Reliance Industries (RIL) and the Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) on Tuesday signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi.

The development acquires significance as it will focus on chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications. This is expected to unlock new revenue streams for RIL as well as the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, who are strategic partners in TA’ZIZ, a joint venture company.

Actlogica, a wealth and investment management platform, has raised Rs 3 crore in seed funding from Zerodha-backed Rainmatter Capital.

The husband-wife duo of Ameet Ayare and Archana Anoor founded Actlogica in 2015 to aid wealth managers and investment management professionals. Investment managers, to maintain their businesses, need the support of various tools. Not just to monitor and take evasive actions against market movements, but also to ensure they are compliant with regulations and, most importantly, to build a sustainable business.

The global coronavirus caseload has topped 510.1 million, while the deaths have surged to more than 6.22 million and vaccinations to over 11.24 billion, according to the Johns Hopkins University.

In its latest update on Tuesday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload and the death toll stood at 510,191,435 and 6,220,536, respectively, while the total number of vaccine doses administered increased to 11,246,449,964.

Delhi on Tuesday recorded a minimum temperature of 24.9 degrees Celsius, one notch above the normal, according to the India Meteorological Department.

The maximum temperature is expected to hover around 42 degrees Celsius.

Shares of Meghmani Finechem hit a record high of Rs 1,469.55 on rallying 14 per cent on the BSE in Tuesday’s intra-day trade. The stock has zoomed 28 per cent in the past two trading days after the company reported a robust operating and financial performance for March quarter (Q4FY22). In the past seven weeks, the stock of the specialty chemicals has zoomed 91 per cent from a level of Rs 771 on March 7, 2022.

In Q4, the company’s profit after tax (PAT) tripled to Rs 99 crore from Rs 33 crore in previous year quarter, on the back of strong sales.

India has bought more than twice as much crude oil from Russia in the two months since its invasion of Ukraine as it did in the whole of 2021, according to Reuters calculations, as Indian refiners snapped up discounted oil that others have shunned.

Refiners in India have placed orders for at least 40 million barrels of Russian oil since the invasion on Feb. 24, Reuters calculations based on information from crude tenders and traders show. The purchases are for loading in the June quarter.

20 months after announcing that it would buy Future Group’s retail, wholesale and logistics business for Rs 24,713 crore, Mukesh Ambani’s Reliance Industries on Sunday backed out of it.

Reliance said the deal cannot be implemented after the secured creditors of Future Group’s flagship firm Future Retail, which operates Big Bazaar and Easyday stores, voted against it.

Fintech major Paytm has appointed Srinivas Yanamandra as its Group Head – Regulatory affairs and Policy. He has over 20 years of experience in building compliance systems and processes at large and fast growing businesses.

Yanamandra’s last stint was New Development Bank in Shanghai, where he served as chief of the compliance division. Prior to that, he worked as a compliance professional — both at ICICI Bank and IDFC First Bank in Mumbai — focusing on various aspects of banking regulation including governance, risk management, prudential reporting, risk-based supervision, digital banking, and more.

Automaker MG Motor India on Monday said it has partnered with Bharat Petroleum Corporation Ltd (BPCL) to bolster EV charging infrastructure across the country.

The partnership with BPCL will add momentum to EV adoption by expanding opportunities for intercity travel as the two entities will install EV chargers across highways and within cities, the automaker said in a statement.

The commercial flight operations of Rakesh Jhunjhunwala-backed Akasa Air will be launched in July instead of June.

"As we get closer to the airline launch date, we can now confirm refined estimates on our timelines. We expect our first aircraft delivery by early June 2022, with the intention to start commercial operations in July 2022," Vinay Dube, CEO, Akasa Air, told PTI.

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