Thursday, November 28
FMCG and ayurvedic products maker Dabur is planning to establish a new factory in South India within a year to meet the growing demand in the region. The company is focusing on customizing products for the South Indian market and aims to increase its business in the region, which currently contributes 20% of its domestic sales. Dabur is also expanding its manufacturing activities in international markets, particularly in the Middle East and Europe.
The government has granted approval to 27 companies, including Dell, HP, Foxconn, and Lenovo, under the Rs 17,000 crore production-linked incentive (PLI) scheme for IT hardware. The move is part of India's efforts to position itself as a global hub for hi-tech manufacturing. The companies will invest Rs 3,000 crore and are expected to start manufacturing from day one. The incentives under the PLI scheme have been significantly increased to attract companies.
Three US lawmakers are calling for greater scrutiny of worker safety at Elon Musk's SpaceX following a Reuters investigation that documented hundreds of injuries at the rocket company's US manufacturing and launch sites. The November 10 Reuters report detailed at least 600 previously unreported workplace injuries since 2014 at SpaceX including crushed limbs, amputations, head injuries and one death. The Reuters report found that injury rates at three major SpaceX industrial facilities in Texas and California far exceeded the average for the space industry.
X Corp, formerly known as Twitter, will file a lawsuit against Media Matters and those who attacked social media platform X, Elon Musk said on Saturday in a post on the platform, soon after major US companies paused their advertisements on the site. "The split second court opens on Monday, X Corp will be filing a thermonuclear lawsuit against Media Matters and all those who colluded in this fraudulent attack on our company," Musk wrote in a post on X, without naming any other parties.
The Global Listed Infrastructure (GLI) sector, analyzed by Morgan Stanley Investment Management (MSIM), remains resilient in the face of short-term challenges and has a positive long-term outlook. Despite underperforming in 2023, GLI shows solid fundamentals in various infrastructure sectors. The Utilities, Energy Infrastructure, Communications, and Transportation categories all have positive trends, with only the US wireless tower subsector facing challenges.
The National Payments Corporation of India (NPCI) has asked payment apps and banks to deactivate UPI IDs and numbers that have been inactive for over a year. The move aims to prevent unintended money transfers due to old mobile numbers being issued to new users.
