Category Archives: Business

Keonjhar Gets INR 1,900 Crore Infrastructure Boost from CM Majhi

Keonjhar, Apr 14 (BNP): Chief Minister Mohan Charan Majhi on Monday laid the foundation stone for infrastructure projects worth around ₹1,900 crore in Keonjhar district, including the long-awaited Barbil Bypass-cum-Ring Road project aimed at easing heavy traffic congestion in the mining belt.

The ₹1,581.21 crore bypass project is expected to significantly improve connectivity in the mineral-rich Barbil region, one of Odisha’s busiest freight corridors.

During his visit, the Chief Minister also inaugurated 24 completed projects worth ₹29.41 crore and laid the foundation for 51 new projects valued at ₹326.43 crore.

The proposed 18.3-km bypass-cum-ring road will have the capacity to handle around 40,000 passenger car units (PCUs) daily, compared to the current traffic volume of nearly 15,375 vehicles per day.

Officials said the project is designed to reduce congestion caused by heavy mining vehicles, cut travel time, lower transportation costs, and improve overall logistics efficiency in the region.

Majhi said the upgraded road network would help resolve long-standing traffic bottlenecks and support economic growth in Keonjhar and surrounding areas.

Blue Ridge by Motiaz Group Emerges as Zirakpur’s Fastest-Evolving Premium Residential Community with Over 70 Percent Delivered,

New Delhi, April 14: Motiaz Group proudly announces a significant construction and occupancy milestone at its premium residential development,Blue Ridge. With more than 70% of the project already delivered, the development is rapidly evolving into a vibrant, thriving community, with over 300 families already calling it home.

Spread across approximately 8 acres, Blue Ridge has been thoughtfully designed to offer a harmonious blend of modern living and open, green surroundings. Over 40% of the project area is dedicated to landscaped greens and open spaces, ensuring residents enjoy a serene and healthy lifestyle.

The project features 12 high-rise towers ranging from 9 to 11 floors, comprising around 472 premium residential units. Offering spacious 3 BHK and 3+1 BHK apartments, Blue Ridge caters to modern families seeking comfort, convenience, and elevated living standards. Homes are attractively priced starting from approximately ₹1.05 crore onwards.

Construction and possession progress across the development continues at a steady pace, with Towers 7 to 12 already handed over, Towers 5 and 6 witnessing active move-ins by families, and Towers 1 to 4 in the final stages and nearing possession.

Residents at Blue Ridge enjoy a host of premium amenities, including a fully equipped clubhouse, swimming pool, yoga center, and modern gymnasium. The development also prioritizes safety and security, featuring boom barrier entry points along with a robust three-tier security system.

Commenting on the milestone, Mukul Bansal, Director at Motiaz Group, said:

“Blue Ridge reflects our commitment to delivering high-quality homes on time while creating a complete lifestyle ecosystem. With a majority of the project already delivered and families actively living here, we are proud to see a strong community taking shape. Our focus remains on ensuring timely possession of the remaining towers while maintaining the highest standards of construction and amenities.”

With strong progress and growing occupancy, Blue Ridge continues to set new benchmarks for premium residential living in Zirakpur.

Adani Green Secures 87.3 ESG Score, Best in India

New Delhi, Apr 14 (BNP): Adani Green Energy Limited has secured the highest ESG score of 87.3 among Indian companies assessed by CareEdge-ESG, earning an “ESG 1+” rating and strengthening its position in sustainability performance.

The rating highlights the company’s strong performance across key environmental, social and governance parameters, reflecting robust climate strategy, governance practices, and transparency in disclosures.

CareEdge-ESG stated that its assessment is based on a comprehensive review of ESG risks and opportunities, benchmarked against industry peers.

The agency noted that AGEL’s sustainability approach is supported by structured policies and the integration of ESG principles across its renewable energy operations.

The recognition is expected to enhance investor confidence, especially as ESG performance increasingly influences access to green and transition-linked financing.

Company officials said the rating validates its long-term focus on sustainable growth and climate-aligned investments across its renewable energy portfolio.

Reliance to Join Landmark US Refinery Project, Trump Calls It ‘Historic Deal’

Mumbai/Washington, Apr 14 (BNP): In a major development in the global energy sector, Reliance Industries Limited, led by billionaire industrialist Mukesh Ambani, is set to participate in the development of what could become the first major new oil refinery built in the United States in nearly five decades.

The announcement was made by US President Donald Trump, who described the initiative as the “largest refinery deal in US history” in a post on the social media platform Truth Social. While the project developer, America First Refining (AFR), did not officially name its partner, Trump identified Reliance Industries as a key participant, calling it a “historic $300 billion deal.”

The refinery is planned at the Port of Brownsville in Texas and will be designed to process light crude derived entirely from US shale oil. The project reflects the significant transformation in America’s energy landscape driven by shale production over the past decade.

According to AFR, the international partner has committed substantial investment and entered into a long-term commercial arrangement linked to the refinery’s output. A binding 20-year off-take agreement has reportedly been signed, under which the partner will purchase and distribute fuels produced at the facility.

Groundbreaking for the refinery is expected in the second quarter of 2026. Industry analysts estimate the project could require a capital expenditure of around $4–5 billion, although official financial details and timelines are yet to be disclosed.

Reliance Industries has not yet issued an official statement regarding its involvement. However, the potential investment underscores the company’s strategic push to expand its global energy footprint and strengthen its position in international refining and petrochemical markets.

India Poised to Become One of the World’s Largest Hotel Markets

Apr 14 (BNP): India is set to emerge as one of the biggest hotel markets in the world, supported by strong growth in travel and tourism across the country.

The hospitality sector is expanding steadily due to rising domestic travel, increasing business activity, and a growing number of international visitors. Demand for hotels is rising in major cities as well as smaller towns.

Experts say better transport facilities, improved airport connectivity, and a growing middle-class population are helping drive this growth. Many hotel companies are also opening new properties in both metro and emerging destinations.

With continued investment and development, India is expected to become a leading global hub for the hotel industry in the coming years.

AD Ports Group Signs Framework Agreement to Explore Investment and Development Opportunities in the Port of Constanța, Romania

Abu Dhabi, UAE – 14 April 2026: AD Ports Group (ADX: ADPORTS), a leading global enabler of trade, industry and logistics solutions, signed a framework agreement with the National Company Maritime Ports Administration SA, the administrator of the Port of Constanța in Romania to explore strategic investment and development opportunities in the Black Sea’s largest port.

The agreement establishes a platform for collaboration across areas of mutual interest, including greenfield and brownfield port development, deployment of advanced digital solutions, and the advancement of sustainability-driven initiatives centred on renewable energy adoption, efficient waste management and emissions reduction, reinforcing long-term resilience and responsible growth. 

Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group, said: “This agreement provides a framework for dialogue and cooperation with the Port of Constanța, one of the most strategically significant maritime hubs in the Black Sea region. Guided by the vision of our wise leadership in the UAE, we look forward to exploring opportunities that further strengthen the Group’s presence along the Middle Corridor, while supporting our Romanian partners in unlocking sustainable economic growth through enhanced connectivity and trade.’’

Located at the eastern edge of Europe, the Port of Constanța is a major trade gateway on the Black Sea and one of the largest ports in Europe. In 2025, it handled 88 million tonnes of liquid, dry, and general cargo, in addition to 1 million TEUs containers approximately.

Positioned at the mouth of the Danube–Black Sea Canal, the port provides a vital maritime link between the Black Sea shipping routes and inland waterways serving Eastern and Central Europe. As a fully integrated multimodal hub, connecting sea, rail, road, and river networks, Constanța plays a pivotal role in facilitating regional and international trade flows, including significant volumes of agri-products such as grains and cereals from Eastern Europe and Central Asia.

Over the past four years, AD Ports Group has made strategic investments across Central Asia and Pakistan to help reactivate the Middle Corridor, a commercially viable, lower-impact trade route connecting China and Europe along the historic Silk Road.

In 2025, the Group launched the Gulf Link logistics joint venture with KTZ Express, the freight unit of Kazakhstan Railways; inaugurated an intermodal logistics hub in Tbilisi, Georgia; and partnered with SEMURG Invest LLP, to develop a grain terminal at Kazakhstan’s Kuryk Port on the Caspian Sea.

Since 2022, through joint ventures with Kazakhstan’s national oil and shipping companies, KMG and KTMF, the Group has deployed tanker vessels to transport Kazakh oil across the Caspian Sea to Azerbaijan, linking into western pipeline networks. In December 2025, it further expanded its regional footprint by partnering with Avesto Group in Tajikistan to establish an integrated logistics and freight forwarding joint venture.

India Resilient but Oil Shock May Slow Growth: S&P

New Delhi, Apr 14 (BNP): India’s solid macroeconomic and financial sector fundamentals are expected to soften the blow from a sustained rise in global crude oil prices, even though higher energy costs could weigh on overall economic growth, according to S&P Global Ratings.

 Pic Credit: Pexel

Under a stress scenario where Brent crude averages around USD 130 per barrel in 2026, India’s GDP growth could be lower by as much as 80 basis points, the rating agency said.

S&P Global Ratings added that corporate profitability would also come under pressure in such a scenario, with earnings before interest, tax, depreciation and amortisation (EBITDA) expected to fall by 15–25 per cent in FY27, while leverage could rise by 0.5–1.0 times.

The agency further cautioned that banking sector asset quality may weaken under prolonged stress, with gross non-performing assets potentially rising to about 3.5 per cent.

Fuel Price Freeze Deepens Losses for OMCs as Under Recoveries Surge

New Delhi, Apr 14 (BNP): India’s oil marketing companies (OMCs) are reportedly facing significant under-recoveries on fuel sales as retail prices remain unchanged despite elevated global crude oil costs.

Industry estimates indicate that OMCs are currently incurring losses of around ₹18 per litre on petrol and nearly ₹35 per litre on diesel. These losses stem from the gap between stagnant retail prices and higher international crude and refining costs.

The price freeze has been maintained to protect consumers from sharp fluctuations in global energy markets. However, sustained volatility in crude oil prices continues to pressure the margins of fuel retailers, intensifying financial stress across the sector.

Gold ETF Inflows Jump to INR 31,561 Crore in March Quarter Amid Global Uncertainty

Mumbai, Apr 14 (BNP): Investments in Gold Exchange Traded Funds (ETFs) saw a sharp rise in the March 2026 quarter, as investors turned to gold for safety amid global uncertainty.

 Pic Credit: Pexel

Net inflows into Gold ETFs stood at ₹31,561 crore, nearly six times higher than the same period last year. On a quarterly basis, inflows also rose by about 36%, showing continued demand for gold-backed investments.

Market experts say investors preferred gold during the period due to geopolitical tensions and volatility in financial markets, which boosted its appeal as a safe-haven asset.

Along with higher inflows, the overall size of gold ETF investments and the number of investor accounts also increased during the quarter, indicating growing participation in this segment.

SPEXA 2026: Bringing Global Space Leaders Together to Unlock New Business Horizons