Foxconn Technology Group is teaming up with STMicroelectronics NV for a bid to build a semiconductor factory in India, seeking state backing to broaden its footprint in the South Asian country.

Taiwan’s Foxconn and Franco-Italian STMicro are applying for state support for a 40-nanometer chip plant, people familiar with the matter said, asking not to be identified as the plan isn’t public. Such mature chips are used in cars, cameras, printers and a wide variety of other machines.

Leaders of the USA, India, Saudi Arabia and the United Arab Emirates are likely to announce a major joint infrastructure deal on Saturday to connect Gulf and Arab countries via a network of railways, US-based news website Axios reported on Thursday, citing sources.

The deal will also connect the rail network to India through shipping lanes from ports in the Gulf region.

Shares of Tejas Networks rallied 4.7 per cent to hit a new high at Rs 935 on the BSE in Friday's trade after the company said it received Rs 750 crore for the BSNL project.

At 09:42 AM, the stock had pared some gains and was up 1.5 per cent at RS 907. The counter saw trades of around 30,000 shares on the BSE as against the two-week average volume of around 72,000 shares. Meanwhile, the S&P BSE Sensex was up 0.3 per cent at 66,471.

India’s HCLTech has signed a multiyear agreement with Siemens AG to provide the German high-tech giant with cloud services and modernise its information technology (IT) systems worldwide.

HCLTech said on Thursday the deal will focus on automating the public cloud environment for Siemens. Financial details of the deal were not disclosed.

Engineering conglomerate Larsen & Toubro (L&T) has secured a multi-billion-dollar contract from Saudi Aramco, according to informed sources. A West Asian business intelligence website estimated the total value of the order at $3.9 billion.

According to MEED (formerly Middle East Economic Digest), L&T is one of the three contractors to win different packages for Saudi Aramco’s $10 billion expansion at its Jafurah unconventional gas production project in Saudi Arabia.

Shares of Transformers and Rectifiers (India) surged 20 per cent to hit a new high of Rs 151.4 on the BSE in Friday’s intra-day trade amid heavy volumes after the company announced fund raising plans.

In past two trading days, the stock the electrical equipment company has zoomed 27 per cent. A combined around 2.7 million equity shares changed hands on the NSE and BSE till 09:19 AM today.

Prime Minister Narendra Modi who arrived in Indonesia early Thursday morning said that it is an "honour" for him to co-chair the Association of Southeast Asian Nations (ASEAN)-India summit.

In his address, PM Modi congratulated Indonesian President Joko Widodo for organising the Summit and said, "Our partnership has reached the fourth decade. It is an honour for me to co-chair this Summit. I want to congratulate Indonesian President Joko Widodo for organising this Summit..."

Amid uproar over the Centre's 'One Nation, One Election' concept of holding simultaneous elections for Lok Sabha and state assemblies across the country, Chief Election Commissioner Rajiv Kumar on Wednesday said that the Commission is ready to conduct elections as per legal provisions.

"According to the legal procedures, the Constitution and RP Act, we have the mandate to conduct the election and we are ready," Kumar said while responding to the reporters on 'One Nation, One Election, in a press conference held on the preparations for the upcoming Assembly elections in Madhya Pradesh.

Six of the eight public funds alleged to have been used by people with ties to the Adani Group to buy shares of the conglomerate's listed companies have been shut, Mint reported on Wednesday citing regulatory filings. These funds were based in Bermuda and Mauritius.

The report added that the closure of these funds posed a challenge for the Securities and Exchange Board of India (Sebi) to reach the ultimate beneficiaries of these vehicles.

The Ukraine war will be in ‘everybody’s mind’ and be the main topic of discussion, a senior European Union (EU) official said ahead of the Group of 20 (G20) Leaders’ Summit scheduled over the weekend.

And you'll see this and it's not only for Europeans…you'll see it on the agenda with one theme of the motto of the Indian presidency for each session.

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