Business Industry

Celebi Shares Plunge After India Revokes Security Clearance

By BPN News Desk May 17, 2025

Turkey-based ground handling company Celebi Hava Servisi saw its stock price crash nearly 20% over two trading days after India revoked its security clearance. The decision, triggered by national security concerns, has put the company’s India operations—previously a key source of revenue—in jeopardy and sparked legal proceedings in Indian courts. India Revokes Celebi’s

Business Industry

Celebi Shares Crash 10% After India Revokes Clearance

By BPN News Desk May 16, 2025

Shares of Turkish aviation services provider Çelebi Hava Servisi AS dropped sharply by 10% on the Istanbul Stock Exchange on May 16, 2025, following the Indian government’s decision to revoke the security clearance of its Indian subsidiary. The move sent shockwaves through Turkish financial markets, with investor sentiment taking a major hit amid fears of […]

Business Industry

India Approves ₹3,706 Cr Semiconductor Plant in Jewar

By BPN News Desk May 15, 2025

In a major step toward strengthening India’s semiconductor ecosystem, the Union Cabinet has approved the establishment of the country’s sixth semiconductor manufacturing unit. The ₹3,706 crore facility will be developed in Jewar, Uttar Pradesh, through a joint venture between HCL and Taiwanese electronics giant Foxconn. HCL-Foxconn Semiconductor Plant in Jewar The plant

Business Industry

RBI Reviews E-Wallets After BluSmart’s Collapse

By BPN News Desk May 15, 2025

The Reserve Bank of India (RBI) has launched a detailed review of digital wallets tied to app-based services, following the sudden collapse of BluSmart, an all-electric taxi service. The move comes in response to mounting complaints from users who were left unable to recover funds stored in BluSmart’s internal wallet system. BluSmart’s Sudden Shutdown BluSmart […]

Business

Reliance Secures $2.9B Dual-Currency Loan in 2025

By BPN News Desk May 15, 2025

Reliance Industries Ltd. (RIL), headed by Mukesh Ambani, has secured a landmark $2.9 billion dual-currency offshore loan, making it the largest such transaction by an Indian firm in over a year and the most significant syndicated loan deal in Asia so far in 2025. Reliance Offshore Loan Finalized on May 9, the loan features two […]

Business Trade

India’s Russian Oil Imports Hit 9-Month High in April

By BPN News Desk May 5, 2025

India’s crude oil imports from Russia climbed to a nine-month high in April 2025, hitting 1.92 million barrels per day (bpd). This marks a 2.1% increase from March levels and pushed Russia’s share of India’s total crude imports to 39.3%, up from 35.7% the previous month. The latest data reflects a continued strategic reliance on […]

Business Industry

Supreme Court Nullifies JSW Steel’s Acquisition of Bhushan Power & Steel

By BPN News Desk May 5, 2025

In a dramatic ruling that has sent shockwaves through India’s corporate and legal landscape, the Supreme Court has nullified JSW Steel’s ₹19,700 crore acquisition of Bhushan Power & Steel Ltd (BPSL). The deal, approved under the Insolvency and Bankruptcy Code (IBC) in 2019, was struck down on the grounds of serious procedural violations, marking a […]

Business Finance

India’s GST Collections Hit Record ₹2.37 Lakh Crore in April

By BPN News Desk May 2, 2025

India’s Goods and Services Tax (GST) revenue hit a historic peak in April 2025, with collections soaring to ₹2.37 lakh crore. This marks a 12.6% year-on-year growth from April 2024 and represents the highest monthly GST collection since the system was launched in 2017. The surge was led by strong domestic consumption and robust imports, […]

Business Industry

Tata, Foxconn Said to Begin iPhone Production in India

By BPN News Desk May 1, 2025

India’s electronics manufacturing sector may be entering a new phase, as sources indicate that iPhone production has reportedly begun at Tata Electronics’ facility in Hosur, Tamil Nadu. The development is believed to be part of Apple’s ongoing strategy to diversify its manufacturing base away from China and strengthen its footprint in India. According to those […]

Business Industry

Apple to Shift U.S. iPhone Production to India by 2026

By BPN News Desk April 27, 2025

In a major strategic shift, Apple Inc. is preparing to relocate the assembly of all iPhones destined for the U.S. market from China to India by the end of 2026. This move is aimed at reducing supply chain risks, diversifying manufacturing operations, and countering rising trade tensions between the United States and China. iPhone Production […]