Konkan Railways Corporation Ltd has signed a contract agreement with Nepal's Department of Railways to supply two 1600 HP DEMU train sets. These trains will be used to operationalise railway link between Jayanagar in India and Kurtha in Nepal. The train sets will be manufactured by the Integrated Coach Factory, Chennai. The agreement was signed in Kathmandu in the presence of Indian Ambassador Manjeev Puri and Nepal's Secretary, Ministry of Physical Infrastructure and Transport Madhusudan Adhikari. Each train set will comprise of one driving power car, three trailer cars with one air-conditioned, one driving trailer car with standard accessories.

Bharti Airtel and Hughes Communication India have agreed to merge their broadband satellite or VSAT (very small aperture terminal) business to improve operational efficiencies and target new customers in areas such as in-flight connectivity. After a merger, Hughes Communication will own 67% share of new entity and the remaining 33% will own by Bharti Airtel. If we talk about current market share, the Hughes Communication has 36% share of the market and Airtel Business - the enterprise and VSAT arm of Bharti Airtel has 27% share of the market.

The Institute for Development and Research in Banking Technology (IDRBT), an arm of Reserve Bank of India, has launched a 5G Use Cases Lab for banking and financial sector. The 5G technology, along with blockchain, will be progressively adopted by banks. Department Of Telecommunications had already launched test beds for 5G use in the academia in Hyderabad, Chennai and Bangalore to develop 5G for Indian use.

Wipro Consumer Care has signed an agreement to acquire Splash Corporation, a Philippines-based personal care company. The transaction strengthens Wipro's consumer care portfolio in personal care and completes its South-East Asian footprint. This is Wipro's 11th acquisition in the consumer line business and the 9th acquisition in the personal care segment overall.

India's 3rd-largest non-life insurance provider in the private sector, HDFC ERGO General Insurance Company launched a scheme termed 'Mosquito Disease Protection Policy' which will cover a person against common mosquito-borne diseases, namely, Dengue Fever, Malaria, Chikungunya, Japanese Encephalitis, Kala-azar, Lymphatic Filariasis and Zika Virus. These mosquito-borne diseases leads to financial burden due to hospitalisation or affects the No Claim Bonus of any conventional Health Insurance. The policy by HDFC ERGO will cover hospitalisation expenses. The policyholder may opt for a huge amount to be paid as a policy benefit on offering the proof of hospitalisation. The policy will also pay the beneficiary the sum insured, if in case of the policyholder dies due to the disease.

Microsoft has unveiled fully-managed Azure Blockchain Service that would simplify the formation, management, and governance so that businesses can focus on workflow logic and application development. Instead of supporting cryptocurrency transactions, Azure Blockchain Service will let businesses develop their applications on its Cloud-based platform. Microsoft has also announced a partnership with J.P. Morgan to make "Quorum", the first ledger available in Azure Blockchain Service.

Amazon plans to close down online retail operations in China, admitting defeat to local e-commerce rivals such as Alibaba and JD.com. They will continue other operations in China such as Amazon Web Services (AWS). Kindle e-books and teams that help ship goods from Chinese merchants to customers abroad. Amazon entered China in 2004, when it acquired a local online book seller for USD 75 million. They launched its Prime membership programme in China in 2016 with aim to lure customers with high-quality Western goods and perks like free international deliveries.

Reliance Industries Ltd. (RIL) acquired British toy retailer Hamleys in a all cash deal on May 09, 2019. As per the RIL announcement they have acquired Hamleys in 67.96 million pounds (about Rs. 620 cr). With this announcement Reliance will get hold of hundred percent shares of Hamleys Global Holdings Limited (HGHL). Hamley was owned by Chinese fashion conglomerate C Banner International since 2015.

The Competition Commission of India (CCI) approved engineering and construction major Larsen & Toubro's (L&T's) proposal to acquire up to 66.15% stake in Mindtree. With this nod, L&T has overcome the first major regulatory hurdle in its bid for 'hostile' takeover of the Bengaluru-headquartered IT services firm.

India's asset management companies (AMCs) own assets under management (AUM) worth Rs24.46 trillion, according to data released by the Association of Mutual Funds in India (Amfi). HDFC Asset Management Co. Ltd has claimed the top spot with an average AUM of Rs3.42 trillion, overtaking ICICI Prudential Asset Management Co. Ltd with an average AUM of at Rs3.20 trillion. Out of the total industry assets, a huge 82.7% is owned by the top 10 AMCs, who have owned around 80% of the industry assets over at least three years now.