ENERGY BOOST
Budget 2024: Capex, SOPs, bold reforms top infra and energy companies' wish list
Budget 2024: Finance minister Nirmala Sitharaman on Friday met representatives from the infrastructure and energy sector as a part of her pre-budget consultations. "While the capex support for the infrastructure was common, the industry wanted bold reforms to push infrastructure projects, support for energy transition and tax incentives for solar and sector to meet India's goal to attain net-zero by 2070," said a person aware of the details of the meeting. The industry is also seeking a government roadmap for creating better cities.
Budget 2024 may see Modi government continue its pitch for India's green energy ambitions
BUDGET EXPECTATIONS: Industry experts anticipate the Union Budget 2024 will maintain the Modi government’s focus on renewable energy, emphasizing policy stability and increased investment. Sharad Mahendra of JSW Energy underscores the need for consistent policies to support long-term projects and a significant boost in annual renewable capacity to meet India’s 2030 target of 500 GW.
We expect policy stability, renewable energy investment from Budget 2024: Sharad Mahendra, JSW Energy
With these PPAs signing, the percentage of open capacity once these capacities get commissioned in a span of 18 to 24 months, ultimately the merchant portfolio will be even lower than 15% going forward. So, more of long-term PPAs will be there.
India asks utilities to order $33 billion in equipment this year to boost coal power output
India's government plans a $33 billion equipment order to accelerate coal-fired power capacity additions amid soaring electricity demand. Major firms like NTPC and Adani Power are expected to lead tendering, aiming to add 31 GW in 5-6 years. The move follows record-high power demand and recent supply challenges, prompting urgent action to bolster infrastructure.
Kazakhstan’s strategic investment plan aims to boost economic growth
Kazakhstan, Central Asia’s largest state rich in resources, is actively seeking foreign investments and global brands. Gabidulla Ospankulov, Chairman of the Investment Committee of the Kazakh Ministry of Foreign Affairs, outlined strategies to attract $150 billion in investments by 2029, aiming to elevate the national economy to $450 billion. Measures include state preferences, anti-corruption efforts, and reducing bureaucratic barriers.
Karnataka to set up solar park in Madhugiri, boost renewable energy production: Minister K J George
The Karnataka government plans to establish a solar park in Madhugiri taluk, following the success of the Pavagada Solar park in Tumakuru. The park will be developed in a strategic partnership with Tehri Hydro Development Corporation India Limited (THDCIL), owned by the central government. The project aims to enhance environmental stewardship and energy security in the state.
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US inflation cools in May, boosting hopes of Fed rate cut
May's stable inflation, influenced by service costs and goods prices, sets the stage for potential Federal Reserve interest rate changes. The report highlights slight consumer spending growth and hints at the Fed's aim for a controlled economic slowdown through core inflation moderation.
Hero Future Energies gets shortlisted for Bhubaneswar Hydrogen Valley project
Hero Future Energies (HFE), the renewable energy arm of the Hero Group, has been selected as a consortia partner for the Bhubaneswar Hydrogen Valley Innovation Cluster (HVIC). Operating as the industry partner for IIT-Bhubaneswar, HFE will focus on green hydrogen production for steel and mobility sectors through electrolyser technology.
Viability gap funding set to boost offshore wind energy space: Crisil
The government's outlay, announced on June 19, includes Rs 6,853 crore for the installation and commissioning of 1 GW of offshore wind energy projects of 500 MW each off the coast of Gujarat and Tamil Nadu. It also has Rs 600 crore for augmentation of two ports to meet the logistics requirements for offshore wind energy projects farms and encourage developers to enter this space.
US, Japan, South Korea vow strategic cooperation to boost security, economies
Commerce and trade ministers from the U.S., Japan, and South Korea agreed to cooperate on AI safety, export controls, clean energy, and semiconductor supply chains. U.S. Commerce Secretary Gina Raimondo emphasized the importance of collaboration for global security. Japanese Minister Ken Saito and South Korean Minister Ahn Duk-geun also attended the inaugural meeting, initiated at a Camp David summit. The ministers aim to strengthen supply chain resilience, particularly in semiconductors and critical minerals, and enhance cooperation in cybersecurity and technical standards to counter China's dominance in critical mineral supply chains.
India, Bangladesh decides to boost Himalayan-Bay of Bengal connectivity
Prime Ministers Narendra Modi and Sheikh Hasina announced plans to enhance regional connectivity at a summit on Saturday. The initiative aims to link the Himalayan states of Bhutan and Nepal with Bangladesh for improved business and investment opportunities in the Bay of Bengal region.
A big boost for a climate solution: electricity made from the heat of the Earth
Southern California Edison and Fervo Energy mark a significant advance with the largest geothermal power development in the US, showcasing the increasing demand for clean electricity and the commitment to zero-carbon energy in California.
Penna buy to help Ambuja Cem widen reach, boost margins
After acquiring Penna Cement Industries, Ambuja Cements stock fell by 1% to close at ₹657. The acquisition strengthens Ambuja's presence in southern, eastern, and western markets.
Vietnam greets Vladimir Putin in big boost to ties
A day after signing a mutual defence agreement with North Korea, Putin said that Moscow and Hanoi were interested in building what he called a reliable security architecture in the Asia-Pacific region. "We will also increase the efficiency of cooperation on these projects in the energy and gas sectors to create favorable conditions for the work of our companies," Putin said.
DGCA revamps seaplane regulations to boost sustainable operations
Under the new regulations, pilots holding a Commercial Pilot License can now qualify as seaplane-rated pilots by completing training at any International Civil Aviation Organization (ICAO)-recognized training organization globally. This change not only eases the pathway for pilots to acquire necessary qualifications but also broadens the pool of eligible pilots, experts say.
Russia boosts oil revenues as shipping and trading network grows
Russian oil exporters are selling oil to India at higher prices than at any time since the start of the Ukraine war, as more shippers and traders participate in the trade, weakening the impact of Western sanctions. The exporters have had to offer deep discounts to encourage shipping companies to move their crude since the invasion of Ukraine. Despite this, deals struck this month for Urals oil delivery to Indian refiners are at discounts of $3 to $3.50 per barrel to the global Brent crude benchmark, the narrowest since 2023.
TRADERS’ CORNER: IT services player in mobile space ready to pocket 12% gains; energy stock set for 7% boost
Nifty marked a new high but strong selling pressure pulled it down to close with a small gain.
Italy could play significant role in boosting India's advanced manufacturing capacity: Vincenzo de Luca
Italy's outgoing Ambassador to India highlights the crucial role of collaboration with India in advanced manufacturing to boost India's manufacturing capacity. Bilateral trade between Italy and India has seen significant growth, with a focus on machinery, automotive products, and luxury goods from Italy, and aluminium, steel, and iron from India.
Bureau of Energy Efficiency plans norms to make more products energy efficient
The power ministry body, which works on improving energy efficiency of electronic products, also plans to revise the energy efficiency levels of ten existing star-rated products such as refrigerators, ceiling fans, room ACs and distribution transformers this year to push manufacturers to launch more energy-efficient products. Over the next three years, it will make energy labelling norms compulsory for products such as LPG stoves, microwave ovens and induction hobs, which are voluntary at present, said Bakre.
Silver prices may hit Rs 1 lakh milestone in a year on solar, EV boost
The demand for silver is on the rise, driven by fast-growing industries like solar panels and electric vehicles. Analysts predict a surge in silver prices, with some projecting it to reach Rs 1 lakh per kg within a year. Factors such as bullish sentiments in emerging markets, increased investment in clean energy, and optimism regarding stimulus measures contribute to the bullish outlook.
Suzlon Energy to get $14 million FII boost from MSCI rejig after 386% returns in one year
Suzlon Energy's shares are poised to receive a $14 million boost from passive inflows due to increased weightage in the MSCI global standard index, as per Nuvama report.
Vedanta shares to get $54 million FII boost in MSCI reshuffle after 83% rally in 6 months
Vedanta's Q4 net profit down by over 27% YoY in March quarter. Investor sentiment remains positive with target prices raised. Chairman Anil Agarwal plans $20 billion investments in technology, electronics, and glass sectors in four years to diversify business activities.
Best Tulsi powder for herbal immunity boost and enhanced health
The article takes you into the world of Tulsi powder, a revered herb in Ayurveda known for its numerous health benefits. It explores various brands and types of Tulsi powder available in the market, considering factors like purity, potency, and sourcing methods. Each product is carefully reviewed and the synopsis provides you with a comprehensive overview of the best Tulsi powders, ensuring only the best is delivered at your doorstep.
Best Chyawanprash in India for strong and healthy immunity boost
The article lists the best Chyawanprash brands in India, providing you with insights into the best options available in the market. It delves into various factors such as ingredients, quality, efficacy, and customer reviews to compile a comprehensive list of recommended products. You can expect detailed analyses of each brand's formulation, including the number of Ayurvedic herbs used, presence of added sugars, suitability for diabetics, and overall health benefits. With a focus on promoting immunity, vitality, and overall well-being, the article serves as a valuable guide for individuals seeking the most effective Chyawanprash options in India.
European shares rise on energy boost, rate-cut hopes
European shares climbed on Monday, with investor optimism over interest rate cuts globally back to the fore, while Spanish defence and technology firm Indra jumped following a strong first-quarter profit.
EU lawmakers back law to boost domestic clean tech production
The act is a centrepiece of the EU's push to ensure it is not only a global leader in cutting greenhouse gas emissions, but also in manufacturing the clean tech required.
IT, financials lead Sensex rally, boosting investor wealth by Rs 4 lakh crore
Sensex surged 560 points, Nifty gained 189 points. Top contributors were ICICI Bank, L&T, Infosys, Axis Bank, Reliance Industries, SBI, Bajaj Finance. Conversely, HDFC Bank and NTPC weighed on the index.
10 Best Sports Drinks in India for Endless Energy
In India, the best sports drinks offer a refreshing and effective way to replenish electrolytes, restore energy levels, and enhance hydration during physical activity. With a variety of options available in the market, standout brands prioritize formulations that are scientifically developed to optimize performance and recovery. These sports drinks often contain a balanced mix of electrolytes like sodium, potassium, and magnesium, along with carbohydrates to fuel muscles and aid in post-exercise recovery. Trusted by athletes and fitness enthusiasts alike, the best sports drinks in India taste great and deliver essential nutrients to support peak athletic performance and overall well-being.
India must keep e-scooter subsidies to boost adoption, Ather CEO says
India's e-scooter market is small but growing, accounting for 5% of total two-wheeler sales in fiscal 2023-2024. Ather was one of the first to drive the pick-up in adoption with the launch of its 450 series of e-scooters in 2018, but has fallen behind larger rivals Ola Electric and TVS Motor, whose discounts have driven sales.
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