Investment

The year-on-year (Y-o-Y) growth in bank credit is expected to decelerate sharply to 6.5-7.0% during FY2020 from FY2019’s 13.3%, following limited incremental credit growth during FY2020 till date, says rating agency ICRA Ltd on 26 Dec 2019.

HCL Technologies has opened a Global Delivery Center (GDC) in Moncton, New Brunswick (Canada) and two new technology delivery centers in Vilnius, capital city of Lithuania.

Of the total US$35 billion loan advances given to developers in MMR, nearly US$8.7 billion (or 25%) is currently under ‘severe’ stress, writes Shobhit Agarwal, MD & CEO - ANAROCK Capital.

The Cabinet Committee on Economic Affairs has approved the transfer of administrative control of Brahmaputra Cracker and Polymer Limited (BCPL) to Ministry of Petroleum & Natural Gas to get 15-year subsidy of Rs.4,600 crore.

India has launched its first long distance CNG-fuelled bus for traveling around 1,000 kms in a single fill in light composite tanks made by India-US partnership.

The Cabinet was apprised of a Memorandum of Understanding between Saudi Arabia and India for setting up a framework for cooperation in the field of renewable energy such as technologies.

The Cabinet has approved the release Rs.627.40 crore for 10 projects sanctioned during 2018-19 and additional Rs.1,854.67 crore for sanctioning of new tourism infrastructure projects during 2019-20 under Swadesh Darshan Scheme.

Saudi Arabia and India share a commitment to expanding and liberalizing bilateral trade relations, said Saleh bin Nasser Al-Jasser, Saudi Minister of Transport in Mumbai on 23 Dec 2019.

L&T Technology Services Limited (LTTS) has won a multi-million-dollar project from one of the world’s top plastics, chemicals and refining manufacturers for the expansion of an existing site in Germany.

Four works of total 640-route-km at a total cost of Rs.1,810 crores have been sanctioned as pilot projects in Supplementary WP 2018-19 for extensive trials for Automatic Train Protection (ATP) System.