Skip to content
Search

Latest Stories

Vedanta Group spends £32.4 million on social projects in 2020-21

MINING giant Vedanta Group spent Rs 3.31 billion (£32.4 million) on social initiatives in the fiscal year 2020-21, the company said in a statement on Wednesday (21).

In the previous year, the company had spent Rs 2.96bn (£28.9m) on its Corporate Social Responsibility (CSR) initiatives, which includes projects related to education, health, sustainable livelihoods, women empowerment, sports and culture, environment and community development.


"Vedanta Group...is focused on its commitment towards communities as it spent Rs 3.31bn (£32.4m) on social impact initiatives in FY2021," it said.

The conglomerate’s spend is 28 per cent more than the stipulated requirement.

Vedanta is committed to conducting its business in a socially responsible, ethical and environment-friendly manner and continuously works towards improving quality of life of the communities in and around its operational areas, the company statement said.

"We have been in the forefront of supporting the government in the fight against Covid-19,” it said.

During the pandemic Vedanta established field hospitals, helping district hospitals across states.

"Our effort on the mega vaccination drive for employees, families and business partners has ensured a safety net for the communities," Vedanta Chairman Anil Agarwal said.

More For You

Deliveroo posts first annual profit after 12 years

A Deliveroo rider near Victoria station in London, England. (Photo by Dan Kitwood/Getty Images)

Deliveroo posts first annual profit after 12 years

FOOD DELIVERY app Deliveroo announced on Thursday (13) its first annual profit as orders and revenue rose, while the 12-year old company sees further growth despite exiting Hong Kong.

The milestone follows sizeable full-year losses owing to high investment costs since American Will Shu founded the company in 2013 and made Deliveroo's first delivery in London.

Keep ReadingShow less
JLR-Tata-Getty

JLR had initially planned to manufacture more than 70,000 electric vehicles at the facility. (Photo: Getty Images)

JLR halts plan to build EVs at Tata’s India plant: Report

JAGUAR LAND ROVER (JLR) has put on hold plans to manufacture electric vehicles at Tata Motors’ upcoming £775 million factory in southern India, according to a news report.

The decision was influenced by challenges in balancing price and quality for locally sourced EV components, three of the sources said. They added that slowing demand for electric vehicles was also a factor.

Keep ReadingShow less
Government to abolish payments regulator to boost growth

Keir Starmer (R) and Rachel Reeves host an investment roundtable discussion with members of the BlackRock executive board at 10 Downing Street on November 21, 2024 in London, England. (Photo by Frank Augstein - WPA Pool/Getty Images)

Government to abolish payments regulator to boost growth

PAYMENTS REGULATOR will be abolished and its remit absorbed by another financial regulator, the government said on Tuesday (11), as it aims to cut red tape in favour of growth.

The Payment Systems Regulator (PSR), which oversees systems including MasterCard and bank transfers, tackles problems such as fraud, excessive fees and lack of competition among banks and payment providers.

Keep ReadingShow less
Boohoo

Boohoo’s shares, which have fallen by about 20 per cent this year, dropped 4 per cent on Tuesday. (Photo: Getty Images)

Boohoo rebrands as Debenhams after 21 per cent sales drop

BOOHOO has rebranded itself as Debenhams Group after sales from its young fashion brands, including Boohoo, MAN, and PrettyLittleThing, declined by 21 per cent to £947 million.

The move comes amid strong competition from Shein and a shift towards second-hand clothing among younger shoppers, The Guardian reported.

Keep ReadingShow less