insights: Saudi Arabia report, shedding light on the Kingdom's dynamic economic landscape and its growing importance in the global arena. Key Findings: Economic Resilience: While Saudi Arabia faced a slight dip in real GDP in 2023 due to oil production cuts, the report forecasts a strong rebound in 2024 and even more robust growth in 2025. This growth will be fueled by higher oil revenues and a thriving non-oil sector. Diversification Success: A major milestone was reached in 2023 as non-oil activities contributed to half of Saudi Arabia's…

11 Sep

Uber Reintroduces Premium ‘Uber Black’ Service, Starting with Mumbai

MediaCatalystBusinessUber Black

Mumbai: Uber, a ridesharing platform in India, has today unveiled its new premium category, Uber Black. This move comes as a response to the increasing demand for luxurious and high-quality travel options among Indian customers. Uber Black promises a superior travel experience with an emphasis on comfort, style, and convenience. Key highlights of this new service include: High-End Cars: Uber Black rides will be exclusively offered in brand-new, premium vehicles ensuring a consistent level of quality and luxury. Top-Rated Drivers: The service will feature top-rated drivers who have undergone specialized training to provide a premium experience. In-App Customization: Passengers can…

06 Sep

InsureTech Startup Flashaid Steps Up to Protect Students’ Futures

MediaCatalystBusiness

Mumbai: Mumbai-based insurtech company, Flashaid, is launching a new protection plan aimed at providing financial security to university and school students in the face of educational disruptions and unemployment. The "Student Total Protect" plan is a comprehensive solution that offers a combination of tuition protection, health coverage, and career placement assistance. It's designed to provide peace of mind to students and their families, ensuring that their educational and professional journeys can continue despite unexpected setbacks. This initiative comes at a crucial time. According to a 2019 NSSO survey, a worrying one in five students drop out of formal education every…

04 Sep

Goavega Unveils AI-Powered Product Engineering Solutions Amidst Growing Market Demand

MediaCatalystBusiness

Bengaluru: In a move to empower businesses to capitalize on the AI boom, Goavega, a leading AI-driven product engineering services provider, has launched its advanced suite of AI-driven product engineering services and solutions. The launch comes at a time when the AI market is projected to reach $2 trillion by 2030, with 73% of US companies already utilizing AI in some capacity. Goavega's new suite aims to address the challenges companies face in implementing AI effectively. Despite the widespread recognition of AI's potential, research shows that a staggering 70-90% of AI projects fail due to various factors such as misaligned…

02 Sep

BC Jindal Group Enters Indian Sports with Acquisition of Hyderabad FC

MediaCatalystBusiness, Sports

Mumbai: Jindal Football, a part of the prominent BC Jindal Group, has announced its acquisition of the sporting license of Indian Super League (ISL) team Hyderabad FC. This move signifies the BC Jindal Group's first foray into the Indian sports scene, emphasizing their commitment to elevating the aspirational value of sports in India and fostering a platform for young Indian talent to flourish on the global stage. Hyderabad FC, fondly referred to as the Nawabs, is preparing for the upcoming 2024-25 ISL season. Their campaign kicks off with an away match against Bengaluru FC on September 19, 2024. As ISL…

02 Sep

Finolex Cables Introduces New Solar Cables with Advanced Technology

MediaCatalystBusiness

Pune: Finolex Cables, a prominent name in the wire and cables sector, has launched a new series of E-Beam irradiated LT XLPE Solar Cables. These cables offer enhanced resistance to UV rays and ozone and are manufactured in-house at Finolex's new state-of-the-art E-Beam facility in Pune, leveraging advanced electron beam technology. This strategic investment in the E-Beam facility is part of a larger Rs 500 crore capex plan previously announced by the company. This plan includes expanding manufacturing capacities, adopting advanced technologies, and strengthening supply chain infrastructure. Designed to excel in challenging environments, these innovative solar cables can operate at…

02 Sep

Vistara Merges into Air India, Flights to Continue Until November

MediaCatalystBusiness

Mumbai: Vistara is set to merge into Air India, marking the beginning of a new era for both airlines. The merger will result in a world-class airline with expanded reach and capabilities. Starting September 3, 2024, customers will progressively be unable to make bookings with Vistara for travel on or after November 12, 2024. All Vistara aircraft will be operated by Air India from that date onwards, and bookings for those routes will be redirected to Air India's website. Vistara will continue to accept bookings and operate flights as usual until November 11, 2024. During this transition period, both Vistara…

27 Aug

Ecom Express Unveils New Brand Identity

MediaCatalystBusiness

Mumbai: Ecom Express Limited (“Ecom Express”), a B2C e-commerce logistics solutions provider operating a pan-India express logistics network, has unveiled a new brand identity. This transformation reflects the company’s conscious commitment to being customer-focused, including addressing specific customer category needs, a focus on customer-facing metrics and key result areas, and seamlessly integrating innovative technology across its pan-India express logistics network, achieving speed, agility along with the widest levels of network reach, to deliver a customer-focused approach. This rebranding initiative features a vibrant, forward-thinking logo and a refreshed visual identity that symbolizes Ecom Express’s pursuit of excellence. The new logo, with its forward-moving arrow enclosed…