Adani Increases Stake in Two Group Companies

The Gautam Adani-led promoter group has increased his stake in two of the conglomerate’s companies, Adani Enterprises and Adani Ports and Special Economic Zone. This move comes after the group has been hit by a number of damaging short seller reports. The Adani Group has been actively expanding its footprint across various sectors, and this latest development is seen as a reinforcement of its long-term vision.

India-Middle East-Europe Connectivity Corridor Unveiled at G20 Summit

A connectivity corridor linking India, the Middle East, and Europe was announced at the G20 summit by Prime Minister Narendra Modi and leaders from the US and Saudi Arabia. This corridor aims to enhance trade, commerce, and people-to-people ties among these regions, marking a significant step towards global integration. The initiative is expected to boost economic activities and foster stronger diplomatic relations.

ONGC Reports No Damage from Oil Spill Near Uran

Oil and Natural Gas Corporation (ONGC) has confirmed that there has been no damage due to an oil spill near Uran. The company said a small quantity of oil leaked from one of the crude oil storage tanks at ONGC Uran Plant on September 8. Given heavy rains, the leaked oil entered the stormwater drain channel, the company said. ONGC also said that its team team worked quickly to avoid the oil entering the sea and expects no damage to marine life.

RBI to Pilot Digital Rupee in Call Money Market by October

The Reserve Bank of India (RBI) is gearing up to initiate a pilot for the digital rupee in the call money market by October. This move is part of India’s broader strategy to embrace digital currencies and modernize its financial infrastructure. The pilot project will provide insights into the feasibility and implications of a central bank digital currency in the country.

India Proposes Investment Opportunity for Russia’s ‘Trapped’ Rupees

India has extended an offer to Russia, allowing it to invest billions in rupees it has piled up for exports. This proposal was highlighted by Russian Foreign Minister Sergei Lavrov and showcases India’s intent to strengthen bilateral economic ties with Russia. Larov said that India would suggest promising areas that can be invested in.