Author: News Desk
Lalit Khaitan, a leading figure in India’s alcohol industry, is now ranked among the top billionaires in India by Forbes. With a net worth of $380 million, Dr. Lalit Khaitan is the chairman of Radico Khaitan, an 80-year-old company. Lalit Khaitan’s rapid growth in the liquor business has propelled him to the top of Forbes’ latest billionaire list in India. He has achieved this by steering Radico Khaitan through the swift expansion of the Indian alcohol industry. Magic Moments Vodka, 8 PM Whisky, Old Admiral Brandy, and Rampur Single Malt, produced in the foothills of the Himalayas, are some of…
In the wake of the successful Chandrayaan-3 mission, Indian Space Research Organisation (ISRO) Chief S Somanath has declared that India’s lunar endeavors are far from over. Speaking at the Rashtrapati Bhavan Cultural Centre, he expressed ISRO’s ambitious plan to retrieve moon rocks from the lunar surface. Moon Rocks Mission: A Formidable Challenge Acknowledging the complexity of the mission, Somanath emphasized the technological challenges involved in safely landing on the moon, recovering samples, and returning to Earth. He highlighted the intricacies of autonomous operations, stating that the sample return mission demands advanced technology beyond the current capabilities. Four-Year Target: Human Presence…
The Bhabha Atomic Research Centre (BARC) has devised a method to preserve onions for an extended period with the use of radiation technology. Using the irradiation process, BARC aims to increase the shelf life of onion, allowing them to remain fresh for up to eight months. This technology holds promise for farmers, as it enables them to store produce without the risk of spoilage. The KRUSHAK Irradiation Centre in Lasalgaon, Nashik, can stockpile 250 tons of onions using radiation technology. Fruits like mangoes and tomatoes are also treated at the irradiation center in Lasalgaon, ensuring they stay fresh for an extended period.…
Adani Ports and Special Economic Zone (APSEZ) is charting a strategic move with plans to issue up to 10 billion rupees (approximately $120 million) in bonds through private placement. This initiative marks a significant development as it represents the company’s first foray into the local currency market in the past two years. Sizing up the Offering Insiders familiar with the matter have disclosed that the proposed bond issuance has a base size of 5 billion rupees, with an additional 5 billion rupees earmarked for oversubscription. This move aligns with APSEZ’s financial strategy, aiming to capitalize on market demand and potential…
India’s e-B2B platform Udaan said on Thursday that it has raised $340 million in Series E funding round, led by M&G Pls. Existing equity investors like Lightspeed Venture Partners and DST Global participated in the round. The fund raise is subject to regulatory approvals. The funding reportedly includes a combination of fresh equity investment as well as the conversion of existing debt (convertible notes) into equity. The startup claims that it will strengthen its balance sheet. With this exercise, Udaan’s business is fully funded, it said in a press release. “Series E round strengthens our balance sheet and fully funds…
S&P Global Ratings has downgraded Vedanta Ltd parent Vedanta Resources’ long-term issuer credit rating and long-term issue ratings on specific bonds due in January 2024, August 2024, and March 2025 from ‘CCC’ to ‘CC’. The downgrade stems from the ongoing liability management exercise initiated by the Anil Agarwal-led company to extend the maturities of its three US dollar-denominated bonds. S&P considers the successful completion of this exercise as a distressed exchange, potentially leading to a further downgrade of Vedanta Resources to ‘SD’ (selective default) and lowering the ratings on the three bonds to ‘D’. The credit watch status indicates the…
NEOM’s Board of Directors introduces Utamo, a groundbreaking destination for art and entertainment that promises to redefine traditional experiences. Nestled in the northwest of Saudi Arabia along the Gulf of Aqaba coastline, Utamo emerges as the latest jewel in NEOM’s sustainable regional development initiative. Utamo’s Unique Setting: Situated within a mountain, Utamo offers an immersive backdrop for global artists, designed to host music events, exhibitions, and art activations. The venue seamlessly blends natural beauty with cutting-edge technology, creating a space where art and architecture coalesce for a distinctive and unparalleled experience. Entrance and Grand Hall Visitors will embark on a…
Corporate India is poised for robust hiring over the next three months, outshining its global counterparts, with an impressive 37% of employers expressing plans to expand their workforce, buoyed by a surge in domestic demand. This optimistic outlook emerges from the latest ManpowerGroup Employment Outlook Survey, which involved close to 3,100 employers across various sectors and regions. Notably, India’s Net Employment Outlook (NEO) stands as the highest among 41 countries surveyed. For the January-March 2024 period, the NEO, calculated by subtracting the percentage of employers anticipating reductions from those planning to hire, registers at a substantial 37%. This figure marks…
As part of its philanthropic ‘Work for Humankind Initiative,’ technology company Lenovo has taken strides in the revival of indigenous millet varieties in Kanthalloor, Kerala. Lenovo has established a digital center at the Institute of Human Resources Development (IHRD) College for Applied Sciences in Kanthalloor, offering crucial digital and technical support. The primary objective is to empower farmers with technology tools to enhance millet production processes and establish market linkages. Under this initiative, Lenovo has collaborated with local farmers and set up a digital center to provide access to technology tools. The project, initiated in October, involved 25 farmers cultivating…
In a groundbreaking move towards sustainable maritime transportation, India proudly welcomes the Barracuda, the nation’s fastest solar-electric boat. Launched at the Navgathi Panavally Yard, this cutting-edge vessel represents a significant leap in India’s commitment to green energy and sustainability. Collaborative Innovation Developed through a collaborative effort between Mazagon Dock Shipbuilders Ltd and Navalt, the Barracuda is a testament to the power of partnerships in driving transformative change in the maritime industry. Unveiling the Barracuda The launch ceremony, graced by key figures such as Shri. Sanjay Kumar Singh and Sandith Thandasherry, unveiled the Barracuda as a meticulously designed vessel by Navalt…