Current Affairs - Business

Bharti Global, through its subsidiary Bharti Televentures UK Ltd, is acquiring a 24.5% stake in the British telecom company BT Group for approximately $4 billion. This strategic acquisition not only marks a significant expansion of Bharti’s global telecom presence but also strengthens economic ties between India and the UK. The deal, involving an initial 9.99% stake followed by regulatory approval for the remaining 14.51%, highlights the deepening relationship between Bharti and BT, which has been evolving since 1997.

Bharat Heavy Electricals Limited (BHEL) is set to demonstrate India's first methanol-fired gas turbine at NTPC's Kayamkulam Combined Cycle Power Plant. This initiative aims to address the issue of unutilized gas turbine sets due to a lack of natural gas and naphtha. The project will proceed in two phases, with technology support and commissioning provided by BHEL’s Hyderabad units. This move represents a significant step in utilizing alternative fuels and advancing India's energy technology capabilities.

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.