Monthly Current Affairs October 2016 “BUSINESS” key points to Remember.
Oil India (OIL) has signed Memorandum of Understanding with the University of Houston (USA) to
collaborate in the fields of Improved Oil Recovery & Enhanced Oil Recovery for production
enhancement from matured fields, seismic interpretation & reservoir characterisation studies,
improvement of drilling and well intervention practices and unconventional hydrocarbon studies.
collaborate in the fields of Improved Oil Recovery & Enhanced Oil Recovery for production
enhancement from matured fields, seismic interpretation & reservoir characterisation studies,
improvement of drilling and well intervention practices and unconventional hydrocarbon studies.
The BJP-led Centre had integrated 250 mandis in 10 states in the first phase of its
ambitious electronic national agriculture market (e-NAM), established to provide
transparent and profitable trade facilities to farmers and buyers.
ambitious electronic national agriculture market (e-NAM), established to provide
transparent and profitable trade facilities to farmers and buyers.
OPEC agreed on modest oil output cuts in the first such deal since 2008, with the group’s leader
Saudi Arabia softening its stopped the flow on arch-rival Iran amid mounting pressure from low oil
prices. The OPEC is an intergovernmental organization of 14 oil-exporting developing nations that
coordinates and unifies the petroleum policies of its member countries.
Saudi Arabia softening its stopped the flow on arch-rival Iran amid mounting pressure from low oil
prices. The OPEC is an intergovernmental organization of 14 oil-exporting developing nations that
coordinates and unifies the petroleum policies of its member countries.
Dassault Aviation of France had entered into a partnership with Reliance group to execute offsets for
the recently concluded deal for 36 Rafale fighter jets.This is the largest offset contract to be executed
by any defence company in India till date. As per the contract, Dassault Aviation prepared to
invest 50 % of its revenue, up toRs.300 billion ($4.51 billion), in the Indian defence industry to boost
technological innovation and capacity building.
the recently concluded deal for 36 Rafale fighter jets.This is the largest offset contract to be executed
by any defence company in India till date. As per the contract, Dassault Aviation prepared to
invest 50 % of its revenue, up toRs.300 billion ($4.51 billion), in the Indian defence industry to boost
technological innovation and capacity building.
Indian pharmaceuticals sector seeked major support from the Japanese market, Commerce
Minister Nirmala Sitharaman announced that the share of India in the Japanese drug market.The
demand for generic medicines in Japan and India’s capability to meet this demand can prove a winwin
for both countries
Minister Nirmala Sitharaman announced that the share of India in the Japanese drug market.The
demand for generic medicines in Japan and India’s capability to meet this demand can prove a winwin
for both countries
India’s biggest-ever spectrum auction ended with the Centre garnering Rs.65,789 crore in
revenue. An upfront payment of Rs.32,000 to be received by the government in the current year is
the highest in four years. Still the figure fell short of the budgetary target of Rs.64,000 crore for the
current financial year.
revenue. An upfront payment of Rs.32,000 to be received by the government in the current year is
the highest in four years. Still the figure fell short of the budgetary target of Rs.64,000 crore for the
current financial year.
Indian Oil Corporation(IOC) has announced a start-up scheme with a corpus amount of Rs.30 crore.
Doordarshan and Indira Gandhi National Open University (IGNOU) had entered into an agreement
for transmission of four Gyan Darshan educational channels. Gyan Darshan ran successfully till June
2, 2014, but was shut down by ISRO to facilitate its migration from INSAT 3C to GSAT-10.
for transmission of four Gyan Darshan educational channels. Gyan Darshan ran successfully till June
2, 2014, but was shut down by ISRO to facilitate its migration from INSAT 3C to GSAT-10.
Revenue department has extended anti-dumping duty on import of certain Chinese products, used
in garment, footwear and toys manufacturing, for another five years.The anti-dumping duty on
‘narrow woven fabrics hook and loop velcro tapes’ would be charged at the rate of USD 1.87 per
kilogram.
in garment, footwear and toys manufacturing, for another five years.The anti-dumping duty on
‘narrow woven fabrics hook and loop velcro tapes’ would be charged at the rate of USD 1.87 per
kilogram.
India based airlines IndiGo has introduced child-free zones on all of its flights. According to this
rows 1 to 4 and 11 to 14are designated quiet zones so that business travelers can do their work
without interruption.
rows 1 to 4 and 11 to 14are designated quiet zones so that business travelers can do their work
without interruption.
New Delhi based BHEL is commissioned another 660 MW coal-based supercritical thermal power
unit in Uttar Pradesh. It has added 4,300 MW of power generation capacity in the state of Uttar
Pradesh in December 2015
unit in Uttar Pradesh. It has added 4,300 MW of power generation capacity in the state of Uttar
Pradesh in December 2015
Ministry of Commerce & Industry to provide easy access to the public with regard to India’s export,
import and balance of trade data in an analytical format, over time and space, Commerce & Industry
Minister Smt. Nirmala Sitharaman launched a new enhanced Dashboard on Foreign Trade Data.
import and balance of trade data in an analytical format, over time and space, Commerce & Industry
Minister Smt. Nirmala Sitharaman launched a new enhanced Dashboard on Foreign Trade Data.
The Centre would invest Rs.15,000 crore to increase the capacity of Panipatrefineryfrom 15 million
tonnes (MT) to 25 MT to create jobs was the announcement made by Dharmendra Pradhan, Union
Minister of State for Petroleum and Natural Gas.
tonnes (MT) to 25 MT to create jobs was the announcement made by Dharmendra Pradhan, Union
Minister of State for Petroleum and Natural Gas.
Indian Oil Corp (IOC) planned to construct the nation’s longest LPG pipeline(1,987 kilometer) from
Gujarat coast to Gorakhpur in eastern Uttar Pradesh to supply to growing demand for cooking gas in
the country.
Gujarat coast to Gorakhpur in eastern Uttar Pradesh to supply to growing demand for cooking gas in
the country.
The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi,
has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing
Companies (OMCs)
has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing
Companies (OMCs)
India has received the first parcel of Iranian oil to partly fill its strategic storage in southern
India, Mangalore Refinery and Petrochemicals Ltd, which imported the very large crude
carrier (VLCC).MRPL shipped in 2 million barrels of Iranian oil in the very large crude carrier Dino.
India, Mangalore Refinery and Petrochemicals Ltd, which imported the very large crude
carrier (VLCC).MRPL shipped in 2 million barrels of Iranian oil in the very large crude carrier Dino.
Anil Ambani-led Reliance Communications Ltd. (RCom) has signed a non-binding term sheet with
Canadian Brookfield Infrastructure Group (Brookfield) to sell a majority 51 per cent stake of its
nationwide tower assets and related infrastructure for Rs. 11,000 crores. It is one of the largest FDI in
infrastructure sector.
Canadian Brookfield Infrastructure Group (Brookfield) to sell a majority 51 per cent stake of its
nationwide tower assets and related infrastructure for Rs. 11,000 crores. It is one of the largest FDI in
infrastructure sector.
TCS is India’s most valuable company with a market capitalization of Rs.4.66 trillion, followed by
Reliance Industries Ltd, HDFC Bank Ltd and ITC Ltd at Rs.3.49 trillion, Rs.3.21 trillion and Rs.2.90
trillion.Oil and Natural Gas Corp. Ltd (ONGC) beat India’s second largest software exporter, Infosys
Ltd to become the fifth most valuable company in India by market capitalization.
Reliance Industries Ltd, HDFC Bank Ltd and ITC Ltd at Rs.3.49 trillion, Rs.3.21 trillion and Rs.2.90
trillion.Oil and Natural Gas Corp. Ltd (ONGC) beat India’s second largest software exporter, Infosys
Ltd to become the fifth most valuable company in India by market capitalization.
Government has formally granted a licence to BP, Europe’s third-biggest oil company, to set
up 3,500 petrol pumps in India.It is a UK-based firm.BP granted licence to market Motor
Spirit (petrol) and High Speed Diesel (diesel) – another milestone for BP in India.
up 3,500 petrol pumps in India.It is a UK-based firm.BP granted licence to market Motor
Spirit (petrol) and High Speed Diesel (diesel) – another milestone for BP in India.
The Hinduja flagship Ashok Leyland has launched its first locally designed, engineered and
produced battery electric bus series Circuit. A zero-emission, non-polluting vehicle created
specifically for Indian road and passenger conditions, the bus has a seating capacity ranging from 35
to 65.
produced battery electric bus series Circuit. A zero-emission, non-polluting vehicle created
specifically for Indian road and passenger conditions, the bus has a seating capacity ranging from 35
to 65.
In a deal reportedly worth close to $2 billion, India is set to acquire a second Akula2 nuclearpowered
attack submarine from Russia. The lease deal for the second nuclear submarine was
finalised at a summit-level meeting between Russian President Vladimir Putin and Prime
Minister Narendra Modi.
attack submarine from Russia. The lease deal for the second nuclear submarine was
finalised at a summit-level meeting between Russian President Vladimir Putin and Prime
Minister Narendra Modi.
Azure Power Global Limited become the first Indian solar company to be listed on NYSE after it
announced the pricing of its initial public offering of 3,409,091 equity shares at the New York Stock
Exchange (NYSE).
announced the pricing of its initial public offering of 3,409,091 equity shares at the New York Stock
Exchange (NYSE).
US based Microsoft has set up a cyber-cyber security engagement centre (CSEC) in New Delhi to
work with partners in identifying and responding to cyber threats in India.
work with partners in identifying and responding to cyber threats in India.
Former HCL Technologies Ltd chief executive officer (CEO) Anant Gupta launched a Rs.100 crore
investment fund TECHCELX to invest in start-ups focused on digital technologies such as machine
learning, Internet of Things, artificial intelligence and analytics.
investment fund TECHCELX to invest in start-ups focused on digital technologies such as machine
learning, Internet of Things, artificial intelligence and analytics.
After eight years of harnessing olive saplings brought from Israel, Rajasthan is all set to launch next
month its own brand olive oil, which it claims, will be the country’s first indigenously-produced
brand. The state would be launching its olive oil under the brand ‘Raj Olive Oil’ at the Global
Rajasthan Agri-tech Meet (GRAM) was announced by state Agriculture Minister PrabhuLal Saini.
month its own brand olive oil, which it claims, will be the country’s first indigenously-produced
brand. The state would be launching its olive oil under the brand ‘Raj Olive Oil’ at the Global
Rajasthan Agri-tech Meet (GRAM) was announced by state Agriculture Minister PrabhuLal Saini.
The Telecom Regulatory Authority of India recommended a large sum of penalty ofRs.3, 050
crore on top three telcos – Airtel, Vodafone and Idea, for violating their license agreement and denial
of interconnection to new player Reliance Jio.
crore on top three telcos – Airtel, Vodafone and Idea, for violating their license agreement and denial
of interconnection to new player Reliance Jio.
The Cofounder launches itself as India’s first startup magazine that will help boost the
entrepreneurial ecosystem in the country through its stories. The Cofounder, founded by Adhish
Verma and Arunraj Rajendran, is the first startup magazine that will talk about real stories behind the
early stage startups and entrepreneurs.
entrepreneurial ecosystem in the country through its stories. The Cofounder, founded by Adhish
Verma and Arunraj Rajendran, is the first startup magazine that will talk about real stories behind the
early stage startups and entrepreneurs.
Aditya Birla Group Chairman Kumar Mangalam Birla pledged an investment of Rs. 20,000 crore for
the state of MP in sectors like retail, telecom and cement.
the state of MP in sectors like retail, telecom and cement.
Kolkata-based Srei launched “iQuippo”, a digital marketplace for construction equipment machinery
and services.The construction equipment market is envisaged to grow to Rs.50,000 crore by 2020.
and services.The construction equipment market is envisaged to grow to Rs.50,000 crore by 2020.
Reliance Industries Ltd has received the delivery of world’s first very large ethane carrying
ships Very Large Ethane Carriers (VLECs) from Samsung Heavy Industries’ shipyards in Korea.
RIL inaugurated its very first two VLECs named Ethane Crystal and Ethane Emeraldwhich are the
first in a series of six VLECs ordered by RIL in 2014.
ships Very Large Ethane Carriers (VLECs) from Samsung Heavy Industries’ shipyards in Korea.
RIL inaugurated its very first two VLECs named Ethane Crystal and Ethane Emeraldwhich are the
first in a series of six VLECs ordered by RIL in 2014.