Corporate News
FICCI FLO-Fest 2024 Begins with Creativity, Innovation
New Delhi: The two-day FICCI FLO-Fest 2024 kicked off in Delhi, bringing together businesswomen and creative minds. Day one featured “The Business of Creativity” panel discussion, with speakers like Roshni Vadhera, Sonam Kalra, Kalayani Soha, Karishma Monga, and Nainika Karan. A vibrant dance performance by the Kanpur chapter of FLO added excitement. FLO past president Malvika Rai spearheaded the event, supported by key members including Ritu Vadehra and Poonam Mahajan. Scenographer Rajeev Sethi highlighted AI’s role in creativity, while FLO President Joyshree Das Verma emphasized empowering women through innovation and leadership. The event celebrates the fusion of art, culture, and entrepreneurship.
Naresh Nayyar appointed to board of EET Fuels
Mumbai/Stanlow: EET Fuels (trading as Essar Oil UK) is pleased to announce Naresh Nayyar’s return to its Board of Directors as a Non-Executive Director, effective October 2, 2024. A seasoned leader in oil and gas, Naresh has steered multi-billion-dollar projects and led turnarounds in the sector. His career highlights include CEO and MD of Essar Oil Limited, CEO of Essar Energy Plc UK, and Director roles at Indian Oil Corporation and ONGC Mittal Energy. Naresh, a chartered accountant, also holds advanced financial management training from the University of Texas, Dallas, enhancing his industry expertise.
PFC Infra Finance IFSC Ltd to commence operations
New Delhi: PFC Infra Finance IFSC Limited (PIFIL), a wholly owned subsidiary of Power Finance Corporation (PFC), has received approval from the International Financial Services Centres Authority (IFSCA) to operate as a Finance Company in Gujarat’s GIFT City IFSC. PIFIL, part of India’s largest non-banking financial company (NBFC), will focus on power and infrastructure lending, offering foreign currency loans to both domestic and international clients. The company aims to strengthen India’s global financial presence. IFSCA Chairperson K Rajaraman congratulated PFC, highlighting its role in renewable financing, while PFC Chairperson Parminder Chopra emphasized PIFIL’s contribution to energy transition efforts.
Pralhad Joshi addressed ISA 7th assembly curtain raiser PC
New Delhi: The curtain raiser for the Seventh Session of the International Solar Alliance (ISA) Assembly was held on Wednesday in New Delhi, with representatives from 60 countries in attendance. Pralhad Joshi, Minister of New and Renewable Energy, emphasized ISA’s pivotal role in advancing global solar cooperation, with 120 Member and Signatory Countries. He highlighted solar energy’s potential in combating climate change and improving energy access. The session, co-chaired by India and France, will take place from November 3 to 6, 2024, focusing on accelerating solar deployment, green job creation, and sustainable infrastructure in underserved regions. Ajay Yadav, Joint Secretary, MNRE and Ajay Mathur, Director General of the International Solar Alliance also graced the occasion.
Gennet Lab, STL Sign MOU to Transform Health Sector
New Delhi: EET Gennet Lab Ltd., one of Estonia’s leading healthcare IT companies, has announced the signing of a Memorandum of Understanding (MOU) with India’s Sterlite Technologies Limited (STL), facilitated by the Estonian Embassy. Gennet CEO Egon Veermäe emphasized the importance of the partnership, which aims to transform hospital management systems through real-time data access, improved workflows, and patient outcomes. STL CEO Praveen Cherian expressed excitement about driving digital healthcare transformation. Estonia’s Ambassador, Her Excellency Ms. Marje Luup, and Gennet Lab India Director Dharmendra Singh also endorsed the collaboration, which aims to leverage STL’s expertise in digital infrastructure to support India’s healthcare goals.
POWERGRID buys 3 SPVs for RE Transmission Projects
Gurugram: On October 15, 2024, Power Grid Corporation of India Limited (POWERGRID) announced the acquisition of three Special Purpose Vehicles (SPVs) for executing Inter-State Transmission Projects aimed at facilitating renewable energy transmission. The acquired SPVs include South Olpad Transmission Limited and Jam Khambhaliya Transmission Limited from PFC Consulting Limited, and Rajasthan IV H1 Power Transmission Limited from REC Power Development & Consultancy Limited. The total project cost is estimated at ₹8,769 crores. These initiatives will enhance India’s transmission infrastructure, supporting the government’s goal of generating 500 GW of non-fossil energy capacity by 2030.
Suresh Kumar Khanna inaugurates IHGF Delhi Fair
Greater Noida: The 58th IHGF Delhi Fair was inaugurated on Wednesday by Suresh Khanna, Minister of Finance and Parliamentary Affairs, Govt. of UP, at the India Expo Centre & Mart, Greater Noida. This five-day event, organized by the Export Promotion Council for Handicrafts (EPCH), showcases over 3,000 exhibitors across 16 halls, highlighting various home, lifestyle, fashion, and furnishing segments. Dileep Baid, Chairman of EPCH, highlighted the fair’s role in fostering confidence among overseas buyers regarding the quality and marketability of Indian handicrafts. The event also features national award-winning master craftsmen, showcasing unique regional artisanal works, and will host seminars on market development and product design starting Thursday.
