Nestle to invest ₹5,000 crore in India

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⭐ Nestle to invest ₹5,000 crore in India 

World’s largest food company Nestle has announced plans to invest ₹5,000 crore in its Indian business over the next three years. The investment will be used to ramp up manufacturing units, expand R&D capabilities and build its brand. The company’s management also said they will explore opportunities for mergers and acquisitions.

⭐ BPCL signs pact for crude sourcing

State-run oil marketing firm Bharat Petroleum Corporation Ltd (BPCL) has signed a new agreement with Brazilian oil major Petrobras. The agreement will help BPCL to diversify its crude oil sourcing through long-term contracts. In addition, BPCL through its fully owned subsidiary, Bharat PetroResources Limited plans to invest $1.6 billion in an oil block in Brazil to procure oil overseas.. 

⭐PM Modi to launch 5G on 1 Oct

Prime Minister Narendra Modi is all set to inaugurate 5G services in India on 1 October 2022. The launch event will take place at India Mobile Congress (IMC), one of the largest telecom, media and technology forums. The event will be attended by management of major telecom firms like Reliance Jio, Bharti Airtel and Vodafone Idea. However, users may have to wait a bit more to experience 5G speed. Reliance Jio plans to roll out 5G services by Diwali across major metros, while other operators too have similar plans.

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Fact of the day

The inflation rate in Sri Lanka surged 70% in August as compared to the same period last year.

Source: BBC