Current Affairs - Business

Adani Ports and Special Economic Zone (APSEZ) has been upgraded by rating agency ICRA to AAA/Stable from AA+/Stable. This upgrade applies to the company’s long-term fund-based and non-fund-based facilities, non-convertible debentures (NCDs), and commercial papers. The announcement was made after market hours, with Adani Ports shares closing at Rs 1,491.95 on the NSE on July 18.

National Film Development Corporation (NFDC) and Netflix India have collaborated to launch "The Voicebox," a program aimed at training voice-over artists, with a special focus on multiple languages and prioritizing women. This initiative includes structured workshops, mentoring sessions, and opportunities to work on Netflix’s project "Azaadi ki Amrit Kahaniya." The program will be conducted in major cities and is supported by the Netflix Fund for Creative Equity.

On July 16, Elon Musk announced that he would relocate the headquarters of his social media platform X and his rocket manufacturer SpaceX from California to Texas. Musk cited a recent California law as a significant factor in his decision, which he described as "the final straw." SpaceX’s headquarters will move from Hawthorne, California, to Boca Chica, Texas, while X will move from San Francisco to Austin, Texas. This move reflects Musk's ongoing dissatisfaction with California's regulations and governance.

IndianOil has introduced STORM-X, a high-octane gasoline designed specifically for racing cars. Developed at IndianOil's R&D Centre in Faridabad and produced at Paradip Refinery, STORM-X includes advanced components like 2G Ethanol and meets FIA 2024 specifications. IndianOil has partnered with Madras Motor Sports Club to supply this fuel for the Indian National Racing Championship.

Essar Energy Transition (EET) is pioneering the establishment of Europe's inaugural hydrogen-ready combined heat and power (CHP) plant at the Stanlow refinery in Ellesmere Port, UK. This project is a part of Essar Energy Transition's extensive USD 3 billion energy transition initiatives in North West England, aiming for completion by 2027. The endeavour signifies Essar Energy's commitment to advancing sustainable energy solutions and reducing carbon footprint through innovative infrastructure development in the European region.