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Daily G.K. - Top Stories

16 Oct 2016

INTERNATIONAL AFFAIRS

Dhaka and Beijing Sign Deals

  • Bangladeshi and Chinese companies have signed trade and investment deals worth over $13 billion, mainly covering infrastructure and energy sectors, in addition to the $20 billion in loan agreements the two governments signed during President Xi Jinping’s visit to the country.
  • MR. Xi was the first Chinese leader to visit Bangladesh in 30 years.
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BUSINESS AND ECONOMY

ITC Sells Entire Stake in U.S. Subsidiary

  • ITC Ltd has sold its entire stake in its U.S. subsidiary, engaged mainly in cigarette distribution, for $24 million.
  • The divestment is subject to regulatory approvals and customary closing conditions. The sale agreement was signed earlier this month and is expected to be completed in November.
  • The buyer is Premier Manufacturing Inc., U.S.

RCom to Sell 51% in Tower Unit

  • Canadian private equity giant Brookfield has agreed to buy a majority stake of 51% in Anil Ambani-controlled Reliance Communications' mobile phone tower unit for Rs. 11,000 crore.
  • This will be the largest acquisition in the country's mobile phone tower segment.
  • RCom, which has signed a 'non-binding' term sheet with Brookfield, will hold the remaining 49% in the tower business, which is currently housed under Reliance Infratel.
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NATIONAL AFFAIRS

India and Russia Sign Deal on Information Security

  • India and Russia sealed a deal on information security aimed at countering terrorism, drug trafficking and other illegal cross-border activities.
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