The United Kingdom on Friday announced a joint investment package with Tata Steel worth £1.25 billion (about $1.55 billion), including a government grant of £500 million ($621 million,) to secure the future of Port Talbot operations in Wales — the country’s largest steelworks — giving a fresh lease of life to the structurally weak business.

The joint investment package said to be the largest in the UK steel industry in decades would pave the way for greener steelmaking at the Welsh unit, by replacing coal-powered blast furnaces nearing the end of their effective life with a state-of-art 3 million tonne electric arc furnace (EAF).

India's second-largest software services exporter Infosys said it signed a $1.5 billion contract for a 15-year period with a "global company".

Under the deal, Infosys will provide enhanced digital experiences and business operation services, leveraging the company's platforms and artificial intelligence (AI) solutions, it said on Thursday.

The Finance Ministry has notified 31 benches of GST Appellate Tribunal (GSTAT) which will be set up in all states and Union Territories.

Setting up of state-level benches of GSTAT would help businesses by way of faster dispute resolution.

In his first public comments on the Sanatan Dharma controversy on Thursday, Prime Minister Narendra Modi urged the people to be alert to the “designs” of the INDIA bloc of parties to “destroy” Sanatan Dharma, and push the country into another “thousand years of slavery.”

The PM said Sanatan Dharma kept “Bharat” united for several millennia, asserting that Sanatan culture gave priority not to birth, but to a person’s karma.

The Oil India Limited (OIL), a state-owned company, plans to invest Rs 25,000 crore in renewable energy to achieve net zero emissions by 2040.

Ranjit Rath, chairman and managing director of Oil India Ltd (OIL), on Thursday said that the company will invest in green hydrogen, solar, geothermal energy, 2G ethanol plant, compressed biogas plants, and carbon capture utilisation and storage (CCUS), along with initiatives to eliminate flaring.

Shares of ITI Ltd rallied 7 per cent on Thursday to hit the highest level in over 25 years on the BSE. The stock touched Rs 212.45, its highest level since February 1994 on heavy volumes.

The average trading volumes on the counter nearly doubled with a combined 31.2 million equity shares, representing 3.2 per cent of total equity, having changed hands on the NSE and BSE.

Reserve Bank of India on Thursday said 15 large NBFCs, including LIC Housing Finance, Bajaj Finance, Shriram Finance and Tata Sons, will be subject to enhanced regulatory requirements.

The central bank has categorised NBFCs into Base Layer (NBFC-BL), Middle Layer (NBFC-ML), Upper Layer (NBFC-UL) and Top Layer (NBFC-TL).

In the wake of the Nipah outbreak in this north Kerala district, a holiday has been declared for all educational institutions here on Thursday and Friday.

The holiday was declared by Kozhikode District Collector A Geetha who in a Facebook post said educational institutions can arrange online classes on the two days for students.

IndusInd Bank on Thursday announced the launch of a "virtual commercial card", a credit card that will redefine cross-border transactions for corporates and travel agents, the company said in a press release.

In partnership with Visa, the global leader in digital payments and Juspay, a payments operating system, the virtual card has additional layers of security that give users complete control over their international expenses, thus making it safe and hassle-free.

Grasim Industries will launch its paint business under the brand name Birla Opus in the fourth quarter of the current financial year (Q4FY24). In a release on Thursday, the flagship company of the Aditya Birla Group said that it will offer a "full suite of high-quality products in the decorative paint segment".

A research and development (R&D) facility has already been set up in Maharashtra. Moreover, it has piloted its painting services in key metro cities, the company said.

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