Latest news with #HritamMukherjee
The Star
2 days ago
- Business
- The Star
India's Infosys to buy 75% stake in Telstra unit for $153 million
FILE PHOTO: A logo of Infosys sits outside the company's house on the opening day of the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 20, 2025. REUTERS/Yves Herman/File Photo (Reuters) -Indian IT services company Infosys said on Wednesday that it would take a 75% stake in Versent Group, a wholly owned unit of Australia's Telstra Group, for A$233.3 million ($153 million). Versent Group provides cloud services to Australian organisations in sectors such as finance, energy, utilities, government and education, Infosys said in a statement. The deal, which Infosys says will boost its local presence, is expected to close by the second half of fiscal 2026, subject to approvals from Foreign Investment Review Board of Australia and Australian Competition and Consumer Commission. U.S.-listed shares of Infosys rose after the news and were last up 1.6% at $16.33. ($1 = 1.5279 Australian dollars) (Reporting by Hritam Mukherjee in Bengaluru, additional reporting by Medha Singh, Editing by Anil D'Silva)
Yahoo
07-08-2025
- Business
- Yahoo
Nayara Energy seeks ships from India to ferry refined fuels, Indian government source says
By Nidhi Verma NEW DELHI (Reuters) -Russia-backed private refiner Nayara Energy, which was sanctioned by the European Union last month, has sought help from India's shipping ministry to get vessels for the movement of its refined fuels, a government source said on Thursday. Sanctions-hit Nayara is struggling to get vessels for the supply of refined fuels for its retail stations in India. The private refiner has already cut crude runs at its refinery. Since EU's sanctions, Nayara has faced shippers asking for termination of contracts and Microsoft briefly suspending critical services. The ministries of shipping, oil and foreign affairs will shortly meet to look into Nayara's request, the source told reporters after a meeting with Nayara officials. New Delhi is exploring possibilities of arranging India-flagged vessels of local companies for the private refiners. Vessel owners are citing problems including availing insurance cover for undertaking voyages for Nayara, the source added. (Writing by Hritam Mukherjee; Editing by Sonia Cheema and Nivedita Bhattacharjee) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-08-2025
- Business
- Yahoo
India's R R Kabel says 'won't take extra hit' to supply to US; to shift exports after tariff impact
By Hritam Mukherjee and Ananta Agarwal (Reuters) -India's top wire exporter R R Kabel will ramp up shipments to key markets, including Europe and the Middle East, to cushion the impact of a 25% U.S. tariff on Indian goods, a senior executive told Reuters on Friday. "I will not take any extra hit on my profit and loss (statement) just to make supply to the U.S.," finance chief Rajesh Jain said in an interview, adding that he will pass on any price increases to his customers. Jain reaffirmed the firm's 2026 fiscal year volume growth forecast of 16%-18%, saying R R Kabel plans to hedge against U.S. risks by redirecting products to other key markets. While the United States contributes just 2.5% to R R Kabel's revenue, it accounts for around 10% of its export income. Europe and the Middle East, in comparison, contribute approximately 40% and 35% of overseas revenue, respectively. "Sometimes when you are dealing in so many markets, so many products, there you can compensate if there is any negative movement in any of the geographies," he added. Jain said his U.S. clients are in "wait and watch" mode amid tariff uncertainties, but added that existing orders have not been cancelled yet. Trump on Wednesday said that Indian exports to the U.S. will face a 25% tariff from August 1 as well as an undisclosed penalty. R R Kabel is among the first few Indian companies to react to the tariffs. On Thursday, Tata Steel's chief executive told Bloomberg News that the company is also exploring alternative markets.
The Print
12-07-2025
- General
- The Print
Air India crash probe prelim report: Fuel cutoff switches to both engines flipped seconds after take-off
One pilot can be heard on the cockpit voice recorder asking the other why he cut off the fuel. 'The other pilot responded that he did not do so,' the report said. The Boeing 787 Dreamliner immediately began to lose thrust and sink down, according to the report released on Saturday by Indian aviation accident investigators. A preliminary report into the Air India crash that killed 260 people last month showed three seconds after taking off, the plane's engines fuel cutoff switches almost simultaneously flipped from run to cutoff, starving the engines of fuel. It did not identify which remarks were made by the flight's captain and which by the first officer, nor which pilot transmitted 'Mayday, Mayday, Mayday' just before the crash. The preliminary report also does not say how the switch could have flipped to the cutoff position on the June 12 London-bound flight from the Indian city of Ahmedabad. U.S. aviation safety expert John Cox said a pilot would not be able to accidentally move the fuel switches that feed the engines. 'You can't bump them and they move,' he said. Flipping to cutoff almost immediately cuts the engines. It is most often used to turn engines off once a plane has arrived at its airport gate and in certain emergency situations, such as an engine fire. The report does not indicate there was any emergency requiring an engine cutoff. 'At this stage of investigation, there are no recommended actions to Boeing 787-8 and/or GE GEnx-1B engine operators and manufacturers' India's Aircraft Accident Investigation Bureau said. Air India, Boeing and GE Aviation did not respond immediately to requests for comment. The agency, an office under India's civil aviation ministry, is leading the probe into the world's deadliest aviation accident in a decade. (Reporting by Hritam Mukherjee and Gursimran Kaur in Bengaluru, Abhijith Ganapavaram in New Delhi; Additional reporting by Allison Lampert in Montreal, David Shepardson in Washington and Rajesh Kumar Singh in Chicago; Writing by Dan Catchpole; Editing by Jamie Freed) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. Also read: After a week's search, family working in hostel mess cremates mother & 2-yr-old killed in Air India crash
The Star
11-07-2025
- The Star
India finds engine switch movement in fatal Air India crash, no immediate action for Boeing or GE
(Reuters) -A preliminary report by Indian aviation accident investigators said on Saturday the fatal Air India crash that killed 260 people in Ahmedabad last month showed the plane engines fuel cutoff switches shifting from cutoff to run within seconds of each other. "At this stage of investigation, there are no recommended actions to Boeing 787-8 and/or GE GEnx-1B engine operators and manufacturers" India's Aircraft Accident Investigation Bureau said. The agency, an office under India's civil aviation ministry, is leading the probe into the world's deadliest aviation accident in a decade. (Reporting by Hritam Mukherjee and Gursimran Kaur in Bengaluru, Abhijith Ganapavaram in New Delhi; Additional reporting by Allison Lampert in Montreal & David Shepardson in Washington)
