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IBM expands presence in Telangana with new BPO unit at Hyderabad

IBM today announced that it has set up a new facility offering clients Business Process Operations consulting from IBM Consulting in Hyderabad, Telangana in India. The expansion is aligned to its global double-digits hiring strategy across its global delivery network. Currently, the India footprint of Business Process Operations from IBM Consulting covers Bengaluru, Gurugram, Noida, Chennai, Pune, Mysuru and Mumbai. The new facility will be focused on Business Process Operations across several domains such as finance & accounts, procurement & supply chain, human resources & recruiting, and industry specific processes including risk & compliance.

Wingreens raises $17 mn from Investcorp and Omidyar Network India

Investcorp, a global provider and manager of alternative investment products, has led an investment of Rs 124 crore ($17 million) in Wingreens Farms, a packaged food and beverage companies, with participation from Omidyar Network India, an investment firm focused on social impact. Wingreens, a business committed to Women’s empowerment, is focused on capturing changing consumer preferences towards healthier and “better for you” products, a segment which represents a $1 billion opportunity over the next 5 years.

ONGC sells January-loading Russian Sokol crude at 22-mth high premium

SINGAPORE (Reuters) - Indian explorer ONGC Videsh has sold a cargo of Russian Sokol crude for loading in January at the highest premium in 22 months on robust demand in Asia, trade sources said on Monday. The 700,000-barrel cargo was sold at a premium of about $7.50 a barrel to Dubai quotes, the highest since trades registered in January 2020, according to the sources and data on Refinitiv Eikon. Itochu bought the cargo loading on Jan. 8-14, they said. ONGC last sold Sokol cargoes for December loading at $5.30-$5.90 a barrel.

Moglix-owned Credlix acquires Singapore-based EXIM fintech startup NuPhi Credlix

the digital supply chain financing platform from Moglix, the industrial business-to-business firm for manufacturing, has entered the EXIM financing space, with its acquisition of NuPhi. The acquisition comes shortly after Moglix’s entry into the Middle East region. As Moglix continues to expand globally, it is focusing on strengthening its supply chain financing solutions to enable manufacturers easy access to cash flow for their growth.

Cairn Energy says will start buyback with $1 bn tax refund from Indian Govt

Cairn Energy Plc today announced that it would use proceeds of $1 billion tax refund from the Indian government to initiate a buyback of its shares at a later date. It has also commenced an initial share repurchase programme of its ordinary shares up to £20 million as a prelude to the anticipated larger buyback programme to commence following receipt of the Indian tax refund, said the company in a press statement.

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