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< Back BMW outruns Tesla in European sales of EVs 23 Aug 2024 BMW sold 308 more EVs than Tesla in July for the first time. A lack of government incentives and buyers’ concerns about unpredictable resale value prompted a 6% decline in annual sales of Electric Vehicles (EVs) in Europe. As a result, sales of Tesla EVs fell by an average of over 16% in July. This favoured BMW, which sold 308 more EVs than Tesla for the first time. A strong brand reputation, a more comprehensive variety of EVs at a diverse price range, and an extensive dealer network helped BMW create a loyal following. Comparatively, Tesla always focused on the high-end market with its Model S, Model 3, and Model X. This enabled the German carmaker to attract the consumer segment looking for more affordable cars for whom Tesla was out of budget. BMW is also investing heavily in its battery and charging technology. It has partnered with various companies to expand its charging network across Europe to serve a diverse customer base. Previous Next

< Back e₹ to solve cross border transaction issues 26 Apr 2025 RBI Deputy Governor T Rabi Sankar talked about CBDC during Bharat Inclusion Summit 2.0 in Bengaluru. Central Bank Digital Currency (CBDC) is an RBI initiative launched in December 2022, built using blockchain technology. Under the pilot phase, e₹ has expanded from 4 to 16 banks, including the State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, and Kotak Mahindra Bank. In December 2024, the Indian government submitted an update to the Lok Sabha on the progress of Wholesale CBDC (e₹-W) and Retail (e₹-R). They are testing privacy and anonymity features in retail CBDC transactions. The Bahamas was the first one to launch its CBDC, called the Sand Dollar, in October 2020. By now, several countries have followed suit. The IMF introduced a CBDC Virtual Handbook, outlining best practices for policymakers worldwide. The European Central Bank is in the preparation phase for the Digital Euro, which will permit offline transactions and real-time settlements. PetroChina recently used the digital Yuan (e-CNY) to buy international crude oil. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Tata Group takes over Wistron’s iPhone assembly line in Tamil Nadu 9 Nov 2023 The deal is worth $750 million, including debt. It will make Tata Group the first Indian company to assemble iPhones in India. Tata Group took over the iPhone assembling facility in Hosur, Tamil Nadu, from Wistron for $750 million, including debt. Tata Electronics signed the deal on Wednesday. Wistron is among India's top three Apple vendors, besides Pegatron and Foxconn. Since 2018, Wistron had four iPhone assembly lines in the country and was about to open another manufacturing facility in Kolar by November-end, with production commencing in January 2024. Tata was initially focused on making iPhone cases in the Hosur facility, with around 20% locally sourced consumables. But now it will be able to scale up. Wistron’s facility was vandalized by workers in December 2020 on the grounds of poor working conditions and non-payment of dues. Apple had put Wistron on probation in December 2022 until it sorted out worker issues. This deal comes in light of Apple’s plans to shift 25% of iPhone manufacture to India from China by 2025. Previous Next

< Back US Federal Trade Commission Tapestry’s $8.5 billion acquisition of Capri 26 Apr 2024 The acquisition will unite six luxury brands, including Tapestry’s Kate Spade, Coach, and Stuart Weitzman, with Capri’s Versace, Jimmy Choo, and Michael Kors, under one entity. The Federal Trade Commission (FTC) moved to prevent Tapestry, Inc.’s $8.5 billion acquisition of Capri Holdings Limited. Tapestry wants to strengthen its foothold in the fashion industry by acquiring Capri. Kate Spade and Coach offer affordable items called accessible luxury accessories. As per the FTC, the combined entity will have no reason to be price competitive, thus forcing Americans to pay more for these items. This will dissolve the competition for affordable handbags, while wage workers may lose their benefits and favourable working conditions. The new company will compete directly with European luxury brands like Burberry and Louis Vuitton. It may record over $12 billion in annual revenue and a presence in over 75 nations. Tapestry announced the deal in August 2024 and received regulatory approval from Europe and Japan. It maintains that customers get ample options in every segment and the deal will not impact their buying power. Previous Next

< Back Singapore’s real estate major to invest ₹45,000 crore in India 4 Sept 2024 CapitalLand Investment (CLI) announced plans to increase its funds under management (FUM) in India by more than double by 2028. Singapore’s leading real estate enterprise, CapitalLand Investment, announced on August 28th its plans to more than double its investment in India by 2028. It will invest ₹45,000 crore in India in the next four years. This aligns with its goal of reaching $200 billion in FUM worldwide by 2028. Currently, CLI has around $7.4 billion (₹45,880 crores) invested in India. This is expected to cross ₹90,280 crores by 2028. The announcement came on the occasion of CLI’s 30th anniversary in India and when Prime Minister Narendra Modi is visiting Singapore to strengthen the two nations' strategic and bilateral relations. CLI began its journey in India 30 years ago with the launch of its first IT park, the International Tech Park Bangalore (ITPB), in association with Ascendas. India is one of CLI’s fastest-growing markets, and the company has witnessed its investments triple in the past seven years. Previous Next

< Back Chinese tariff war benefits Indian aviation, semiconductor sectors 23 Apr 2025 Air India plans to buy Boeing planes rejected by China due to its ongoing tariff war with the US. China asked airlines to reject American-made Boeing aircraft and equipment deliveries. It plans to assist Chinese carriers who lease Boeing aircraft and incur higher costs. Air India needs more aircraft fitting its revival plans and may take the rejected aircraft from Boeing. Malaysia Aviation Group Bhd is also vying for the rejected planes. Air India bought 47 Boeing 737 Max planes in 2019, the last time the US engaged in a tariff war with China during Donald Trump’s first term. Tesla is discussing procurement with semiconductor facilities in India, like CG Semi and Tata Electronics, and the Gujarat-based American conglomerate Micron. Tata AutoComp, Tata Technologies, and Tata Consultancy Services are Tesla’s existing global suppliers. China is a global semiconductor manufacturing and packaging leader. Tesla is trying to shift its focus to other suppliers for diversification. International laptop makers like Dixon, Syrma SGS, and Asus are setting up bases in India. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Govt evaluating $21 bn proposals to set up semiconductor chipmaking in India 8 Mar 2024 The government plans to establish a semiconductor chipmaking industrial hub in Dholera, Gujarat. The Modi government plans to make India a global chipmaking hub. It is evaluating $21 billion proposals from international and domestic companies to set up manufacturing facilities. It is offering incentives to international corporations to set up facilities and promises to bear half the cost of approved projects with an initial budget of $10 billion. American chipmaker Micron Technology set up a $2.75 billion assembly and testing facility in Gujarat. Israel’s Tower Semiconductor Limited and Tata Group have proposed a $9 billion and a $8 billion chip fabrication facility in Gujarat. If approved, Tower Semiconductor’s facility will be India's first multinational fabrication plant. The company manufactures components for large corporations like Broadcom Inc. and the electric vehicles industry. It plans to make around 80,000 silicon wafers monthly in the next decade. Tata plans to partner with Taiwanese Powerchip Semiconductor Manufacturing Corp and set up the plant in Dholera this year. Previous Next

< Back Home Ministry blocks 805 apps, 3,266 websites 12 Feb 2025 The action was taken by the Indian Cyber Crime Coordination Centre (I4C). During the Parliamentary Consultative Committee on Home Affairs on ‘Cyber Security and Cybercrime’, Home Minister Amit Shah announced the actions taken by the I4C.The I4C is the Ministry of Home Affairs initiative to combat cybercrime. I4C blocked 805 apps and 3,266 websites, caught 19 lakh mule accounts and suspended dubious transactions worth over ₹2,038 crore. It plans to deploy AI to identify mule accounts in a coordinated effort with RBI and banks. Cybercriminals use mule accounts to hide swindled money. I4C’s efforts will ensure mule accounts are closed even before becoming operational. 48% of the world’s digital transactions in 2024 happened in India. 95% of Indian villages are digitally connected, and 1 lakh gram panchayats now have Wi-Fi hotspots. In similar news, the Information and Broadcasting Ministry blocked 18 OTT platforms and associated 19 websites, 57 social media handles, and 10 apps for publishing inappropriate and obscene content. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back SEBI mandates standard brokering charges for all stockbrokers 4 Jul 2024 In its circular on July 1st, the Securities and Exchange Board of India (SEBI) directed the exchanges to scrap the slab-based pricing system for stockbrokers. Stock exchanges offer slab-based pricing and rebates to stockbrokers based on the trade volumes they generate per month. This translates as the higher the trading volume, the bigger the discount, and helps stock exchanges improve trading across segments. This is bound to stop from October 2nd 2024. The circular states that Market Infrastructure Institutions (MIIs) like stock exchanges, depositories and clearing corporations must be “True to label” in their fee structure effective October 2nd, 2024. It directed market intermediaries to stop offering stockbrokers rebates for issuing large trading volumes. It further asked stockbrokers to charge their customers only the amount they need to pass on to the exchanges and not seek rebates from exchanges. This impacts stockbrokers, traders and investing customers (retail investors). Discount brokers like Zerodha, Groww, AngelOne, and Upstox built their brand image around zero or lower brokerage fees, which will be impacted. Previous Next

< Back After resisting for long, Ola adopts fixed daily fee for drivers 25 Mar 2025 The cab hailing market leaders are making serious changes as competition stiffens in the segment. Fintech startup Juspay’s ride-hailing app, Namma Yatri, launched three-wheeler rides in November 2022 and cab-hailing services in April 2024. It introduced a fixed daily fee (called take rate) for auto drivers instead of the commission per ride like Uber and Ola. In January 2024, Rapido launched cab services with the same concept. To retain its position, Ola embraced this subscription model for three-wheeler rides in December 2024, followed by Uber in February 2025. Ola switched its cab-hailing services to this fixed daily fee model this month and introduced bike taxis on the same model. Earlier, Ola charged 20% commission, which after tax came to 15%. After running a ₹100 daily fee pilot in October in Hyderabad, it now charges ₹149 for one day and ₹399 for three, a take rate of 10%. Rapido offers drivers ₹5,000 worth of rides for a ₹50 subscription, a take rate of 5%. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back India to start locally manufacturing all mobile phones in this fiscal year 10 Oct 2024 Apple started making iPhone 16 Pro and Pro Max phones in India last week. Google began manufacturing Pixel smartphones. Until the last fiscal year FY24, India’s smartphone imports comprised 2.5% of the mobiles sold by value and less than 1% by volume, especially Pro models of high-end phones, like Pixel and iPhone. With smartphone-oriented production-linked schemes (PLI), brands found new motivation to make their devices in India. Local manufacturing is further expected to reduce the iPhone Pro's price by ₹15,000 per unit. India now produces 99% of all smartphones locally. The domestic suppliers will soon cover the remaining 1%. Foreign brands like Samsung, Vivo, Oppo, Realme, Xiaomi, and Transsion Holdings now produce all devices here. Local smartphone manufacturing has risen from ₹18,900 crore in FY15 to ₹410,000 crore in FY25, around 30% of which is for exports. In the FY25 budget, the Indian government reduced import customs duty to curb the high-end mobile grey market. This motivated Apple to reduce iPhone prices by up to 4%. Previous Next

< Back 9 of 21 terror camps destroyed in Operation Sindoor 7 May 2025 Flight operations at airports close to the India-Pakistan border were impacted. All flights to and from Srinagar have been cancelled for Wednesday. Avenging the victims of the Pahalgam attack, the Indian Army attacked 9 of 21 terror camps IN Punjab (Pakistan) and Pakistan-Occupied Kashmir. Four Jaish-e-Mohammed camps, including its Headquarters in Bahawalpur, three Lashkar-e-Taiba camps and headquarters in Muridke, and two Hizbul Mujahideen bases were wiped out by the Indian Air Force. A loitering munition, a precision-guided missile, was used in last night’s attack. It hovers over an area before identifying and striking its target. Heavy firing erupted in Kashmir along the LOC after the attack. Pakistani Defence Minister Khawaja Asif responded that they will refrain from any further action if India stops its border operations. Following the Pahalgam attack, India suspended the Indus Waters Treaty and blocked the flow of the Chenab River using the Baglihar Dam, resulting in a drop in the water level to 4-5 feet for the first time in decades. Pakistan’s benchmark KSE-100 Index nosedived 6% today. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next