Uk Firms

RHI Magnesita investing Rs 3,600-cr in India to expand capacity: CEO Borgas

Vienna-based RHI Magnesita is investing Rs 3,600 crore in the Indian market over the next two-three years to increase its production capacity and modernise plants, its global CEO Stefan Borgas said. The company has utilised a portion of the Rs 3,600-crore capital expenditure to acquire two refractory assets in India, Borgas told PTI here. "We have earmarked a Rs 3,600 crore investment in India. This would go towards organic and inorganic capacity expansion and modernisation of the Indian manufacturing facilities," the CEO said, adding that the capital infusion will be through its subsidiary RHI Magnesita India Ltd. RHI Magnesita India is a manufacturer and supplier of refractory products, systems, and solutions for industries such as steel, cement, non-ferrous metals, and glass. The company recently completed the acquisition of Dalmia OCL and the refractory business of Hi-Tech Chemicals for Rs 1,708 crore and Rs 621 crore, respectively. The refractory building capacity of the comp

SRAM & MRAM to invest Rs 2 trillion in Odisha, set up semiconductor unit

United Kingdom-based SRAM & MRAM Group vice-chairman Gurujee Kumaran Swami on Saturday announced that the group will invest Rs 2 lakh crore in Odisha to set up semiconductor unit in the state. The announcement was made at the Make in Odisha (MIO) Conclave, 2022 here. Swami and the company's Odisha in-charge Debadutta Singh Deo said the group will invest Rs 30,000 crore in the first phase. Earlier they met Chief Minister Naveen Patnaik and briefed him on the proposed project. They also discussed in detail about the project with chief secretary SC Mohapatra, Industries secretary Hemant Sharma and other officials. Meanwhile, the Odisha government received large investment commitments and signed multiple MoUs in Electronics and IT at the MIO Conclave. A direct investment commitment of Rs 8,200 crore has been received which is likely to create over 40,000 jobs in the state, an official said. The big names which made investment commitments or signed MoUs include Intel, Oracle, Global .

New UK govt examining our proposal, promised to come back soon: Narendran

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon

UK firms expect to raise prices 6% in 12 months, see inflation lingering

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

TVS SCS extends contract with Dennis Eagle for UK aftermarket services

UK-based refuse truck manufacturer needed services for supplier management, stocking and sourcing

Deal activity has spiked in India despite global issues: Goldman Sachs MDs

In a Q&A, Rajat Sood and Som Krishna say their company isn't absolutely return-focused, but is a relative value investor that is looking out for bogh buyouts and minority stakes

Wockhardt likely to sell India business to cut debt, focus on UK: Analysts

Company left with low-margin brands in India after selling profitable ones

UK shows labour market slowdown with recession concerns rising: Survey

As a result, vacancies and the number of people placed in roles both rose at the slowest pace in more than a year and a half

Tata Motors' Q1 loss widens to Rs 5,007 cr amid chip woes, China lockdown

Losses at the UK subsidiary widened to £482 million, from £286 million, as JLR retail sales fell 37 per cent to 78,825 units from the year-ago quarter

UK media regulator Ofcom revokes RT's license to broadcast in country

The UK Office of Communications (Ofcom) on Friday announced that it has revoked Russia Today's license to broadcast in the country "with immediate effect".

Volex acquires majority stake in inYantra Tech in $13-mn transaction

inYantra Technologies Pvt Ltd on Monday said UK-based integrated manufacturing-services and power products company Volex plc has acquired a majority stake in it in a transaction totalling $13 million

Hindujas top rich British Asians' list, wealth rises £2.5 billion

No Covid-induced gloom as British-Asian businesses record over 20% rise in combined wealth in 2021

India opens inflight data market to UK satellite firm Inmarsat

Inmarsat's connectivity comes from satellites in geostationary orbit, but it will likely end up competing with new deep-pocketed low-earth orbit satellite rivals like Elon Musk's SpaceX

UK-based Tide forays into India, commits Rs 1,000-crore investment

Tide is a British company focused on providing financial and administrative solutions to small businesses

UK companies hire the most in 23 years after Covid-19 lockdown loosens

Relaxed restrictions lifted their Permanent Placements Index to 67.4, showing strong growth.

Triumph launches all-new Trident 660 model in India, priced at Rs 6.95 lakh

Triumph on Tuesday launched an all-new Trident 660 model in India at an introductory price of Rs 6.95 lakh (ex-showroom), making its foray into the middleweight roadster segment

Food delivery firm Deliveroo eyes $12 billion market cap in upcoming IPO

Deliveroo said on Monday that its upcoming initial public offering will value the company at up to 8.8 billion pounds ($12.19 billion)

Britain's NatWest bank faces money laundering charges, rise in costs

The action is the first such case against a British bank under a 2007 money laundering law

UK to hike corporation tax to 25% from 19% from 2023, says FM Sunak

Sunak said small businesses with profits of less than 50,000 pounds a year would be charged only 19%

New 'Britain Meets India' report identifies 572 UK companies in India

The report, by Grant Thornton Bharat and Confederation of Indian Industry (CII), is the sister tracker of an annual 'India Meets Britain' tracker of Indian companies operating in the UK