Oman opens doors for investment, invites Indian companies
Oman has invited Indian companies for investment and industrial expansion. Yahya Al Dugaishi, Counselor of Oman Embassy, said that Oman has today become a strategic gateway for Indian industry to connect with the global market. A high-level program was organized in Delhi on investment opportunities in Oman’s aluminum sector, the embassy said in a statement. It was attended by leading industrialists, investors and trade organizations of India. The event was organized in collaboration with Oman Aluminum Rolling Company and Embassy of Oman. Deputy Chief of Mission of Oman Embassy Tahra Al Jadjali said that the economic partnership between India and Oman is strengthening. He noted Oman’s strategic geographical location, world-class ports and pro-industry policies. Under ‘Oman Vision 2040’, the country is promoting industrial diversification and value-added manufacturing.
TotalEnergies sold stake in Adani Green
French energy company TotalEnergies acquired Adani Green Energy Ltd. in the December quarter. (AGEL) has sold its 1.7 percent stake. The company said in a statement issued on Wednesday that it raised $ 2.08 billion from the sale of assets during the December quarter of the current financial year. However, the company in its statement did not mention the reasons related to selling stake in Adani Green Energy.
Akasa Air co-founder Praveen resigns
Akasa Air co-founder and chief commercial officer Praveen Iyer has resigned. This is the second resignation at a senior level in the company within four months. After a remarkable five-year journey, Iyer has decided to embark on the next chapter of his life, Akasa Air said on Wednesday. He will work closely with the leadership team till April 30 for smooth transition of work.
Morgan Stanley and Goldman bought stake in Ather Energy
Several companies including Morgan Stanley, Goldman Sachs, Societe Generale and Abu Dhabi Investment Authority on Wednesday together bought 1.92 per cent stake in Ather Energy for Rs 521 crore. This purchase has been done through an open market transaction from the National Investment and Infrastructure Fund. These companies bought a total of 73,33,219 shares of electric two-wheeler maker Ather Energy on NSE and BSE.
Airtel: AI solution to tackle bank fraud
Bharti Airtel unveiled Fraud Alert, an AI-powered solution to provide customers with instant protection from the growing threat of one-time-password (OTP) related bank frauds. The new AI-powered system identifies such potential threats related to banking OTPs and immediately alerts customers, Airtel India MD-CEO Shashwat Sharma said on Wednesday.
62% decline in profits of LG Electronics
The net profit of LG Electronics declined by 62 percent to Rs 89.67 crore in the third quarter of the current financial year. The appliance and consumer electronics manufacturer said on Wednesday that its operating income remained almost stable at Rs 4,114.4 crore during this period. This is the company’s second quarterly result since its listing in October last year.
