Giri world

The auto industry faces supply chain issues. China's restrictions on rare earth magnet shipments are the cause. Automakers request government to relax domestic value addition norms. This is for production-linked incentive scheme. Companies seek permission to import complete assemblies from China. This is a short-term solution to avoid production disruptions. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/4T3rBaM >

Byju's has sold its US subsidiaries, Epic and Tynker, through US bankruptcy proceedings as part of its asset liquidation after a financial downturn. Epic was acquired by TAL Education Group for $95 million, while CodeHS purchased Tynker for $2.2 million. These sales aim to help lenders recover losses from a $1. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/lUtq0Y5 >

The Ministry of Housing and Urban Affairs advises repurposing Smart Cities Mission SPVs after the scheme's closure on March 31. States and UTs are encouraged to assign new strategic roles to these SPVs, leveraging their expertise in technology, project implementation, and investment facilitation. This aims to sustain urban innovation and reinforce the capacity of Urban Local Bodies. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/ajcJmxL >

Despite Vijay Mallya's claims of settling his debts, the government and banks assert that he still owes a substantial amount. While banks have recovered Rs 10,815 crore from Kingfisher Airlines' dues, a gap of Rs 6,997 crore remains. Mallya's assertions appear to consider only the principal amount, neglecting accrued interest and penal charges, as lenders continue recovery efforts. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/VULm8kt >

Top US and Chinese officials convened in London to de-escalate trade tensions that have destabilized global markets. Discussions, led by key figures like He Lifeng and Howard Lutnick, follow a temporary truce established in Geneva. Disagreements persist over semiconductors, visa restrictions, and rare earth mineral exports, a critical point of contention given China's recent export license requirements. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/lD35x0P >

The automobile industry is requesting government assistance to speed up Chinese government approvals for importing rare earth magnets, essential for passenger cars and other applications. Domestic suppliers have applied through Chinese vendors, but approvals are pending. China, controlling over 90% of global processing, now requires export licenses for seven rare earth elements, impacting multiple sectors. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/NJmh6TW >

Delhi's infrastructure is set for a major boost as the Centre approves projects worth Rs 24,000 crore to ease traffic and pollution. A key project is the Rs 3,500 crore, five-kilometre tunnel connecting Dwarka Expressway to Vasant Kunj, promising signal-free connectivity and decongesting critical traffic points. Construction is expected to begin next year, offering relief to millions. from Latest Business News Today: Stock Markets, Financial News, India Business & World Business News https://ift.tt/QLaR8CF >