News From The Business World


India-Asian Development Bank Sign Loan Agreements

The Government of India and the ADB signed loan agreements for various projects in India, on November 16, 2018. The loans, worth USD 574 million, include projects like hydropower transmission in Himachal Pradesh, water and sanitation services in Tamil Nadu and support to IIFCL.


14 Lakh IT Jobs to be Generated in India by 2027

This was revealed in a study led by Cisco that was released on November 15, 2018. Cisco had commissioned International Data Corporation to prepare the study.


India-Abu Dhabi Sign MoU for Storing Crude Oil in India

The MoU was signed between Indian Strategic Petroleum Reserves Ltd. (ISPRL) and Abu Dhabi National Oil Company (ADNOC) at Abu Dhabi on November 12, 2018. The two are in talk for possible storage of ADNOC crude oil at the ISPRL underground oil storage facility in Padur, Karnataka.


Volkswagen to Deposit Rs. 100 Crore Penalty

National Green Tribunal (NGT) has taken into account the allegation that Volkswagen used cheat devices in the emission tests conducted on the company's diesel vehicles. While a bench will get into the estimate of environmental damage, the NGT has meanwhile directed the company to deposit an interim amount of Rs. 100 crore with the Central Pollution Control Board (CPCB).