Software major Infosys would offer scalable services and solutions on demand to global enterprises on search engine's Google cloud platform, the IT major said on Saturday.

"We are partnering with Google to develop cloud transformation and migration services for enabling enterprises transform their businesses on scalable and on-demand model," said the city-based company in a statement.

Reliance Industries has permanently shut down its only oilfield (MA field) in the KG-D6 block on the back of dwindling output from the reserve. This was the company’s first foray into oil and gas exploration that began in September 2008 when the field started producing oil.

“The MA (D26) field in Block KG-DWN-98/3 (KGD6), which is being operated by RIL as an operator of the joint venture consisting of RIL (60 per cent), BP (30 per cent) and Niko (10 per cent)

Mumbai: The Ruias-controlled Essar Group is fighting off a challenge from a US-based hedge fund which is eyeing Essar’s assets in the UK, including the Stanlow oil refinery, to settle unpaid dues.

UK news website ITV said on Tuesday that investment firm Midtown Acquisitions LP, controlled by US-based hedge fund Davidson Kempner, is seeking a forced sale of Essar Global Fund Ltd’s (EGFL) shares in Essar Energy Ltd, which owns and runs the Stanlow refinery.

The Punjab government has approved a super critical thermal plant of 4,000 MW capacity for Rupnagar, state power minister G S Kangar said Friday.

Besides, a 60 MW biomass plant and a 100 MW solar plant are also coming up soon, he said. He sought to clarify that closure of 880 MW thermal units in Bathinda and Rupnagar by the government earlier would lead to dominance of private players in the power sector in times to come.

Hyundai’s three SUVs—Santa Fe, Nexo and Kona—have received silver awards in the automotive and transportation category at the global Industrial Design Society of America (IDSA) awards. The award selects winners of 20 categories, including automotive and transportation, consumer technology, and service design, based on standards such as design innovation, user experience and social responsibility.

The Reserve Bank Friday announced guidelines for co-origination of priority sector loans by banks and NBFCs with a view to enhancing flow of funds to the sector at competitive rates.

As per the norms issued by the RBI for all scheduled commercial banks (excluding Regional Rural Banks and Small Finance Banks) and Non-Banking Financial Companies - Non-Deposit taking- Systemically Important (NBFC-ND-SIs)

After several quarters of slow growth, IT major Wipro is seen to have regained the momentum with the clinching of the $1.6-billion Alight deal earlier this month.

The contract has not only cemented the position of its chief executive officer (CEO) Abidali Neemuchwala, it has also proven the ability of the current management to successfully chase and close larger deals that are becoming scarcer in the market.

The response to Jeff Bezos's announcement of a $2-billion fund to create preschools and help homeless families has been muted if not sceptical. Some critics say that Bezos should give raises to Amazon workers first. Others argue that he should be taxed instead and the revenue put toward education.

In a bid to tighten the noose around market offenders, the government has directed the Securities and Exchange Board of India (Sebi) to frame a policy on recovery proceedings.

The new rules could help the market regulator seize assets of violators even before a final judgment is passed by appellate bodies.

Digital currency worth around 6.7 billion yen (USD 60 million) has been stolen in Japan following a hacking attack, a virtual exchange operator said on Thursday. Osaka-based Tech Bureau, which operates virtual currency exchange Zaif, said its server had been illegally accessed and money transferred.

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