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Hyundai Motor Company invests in Singapore's ride-hailing firm Grab
Posted on 11th January 2018
Hyundai Motor Co said on Thursday it had invested in Singapore-based ride-hailing firm Grab, in the South Korean automaker's first foray into the rapidly growing sector as it tries to diversify following a sales slump in China.

Grab has expanded to eight Southeast Asian countries and has said it is the biggest operator in the region's third-party taxi hailing and private-vehicle hailing sector.

The companies will jointly develop services in Southeast Asia, including one utilising Hyundai's eco-friendly models such as the IONIQ Electric, the two firms said in a statement.

They did not disclose the value of Hyundai's investment and a spokeswoman for the automaker declined to comment further.

Grab's latest fundraising round, which Hyundai has joined, already includes investors such as China's Didi Chuxing, Japan's SoftBank and Toyota Tsusho, the firms added.

Hyundai said on Wednesday it is considering building a car plant in Southeast Asia, possibly in Indonesia or Vietnam.

The company's interest in the region has grown since a diplomatic row between Beijing and Seoul last year hurt South Korean firms that are highly reliant on the Chinese market.

The automaker also announced for the first time a self-driving technology partnership with Silicon Valley start-up Aurora earlier this month, a shift from its usual preference for developing technology itself.

Related Companies: Hyundai Motor India Ltd.   

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Hindustan Petroleum Corp enters into a long-term agreement with HMEL
Posted on 22nd September 2018
Hindustan Petroleum Corporation (HPCL) on Friday entered into a long-term agreement with HMEL (HPCL-Mittal Energy) for operations and maintenance of its newly-commissioned bitumen terminal at Bathinda.

HMEL recently set up a bitumen blowing unit with a capacity of 550 million tonne per annum different grades of bitumen plant at Guru Gobind Singh Refinery, Bathinda. The agreement is for storing, handling and dispatching the product.


Amazon India to soon sell cow urine and dung based soaps, face packs made by RSS-backed centre
Posted on 22nd September 2018
Soaps, face packs, shampoos and medicinal products made from cow urine and dung may soon be just a click away as an RSS-backed centre says it is set to sell these on e-commerce major Amazon India.

Deen Dayal Dham, a centre run by the RSS in Farah town of Mathura in Uttar Pradesh, will first put up a dozen products related to health, beauty and apparel on the website for sale, a manger at the centre said.


Sensex witnesses flash crash
Posted on 22nd September 2018
Mumbai: The shares of housing finance companies (HFC) and other financial service firms were battered badly on Friday causing a flash crash on the domestic bourses as rumours about default by certain entities amidst rising delinquencies and cost of capital triggered panic selling in the market.

Infosys to offer cloud solutions to global enterprises on Google Clouds
Posted on 22nd September 2018
Software major Infosys would offer scalable services and solutions on demand to global enterprises on search engine's Google cloud platform, the IT major said on Saturday.

"We are partnering with Google to develop cloud transformation and migration services for enabling enterprises transform their businesses on scalable and on-demand model," said the city-based company in a statement.


RIL closes KG-D6 oilfield
Posted on 22nd September 2018
Reliance Industries has permanently shut down its only oilfield (MA field) in the KG-D6 block on the back of dwindling output from the reserve. This was the company’s first foray into oil and gas exploration that began in September 2008 when the field started producing oil.

“The MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by RIL as an operator of the joint venture consisting of RIL (60 per cent), BP (30 per cent) and Niko (10 per cent)


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