Swiss food giant Nestlé said dismissed its Chief Executive Officer (CEO) Laurent Freixe.
The maker of Nescafé drinks and Purina pet food said that the dismissal was effective immediately. An investigation found the undisclosed romantic relationship with a direct subordinate violated Nestlé's code of conduct.
Freixe, who had been CEO for a year, will be replaced by Philipp Navratil, a long-time Nestlé executive.
SBI and AFD Sign Euro 100 Million Line of Credit to Boost Green Financing in India
State Bank of India signed a Line of Credit agreement of EUR 100 million with Agence Francaise de Developpement (AFD) at its GIFT City branch.
As per reports, the funds mobilised through this partnership will be utilised in Climate Mitigation Actions aimed at reducing greenhouse gas emissions to slow down global warming and climate adaptation measures designed to adjust systems, practices, and infrastructure to minimise the damage caused by current or anticipated impacts of climate change.
The partnership is a strategic step towards SBI's goal of achieving a green portfolio constituting 7.5-10 per cent of its domestic gross advances by 2030.
Indian Railways & State Bank of India Sign MoU for Enhanced Insurance Benefits to Railway Employees
A Memorandum of Understanding (MoU) was signed between two of India's leading institutions – Indian Railways (IR), and the State Bank of India (SBI), the country's largest public sector bank. The ceremony was honoured in the presence of the Minister for Railways, Information & Broadcasting, Electronics & Information Technology, Ashwini Vaishnaw; the Chairman, Railway Board, Satish Kumar; and the Chairman, SBI, C.S. Setty.
Under this MoU, insurance coverage for Railway employees maintaining salary accounts with SBI has been significantly enhanced. In case of accidental death, the insurance benefit has been increased to ₹1 crore, compared to the current coverage of ₹1.20 lakh, ₹60,000 and ₹30,000 for Group A, B, and C employees respectively covered under CGEGIS.
India Opens First Mobile Tempered Glass Factory
Union Minister of Electronics and Information Technology Ashwini Vaishnaw inaugurated India's first Tempered Glass Manufacturing Facility for Mobile Devices at Noida, Uttar Pradesh. The facility has been set up by Optiemus Electronics in collaboration with Corning Incorporated, USA, and will produce high-quality tempered glass under the globally recognised brand "Engineered by Corning". The products will be supplied to both domestic and international markets.
Aug 31, 2025
Reliance to Build Solar Project Three Times the Size of Singapore
Reliance Industries announced a transformative energy plan to make Jamnagar and Kutch in Gujarat global centres for clean energy production. At the 48th Annual General Meeting, Anant Ambani, Director of Reliance New Energy, showcased the company's massive infrastructure and technology push in solar, battery storage, and hydrogen. These developments promise to redefine India's position in the global green energy economy.
The upcoming Dhirubhai Ambani Giga Energy Complex in Jamnagar is being built on an unprecedented scale. It includes gigafactories for solar panels, green hydrogen, battery storage, and electrolyser production, all within one complex.
In Kutch, Reliance is setting up one of the world's biggest solar projects, spanning 550,000 acres—about three times the size of Singapore. At full pace, the site will install,
55 MW of solar modules daily
150 MWh of battery containers daily
Meeting India's Power Needs
Aug 30, 2025
India's 1st Made-in-India Chip to Roll out from Sanand's CG Semi Plant
India's first 'made-in-India' semiconductor chip will roll out of Gujarat's CG Semi Pvt Ltd in Sanand, Information Technology (IT) Minister Ashwini Vaishnaw said at the inauguration of CG Semi's pilot OSAT (Outsourced Semiconductor Assembly and Test) facility.
The Sanand OSAT facility is the country's first end-to-end unit, the government said, developed by CG Semi, which holds a 92.3% stake. The project is in collaboration with Renesas Electronics and Stars Microelectronics, which hold around 6.8% and 0.9% equity, respectively.
Mastercard, Infosys Partner to Boost Cross-Border Payments
Infosys announced a partnership with Mastercard to offer financial institutions enhanced access to Mastercard Move, its portfolio of money movement capabilities.
The solution's seamless integration with Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, will play a key role in creating an efficient pathway for financial institutions to access Mastercard Move's cross-border capabilities in a fraction of the typical implementation time and without the intensive resourcing traditionally needed for integration projects.
Aug 29, 2025
TCS Appoints Amit Kapur as Head of the Newly Formed AI and Services Unit
Tata Consultancy Services (TCS) created a new Artificial Intelligence (AI) and Services Transformation unit, highlighting AI's increasing role in the company's plans.
The company named Amit Kapur, who heads TCS's UK and Ireland business as the head of its newly formed AI and services transformation unit. He will assume the role of Chief AI and Services Transformation Officer from September 1, 2025. Kapur has worked with TCS for over 26 years and will report to Aarthi Subramanian, Executive Director, President and Chief Operating Officer.
Aug 28, 2025
Nayara Energy Appoints Teymur Abasguliyev as CEO
Nayara Energy, one of India's major private oil refiners, appointed Teymur Abasguliyev, a senior executive from SOCAR Turkiye Enerji A.S., as its new Chief Executive Officer (CEO). The decision follows the resignation of Alessandro Des Dorides and other top European executives.
The appointment came in the wake of the European Union's 18th round of sanctions on Russia, which included Nayara Energy due to its association with Rosneft, a Russian state-owned oil giant that holds a 49.13% stake in Nayara.
Teymur Abasguliyev is an Azerbaijan national, educated at Baku State University. He has had a long career in finance and energy.
J&K Bank Appoints Veteran Banker S. Krishnan as Non-executive Chairman
Jammu & Kashmir Bank announced the appointment of S. Krishnan as its new non-executive chairman, subject to Reserve Bank of India (RBI) approval. The appointment, approved by the bank's board is valid until March 26, 2028.
S. Krishnan brings over 40 years of experience in the banking sector. His career highlights include,
Managing Director & CEO of Punjab & Sind Bank
MD & CEO of Tamilnad Mercantile Bank (appointed in 2022)
Grihum Housing Appoints Ex-Citi Banker Arjun Chowdhry as CEO
Grihum Housing Finance, a TPG-backed mortgage lender, named Arjun Chowdhry, a former Citibank and Axis Bank Executive, as its new Managing Director and CEO. The announcement follows the resignation of current MD & CEO Manish Jaiswal, effective August 31, who will continue in an advisory role until December 31.
Chowdhry has over two decades of financial sector experience.
+91-85588-96644
