Current Affairs - Business

Gati Shakti Vishwavidyalaya (GSV) has commenced its first executive training program for the aviation sector in collaboration with Airbus. This three-day program focused on Safety Management Systems, is held at the Asian Institute of Transport Development in New Delhi and includes participants from leading airlines and international professionals, emphasizing the significance of industry collaboration in enhancing aviation safety standards.

The Tata Group has recently launched a significant semiconductor assembly and testing facility in Assam, with an investment of ₹27,000 crore. This facility is set to produce 15 billion chips annually and aims to create 27,000 job opportunities. It represents a crucial step in advancing India’s semiconductor industry and enhancing the region's role in the global electronics market. Tata Electronics, a part of the Tata Group, will lead this project, which is expected to contribute significantly to the technological and economic growth of Assam.

Boeing appointed Robert “Kelly” Ortberg as its new CEO on August 8, succeeding David Calhoun. Ortberg, previously the CEO of Rockwell Collins, takes over during a challenging period for Boeing, which is dealing with substantial financial losses, including a $1.4 billion loss in the second quarter, and various safety, production, and legal issues. His appointment is part of Boeing's effort to stabilize and recover from its current difficulties.

Reliance Industries Limited (RIL) advanced two positions to secure the 86th spot in the 2024 Fortune Global 500 list. This achievement marks the highest ranking ever attained by the conglomerate, reflecting its robust performance and strategic growth across various sectors. For the 21st consecutive year, RIL remains the highest-ranked Indian corporation in the list, highlighting its significant impact on both the Indian and global economies. The ranking is based on total revenues, with RIL reporting record-high consolidated revenues and a substantial rise in EBITDA for FY24.

Bharat Heavy Electricals Limited (BHEL) has been awarded a Rs 10,000 crore contract by Damodar Valley Corporation (DVC) for the Koderma Thermal Power Station Phase-II in Jharkhand. This significant project involves the supply and installation of major equipment, including boilers, turbines, generators, and associated systems. BHEL's involvement extends to civil works and commissioning, highlighting its key role in enhancing India's thermal power infrastructure and reinforcing its position as a leading player in the energy sector.