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  1. Business News Highlights: There will be no impact on India-US bilateral relationship post-election, says think tank expert

Business News Highlights: There will be no impact on India-US bilateral relationship post-election, says think tank expert

Upstox

5 min read | Updated on September 06, 2024, 18:35 IST

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SUMMARY

Stay tuned for live updates on the latest business news, trends, and breaking developments on September 6, 2024.

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  1. Maharashtra govt gives nod to 4 mega semiconductor, EV projects; Rs 1.17L cr investment proposed

    The Maharashtra government has given approval to four high technology mega projects, which entail a cumulative investment of Rs 1.17 lakh crore and with a potential of creating 29,000 jobs, in Marathwada, Vidarbha, Pune and Panvel near Mumbai.

    The decision was taken at a meeting of the cabinet sub committee of the industries department on Thursday evening, officials said.

    The projects would result in investment in sectors like semiconductors and electric vehicle manufacturing, a statement from the chief minister's office (CMO) said on Friday, adding it would help Maharashtra get the identity of a leader state in the EV sector.

    September 06, 2024, 18:34 PM

  2. Malaysia Airlines plans to connect more non-metro cities in India

    Malaysia Airlines plans to fly to more non-metro cities in India as well as increase the frequency of flights to Ahmedabad and Trivandrum, a senior airline official said on Friday.

    The carrier, part of the Malaysia Aviation Group (MAG), currently connects nine Indian cities with Kuala Lumpur and operates 71 weekly flights to India.

    Dersenish Aresandiran, Chief Commercial Officer of Airline Business at MAG, said Malaysia Airlines plans to increase frequencies to Ahmedabad and Trivandrum.

    September 06, 2024, 17:37 PM

  3. Ashwini Vaishnaw, Anil Kapoor are among Time magazine’s 100 most influential people in AI

    Union Information Technology Minister Ashwini Vaishnaw, Infosys co-founder Nandan Nilekani and actor Anil Kapoor are among Indians who have been honoured in Time magazine's prestigious list of the 100 "Most Influential People in AI 2024".

    The list, released on Thursday, features 15 Indian or Indian-origin people. Among them are Sundar Pichai of Google, and Satya Nadella of Microsoft.

    September 06, 2024, 15:59 PM

  4. Spicejet plans to raise over Rs 3,200 crore via debt, equity

    Cash-strapped domestic carrier Spicejet plans to raise over Rs 3,200 crore through various debt and equity instruments and capital infusion by the promoter, the airline said in a corporate presentation.

    The funds will be utilised in fleet ungrounding, liability settlement, new fleet induction and other general purposes, SpiceJet said in the presentation.

    "Spicejet plans to raise Rs 2,500 crore through QIP and Rs 736 crore through Previous Warrants and promoter infusion," it said.

    The proposed fundraising is subject to shareholders' approval, it added.

    September 06, 2024, 15:57 PM

  5. Swiggy launches Incognito Mode for private ordering of food, quick commerce

    On-demand convenience platform Swiggy on Friday said it has launched an industry-first Incognito Mode feature, allowing users to place orders privately across food and quick commerce.

    Whether planning a surprise, indulging in a personal treat, or making a discreet purchase, Incognito Mode keeps these orders out of the app's history, eliminating the need to manually delete them.

    Available on both Swiggy Food and Instamart, Incognito Mode ensures that users can place orders and keep their selections private. Read more.

    September 06, 2024, 14:57 PM

  6. Strides gets USFDA nod for Theophylline extended-release tablets

    Strides Pharma Science Ltd on Friday said its arm has received approval from the US health regulator for its generic version of Theophylline extended-release tablets indicated for management of various respiratory conditions, including chronic asthma.

    The approval granted by the US Food & Drug Administration (USFDA) to Strides Pharma Global Pte Ltd, Singapore, is for generic version of Theophylline Extended-Release Tablets 300 mg and 450 mg, Strides Pharma said in a regulatory filing.

    The product is bioequivalent and therapeutically equivalent to the Reference Listed Drug (RLD), THEO-DUR of Schering Corp, it added.

    September 06, 2024, 14:19 PM

  7. ISA, MIGA set up multi-donor trust fund to support solar projects

    The Multilateral Investment Guarantee Agency (MIGA), part of World Bank Group Guarantees and the International Solar Alliance (ISA), on Friday announced the setting up of a fund to support solar projects.

    The MIGA-ISA Solar Facility, a multi-donor trust fund, will combine ISA's technical expertise and MIGA's capacity to mobilise financing, creating an innovative mechanism to accelerate the global adoption of solar energy, according to a statement.

    The facility will offer concessional financing tools, including first-loss instruments and reinsurance capacity, to improve project bankability and lower the cost of MIGA guarantees. Read more.

    September 06, 2024, 13:30 PM

  8. There will be no impact on India-US bilateral relationship post-election, says think tank expert

    The relations between India and the US over the last three decades have become strong and well entrenched irrespective of whether a Democrat or a Republican is elected as president, a top American think-tank expert has said, exuding confidence that bilateral ties would remain unchanged in the next administration. Read more.

    September 06, 2024, 11:15 AM

  9. US pension funds to visit India next week for investment opportunities

    US Consul General in the financial capital Mike Hankey on Thursday said five pension funds from America, having over USD 1.8 trillion of assets under management, will be visiting India to scout for long-term investment opportunities next week.

    Without disclosing their names or the investment targets, he said the visiting executives from the funds will also be meeting financial regulators like the RBI and SEBI and also trying to understand the booming initial public offerings (IPO) in India. Read more.

    September 06, 2024, 09:23 AM

  10. Amazon India exports to reach $13 billion by 2024-end: Bhupen Wakankar

    Amazon Global Selling, the exports programme of the e-commerce giant, will surpass $13 billion in cumulative e-commerce exports from India by the end of 2024 and is on track to achieve its $20 billion target by 2025, a senior official said on Thursday.

    In an interview with PTI, Amazon India Director Global Trade Bhupen Wakankar said the exports programme, since its inception in 2015, has sold over 40 crore Made in India products to customers worldwide. Read more.

    September 06, 2024, 11:02 AM