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Business Standard

Climate change imminent, focus on areas like Green Hydrogen needed: PM Modi

Prime Minister Narendra Modi on Wednesday stressed on the need to focus on new areas of energy transition like Green Hydrogen to deal with climate change saying it is not a matter of future rather it calls for an action now. Addressing through a video message the 2nd International Conference on Green Hydrogen India 2024, Modi said, "There is a growing realisation that climate change is not just a matter of the future. The impact of climate change is being felt here and now. The time for action is also here and now." He was of the view that energy transition and sustainability have become central to global policy discourse. He noted that Green Hydrogen is emerging as a promising addition to the world's energy landscape and it can help in decarbonizing industries that are difficult to electrify. Refineries, fertilizers, steel, heavy-duty transportation -- many such sectors will benefit, he pointed out. Green Hydrogen can also act as a storage solution for surplus renewable energy, h

The Economic Times

PM Modi urges Indian automotive industry to embrace best practices for sustainable growth

Prime Minister Narendra Modi urged the automotive industry to adopt global best practices and focus on green and clean mobility. Addressing the Society of Indian Automobile Manufacturers' annual convention, he emphasized the sector's role in driving economic growth and highlighted India's investment in future-ready infrastructure to ensure shared benefits of growth.

Business Standard

PVR INOX to close 70 non-performing screens in FY25 in Mumbai, Vadodara

Leading multiplex operator PVR INOX plans to close 70 non-performing screens in FY25 and will go for potential monetisation of non-core real estate assets in prime locations such as Mumbai, Pune, and Vadodara, according to its latest annual report. Though the company will add 120 new screens in FY25, it will also close almost 6070 non-performing screens, as it chases for profitable growth. About 40 per cent of new screens addition will come from South India, where it will have a "strategic focus" on this lesser penetrated region as per its medium to long-term strategy. Moreover, PVR INOX is redefining its growth strategy by transitioning towards a capital-light growth model to reduce its capex on new screens addition by 25 to 30 per cent in the current fiscal. Now, PVR INOX will partner with developers to jointly invest in new screen capex by shifting towards a franchise-owned and company-operated (FOCO) model. It is also evaluating monetisation of owned real estate assets, as the

Mint

Foxconn chief to meet Karnataka CM Siddaramaiah on August 16, India manufacturing unit in focus: Report

Foxconn Chairman and Chief Executive Officer Young Liu will visit Karnataka on August 16, according to media reports. Liu met Prime Minister Narendra Modi in Delhi on Wednesday.

The Economic Times

Stock market update: Stocks that hit 52-week highs on NSE

IFB Agro, Skipper Ltd(PP), Bhagyanagar Ind, Country Club and Prime Focus, hit their fresh 52-week highs at 10:39AM.

Business Line

DNEG Group raises $200 million from United Al Saqer Group

The company will enable Prime Focus to ramp up investments in content production, support continued leadership in the VFX industry and diversification

The Economic Times

DNEG Group raises $200 million from UAE's United Al Saqer Group

The DNEG Group, a leader in visual entertainment tech, has secured a $200 million investment from UAE's United Al Saqer Group (UASG), valuing it at over $2 billion. This boosts DNEG's move towards AI-driven content creation with Brahma, set to democratize CGI. Prime Focus Studios will expand, co-producing major films. A new Abu Dhabi hub aims to boost media jobs. CEO Namit Malhotra plans to leverage this partnership to enhance global services and tech, transforming storytelling capabilities with innovative AI tools.