Latest from Elmarada
Barnama
22 minutes ago
- Automotive
- Barnama
Tesla To Build Grid-side Energy Storage Station In Shanghai
SHANGHAI, June 21 (Bernama-Xinhua) -- US carmaker Tesla on Friday inked a deal with Chinese partners to build a grid-side energy storage station in Shanghai using its Megapack energy-storage batteries, reported Xinhua. The deal, with a total investment of 4 billion yuan (about US$556 million), marked Tesla's expansion into China's burgeoning energy storage market, paving the way for its facility to connect with the country's vast power grid, the largest in the world. The gigawatt-hour-scale energy storage station is to be located in the Lin-gang Special Area of China (Shanghai) Pilot Free Trade Zone, as per the deal signed by Tesla, the administrative committee of the Lin-gang Special Area, the people's government of Shanghai's Fengxian District, and China Kangfu International Leasing Co Ltd.
Barnama
22 minutes ago
- Business
- Barnama
Sultan Mizan Graces Mayang Mall Opening Ceremony
KUALA TERENGGANU, June 21 (Bernama) -- The Sultan of Terengganu, Sultan Mizan Zainal Abidin, today graced the opening of a new shopping mall in Terengganu, Mayang Mall. His Royal Highness Sultan Mizan was accompanied by Sultanah of Terengganu, Sultanah Nur Zahirah and their children, Yang Dipertuan Muda of Terengganu Tengku Muhammad Ismail, Tengku Sri Setia Mahkota Raja Tengku Datuk Seri Muhammad Mu'az, Tengku Puteri Utama Raja Tengku Datuk Seri Nadhirah Zahrah and Tengku Puteri Daulath Raja Tengku Datuk Seri Fatimatuz Zahra'. The royal entourage was greeted on arrival by Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and Pelaburan Hartanah Berhad (PHB) chairman Raja Tan Sri Arshad Raja Tun Uda. Raja Arshad, in his welcoming speech, said the opening of Mayang Mall, valued at RM400 million, marked another strategic milestone for PHB in reinforcing its position as a leader in sustainable and high-value commercial property development in Malaysia. Situated in the heart of Kuala Terengganu, he said the mall spans 1.64 million square feet and houses 308 retail lots, offering a diverse range of goods and services across various retail segments. 'Kuala Terengganu was selected as PHB's first investment destination on the east coast due to its strong potential in tourism, trade, and services,' he said. 'Its strategic location, well-developed infrastructure, and abundant human capital also position Kuala Terengganu as a rising economic hub for the east coast. He added that the opening of Mayang Mall not only generates job opportunities but also provides a platform for local entrepreneurs to grow their businesses, while boosting the tourism sector in the region. -- BERNAMA
Yahoo
22 minutes ago
- Climate
- Yahoo
AI camera helps firefighters quickly find, douse remote DougCo wildfire
This week, a lightning strike in a remote section of Douglas County wilderness could have led to disaster.
NDTV
22 minutes ago
- Entertainment
- NDTV
NDTV Exclusive: Renuka Shahane Recalls Auditioning For Surabhi - "It Was A Disaster"
New Delhi: Before Surabhi became a household name and Renuka Shahane a familiar face in living rooms across India, her journey to the iconic show began with what she calls a "disaster." In an interview with NDTV, the actor recalled how she ended up auditioning for the cultural magazine show after returning from the shoot of Circus, a series where she worked with Shah Rukh Khan early in both their careers. Renuka revealed that her Surabhi audition was far from perfect. In fact, she laughed through most of it. "I forgot the lines. I kept laughing at myself because I couldn't remember," she said. The script she was given was a long passage about the Brihadeshwar temple, and while she thought she had memorised it, she blanked out on camera. "It was a disaster," she admitted. At that point, Renuka was convinced she wouldn't land the role. But show creator and producer Geeta Doctor saw something in her that went beyond words. "Geeta loved my smile," she said, adding that it turned out to be the deciding factor. Her warm and cheerful presence was seen as the perfect counterpoint to co-anchor Siddharth Kak's serious and scholarly tone. That small, spontaneous moment changed everything. Renuka Shahane was cast, and Surabhi went on to become one of Doordarshan's most cherished shows of the 1990s, remembered fondly by an entire generation.
Economic Times
23 minutes ago
- Business
- Economic Times
PFC, REC well-placed under new RBI norms; Motilal Oswal reiterates buy rating
India's NBFC sector has received a significant regulatory clarity boost with the RBI's final guidelines on project finance. ADVERTISEMENT These revised norms, applicable to loans sanctioned on or after 1st October 2025, are notably milder than the earlier draft, particularly concerning provisioning requirements. The new rules adopt a principle-based approach for resolution and standardize guidelines across regulated entities, aiming to facilitate smoother implementation without disrupting existing frameworks. One of the most crucial aspects of the final guidelines is that they are not retrospective. Loans to under-construction projects that have already achieved financial closure will continue to follow the extant provisioning norms, protecting lenders from any sudden balance sheet ensures that the transition to the new regime remains orderly. For new under-construction project loans, the standard asset provisioning has been eased to 1% and 1.25% for commercial real estate (CRE) loans, significantly lower than the 5% proposed projects become operational, the provisioning requirement drops further—to 0.4% for general project finance, 0.75% for CRE-RH, and 1% for CRE. ADVERTISEMENT In addition, rationalization of delays in project timelines has been introduced, allowing up to three years for infrastructure projects and two years for non-infrastructure specific additional provisioning will be required for projects availing deferments, though this will be reversed once operations commence. ADVERTISEMENT These provisions strike a balance between prudence and flexibility, supporting long-gestation infrastructure financing without unduly burdening with exposure to project finance—particularly those operating in infrastructure, real estate, or wholesale finance—will see a manageable rise in provisioning burden from October 2025 onward. ADVERTISEMENT Lenders are expected to pass on a part of this increase to borrowers through pricing adjustments, minimizing profitability impact. Moreover, many large project financiers already carry sufficient standard asset provisions, further limiting downside the final guidelines are a constructive development for the NBFC sector. They ensure financial stability while supporting India's infrastructure build-out and align regulatory expectations with practical business challenges. ADVERTISEMENT The sector remains on stable footing, with improved visibility and a favorable risk-reward profile in project reported healthy performance in FY25, with a 5% YoY PAT growth in 4QFY25 supported by one-offs in interest loan growth guidance has been revised to 12–13% due to elevated prepayments, spreads improved ~70bp QoQ and NIMs remained steady at 3.63%.Asset quality strengthened, with GS3 at 1.35% and a target of net-zero NPAs by FY26. Under the revised RBI project finance guidelines, REC remains well cushioned with Stage 1 and 2 provisioning at 0.95%.We model FY25–27 PAT CAGR of 11%, RoA/RoE of 2.6%/20%, and a ~5.7% dividend yield by delivered strong operational performance in FY25, with 20% YoY PAT growth to INR 173.5b, driven by healthy disbursements, improved asset quality, and a INR 12b write-back from the KSK Mahanadi final RBI guidelines on project finance are favorable, with lower provisioning norms and no retrospective application. PFC is well placed under the revised framework, with Stage 1 and 2 provisioning at 1.13% as of Mar' estimate an FY25–27 PAT CAGR of 8%, RoA/RoE of 3%/18%, and a dividend yield of ~5% in FY27E. (The author is Head – Research, Wealth Management, Motilal Oswal Financial Services Ltd.) (Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of
