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Tata Motors reaches milestone of producing 4 mn passenger vehicles

wayne 1 day ago


Automobile major Tata Motors has achieved the production milestone of 4 million passenger vehicles in India since its inception.


“Over the years, Tata Motors has produced legendary vehicles like the Indica, Sierra, Sumo, Safari and the Nano that have played a pivotal role in the shaping the country in its post-economic liberalisation era,” the company said in a statement on Saturday.



“These iconic vehicles have broken barriers across categories in the Indian automobile sector. With the launch of the Tata Safari, the company pioneered the concept of a ‘lifestyle SUV’ to the industry, thereby creating the most aspirational four-wheeler for its customers.”


The company had also introduced the first ever MPV in Tata Sumo.


In the more recent past, Tata Motors launched the entry level car and the compact SUV segment with the rollout of the Tiago and the Nexon, respectively.


“Tata Motors is also India’s largest EV manufacturer with 67 per cent market share and leading the way on electric vehicle adoption in India,” the statement said.


“The company had achieved the 1 million production mark for passenger vehicles in 2005-06, 3

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Macron Comments Provoke Mideast Ire, Boycotts Of French Goods

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Calls to boycott French goods are growing in the Arab world and beyond, after President Emmanuel Macron criticised Islamists and vowed not to “give up cartoons” depicting the Prophet Mohammed.

Macron’s comments, on Wednesday, came in response to the beheading of a teacher, Samuel Paty, outside his school in a suburb outside Paris earlier this month, after he had shown cartoons of the Prophet Mohammed during a class he was leading on free speech.

The teacher became the target of an online hate campaign over his choice of lesson material — the same images that unleashed a bloody assault by Islamist gunmen on the offices of satirical magazine Charlie Hebdo, the original publisher, in January 2015.

Caricatures of Mohammed are forbidden by Islam.

On Saturday, Jordan’s foreign ministry said it condemned the “continued publication of caricatures of the Prophet Mohammed under the pretext of freedom of expression” and any “discriminatory and misleading attempts that seek to link Islam with terrorism.”

It did not directly criticise Macron, although the French president had on Wednesday also contended that Paty was “killed because Islamists want our future”.

But Jordan’s opposition Islamic Action Front party called on the French president to apologise for his

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RBI board holds review meeting to take stock of economic situation

wayne 2 days ago


Amid the uncertainties created by the coronavirus pandemic, the Reserve Bank’s (RBI’s) central board on Friday held a meeting to discuss, among other things, the economic situation and other challenges.


The meeting, which was held through video conferencing, also deliberated on the issues concerning financial stability in the present context.


“The board reviewed the current economic situation, continued global and domestic challenges and various areas of operations of the Reserve Bank. The board also discussed the working of sub-committees of the central board and the local boards and deliberated on the aspects related to financial stability in the present milieu,” the RBI said in a release.




Apart from RBI Governor Shaktikanta Das and other central bank functionaries, the meeting was attended by N Chandrasekaran, Ashok Gulati, Manish Sabharwal, Prasanna Kumar Mohanty, Dilip S Shanghvi, Satish K Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi.


The finance ministry was represented by Tarun Bajaj, Secretary, Department of Economic Affairs and Debasish Panda, Secretary, Department of Financial Services.


It was the 585th meeting of the RBI Central Board.

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Airtel Africa’s profit falls 9% to $88 million on higher finance cost

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Bharti Airtel’s Africa unit on Friday reported a 9 per cent fall in its profit after tax (PAT) to $88 million for the quarter ended September on account of higher finance cost. The company posted a PAT of $96 million in the year-ago period.


However, the company’s revenue grew by 14 per cent at $965 million, against $844 million in the corresponding period last year, driven by increased data usage and mobile money. The revenue growth in data was 33.4 per cent and that in mobile money was 30.4 per cent, during the quarter. The two contribute 40 per cent to the company’s overall revenue.



In constant currency terms, Airtel Africa recorded a growth of 19.5 per cent to $472 million in operating profit on a constant currency basis, the company said in a statement.

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Pentagon Condemns Turkey S-400 Test, Erdogan Dismisses US Criticism

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The United States strongly condemned NATO ally Turkey on Friday after Turkish President Recep Tayyip Erdogan confirmed the first test of a Russian-made S-400 air defense system and dismissed US criticism.

“The US Department of Defense condemns in the strongest possible terms Turkey’s October 16 test of the S-400 air defense system — a test confirmed today by Turkish President Recep Erdogan,” Pentagon spokesman Jonathan Hoffman said in a statement.

“We object to Turkey’s testing of this system, which risks serious consequences for our security relationship,” Hoffman said.

“We have been clear and unwavering in our position: an operational S-400 system is not consistent with Turkey’s commitments as a US and NATO ally.”

“Turkey has already been suspended from the F-35 program and the S-400 continues to be a significant barrier to progress elsewhere in the bilateral relationship,” Hoffman said.

The Pentagon reaction came several hours after Erdogan confirmed that tests of the S-400, which was delivered to Turkey by Russia last year, had been carried out by the Turkish armed forces.

“It is true about the tests, they have been done and will continue,” Erdogan told reporters in Istanbul. “We’re not going to ask America for permission.”

Erdogan stressed

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