The Union Cabinet and the Council of Ministers are expected to meet on Thursday, a day after Prime Minister Narendra Modi rejigged his team. Shapoorji Pallonji (SP) Group said it does not need Tata Group’s permission to pledge a part of its 18.5-per cent stake in Tata Sons, These are the top headlines at this hour.
Modi Cabinet 2.0 is all about politics and governance Prime Minister Narendra Modi on Wednesday sacked many senior colleagues, elevated some, and infused the government with new faces to make the most comprehensive reshuffle of his council of ministers in the government’s seven-year tenure. Jyotiraditya Scindia will be in charge of the civil aviation ministry and Manusukh Mandavia will lead the health ministry. Read
Exclusive content, features, opinions and comment - hand-picked by our editors, just for you.
Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
Track the industry of your choice with a daily newsletter specific to that industry.
Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
SP Group trials technology to push energy from battery of electric vehicle back to power grid Toggle share menu
Advertisement
Advertisement Singapore
The vehicle-to-grid-capable Nissan LEAF (left) and bidirectional charger (right). (Photos: SP Group)
08 Jul 2021 12:00PM) Share this content
Bookmark
SINGAPORE: SP Group has started a trial to test and verify the possibility of transferring energy from the batteries of electric vehicles (EV) back to the power grid.
Vehicle-to-grid technology can be a win-win for both the electricity system and electric vehicle owners if proven viable, said SP Group on Thursday (Jul 8), adding that it would help to overcome intermittency from solar power while allowing vehicle owners to be paid for the use of their batteries when needed.
Skills challenge Skills challenge
As megatrends affect the world of work, reshaping skills of workers will help to address mismatches and promote resilience.
published : 5 Jul 2021 at 04:30
Human capital development has played a vital role in the success of thriving economies. However, when the skills of workers fail to align with the needs of industry, the mismatches and imbalances in the labour market can keep an economy from reaching its potential.
Findings from the latest World Bank Enterprise Surveys indicated that between 10% and 15% of employers in the Philippines, Indonesia, Laos and Malaysia, and 18% in Cambodia report having difficulties finding workers with the right skills for their operations. Less than 5% of companies in Thailand say they experience this drawback.
Shapoorji Pallonji Group could pledge its entire Tata Sons stake to service debt
The SP Group is parallely trying to monetise its assets such as Eureka Forbes, Sterling and Wilson Solar, and Afcons Infrastructure to prepay loans worth ₹9,348 crore.
Synopsis
Lenders to SP Group will have to offer the first right of refusal to Tata Sons under Article 75 of the holding company s articles of association, if the pledge were to be invoked. Officials close to the development said the lenders have done their due diligence on the legal validity of the possible pledge of shares.
The Shapoorji Pallonji Group could pledge its entire 18.37% stake in Tata Sons, the Tata Group s holding company, to raise funds to service some of the group s debt if discussions with multiple lenders work out, officials close to the development said.