Monday, January 24, 2022
Business

Modi most approved leader in the world with 71% rating

NEW DELHI: Prime Minister Narendra Modi has emerged as the most popular leader in the world among adults with 71 per cent rating, leaving behind prominent global leaders like US President Joe Biden, UK Prime Minister Boris Johnson, French President Emmanuel Macron German chancellor Olaf Scholz and others, revealed a survey.

Libya, Turkey sign agreement on youth capacity building

TRIPOLI: The Libyan Minister of Youth Fathallah Al-Zani has signed an agreement on capacity building for youth with the Turkish Minister of Youth and Sports Mehmet Kasapoglu.

India extends ban on international commercial flights till Feb 28

NEW DELHI: India's civil aviation regulator, the DGCA, on Wednesday extended the ban on scheduled international commercial flights till February 28, 2022.

Jio surpassed BSNL to become the country's largest fixed broadband provider

NEW DELHI: JioFiber added 0.19 million subscribers to become the number 1 operator in the fixed broadband segment in just about two years from commercial launch, with 4.34mn FBB subs.

Spain joins India, Singapore to tame cryptocurrency ads

NEW DELHI: With an aim to reign in cryptocurrency ads promising wild returns, Spain has now joined countries like Singapore and India, stressing that the advertising of crypto-assets must be clear, balanced, fair and explain risks to the public.

Meta appoints e-com director for India market

NEW DELHI: Meta (formerly Facebook) on Tuesday appointed Meghna Apparao as the Director of e-commerce in India to lead the strategy and solutioning that is focused on the company's e-commerce advertisers.

New Beijing airport expected to handle 2.8mn trips during Spring Festival

BEIJING: The new Beijing Daxing International Airport is expected to handle 2.8 million passenger trips during the Spring Festival travel rush that started on Monday, sources said.

Electricity prices in Finland hit record high in 2021

HELSINKI: N Wholesale electricity prices in Finland hit a record high in 2021 as power consumption returned to pre-pandemic levels, the national broadcaster Yle reported.

Amazon aggregator Thrasio to infuse Rs 3,750 cr in buying Indian brands

NEW DELHI: Thrasio Holdings Inc, an aggregator of private brands on Amazon, on Friday said it will invest Rs 3,750 crore (nearly $500 million) to acquire leading digital-first brands in India.

Has IPO-bound OYO regained trust of its hotel partners?

NEW DELHI: As travel tech major OYO prepares for its much-awaited public listing, the continued satisfaction of its hotel partners and winning back dissatisfied partners will play a key role in determining how its business performs and, by extension, how its stock holds up.

Amazon deceived CCI, arbitration with Future governed by Indian law can't continue: Experts

A Division Bench of the Delhi High Court has stayed arbitration proceedings initiated by Amazon against the Future group in relation to a 2019 investment by Amazon in a Future group company. The High Court, after hearing the parties for over two hours, passed an order recording that a prima facie case for interim relief had been made out by the Future group.

India, UK discuss trade, investment, security

NEW DELHI: External Affairs Minister Dr S. Jaishankar on Monday discussed various issues including trade, investment, and security with his UK counterpart Liz Truss.

Amazon moves SC challenging Delhi HC stay on arbitration with Future Group

NEW DELHI: In a new development in the Amazon vs Future Group legal battle, the global e-commerce company has moved the Supreme Court against the Delhi High Court order, which stayed the ongoing arbitration proceedings with the Future Group, in connection with the 2019 deal between the firms.

DMRC now says it has Rs 6,208 Cr in cash balances in various accounts, against DAMEPL dues of Rs 6,268 Cr

NEW DELHI: To avoid contempt, DMRC on Monday filed an urgent affidavit in Delhi High Court disclosing details of all its bank accounts having funds worth Rs 6,208 crore.

India-UAE trade booms--volume to touch USD 100 billion in 5-8 years

NEW DELHI: The volume of the bilateral trade between India and the United Arab Emirates (UAE) is tipped to increase from $60 billion to $100 billion in the next 5-8 years in tune with the growing partnership between the two countries.

Apple CEO earned $98.7 mn in stock, salary in 2021: Report

SAN FRANCISCO: Apple CEO Tim Cook's earnings totalled $98.7 million in base salary, stock and other compensation in 2021, media reports said.

India's high import tariffs negating PLI, impacting competition: ICEA

NEW DELHI: As India doubles down on local manufacturing, the country's import tariffs in the electronics sector are still way higher than China, Vietnam and other economies, which is negating the performance-linked incentive (PLI) scheme and adversely impacting competitiveness and scale, a new study showed on Thursday.

LIC assets at $463 bn exceeds the GDP of several economies

NEW DELHI: LIC assets at $463 billion exceeds the GDP of several economies, and it is ranked 5th globally in terms of life insurance GWP and 10th globally in terms of total assets.

ED attaches property worth Rs 26.25 crore of DPIL

NEW DELHI:The Enforcement Directorate (ED) on Monday said that they have provisionally attached immovable assets worth Rs 26.25 crore in form of land, residential and commercial properties of Diamond Power Infrastructure Ltd and others in a bank fraud case. With this, the total attachment in the case has gone up to Rs 1,128.97 crore.

Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore

NEW DELHI: India's GST collection rose 13 per cent in December 2021 on a year-on-year basis to Rs 1,29,780 crore.

Tax raids at UP businessmen: Balance sheets from FY 2016-2021 being examined

NEW DELHI:The Mumbai Income Tax team, which is conducting raids at the premises of Uttar Pradesh businessmen Pushapraj Pampi Jain, Anup Jain, Mahavir Prasad, Faizan Malik and Malik Mian, have collected a lot of evidence against them and are examining the balance sheets of FY 2016-2021.

India gets 1st unicorn of 2022 in Mamaearth parent Honasa

GURUGRAM: Digital-first consumer brands platform Honasa, that owns personal care brands like Mamaearth, on Saturday said it has raised $52 million led by Sequoia, becoming the first Indian unicorn of 2022.

Sisodia demands increased share in central tax for Delhi

NEW DELHI:Citing Covid-induced inflation as the reason, Delhi Deputy Chief Minister Manish Sisodia has urged the Centre to increase the national capital's share in the central tax, as it has been getting only Rs 325 crore for the last 21 years and said it is unfair to the Union Territory.

Sisodia to oppose proposed tax hike on textile in GST Council meeting

NEW DELHI: Delhi Deputy Chief Minister Manish Sisodia will raise the demand to withdraw the increased tax on textiles from earlier 5 per cent to the proposed 12 per cent in the GST (Goods and Services Tax) Council meeting on Friday.

FCI to do away with open storage completely by March 2022

NEW DLEHI: The Food Corporation of India (FCI) on Thursday declared that it would do away with open storage completely and go for only CAP (covered and plinth) storage by March 2022.

 Ola Electric to have 4,000 EV charging points in 2022: CEO

NEW DELHI: As part of its ambitious charging infrastructure goal, Ola Electric will install more than 4,000 charging points for its electric scooters across cities in next year.

ITC commissions 14.9MW solar plant in TN

CHENNAI: Multi-business company ITC Ltd on Tuesday said it has commissioned a 14.9 MW solar power plant in Dindigul, Tamil Nadu.

Air India wins legal battle in English Court of Appeal

NEW DELHI:National carrier Air India has won a significant legal battle in a case of a passenger dispute in the UK.

US FDA approves 1st oral pill by Pfizer to treat Covid

WASHINGTON: As Omicron variant spreads globally, the US Food and Drug Administration (FDA) has issued an emergency use authorisation (EUA) for the Pfizer antiviral pill to treat Covid-19 along with caution for people with certain pre-existing conditions -- heralding a new era for the future, over-the-counter treatment of the deadly respiratory disease that has killed millions.

P&G recalls shampoos, conditioners in US which may contain benzene

NEW DELHI: Procter & Gamble is recalling aerosol dry shampoo and conditioner spray products from half a dozen brands sold in the US after finding benzene in some of them, CBS News reported.

IPO-bound OYO defies pandemic, set to meet investors' expectations

NEW DELHI: As the pandemic ravaged several industries, especially the tourism and travel sector, a few enterprises used the situation to rebuild from scratch, at the cost of making certain painful short-term decisions. IPO-bound Oravel Stays Ltd, or OYO, is one such example that revamped its operations and business strategies to not only stay afloat but also emerge stronger.

Indian Sellers Collective welcomes CCI's action against Amazon

NEW DELHI: Indian Sellers collective, an umbrella body which brings together leading trade associations and representative bodies of sellers across the country, has welcomed the decision of the Competition Commission of India (CCI) to suspend Amazons 2019 deal with the Future Group.

Tesla plans to invest over $10 bn in Gigafactory Texas: Musk

SAN FRANCISCO: Tesla CEO Elon Musk has said that its electric vehicle company is planning to invest over $10 billion in Gigafactory Texas and will eventually employ 20,000 workers.

Global debt reaches record $226tn in 2020 amid Covid: IMF

WASHINGTON: Global debt rose to a record $226 trillion in 2020 as the world was hit by the raging Covid-19 pandemic and a deep recession, the International Monetary Fund (IMF) announced.

UAE suspends $ 23 bn fighter jets deal after US wanted restrictions on Abu Dhabi ties with China

NEW DELHI: The UAE has informed the US that it will suspend discussions to acquire F-35 fighter jets as part of a $23 billion deal that also includes drones and other advanced munitions, Daily Mail reported.

Amazon faces questions over safety at Illinois warehouse destroyed by tornado

NEW YORK:Amazon is facing questions over health and safety policies at a warehouse in the US state of Illinois, which was destroyed by a powerful tornado resulting in the deaths of six workers, the BBC reported.

World Bank offers $600mn loan to boost Philippines' recovery

MANILA: The World Bank on Saturday approved a $600 million loan to support the Philippine government's reform programme to position the Southeast Asian country for a competitive and resilient economic recovery.

Zomato leads Rs 1,380 Cr funding by logistics platform Shiprocket

NEW DELHI: Logistics technology platform Shiprocket on Friday said it has signed a definitive agreement for a $185 million (Rs 1,380 crore) Series E funding round, co-led by Zomato, Temasek and Lightrock India.

ADB approves $603mn to boost Pak's social protection programmes

ISLAMABAD: The Asian Development Bank (ADB) said that it has approved a $603 million results-based lending programme to strengthen and expand social protection programs in Pakistan.

Punjab National Bank contributes Rs 11 Lakh to the Armed Forces Flag Day Fund

NEW DELHI: Punjab National Bank (PNB), one of India’s leading public sector banks, today announced a contribution of Rs 11 lakh towards the Armed Forces Flag Day Fund (AFFDF) to honour the ex-servicemen belonging to the country’s three defence wings.

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