Business & Economy Current Affairs 2017

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NALCO inaugurates its first wind power project

Government owned company National Aluminium Co Ltd (NALCO) has commissioned its first 50 MW wind power project at Gandikota in Kadapa district of Andhra Pradesh built with the cooperation of Suzlon at the cost of Rs 275 crore. The company will come up with its second 50 MW wind power project in Jaisalmer district of Rajasthan.

What is the status of wind power projects by PSU’s in the country?

PSU’s have so far set up around 1135 MW of wind power projects in the country, besides solar power projects of 27 MW.


Oil India, NTPC to be disinvested

In a move directed towards achieving the target of Rs.30,000 through disinvestment, the government has decided divest 10 % stake in Oil India and will also dispose of 9.5 % holding in NTPC in January and February 2013.

How much could it fetch?

The 10 % stake in Oil India could generate around Rs.2,700 crore at current market prices. The 9.5 % stake sale in National Thermal Power Corporation (NTPC) could fetch over Rs.12,000 crore for the exchequer. The government proposes to divest in NTPC through the Offer for Sale (auction) route.

In this fiscal, the government has so far managed to raise over Rs.6,900 crore through minority stake sales in PSUs.


Nestle wins trademark battle against Cadbury over KitKat design

image The world’s biggest food company Nestlé has won a legal battle against Cadbury over trademark four-fingered shape of KitKat.

The particular shape was registered as a trademark by the Swiss giant Nestlé. However, Cadbury opposed it by appealing against the application.

As per the latest verdict passed out by Board of Appeal at the EU’s Community Trade Mark Office, the trademark will be exclusively with Nestle and other rivals will be prohibited from producing similar bars of chocolate.