India announced a $500 million line of credit to Mauritius as the two countries resolved to deepen ties in a range of areas including the maritime domain. The two countries also signed a maritime security agreement after extensive talks between Prime Minister Narendra Modi and his Mauritian counterpart Pravind Jugnauth.
The government has selected five merchant bankers, including Goldman Sachs and Citigroup, to manage the government’s 3 per cent stake sale in IOC (Indian Oil Corporation) which could fetch about Rs 6,000 crore to the exchequer. The other bankers who have been selected by the Department of Investment and Public Asset Management (DIPAM) for managing the stake sale are Deutsche Equities, SBI Capital Markets and ICICI Securities.
Apple opened its first Southeast Asia store in Singapore, drawing hundreds of excited fans to the swanky two-storey site in the city’s upmarket shopping district.
The Orange City (Nagpur) has become India’s first city to have electric mass mobility system. It will have a fleet of 200 electric vehicles including taxis, buses, e-rickshaw and autorickshaws, all of which will be fully owned by cab aggregator Ola.