India

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The partnership has been forged to address the woes of litchi and mango cultivators in the state due to the lockdown to contain the spread of coronavirus The India Post has partnered with the Bihar government to deliver 'Shahi Lichi' and 'Zardalu Mango' at the doorstep of people in Patna, Muzaffarpur and Bhagalpur, the department said in a statement on Sunday.....


Anil Ambani, chairman of the ADA group, can challenge the order by the Commercial Division of the High Court of England Anil Ambani, chairman of the ADA group, can challenge the order by the Commercial Division of the High Court of England and Wales, London, which said a personal guarantee disputed by Ambani is binding on him, say corporate lawyers. At the same time, Chinese banks will have to move Indian courts to enforce the order in …


The comment comes on the backdrop of the reports that a number of global giants are looking to shift their manufacturing facilities to other countries from China Managing Director of Kotak Mahindra Bank Uday Kotak on Sunday stressed on the cost-competitiveness of India's professionals across sectors and said that the country has potential to become the world's office. "China is the world's factory, India can be its office!" Kotak tweete…


ITC Ltd on Sunday said it is set to acquire Kolkata-based spice maker Sunrise Foods Pvt. Ltd (SFPL), in a move that will help the company cement its position in the country’s fast-moving consumer goods (FMCG) market. ITC entered into a share purchase agreement on 23 May 2020 to acquire 100% of the equity share capital of SFPL, a company primarily engaged in the business of spices under the trademark ‘Sunrise’, ITC said in a pr…


TCS, the group’s most profitable company, was first to announce a cut for CEO Rajesh Gopinathan For the first time in the Tata Group’s history, the chairman of Tata Sons and CEOs of all operating companies will take an estimated 20% cut in compensation as the conglomerate initiates cost-cutting measures. The move is aimed at leading by example, motivating employees and organisations and ensuring business viability, insiders said. Read…


A limited number of flights, about 25, will be allowed to land and take off from Mumbai on Monday when flying resumes after two months. This follows hectic talks among various stakeholders after Uddhav Thackeray, Chief Minister, Maharashtra, took to Twitter on Sunday afternoon to announce that he had spoken to Hardeep Puri, Minister of State for Civil Aviation, regarding the schedule of domestic flights in Maharashtra.....


The country’s largest airline IndiGo’s Bangalore-Delhi flight early on Monday will mark the resumption of air travel in India after a gap of two months, as per the final schedule drawn up by the civil aviation authorities. Over a thousand flights will take off on Monday as airlines get back to business with one third the capacity prescribed under the summer schedule. Indigo flight 6E2625 from Bangalore to Delhi at 40 minutes past mi…


India recently made a crucial change to its Foreign Direct Investment (FDI) policy. Effectively, Chinese FDI will now be subject to screening by Indian government under the exchange control law - the Foreign Exchange Management Act, 1999 (FEMA). This is intended to curb opportunistic takeovers of Indian companies by Chinese investors in the wake of Covid-19 crisis. Read more at:https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/to-r…


The global pandemic has massively hit the Indian economy. More than two-thirds of startups in India need to secure additional capital in the coming weeks to row through the coronavirus pandemic, according to an industry report....


JioMart, an e-commerce venture of Reliance Industries Ltd (RIL) subsidiary Reliance Retail, has rolled out services across major cities in the country, with orders now being excepted through an online portal and an app. The services are available across Mumbai, Chennai, Kolkata, Hyderabad, Delhi, Bengaluru, various places in Kerala, Punjab and Rajasthan among others.....


Plea says the app made users ‘vulnerable and prone to cyber threats’. The Supreme Court on Friday asked the government to respond to a petition seeking a ban on the use of video communications app ‘Zoom’ for official and personal purposes. A Bench led by Chief Justice of India S.A. Bobde issued notice to the Centre on the plea raising privacy concerns. The court said the government should file a reply in four weeks.....


A record number of flight tickets were sold in a matter of hours after the government announced resumption of domestic flights from Monday, three travel agents said on Friday. Online travel firm EaseMyTrip sold air tickets worth more than ₹10 crore since Thursday after the government announcement, co-founder and chief executive Nishant Pitti said.....


Amid the COVID-19 lockdown, the Karnataka government on Friday issued a notification allowing factories to extend working hours up to 10 hours a day and 60 hours a week till August 21.The extension of work hours is from the current eight hours a day and 48 hours a week."In exercise of powers conferred under Section 5 of Factories Act, 1948 (Act No.63 of 1948), the Government of Karnataka is pleased to order that all the factories registered under…


The Reserve Bank of India (RBI), which had earlier shifted a few officers to an undisclosed location as part of its business contingency plan (BCP), has now increased the deployed manpower to 150, so that the central bank’s key functions remain unaffected by the coronavirus (Covid-19) crisis.....


Folders in the name of some of the leading job websites in India also appeared on the screenshot posted by online intelligence firm Cyble. Cyber criminals have posted personal data of 2.9 crore job-seeking Indians on dark web for free in one of the hacking forums, according to online intelligence firm Cyble. The company had recently revealed hacking of Facebook and Sequoia-funded Indian education technology firm Unacademy.


410 out of 1,300 non-service companies such as ITC, Maruti Suzuki, Hero have resumed operations. About a third of non-service, manufacturing companies listed on the NSE have resumed operations partially or fully since mid-April, but demand is weak and disruptions continue to plague operations. Read more at:https://economictimes.indiatimes.com/news/company/corporate-trends/a-third-of-nse-manufacturing-companies-back-at-work/articleshow/75908657.cm…


Three Chinese banks had filed a case to recover dues A UK court on Friday directed Reliance Group Chairman Anil Ambani to make an interim payment of $716.91 million within 21 days, while it vacated a pre-trial review and trial proceedings listed for 2021. The court also directed the embattled businessman to pay £750,000 as trial proceeding costs to three Chinese banks, who had filed the case to claim their dues.....


The whole world is fighting with COVID-19, a health crisis of unprecedented scale which has also turned into an economic crisis. As the way of living is changing for billions of people, life shall not be back to normal anytime soon. Experts believe there would be a 'new normal', a world which no one would have imagined a quarter ago. To enable the smooth functioning of human life in the 'new normal era', there are some technologies that woul…


India's online grocery market could top $3 billion in sales this year, a 76% increase over last year, as the spike in demand for home delivery of fresh produce and staples seen during the nationwide lockdown is expected to sustain through the rest of the year India's online grocery market could top $3 billion in sales this year, a 76% increase over last year, as the spike in demand for home delivery of fresh produce and staples seen during the na…


The industry, which has been lobbying for faster approvals for quite some time now, says the current pandemic should help expedite the reforms process The new drug approval process in India is expected to get simpler and faster, with the government initiating discussions on reforming the regulatory system. The Ministry of Health and Family Welfare has called a meeting of the committee constituted for this purpose on Friday, sources familiar with …


RBI Governor press conference: Shaktikanta Das' address to the media comes ahead of the monetary policy meet scheduled to take place between June 3-5 Reserve Bank of India Governor Shaktikanta Das will address the media at 10 am today. The address comes ahead of the RBI's monetary policy meet scheduled to take place between June 3-5. The apex bank said in a tweet, "Watch out for RBI Governor live address at 10:00 am today (May 22, 2020)…


Food delivery unicorns Swiggy and Zomato have started home delivery of alcohol in some non-metro cities, diversifying from their core business that has been severely hit by the covid-19 outbreak. However, extending the service to India’s top cities may take a while. Swiggy’s alcohol delivery service went live in Ranchi on Thursday after obtaining approvals from the Jharkhand government. People can access this under the ‘Wine S…


Private equity firm KKR is set to invest the money in Jio Platforms for a 2.32% stake Private equity firm KKR is set to invest Rs 11367 crore in Jio Platforms for a 2.32% stake. This will be the fifth investment in the Reliance IndustriesLtd (RIL) business in rapid succession, following those by social media major Facebook, private equity funds Silver Lake, Vista Equity Partners and General Atlantic. Analysts expect more …


HCL Tech to not cut salaries or jobs; honour existing offers HCL Tech said that it would honour the nearly 15,000 job offers already made to freshers HCL TechnologiesNSE 1.64 % will not cut salaries of its 150,000 employees and will also honour promised bonuses for the previous year, the country’s third largest software services firm said, even as it looks to deal with a slowdown in IT spends because of the debilitating impact of the Covid-…


Reliance Industries has been raking in large deals when corporations are struggling to survive - all with a bigger plan in mind, which can even propel Mukesh Ambani into the trillionaire club How do you kill two birds with one stone? Ask Mukesh Ambani, the Chairman and Managing Director of Reliance Industries (RIL). As global corporations are fighting a survival battle, Ambani has managed to pull off four large deals with Faceboo…


India’s decision to resume domestic flights from May 25 was a bolt out of the blue for most of the country’s aviation companies. Top executives at three Indian airlines said they learned about the move when the aviation minister tweeted it. The executives asked not to be identified citing rules on speaking to the media.Most airlines have suspended ticket sales at least until June 1 and were staring at a longer stint on the ground, unt…


Ambani wants to bring down Reliance’s holding in Jio to around 75-80% before its listing. KKR and Co is in active discussions to invest in Reliance Industries’ Jio Platforms, seeking to join peers and technology-focused investors like Silver Lake, Vista Partners and General Atlantic and back the telecom-technology-commerce triple play that Mukesh Ambani is aiming for, said people in the know. KKR has been carrying out diligence for a …


An extremely severe cyclone packing winds of up to 190 kmph roared into West Bengal Wednesday, dumping heavy rain and leaving a trail of destruction that left at least two people dead, officials said. After making landfall at 2.30 p.m. between Digha in West Bengal and and Hatiya island in Bangladesh, cyclone Amphan cut a swathe through the coastal areas, flattening fragile dwellings, uprooting trees and electric poles. At least 6.58 lakh people w…


Finance minister Nirmala Sitharaman on Wednesday said the Indian industry needs to reset its relations with employees by engaging with unskilled workers in a professional manner and skilling employees at all levels. “Mindsets in industry need to set examples in handling workers in a way that is acceptable to all," the minister told a closed-door interaction with members of the industry lobby Confederation of Indian Industry (CII), adding …


Việt Nam has a lot of potential to export goods to India, one of the most populous countries in the world with nearly 1.4 billion people. Lê Hoàng Tài, deputy director of the Ministry of Industry and Trade's Vietnam Trade Promotion Agency (Vietrade) made the statement at an online meeting on trade promotion through the Vietnamese community in India on Wednesday......


Casa Everz Gmbh, the owner of Germany-based healthy footwear brand Von Wellx, will be shifting its entire shoe production of over three million pairs annually in China to India with an initial investment of ₹110 crore, according to a top official of the company's licensee Iatric Industries Pvt Ltd. A new manufacturing unit will be set up with a production capacity of over three million pairs in Uttar Pradesh through a collaboration with …


The survival of coronavirus gradually decreases with time in a dead body, as per scientific literature till now, though there is no specific duration to declare a body as non-infective, the ICMR said on Tuesday. So, it is advisable to adopt the necessary precautions and non-invasive autopsy technique while handling the body, the apex health research body said in response to a question over how many days is the infectivity period of …


Costing ₹100-500, the masks are also sold in combo packs and come in a variety of prints and designs so customers can match them with their outfits Fashion brands including Allen Solly, Peter England, Zodiac and Fabindia have started creating designer masks to match shirts as covering one’s face becomes the new normal during the covid-19 pandemic.....  


Tata Consumer Products Limited (TCPL) on Monday said it will acquire PepsiCo’s stake in NourishCo Beverages Limited—a 50:50 joint venture between the two companies as it moves to build a strong play in the packaged beverages market. “This move is consistent with Tata Consumer’s focus on widening its portfolio in the food and beverages space," Tata Consumer Products Ltd said in a filing to the stock exchange on Monday....…


Vardhan would succeed Dr Hiroki Nakatani of Japan, currently the Chairman of the 34-member WHO Executive Board Union Health Minister Harsh Vardhan, who is at the forefront of India's battle against coronavirus (Covid-19), is set to take charge as the chairman of the WHO Executive Board on May 22, officials said on Tuesday. Vardhan would succeed Dr Hiroki Nakatani of Japan, currently the Chairman of the 34-member …


FM says she kept lessons of the 2008-13 period in mind when designing the Covid stimulus The government kept the lessons of the 2008-13 period in mind when designing its ₹ 20 lakh crore stimulus package, finance minister Nirmala Sitharaman told ET, explaining why it had avoided spending recklessly to revive the economy. She was referring to the programme implemented in the wake of the global finance crisis and its aftermath. Read more at:https:…


Govt can do a pilot before launching it State-wide The Telangana government’s call to farmers to grow cotton on 70 lakh acres as against the normal area of 40-45 lakh acres came in as a surprise to cotton industry watchers in the State.....


The pandemic has forced educational institutions to rethink processes with classroom teaching being suspended in many countries. In India, teachers are moving classrooms online, and students are adapting to learning on computers and smartphones. As part of Mint’s Pivot or Perish series, Byju Raveendran, founder and chief executive of online learning platform Byju’s, says how edtech platforms are waking up to a market that has acc…


80% of wholesale agriculture markets are fully functional now compared with 40% in lockdown Demand for tractors is rising as fertiliser sales and foodgrain production hit record highs, reservoirs hold more water than 10-year average and a normal monsoon is forecast.Demand for tractors has outstripped supply, as output has fallen with factories operating at a quarter of their capacity. Segment leader Mahindra & Mahindra has started planning fo…


All hospitalised patients with influenza-like symptoms must be tested: ICMR The number of Covid-19 cases recorded every 24 hours across India is rising by the day. On May 18, 96,169 cases were reported by the Ministry of Health and Family Welfare (MoHFW), an increase of 5,242 cases over the previous day. Deaths rose to 3,029, up by 157 over the last 24 hours. While earlier, new cases were increasing by 1,000, 2,000, 3,000 or 4,000 per day, this …


Singtel on Tuesday (May 19) said it will recognise its share of Bharti Airtel's provision for a one-time spectrum charge at S$357 million, or $232 million on a post-tax basis. This comes as its Indian associate has recognised 56.4 billion rupees (S$1.1 billion) as an exceptional charge based on a reassessment of the regulatory cost from a recent judgement, the mainboard-listed telco said in a bourse filing. Singtel's share of the provision will b…


Virgin Australia Holdings Ltd's administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said InterGlobe Enterprises, led by Rahul Bhatia hasn't made the list of suitors selected by Virgin Australia Holdings Ltd's administrators.Virgin Australia Holdings Ltd's administrators have short-listed potential buyers BGH Capital, Bain Capi…


The Reserve Bank of India has directed HDFC Limited to bring down its stake in its subsidiaries HDFC Ergo and HDFC Life Insurance to 50 per cent or below. The RBI has directed that post merger of HDFC Ergo Health Insurance Company Limited (formerly Apollo Munich Health Insurance Company) with HDFC Ergo General Insurance Company, subsidiaries of the corporation, the stake of the corporation in the merged entity should be brought down to 50 per c…


If Mallya’s asylum application is ongoing or has been granted, he will not be extradited. Fugitive liquor baron Vijay Mallya could still get out of his extradition, notwithstanding the UK courts rejecting his appeals against sending him to India to face money laundering and fraud charges, by applying for asylum in Britain.Karishma Vora, a London barrister who specialises in representing Indian parties in English law disputes, told TOI: &ldq…


Shock varies across communities By raising sales tax on liquor up to 35 per cent, Kerala may just have plotted a reprisal of the arrack ban in the State in 1996, that had forced poor and marginalised consumers to go instead for costlier India-made foreign liquor (IMFL). The latest hike may raise an additional ₹2,000 crore in revenue for the resource-strapped State government, but at the cost of family budgets of the vulnerable.....


The new guidelines are based on inputs from states that PM Modi had received during his discussion with CMs The centre Sunday extended the ongoing nationwide lockdown till May 31. The fourth phase of the lockdown will commence from today. The government has allowed considerable relaxations in this round of lockdown- Inter-state movement of vehicles, buses have been allowed with states and Union Territories being given the final power to delineate…


Finance Minister Nirmala Sitharaman on Saturday announced major reforms in the mining of minerals through a seamless composite exploration-cum-production regime. She said 500 blocks of minerals will be auctioned in a composite exploration-cum-mining-cum-production regime. Also, a joint auction of bauxite and coal blocks would be done to enhance the aluminium industry’s competitiveness......


The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459 Reliance Industries (RIL) on Saturday said its 442.6-million share rights offer would remain open for subscription between May 20 and June 3. India’s most valuable firm is looking to raise Rs 53,125 crore in fresh capital through the rights issue. RIL will initially issue partly paid-up shares to rai…