Tag Archives: Million

Used-car dealer accused of gouging in $45 million of masks

A used-car dealer accused of trying to get New York City to pay a 400% markup on millions of respirator masks he didn’t actually have has become the latest target of a federal crackdown on pandemic profiteering. Ronald Romano, 58, of Manalapan, New Jersey, tried to charge city officials more than $45 million for the masks, falsely claiming he was ... Read More »

Future Retail to raise up to $500 million through dollar bonds

Mumbai: Kishore Biyani’s Future Retail Ltd on Saturday said that its board has approved a fundraising plan to raise up to $500 million through dollar denominated bonds, the company said in a filing with stock exchanges. “Further to the decision taken in the Board meeting held on 12th October, 2019, the Board has reconsidered the various funding options for the acquisition of the ... Read More »

UAE’s Masdar invests $150 million in Hero Future Energies

New Delhi: In what will rank among the largest deals in the India’s clean energy space, United Arab Emirates’ Masdar (Abu Dhabi Future Energy Company) has acquired around 20% stake in Munjal family-promoted Hero Future Energies Pvt. Ltd for $150 million. Masdar is owned by Abu Dhabi government’s sovereign wealth fund Mubadala Investment Company. Sovereign wealth funds are preferred for their ... Read More »

Future Fashions $250 million deal with Blackstone

MUMBAI | NEW DELHI: Blackstone, the world’s largest private equity firm, has stitched up a $250 million investment in Kishore Biyani’s Future Lifestyle FashionsNSE 1.18 % (FLFL), owner of retail chains Central & Brand Factory as well as several clothing brands, said people aware of the transaction. The primary infusion of capital will be through a combination of equity and structured debt that will fund ... Read More »

Used-cars market shines bright as sales hit 4 million mark in FY19

As automakers continue to report plummeting April sales numbers, the factors triggering a slowdown in the new-cars market don’t seem to be weighing on the used-cars market. Used-cars sales crossed the 4 million unit mark in FY19, with it being 1.2x the size of the new car market. It is also poised to reach between 6.7 to 7.2 million cars ... Read More »

E-vehicles industry to create 10 million jobs in future: report

India has chalked a plan to aid its electric mobility mission by creating a specialised workforce. The blueprint aims at generating 10 million jobs. The Ministry of Skill Development and Entrepreneurship is in the process of preparing the programme to provide adequate manpower to the electric mobility industry. The strategy includes creating a skilled and trained workforce which has an ... Read More »

GM Investing $100 Million in Michigan Plants to Build Autonomous Vehicles

GM Investing $100 Million in Michigan Plants to Build Autonomous Vehicles General Motors Co. will invest more than $100 million in two Michigan assembly plants where it plans to build its Cruise AV driverless car and the roof modules required for autonomous driving. The roof mounted modules contain the vital hardware for self-driving cars, including cameras, LiDAR, and other sensors. ... Read More »

Xiaomi Says Over 3 Million Redmi 3S Units Were Sold in India in Less Than 6 Months

Xiaomi has been a growing brand in India in last two years and now the company has announced that it managed to sell over 3 million units of Redmi 3S smartphones (including Redmi 3S, Redmi 3S Prime, and Redmi 3S Plus models) in less than six months after the phones’ launch in August last year. The Xiaomi Redmi 3S and ... Read More »

Xiaomi Redmi Note 4 India Sales Target Said to Be 7 Million Units

The Xiaomi Redmi Note 4 smartphone, the budget stalwart continues to gain in popularity, with the top variant going out of stock within minutes of the sale starting. So reports that Xiaomi has doubled the India sales target for the smartphone compared to the Redmi Note 3, the predecessor of the new model. The Chinese company has set the Redmi ... Read More »

270 Million Mobile Phones Expected to Be Shipped in India This Year: CMR

The Indian market is estimated to ship 270 million mobile phones in 2017, of which 130 million (48 percent) will be smartphones, Gurgaon-based market research firm CyberMedia Research (CMR) said on Wednesday. Samsung continues to remain the leader and its immediate next ‘floating’ competitor is still half the size in market share by volume. “However, as we see most of ... Read More »