Top headlines: HCLTech in Mexico, CNG price rise, oil purchase and more

From HCLTech announcing plans to hire more people over next 2 years to India's reiterating its choice of importing oil, here are the top headlines this evening

HCLTech to boost presence in Mexico; to hire 1300 employees over next 2 yrs

HCLTech on Saturday announced plans to scale up its operations in Mexico by opening a new technology centre in Guadalajara city and hiring 1300 employees over the next two years amid concerns over high attrition levels.

The new centre in Guadalaraja will enable the company to serve its local and international client base across industries. It will be the sixth technology centre in Mexico and will focus on creating next-generation digital solutions.  Read more here

Morgan Stanley-led banks face $500 million loss on Twitter debt to Musk

When banks led by Morgan Stanley agreed in April to help finance Elon Musk’s purchase of Twitter Inc., they were eager to aid an important client, the richest person in the world. Now neither Musk nor the banks have an obvious way to wriggle out of it.

Lenders that also include Bank of America Corp., Barclays Plc and Mitsubishi UFJ Financial Group Inc. committed to provide $13 billion of debt financing for the deal. Read more here

Prices of CNG, piped cooking gas hiked by Rs 3 as natural gas prices rise

The prices of CNG and cooking gas piped to household kitchens in the national capital on Saturday hiked by Rs 3 each in step with rise in input natural gas prices.

The Rs 3 per kg increase in CNG price is the first hike in rates in over four months, while a Rs 3 per standard cubic metres increase in piped natural gas (PNG) was the first raise in two months. Read more here

India clear about its policy regarding oil purchases, says Hardeep Puri

India has reiterated its choice of importing oil from countries like Russia after OPEC Plus, a consortium of oil-producing nations led by Russia and Saudi Arabia announced a slash in oil production by two million barrels per day.

While talking to reporters in Washington DC during his ongoing US visit, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Saturday touched on several topics including how India will balance OPEC Plus oil production cut, diversification of energy - equity infusion, bio-fuel blending and green hydrogen. Read more here

China slams US for export controls on chips, calls it violation of rules

China on Saturday criticized the latest U.S. decision to tighten export controls that would make it harder for China to obtain and manufacture advanced computing chips, calling it a violation of international economic and trade rules that will isolate and backfire on the U.S.

Out of the need to maintain its sci-tech hegemony, the U.S. abuses export control measures to maliciously block and suppress Chinese companies, said Foreign Ministry spokeswoman Mao Ning. Read more here