Current Affairs - Business

The Union Cabinet approved a Bilateral Investment Treaty (BIT) with the United Arab Emirates (UAE) to enhance bilateral economic engagement, covering areas such as manufacturing and foreign direct investment (FDI).

Qatar has secured a 15-year LNG Sale and Purchase Agreement (SPA) with Bangladesh, enhancing energy ties. The agreement involves Excelerate Energy procuring up to one million tons per annum (MTPA) of LNG from QatarEnergy, with deliveries commencing in January 2026.

GAIL, India's leading gas company, has strengthened its LNG portfolio through a 10-year partnership with the United Arab Emirates (UAE) ADNOC Gas. The deal involves procuring 0.5 million tonnes of LNG annually, contributing significantly to meeting India's growing demand for natural gas.

Airbus and Tata are jointly working on establishing a helicopter manufacturing facility in India, emphasizing boosting indigenous manufacturing. This collaboration signifies Airbus's commitment to contributing to the country's aerospace sector growth, following their earlier establishment of a final assembly line for C295 military aircraft production in Gujarat.

Zomato Payments Private Limited, a subsidiary of Zomato, secured the payment aggregator license from the Reserve Bank of India, aligning with Zomato's strategy to reduce external dependency on payment apps.