ArcelorMittal along with its joint venture partner Nippon Steel signed a memorandum of understanding with the Odisha govt for setting up an integrated steel complex in the state’s Kendrapara district. The project will entail an investment of more than Rs50,000 crore with a capacity of produce 12 million tonnes of steel per annum (mtpa).

Indiabulls Housing Finance raised USD 150 million (Rs 1,091 crore) by issuing foreign currency convertible bonds. The securities issuance committee has approved the allotment of secured Foreign Currency Convertible Bonds (FCCBs) of USD 150 million, convertible into equity share of Rs 2 each. The bonds are proposed to be listed on Singapore Exchange Securities Trading Ltd.

The Automotive Component Manufacturers Association on Thursday requested the Haryana govt to revoke its law which mandates companies to recruit 75% of the total blue-collar workforce from the local population. The representative body of the auto component manufacturers said that it will dent the image of the state as a hub for automobile production and adversely impact the operations.

Etihad Airways on Thursday announced its operating losses of $1.7 billion in 2020, reflecting the severe toll of the coronavirus pandemic on the long-troubled airline that has lost billions in recent years. Etihad reported revenues of $2.7 billion in 2020 compared to $5.6 billion the year before, a precipitous decline attributed to “drastically fewer people travelling” during the pandemic.

Wipro Ltd announced on Thursday that it has signed an agreement to acquire management and technology consultancy firm Capco for $1.45 billion. The acquisition is expected to close in the quarter ending June. London-headquartered Capco provides digital, consulting, and technology services to financial institutions in the Americas, Europe, and the Asia Pacific.

Jet Airways bidders will have to apply for slots as there cannot be any deemed approval for the slots, according to submissions by the civil aviation ministry and regulator DGCA. The Ministry of Civil Aviation (MoCA) and DGCA mentioned their stance to the National Company Law Tribunal (NCLT), which had on February 25 sought their responses to Jet Airways’ slots issue.

Anna and Mizuki Nakajima (twin sisters) decided to take their seven-year-old mobile games startup- Coly Inc. public on Friday, and the stock doubled, the strongest market debut of 2021. As of Tuesday’s close, each sister’s 33.75% stake was worth 15.2 billion yen ($141.5 million). In both global gaming and Japanese business, Coly’s success and its 32-year-old executives created history.

The MTAR Technologies IPO was subscribed 10.27 times on Thursday, the second day of bidding. The offer received bids for 74.56 million equity shares against the IPO size of 7.26 million equity shares. The retail portion was subscribed 16.55 times and that of non-institutional investors 8.04 times. Qualified institutional buyers submitted 96% bids against the portion reserved for them.

Indian merchants almost stopped signing new export contracts with Iranian buyers for commodities such as rice, sugar and tea, due to caution about Tehran's dwindling rupee reserves with Indian banks. Iran's rupee reserves in India's UCO and IDBI Bank, the two lenders authorised to facilitate rupee trade, have depleted significantly and exporters are not sure whether they would be paid on time.

Women hosts listed on Airbnb India collectively earned over Rs 16 million in 2020, the company announced on March 4. Moreover, about 27% of all hosts who had signed up to the platform between March 2020 and February 2021 were women. Since the coronavirus pandemic struck, a total of 1,80,000 women globally began hosting with each only one listing, and these women earned over $600 million.

Max Healthcare, the country’s second-largest healthcare chain by revenues, has launched a qualified institutional placement (QIP) to raise around Rs 1,200 crore at a floor price of Rs 190.40 per share. In a disclosure to the exchanges, the company said it may at its absolute discretion, offer a discount of not more than 5 per cent of the floor price.

TCS emerged as a Leader in the IDC MarketScape for Worldwide Digital Finance and Accounting Business Process Services. The report analyzes 14 finance and accounting business process services providers, specifically looking at their digital capabilities to deliver F&A services including intelligent workflow or automation, robotic process automation, cloud/platforms, and blockchain.

AirAsia India has decided to shift its entire domestic flight operations in Mumbai to Terminal 1 effective 10 March. The Tata Group-controlled airline currently flies to Ahmedabad, Bhubaneswar, Bengaluru, Kolkata, Kochi, New Delhi, Guwahati, Goa, Hyderabad, Ranchi, Chennai, and Jaipur from Mumbai. Flights from terminal 1 of Mumbai's CSIA have been suspended since March 2020, due to the pandemic.

Torrent Power on Thursday announced Bombay HC has suspended the tender process where the company emerged as the highest bidder for acquiring stakes in Power Distribution Company. The power company highlighted that the tender process was for the acquisition of a 51% stake in Power Distribution Company for the Union Territories of Dadra & Nagar Haveli and Daman & Diu.

Honeywell Automation India Limited on Thursday (February 04) announced Ganesh Natarajan’s appointment as Independent Director (Non-Executive) and Chairman of its Board of Directors, effective March 8, 2021. As Chairman of the Board of Directors, Natarajan will offer guidance to HAIL’s management team on the company’s overall strategy, business, and financial matters.