Business
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Hyundai to build $5.5 bn EV, battery plant in US
Seoul: South Korea’s Hyundai Motor Group said on Saturday that it will invest $5.54 billion to build a dedicated electric vehicle and car battery manufacturing plant in the US to further solidify…
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FDI inflow hits all-time high of USD 83.57 bn in 2021-22
New Delhi: Total foreign direct investment into India rose 2 per cent to the “highest ever” USD 83.57 billion in 2021-22 on account of various measures like policy reforms and ease of…
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Hyundai chief to drum up support for air mobility, robotics with Biden
Seoul: Chung Eui-sun, the chief of South Korea’s auto giant Hyundai Motor Group, was expected to ask for Washington’s support for the group’s push in burgeoning sectors that include urban air mobility…
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Musk sees net worth shrink by $12 bn amid ESG fiasco
San Francisco: Tech billionaire Elon Musk recently saw over $12 billion wiped off his net worth following Tesla stock’s recent drop and the S&P Global Ratings’ decision to boot Tesla from its…
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Markets rebound after heavy decline in previous trade
Mumbai: Equity benchmarks made a sharp recovery on Friday after a heavy decline in the previous trade, with the Sensex jumping 907 points in early trade, tracking positive trends from Asian markets.…
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Vintage Mercedes sells for nearly Rs 1,100 cr, becomes world’s most expensive car
Toronto: A vintage 1955 Mercedes-Benz has been sold for $143 million (about Rs 1,100 crore), making it the most expensive car ever sold at an auction. Canada-based RM Sotheby’s announced that it…
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Bezos reminds Amazon baiters how Wall Street, Business Week pundits missed a $62bn biz
New York: Jeff Bezos – who now owns 10 per cent of the company after he and wife MacKenzie divorced in 2019 after 25 years of marriage and he transferred a quarter…
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Intel to invest $700 mn on R&D in innovative data centre tech
San Francisco: Chip-maker Intel has announced plans to invest more than $700 million for a research and development mega lab focused on innovative data centre technologies. Additionally, the company introduced the technology…
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Lucid signs agreement to establish its 1st factory in Saudi
Riyadh: United States (US) based electric car maker Lucid Motors, on Wednessay signed agreements to establish its first factory outside the United States of America (USA), in the Kingdom of Saudi Arabia…
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BharatPe launches investment platform for merchants after Ashneer saga
New Delhi: With an aim to leave behind the Ashneer Grover controversy and bring business on track, fintech platform BharatPe on Thursday launched an investment platform for its merchant partners. In the…
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3 senior Twitter employees quit amid Musk-Agrawal slugfest
San Francisco: Amid the ongoing slugfest between Tesla CEO Elon Musk and Parag Agrawal, more Twitter executives have moved on, apparently sensing what may come their way at the micro-blogging platform in…
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Markets continue to rally; Sensex jumps 345 points in early trade
Mumbai: Benchmark indices continued their upward march for the third day running on Wednesday, with the Sensex jumping nearly 345 points in early trade, amid rally in the US markets and buying…
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Rupee slips 6 paise to 77.50 against US dollar in early trade
Mumbai: The rupee depreciated 6 paise to 77.50 against the US dollar in the opening trade on Wednesday as a surging American currency in the overseas markets and persistent foreign fund outflows…
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Sri Lanka receives USD 160 million from World Bank
Colombo: Sri Lanka has received USD 160 Million from the World Bank and is looking at the possibility of using some of it to buy fuel, Prime Minister Ranil Wickremesinghe told Parliament…