India’s foreign exchange reserves down $1.8 bn

Mumbai, Jan 22 (IANS) India’s foreign exchange reserves declined by $1.839 billion during the week ended January 15. According to the Reserve Bank of India’s weekly statistical supplement, the reserves decreased to $584.242 billion from $586.082 billion reported for the week ended January 8. India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, […]

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UP fifth largest exporter during pandemic

Lucknow, Jan 19 (IANS) The Yogi Adityanath-led government in Uttar Pradesh has emerged as the fifth largest exporter of goods during the Covid-19 pandemic. Goods like rice, medicines, carpets, silk, fertilisers, sugar, toys and fish from the state have been exported abroad. The state government made efforts under its ‘ease of doing business’ policy to […]

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Haryana CM launches air taxi service

Chandigarh, Jan 14 (IANS) Haryana Chief Minister Manohar Lal Khattar on Thursday launched an air taxi service between Chandigarh and Hisar from the Chandigarh International Airport under UDAN scheme of the central government. On this occasion, Khattar handed over a boarding pass to the first passenger. He also visited the airstrip where he was apprised […]

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Airtel, NSIC partner for digital transformation of Indian MSMEs

New Delhi, Jan 11 (IANS) Telecom major Bharti Airtel on Monday announced its partnership with National Small Industries Corporation (NSIC) to accelerate the digital transformation of Micro, Small and Medium Enterprises (MSMEs) in India. NSIC is a Government of India Enterprise having its mission “to promote and support MSME sector by providing integrated support services […]

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Reliance Capital Limited debenture holders pave way for asset monetisation

New Delhi, Jan 11 (IANS) Reliance Capital (RCAP) debenture holders at their meeting held on January 5, passed the resolution with overwhelming majority for monetisation of its assets. This comes on the back of shareholders having already approved RCAP monetisation. Reliance Capital had commenced its asset monetisation process – to unlock value of its underlying […]

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Govt proposes pre-packaged insolvency resolution framework under IBC

New Delhi, Jan 10 (IANS) The Ministry of Corporate Affairs has proposed a pre-packaged insolvency resolution framework under the Insolvency and Bankruptcy Code (IBC). The ministry has sought comments on the recommendations of sub-committee of the Insolvency Law Committee by January 22. Government constituted the sub-committee in June last year to prepare a detailed scheme […]

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Pandemic Relief: Covid-19 treatment may qualify for tax deduction benefits

New Delhi, Jan 8 (IANS) Continuing with its pandemic relief initiatives, the government may extend income tax deduction benefits for Covid-19 treatment to individuals not covered under any health insurance. Sources said that several pre-budget proposals for providing tax relief for Covid-19 treatment have come to the Revenue Department and these are being actively examined. […]

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Dell launches new PCs, monitors

Bengaluru, Jan 6 (IANS) Dell Technologies on Wednesday expanded its product line with the launch of new PCs, monitors along with Dell Optimizer software. The company has unveiled Latitude 9420, Latitude 7520, Latitude 5420 at $1,949, $1,649, $1,049 respectively. “Our new intelligent PCs make it possible for us to work smarter and collaborate easier, so […]

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Nithia Capital and CarVal Investors complete acquisition of Uttam Galva and Uttam Value Steel

New Delhi, Jan 5 (IANS) Nithia Capital, a global distressed alternative asset manager and CarVal Investors, a global alternative investment manager focused on distressed and credit-intensive assets, announced that they have completed the acquisition of Uttam Galva Metallics Limited (UGML) and Uttam Value Steel Limited (UVSL) (together Uttam) through their Singapore-based Joint Venture Holding Company, […]

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Hopes revive of air connectivity from Agra

Agra, Jan 5 (IANS) The Taj city with three world heritage monuments, could soon be air connected with major Indian cities. The Kheria airport officials confirmed some airlines had sought permission to begin flights. Tourism circles in the Taj city welcomed fresh initiatives to air connect Agra with Goa, Mumbai, Lucknow, Bhopal. Air India is […]

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‘Atmanirbhar’ Push: Hyundai commences ‘all-new i20’ exports

New Delhi, Jan 4 (IANS) Automobile manufacturer Hyundai Motor India has commenced exports of its recently launched premium hatchback, the ‘all-new i20’. According to the company, the milestone marks the beginning of the “next decade and HMIL’s resilient commitment to ‘Atmanirbhar Bharat’”. Presently, HMIL is India’s largest exporter of automobiles. It has surpassed the three […]

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Dec manufacturing growth inches up: PMI

New Delhi, Jan 4 (IANS) India’s manufacturing sector growth inched up in December, as improving business environment pushed order flow. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) inched up to 56.4 (index reading) in December up from 56.3 in November. The PMI varied between 0 and 100, with a reading […]

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Airtels says Jio’s allegations ‘baseless’, condemns tower damage

New Delhi, Jan 2 (IANS) Telecom major Bharti Airtel has said that Reliance Jio’s allegations claiming sabotage of the latter’s tower infrastructure by its rivals are baseless and outrageous. In a letter to the Anshu Prakash, Secretary of Department of Telecommunications, Airtel also condemned the disruption of telecom networks and the instances of vandalism. “We […]

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Year-end discounts, pent up demand accelerate December’s auto sales (Roundup)

New Delhi, Jan 1 (IANS) Pent-up demand, along with attractive year-end discounts accelerated the year-on-year sales of major automobile players’ during December. Besides, analysts cited factors such as low interest rates, preference for personal mobility over public transport due to the pandemic as other key reasons for the upswing. Amongst the major players, Maruti Suzuki […]

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M&M’s December auto sales down 10%

New Delhi, Jan 1 (IANS) Mahindra & Mahindra (M&M) on Friday reported 10 per cent fall in its overall auto sales in December 2020 at 35,187 units. During the same period of 2019, the company had sold 39,230 units. However, in the utility vehicles segment, Mahindra sold 16,050 vehicles in December 2020, compared to 15,225 […]

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India’s foreign exchange reserves slip by $290 mn

Mumbai, Jan 1 (IANS) India’s foreign exchange reserves slipped by $290 million during the week ended December 25. According to the Reserve Bank of India’s weekly statistical supplement, the reserves declined to $580.841 billion from $581.131 billion reported for the week ended December 18. India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, […]

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IFSCA joins Int’l Org of Securities Commissions

New Delhi, Jan 1 (IANS) The International Financial Services Centres Authority (IFSCA) has become an associate member of the International Organization of Securities Commissions (IOSCO). IOSCO is the international organisation that brings together the world’s securities regulators, covering more than 95 per cent of the world’s securities markets, and it also sets the global standard […]

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Maruti Suzuki’s Dec 2020 sales up 20%

New Delhi, Jan 1 (IANS) Automobile major Maruti Suzuki on Friday reported a growth of 20.2 per cent in its overall sales during December 2020 on a year-on-year basis. The company sold 1,60,226 units of vehicles last month, against 1,33,296 units sold in December 2019. On a sequential basis, the company sold 1,53,223 units of […]

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China denies seeking guarantees from Pakistan

By Hamza AmeerIslamabad, Dec 30 (IANS) After reports emerged about Pakistans ally and all-weather friend China, asking Islamabad to provide guarantees if it intends to avail the $6 billion package; Beijing has rejected “what it called rumors” of gradually ending financial support to Pakistan, pledged under the China Pakistan Economic Corridor (CPEC). Chinese Foreign Miniter’s […]

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Modi launches 351km-long eastern dedicated freight corridor

New Delhi, Dec 29 (IANS) Prime Minister Narendra Modi on Tuesday inaugurated the 351 km long ‘New Bhaupur-New Khurja section’ of the Eastern Dedicated Freight Corridor (EDFC) and Operation Control Centre (OCC) at Prayagraj. Speaking on the occasion, Modi said, “After Independence we are witnessing the inauguration of the most advanced rail section in the […]

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SLN Coffee launches flavoured coffee

Chennai, Dec 28 (IANS) Instant coffee company SLN Coffee on Monday launched four variants of flavoured coffee-Vanilla, Caramel, Hazelnut and Choco-Orange targeting the Gen-Z and the Millennials. The company also launched another variant of instant coffee with mix of 70 per cent coffee and 30 per cent chicory called ‘Levista Supreme’. The flavoured coffee would […]

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IGI Airport installs new passenger tracking system at T3

New Delhi, Dec 28 (IANS) National capital’s Indira Gandhi International (IGI) Airport on Monday introduced a new passenger tracking system intended to reduce waiting time, enhance operational efficiency and manage passenger flow to ensure social distancing at Terminal-3. According to Delhi International Airport Limited (DIAL), to repose faith in flying among passengers, it has introduced […]

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AIRIA seeks tax reforms for rubber industry

New Delhi, Dec 27 (IANS) The All India Rubber Industries Association (AIRIA) has called for rationalisation of tax structure and said that the inverted duty structure impacts the local industry. It also said that the government should consider providing adequate support and handholding to the producers and should device ‘Phased Manufacturing Programme’ for enhancing the […]

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Infogain acquires AI firm Absolutdata

New Delhi, Dec 24 (IANS) Infogain, a Silicon Valley-based digital platform and software engineering company, has acquired Absolutdata, a San Francisco Bay Area based AI and Advanced Analytics company. Absolutdata’s award-winning ‘NAVIK AI’ platform and 300 data scientists will significantly enhance Infogain’s ability to engineer superior business outcomes for its clients through the use of […]

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China begins anti-trust probe into e-commerce giant Alibaba

Beijing, Dec 24 (IANS) In a significant development, China’s top market watchdog on Thursday started investigation into alleged anti-competition practices by ecommerce giant Alibaba, as Beijing tightened control of an expanding Internet. In a brief note, the State Administration for Market Regulation said that it is investigating Alibaba over its “choosing one from two” policy. […]

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Make railways parcel services more customer-friendly: Goyal

New Delhi, Dec 22 (IANS) Railways Minister Piyush Goyal on Tuesday emphasised making parcel services more customer-friendly as he directed officials to increase the production of LHB parcel vans, and to introduce e-Payment and digital payment facilities. In a review meeting with Railway Board officials, Goyal appreciated the efforts done by the national transporter, especially […]

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E-commerce props up paper-packaging fortunes

New Delhi, Dec 22 (IANS) A revival in demand, led by increased offtake from e-commerce channels, will support a rebound for paper-packaging entities this fiscal, offsetting the impact of pandemic-induced disruptions in the first quarter, Crisil said on Tuesday. According to the rating agency, despite a 200 basis points (ps) blow to operating margin, credit […]

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Mahindra’s SsangYong files for bankruptcy

New Delhi, Dec 21 (IANS) Mahindra & Mahindra’s South Korean subsidiary SsangYong Motor Company (SYMC) has filed for rehabilitation procedure with the Seoul Bankruptcy Court. In a regulatory filing, Mahindra said that SYMC has also applied for an Autonomous Restructuring Support (ARS) programme which is a court-designed process. “SYMC has today intimated to the Korean […]

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Tremendous scope for Australian investment into India: Minister

New Delhi, Dec 18 (IANS) Union Minister Piyush Goyal on Friday said that there is tremendous scope for Australian investment into India as the country eases FDI norms and opens up different sectors. Addressing the CII’s session on ‘Enhancing India Australia Bilateral Economic and Trade Relationship’, the Minister for Railways, Commerce and industry, Consumer Affairs, […]

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Gold, silver prices fall on profit booking

Mumbai, Dec 18 (IANS) Gold and silver prices declined on Friday as traders booked profits after the recent surge in prices. Further, increasing hopes of an economic stimulus from the US government also weighed on the price of gold internationally, which reflected in the domestic market. As the US Congressional Republicans and Democrats try to […]

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Now Meghalaya’s Lakadong turmeric reaches US

New Delhi, Dec 17 (IANS) A United States firm has collaborated with Farmer Producer Organisations (FPOs) to manufacture nutraceuticals from turmeric ‘Lakadong’, a special turmeric variety that grows in India’s Meghalaya. In this regard, Union Agriculture Minister Narendra Singh Tomar and Meghalaya Chief Minister Conrad K. Sangma on Thursday launched the famous ‘Lakadong’ turmeric in […]

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High on Snacking: Cadbury maker foresees positive demand sentiment ahead (IANS Special)

By Rohit VaidNew Delhi, Dec 17 (IANS) After a healthy festive season led demand push, snacking major Mondelez India foresees continuance of positive off-take sentiment. Accordingly, Mondelez India, which was formerly, known as Cadbury India has cited that pandemic has actually accelerated the growth of snacking in India. Besides, the company has expanded its e-com […]

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Sensex, Nifty inch up to touch fresh highs

Mumbai, Dec 17 (IANS) The key Indian equity indices opened on a positive note on Thursday with the BSE Sensex crossing the 46,800 mark. Both the Sensex and Nifty50 touched new record highs of 46,812.37 points and 13,724.70 points respectively. Healthy buying was witnessed in consumer durables and healthcare stocks, while decline in metal, telecom […]

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