 "AH-64E Apache")
E-buses to rly track work, Union Cabinet approves Rs 1.18 trillion plans
The government on Wednesday cleared a slew of schemes and projects totalling Rs. 1.18 trillion, including the deployment of over 10,000 electric buses across cities in the country, the ramp-up of the existing railway line capacity, and the expansion of the Digital India programme. The Vishwakarma scheme, announced by Prime Minister Narendra Modi in his Independence Day speech for artisans and craftspeople, was also approved by the Union Cabinet. Read more
Adani sells shares in Adani Power to GQG Partners, others for $1 bn
Australia-listed investment firm GQG Partners on Wednesday invested $1.1 billion (Rs9,000 crore) in Adani Power by buying an 8.1 per cent stake from the Adani family via multiple block deals. With this investment, GQG Partners has bought Rs34,000 crore ($4.2 billion) worth of shares in Adani group companies since March this year. Interestingly, the move comes days after Qatar Investment Authority, a sovereign fund, picked up a 2.7 per cent stake in Adani Green Energy for Rs 3,920 crore. Read more
Future Retail resolution professional seeks insolvency deadline extension
The resolution professional (RP) of Future Retail Ltd has approached the National Company Law Tribunal (NCLT), seeking a further extension till September 15 to complete the corporate insolvency resolution process (CIRP) of the debt-ridden firm. The RP of the company has moved an application before the Mumbai bench of NCLT to exclude a period of 29 days from CIRP of Future Retail Ltd, according to a regulatory filing. Read more
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Tech companies are slowing layoffs but still not yet resuming hiring
Tech companies aren’t yet ramping up hiring after massive layoffs over the past year, despite a surge in interest in artificial intelligence, requiring workers with special skills. Still, job cuts in the tech industry appeared to slow in June and July and are on track to be even lower this month, according to an analysis by research firm Jefferies, citing proprietary data as well as that from job marketplace TrueUp. Read more
Boeing commences production of AH-64E Apache choppers for Indian Army
Defence major Boeing on Wednesday said it had started producing AH-64E Apache attack helicopters in Mesa, Arizona, in an encouraging sign for Indian Army’s mechanised strike formations. Boeing will deliver six AH-64E Apache helicopters to the Indian Army for Rs. 4,168 crore. All six of these Apaches are to be delivered by 2024. Read more
