Saturday, September 19, 2020
Business

SEBI steps to curb market volatility to continue till Oct 29

MUMBAI: The Securities and Exchange Board of India (SEBI) has extended, till October 29, the enforcement of regulatory measures aimed to contain market volatility amid the coronavirus pandemic.

The measures, first introduced in March, include limits on positions that can be taken up by investors in the futures and options (F&O) segment.

Bank of Baroda launches initiatives to improve tractor financing

New Delhi, Sep 18 (IANS) The Bank of Baroda on Friday announced three new initiatives towards improving credit penetration in farm mechanisation.

The initiatives are focused on providing better financial service to farmers and empowering them towards farm mechanisation, the bank said in a statement.

Pizza Hut calibrates future plans, expansion to continue

NEW DELHI: Undeterred by Covid-19's economic impact, QSR major Pizza Hut India will continue to focus on expanding its presence, especially in the Tier-I cities.

In a conversation with IANS, Pizza Hut India MD Merrill Pereyra elaborated that despite the Covid-19 pandemic's impact, the brand will move forward with its expansion plans.

Air India Express ops to Dubai to resume from Saturday

NEW DELHI: Air India Express operations to Dubai will be restored from September 19, the airline said late on Friday.

"All Air India Express flights from or to Dubai will operate as per original schedule w.e.f tomorrow, September 19, 2020," the airline said.

Yield on govt securities moderated sharply in Q1: Fin Min report

NEW DELHI: The additional public expenditure on account of the Covid-19 pandemic has pushed up government borrowing during the April-June quarter with the Centre issuing dated securities aggregating to Rs 3,46,000 crore as against Rs 2,21,000 crore in Q1 of FY20, according to quarterly report on public debt management brought out by the Finance Ministry.

Re 1 cess on petrol, diesel to fund Andhra road infrastructure

AMARAVATI: The Andhra Pradesh government on Friday introduced a Road Development Cess of Re 1 per litre on petrol and diesel to raise funds for developing the state road infrastructure, which is currently in a bad shape after heavy rainfall.

Implementation of the Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 with effect from 21st September 2020

NEW DELHI: The Customs (Administration of Rules of Origin under Trade Agreements) Rules, 2020 (CAROTAR, 2020), notified on 21st August, 2020, shall come into force from 21st September, 2020 upon completion of the 30 day period that was given to importers and other stakeholders to familiarize themselves with new provisions.

Quarterly Report on Public Debt Management - April to June 2020

NEW DELHI: Since April-June (Q1) 2010-11, Public Debt Management Cell (PDMC) (earlier Middle Office), Budget Division, Department of Economic Affairs, Ministry of Finance has been bringing out a quarterly report on debt management on a regular basis. The current report pertains to the quarter April - June 2020 (Q1 FY21).

Angel Broking's IPO opens on Sep 22, price band set at Rs 305-306

MUMBAI: Retail broking house Angel Broking Limited will open its initial public offering (IPO) of equity shares on September 22, 2020.

Kia Motors India launches its compact SUV Sonet

NEW DELHI: Automobile manufacturer Kia Motors India on Friday launched its first-ever compact SUV "Sonet" in India.

Despite crude on rebound, sharp cuts in fuel prices in India

NEW DELHI: Petrol and diesel prices in the country have fallen sharply again even though global oil prices rebounded and rose over $43 a barrel, marking its fifth consecutive day of rise.

India's First: IGIA now sports dedicated private jet terminal

NEW DELHI: The national capital's Indira Gandhi International Airport (IGIA) has entered into an exclusive league of global airports which sports a dedicated terminal for private jets.

In aviation parlance, such infrastructure facilities offer hassle free comfort and privacy to the flyers of private or charter jets or choppers.

Facebook unveils Business Suite to help SMBs grow on its apps

SAN FRANCISCO: To help small and medium businesses (SMBs), the social networking giant has introduced Facebook Business Suite -- a new interface to help businesses save time and stay up to date by managing their Pages or profiles across its family of apps.

IPL: Rana keen to learn leadership skill from Morgan

ABU DHABI: Kolkata Knight Riders (KKR) left-handed batsman Nitish Rana is looking forward to learn leadership skill from reigning England World Cup-winning skipper Eoin Morgan.

The 34-year-old Englishman will be joining KKR at the end of his team's T20 and ODI series against Australia. Morgan led England to their maiden World Cup glory in 2019. He was bought for Rs 5.25 crore at the IPL auction and is set to reunite with the franchise after his stint from 2011-2013.

Vistara: First airline to offer in-flight WiFi internet on B787-9

NEW DELHI: Full-service airline Vistara will offer in-flight Wi-Fi internet connectivity onboard international flights operated on Boeing 787 from September 18.

Accordingly, the service will be available on flights between Delhi and London Heathrow.

SP Group slaps notice for damages against directors of Tata Sons

NEW DELHI: The SP Group has slapped a notice for damages against the board members of Tata Sons, individually and collectively, questioning their
complicity in the decision to block the Mistry family from raising funds against the security of Tata Sons shares that they own.

How shifting to e-commerce has benefitted small businesses

SAN FRANCISCO: While financial challenges following lockdown orders have forced many small and medium-sized-businesses to shut shop, a number of SMBs have seen the benefits of shifting to e-commerce, a Facebook report said on Thursday.

Businesses that reported making over 25 per cent of their sales online were more likely to report higher sales than this time last year, said the "Global State of Small Business Report."

India Inc to raise more than Rs 50k crore from IPOs

NEW DELHI: At least 80 companies are in the process to tap the primary market to raise approximately Rs 51,515 crore equity capital in FY 2020-21 with benchmark indices up by 50 per cent since March and IPO listings getting strong demand from the public.

India Inc is rushing for the primary market by way of initial public offerings (IPOs). Interestingly, the rush for IPOs comes at a time when the GDP growth is badly hit, economic activity is muted but on the flip side capital markets are going strong.

Tax tribunal makes innovative and aggressive use of IT techniques to dispense faster justice in the field of Direct Taxes despite corona

NEW DELHI: The Income Tax Appellate Tribunal, a statutory quasi-judicial institution created under the Income Tax Act, 1961 and the second appellate authority dealing with disputes in the field of Direct Taxes and widely acclaimed as the ‘Mother Tribunal’, has been modelling itself on its motto of ‘Nishpaksh Sulabh Satvar Nyay’, meaning Impartial, Easy and Speedy Justice, by maintaining good disposal even during the COVID-19 Pandemic period. The innovative and aggressive use of techniques of Information Technology to dispense justice in the field of Direct Taxes in such times when physical hearing of cases was not found feasible on concerns of safety, etc. has been seamlessly adopted by the ITAT.

Employment Opportunities in Textile Sector

NEW DELHI: Textile Sector in India provides largest source of employment in the country with over 4.5 crore people employed directly and another 6 crores people in allied sector including large number of women and rural population through various schemes and public programmes such as:-

DGCA Undertakes Special Safety Audit of all Scheduled Airlines in India

NEW DELHI: The DGCA is carrying out special safety audit of all the scheduled airlines in the country. For the Airports, spot inspections at 13 licensed airports have been carried out during the monsoon season by the DGCA.

Regulatory audit of scheduled airlines is carried out every two years as per the Manual of Regulatory Audit. However based on the findings during surveillances, spot checks, complaints, voluntary report and severity of occurrence, risk based audits are carried out in the form of special audits.

India has Air Bubble Agreements with 10 Countries

NEW DELHI: India has entered into Air Bubble agreements with 10 countries viz. USA, Canada, France, Germany, UK, Maldives, UAE, Qatar, Afghanistan and Bahrain, till 13.09.2020.

Ministry of MSME re-activates the micro-industrialization process in Rural India

NEW DELHI: A few days ago, Ministry of Micro Small and Medium Enterprises (MSME), had announced expanding and doubling the support to Artisans who might be interested in making Agarbatti. Taking these efforts further, the Ministry has now come out with new guidelines for two more schemes which include ‘Pottery Activity’ and ‘Beekeeping Activity'.

Resume wage revision talks: Confed to GIPSA

CHENNAI: With the wage agreement concluded in the banking sector, the National Confederation of General Insurance Officers' Associations (Confed) has urged the General Insurance Public Sector Association (GIPSA) to hold wage revision talks.

Equities in red, Sensex down over 100 points

MUMBAI: The key Indian equity indices traded in the negative territory on Thursday morning with the BSE Sensex trading 139 points lower.

Trump makes headway among Indian-Americans, but Biden has huge lead

NEW DELHI:An overwhelming majority of Indian-Americans will be voting for the Democratic Party presidential candidate Joe Biden, whose running mate is Kamala Harris, according to a voter survey, but President Donald Trump has also made a double-digit increase in support among the community.

No property registration sans 'no dues certificate' in Gurugram

GURUGRAM: The Municipal Corporation of Gurugram (MCG) has decided not to allow registration of properties, which have taxes and dues pending against them.

The civic body will soon introduce a software at all MCG and Tehsil offices in Gurugram, which will keep track of such properties.

US stocks end mixed as tech shares lag

NEW YORK: US stocks closed mixed as tech shares struggled, weighing on the market.

On Wednesday, the Dow Jones Industrial Average increased 36.78 points, or 0.13 per cent, to 28,032.38. The S&P 500 fell 15.71 points, or 0.46 per cent, to 3,385.49. The Nasdaq Composite Index decreased 139.85 points, or 1.25 per cent, to 11,050.47, Xinhua news agency reported.

Riding High: Honda2Wheeler sees healthy Sep dispatches, southern support

NEW DELHI: A raging pandemic along with a phase of astrologically inauspicious time period does not seem to bother Honda Motorcycle & Scooter India which foresees accelerated demand and dispatches for September.

According to Yadvinder Singh Guleria, Director, Sales and Marketing, HMSI, ease in Covid restrictions, current stock levels at the dealerships and high customer enquiries have bolstered the recovery prospects.

SpiceJet launches cargo services to various NE cities

NEW DELHI: Airline major SpiceJet on Wednesday said it has launched 14 new cargo flights to and from the northeast India using its Bombardier Q400 freighters.

"The dedicated cargo flights will help transport fresh fruits, vegetables, flowers, perishables, fish seeds, fresh fish, pharmaceuticals, medical equipment, express cargo and other general cargo," the airline said in a statement.

Markets maintain gains on global cues, auto stocks rise

MUMBAI: The Indian stock market maintained its gaining streak on the back of positive global cues along with robust buying sentiment.

The trade session on Wednesday witnessed healthy buying activity across sectors, especially in IT, healthcare, automobile and realty stocks.

Pending GST refunds, MEIS dues hurting exporters: EEPC India

NEW DELHI: Engineering export body EEPC India on Wednesday said that pending GST refunds along with MEIS dues are hurting exporters.

According to EEPC India, besides fighting a battle for survival in the Covid-19 hit global market, exporters are facing a tedious and tiring process of g etting GST refunds and the MEIS entitlements due for the period much before a Rs 2 crore limit was fixed under the government's flagship scheme.

Govt is amending Banking Regulation Act to benefit depositors: FM

NEW DELHI: The government has brought amendments to the Banking Regulation Act, 1949 in order to protect the interests of the depositors, Union Finance Minister Nirmala Sitharaman said in Parliament on Wednesday.

The Finance Minister said the government is trying to bring amendments in order to protect the interest of depositors who in the last two years have been put to hardships.

Tata Projects successfully bids for constructing Parliament's new building

NEW DELHI: Construction major Tata Projects has won the bid to build the new Parliament building here in the national capital.

According to a company spokesperson: "We have emerged as the a 'L1' (lowest bidder) in the comprehensive bidding process and are first in line to be awarded this prestigious contract to construct the new building of the Parliament."

5G adoption a booster for smartphone application processor market

NEW DELHI: The smartphone application processor (AP) market that declined 26 per cent in the second quarter this year is set to be on a growth trajectory from 2021 onwards as 5G adoption reaches emerging markets, according to a new report.

A mobile application processor is a system on a chip (SoC) designed to support applications running in a mobile operating system environment.

Markets open on positive note

MUMBAI: The 30-scrip Sensitive Index (Sensex) on Wednesday opened marginally higher.

The BSE Sensex opened at 39,161.01, touched a high of 39,161.40 and a low of 39,037.96.

Canada welcomes US decision to drop aluminum tariff

OTTAWA: Canada welcomed the US decision to drop tariff on Canadian aluminum imports.

At a press conference in Ottawa Tuesday afternoon, Canadian Deputy Prime Minister and Finance Minister Chrystia Freeland welcomed the decision. "This is really a day when common sense has prevailed."

Freeland stressed that the US decision was not a negotiated agreement with Canada and the US government acted "unilaterally" and Canada does not accept the imposition of quotas.

Lakshmi Vilas Bank, Clix completing due diligence on proposed deal

NEW DELHI: Lakshmi Vilas Bank and Clix Group have substantially completed the due diligence on a proposed amalgamation of the financial services company with the bank.

In June, Lakshmi Vilas bank had signed a preliminary, non-binding letter of intent (LoI) with Clix Capital Services Private Limited and Clix Finance India Private Limited, collectively the Clix Group, in relation to the proposed amalgamation of Clix Group with the Bank.

First 'Kisan Rail' between B'luru, Delhi to run from Sep 19 to Oct 19

BENGALURU: The South Western Railway said that the first 'Kisan Rail' from Karnataka, between Bengaluru and Delhi, will run from September 19 to October 19.

According to the SWR release on Tuesday, the Kisan Rail are trains with multi commodities, multi-consignors and multi-consignees. "The train will run via Mysuru, Hubbali and Pune, and will make five trips," it added.

Oil theft from transformers disrupting power supply: BSES

NEW DELHI: Power discom BSES on Tuesday said that oil, amounting to around 88,000 litres, has been stolen from over 120 transformers in BSES areas in the last 18 months, causing inconvenience to the consumers along with monetary loss to the company.

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