Business

New Delhi, Aug 31 (PTI) Billionaire Gautam Adani's Adani Group on Monday said it has reached an agreement to acquire GVK Group's shareholding and control of Mumbai airport.

Adani Airport Holdings has "entered into an agreement to acquire the debt of GVK Airport Developers," Adani Enterprise said in a regulatory filing.

GVK Group holds 50.50 per cent equity stake in Mumbai International Airport Limited (MIAL). The debt will be converted into equity.

The two firms did not give further financial details of the deal.

29 Aug 2020; MEMO: Turkey is determined to become a global production and technology center, the country’s president said on Saturday.

“We are committed to making Turkey, the center of three continents, a global production, and technology center, whether some people like it or not,” Recep Tayyip Erdogan said at the opening ceremony of the MESS Technology Center in Istanbul.

30 Aug 2020; MEMO: A former advisor to the Belgian prime minister said Turkey’s position on the Eastern Mediterranean is relevant.

“Turkey actually has a point,” Koert Debeuf said in a tweet.

He also shared a map highlighting territorial waters based on the agreement between Greece and Italy on the countries’ exclusive economic zones.

“Greek territorial waters are a bit out of proportion compared with the Turkish one," he added.

29 Aug 2020; AA: Turkey's foreign minister warned Greece on Saturday against doubling its territorial waters in the Ionian Sea from 6 to 12 nautical miles.

"They cannot extend it to 12 miles. The decision taken by our Assembly years ago is valid. This could cause war,” Mevlut Cavusoglu told news channel A Haber.

New Delhi, Aug 29 (PTI) Billionaire Mukesh Ambani's Reliance Industries on Saturday announced acquisition of Future Group for Rs 24,713 crore to bolster its fast growing retail business.

"Reliance Retail Ventures Ltd (RRVL), subsidiary of Reliance Industries, will acquire the retail and wholesale business and the logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lumpsum aggregate consideration of Rs 24,713 crore," the company said in a statement.

29 Aug 2020; MEMO: Qatari natural gas exports have recently grown in the global market, as the country has become one of the UK’s major gas exporters.

In a report, Scientect website revealed that Qatar is among the leading exporters of natural gas to the UK, which is considered to be the world’s eighth-largest gas importer.

Kuala Lumpur, Aug 29 (AP/PTI) Malaysia has extended its pandemic movement restrictions including a ban on foreign tourists until the end of the year.

Prime Minister Muhyiddin Yassin said in a televised address late Friday that global cases have been rising and the country has seen sporadic virus clusters even though the situation was under control.

Malaysia has recorded more than 9,000 cases with 125 deaths.

Washington, Aug 29 (PTI) Indian-origin Senator Kamala Harris, the Democratic Party's vice-presidential candidate, has pledged to rejoin the Paris climate agreement and re-enter the Iran nuclear deal to restore "our place in the world" and win back the "trust and support" of the US' Asian and European allies if her party wins the November presidential election.

Mumbai, Aug 28 (PTI) The country's foreign exchange reserves rose by USD 2.296 billion to reach USD 537.548 billion in the week to August 21, RBI data showed on Friday.

In the previous week ended August 14, the reserves had declined by USD 2.939 billion to USD 535.252 billion.

The forex kitty had increased by USD 3.623 billion to reach a record high of USD 538.191 billion in the week ended August 7.

28 Aug 2020; MEMO: The UN Educational, Scientific and Cultural Organisation (UNESCO) is planning two donor conferences to fundraise for efforts to rebuild Beirut after a massive explosion devastated the city on 4 August, Agence France Presse (AFP) reported.