Representative Image Mumbai: Readymade garment manufacturer and exporter Gokaldas Exports Ltd (GEL) on Tuesday said it has entered into an agreement through its wholly-owned subsidiaries to acquire Atraco Group for USD 55 million. Headquartered in Dubai, apparel manufacturer Atraco operates with a network of four manufacturing units in Kenya and one in Ethiopia producing about…
Representative Image New Delhi: Aditya Birla Fashion and Retail plans to raise Rs 750 crore on or after September 4 through debt bonds, the company said on Thursday. The company will raise funds on a private placement basis, Aditya Birla Fashion and Retail (ABFRL) said in a regulatory filing. “The Company proposes to raise funds…
The government on Thursday extended by two months till October 31, the date of inviting fresh applications under the performance-linked incentive (PLI) scheme of textiles for manmade fiber apparel, fabrics, and products of technical textiles. The textile ministry had in July reopened the PLI scheme portal till August 31 “in view of the requests from…
MUMBAI: In an indication of the weight newly inducted deputy CM Ajit Pawar holds in the cabinet, the government this week dropped BJP minister Radha Krishna Vikhe-Patil from the all-important cabinet committee on infrastructure while adding Ajit Pawar and Dilip Walse-Patil of NCP to it.The committee, headed by CM Eknath Shinde, approves all major infrastructure…
NEW DELHI: As the Indian cricket team prepares for their opening match against Pakistan in the Asia Cup on September 2, one of the pivotal questions remains over the batting slot for left-handed wicketkeeper-batter Ishan Kishan. With KL Rahul unavailable for the first two games of the tournament, Kishan is set to step into the…
Johannesburg: South African retailer Woolworths said on Wednesday it planned to spend 10 billion rand ($538 million) in capital expenditure over the next three years as it seeks to strengthen margins. The capex will be aimed at capacity enhancement and improved customer experience, the food and fashion retailer’s Head of Finance Zaid Manjra told analysts….
More than a dozen luxury consumer goods brands are entering the country ahead of the festive season, as they look to attract consumers in a market riding on the growing affluence of Indians with higher incomes, spurring greater discretionary spending even in small towns. The trend is being driven by increased exposure to global trends,…
NEW DELHI: The Directorate General of Civil Aviation (DGCA) is doing a “deep dive” on the twin in-flight shutdowns experienced by Pratt & Whitney (PW) engines on two IndiGo Airbus A321 aircraft while operating domestic flights on Tuesday. Now these two aircraft are also grounded, joining the about 40 IndiGo already cooling their heals for…
New Delhi: Revenue of the home textile industry is set to rise 7-9 per cent this fiscal after a 15 per cent fall last fiscal, as India regains global share following a correction in domestic cotton prices and restocking by big-box retailers in major markets abroad, according to a Crisil report. The operating profitability will…
Representative image India has asked the United States to release $26 million belonging to at least two Indian diamond firms frozen due to their alleged trade links with sanctioned Russian diamond major Alrosa, three Indian sources told Reuters. The Office of Foreign Assets Control (OFAC), the U.S. Treasury unit that oversees sanctions, froze the funds…
