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  • Singapore, Saudi companies push Indian solar tariffs to record low

    The Indian units of Singapore-based Sembcorp Industries Ltd and Saudi Arabia-based Aljomaih Holding Co won government auctions to sell solar power for a record low of 2 rupees ($0.0270) per kilo watt hour (kWh), sources said.

  • COVID-19: Saudi Arabia curbs arrivals from India, Brazil and Argentina

    Passengers from India, Brazil and Argentina arriving in Saudi Arabia must have stayed for at least 14 days at a third destination, according to a Saudi media report. Arrivals from the three countries are not allowed to enter the kingdom unless they have spent at least 14 days beforehand outside those countries, Ajel news portal reported, citing the Saudi national carrier Saudia.

  • Saudi, UAE Sovereigns Make Fresh Billion-Dollar Push Into India’s “New Oil”

    Middle East sovereign wealth funds have continually raised their exposure to Indian telecom infrastructure assets in recent months. In June, PIF announced that it was investing $1.5 billion for a 2.3 percent equity stake in Jio Platforms, a wholly owned Reliance Industries subsidiary and India’s leading digital services platform, which has in recent months drawn billion-dollar stakes from U.S. firms including Facebook and private equity investor Silver Lake.

  • Saudi Arabia’s PIF Continues to Invest in Indian Companies

    Saudi Arabia’s Public Investment Fund (PIF) is continuing to focus on acquisitions in the Indian private sector. It recently invested $500 million (SAR 1.88 billion) in the Digital Fiber Infrastructure Trust (DFIT).

  • India criticises Saudi Arabia for wrong map on banknote, asks it to make urgent correction

    India has responded sternly to any misrepresentation of its territory. Last week, the Centre wrote a letter to Twitter Chief Executive Officer Jack Dorsey after the social media platform’s location settings showed Leh as a part of China. The government had asked Twitter to respect “sensitivities of Indian citizens”. On October 18, Twitter had also shown Jammu and Kashmir as a part of China during a live broadcast by journalist Nitin Gokhale.

  • India moving ‘cautiously’ on oil refiner BPCL’s privatisation- minister

    India is “treading very cautiously” in its plan to privatise state-run oil refiner Bharat Petroleum Corp Ltd, Oil Minister Dharmendra Pradhan said on Tuesday, in a sign that the process could be delayed. New Delhi’s plan to sell its 53.29% stake in BPCL was first announced in November 2019, and is part of a broader programme to spin off or sell stakes in dozens of state-owned companies. India had planned to sell the stake by the end of the fiscal year to March 2021.

  • Saudi Arabia Suspends Flights To And From India Amid Surge In COVID-19 Cases: Report

    In a circular issued on Tuesday, Saudi Arabia's General Authority of Civil Aviation (GACA) said it was "suspending travel to and from the following countries: (India, Brazil and Argentina) including any person who has been in any of the mentioned countries above in the last 14 days prior to their arrival to the Kingdom".

  • Middle East funds eye stakes in retail arm of India’s Reliance, FT reports

    Middle East sovereign wealth funds, including the Abu Dhabi Investment Authority (ADIA) and Saudi Arabia’s Public Investment Fund (PIF), are in talks to buy stakes in the retail arm of Indian billionaire Mukesh Ambani’s Reliance Industries Ltd, the Financial Times reported on Wednesday. ADIA is in discussions to invest about $750 million at a valuation of roughly $57 billion, while PIF could funnel as much as $1.5 billion into Reliance Retail, the FT said, citing people familiar with the matter.

  • Saudi Aramco continues to explore India investment plan

    India’s Ministry of Petroleum and Natural Gas recently notified liberalised guidelines for bulk and retail marketing of petrol and diesel, offering new opportunities for foreign oil companies, including those in the Gulf, to enter this lucrative energy business.

  • Saudi Aramco still eyes $15bn stake in India’s Reliance

    A deal with Reliance would help the world’s biggest crude exporter join the ranks of the top oil refiners and chemical makers. State-owned Aramco is already a major supplier of crude to India, while Reliance sells petroleum products, including gasoline, to the kingdom.