ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion.

“ADB’s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country’s economic growth.” Michael Barrow, director-general of ADB’s Private Sector Operations Department, said: “ADB’s role as a direct lender and guarantee provider will enable Reliance Power to mobilize much needed long-term debt financing and will help in attracting new lenders to Bangladesh.”

There seems to be a trust deficit emerging between the Tamil Nadu government and Japanese automobile manufacturer Nissan. The state government fears that a faster payment of incentives to the car maker (Renault-Nissan Alliance India Private Ltd or RNAIPL) on its investments near Chennai might result in the company abandoning the project, curtailing the anticipated economic activity from this project.

The bone of contention is a business model change implemented by the company in April 2012 which, the government alleges, resulted in "unlawful gains" and boosted subsidies in the short term.

iPhone maker Apple has agreed to pay Ireland $15.46 billion in back taxes by early 2018.

ccording to Wall Street Journal, Irish Finance Minister Paschal Donohoe said on Monday that both sides agreed to the terms of an escrow fund for the money.

The Supreme Court on Tuesday will commence the final hearings in the long-standing Ayodhya dispute.

The first hearing is set a day before the 25th anniversary of the demolition of medieval-era mosque, Babri Masjid.

Activity in India's dominant services industry shrank in November as rising prices, driven up in part by the new national sales tax, took a toll on both foreign and domestic demand, a business survey showed on Tuesday.

November's Nikkei/IHS Markit Services Purchasing Managers' Index fell to 48.5 - its lowest since August - from 51.7 in October, well below the 50 mark that separates expansion from contraction.

Given the government’s inability to take tough decisions on privatising PSUs, it is not clear how it plans to take away various performing oil/gas fields from ONGC and give these away on a profit-share to various private oilcos—the one that promises the most output will likely win the bid and get a 60% share in these fields. These fields produce around a fourth of ONGC’s oil and gas output, so logically the PSU’s board has to oppose the move—unless the government can demonstrate to it that the increase in oil/gas will be so much after the fields are given to the private sector that ONGC stands to gain with even a lower equity share in the fields.

The benchmark BSE Sensex fell over 108 points in opening trade following a cautious stance adopted by participants ahead of the RBI policy review amid weak Asian cues.

The 30-share index fell by 108.10 points, or 0.32 per cent, to 32,761.62 as power, metal, infrastructure, capital goods, IT, teck, banking and auto stocks declined.

The Maharashtra government has declared a holiday for schools and colleges in Mumbai and adjoining districts on Tuesday due to "serious weather predictions" in view of Cyclone Ockhi.

An official at the Mumbai office of India Meteorological Department said on account of the cyclone, the megapolis has started receiving rainfall due to spread of clouds.

To push sales during the year-end period, automobile major Tata Motors on Monday said that it has launched a 'Mega Offer Max Celebration' sales offer.

According to the company, the offer provides an opportunity to customers "to drive home a Tata car at a down payment of Rs 1 and enjoy savings of up to 1 lakh, depending on the model and variant".

The department of telecommunications (DoT) would soon hear the pleas filed by leading telecom service providers Bharti Airtel, Idea Cellular and Vodafone India against the Telecom Regulatory Authority of India’s (Trai's) recommendation of October last year that a Rs 3,050-crore cumulative penalty be imposed on them for allegedly denying sufficient points of interconnection (PoIs) to Reliance Jio Infocomm, according to a news report in Livemint.

The telecom department had asked the operators to make their presentation by December 6. However, Bharti Airtel and Idea Cellular have raised a request to defer the meeting and Vodafone has not yet responded, according ot a senior DoT official quoted in the Livemint report.

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