
Indian electric two-wheeler maker Ola Electric reports wider first-quarter loss
India automaker Mahindra, parts maker Minda eye local magnet production
The Bengaluru-based firm reported a loss of 4.28 billion rupees ($49.80 million) for the April-June quarter, bigger than the 3.47 billion rupees it posted last year.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Business Recorder
4 hours ago
- Business Recorder
Zubair Shaikh to continue as Wafi Energy Pakistan CEO
Wafi Energy Pakistan Limited, formerly Shell Pakistan Limited, announced on Tuesday that Zubair Shaikh would continue to be the Chief Executive Officer (CEO) of the company. This was shared by the company in a notice to the Pakistan Stock Exchange today. Wafi is a publicly listed company incorporated in Pakistan. The company is majority-owned by Wafi Energy Holding Limited, based in Abu Dhabi, United Arab Emirates. Wafi is the exclusive brand licensee for Shell in Pakistan. In January this year, the company released its first annual report under new ownership, marking a transition point for the company following its acquisition by Abu Dhabi-based Wafi Energy Holding Limited. The transaction, completed in October 2024, involved the purchase of a 77.42% stake from Shell Petroleum Company, followed by an additional 10.36% acquired from public shareholders, bringing Wafi's total holding to 87.78%.


Business Recorder
5 hours ago
- Business Recorder
Highnoon Labs partners with Bangladesh's Beximco to target high-burden diseases in Pakistan
Highnoon Laboratories Limited (HINOON), a Pakistani pharmaceutical company, has announced a strategic partnership with Beximco Pharmaceuticals Limited, a leading Bangladesh-based drug manufacturer, to collaborate on the distribution and marketing of specialised pharmaceutical products in Pakistan. The listed pharmaceutical disclosed the development in its notice to the Pakistan Stock Exchange (PSX) on Tuesday. 'The company has entered into a strategic partnership with Beximco Pharmaceuticals Limited, a leading Bangladesh-based pharmaceutical company having state-of-the-art manufacturing facilities, accredited by the regulatory authorities of the USA, Australia, the European Union, Canada, and Brazil,' read the notice. HINOON shared that a memorandum of understanding (MoU) has been inked between the two companies to collaborate for the distribution and marketing of specialised pharmaceutical products in Pakistan, with the focus on high-burden therapeutic areas including respiratory, diabetes, and cardiovascular diseases. Bangladesh firm opens outlet in Karachi 'Through this partnership, the company will bring newer therapies, dosage forms and delivery systems for the ease of use and better clinical results for patients and improve access to the advanced medications. This strategic alliance will make a significant contribution to the recent expansion of trade relations and economic cooperation between Pakistan and Bangladesh,' read the notice. Beximco Pharmaceuticals Ltd. is an emerging generic drug player committed to providing access to affordable medicines. It currently focuses on building presence in many emerging and developed markets around the world. Meanwhile, Highnoon Laboratories Limited was incorporated in Pakistan as a private limited company in 1984 and was converted into a public limited company in 1995. The principal activity of the company is the manufacturing, import, sale and marketing of pharmaceutical and allied consumer products.


Business Recorder
6 hours ago
- Business Recorder
Copper prices ease on caution amid tariff talks
Copper prices slipped on both the London and Shanghai exchanges on Tuesday, as traders weighed U.S.-China negotiations and the talks between the world's top copper producer Chile and the U.S. over the latter's 50% copper tariffs from August 1. The three-month copper contract on the London Metal Exchange was down 0.35% at $9,758.5 per metric ton by 0704 GMT, while the most-traded copper contract on the Shanghai Futures Exchange edged down 0.18% to 78,840 yuan ($10,985.09) a ton. 'The softening in copper prices reflects similar declines in other Chinese futures and is likely to be short-lived, as traders are cautious and closely watching U.S.-China trade talks and developments in U.S. copper import tariffs,' a Shanghai-based analyst at a futures company said. Top U.S. and Chinese economic officials are in Stockholm since Monday to resolve trade disputes between the world's top two economies, and to extend a truce by three months. Copper under pressure as demand falters ahead of crucial week Elsewhere, Chile, the largest provider of refined copper to the U.S., expects U.S. copper tariffs to be discussed within broader trade talks in Washington this week, Finance Minister Mario Marcel said on Monday. Among other LME metals, aluminium slid 0.65% to $2,614.5 a ton, nickel fell 0.45% to $15,200, zinc lost 0.34% to $2,808, lead eased 0.12% to $2,014.5 and tin decreased 0.31% to $33,610. SHFE nickel fell 0.85% to 121,800 yuan a ton, aluminium dipped 0.22% to 20,605 yuan, zinc was down 0.35% at 22,655 yuan, tin lost 0.76% to 266,660 yuan, and lead eased 0.24% to 16,900 yuan.