China’s central bank adds more gold for a ninth straight month. - Bloomberg

Bullion held by the People’s Bank of China rose by 740,000 troy ounces, the central bank said on Monday. That’s equivalent to about 23 tons. Total stockpiles now sit at 2,137 tons, with around 188 tons added in a run of purchases that began in November.

#Economy #DeDollarisation
https://www.mining.com/web/chinas-central-bank-adds-more-gold-for-a-ninth-straight-month/

Tata Power on Tuesday announced a Rs 13,000 crore investment for setting up two pumped hydro storage projects (PSPs) in Maharashtra.

The two projects will have a combined capacity of 2,800 MW.

#Infra #Energy
https://t.co/LiXBIZkliN

#Meme of the day 🤑

🇸🇦🇵🇸 - WSJ says Saudi leader Muhammad Bin Salman has obtained from the United States the creation of a Palestinian state in exchange from a distancing from China and a normalization with Israel.

#Geopolitics

Construction of Exide Industries’ greenfield lithium-ion cell manufacturing project in Bengaluru is going on in full swing and commercial production of the first phase is expected by the end of next financial year (FY25).

The plant, with a capacity of 12 gigawatt hours (GWh), would be set up in phases.

The first phase of 6 GWh would entail an investment of about Rs 4,000 crore. The total project cost of Rs 6,000 crore would be met through internal accruals as well as bridge loans.

#MakeinIndia #Batteries #Energy
https://t.co/sQf7HtGSmS

🌳 India succeeds in reducing emissions rate by 33% over 14 years - UN sources

🇮🇳 UN Official said a substantial increase in forest cover and schemes promoting non-fossil generation and targeting emissions in industrial, automotive and energy sectors has led to the sharp reduction in India's emissions intensity.

#India #Energy

https://www.reuters.com/world/india/india-succeeds-reducing-emissions-rate-by-33-over-14-years-sources-2023-08-09/

Cap ex by 54 large central PSE and five departmental arms, having annual capex targets of Rs 100 crore and above, have collectively spent around 35% of their annual capex target of Rs 7.33 trillion in the first 4 months of this financial year #Economy #Infra

https://t.co/tmb0raoZ0p

🇮🇳 India to develop her own browser.

⚡Ministry of Electronics & Information Technology (MeitY) launched the Indian Web Browser Development Challenge (IWBDC) on 9th August 2023 in Launch Programme organized at India Habitat Centre, New Delhi.

#India #Atmanirbhar

Source 🔗

Here to register: link

🇮🇳 India’s case for a protectionist move like the one announced last week—restricting computer & laptop imports—comes from the fact that it currently has almost no competitive advantage in the international trade of computers.

🇨🇳China and 🇻🇳Vietnam both have much greater comparative advantage.

#Manufacturing #India

The Reserve Bank of India keeps the repo rate unchanged at 6.5%, maintaining the status quo for the third time in a row.

#Economy

⚡ Ericsson and Telecom Sector Skill Council (TSSC) on Wednesday launched a Center of Excellence (CoE) at Delhi Skill & Entrepreneurship University (DSEU).

🏫 The CoE will train 300 students this year on 5G and emerging technologies and help them with job placements.

#India #Education #Economy

https://www.thehindu.com/sci-tech/technology/ericsson-and-tssc-to-skill-students-on-5g-emerging-tech-with-a-new-coe/article67179217.ece

#Trade #FTA #Economy

Fossil of 167-million-years-old plant-eating dicraeosaurid dinosaur found in Jaisalmer.

This remarkable discovery was made by a team of scientists from IIT-Roorkee and the Geological Survey of India (GSI). This prehistoric finding is an exciting one for three main reasons:

•The discovery of the oldest known dicraeosaurid (long-necked plant-eating dinosaur).
•The oldest diplodocoid (broader group of similar dinosaurs) in the world
•First discovery of dicraeosaurid dinosaur in India.

Read More

India’s biggest lender, State Bank Of India, has replaced Reliance Industries as the most profitable company in the first quarter of the current financial year.

#Economy #India

Indigenous production of electronic goods in the country more than doubled to Rs 8.25 lakh crore in 2022-23 from Rs 3.88 lakh crore in 2017-18

#MakeinIndia
https://t.co/v7RnQo6bgJ

Godrej Consumer Products Limited (GCPL) announced that it has signed an MoU with the government of Tamil Nadu to build a manufacturing facility near Chennai, making an investment of Rs 515 crore over the course of the next five years.

#MakeinIndia
https://t.co/arQBYM2o9o

Accelerating Indian #Railways' Net Zero Target: Hindalco, Texmaco Forge Alliance To Make Aluminium Rail Wagons And Coaches

https://ift.tt/qxfbdX1