Current Affairs - Business

Adani Ports and Special Economic Zone Ltd (APSEZ) secured a 10-year marine services contract for Argentina’s first Liquefied Natural Gas (LNG) export project on June 8, 2026. The contract was awarded to Adani Harbour International FZCO, a subsidiary of APSEZ, along with Argentina-based Meridian Group. The project is located in the San Matias Gulf of Rio Negro Province and is expected to begin commercial operations in September 2027. The initiative is significant for strengthening energy cooperation between India and Argentina, with plans to support LNG exports of up to 10 million tonnes annually to India starting in 2027.

SoftBank sold a 3.25% stake in Lenskart through block deals valued at ₹2,873.3 crore. The transaction was carried out by SVF II Lightbulb (Cayman), an affiliate of SoftBank, involving the sale of 5.65 crore shares at ₹508.55 per share. Following the sale, SoftBank's ownership in Lenskart decreased from 13.13% to 9.88%. The deal generated an impressive seven-fold return on SoftBank's original investment made in 2021. Major institutional investors, including Goldman Sachs Bank Europe and Societe Generale-ODI, participated in the purchase, reflecting strong confidence in Lenskart's growth prospects and business performance.

Google entered into a major Cloud Service Agreement with SpaceX on June 5, 2026, to obtain computing capacity valued at $920 million per month. The contract is scheduled to run from October 2026 to June 2029 and includes access to approximately 110,000 NVIDIA GPUs, CPUs, and memory components. This infrastructure is intended to support Google's AI agent platform, Gemini Enterprise, by providing critical computing resources. The agreement highlights the growing demand for large-scale AI computing infrastructure and contributes significantly to SpaceX’s revenue from cloud and compute services, alongside other major technology partnerships.

Meesho partnered with the Bombay Stock Exchange (BSE) to launch Project Shikhar, an initiative aimed at supporting Micro, Small and Medium Enterprises (MSMEs) and digital-first businesses in accessing capital markets. The programme is designed to help high-performing e-commerce sellers transition from privately owned enterprises to publicly listed companies. Through guidance on compliance, corporate governance, regulatory preparedness, restructuring, and listing procedures, Project Shikhar seeks to simplify the public listing process. The initiative also promotes easier access to growth capital, enabling businesses to expand operations, improve transparency, strengthen governance standards, and enhance their credibility among investors and stakeholders.

Nibe Group entered into a joint venture with Israel’s Elbit Systems on May 25, 2026, to establish India’s first private propellant manufacturing facility in Shirdi, Maharashtra. The collaboration aims to strengthen India’s defence manufacturing ecosystem under the “Make in India” and “Atmanirbhar Bharat” initiatives. The facility will produce key materials such as nitrocellulose, nitroglycerine, and various types of propellants including single, double, and triple base variants. Elbit Systems will provide technical expertise, while Nibe Group will manage investment and operations. The plant is expected to support advanced defence production, including artillery systems, missile technologies, rocket systems, and autonomous defence platforms, enhancing India’s strategic self-reliance.