- State Bank of Mauritius (SBM) has appointed Sidharth Rath as the Managing Director & CEO of SBM Bank (India). Before this he was working with Axis Bank as Group Executive and Head of Corporate, Transaction Banking and International Banking. SBM Bank (India) has been recently granted licence by the RBI to carry on business as a scheduled commercial bank under the Banking Regulation Act, 1949, with effect from 1st December. It claims to be the first foreign bank to have been granted a universal banking licence under RBI's wholly-owned subsidiary scheme.
- Google's Next Billion Users (NBU) team announced the national roll-out of its Neighbourly app in Delhi and Bangalore. It will help people by sourcing local information from their neighbors about their neighbourhood in an easier way.The full-fledged app offers services in 8 vernacular languages and is a targeted app with a geographic radius between 1 to 5 km. The initial phase was tested in Mumbai, followed by Jaipur, Ahmedabad, Mysuru, Vizag, Kochi and Coimbatore. Henceforth more Indian cities like Chennai, Hyderabad, Pune, and Kolkata would be covered.
- As per the Chief Vigilance Commissioner (CVC) guidelines and the State Legislature, the Jammu and Kashmir bank was brought under the purview of the Right to Information (RTI) act. The decision was taken by the State Administrative Council (SAC) chaired by Governor Satya Pal Malik. The objective of the decision was to strengthen better corporate governance. As per the proposal, hereafter, the J&K Bank Limited will be treated as a Public Sector Undertaking (PSU).
- The Indian subsidiary of Denmark-based Grundfos is to set up its third pump production unit by 2020 in Chennai, Tamil Nadu. It plans to set it up in a State which would offer approvals on fast track. Despite the invitations from several States to the Grundfos, it said that it has 'natural tendency' to establish the unit in Tamil Nadu as it possessed 15 acres of land near Chennai. However, it has sought clarity on the policy and system fronts. The company plans to invest Rs.25 crore towards a preliminary study for the new plant and other related activities.
- The Indian Chamber of Commerce (ICC) signed a memorandum of understanding with the IIM Calcutta Innovation Park to help facilitate incubation of start-ups primarily in the Eastern and North Eastern states. It will primarily be focusing on developing start-up ecosystems that make a socio-economic impact in the eastern and north eastern states. This will help start-up entrepreneurs access ICC's member network. IIM Innovation Park is currently incubating 40 startups with almost half from Bengal. It will further add 10 more by the end of this fiscal. The company has in the last two years selected 25-odd start-ups for incubation. Most of these start-ups are revenue generating and have reported a cumulative turnover of Rs. 50 crore in FY18.
- SpaceX CEO Elon Musk has announced that he is changing the name of "BFR" rocket to "Starship."This rocket aims to carry people to the Moon and also to the Mars one day. BFR was referred as the "Big Falcon Rocket." The rocket is 387-foot tall. It has a first stage with engines and fuel systems, which will be called the "Super Heavy."Passengers will ride in the second stage of "Starship". The estimated cost of the rocket system is USD 5 billion.
- Arianespace launches Morocco's second earth observation satellite named Mohammed VI-B, developed by Thales Alenia Space and Airbus from French Guiana. Morocco's first satellite named Mohammed VI-A was launched on 8th November 2017 by Vega rocket from Kourou space center. Mohammed VI-B is the second satellite of Morocco's ambitious space program- the first in Africa. The satellite is named after Mohammed VI, King of Morocco who launched this ambitious space program in 2013. The satellite will be used for mapping, Agricultural monitoring, land surveying, monitoring changes in the environment and desertification as well as border and coastal surveillance.