Current Affairs - Business

ONGC Videsh Limited (OVL), a subsidiary of ONGC, recently acquired Norwegian firm Equinor’s stakes in Azerbaijan’s offshore Azeri Chirag Gunashli (ACG) oil field and the Baku-Tbilisi-Ceyhan (BTC) pipeline for $60 million. This acquisition increases OVL’s stake in the ACG oil field to 2.95% and in the BTC pipeline to 3.097%, highlighting OVL's strategic investment in international energy assets.

Airbus, in collaboration with Tata, is set to launch India's first H125 helicopter by 2026, with an initial production capacity of 10 units per year. This partnership supports India's Atmanirbhar Bharat initiative, aiming to bolster domestic manufacturing capabilities. Airbus is investing in the Indian aerospace market despite regulatory challenges and views India as a future leader in the commercial helicopter sector, comparable to the United States. This venture signifies a significant step in advancing India's aerospace industry and enhancing self-reliance in defence and aviation.

Bharti Airtel Ltd. was awarded the Taxnet 2.0 project by the Central Board of Direct Taxes (CBDT). This project is intended to provide advanced network connectivity, facility management services, and video conferencing services to the Income Tax Department. Bharti Airtel was selected through an open tender process, and Taxnet 2.0 will enhance the IT department's digital infrastructure by ensuring secure, reliable, and seamless connectivity. The project's key features include enhanced security, higher reliability, and seamless connectivity, all aimed at improving tax services for citizens and businesses.

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.