Current Affairs - Business

Bharat Botanics has recently announced the upcoming opening of a state-of-the-art wood-pressed cold oil processing facility in Gondal, Rajkot, Gujarat. This 16,000 square feet automated facility is a one-of-a-kind establishment dedicated to promoting 100% cleanliness and transparency.

Sweden's Saab has received approval for 100% FDI to establish a new manufacturing facility in India, marking a significant milestone as the first foreign company to receive such approval in the country's defence sector.

Indian Oil Corporation (IOC), a state-owned company, has bought Mercator Petroleum Limited (MPL) for about Rs 148 crore in an insolvency proceeding. The National Company Law Tribunal (NCLT) approved the deal under the Insolvency and Bankruptcy Code, 2016.

Zurich Insurance Group, a Swiss-based insurance company, is set to acquire a 51% stake in Kotak General Insurance, an Indian general insurance company. This investment is a significant move in the Indian insurance industry, and it is expected to bring innovation and growth to the market.

Shiv Nadar, the founder of HCL Technologies, topped the Hurun India Philanthropy List 2023 for the fifth consecutive year. He and his family donated Rs 2,042 crore in the fiscal year 2022-23. Nadar is a renowned philanthropist and has donated generously to various causes, including education, healthcare, and arts and culture.