Current Affairs - Business

Adani Defence and Aerospace have announced a strategic cooperation agreement with the UAE-based EDGE Group, aiming to integrate their defence and aerospace capabilities. This partnership focuses on enhancing military capabilities through joint product development, research facilities, and technological advancements in the defence and aerospace sectors, emphasizing bilateral cooperation between India and the UAE on a global scale.

Adani Ports, in collaboration with Abu Dhabi Ports Group and East Harbour Terminals Ltd, has secured a 30-year concession agreement to operate and manage Container Terminal 2 at the Dar es Salaam Port in Tanzania. This agreement, signed with Tanzania, allows Adani Ports to take control of the terminal's operations, equipment, and manpower, further expanding its global port operations portfolio.

Adani Group has announced its intention to invest in wind energy projects in Sri Lanka, totalling over $1 billion. The investment will be directed towards establishing wind farms in Mannar and Pooneryn, with an added investment in infrastructure for electricity transmission.

Nvidia's remarkable surge in stock value has propelled it past Apple to claim the position of the world's second most valuable company. This significant shift reflects the growing dominance of Nvidia, particularly in the artificial intelligence chipmaking sector, and highlights its unprecedented market capitalization exceeding $3 trillion.

The National Company Law Tribunal (NCLT) has approved the merger of Air India and Vistara, paving the way for the formation of one of the world's largest airline groups. This merger, announced in November 2022, is a significant development in the aviation industry.