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The union cabinet has approved a financial aid package of Rs1.64 lakh crore for state-run telecom provider Bharat Sanchar Nigam Limited (BSNL). This package is expected to help revive the company, which is currently struggling to stay relevant. The cabinet, chaired by Prime Minister Narendra Modi, said that its measures to help the company on […]
Tim Cook, the CEO of Apple, reportedly wakes up at 3:45 am and uses the early hours, when his energy levels are highest, for uninterrupted work. After 75 minutes, at 5:00 am, he heads off to the gym. By the time the rest of the world is up, Cook has finished nearly half the day’s […]
Riding on the back of increased prices, brand Amul is likely to cross the Rs 50,000 crore turnover mark in the current year. Gujarat Cooperative Milk Marketing Federation, owner of the Amul brand, has already hiked the price of its range of liquid milk products twice this year. Liquid milk constitutes the major portion of GCMM’s […]
Savitri Jindal has seen her fortune rise by $12 billion in the last two years. Jindal is the richest woman, with a net worth of $18 billion, and the only woman in the top ten of Forbes’ list of the richest Indians in 2021. She inherited her husband’s steel and power conglomerate after his untimely […]
Torrential rains have lashed Gujarat since the beginning of this month. districts have suffered serious damage as rivers have overflowed, dams have leaked and the problem of waterlogging has persisted. Many places have also suffered flood-loke situations. So far, the state has already received over 50% of the average seasonal rainfall of 850 mm. Unfortunately, […]
On Monday, Union Finance Minister Nirmala Sitharaman told the Lok Sabha that the Reserve Bank of India supports the prohibition of cryptocurrencies. She was responding to an unstarred question from VCK MP Thol Thirumaavalavan, who wanted to know if the RBI had expressed concern about the negative impact of cryptocurrency on the Indian economy. He […]
The Central Board of Indirect Taxes and Customs (CBIC) has published a standard operating procedure (SOP) for e-commerce exports of jewellery via courier, according to a Thursday release from the Ministry of Finance. On June 30, the CBIC published a streamlined regulatory framework for the export of jewellery via e-commerce. According to the announcement, the […]
Pune based fintech startup OneCard became 104th unicorn of India following a new round of funding. Temasek, one of the world’s largest investors, led the Pune-based startup’s Series D round of over $100 million. The new round values OneCard at more than $1.4 billion (post-money), up from approximately $750 million in January of this year. OneCard […]
The Central Bureau of Investigation (CBI) has filed another FIR against Anil Ltd. in Mumbai, for an alleged fraud of Rs710 crores. The CBI this morning has carried out raids in seven places related to the company and its management team. These include locations in Ahmedabad and Pune. It is believed that the fraud is […]
Adani Group yesterday announced that it is participating in 5G spectrum auction, which will commence on July 26. However, the company refuted media reports and said that it was not interested to foray into telecom services. The company said that it had taken the decision to be a player in the 5G space in order […]
Torrent Pharmaceuticals has declared a 1:1 bonus issue, with Monday, 11 July fixed as the record date. Those holding 100 shares of the company on 8 July will own 200 shares as of 11 July. With the number of Torrent Pharma shares in the market doubling, the price of the shares dropped by close to […]
The Income Tax (IT) Department has said that Huawei Telecommunications India had resorted to unlawful means in order to evade paying taxes in India. The unit of Chinese technology company Huawei had allegedly sent back huge sums of money in the last two financial years, even when its income had slowed. According to sources, the […]
The Chinese smartphone manufacturer Vivo’s Indian subsidiary remitted 62,476 crore, or about 50% of its revenue, to China primarily to avoid paying taxes, the nation’s financial crime combating agency reported on Thursday. The Enforcement Directorate (ED) stated in a statement that “These remittances were made to disclose significant losses in Indian incorporated companies to avoid […]
Reliance Retail announced a long-term partnership with Gap Inc. on Wednesday to bring the iconic American fashion brand Gap to India. With this agreement, Reliance Industries’ retail arm has become the official retailer for Gap in India across all channels. Reliance Retail will introduce Gap’s latest fashion offerings to Indian consumers through a mix of […]
Prime Minister Narendra Modi is expected to formally launch the operations of JPMorgan Chase, Deutsche Bank, and Japan’s MUFG Bank at the International Financial Services Centre (IFSC) on July 15, giving Gujarat the biggest push in becoming the Indian hub for global finance. Finance Minister Nirmala Sitharaman is expected to attend the event. These organisations […]
The Directorate General of Civil Aviation (DGCA), on July 3 took a strong stand and demanded an explanation from IndiGo for massive flight delays throughout the country. The latest statistics show that the departure of the company’s 900 flights was delayed on Saturday. According to sources, this delay was caused because of not having enough […]
The Indian Finance Ministry announced a hike in the basic import duty of gold from 7.5 percent to 12.5 percent. According to some analysts, the decision was announced keeping in mind the tumbling Rupee and the country’s growing trade deficit as it widened to a record high last month. In a year, India’s trade imbalance […]
The Hurun Research Institute on Tuesday identified 122 future Unicorns in India from 25 cities as a part of the ASK Private Wealth Harun India Future Unicorn Index 2022. According to the list, Bengaluru is still the unicorn capital of India, with 46 unicorns, followed by Delhi NCR and Mumbai, which have 25 and 16 […]
The rupee fell to a new low against the US dollar on Wednesday, as domestic stock markets fell and foreign investors continued to sell Indian equities. The Rupee depreciated 18 paise to close at a record low of 79.03 against the US dollar, at 79.03/$1 on Wednesday. During the Session, the rupee touched an all-time […]
The Maharashtra government’s Energy Department signed an MOU with Adani Green Energy Group Ltd (AGEL) to generate 11000 MW of green power over the next five years. According to a government statement, it would require an investment of Rs 60,000 crore and would employ 30,000 people. According to the agreement, AGEL will establish Pumped Storage […]
