Cairn invoked arbitration under the India-UK bilateral investment treaty.

The Paradip Port Trust (PPT) administration is fully geared up to meet any eventuality of the impending cyclone 'Yaas', Port's Chairman Vinit Kumar said on Monday. According to India Meteorological Department, the deep depression over the Bay of Bengal intensified into cyclone Yaas in the early hours of Monday and it is likely to intensify into a severe cyclonic storm in the next 24 hours. "As the cyclonic storm 'Yaas' is expected to trigger heavy downpour accompanied by high velocity wind in the locality, PPT Administration is fully geared up to meet any eventuality," PPT said in a statement quoting Kumar. According to the statement, the drains in the locality have been cleared on a war footing in order to avoid any possible waterlogging. "Four teams of PPT with chain saws and Pay loader are ready to function roundtheclock during the cyclone to clear the roads due to possible uprooting of trees. "As precautionary measures, no inward movement of ships has been permitted from 2200 hrs of May 23, 2021," it said. The Port had planned only outward movement of ships which was expected to be completed by 1200 hrs on Monday, the statement said, adding all operations will be wound up and the Port will be cleared of all personnel by Tuesday morning. All vessels at Paradip anchorage have been asked to pick up anchor and move to sea, it said.

The second wave of COVID has set back air passenger traffic growth. Now a YoY growth of 80-85% is likely in FY2022 against the earlier projection of 130-135%, said rating agency ICRA.

Adani Green Energy announced today that it will acquire SB Energy's 5 GW India renewable power portfolio.