Green Xentro Expands Fleet to 2,500 Fully Electric Taxis Powered by Green GSM Platform in the Philippines

 
With its scale and structured implementation, the deployment is expected to serve as a model for expanding electric mobility through local partnerships across Southeast Asia.

The deployment builds on a memorandum of understanding signed in October 2025 between Xentro Group and Green GSM. Initially planned at 2,000 vehicles, the fleet has since been expanded to 2,500, reflecting growing operational confidence and long-term commitment from both parties. The Rizal rollout marks the first phase of implementation, with further expansion expected across Metro Manila and adjacent areas.

At the center of this initiative is a partner-led operating model that combines local market leadership with a standardized global platform. Green Xentro leads on-the-ground execution, overseeing operations, driver management, and local market adaptation, while Green GSM provides a fully integrated electric mobility platform encompassing full electric vehicles, technology infrastructure, and standardized service protocols.

The platform is designed to ensure operational consistency at scale, offering real-time fleet monitoring, centralized safety management, and consistent service delivery standards. Each vehicle is equipped with GPS tracking, CCTV, and dashcams, as well as emergency features such as panic buttons, all connected to a 24/7 monitoring center. The entire fleet is also covered by comprehensive insurance policies, reinforcing safety and reliability.

Passengers can expect a more reliable and predictable travel experience, with standardized service quality and fully electric, air-conditioned vehicles. Services are offered with transparent, value-driven pricing and support multiple payment options, including cash and digital platforms. Rides can be accessed via street hailing or the Green GSM mobile app.

On the supply side, the model introduces a salaried driver system to enhance income stability and professional standards in the transport sector. Drivers earn a fixed monthly salary, performance-based incentives, and full statutory benefits, along with structured training programs focused on safety, service quality, and electric vehicle operations.

Beyond mobility, this rollout is expected to boost local economic activity through job creation and ecosystem development, supported by an expanding EV charging network across commercial hubs within the Xentro system. As a fully electric fleet, the deployment also helps national efforts to cut emissions and improve urban air quality, aligning with broader policy goals for energy transition and sustainable urban growth.

Mr. Noel M. Ignacio, CEO of Green Xentro, shared: “We see this as a long-term investment in building a transport system that is more reliable, more structured, and better aligned with the needs of Filipino communities. By combining electric vehicles with a professional driver model, we are creating a service ecosystem that elevates everyday journeys while also improving the quality of livelihoods for drivers. Over time, we believe this approach can help set a new standard for public transport one that balances efficiency, sustainability, and human-centered service.”

Mr. Dao Quy Phi, Managing Director of Green GSM Southeast Asia, said: “This is not just a fleet deployment. It represents the early stage of a scalable model where strong local partners lead market execution, while Green GSM enables growth through a unified electric mobility platform. We believe this approach can unlock a more practical pathway to green mobility—one that is not only scalable, but also adaptable to the realities of emerging markets. By combining global standards with local expertise, we aim to accelerate adoption in a way that is both commercially viable and operationally sustainable over the long term.”

Green Xentro is among the first international partners to adopt the Green GSM operating model. Developed and refined in Vietnam through extensive collaboration with multiple stakeholders, the model has played a key role in shaping a highly integrated and scalable electric mobility ecosystem. Its rollout in the Philippines marks a significant milestone in the model’s global expansion, thoughtfully localized to suit market conditions while upholding consistent standards of safety, service excellence, and user experience.

XED Extends IPO Closing Date to 30 March 2026 Amid Geopolitical Developments

Mumbai, Mar 24: XED announced the extension of the closing date of its Initial Public Offering from 24 March 2026 to 30 March 2026. The IPO, which opened on 16 March 2026, is the first public offering to be listed from GIFT City, India’s International Financial Services Centre.

The extension has been sought in light of the evolving geopolitical situation in the Middle East, which has created practical challenges for non-resident Indian and foreign investors in completing KYC formalities and processing subscription applications within the originally scheduled timeline. The Company believes the extension will facilitate broader investor participation and ensure seamless regulatory compliance for all applicants.

The revised closing date of 30 March 2026 represents the tenth working day from the date of opening, in accordance with Regulation 19 of the IFSCA (Listing) Regulations, 2024, which permits an IPO to remain open for a maximum of ten working days. All other terms and conditions of the Issue remain unchanged.

All other terms and conditions of the Issue remain unchanged. The price band, issue size, and listing exchanges — NSEIX and India INX — are unaffected by this extension. Investors who have already submitted applications are not required to take any further action

The Book Running Lead Manager to the Issue is Global Horizons Capital Advisors IFSC Private Limited. Investors with queries regarding the Issue are encouraged to contact the BRLM directly or visit the Company’s investor relations page.

This press release is for informational purposes only and does not constitute an offer or solicitation to buy or sell any securities. The extension of the IPO closing date is subject to receipt of applicable regulatory approvals. Investors are advised to read the official prospectus and all offer-related documents carefully before making any investment decision. Investments in securities are subject to market risk. GIFT City IFSC regulations apply.

PUMA turns up the heat, launches RCB 2026 Palermo Leather Sneakers

From Stadium to Street: PUMA turns up the heat- launches RCB 2026 Palermo Leather Sneakers

 March 24: Ahead of the Indian Premier League, as fan anticipation hits a fever pitch, PUMA and RCB bring their worlds together with the PUMA x RCB Palermo – a limited-edition sneaker that celebrates more than just the game. Blending the sports brand’s legacy with RCB’s unmistakable energy, this is not just a drop, but a statement- a piece of fandom that fans can wear, own and carry beyond the stadium.

Arriving ahead of the most sought-after cricket season, the PUMA x RCB Palermo moves beyond merchandise into culture territory. In sport, jerseys have long been markers of identity – symbols that bring fans into a shared collective. The RCB Palermo translates that same idea into footwear. Designed for a new generation of fans who express loyalty through style as much as sport, the sneaker is an extension of fandom seamlessly moving from stadium stands to city streets, carrying the energy of RCB wherever it goes.

Rooted in PUMA’s iconic Palermo silhouette, this edition is reimagined through the lens of cricket culture. Available in two colourways: Flame Scarlet–Metallic Gold–Gum and Navy–Metallic Gold–Gum- the PUMA x RCB sneaker is crafted in premium leather with a rich suede base, offering a tactile, elevated finish while staying true to its terrace-inspired roots.

Drenched in RCB’s signature palette, the design captures the intensity of match nights, the loyalty of its sweeping fanbase, and the unmistakable swagger that defines the team.

Thoughtful detailing brings this narrative to life- an RCB tongue patch anchors the identity, a winning star in gold emboss sits subtly under the Palermo flap, while gold accent stitching over the PUMA Formstrip is layered with an RCB graffiti artwork. Bold foil and screen-printed PUMA branding lend a statement edge, while the flat sole construction and soft inner lining ensure all-day comfort. Clean lines meet colour blocking, creating a silhouette that feels both timeless and distinctly of the moment.

Steeped in terrace culture, the Palermo remains one of PUMA’s most iconic silhouettes. With its signature T-toe construction and gum sole, the sneaker traces its origins to 1980s UK terrace style, where football fandom and fashion first collided. Named after the Italian city, Palermo carries a legacy of effortless sophistication, this time reinterpreted for a new generation – blending global heritage with India’s love for cricket and distinct expression of street style.

Shop the PUMA x RCB sneaker at select PUMA stores and online at in.puma.com.

Vedanta Chairman Anil Agarwal Calls for Entrepreneur-Led Transformation to Reduce Imports and Power Atmanirbhar Bharat

Vedanta Chairman Anil Agarwal has urged the government to entrust Indian entrepreneurs with greater responsibility in the natural resources sector, highlighting their proven track record in building world-class industries such as telecom, aviation, ports, steel, cement, and power EPC.

Drawing on his assessment of 24 public sector enterprises across hydrocarbons, minerals, metals, and fertilizers, Agarwal noted that these companies possess robust human capital and untapped potential. He emphasized that with entrepreneurial leadership and investment, these PSUs can significantly enhance domestic production and reduce import dependency.

Agarwal said India has already achieved remarkable success in agriculture—“above the ground”—and must now replicate that momentum in “below-the-ground” sectors like mining and hydrocarbons, where the country holds strong geological advantages.

Citing the transformation of Hindustan Zinc and BALCO, he pointed out that strategic investments and advanced technologies led to a fivefold increase in employment and a 10–15 times surge in production, while also catalyzing the growth of downstream industries.

Agarwal underscored that such a model could be replicated across PSUs without job losses, despite funding challenges, ultimately contributing to the vision of an Atmanirbhar Bharat.

Jindal Steel Expands Angul Plant, Emerges as One of India’s Largest Single-Site Integrated Steel Facilities

Jindal Steel has commissioned its third Basic Oxygen Furnace (BOF-3) at its integrated steel complex in Angul, Odisha, marking a major milestone in its capacity expansion programme. With this addition, the company has completed a 6 million tonnes per annum (MTPA) expansion, significantly boosting production capabilities at the site. The Angul plant’s crude steel capacity has now risen to 12 MTPA, making it one of the largest single-location integrated steel facilities in India. Overall, Jindal Steel’s total steelmaking capacity has increased to 15.6 MTPA, including operations from its Raigarh plant.

The expansion also includes upgrades across key infrastructure such as coke oven units, the cold rolling mill (CRM) complex, and other upstream and downstream facilities, along with the integration of BOF-2 and BOF-3 systems. The company stated that the entire project was completed within the planned timeline, ensuring smooth commissioning of all units.

The increased capacity is expected to enhance production efficiency, improve plant utilisation, and support better cost optimisation for the company. Industry experts believe such large integrated facilities strengthen supply chain efficiency and help meet rising domestic steel demand driven by infrastructure growth.

The expansion also aligns with India’s broader industrial strategy of boosting domestic manufacturing and advancing the vision of self-reliance in the steel sector under Atmanirbhar Bharat. With infrastructure development accelerating across the country, the enhanced steel output from Angul is expected to support key sectors such as construction, railways, and manufacturing, further strengthening India’s industrial growth story.

Strengthening India’s Export Ecosystem and continued tactical support amid Global Uncertainties necessary, says PHDCCI

India’s export performance remains robust, with cumulative exports (merchandise and services) reaching US$ 790.86 billion during April–February FY 2025–26, registering a growth of 5.79% year-on-year compared to US$ 747.58 Billion in April-February 2024-25, reflecting sustained momentum despite global uncertainties said Mr. Rajeev Juneja, President, PHDCCI.

The cumulative value of merchandise exports during April-February 2025-26 was US$ 402.93 Billion, as compared to US$ 395.66 Billion during April-February 2024-25, registering a positive growth of 1.84%.

Exports during February 2025 – February 2026 indicates a mixed but broadly positive performance with key growth industries which include engineering goods (12.9%), electronic goods (10.37%), organic & inorganic chemicals (6.85%), and meat, dairy & poultry products (22.66%), reflecting strength in manufacturing and value-added segments, he added.

Looking at a more granular level, commodities such as coffee (31.92%), marine products (13.27%), and other cereals (170.14%) recorded strong growth.

India’s strategy of export diversification amidst ongoing geo-economic disruptions is paying off with strong growth been recorded in markets like China (32.37%), Vietnam (49.46%), and Hong Kong (32.14%) during February 2026, indicating expanding trade linkages in Asia, he said.

The Government’s continued efforts to strengthen India’s export ecosystem with targeted tactical policy support initiatives like recently introduced RELIEF Scheme aims to provide timely risk mitigation support to exporters to navigate disruptions in key maritime routes arising from supply-chain disruptions, he added.

Furthermore, policy initiatives, looking at long term, such as the Foreign Trade Policy (FTP) 2023, Export Promotion Mission, and digital trade facilitation eco-system are playing a critical role in sustaining export growth, he said.

Need for continued policy focus on reducing logistics costs, ensuring stable shipping routes, and supporting MSME exporters with affordable credit hold the key to address India’s widening current account deficit said Dr. Ranjeet Mehta, SG & CEO, PHDCCI.

The Four-Wheel Shift, VinFast VF 3 Makes Indonesian Users Upgrade from Motorbikes

JAKARTA, INDONESIA – 24 March 2026 – In Indonesia, where motorbikes have long dominated daily mobility, transitioning to a car has traditionally been seen as a major leap, one associated with higher costs, lifestyle adjustments, and urban constraints. However, the arrival of the VinFast VF 3 is rapidly reshaping that narrative.

For many first-time car buyers, especially those upgrading from motorbikes, the most striking impression of the VF 3 is not its technology, but its sense of relief. No more exposure to heat, rain, or fatigue from long hours navigating traffic, common realities in cities like Jakarta or Surabaya.

‘A small car, yet a whole world of its own’

One user described the experience as “stepping into a completely different world”, a space where they can lean back, relax, and actually enjoy the journey instead of enduring it.

Despite its compact footprint, the VF 3 offers a surprisingly optimized cabin. Its minimalist yet functional design ensures that every element serves a clear purpose, from seating layout to dashboard ergonomics. The air-conditioning system cools the interior quickly, a crucial advantage in tropical climates.

A particularly thoughtful design detail is the upright windshield, which helps reduce direct sunlight entering the cabin, an issue that many traditional sedans in Southeast Asia still struggle with. These seemingly small refinements collectively deliver a noticeably improved everyday experience.

More importantly, for many Indonesian families, VF 3 quickly becomes part of daily life: school runs, grocery trips, and weekend getaways. A compact car, yet a complete personal space on wheels.

Effortless driving, confident journeys

One of the biggest psychological barriers for motorbike users switching to cars is driving complexity. The VF 3 addresses this by making the experience intuitive and approachable.

With a light steering feel, tight turning radius, and a length of just around 3 meters, this mini-SUV is perfectly suited for navigating dense urban environments, a defining characteristic of Indonesian cities.

The gear selector, positioned conveniently behind the steering wheel, further simplifies operation, especially for first-time drivers.

Beyond ease of use, the VF 3 delivers a distinctly different driving experience thanks to its electric powertrain. Acceleration is smooth and immediate, allowing for responsive maneuvering in traffic. Even at speeds of 70-80 km/h, the vehicle maintains stability and a planted feel, giving drivers confidence on highways and intercity routes.

Notably, with a maximum torque of up to 110 Nm, the VF 3 exceeds expectations for a vehicle in its segment. It handles inclines and varied terrains with ease, proving capable even on more challenging routes.

When cost is no longer a barrier

Beyond user experience, economics plays a decisive role in Indonesia’s mobility transition, and this is where VinFastcreates a compelling advantage.

Unlike gasoline vehicles, electric cars offer significantly more predictable operating costs. Users are no longer exposed to volatile global fuel prices. Instead, electricity costs are generally more stable and easier to forecast.

More importantly, VinFast introduces an innovative battery subscription model, which has already received positive feedback in Indonesia. By separating the battery, the most expensive component, from the vehicle price, the company significantly reduces upfront ownership costs.

This aligns closely with Indonesian consumer behavior, where affordability at the point of purchase remains a key decision factor, even if long-term savings are evident.

VinFast further strengthens this advantage through a seasonal promotion: free battery subscription fees for two years for vehicles invoiced before May 31, 2026. Economically, this is highly impactful, as it effectively eliminates a major portion of early-stage operating costs.

When both initial investment and ongoing expenses are minimized, the barrier to switching from motorbikes or gasoline cars to EVs becomes dramatically lower.

A “golden opportunity” to go electric

Amid increasing volatility in global fuel markets, Vingroup has launched the “Trade Gas for Electric” program across multiple markets, including Indonesia.

The initiative provides an additional 3% discount on VinFast electric cars and a 5% discount on VinFast electric scooters for customers who switch from older gasoline vehicles.

At the same time, GSM Green and Smart Mobility is supporting this transition through discounted electric mobility services, allowing users to experience EVs firsthand before making a purchase decision.

Together, these efforts reflect a comprehensive ecosystem approach, not just selling vehicles, but enabling a complete shift in mobility behavior.

In a country where motorbikes have long been the default choice, the VF 3 introduces a new paradigm: compact, accessible, and intelligently designed mobility. It delivers not only convenience and cost efficiency, but also a tangible upgrade in quality of life, from protection against weather conditions to creating a private, comfortable space for families.

As urbanization accelerates and mobility needs evolve, solutions like the VF 3 are no longer optional. Ultimately, the reason many Indonesian users are willing to “ditch motorbikes without regret” is simple. They are choosing a better way to move, and a better way to live.