Wednesday, April 21, 2021

Petrol, diesel price unchanged for 6th consecutive day

NEW DELHI: Fuel prices in the country remained unchanged on Wednesday as oil marketing companies decided to go on a pause mode and analyse the global developments on oil prices before effecting a revision.

itel and Jio to bring in superior mobile experience for Bharat

NEW DELHI: itel is all set to enter into an exclusive partnership with Reliance Jio to bridge the digital divide by offering affordable mobile-based connectivity solutions for the new India -- Bharat.

Twitter appoints Apurva Dalal as Director of Engineering in India

NEW DELHI: Twitter on Tuesday announced to appoint Apurva Dalal as Director of Engineering in India, as the micro-blogging platform expands its engineering team in the country, a priority market and one of its fastest growing markets globally.

Maruti Suzuki dispatched 1.8L units via railways in FY21

NEW DELHI:Automobile major Maruti Suzuki India transported more than 1.8 lakh vehicles in 2020-21 using Indian Railways, the company said on Tuesday.

'Tapping food processing sector to support agrochem industry'

NEW DELHI: Agrochem company Insecticides (India) Ltd has said that government's focus on the food processing industry will also support the agrochemical industry.

Cloud, AI and data to transform India in next decade: Nilekani

NEW DELHI: Although there is an acceleration in tech adoption and innovation across sectors in India, the key challenge now is to scale new-age technologies like Cloud, AL/ML and data in a way that these can empower more than a billion people in the next decade, global IT major Infosys co-founder and Chairman Nandan Nilekani said on Tuesday.

India to be third contributor to global GDP by 2040: US report

NEW DELHI: While China will overtake the United States as the largest economy in the world by 2040, India will be a distant third contributor to the global GDP.

IndianOil starts oxygen supply to Delhi, Haryana, Punjab

NEW DELHI: India's largest refiner, Indian Oil Corporation (IndianOil), on Monday said it has begun the supply of 150 MT of medical oxygen at "no cost" to various hospitals in Delhi, Haryana and Punjab.

BPCL starts supply 100 MT of medical grade oxygen to hospitals

MUMBAI: Oil marketing major BPCL has started the supply of medical grade oxygen to hospitals at 'no cost' in the view of shortage impacting critical patients of Covid-19.

Ashok Gehlot govt bets big on renewable energy

JAIPUR: In the first Board of Investment (BOI) meeting chaired by CM Ashok Gehlot on Monday, Rajasthan Government cleared the customised package of incentives for investment worth over Rs. 1,67,000 crore in the state, of which the major contributor sector is renewable energy.

India to become top EV producer in due course: Gadkari

NEW DELHI: Union Road Transport and Highways Minister Nitin Gadkari on Sunday said that India will become the top electric vehicle (EV) manufacturing hub in due course of time.

JSW Steel ramping up supplies of medical oxygen

NEW DELHI: JSW Steel said on Sunday that the company is supplying oxygen for medical purposes as a priority in response to the current crises.

HDFC Bank's Q4 standalone net profit rises over 18%

MUMBAI: Lending major HDFC Bank on Saturday reported an 18.2 per cent increase in its standalone net profit for the fourth quarter of FY21 ended March 31, 2021 on a year-on-year (YoY) basis.

Fiscal package may be on cards to maintain economic recovery amid Covid 2.0

NEW DELHI:A fiscal stimulus package may be on the cards again as the government looks at ways to prevent the present surge in Covid-19 cases and the ensuing restrictions imposed by the states from derailing the economic recovery.

Russia to expel US diplomats, puts officials on no-entry list

MOSCOW: Moscow plans to expel 10 diplomats from the US and ban several high-ranking officials from entering Russia, in retaliation for sanctions imposed by Washington this week.

SEBI penalises 2 brokerages in NSE Co-Location case

MUMBAI: Capital market regulator SEBI has fined brokerage firms, PRB Securities Private Ltd and CPR Capital Services, in the NSE Co-Location matter for violation of norms.

Regulation of insolvent firms' shares still remains a dilemma

NEW DELHI:As India's Insolvency and Bankruptcy Code (IBC) evolves at a fast pace, a hard nut to crack for the market regulator has come up with regulations in terms of trading in the shares of companies going through resolution under IBC.

Korean Govt-led trade panel meets Sikkim Commerce minister to explore investment avenues

NEW DELHI: South Korea is keen on exploring investment opportunities in North Eastern state of Sikkim in multiple sectors including renewable energy, pharmaceutical, food processing, tourism.

You may actually be 'dissaving' by putting money in savings instruments

MUMBAI:You may not have noticed it but the actual interest rate that you are getting on your bank deposits and investments in small savings schemes has fallen into the negative territory.

Invited Tesla to manufacture EVs in India: Gadkari

NEW DELHI: Union Road Transport and Highways Minister Nitin Gadkari on Thursday said that he has invited electric vehicle (EV) major Tesla Inc to start manufacturing EVs in India.

Amazon launches $250 mn fund to support Indian startups

NEW DELHI: E-commerce major Amazon on Thursday announced a $250 million fund -- Amazon Smbhav Venture Fund -- to invest in startups and entrepreneurs focusing on technology innovations in SMB digitisation, agriculture and healthcare.

India's WPI inflation rises to 7.39% in March

NEW DELHI: India's annual rate of inflation based on wholesale prices sequentially rose to 7.39 per cent in March from a rise of 4.17 per cent in February.

Infosys to buy back shares worth Rs 9,200 crore

Faceless assessment scheme may revert to physical mode for large taxpayers

NEW DELHI: The government's faceless tax assessment scheme will switch back to the traditional physical mode, at least for large taxpayers, as the department is not getting adequate responses from assessees on its online communication and notices issued electronically.

Bharti Airtel restructures its corporate structure

NEW DELHI: Bharti Airtel on Wednesday announced a new corporate structure with focus on four verticals -- Digital, India, International and Infrastructure.

Mutual funds' AUM surges 41% to Rs 31 lakh cr in FY21

MUMBAI: Assets under management (AUM) of the mutual fund industry witnessed a growth of 41 per cent in the last financial year to touch a new high of Rs 31.4 lakh crore.

Masala Flakes: Kellogg to offer more Indianised products

NEW DELHI: Breakfast cereal category major Kellogg India is set to expand its portfolio with more Indianised products which are suited to local palates.

Companies raise Rs 1.6L cr from primary market in FY21

MUMBAI: As the pandemic hit business activities and liquidity flows, companies raised funds worth Rs 1.6 lakh crore from the primary market in the last financial year through initial public offerings (IPO), offer for sale (OFS), follow on public offering (FPO) among other routes.

Pilots' body seeks stay on breath analyser tests amid Covid

NEW DELHI:The Indian Commercial Pilots' Association (ICPA) has sought temporary suspension of pre-flight breath analyser test to curb the transmission of coronavirus amid the rising number cases in the country on a daily basis.

'Covid variants pose biggest threat to US economic recovery'

NEW YORK:Variants of the novel coronavirus are the biggest risk for the US economic recovery, Minneapolis Federal Reserve Bank President Neel Kashkari has said.

GST recovery, petro taxes help Centre improve tax collections

NEW DELHI: Good news is flowing for the government on the tax front with net indirect tax collections (GST & non-GST) registering a 12.3 per cent increase in FY21 largely on account of increased excise collections from petroleum products and improved GST inflows.

Vivek Kanade named Managing Director of Siemens Healthcare

MUMBAI: Siemens Healthcare Private Ltd, a wholly-owned subsidiary company of global medtech company Siemens Healthineers AG, has elevated Vivek Kanade as its Managing Director.

Lack of blood test doesn't bar insurer from seeking intoxication exemption: SC

NEW DELHI: The Supreme Court on Monday held that lack of scientific material, blood tests or breath analyser results will not prevent insurance companies from establishing a case for exclusion from liability under ground of intoxication in a contract.

Rupee drops below 75/$ amid surging Covid cases

MUMBAI:The Indian rupee continued to depreciate for the sixth consecutive day, breached the 75 per US dollar mark amid rising cases of Covid-19 and concerns of fresh localised lockdowns.

AEPC urges govt for uninterrupted manufacturing at factories

NEW DELHI:Concerned over possible imposition of lockdowns due to a resurgence in coronavirus infections, the Apparel Export Promotion Council (AEPC) has urged the government to keep factories free from lockdowns and requested for essential service sector tag for the labour-intensive apparel export industry.

Retail inflation rises in March, food prices soar

NEW DELHI: India's retail inflation marginally rose in March as the Consumer Price Index (CPI) increased to 5.52 per cent from 5.03 per cent in February.

Govt to frame new electricity policy

NEW DELHI:The Power Ministry has set up an expert panel to prepare the Draft National Electricity Policy 2021.

CAIT calls for staggered timings for different sectors amid Covid surge

NEW DELHI: Amid rising Covid cases and talks of restrictions and partial lockdowns, the Confederation of All India Traders (CAIT) has written to Prime Minister Narendra Modi suggesting staggered working time for different sectors.

Centre may redraw bank recapitalisation plan in wake of new challenges

NEW DELHI: The government may redraw the recapitalisation roadmap for public sector banks (PSB) in the current fiscal as the institutions face additional burden to meet interest on interest obligation for all its borrowers while changes in valuation norms AT1 bonds by Sebi will make the instrument less attractive for banks to raise their capital.

Risky assets will benefit in next 100 days of Biden admin: JP Morgan

NEW YORK: Global investment analysts at a closed door JP Morgan huddle are betting that "risky assets" will cruise, market volatility will decline, asset bubbles are still far away in the broader equity market and that US president Joe Biden will remain focused on "supercharging" the US economy before midterm elections in 2022.

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