Current Affairs - Business

ADNOC and ExxonMobil are collaborating to build a low-carbon hydrogen facility, which will be the largest in the world. The facility will utilize natural gas to produce low-carbon hydrogen, significantly reducing CO2 emissions. ADNOC holds a 35% equity stake in the project, with operations expected to commence in 2029. This partnership demonstrates a commitment to developing sustainable energy solutions and reducing carbon footprint.

Bisleri International Pvt. Ltd. has partnered with the Goa government to enhance plastic waste management in Mormugao, under its CSR initiative 'Bottles for Change'. This collaboration was formalized at the Green Goa Summit 2024, with the aim of improving waste collection, segregation, and recycling processes. The initiative involves key stakeholders like the Goa State Pollution Control Board and Mormugao Municipal Council and focuses on educating the public, training staff, and establishing efficient recovery facilities to promote sustainable waste management.

Kaynes Semicon Pvt Ltd has received approval from the Union Cabinet to set up a semiconductor manufacturing unit in Sanand, Gujarat, marking a significant milestone in India's Semiconductor Mission. With an investment of approximately ₹3,300 crore, the plant will have a production capacity of 60 lakh chips per day, catering to various industries such as industrial, automotive, electric vehicles, consumer electronics, telecom, and mobile phones. This development underscores India's commitment to becoming a global hub for semiconductor manufacturing.

Tata AIA has initiated a significant move by launching its offshore branch at GIFT City, offering USD-denominated life insurance products specifically designed for Non-Resident Indians (NRIs). The first product, Life Protect Supreme, provides comprehensive coverage against risks such as death, disability, and critical illness, along with flexible plan options. This strategic launch by Tata AIA aims to cater to the growing demand for global insurance solutions among NRIs, with plans to introduce more products, including Unit Linked life insurance, that provide access to global equity markets.

Hero MotoCorp, a well-known motorcycle manufacturer, is planning to invest Rs 900 crore in Altigreen Propulsion Labs, a leading startup in India's electric 3-wheeler market. This strategic investment aims to enhance Hero MotoCorp's position in the growing electric vehicle sector, particularly in the last-mile delivery segment, where Altigreen's electric cargo 3-wheelers have already gained traction with over 5,000 units sold. This move highlights Hero MotoCorp's commitment to sustainable transportation solutions and its efforts to strengthen its competitiveness in the industry.