Kuala Lumpur: PTT Exploration and Production Public Company Limited (PTTEP) has reached the Final Investment Decision (FID) for the Malaysia SK405B Project, marking the company’s first greenfield development project in the country. The move is aimed at strengthening its long-term growth and expanding its presence in Malaysia’s energy sector. According to PTTEP Chief Executive Officer Montri Rawanchaikul, PTTEP Sarawak Oil Limited, a subsidiary of the company and operator of the SK405B Production Sharing Contract, has approved the development of the Sirung and Chenda fields located offs
The Uttar Pradesh government has announced plans to acquire 1,000 acres of prime industrial land in Gautam Buddha Nagar district to develop dedicated investment enclaves for corporations from Singapore and Japan. The land, to be acquired by the Yamuna Expressway Industrial Development Authority (YEIDA) near the upcoming Noida International Airport, will be used to create two exclusive zones, a 500-acre “Singapore City” and a 500-acre “Japan City” targeted at global manufacturing and logistics players. A senior state official said each enclave will cater to investors from its respe
On the first day of his visit to Singapore, Uttar Pradesh Chief Minister Yogi Adityanath secured three memoranda of understanding worth Rs 6,650 crore with Universal Success Group for investments in group housing, a logistics park and a hyperscale data centre in the state, officials said on Monday. According to the state government, the proposed projects are expected to generate more than 20,000 jobs and further strengthen Uttar Pradesh’s industrial and urban infrastructure. The chief minister briefed investors on policy stability, improving connectivity and the state’s rapidly expandi
Trading houses and buyers of Venezuelan crude oil are chartering very large crude carriers (VLCCs) for the first time since a new Caracas-Washington supply deal began, a development expected to boost deliveries to India. VLCCs are among the largest tankers in the world, with a capacity of up to 2 million barrels per voyage, and their use can significantly reduce transportation costs and speed up shipments compared with smaller tankers. According to shipping data and sources, at least three VLCCs, Nissos Kea, Nissos Kythnos and Arzanah, chartered by trading firms Vitol and Trafigura h
India and the Gulf Cooperation Council (GCC) on Tuesday formally launched negotiations for a comprehensive Free Trade Agreement (FTA) by signing a joint statement, marking a major milestone in their economic partnership. Union Commerce and Industry Minister Piyush Goyal and GCC Secretary General Jasem Mohamed Al Budaiwi endorsed the agreement to begin talks. Announcing the development on X, Goyal said the signing builds on the Terms of Reference finalised on February 5, 2026, and formally initiates negotiations for a broad-based and mutually beneficial pact. He described the move as a s
India’s state-owned refiners Indian Oil Corporation and Hindustan Petroleum Corporation have jointly agreed to buy 2 million barrels of Venezuelan Merey crude oil for delivery in the second half of April. The cargo will be loaded on a single very large crude carrier (VLCC), with IOC taking about 1.5 million barrels and HPCL about 500,000 barrels, and is expected to arrive on India’s east coast. The seller in the deal was the trading firm Trafigura. This move is part of a broader strategy by Indian refiners to diversify oil import sources, including a shift away from heavy reliance on R
India’s electronics exports have surged 47 % to $12.41 billion in the first quarter of the current fiscal, underscoring the country’s rapid emergence as a global manufacturing hub. According to the Ministry of Commerce and Industry, the United States, the UAE, and China were the top three export destinations for India’s electronics shipments during the April–June quarter. The Netherlands and Germany also featured among key markets. This broad geographical spread reflects India’s deeper integration into global electronics supply chains and its growing credibility as an alternative
Union Minister of Commerce and Industry Piyush Goyal asserted that quality must define India’s manufacturing and export ecosystem, aligning the “zero defect, zero effect” vision of Prime Minister Narendra Modi with the broader goal of Viksit Bharat 2047. Addressing the first National Quality Conclave virtually, he said India’s ambition to become a $30–35 trillion economy by 2047 rests on three pillars: quality, sustainability, and inclusivity. Organised by the Department for Promotion of Industry and Internal Trade in partnership with the Quality Council of India, the Conclave fo
In a significant boost to Bihar’s agri-exports, five tonnes of premium Mithila makhana have been shipped to a Chinese company, opening a new chapter in the state’s global trade footprint. The consignment was dispatched through the International Cooperative Development Council in Patna and flagged off by Agriculture Minister Ram Kripal Yadav. Officials termed it a proud milestone for farmers and fishermen across north Bihar, where makhana is traditionally cultivated in ponds and wetlands. The export was facilitated by the Bihar State Fishermen’s Cooperative Federation (COFFED), which
Piyush Goyal addressed the plenary session of the India–Brazil Business Forum in New Delhi, underscoring the expanding economic partnership between the two countries. Noting that bilateral trade grew 25 per cent in the past year to reach USD 15 billion, he described the figure as below potential. He called for greater ambition in scaling up economic engagement. Referring to the higher benchmarks set by Luiz Inácio Lula da Silva and Narendra Modi, he said both nations can “grow faster, grow bigger and grow together” for shared prosperity. Describing India and Brazil as natural partne