The Yamuna expressway industrial development authority (Yeida) on Tuesday said that the Uttar Pradesh government’s cabinet has approved a mega project related to the semiconductor manufacturing near Noida international airport. The authority will now allot land for this project.

The UP cabinet approved the establishment of semiconductor manufacturing units by Vamasundari (HCL Group) and Tarq (Hiranandani Group) near the airport site at Jewar on Monday in Lucknow, paving way for this mega project that will fuel the growth in this region, officials said.

The Indian Olympic Association (IOA) has submitted a ‘Letter of Intent’, expressing the country’s desire to host the 2036 Olympic and Paralympic Games, to the International Olympic Committee’s Future Host Commission, taking the first concrete step in an ambitious plan.

The letter was submitted on October 1, according to a source in the sports ministry.

“This monumental opportunity could bring substantial benefits, fostering economic growth, social progress, and youth empowerment across the country,” the source added.

Prime Minister Narendra Modi had first talked about his government’s aspiration to host the 2036 Olympics last year.

Public procurement portal Government e-Marketplace (GeM) on Monday said it has introduced 170 seed categories on the platform.

These seeds, it said, can be procured by central/state public sector units and other bodies for further dissemination across the country.

"The roll out of these new categories is a part of GeM's broader strategy to promote category based procurement through the portal," it added.

"We invite sellers to leverage these new seed categories and list their offerings to participate freely in government tenders. We also encourage seed corporations/state bodies to utilise these new categories for cost-effective procurement of quality seeds, Roli Khare, Deputy CEO, GeM, said.

In a Diwali bonanza for families of more than 6.5 percent lakh employees and pensioners of the state government, Punjab Chief Minister Bhagwant Singh Mann announced a hike of 4% in the Dearness Allowance (DA) for families of more than 6.5 lakh employees and pensioners of the state government.

On Wednesday, a spokesperson from the Chief Minister’s Office stated, “The Chief Minister approved a 4% DA increase for employees and pensioners, effective from November 1, 2024, raising it from 38% to 42%.” 

Mann emphasized, “This decision will benefit more than 6.5 lakh employees, pensioners, and their families. Employees are a critical segment of the state administration, and safeguarding their interests is the government’s top priority. No stone is being left unturned for this noble cause, and every effort is being made to ensure the welfare of employees.”

THDC India Limited announced on Monday that Unit#1 of the 1320 MW Khurja Super Thermal Power Project (KSTPP) has been successfully synchronized with the national grid. Additionally, coal firing has also been achieved within a few hours of oil synchronization.

THDC CMD RK Vishnoi praised the dedicated efforts of the KSTPP team, emphasizing that this achievement is a crucial step in expanding THDC's footprint in the thermal power domain, thereby contributing to India’s energy self-reliance.

“Synchronizing Unit#1 is not just a technical accomplishment; it symbolizes our commitment to bolstering India's power generation capacity,” said Vishnoi.

THDC Director (Technical) Bhupender Gupta highlighted the project's importance and mentioned that with this achievement, the Khurja Super Thermal Power Project will start playing a vital role in providing base load power, ensuring a continuous and reliable electricity supply, especially during peak demand periods and when renewable energy resources are variable.

India and Qatar on Tuesday held discussions to strengthen cooperation in combating money laundering and terrorism financing, focusing on advanced IT systems, strategic partnerships, and the role of virtual digital assets, according to the ministry of finance.

A nine-member Qatari delegation, led by Sheikh Ahmed Al Thani, head of Financial Intelligence Unit (FIU) Qatar, met with Vivek Aggarwal, head of FIU-India, to review current practices and explore areas for collaboration.

The discussions included the use of advanced IT systems, such as India’s Financial Intelligence Network (FINNET) 2.0, and innovative initiatives like FIU-India's Public-Private Partnership (FPAC) and Private-Private Partnership (ARIFAC) for Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT), the ministry said.

IDFC FIRST Bank has become the first Indian bank to offer real-time tracking for money sent abroad. This service, developed in partnership with Swift, is accessible through the bank's mobile app and internet banking platforms.

Chinmay Dhoble, Head of Retail Liabilities & Branch Banking, said, "With real-time tracking, we empower customers to monitor their cross-border transactions, enhancing convenience and satisfaction."

Kiran Shetty, CEO and Regional Head at Swift, said, “IDFC FIRST Bank is the first Indian bank to go live on GPI over APIs in South Asia. This enables near real-time tracking of payments for customers. Since launching GPI in 2017, our goal has been to improve customer experience in cross-border payments by increasing speed and transparency.”

Under the Reserve Bank of India’s Liberalised Remittance Scheme (LRS), resident individuals can send money abroad for various purposes, including education, medical expenses, and investments. Non-Resident Indians can also transfer funds from their NRO/NRE accounts through IDFC FIRST Bank.

India’s IREL (India) Limited and Kazakhstan’s Ust-Kamenogorsk Titanium and Magnesium Plant JSC (UKTMP JSC) signed an agreement to form a joint venture company, IREUK Titanium Limited, to establish titanium slag production in India. The agreement, signed by Dr. Deependra Singh, CMD, IREL, and Assem Mamutova, President, UKTMP JSC, aims to boost the titanium value chain in India and generate employment in Odisha.

The Indo-Kazakh joint venture will utilize IREL’s surplus Ilmenite from its Odisha operations to produce high-grade titanium feedstock, with UKTMP JSC providing technology and offtake agreements. “This joint venture will pave the way for Atmanirbharata in the field of titanium slag production,” said Dr. A.K. Mohanty, Secretary of the Department of Atomic Energy (DAE) and Chairman of the Atomic Energy Commission, who attended the signing ceremony.

RITES Limited has signed a Memorandum of Understanding (MoU) with SAIL's Bokaro Steel Plant (SAIL BSP) to collaborate for project management consultancy for rail connectivity works involving both existing and new railway tracks across various sites within the Bokaro Steel Plant in Jharkhand.

Under the MoU, RITES will provide comprehensive services, including surveying, engineering, project monitoring, supervision and quality control.

Leading public sector undertakings (PSUs) NTPC Limited and Oil and Natural Gas Corporation (ONGC) on Monday announced the formation of a 50:50 joint venture company (JVC) to further promote their interests in the renewable and new energy arena.

The JVC between the country’s largest power generating company and largest oil and gas producer has been formed through their green energy subsidiaries – NTPC Green Energy Ltd (NGEL) and ONGC Green Energy Ltd.

The new company will venture into various renewable energy and new energy opportunities including solar and wind energy, both onshore and offshore, and green molecules such as green hydrogen, green ammonia, sustainable aviation fuel (SAF), and green methanol.