US gas major to invest $5-10 billion in coal gasification in India : Bulletin: Business Today
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US gas major to invest $5-10 billion in coal gasification in India

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Shailendra Shukla | November 6, 2020

US gas major to invest $5-10 billion in coal gasification in India

The US-based industrial gases major Air Products and Chemicals is planning to invest $5-10 billion over the next five years in coal gasification projects in India. Air Products, the world leader in coal gasification, will build, own and operate multiple world-class coal gasification complexes in India, partner with coal suppliers like Coal India to get the feedstock, and supply industrial gases to end customers.

NPCI allows WhatsApp to start UPI services with only 5% users

Facebook-owned WhatsApp has finally got the go-ahead from the Reserve Bank of India's (RBI) National Payments Corporation of India (NPCI) to offer UPI-based digital payments after a two-year long wait. NPCI, the umbrella organisation for operating retail payments and settlements in India, has taken a cautious approach and said, "WhatsApp can expand its UPI user base in a graded manner starting with a maximum registered users of 20 million in UPI."

PM Modi invites global investors, says 'India is the place to be

'Addressing prominent institutional investors from around the world, Prime Minister Narendra Modi assured that India can provide them strong and reliable returns in these times of crisis. The Prime Minister listed various reforms undertaken by the  government that make the nation a lucrative venture prospect for investors all over the world. India offers you democracy, demography, demand as well as diversity, PM Modi said while addressing representative from 20 of the world's largest pension and sovereign wealth funds at the Virtual Global Investor Roundtable.

Haryana to bring 75% job quota for locals in private sector

The Haryana Assembly on Thursday passed a bill to give 75 per cent reservation in the private sector to job seekers from the state, a key poll promise made by ruling alliance partner Jannayak Janta Party. The Haryana State Employment of Local Candidates Bill, 2020 provides the quota for local people in private sector jobs, that offer a salary of less than Rs 50,000 a month. The quota will initially apply for 10 years, according to the bill, which now needs the assent of the state Governor to become law. The bill covers private companies, societies, trusts and partnership firms, among others, in the state. It provides for training to eligible local candidates when qualified people are not available.

Flipkart acquires stake in fashion brand Universal Sportsbiz

Walmart-owned Flipkart announced on Thursday that it has bought an equity stake in fashion brand Universal Sportsbiz Pvt. Ltd. (USPL), as it looks to strengthen its fashion portfolio. Although the e-tailer did not disclose the financial details of the investment, it said that it will work in tandem with the Bengaluru-based company to deepen product offerings on its e-commerce platforms. USPL is a youth-focussed fashion brand that owns brands such as Wrogn, Single, and Ms.Taken.

China suspends special flights, entry of foreign nationals from India; cites spike in COVID-19 cases

China on Thursday, November 5, announced that it has temporarily barred the entry of foreign nationals living in India into the country. The order will be applicable to all foreign nationals in India holding valid Chinese visas or residence permits. China has additionally suspended all special flight operations from India, banning non-Chinese flyers from returning to the country in the wake of rising coronavirus cases on last week's Vande Bharat Mission (VBM) flights.

Delhi govt bans firecrackers ahead of Diwali as coronavirus cases, air pollution rise

Delhi Chief Minister Arvind Kejriwal on Thursday, November 5 banned firecrackers in the national capital in the run-up to Diwali. He took the decision after assessing the coronavirus situation in Delhi in a review meeting with chief secretary, health department officials, and district magistrates (DMs). The chief minister also said that the COVID-19 situation in Delhi has worsened owing to the festive season and rising pollution levels.

Saudi Arabia's Public Investment Fund invests Rs 9,555 crore in Mukesh Ambani's Reliance Retail

Saudi Arabia sovereign wealth fund Public Investment Fund (PIF) will invest Rs 9,555 crore (approximately $1.3 billion) into Reliance Retail for an equity stake of 2.04 per cent. This investment would value RRVL at a pre-money equity value of Rs 4.587 lakh crore (approximately $62.4 billion), stated Reliance in a statement on Thursday. PIF's investment comes after it invested Rs 11,367 crore (approximately $1.5 billion) in Reliance Jio for an equity stake of 2.32 per cent.

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