Adani Enterprises' subsidiary Kutch Copper (KCL) and Australian Securities Exchange-listed Caravel Minerals on Thursday signed a non-binding memorandum of understanding (MoU) for collaboration on the Caravel Copper Project in Western Australia's Murchison region, for an undisclosed amount, according to a joint statement.
The UK government on Sunday announced that it will support "iconic British brand" Jaguar Land Rover (JLR) with a loan guarantee of up to 1.5 billion pounds to give certainty to the Tata Motors owned carmaker's supply chain following a devastating cyber-attack. The loan will come from a commercial bank, backed by the Department for Business and Trade's (DBT) Export Development Guarantee (EDG), provided by export credit agency UK Export Finance, to be paid back over five years.
'Entering India is exciting, but it's also challenging. You have to be prepared for long-term investment.'
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
The board of directors of the Export-Import Bank, the official export-credit agency of the United States, has appointed Indian American entrepreneur and investor Frank F Islam, of McLean, Virginia, as a member of the Bank's Advisory Committee for 2010 to provide expert guidance of small business.
The Board of Directors of the Export-Import Bank, the official export-credit agency of the United States, has appointed Indian American entrepreneur and investor Frank F Islam, of McLean, Virginia, as a member of the Bank's Advisory Committee for 2010 to provide expert guidance of small business.
Export Development Canada has announced its $100 million participation in a 10-year $2 billion syndicated loan for Reliance Industries Limited.
Jet Airways, India's largest privately-owned airline, has approached the US Exim Bank and European export credit agencies to reschedule a $2 billion loan (Rs 10,000-crore) loan that was raised to buy 27 Boeing and eight Airbus aircraft.
The 12-year loan will part finance the proposed expansion of RIL's petrochemical plants and setting up of new gasification unit and refinery off-gas cracker over the next 2-3 years.
Work on a dozen decisions to start by next week.
Australia's federal and Queensland governments are eager to see the mine built following the loss of more than 4,000 coal jobs over the past two years, but analysts and project finance experts believe Adani may have underestimated the challenge of raising funds for the project.
This is a part of the company's plan to raise $13 billion debt to fund expansion of its petrochemical production capacity and gasification project for its refining facilities to improve margins.
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