Business

Editor’s Synopsis Ahmedabad, 12 May 2026: Adani Ports and Special Economic Zone Ltd. (APSEZ), India’s largest integrated transport utility, through its marine platform Astro Offshore, has contracted with Oceaneering International Inc., a US-based engineering and applied technology company, to pursue specialised offshore and subsea opportunities in Europe. The agreement marks a significant step in APSEZ’s expansion into ultra-deepwater operations and international markets, further supporting its strategy to build one of the world’s largest integrated marine platforms. For Astro Offshore, the…

Mumbai; May 2026: Government of India today (13th May 2026) have announced the conversion / switch of its securities through auction for an aggregate amount of Rs. 30,000 crore (face value). The security-wise details of the conversion/switch are given as under:   Date of Auction   Source Securities Amount (FV) of Source Securities (in Rs. Crore)   Destination Securities   6.79% GS 2027   6.67% GS 2035   (Maturing on May 15, 2027) 3,000 (Maturing on Dec 15, 2035)  …

New Delhi, May 2026 : The debate over work-from-home (WFH) arrangements in India’s technology sector has returned to the centre of policy discussion after industry employee bodies urged the Ministry of Labour and Employment to formally encourage remote working in digitally deliverable sectors. The renewed push comes in the backdrop of Prime Minister Narendra Modi’s recent appeal for citizens and organisations to adopt fuel-saving measures, including reduced travel and greater use of virtual work practices. The Nascent Information Technology Employees…

Rome, Italy; May 2026: The FAO Food Price Index (FFPI) is a measure of the monthly change in international prices of a basket of food commodities. It consists of the average of five commodity group price indices weighted by the average export shares of each of the groups over 2014-2016. The FAO Food Price Index (FFPI) averaged 130.7 points in April 2026, up 2.1 points (1.6%) from its revised March level, marking a third consecutive monthly increase, albeit at a…

Two major arbitration cases involving claims by concessionaires exceeding Rs. 8,375 crores and counterclaims by NHAI amounting to Rs. 2,888.64 crores were settled for a net amount of Rs. 819.96 crores in favour of NHAI. Safeguarding public funds in National Highway projects, NHAI has successfully defended two major arbitration cases related to the Panipat–Jalandhar section of NH-44. The disputes involved high-value claims raised by concessionaires against NHAI in connection with the execution and operation of the National Highway project. The…

Dr. Ashok Kumar Panda has assumed charge as Chairman & Managing Director of Steel Authority of India Limited (SAIL) on 09 May, 2026. Prior to this, he served as Director (Finance) of the Company and also held the additional charge of Director (Commercial) for about nine months during this period. Dr. Panda began his journey with SAIL as a Management Trainee (Technical) in 1992 after completing his B.E. in Electrical Engineering. Over the years, he has steadily risen to the…

Mr Gautam Adani, Chairman of the Adani Group, today said India’s Artificial Intelligence (AI) revolution must ultimately be measured by its ability to empower ordinary citizens, workers and small businesses across the country. Addressing the Confederation of Indian Industry (CII) Annual Business Summit 2026 in New Delhi, Mr Adani said India must reject the idea that AI should primarily be used to eliminate workers and automate livelihoods. “India must build AI as a force that expands productivity, creates jobs, empowers…

New Delhi, May 2026 : The board of Air India, backed by the Tata Group, has reportedly discussed a series of cost-cutting measures, including possible employee furloughs and the deferment of performance-linked bonuses, as the airline faces mounting financial pressure due to rising operational costs and ongoing geopolitical tensions in West Asia. According to multiple reports, the high-level board meeting was held at the airline’s headquarters in Gurugram and lasted for more than three hours. Discussions primarily focused on the…

San Francisco; May 2026: MNC Giant Apple today (06th May 2026) have agreed to pay US$ 250 million (S$319 million) to settle a class action lawsuit accusing it of misleading millions of iPhone buyers by falsely touting artificial intelligence capabilities for its Siri voice assistant in late 2024. Plaintiffs accused the California tech giant of having “promoted AI capabilities that did not exist at the time, do not exist now, and will not exist for two or more years” in…

New Delhi, May 2026 : In a significant move signalling long-term leadership continuity, Kiran Mazumdar-Shaw, founder and chairperson of Biocon, has formally identified her niece, Claire Mazumdar, as her eventual successor. The announcement marks a key milestone in the company’s succession planning, though the transition is expected to unfold gradually over time. Mazumdar-Shaw, one of India’s most prominent biotech pioneers, emphasised that as the primary owner of Biocon, it was crucial to ensure that the organisation’s future leadership remains capable…