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Jio-bp, the fuel retailing joint venture of Reliance Industries Ltd and UK's bp Plc, on Tuesday launched an additive-laced premium <keyword id="6356109" type="General" weightage="100" keywordseo="diesel" source="Orion">diesel</keyword> that the company said gives improved mileage and gives a saving of up to Rs 1.1 lakh per truck. The premium diesel is priced at rates lower than normal or additive-free diesel sold by public sector (PSU) competition. "Jio-bp today announced the launch of its diesel with ACTIVE technology, set to elevate diesel standards for Indian consumers. "The newly launched additivised diesel, available across the company's network will yield annual savings of up to Rs 1.1 lakh per vehicle to truckers owing to (up to) 4.3 per cent improved fuel economy," it said in a statement. The new diesel is being sold at the Jio-bp outlet in Navi Mumbai for Rs 91.30 per litre, while the normal diesel at PSU petrol pumps in the area cost Rs 92.28 a litre. This new high performance diesel offering will be available at all Jio-bp outlets and "will be offered at regular prices with no additional cost for the first time ever in the Indian market," it said. Diesel with ACTIVE technology helps reduce the risk of unscheduled maintenance caused by dirt build up and removes existing dirt from critical engine parts and protects against its build up with ongoing use. It is designed to work across a range of commercial vehicles, and with ongoing use it offers a variety of benefits to drivers and fleet owners. It helps restore and maintain the power of the engine with ongoing use while also reducing the risk of unscheduled vehicle maintenance, it added. Reliance BP Mobility Ltd (RBML) operates under the name 'Jio-bp'. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/the-changing-contours-of-cinema-goers-underperforming-hindi-movies-weigh-down-pvr-inox/articleshow/100271622.cms">The changing contours of cinema-goers &amp; underperforming Hindi movies weigh down PVR Inox</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-in-top-gear-jlr-to-drive-growth-in-fy24/articleshow/100252339.cms">Tata Motors in top gear, JLR to drive growth in FY24</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a>

Jio-bp joint venture launches additive-laced premium diesel

French energy giant <keyword id="11344358" type="General" weightage="20" keywordseo="totalenergies" source="Orion">TotalEnergies</keyword> has invested USD 300 million in a <keyword id="34553" type="General" weightage="20" keywordseo="renewable-energy" source="Orion">renewable energy</keyword> <keyword id="6373972" type="General" weightage="20" keywordseo="joint-venture" source="Orion">joint venture</keyword> with <keyword id="4343578" type="General" weightage="20" keywordseo="adani-green" source="Orion">Adani Green</keyword> Energy Ltd. In a statement, AGEL said it completed "1,050 MW joint venture (JV) with TotalEnergies. As part of the JV, TotalEnergies invested USD 300 million in AGEL subsidiary, for acquiring 50% stake in the projects." This follows the binding agreement about the JV announced between AGEL and TotalEnergies in September 2023. The JV houses the 1,050 MW portfolio comprising a mix of already operational (300 MW), under construction (500 MW) &amp; under development assets (250 MW) with a blend of both <keyword id="45681" type="General" weightage="20" keywordseo="solar" source="Orion">solar</keyword> and <keyword id="43948" type="General" weightage="20" keywordseo="wind" source="Orion">wind</keyword> power projects in India. "Wth this transaction, TotalEnergies has reinforced its strategic alliance with AGEL and support in enabling AGEL's target of 45 GW capacity by 2030." It added.

TotalEnergies invests USD 300 million in Adani Energy project

New Delhi, Apr 1 () Honda Siel Power Products on Wednesday said its two promoters -- Japan's Honda Motor Co and India's Usha International -- have terminated their over two-decades old joint venture. Subsequently, Siddharth Shriram has also resigned as an independent director and chairperson of Honda Siel Power Products with Takahiro Ueda being proposed to be appointed in his place. The joint venture agreement dated October 25, 1997, entered between Honda Motor Co. Ltd., Japan, and Usha International Limited to create and operate Honda Siel Power Products Ltd (HSSP) as a joint venture has been terminated pursuant to a termination agreement executed on March 31, 2020, HSSP said in a regulatory filing. The company said its board of directors at a meeting held on Wednesday "deliberated" termination of JV agreement although it is not a party to the agreement. The board also deliberated on approving re-classification request of Usha International Ltd from 'Promoter and Promoter Group' category to 'Public' category. As on quarter ended December 31, 2019, Honda Motor Co held 66.67 per cent in HSSP with the Indian partner Usha International Ltd having 1 per cent stake. HSSP further said its board also said the agreement between Honda and Usha International permitting the usage of the name 'Siel' as part of the name of Honda Siel Power Products Ltd stands terminated. HSSP is a leading player in power products industry, manufacturing and marketing a range of portable generators, water pumps, tillers and general purpose engine. It also markets lawn mower, brush cutter and long-tailed outboard motors. It has a manufacturing facility at Greater Noida. This is the second joint venture between the two parties which has been terminated. In August 2012, Usha International exited from its then joint venture -- Honda Siels Cars India -- with Honda Motor Company by selling its entire 3.16 per cent stake to the Japanese partner for Rs 180 crore. RKL HRS

Honda, Usha International terminate power products joint venture

<ul><li>India's largest bank, the State Bank of India (<keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>) and <keyword id="69870" type="CITY" weightage="20" keywordseo="Hitachi">Hitachi</keyword> Payments are embarking on a <keyword id="6373972" type="UNKNOWN" weightage="20" keywordseo="Joint-venture">joint venture</keyword> that will take on <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">digital payments</keyword> and card acceptance platforms. </li><li>Combining the individual strengths of both, the venture will deliver payment services to the customers and merchants on Quick Response (QR) code acceptance, Unified Payment Interface (UPI) and e-commerce businesses.</li><li>Hitachi manages over 70% of SBI’s current network and this joint venture will further strengthen their partnership.</li></ul>The State Bank of India (SBI), India's largest commercial bank, signed an agreement with the Hitachi Group (Japan) embarking on a joint venture to establish digital payments and a card acceptance platform in the country. While the bank will have a majority stake in the proposed venture, according to its <a href="https://www.hitachi.com/New/cnews/month/2018/10/181029c.html">press release</a>, Hitachi is planning to invest 26% in its subsidiary SBI Payment Services. Both parties will now be proceed to apply for regulatory approvals. In India, SBI's customer base expands to nearly <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">420 million</a> people and is the largest merchant acquirer in the market in terms of terminals through its subsidiary, SBI Payment. So far it has managed to deploy <a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/">1.96 million</a> merchant payment acceptance touch points across the country. But, looking to shift that burden, SBI has initially shortlisted <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">three companies</a> for the joint venture — Hitachi, Worldline and First Data Corporation. Whichever company got shortlisted would then be in-charge of deploying credit card swipe machines. According to SBI’s annual report for the FY18, SBI Payment Services’ total balance sheet equity, including surplus and reserves, was reported to be <a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/">₹38 million</a> while the total balance sheet assets were at<a href="https://www.financialexpress.com/industry/sbi-to-sell-26-stake-in-arm-to-form-payments-joint-venture-with-hitachi/1365923/"> ₹56 million</a>. The joint venture blends the distribution network of SBI with Hitachi’s technology and services including big data, artificial intelligence, analysis and digital payments. The venture will deliver payment services to customers and merchants with Quick Response (QR) code acceptance, Unified Payment Interface (UPI), mass transit sector and e-commerce businesses. Rajnish Kumar, the Chairman of SBI, said that the penetration of payment acceptance infrastructure is still low, at <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">2500 Point of Sale (PoS) per million</a>. And with the new joint venture, the bank is hoping the numbers will rise. What's in it for Hitachi? Hitachi is all set to expand its footprint in the Indian market by contributing to the development of digital payments services’ business via digital payments platform in order to ensure quality and better convenience. The venture will combine the individual strengths of both subsidiaries. In a conversation with <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-hitachi-payments-form-joint-venture-for-digital-payment-platform/articleshow/66412731.cms">Economic Times</a>, Hitachi India’s Managing Director Bharat Kaushal stated that this mutually benefitting partnership with the financial giant SBI will allow the company to widen their footprint across India. Hitachi manages over <a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html">70%</a> of SBI’s current network and this decision to create a joint venture is only going to strengthen the partnership. Hitachi Payments manages over<a href="https://www.business-standard.com/article/finance/sbi-hitachi-form-jv-to-boost-digital-payments-card-acceptance-platforms-118102900350_1.html"> 55,000 ATMs</a> in India and has been providing deployment, management services and handling SBI’s digital acceptance payment network since 2011.

India's largest bank and Hitachi are teaming up to enter the country's booming digital payments space

<ul><li><keyword id="274261" type="COMPANY" weightage="60" keywordseo="Plug-Power">Plug Power</keyword> soared 20% on Tuesday after the company entered a joint venture with Renault to develop hydrogen powered commercial vehicles and taxis.</li><li>The venture will be based in France and is set to launch in the first half of 2021.</li><li>Shares of Plug Power traded at levels not seen since 2006.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell" target="_blank" rel="noopener noreferrer">Sign up here our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Shares of <a href="https://markets.businessinsider.com/stocks/plug-stock">Plug Power</a> soared as much as 20% on Tuesday after <a href="https://www.globenewswire.com/news-release/2021/01/12/2157005/0/en/Groupe-Renault-Plug-Power-Join-Forces-to-Become-Leader-in-Hydrogen-LCV.html">Renault said</a> the two companies would form a joint venture to develop hydrogen powered commercial vehicles and taxis.Plug Power traded to levels not seen since 2006 on the news, hitting a high of $65.45 in Tuesday trades.The 50/50 joint venture will be based in France and is set to launch by the end of the first half of 2021, according to Renault. Plug Power and Renault expect to begin commercializing hydrogen powered light commercial vehicles by the end of 2021 with pilot fleet deployments.Research and development, manufacturing, and sales will be the three core pieces of the joint venture, and the first area of focus will be the heavy van market. "We look forward to working with our new partners to combine our technology with their decades long experience leading the European automotive market," Plug Power CEO Andy Marsh said.Shares of Plug Power have surged 1,450% over the past year, in part on prospects of a more robust green energy agenda under a Joe Biden presidency.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-strongest-sales-growth-2021-goldman-sachs-2021-1?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestm=ingest" target="_blank" rel="noopener noreferrer">Goldman Sachs says to buy these 29 stocks poised to deliver the strongest sales growth through year-end</a><div type="image" title="plug.JPG" height="628" width="841" msid="80236581" hostid="261"></div>

Plug Power jumps 20% on joint venture with Renault to develop hydrogen vehicles

<div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div><ul><li><a href="https://markets.businessinsider.com/stocks/f-stock">Ford Motor Company</a> announced a joint venture with the Indian carmaker Mahindra &amp; Mahindra on Tuesday.</li><li>The goal is to boost Ford sales in India and other emerging markets. </li><li>Shares of Mahindra climbed as much as 3.5% on the news, while Ford traded slightly higher.</li><li>As part of the $275 million venture, Ford will transfer all India operations to Mahindra. The move comes amidst a massive $11 billion restructuring at Ford. </li><li><a href="https://markets.businessinsider.com/stocks/f-stock">Watch Ford trade live on Markets Insider</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/f-stock">Ford Motor Company</a> has teamed up with Indian carmaker <a href="https://markets.businessinsider.com/stocks/mahindramahindra_3/company-profile">Mahindra &amp; Mahindra</a> to stem the company's losses in the merging nation, the company <a href="https://shareholder.ford.com/investors/news-and-events/" target="_blank" rel="noopener">announced</a> Tuesday.Ford will transfer all of its India operations to Mahindra in the joint venture, valued at $275 million. Mahindra will own 51% of the venture, which Ford expects to be operational by mid 2020. Shares of Ford gained roughly 0.5% in early trading Tuesday on the news. Mahindra's <a href="https://finance.yahoo.com/quote/M&amp;M.NS?p=M&amp;M.NS&amp;.tsrc=fin-srch" target="_blank" rel="noopener">stock</a> climbed as much as 3.5%.The move is a continuation of a strategic partnership with Mahindra that began in September 2017. It builds on CEO Jim Hackett's work to make Ford a leaner, more profitable company. Since taking the top job in 2017, Ford has announced it will close five plants in Europe and <a href="https://www.cnbc.com/2019/06/27/ford-to-slash-12000-jobs-in-europe-by-2020.html">slash 12,000 jobs there</a>. It is also cutting <a href="https://www.businessinsider.com/ford-to-cut-jobs-as-part-of-global-restructuring-effort-2018-10">7,000 global salaried employees</a> - about 10%- in an $11 billion restructuring plan. Read more: <a href="https://www.businessinsider.com/dan-fuss-buffett-of-bonds-on-investing-strategy-credit-risks-2019-9" target="_blank" rel="noopener">Dan Fuss is revered as 'the Warren Buffett of bonds.' He walked us through the investing approach that's delivered market-beating returns and turbocharged his 61-year career.</a>The joint venture will help grow Ford's brand in India and other high-growth emerging markets. India is the fourth-largest automobile market, and Ford has failed to take a meaningful stake there for two decades, <a href="https://www.bloomberg.com/news/articles/2019-09-24/ford-to-put-struggling-india-business-into-venture-with-mahindra">Bloomberg reported</a>."Strong alliances like this play a crucial role in assuring we continue to achieve our vision while at the same time staying competitive and delivering value to our global stakeholders," Hackett said in a statement. The joint venture will introduce three new Ford vehicles that will have a combination of Ford branding and Mahindra technology. The venture will also be responsible for developing electric vehicles and supporting "the growth of sustainable mobility across emerging markets," the company said. The company has had a rocky year. In July, it announced it would step up its global alliance with Volkswagen, to use VW technology and invest further in self-driving cars. Then, In September, Moody's downgraded its shares <a href="https://markets.businessinsider.com/news/stocks/moodys-downgraded-ford-to-junk-status-and-stock-is-set-to-tank-2019-9-1028511833">to junk status, citing its weak financial outlook</a> after second quarter earnings <a href="https://www.businessinsider.com/ford-second-quarter-profit-falls-on-restructuring-charges-2019-7">largely disappointed.</a> <a href="https://markets.businessinsider.com/stocks/f-stock">Ford is up 18%</a> year to date.Read more: <a href="https://www.businessinsider.com/wework-ipo-fiasco-marks-top-for-unicorns-tech-stock-trouble-2019-9" target="_blank" rel="noopener">Morgan Stanley says WeWork's failed IPO marks the end of an era for unprofitable unicorns - and explains why it leaves the market's tech kingpins vulnerable</a><div class="KonaFilter image-container display-table"><div><div class="image"><a href="https://markets.businessinsider.com/stocks/f-stock"></a></div></div></div>Get the latest Ford stock price<a href="http://markets.businessinsider.com/stock/f-Quote"> here.</a>

Ford announces $275 million joint venture with Indian automaker Mahindra

Mumbai (Maharashtra) [India], July 26 (ANI): <keyword id="15323576" type="General" weightage="20" keywordseo="jio-financial-services" source="Orion">Jio Financial Services</keyword> Limited (JFS) and BlackRock [NYSE: BLK] on Wednesday announced an agreement to form <keyword id="18155266" type="General" weightage="80" keywordseo="jio-blackrock" source="Orion">Jio BlackRock</keyword>, a 50:50 joint venture that combines the respective strengths and trusted brands of BlackRock and JFS to deliver tech-enabled access to affordable, innovative investment solutions for millions of investors in India. According to a press release, Jio BlackRock brings BlackRock's deep expertise and talent in investment management, risk management, product excellence, and access to technology, operations, scale, and intellectual capital around markets, while JFS contributes local market knowledge, digital infrastructure capabilities, and robust execution capabilities. "Together, the partnership will introduce a new player to the Indian market with a unique combination of scope, scale, and resources. JFS and BlackRock are targeting an initial investment of US$150 million each in the joint venture", it added <keyword id="4992253" type="General" weightage="50" keywordseo="rachel-lord" source="Orion">Rachel Lord</keyword>, Chair and Head of APAC, BlackRock said, "India represents an enormously important opportunity. The convergence of rising affluence, favorable demographics, and digital transformation across industries is reshaping the market in incredible ways. We are very excited to be partnering with JFS to revolutionize India's asset management industry and transform financial futures. Jio BlackRock will place the combined strength and scale of both of our companies in the hands of millions of investors in India." Speaking on this transaction, Hitesh Sethia, President and CEO, JFS said, "This is an exciting partnership between JFS and BlackRock, one of the largest and most respected asset management companies globally. The partnership will leverage BlackRock's deep expertise in investment and risk management along with the technology capability and deep market expertise of JFS to drive the digital delivery of products. Jio BlackRock will be a truly transformational, customer-centric, and digital-first enterprise with the vision to democratize access to financial investment solutions and deliver financial well-being to the doorstep of every Indian." The joint venture will launch operations post-receipt of regulatory and statutory approvals. The company will have its own management team. BlackRock's purpose is to help more and more people experience financial well-being, the release stated. "As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock", it further stated. Further, the release said, "<keyword id="18155200" type="General" weightage="20" keywordseo="blackrock-india" source="Orion">BlackRock India</keyword> is at the very heart of our global operating platform, enabling us to innovate our business to benefit clients. Over the past 17 years, our India platform has grown to over 2,400 employees across offices in Mumbai, Gurgaon, and Bangalore powering our global network by employing talents across investments, alternatives, operations, analytics and modelling, and corporate functions." Jio Financial Services Limited (JFS) through its operating subsidiaries and joint ventures will offer a broad range of financial services solutions addressing the needs of both consumers and merchants. JFS will use technology as a key enabler to reach customers directly, it added. (ANI)

Jio Financial services and BlackRock to form India asset management joint venture

New Delhi, Apr 1 () Fair trade regulator CCI on Wednesday said it has approved formation of joint venture between Adani Green Energy Ltd and Total S.A. As per a combination notice filed with the regulator, the proposed combination involves two steps. Firstly, a joint venture will be incorporated by Adani Green Energy and, subsequently, the direct and indirect subsidiaries of Adani Green will be transferred to the joint venture. The second step involves direct or indirect acquisition of 50 per cent of the equity share capital of the joint venture by Total S.A. Total S.A. is the parent entity of the Total Group, which is an international integrated energy producer with operations in every sector of the oil and gas industry. It is also involved in the renewable energy and power generation sectors, the notice noted. Adani Green Energy and the direct and indirect subsidiaries of the firm are active in the business of power generation through solar energy in India, it added. The Competition Commission of India (CCI) in a tweet on Wednesday said it "approves formation of joint venture between Adani Green Energy Ltd and Total S.A., in solar power generation business in India". SRS HRS

CCI approves formation of joint venture between Adani Green Energy, Total S.A

New Delhi, Feb 10 () The Competition Commission has approved Mahindra &amp; Mahindra's acquisition of majority stake in a wholly-owned subsidiary of Ford Motor Co, which will create a joint venture in the country.In October last year, M&amp;M said it would buy 51 per cent stake in Ardour Automotive Pvt Ltd for around Rs 657 crore.In a tweet on Monday, the Competition Commission of India (CCI) said it has approved "formation of JV between Mahindra &amp; Mahindra and Ford Motor and transfer of automotive business of Ford India to the JV".The remaining stake of 49 per cent in Ardour Automotive would be held by Ford Motor Co and/ or any of its affiliates.The new venture would acquire the automotive business of Ford India Pvt Ltd (FIPL), a wholly-owned subsidiary of Ford Motor Co.The automotive business includes vehicle manufacturing plants of Ford India in Chennai and Sanand. SRS MRMR

Competition Comm gives nod for Mahindra & Mahindra, Ford Motor joint venture

<ul><li><keyword id="2808667" type="PERSON" weightage="20" keywordseo="OYO">OYO</keyword> has announced a Joint Venture with <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">Softbank</keyword> Corp and Softbank Vision fund to launch <keyword id="7496028" type="UNKNOWN" weightage="20" keywordseo="Oyo-Hotels-Japan">Oyo Hotels Japan</keyword>. </li><li>Softbank has been an investor in OYO since 2018.</li><li>OYO had recently announced its funding from Airbnb as well.</li></ul>Indian hospitality <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> OYO has announced its partnership with Japan-based SoftBank Corp and the SoftBank Vision fund to expand its business in Japan. The new venture called Oyo Hotels Japan will be led by Prasun Chaudhary, one of OYO's founding members. OYO had recently announced its housing rental service in Japan called Oyo Life. The company’s official statement said that their business in Japan would “empower small and independent asset owners in Japan with its rapid transformation capabilities and integrated hotel / ryokan management system powered by advanced AI technology.” Softbank has been a loyal supporter of OYO. The Japanese investment firm has been one of OYO's investors since 2015. It was Softbank's investment that led OYO into the Indian unicorn club with a $5 billion valuation in September 2018, a huge jump from the $900 million valuation it had until then. OYO which had expanded its business in China in 2017 had already made China one of its biggest markets. Now, with its entry into Japan it aims to get closer to its dream of being the <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">world’s biggest hotel chain.</a> “OYO is already the most preferred brand in the budget to mid-segment hospitality space in several global markets, where our operational expertise in revenue management, and distribution, through both offline and online channels, has helped us gain significant momentum,” said <keyword id="1670338" type="PERSON" weightage="20" keywordseo="Ritesh-Agarwal">Ritesh Agarwal</keyword>, Group CEO &amp; Founder, OYO Hotels &amp; Homes. OYO had recently announced a strategic investment from global giant Airbnb. See Also: <a href="https://www.businessinsider.in/home-renting-giant-airbnb-invests-in-indian-unicorn-oyo-rooms/articleshow/68670636.cms">Airbnb picks up a stake in its Indian rival Oyo Rooms</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/former-indigo-chief-is-aiming-to-make-the-6-year-old-oyo-the-worlds-largest-hotel-chain/articleshow/67536612.cms">A 6-year-old Indian startup wants to be world’s biggest hotel chain</a>

OYO partners with Softbank to create a joint venture for its Japan business

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><a href="https://www.flickr.com/photos/bribri/8213198558/in/photolist-J2ogVr-H6Asv2-7f7rp7-9YfdoF-H5FkHE-HdZF5p-He21rD-7vBPaM-7vFD55-GiwZpS-Kk1f3M-dvLMMG">Flickr/BriYYZ</a>A Delta Air Lines Boeing 777-200LR and Aeromexico Connect Embraer ERJ-145 at LAX.</div></div></div>A <a href="http://www.state.gov/e/eb/rls/othr/ata/m/mx/250782.htm" target="_blank">new air transport agreement between the United States and Mexico</a> just went into effect and it could be great news for Delta's $1.5 billion joint venture with Aeromexico.<a href="http://news.delta.com/delta-aeromexico-file-antitrust-immunity-application" target="_blank">Atlanta-based Delta and Mexico's national airline have been seeking anti-trust protection </a> for a $1.5 billion joint venture that will allow the two companies to<a href="http://www.businessinsider.com/r-mexico-us-air-transport-deal-begins-in-bid-to-boost-competition-2016-8" target="_blank"> coordinate flights and fare prices</a>.Delta also announced last year that it intends to acquire up to 49% of Mexico City-based carrier. The<a href="http://www.state.gov/e/eb/rls/othr/ata/m/mx/250782.htm" target="_blank"> new agreement</a>, which went into effect on Sunday, could pave the way for the joint venture's approval."This new agreement will expand <keyword id="6354692" type="ORGANIZATION" weightage="60" keywordseo="Travel">travel</keyword> and trade between the United States and Mexico, and facilitate broader economic growth in both countries," Secretary of State John Kerry and <keyword id="34991" type="ORGANIZATION" weightage="60" keywordseo="transportation">Transportation</keyword> Secretary Anthony Foxx said in a joint statement on Friday. "Passenger carriers will be able to provide new options for travelers and enhance competition," Foxx said. The new agreement, which was signed on December 18, 2015, works as a <a href="http://www.wsj.com/articles/u-s-and-mexico-agree-to-liberal-air-service-treaty-1450461412" target="_blank">de facto Open Skies agreement</a> that removed many of the barriers that existed in the previous version that was signed in 1960. As a result, US airlines will now have significantly improved access to the Mexican market while Delta and Aeromexico's joint venture edges closer to reality. Even though the new agreement clears the path for the joint venture, Delta and Aeromexico will still likely have to give up some of its slots and gates in Mexico City to gain approval, Airways senior business analyst told Business Insider. While the joint venture received the green light from <a href="https://aeromexico.com/en/about-us/aeromexico-corporate/press-room/join-cooperation-agreement-with-delta-air-lines-inc/?site=us" target="_blank">Mexican regulators earlier this year</a>, the airlines are still awaiting approval from the US Department of Transportation. Rivals such as JetBlue have opposed the joint the venture - insisting that the new entity is anti-competitive. The main crux of the opposition lies with access to Mexico City International Airport - the country's highly congested main international gateway. "We are trying to gain further slots at the airport and that is why we are opposed to the proposed Delta-Aeromexico joint venture, which would allow their further growth while others are unable to grow," <a href="http://airlines.iata.org/ceo-interviews/jetblue-is-offering-international-partners-america" target="_blank">JetBlue CEO Robin Hayes said in an interview published by the International Air Transport Association</a> earlier this year. "If it goes ahead, these airlines will control more than half of the slots at the airport. JetBlue, on the other hand, has some challenging slots times, leaving early in morning," Hayes said. Representatives from Delta Air Lines and JetBlue were not immediately available for comment. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/delta-airlines-operations-control-center-atlanta-2016-8">This one room in Atlanta acts as a mission control for all of Delta's planes</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="EzbWoyNDE6KAG7Nn0kkC7FuH-4ELdvnV" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Delta's $1.5 billion joint venture just got some great news

<keyword id="6494266" type="General" weightage="20" keywordseo="Imagine-Marketing" source="Orion">Imagine Marketing</keyword> – the parent company of earwear brand <keyword id="53189" type="General" weightage="20" keywordseo="boAt" source="Orion">boAt</keyword> and electronics manufacturing firm <keyword id="753025" type="General" weightage="100" keywordseo="dixon-technologies" source="Orion">Dixon Technologies</keyword> – on Tuesday announced a 50:50 joint venture to manufacture wireless audio products. Both the companies will come together to co-invest in the evolving Indian mobile accessory market, thereby paving the way towards 'Make in India' in this category. "Ramping up domestic production will significantly help in enhancing India's share in the global markets contributing to the vision of an Aatmanirbhar Bharat. It will also give an impetus to build in- house design capabilities and to develop lifestyle-oriented products to delight our 'boAtheads'," Sameer Mehta, Co-founder and Chief Product Officer, Imagine Marketing Pvt. Ltd, said in a statement. The joint venture is an important milestone in boAt's journey to establish a manufacturing base in India. The association will enable the companies to meet the evolving needs of customers by delivering high-quality and aspirational lifestyle-focused hearable solutions, backed by quality manufacturing and robust R&amp;D. "Through our partnership, we aim to provide boAt with a faster ability to scale up manufacturing in India with our low-cost structure, high quality and superior execution track record. We strive to develop innovative products with boAt for not only the discerning Indian consumers but also for global markets," Atul B. Lall, Vice Chairman and Managing Director, Dixon Technologies Limited, added. SEE ALSO: <a href="https://www.businessinsider.in/tech/gadgets/news/sony-wf-1000xm4-tws-earbuds-review/articleshow/88898120.cms">Sony WF-1000XM4 review — The finest of all truly wireless earbuds</a>

boAt and Dixon Technologies form joint venture to manufacture wireless products in India

The Competition Commission of India (<keyword id="47183" type="ORGANIZATION" weightage="20" keywordseo="CCI">CCI</keyword>) has granted approval to the proposed joint venture between consumer durable giant <keyword id="6367990" type="CITY" weightage="20" keywordseo="Panasonic">Panasonic</keyword> Corporation, Fujitsu Limited and Development Bank of Japan. The commission had received an application for approval of the joint venture company on September 1, 2014. 
	 
	“…Considering the facts on record and the details provided in the notice given under sub-section (2) of Section 6 of the Act and assessment of the proposed combination on the basis of factors stated in sub-section (4) of Section 20 of the Act, the Commission is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and therefore, the Commission hereby approves the same under sub-section (1) of Section 31 of the Act,” stated the notice by CCI. 
	 
	It further added that Fujitsu does not have sales of logic IC products in India in the past two financial years while Panasonic sells semiconductor and logic IC products through its subsidiary, Panasonic Asia Pacific Pte Ltd, and has insignificant sales. 
	 
	“It is, therefore, observed that there is no horizontal overlap between the Parties in India. Further, as stated in the notice, there is no vertical relationship between the Parties in India. In view of the foregoing, the proposed combination is not likely to give rise to any competitive concern in India,” added the order. 
	 The new company will specialize in system large-scale integration design and development of certain logic integrated circuit (logic IC) products. The companies applied for an approval following the signing of System LSI Business Integration Agreement between Fujitsu, Fujitsu Semiconductor Limited (FSL) and Panasonic and Financing Agreement between Fujitsu, FSL, Panasonic and <keyword id="2209987" type="UNKNOWN" weightage="20" keywordseo="DBJ">DBJ</keyword>, as executed on July 31, 2014. 
	 
	According to the agreement signed by the companies, FSL, a subsidiary of the Japanese firm Fujitsu, will be contributing assets of its semiconductor business to the JV while DJB will only make an investment in the JV and will not have controlling interest in any other semiconductor company. “…As stated in the notice, Panasonic will also be contributing assets relating to its system LSI business to the JV”, said the order.

CCI Gives Final Nod To New Joint
Venture Between Panasonic, Fujitsu and DJB

<ul><li>The plant will operate under the Indo-Russia Rifles Pvt Ltd, located in Korwa, near Amethi. </li><li>The move is aimed at strengthening India-Russia defense ties and technical collaboration. </li><li>The AK-203s will reportedly replace the INSAS rifles used by the Indian armed forces.</li></ul>India plans will set up a factory to manufacture the latest series of Russia’s <keyword id="747340" type="PERSON" weightage="20" keywordseo="Kalashnikov">Kalashnikov</keyword> rifles, signing a joint venture agreement with a Russian firm. The plant will operate under the Indo-Russia Rifles Pvt Ltd, located in Korwa, near Amethi in eastern Uttar Pradesh. It will reportedly produce about 7,50,000 AK-203 rifles, the most recent version of the famous AK-47 rifles. The move is aimed at strengthening India-Russia defense ties and technical collaboration. The unit, along with the <a href="https://www.moneycontrol.com/news/india/pm-modi-to-lay-foundation-stone-of-defence-corridor-in-jhansi-on-friday-3540551.html">planned </a>‘defence corridor’ in Uttar Pradesh that will connect up to six cities in the northern Indian state, will help the country’s defense capabilities, “The defence production corridor and Kalashnikov rifle AK-203 next generation rifle will help India, Defence Minister Nirmala Sitharaman said, adding the AK-203 transfer of technology will be “completely indigenous” and help create employment. The AK-203s will replace the INSAS rifles used by the Indian armed forces, the Indian Express <a href="https://indianexpress.com/article/india/russian-president-putin-hopes-ak-203-rifles-will-help-indian-security-agencies-5609292/">reported</a>. Russian President Vladimir Putin has said the factory will become another "symbol of friendship and constructive cooperation between our two countries," pointing to long-standing military and technical cooperation between the two countries. The two have set up over 170 military and industrial facilities two countries have set up in the past with Russia’s assistance. With IANS See also: <a href="https://www.businessinsider.in/russia-to-help-india-with-its-first-manned-space-mission-may-train-astronauts-abroad-the-iss/articleshow/66086890.cms">Russia to help India with its first manned space mission, may train astronauts aboard the ISS</a> <a href="https://www.businessinsider.in/the-focus-of-the-india-russia-summit-this-week-will-be-on-one-key-missile-deal/articleshow/66050715.cms">The focus of the India-Russia summit this week will be on one key missile deal</a>

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