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David Card, Joshua Angrist, and Guido Imbens share the Nobel Prize in Economics.

Tri-Economic Nobels

David card on the left(Canadian economist),Joshua Angrist at the centre(Israeli American economist) and Guido Imbens on right(Dutch American economist)

During a press conference at the Royal Swedish Academy of Sciences in Stockholm, Sweden, on Monday, Oct. 11, 2021, Permanent Secretary of the Royal Swedish Academy of Sciences Goran K Hansson, centre, announces the 2021 Nobel prize for economics, flanked by members of the Royal Swedish Academy of Sciences Peter Fredriksson, left, and Eva Mork. Winners David Card of the University of California at Berkeley, Joshua Angrist of the Massachusetts Institute of Technology, and Guido Imbens of Stanford University

Following REC, RIL will acquire up to a 40% stake in SP Group’s Sterling & Wilson Solar.

Business

Reliance-non governmental Indian corporate company

Through a series of transactions, RIL subsidiary company executed agreements with Shapoorji Pallonji and Company Private Ltd, Khurshed Daruvala and Sterling, and Wilson Solar Ltd to acquire a 40 percent post-money stake in SWSL.

From 2022, Bharti’s OneWeb and ISRO’s arm will partner to deploy satellites in India.

Astronomy(Business)

On October 11, Bharti Group-backed OneWeb said that it has reached an agreement with ISRO’s commercial arm, NewSpace India Limited (NSIL), to launch its satellite in India starting in 2022.

According to the statement, the agreement was reached through a letter of intent (LOI) with NSIL to use Indian-built PSLV (Polar Satellite Launch Vehicle) and the heavier GSLV-MkIII (Geosynchronous Satellite Launch Vehicle) as potential platforms for launching OneWeb’s satellites in India starting in 2022.

Uber will now follow your flights and have a ride waiting for you when you arrive.

Transportation(Business)

If all goes according to plan, ride-hailing service Uber will make it easier to obtain a ride home from the airport. According to reports, Uber will now be able to follow your flights and have a cab waiting for you when you arrive. On Wednesday, the company announced that users will be able to book a ride up to 30 minutes in advance by entering their travel details into the app. Users who choose the more expensive Uber Black and Black SUV will be able to use the feature as well.

PM Modi likely to launch National Infrastructure Plan on Wednesday

Infrastructural development (India)

Honorable Indian prime minister Dr.Narendra Modi

Prime Minister Narendra Modi will unveil the digital platform for the first-ever National Infrastructure Masterplan on Wednesday, which will map out the whole network of projects ranging from roads and trains to telecom networks and gas pipelines, from 2020 to 2024-25.

The blueprint, dubbed PM GatiShakti, was unveiled on Independence Day and would bring together 16 ministries, including seven major infrastructure sectors, on a single platform to eliminate duplication, speed approvals, and fill gaps at the appropriate moment.

Russian airliner carrying 23 people crashes near Tatarstan: 16 dead

Unfortunate accident

The Let L-410 Turbolet twin-engine short-range transport aircraft crash

An L-410 jet crashed near the town of Menzelinsk in the Republic of Tatarstan in central Russia on Sunday, killing at least 16 people and injuring seven others, according to emergency services reported by local media.

In Mumbai, Reliance opens Jio World Drive, a high-end shopping mall.

Business

Jio world drive-shopping mall at Bandra Kurla complex in Mumbai

Jio World Drive is Mumbai’s newest, most dynamic urban hangout, spanning 17.5 acres at Maker Maxity and conveniently placed in the Bandra Kurla Complex. The precinct houses 72 well-known foreign and Indian companies, 27 culinary outlets serving international cuisines, Mumbai’s first rooftop Jio Drive-In Theatre, an open-air weekend community market, pet-friendly services, a dedicated pop-up experience, and other bespoke services.

For $771 million Reliance New Energy Solar acquires REC Solar Holdings .

Business(REC-Rural Electrification Cooperation Ltd shares)

On October 10, Reliance New Energy Solar announced the acquisition of REC Solar Holdings for $771 million. “Reliance New Energy Solar Ltd (RNESL), a wholly – owned subsidiary of Reliance Industries Ltd (RIL), has announced the acquisition of a 100% shareholding in REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd., for an Enterprise Value of USD 771 million,” Reliance New Energy Solar said in a BSE filing.

Putin’s announcement of increased gas supplies to the EU is a cooperative gesture, according to experts.

Russia’s gesture

According to Paul Adam Isbell, a professor of political economy of climate change at Spain’s IE University, Russian President Vladimir Putin’s statement that energy giant Gazprom could increase gas supplies to Europe is a gesture to promote international energy cooperation for the benefit of all.

The Reserve Bank of India is looking to raise warning flags about decentralised financial applications.

Finance (cryptocurrency- Digitalized money)

According to two persons familiar with the situation, the Reserve Bank of India (RBI) is trying to red flag DeFi (decentralised finance) applications and initiatives and has sought legal guidance on how they function.

According to legal experts, India presently lacks any regulations governing cryptocurrency, much alone something as disruptive as DeFi.

Modi welcomes Denmark counterpart Mette Frederiksen.

Honorable welcome

Mette Frederiksen(prime minister of Denmark) is welcomed by Dr.Narendra Modi(prime minister of India) at Rashtrapati Bhavan(presidential house) in New Delhi,India.

The leaders of India and Denmark on Saturday signed agreements to intensify their cooperation in fighting climate change. PM Modi welcomed Danish Prime Minister Mette Frederiksen who is on a three-day visit to India.