Industry News

Housing Development Finance Corporation Limited (HDFC) and HDFC Bank Ltd. Bank Merger

India: The HDFC-HDFC Bank merger is one of the most significant mergers in Indian corporate history, announced on April 4, 2022, with the aim to garner bigger growth opportunities for the combined entity.

Bharat Petroleum Corporation Ltd (BPCL) to Invest USD 5922 Million in Expanding Petrochemical and Renewable Energy Capacity at Bina Refinery

Bharat Petroleum Corporation Ltd (BPCL), one of India''s leading state-owned oil and gas companies, plans to invest USD 5922 million in expanding its Bina refinery''s petrochemical and renewable energy capacity project.

INEOS Founder Fears for North Sea Future

Jim Ratcliffe, the founder and chairman of INEOS, expressed his concerns for the North Sea''s futur. The allegation claims that Ratcliffe warned his Forties Pipeline System company that the UK government''s 75 percent windfall tax on North Sea oil and gas producers would cause a decline in investme

The Estée Lauder Acquired TOM FORD Brand

United States: In April 2023, The Estée Lauder Companies Inc. announced that it had completed its acquisition of the TOM FORD brand and is now the sole owner of the brand along with all of its intellectual property.

SAP incorporates the generative AI technology from Microsoft

A new partnership between SAP and Microsoft has been revealed. It will use generative AI to address important business issues.

GAIL (India) Limited plans to establish an ethane cracker worth USD 4.9 billion in Maharashtra, India

To cater to the increasing domestic demand for ethylene GAIL (India) Limited looking to expansion of its ethylene production facility in Maharashtra, India

Gujarat Government Allocates USD268.80 million For the Development Of Road Infrastructure

The Gujarat government has allocated USD268.80 million for the construction of 94 roads totaling 919 km, from small villages to major cities, in an effort to keep up with the state''s rapid infrastructural development.

Sustaining Gardens with Recycled Wastewater

The Coimbatore City Corporation has made ambitious plans to utilize treated wastewater from the Valankulam sewage treatment plant for irrigating the gardens of the upcoming Semmozhi Poonga.

Allkem and Livent Collaborate to Form Leading Lithium Chemicals Company

To cater to the increasing demand for integrated lithium chemicals Allkem and Livent announced to form new entity that focuses on lithium production.

US-FDA grants approval for REXULTI (brexpiprazole)

Otsuka and Lundbeck announce that they have received FDA approval for REXULTI for the treatment of agitation associated with dementia due to Alzheimer’s disease.

Allot Joins Forces with Eastern European Telecom Group to Secure Consumers with Advanced Cybersecurity Services

Allot, a leading provider of network intelligence and cybersecurity solutions, has joined forces with an Eastern European telecom group to unveil a range of cutting-edge consumer cybersecurity services.

Star Cement and Government of Assam Join Forces in INR 1,400 Crore (USD 168 million) Investment Pact to Fuel Infrastructure Growth

Assam''s leading cement manufacturer, Star Cement, has recently made headlines by signing a significant investment pact worth INR 1,400 crore (USD 168 million). This strategic move is expected to bolster the state''s infrastructure development and further contribute to Assam''s growing cement indus

Hyundai Motors India to invest around USD 2.4 billion in India to ease its EV Journey

South Korean auto major Hyundai Motor India (HMIL) has planned to make inroads into electric vehicles by announcing a huge investment of USD 2.4 billion in Tamil Nadu, India, over ten years (2023–2022).

Ministry of Power Constitutes Panel to Suggest Roadmap for Electricity Market Development

The peak demand for electricity in India is expected to increase from 215.8 GW in 2022-23 to 335 GW by 2029-30.

Swachh Bharat Mission Grameen Phase II: Half of India''s Villages Now Open Defecation Free Plus!

The Swachh Bharat Mission Gramin (SBM-G) has attained a significant milestone by designating 50% of India''s villages as ODF Plus.

MediaTek Boosts Flagship 5G Smartphones Performance Further with the Dimensity 9200+ Chipset

With the recent release of its flagship 5G smartphone Dimensity 9200+ chipset, MediaTek has increased the scope of its dimensity portfolio. For improved gameplay and longer battery life, this new product improves overall performance while preserving power efficiency.

A private 5G network has been introduced by Ericsson to the Tallinn supply facility

Telia, a Swedish telecom company, and Ericsson are collaborating to provide a private 5G network. Numerous cutting-edge use cases, including real-time video analytics and digital twins, will be made possible.

HPL Electric and Power Ltd, secured orders worth 24.85 USD Million for the supply of smart meters

Leading Indian electrical equipment supplier HPL Electric and Power Ltd recently received orders for the supply of smart meters totaling USD24.85 million. Contracts have been secured from various state electricity distribution companies as well as private sector clients.

Challenges in Power Generation: NLC''s Thermal Plants Shut Down Causing Power Shortage in Southern India

The Neyveli Lignite Corporation (NLC) India Limited in the southern Indian state of Tamil Nadu has experienced a significant in power generation due to the shutting down of its thermal power plants.

Global Refinery Margins Lose Steam as Russian Oil Finds New Outlets

As Russian exports continue despite sanctions, helping output from China and India reach all-time highs in March, global diesel margins have fallen by about half since February, weighing on refiners'' profits.