Thursday, October 15
Mukesh Ambani's Reliance Industries will start its solar photovoltaic modules factory this year, a company executive said on Thursday."We are today building three bigger factories... in order to produce clean energy requirements," said Partha P Maitra, President, Strategy and Initiatives at Reliance Industries.India has been scrambling to meet its clean energy targets after falling short in 2022.Over the past year, the country has ramped up investments in the sector, but needs to double capacity additions over the next five years to meet its target of 500 GW non-fossil power capacity by 2030, a Global Energy Monitor report showed.Reliance aims to eventually scale up solar module capacity to 20 GW per year, Maitra said.Its battery and micro power electronics factory will start next year, he
Deutsche Bank CEO Christian Sewing called 2025 a "year of reckoning" in remarks he planned to deliver on Thursday to shareholders demanding details on the path forward for Germany's largest lender. The bank's management and shareholders were facing off at Deutsche's annual general meeting with the lender in the final stretch of a three-year plan, attempting to meet a series of targets that some analysts deem overly ambitious. "We know how important 2025 is for us as a bank. It is the year of reckoning," Sewing planned to tell shareholders, according to a copy of his remarks released ahead of the speech. Among the targets, Deutsche Bank is aiming for a cost-to-income ratio of less than 65% and a so-called return on tangible equity - a key measure of profitability - of more than 10%. Analyst
