NEWS

Isro to launch GSAT-20 satellite aboard SpaceX’s Falcon 9 rocket.

Isro to launch GSAT-20 satellite aboard SpaceX’s Falcon 9 rocket.

05 Jan 2024

NewSpace India Ltd (NSIL), the commercial arm of the Indian Space Research Organisation (Isro), has signed a contract with SpaceX, the space exploration venture of billionaire Elon Musk, for the launch of Isro’s communication satellite GSAT-20.

Microchip Technology set to receive $162 million award from U.S. to boost production

Microchip Technology set to receive $162 million award from U.S. to boost production

05 Jan 2024

The U.S. Commerce Department announced plans on Thursday, 4 January 2024, to grant $162 million to Microchip Technology in government funding, aiming to enhance the production of semiconductors and microcontroller units (MCUs) critical for the consumer and defense industries.

REC, Bank of Baroda join hands to finance power, infrastructure and logistics projects

REC, Bank of Baroda join hands to finance power, infrastructure and logistics projects

05 Jan 2024

REC Limited has signed a memorandum of understanding (MoU) with Bank of Baroda to facilitate joint lending to finance power, infrastructure and logistics projects in the country over the next three years.

IIT Bombay develops equipment for recycling waste plastics

IIT Bombay develops equipment for recycling waste plastics

05 Jan 2024

IIT Bombay has developed an indigenous equipment for mechanical recycling of waste thermoplastic polymers to composites.

Govt revises incentives scheme for auto sector, extends it by 5 years

Govt revises incentives scheme for auto sector, extends it by 5 years

04 Jan 2024

The government has extended the tenure of the Production Linked Incentive (PLI) scheme for automobile and auto components by five years beginning the current financial year, ie, 2023-24.

India's fintech sector faced a 63% funding decline in 2023

India's fintech sector faced a 63% funding decline in 2023

04 Jan 2024

Amid the funding winter, India’s fintech sector experienced a significant setback, with a 63% decline in fund inflows throughout 2023, according to a report by Tracxn.

Reliance and Disney initiate antitrust diligence for merger in India

Reliance and Disney initiate antitrust diligence for merger in India

04 Jan 2024

Indian business tycoon Mukesh Ambani’s Reliance Industries and global entertainment giant Walt Disney have taken decisive steps towards their proposed merger with the Indian media and entertainment sector.

IndiGo announces removal of fuel charges amid ATF price drop

IndiGo announces removal of fuel charges amid ATF price drop

04 Jan 2024

IndiGo, one of India’s leading airlines, announced on Thursday, 4 January 2024, that it would eliminate fuel charges on all domestic and international flights.

Disney secures support from activist investor ValueAct Capital

Disney secures support from activist investor ValueAct Capital

04 Jan 2024

In a significant development, The Walt Disney Company has garnered support from ValueAct Capital, a notable activist hedge fund. This backing comes amid board challenges posed by billionaire financier Nelson Peltz.

SpaceX faces allegations of wrongful employee firings

SpaceX faces allegations of wrongful employee firings

04 Jan 2024

SpaceX, the renowned rocket and satellite manufacturer, has come under scrutiny as a U.S. labor agency accuses the company of unlawfully terminating eight employees.

Chennai tax officials issue a Rs. 663 crore GST demand notice to LIC

Chennai tax officials issue a Rs. 663 crore GST demand notice to LIC

04 Jan 2024

The Life Insurance Corporation of India (LIC) stated on Wednesday, 3 January 2024, that tax authorities have issued a demand notice amounting to approximately Rs 663.45 crore, citing short payment of Goods and Services Tax (GST).

Intel's new AI software firm, Articul8, secures backing from DigitalBridge

Intel's new AI software firm, Articul8, secures backing from DigitalBridge

04 Jan 2024

In a significant development on Wednesday, 3 January 2024, Intel announced the creation of a new independent company dedicated to its artificial intelligence software endeavors.

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