Maharashtra govt signs MoU worth Rs 10,947 cr for MUTP phase 3 projects


An MoU was signed on Thursday between the Maharashtra government, state planning bodies MMRDA, CIDCO, and the Mumbai Rail Vikas Corporation (MRVC) for projects worth Rs 10,947 crore under the Mumbai Urban Transport Project phase 3 (MUTP-3).

The memorandum of understanding was signed in the presence of Chief Minister at his official residence ‘Varsha’, a government release said.

These projects include construction of a suburban railway corridor between Panvel and Karjat (Rs 2,783 crore), new suburban corridor link between Airoli and Kalva (elevated) in the Central Railway zone (Rs 476 crore), quadrupling of Virar-Dahanu link in the Western Railway zone (Rs 3,578 crore).

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Other projects that would get a boost with the signing of the MoU are procurement of 47 rakes of AC local trains for Rs 3,491 crore and a trespass control system for tracks (Rs 551 crore), the statement said.

The Railways and will share the project cost.

Asian Infrastructure Investment Bank would be providing a loan of Rs 3,500 crore and an agreement will be

As Asian deals disappear, India becomes unlikely hotspot for M&A


Mukesh Ambani’s ambitious courtship of international investors has helped turn India into a rare bright spot for dealmaking in 2020, a shift that bankers say is likely to continue as the battle for the country’s digital economy heats up.

Thanks in large part to $15 billion of investments in Ambani’s technology venture from the likes of and Silver Lake Partners, India accounts for more than 12 per cent of announced deals in the Asia Pacific region so far this year, the highest ratio since at least 1998. The country’s tally has jumped 18 per cent from a year ago to $55.3 billion, defying an 18 per cent slide for the region, according to data compiled by Bloomberg.

With half a billion internet users and growing, India is witnessing pitched battles in everything from e-commerce and content streaming to messaging and digital payments — similar to the early days of China’s digital boom. The sector’s importance has only increased this year as the Covid-19 pandemic pushed India to impose the world’s biggest in late March.

“India has become one of the busiest markets for M&A in Asia,” said Kerwin Clayton, co-head

Washington Visit ‘Very Intense’: Mexican President


Mexico’s president said Thursday his visit to Washington to meet US President Donald Trump was “very intense” and important for both countries.

President Andres Manuel Lopez Obrador met Trump on Wednesday to mark the launch of the new US-Mexico-Canada Agreement trade deal, revamped after Trump had branded its predecessor treaty a killer of working-class US jobs.

“It was a visit with little time but very intense, and I consider it very important for the three North American countries because the new trade agreement was put into effect,” Lopez Obrador said before flying back to Mexico City.

“This is going to mean investment for the region, businesses, work, and the wellbeing of our people,” the president added later in a message on social media. The treaty went into effect on July 1.

In their first face-to-face meeting, Trump and Lopez Obrador voiced mutual praise and ignored the tensions that have marked relations between the neighbors, particularly over migration and security policy since Trump took office.

As part of his austerity policy, the leftist president was returning to his country in an economy-class seat on a commercial flight that stops in Miami on the way to Mexico City.

Canada was a notable

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