Latest news with #LetterofIntent
Yahoo
4 days ago
- Business
- Yahoo
Global mayors discuss green, youth development in Shanghai
SHANGHAI, May 30, 2025 /PRNewswire/ -- A news report from Mayors and representatives of 26 cities across 22 countries have gathered in Shanghai for the ongoing Global Mayors Dialogue and the 2025 Shanghai International Friendship Cities Cooperation Forum, which kicked off on May 28. Sub-forums are themed "Urban sustainable development empowered by green and low-carbon strategies" and "Youth vitality inspiring urban innovation for the future". The forum runs until May 31. Gong Zheng, mayor of Shanghai, said at the opening ceremony on May 29 that having established friendship-city relationships with 95 cities in 59 countries, Shanghai will continue to expand its network of friendship cities, explore new models of cooperation, and elevate exchanges and cooperation to a new level. "We will focus on expanding economic and trade exchanges, promoting green transformation and upgrading, strengthening scientific and technological collaborations, and enhancing mutual understanding between people," he said. Haris Doukas, mayor of Athens, Greece, stressed the role of city diplomacy in tackling the climate crisis. "City diplomacy has allowed cities to lead the way, to achieve important partnerships for prevention, to share knowledge, to set brave and specific goals through participation in international networks and forums, and to reduce the burdens of the climate crisis," Doukas said. Shanghai and Athens established a friendship-city relationship in January. "Climate change is the defining challenge facing our shared world today," said Dan Boyle, lord mayor of Cork, Ireland, adding that "the spirit of international cooperation, which informs gatherings like today, can give us some optimism that this challenge facing all of humanity will be met." On the same day, the Letter of Intent for Friendly Cooperation and Exchanges was signed between Shanghai and Vientiane, the capital of Laos, while the MoU on the Establishment of Friendly Exchanges was signed between Shanghai and Tbilisi, Georgia. View original content to download multimedia: SOURCE Sign in to access your portfolio
Barnama
7 days ago
- Politics
- Barnama
Indonesia, France To Sign Defence Deal During Macron's Visit
By Mohd Iswandi Kasan Anuar JAKARTA, May 28 (Bernama) -- Indonesia and France seek to deepen their strategic defence ties with the signing of a Letter of Intent (LoI) during French President Emmanuel Macron's state visit to Jakarta on Wednesday, officials said. The agreement aims to expand cooperation in defence, particularly in the area of strategic weapons systems, Indonesian Defence Minister Sjafrie Sjamsoeddin said in a statement after welcoming Macron and First Lady Brigitte Macron. bootstrap slideshow 'We will be enhancing defence cooperation, especially in relation to strategic defence equipment,' Sjafrie said. As part of his three-day visit ending on Thursday, Macron is scheduled to travel to the Military Academy in Magelang, Central Java, where he will inspect French language training facilities for Indonesian military personnel. 'He will visit the French language laboratory used by soldiers, officers, and non-commissioned officers of the Indonesian National Armed Forces (TNI). Many of them are already fluent,' Sjafrie added. Macron's aircraft touched down in Jakarta at around 10 am local time on Tuesday and was received with a ceremonial welcome. His visit marks a renewed effort to boost bilateral ties across key strategic sectors, with defence high on the agenda. -- BERNAMA
Time of India
27-05-2025
- Business
- Time of India
Olectra Greentech shares tank 13% as Maha gov reportedly cancels big e-bus order
Shares of Olectra Greentech nosedived nearly 13% to an intraday low of Rs 1,180 on the BSE on Tuesday, reportedly due to the cancellation of a big order from the Maharashtra government over the delivery of electric buses. Maharashtra's Transport Minister, Pratap Sarnaik, posted on the social media platform X that the contract for electric buses in Bhandetali should be scrapped due to procedural lapses, though he did not name the company involved. While Sarnaik refrained from naming the firm, the market reaction pointed clearly at Olectra Greentech, which, along with its consortium partner Evey Trans Private Limited (EVEY), had previously received a Letter of Intent (LOI) from the Maharashtra State Road Transport Corporation (MSRTC). Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. 'The decision has been taken to cancel the tender awarded to the company operating 150 electric buses in Bhandetali due to serious discrepancies. A fresh tender will be issued soon,' Sarnaik wrote in a post on X. The LOI, received by the company earlier in 2023, pertained to the supply, operation, and maintenance of 5,150 electric buses, along with allied electrical and civil infrastructure, under a Gross Cost Contract (GCC) model. Live Events According to the company's exchange filing at that time, the total order value stood at approximately Rs 10,000 crore, nearly equal to Olectra's market capitalization at the time of announcement. Also read: IndiGo shares slip 3% as co-founder Rakesh Gangwal likely offloads Rs 11,988 crore stake via block deal EVEY was expected to procure these buses from Olectra, with deliveries spread across 24 months. Maintenance responsibilities were also assigned to Olectra for the duration of the contract. Olectra Greentech share price performance Over the past one year, the stock has declined by 30.21%. On a year-to-date (YTD) basis, it is down 15.06%, while the six-month return shows a drop of 19.67%. In contrast, the stock has gained 12.16% over the last three months and 4.60% in the past one month, indicating a short-term recovery amid long-term weakness.
The Hindu
26-05-2025
- Business
- The Hindu
University of Liverpool to open campus in Bengaluru; admission from next year
Union Education Minister Dharmendra Pradhan presided over the Letter of Intent (LoI) handover ceremony to the University of Liverpool on Monday (May 26, 2025) in New Delhi. This is the second foreign university to be issued an LoI under the UGC (Setting up and operation of campuses of foreign higher educational institutions in India) Regulations, 2023. He said the LoI reaffirms India's emergence as a trusted partner in global higher education. He said it is another milestone in India's journey of deepening academic partnerships with leading global universities — an aspiration embedded in the National Education Policy, 2020. Mr. Pradhan urged to focus on areas like R&D and innovations, and stated that it is noteworthy that the University of Liverpool will focus on STEM-related research leading to innovation. He highlighted that it is the fourth foreign university to publicly announce its presence in India. The university will open its campus in Bengaluru. By this academic year, 15 foreign universities will be coming to India, especially in STEMB (Science, Technology, Engineering, Medicine, and Business), he added. Vineet Joshi, UGC Chairman, said that the University of Liverpool has received formal approval from the UGC to open the first foreign university campus in Bengaluru. The inaugural cohort of undergraduate and postgraduate students will join the university in August 2026, initially offering programmes in business management, accounting and finance, computer science, and biomedical sciences. It will also introduce a programme in game design — a unique offering for a U.K. university campus in India to offer this innovative subject. The Bengaluru campus will create a research-intensive environment. Important fundamental, applied, and industry-driven research will be based on the Bengaluru campus, providing solutions to a range of global and local challenges and needs. Indian students will also have access to the global mobility scheme, providing important opportunities for academic, professional and personal development both in Liverpool and across the world.
Hindustan Times
26-05-2025
- Business
- Hindustan Times
UK's University of Liverpool is coming to Bengaluru: VC Tim Jones shares what's ahead for Indian students
In a landmark development for India's higher education sector, the University of Liverpool has received formal approval from the University Grants Commission (UGC) to open the country's first foreign university campus in Bengaluru. The announcement was made at an event attended by Union Education Minister Dharmendra Pradhan on Monday, 26 May. Part of the UK's prestigious Russell Group, the University of Liverpool will welcome its first batch of undergraduate and postgraduate students in August 2026. Speaking to HT Digital at the launch event, Vice-Chancellor Professor Tim Jones shared the vision behind the initiative, what Indian students can expect, and how the new campus fits into the university's global expansion plans. We are a global university, and forming international partnerships is integral to our DNA and strategy. We've had an overseas campus in China—XJTLU—for nearly 20 years, which now serves 27,000 students. So, we have a proven track record of launching and sustaining successful international campuses. In India, we've been deepening collaborations, especially in research, with several institutions over the years. The University of Liverpool is also one of the largest recruiters of Indian students among Russell Group universities, with around 1,000 postgraduates enrolling annually. With recent policy changes enabling international universities to establish campuses in India, we saw an ideal opportunity to strengthen our footprint. Bengaluru was a natural choice due to our existing partnerships and the city's dynamic ecosystem. Vision 2031 marks our 150th anniversary, and our ambition is to become a Top 100 global university by then. International partnerships—whether in research, education, or academic collaborations—are key pillars of that strategy. India, with its vibrant economy and demographic advantage, offers immense potential. Our increased engagement here supports our globalisation goals and opens real opportunities for impactful collaborations. Bengaluru stood out because many of our existing collaborations are based here, such as with IISc, NIMHANS, and companies like Unilever. It's a tech-driven city with a large, young population seeking quality education. The Letter of Intent lays the groundwork for our Bengaluru campus, which will open in August 2026 and begin teaching in September. We aim to grow the campus to 10,000 students within 10 years. Initial programmes will include computer science, data and AI, business management, accounting and finance, biomedical sciences, and game design. These will mirror what we offer in Liverpool but be tailored to local industry demands. Yes, the curriculum will maintain the same academic standards, with contextualisation to suit the Indian and regional ecosystem. It will be a hybrid model. A few faculty members will come from Liverpool, but the majority will be recruited locally. All faculty will meet our high academic standards. Absolutely. Just as we do in Liverpool, we'll implement a comprehensive training programme. A Provost will lead the Bengaluru campus and oversee faculty recruitment, training, and quality assurance. Yes. We intend to offer flexible pathways, including opportunities for students to spend part of their course at our Liverpool campus. This has worked well at our China campus, and we aim to replicate it here. Yes, student mobility is a key part of our global education model. While most students are expected to be from India, we envision this as a global campus. Diversity is important to us, and we aim to attract students from different parts of the world. We have experience doing this globally—whether in Liverpool or in China. The Provost will also be responsible for fostering an inclusive and welcoming environment for all students. They'll access a world-class, research-intensive education at a more affordable cost. The degree will be identical to what students receive in Liverpool, and we'll offer strong industry linkages, internships, and research opportunities. Yes. The two campuses will be deeply integrated. Faculty and researchers will collaborate across locations, and Bengaluru will become a hub for joint research activities. Yes, fees in Bengaluru will reflect local economic conditions. The full fee structure will be announced soon. Definitely. We're already working with IISc, NIMHANS, AIIMS, and companies like Unilever. We'll continue expanding these collaborations across disciplines. Employability is a top priority. We'll leverage our Liverpool experience to offer internships, placements, and industry exposure. We've signed MoUs with several organisations and will build a strong support system for student careers. We expect to have 5,000 students by 2030, expanding to 10,000 by 2036. We'll offer a wide range of programmes, collaborate closely with industry and academia, and create a globally connected, thriving education and research environment in Bengaluru. The campus will feature modern academic buildings, research centres, student residences, and essential amenities. It will have the look, feel, and academic rigour of our Liverpool campus. More details will be shared soon. Yes, we plan to offer scholarships. Specifics will be announced well before admissions open so students can plan ahead.
