NEW DELHI INTERNATIONAL ARBITRATION CENTRE
Glean Technologies sets up India office, to invest up to $50 million
US-based Glean Technologies, which offers AI assistant platforms for businesses, has chosen to set up shop in Bengaluru, its first in India. The company plans to significantly expand its presence there, aiming to triple its staff to 450 within the next two years.
Canopy collapse: MoCA Naidu reviews operations at Delhi airport
Union Minister of Civil Aviation, Ram Mohan Naidu, visited the Airport Operations Control Centre (AOCC) at Delhi's Indira Gandhi International (IGI) airport on Monday. This visit comes just days after the collapse of the airport's canopy. The purpose of the visit was to assess airport operations.
India catching up with China, Vietnam on phone exports
India is rapidly narrowing the gap with China and Vietnam in mobile phone exports. In FY24, while mobile phone exports from China and Vietnam declined by 2.78% and 17.6% respectively, Indian exports surged by 40.5%, according to officials citing global trade data. India has captured nearly 50% of the reduction in mobile phone exports from these two countries, aligning with its objective of absorbing a significant portion of the supply chain shift from China.
Centre eyeing one startup in every district by next year
The government is optimistic about its plan to have at least one registered startup in all 785 districts of the country, industry department officials said. With only 20-25 districts remaining without a startup, the goal is expected to be achieved within a year.
Centre sanctions 1,700-personnel CISF contingent for Noida international airport
Amid construction delays, the Noida International Airport's operational debut is rescheduled to April 2025, impacting its readiness. The airport's security preparedness, overseen by CISF personnel, aligns with the stringent measures in place across India's civil airports. The revised timeline emphasizes meticulous planning for the airport's upcoming inauguration.
NIA charge sheet against 5 persons for trafficking Indian youths, coercing them into online fraud work
According to NIA investigations, the accused targeted Indian youths proficient in computers and English language, and coerced them into working in fraudulent call centres on tourist visa for pecuniary gains. The victims were being recruited, transported and transferred from India to the Golden Triangle SEZ in Lao PDR via Thailand, the NIA said.
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Centre gives third extension to AYUSH Secretary Vaidya Rajesh Kotecha
The Centre extends AYUSH Secretary Vaidya Rajesh Kotecha's tenure by one year, making it his third extension. The Appointments Committee of the Cabinet approves the extension. PM Modi to lead International Day of Yoga celebrations at SKICC in Srinagar on June 21.
Fashion & Apparel sector emerge front-runners in India's retail landscape: JLL
The report further says a positive outlook in the organised retail market is seen post COVID-19, the sector has witnessed a surge in the launching of new infrastructural development across urban centres and emerging cities. In the first quarter of 2024 (Jan-Mar) 1.1 million square feet of retail spaces were leased.
Indian Jain leader Lokesh Muni to establish world peace centre in US
Jain spiritual leader announces World Peace Center in New Jersey to promote global peace through peace ambassadors, mediation, and conflict resolution.
Need to ensure arbitration institutions are not controlled by "self-perpetrating clique": CJI
Speaking at the Supreme Court of the United Kingdom, Chandrachud said now is the time for countries such as India to step up to the occasion to create and promote a culture of commercial arbitration and the robust institutionalisation of arbitration will further the culture of arbitration in the Global South.
Supreme Court reconstitutes committee on gender sensitisation
The Supreme Court has reconstituted its Gender Sensitisation and Internal Complaints Committee, chaired by top court judge Hima Kohli, with members including Justice B V Nagarathna, Sukhda Pritam, Meenakshi Arora, and others.
21 international organisations write to CJI for speedy resolution of Adani coal imports case in SC
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
Manipur violence accounted for 97% of displacements in South Asia in 2023: Report
Conflict in South Asia in 2023 saw 69,000 displacements, primarily by the Manipur violence during the Tribal Solidarity March, sparking ethnic clashes and land disputes among the Meitei and Kuki communities.
Arbitration matters related to Chabahar port to be referred to tribunal in Muscat: Official
"Major concerns, including lack of consensus on an arbitral framework, have been addressed. As per the agreement signed on Monday, matters requiring arbitration with regard to operation of the Chabahar port, will be referred to a three-member arbitration tribunal based in Muscat in accordance with the Singapore International Arbitration Centre (SIAC)," the official said on condition of anonymity.
Russia-India ties will expand notwithstanding Delhi’s growing ties with other powers: Experts
India aims to enhance global ties under potential Modi 3.0 government, focusing on strengthening partnerships with Russia, US, and Europe. Experts predict a 2024 summit meeting between Indian PM and Russian President, emphasizing the strategic importance of these relationships.
Indian official meets Saudi Arabia's Vice Haj Minister, discusses logistical arrangements for pilgrims
Pardeshi held a meeting with Saudi Arabia's Vice Haj Minister Abdul Fattah Mashat and discussed logistical arrangements and infrastructure developments aimed at the welfare and comfort of pilgrims.
Go First revival chance fades as lenders, bidders spar on valuation
A Delhi High Court order on Friday allowing lessors to repossess their aircraft has further dented hopes of reviving Go First, they said. Ajay Singh, promoter of SpiceJet, and an entity owned by Nishant Pitti-owner of online travel portal EaseMyTrip had jointly bid for the airline. The second bid is from Sharjah-based Sky One.
Delhi Mayoral Polls: AAP councillor Narendra Kumar withdraws nomination for deputy mayor post at MCD
Rebel AAP councillor Narendra Kumar withdrew his nomination for Deputy Mayor of Municipal Corporation of Delhi days after self-nominating along with Vijay Kumar. AAP had already declared Mahesh Khichi as mayor and Ravinder Bhardwaj as deputy. Kumar denied party pressure, citing personal decision. The mayoral polls are set for April 26.
GIFT City bankers may follow global schedule, enjoy five-day work week
The working group said in its recommendations that a five-day work week will align with practices adopted in international financial centres and offshore units of Indian banks. "The government wants to position GIFT City as a major financial hub. All these steps are very important benchmarks for an aspiring international financial centre like GIFT IFSC," said another official.
Fat packages for tech interns; Google's search for data centre land
At IIT Mandi, 27 students have received stipends of Rs 1 lakh or more this year. In Bengaluru, RV College of Engineering has seen 39 students getting over Rs 1 lakh in monthly stipends compared to 8 last year. Around 30 students at Vellore Institute of Technology have also bagged Rs 1-lakh stipends, with companies like Couchbase and Amazon offering Rs 1.2 lakh and Rs 1.1 lakh, respectively.
GIFT City gets in pole position for F1 track
GIFT City in India is taking steps to develop a Formula 1 motor racing circuit and hopes to host the Olympics in 2036. Six teams of renowned race track designers are competing to design the circuit, which could cost up to Rs 10,000 crore.
Reliance Infrastructure can't sell, transfer assets worth $135 million, says Delhi HC
Delhi High Court restrains Reliance Infrastructure from selling assets worth $135.32 million in enforcement of arbitration award won by Shanghai Electric Group Co Ltd against the Anil Ambani firm. Division bench restrains RInfra from creating third-party rights on its assets. The awarded amount, interest, and costs are restricted to the amount prayed for in the petition.
R Systems International to help set up applied AI centre in IIT Delhi
R Systems International has signed a memorandum of understanding with IIT Delhi to establish a Centre of Excellence on Applied AI for Sustainable Systems. The centre will include a research lab, faculty chair position, and merit-based student scholarships. The partnership aims to push the boundaries in advanced AI research and innovation, with the aim of developing innovative approaches and cutting-edge AI techniques for sustainable computing.
Delhi to host meet on India’s pioneering role in shaping Asian identity through mobility
The International Research Division of the India International Centre (IIC) is convening an international conference, ‘Asia on the Move: Histories of Mobility and the Making of Asia’ on 22–24 February. This conference seeks to open up a new area in travel literature: journeys through Asia over the centuries, and the records of Asian travelers.
New plot: Zee, Sony launch legal war
Sony Group companies Culver Max Entertainment and Bangla Entertainment (BEPL) initiated arbitration proceedings against Zee Entertainment Enterprises before Singapore International Arbitration Centre (SIAC), while Zee, denying charges, approached National Company Law Tribunal (NCLT) in Mumbai, seeking directions that the merger scheme, previously approved by the forum, be implemented.
India's data centre capacity to cross 1GW mark in 2024
India's data center capacity in the top seven cities is expected to exceed one gigawatt by 2024, a three-fold increase in just four years. This trend is likely to intensify as 5G networks expand across the country, adding a record 230 megawatts of new capacity last year. The total colocation capacity in the top seven cities reached 884 MW in 2023, marking a 35% year-on-year increase.
Delhi High Court levies Rs 2 lakh fine on Ashneer Grover for violating its May order
"I am appalled to see the persistent violation of the court's orders," Justice Rekha Palli said while examining the social media posts by Grover against BharatPe. Though the judge accepted the apology tendered by Grover, she said it will be subject to a payment of ₹200,000 to the Delhi High Court Clerks Association.
Delhi HC seeks Gail’s response on ArcelorMittal’s plea for LNG supply
ArcelorMittal Nippon Steel India, a prominent steel manufacturer, has filed a petition with the Delhi High Court, seeking to halt GAIL (India) Ltd.'s termination notice for a 2022 agreement regarding liquefied natural gas (LNG) supply to its steel plant in Hazira, Gujarat.
Int'l transactions above ₹50,000 to come under further scrutiny
Every international transaction above ₹50,000 will be subject to closer scrutiny and a reporting entity will have to identify clients, verify their identity and also ascertain purpose of the business if not well defined. The latest rule also mandated reporting entities, which are part of a group, to have adequate safeguards on the confidentiality and use of information exchanged, including safeguards to prevent tipping-off.
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