General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

Aug 11, 2018

Ashok Leyland Wins EV Deal

Commercial vehicle manufacturer Ashok Leyland Ltd. said that its subsidiary Optare Plc has bagged an order from Transport for London (TfL) for 31 electric double-decker buses.

Godrej and GKN Aerospace Sign Pact

Godrej Aerospace, a unit of Godrej & Boyce Mfg. Co. Ltd., has signed an agreement with U.K.-based GKN Aerospace, a premier aerospace supplier, for the manufacture of specialised helicopter fuel tanks.
This partnership will help establish Godrej Aerospace as one of the key players in the market.

Growth in India's Industrial Output

India's Industrial output grew by 7 per cent in June driven by a pickup in capital goods manufacturing.
Nineteen out of the twenty three industry groups in the manufacturing sector have shown positive growth during the month of June 2018.

Aug 10, 2018

Ramco Systems Bags Deal from AP Cargo

Software firm Ramco Systems bagged a multi-million dollar order from Manila-based air freight leader AP Cargo Logistic Network Corp. to implement its logistics software. AP Cargo would implement the software to "streamline its freight operations countrywide.

Haryana Overtakes UP in Exports

Haryana is now among the top five states of the country in exports, replacing Uttar Pradesh by registering exports of $2,401 million in the first two months of the current financial year. Gujarat tops the list with exports of $13,780 million followed by Maharashtra ($12,622 million), Tamil Nadu ($4,858 million) and Karnataka ($2,566 million).
Major exports from Haryana include engineering goods, automobiles, handloom products, carpets and basmati.

Aug 09, 2018

HSBC Account Data from Switzerland

According to Finance Minister Piyush Goyal, India expects to receive data from Swiss authorities on HSBC accounts of its citizens in about 10 days after Switzerland's apex court directions that data be shared with the Indian government.

Ikea's 1st India Store Opens in Hyderabad

The world's biggest furniture retailer Ikea is to launch its store in Hyderabad. This is Ikea's first venture in India and also the first of the 25 stores it plans to start across the country by 2025.

RBI to Pay Dividend to Government

The RBI has decided to pay Rs. 50,000 crore as dividend to government in line with the Union Budget provisions, helping the Centre stick to its fiscal roadmap.

The Reserve Bank, which follows July-June financial year, has paid about 63 per cent higher dividend than previous year (2016-17). The RBI made a dividend payout of Rs 30,659 crore for the fiscal ended June 2017.

Fonterra Partners Future Group

Fonterra, a leading global dairy exporter based in New Zealand, has partnered with Kishore Biyani-promoted Future Group to unveil a range of consumer and food service dairy products to help meet the growing demand for high-quality dairy nutrition in India.

Fonterra's joint venture (JV) with Future Consumer Ltd. will be known as Fonterra Future Dairy Partners and will enable Fonterra to establish a presence in India.

CCI clears Walmart-Flipkart Deal

The Competition Commission cleared US retail giant Walmart's proposed acquisition of Flipkart, a deal estimated to be worth USD 16 billion.

The approval comes less than three months after the announcement of the mega deal, which is also being opposed by various trader organisations.

Aug 08, 2018

Hike in MLALAD Fund

The Delhi cabinet approved a proposal for a whopping 150 per cent hike in the MLA Local Area Development (LAD) fund to Rs. 10 crore per financial year from the existing Rs. 4 crore for each assembly.

S. Gopakumar Joins United India Insurance

Public sector non-life insurance firm United India Insurance Company appointed S. Gopakumar as its Director and General Manager with immediate effect.

Prior to this new role, Gopakumar was serving GIC Housing Finance Ltd as its Managing Director and Chief Executive Officer.

Import Tax on Textile Products Doubled

India doubled the import tax on more than 300 textile products to 20 percent as the world's biggest producer of cotton tries to curb rising imports from China.

It was the second tax hike on textiles in as many months after an increase on other products including fibre and apparels last month.

The moves are expected to provide relief to the domestic textile industry, which has been hit by cheaper imports.

Escorts' New Chairman and MD

Farm and construction equipment maker Escorts appointed Nikhil Nanda as the chairman and managing director (CMD) of the company to succeed his father Rajan Nanda, who passed away earlier this week. Nikhil Nanda had been a key member of the board since 1997.

Aug 07, 2018

Deadline for Rooftop Solar Bids Extended

Madhya Pradesh Urja Vikas Nigam Ltd has extended the deadline for submission of bids for 33 MWp rooftop solar projects to August 17, 2018, against the backdrop of imposition of safeguard duty on solar equipment in July this year.
The state government-run corporation has invited bids for rooftop solar projects with 33 MW capacity under the Renewable Energy Services Company (RESCO) mode.

Procurement via Government Portal

Twenty-two states, including Punjab, Haryana, Himachal Pradesh and Uttarakhand, have signed an MoU for making procurement through the Government e- Marketplace (GeM) portal mandatory in the state.
Government e-Marketplace (GeM) is an online platform for government users which was launched in August 2016. It leverages technology to enhance transparency, efficiency and speed in public procurement. It provides the tools of e-bidding, reverse e-auction and demand aggregation to facilitate the government users, achieve the best value of their money.

HUL to Acquire Adityaa Milk Brand

FMCG major Hindustan Unilever Limited (HUL) has signed an agreement with Vijaykant Dairy and Food Products Limited (VDFPL) and its group company to acquire its ice cream and frozen desserts.
HUL will acquire VDFPL's flagship brand Adityaa Milk and its front-end distribution network across geographies.
According to the terms of the deal, VDFPL will manage the business until the transaction is completed, and will continue to manufacture for HUL for an agreed period of time.

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