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Manish Malhotra luxury retail footprint that extends stores across Mumbai, Hyderabad and New Delhi, gets its first external investor – Reliance Brands Limited (RBL) for a 40 percent stake. Reliance was also in talks to acquire Ritu Kumar’s brand but has now signed a definitive agreement to invest in the brand that had been so […]
With an increase in the inflow and availability of tea from Nepal, the prices of Darjeeling tea have fallen by 20-25 percent within a span of one year. Tea plantations in Darjeeling might have to be shut down as ‘substandard’ tea from Nepal continues to flood Indian markets which will likely affect thousands of people […]
Despite not so cordial relations between two Asian giants due to military standoff in eastern Ladakh, bilateral trade volumes between India and China continues to scale new height. After already having touched USD 90 billion in the first nine months, it is set to cross the record figure of USD 100 billion this year. While […]
Reliance New Energy Solar Ltd. (RNESL) – a wholly-owned subsidiary of Reliance Industries Ltd. (RIL) has signed an agreement with Denmark-based Stiesdal (Stiesdal) to manufacture hydrogen electrolyzers. Stiesdal is a Danish company that is engaged in developing and commercialising technologies on climate change mitigation. RNESL has been awarded the license for this through a “cooperation agreement”, […]
IMF World Economic Outlook report for the quarter ending September 2021 has estimated the Indian economy to grow at 8.5 percent next financial year 2021-22. This bolsters the general opinion about robustness of the economy, which is coming out of the recession created by the Covid-19 epidemic. IMF has suggested no change in the estimated […]
Cryptocurrency’s regulatory status might be unclear in India, but it does not deter Indians from investing in crypto assets. India ranks 5th among the countries with the highest rate of crypto owners. Over 7.3% of Indians hold cryptocurrency as per the estimates. It is over 10 crores, which is the highest in the world in […]
More than 100 female beauticians from Urban Company hit the street protesting against the pay scale, working conditions, and absence of insurance. This incident has come to a blow in the face of Urban Company, Which has been riding on an ego trip dependent on these elements for some time now.Urban Company was among the […]
In an incredibly significant development, that would cast its shadow on financial circles across India – RBI has banned M/s Haribhakti & Co, LLP auditors from auditing regulated companies for a period of two years with effect from April 1, 2022. In what could be termed as the ultimate slur for a company of the […]
Ministry of Power has noticed some states failing to supply power to their consumers and imposing load shedding. Moreover, they are selling power in the power exchange at a high price. According to the guidelines for allocation of power, 15% of power from the Central Generating Stations (CGS) are kept under “unallocated power” which is […]
The authorities have given a go forward to billionaire investor Rakesh Jhunjhunwala backed startup airline Akasa. The aviation ministry has issued the no-objection certificates (NOC) and now it might want to apply for air operator allow (AOP or licence) from the Directorate General of Civil Aviation (DGCA). The proposed extremely low-value service (LCC) is being […]
The Central government has put quantitative restrictions on the export of 0.5 ml/1ml AD (auto-disable) syringes, 0.5/1/2/3 ml disposable syringes and 1/2/3 ml RUP (re-use prevention) syringes. The idea is to boost its domestic availability and uptake. The restrictions will be applied to just three categories of syringes for three months. The Union Health Ministry […]
After 25 year efforts in vain to get significant foothold in car market the country, Ford called it quits from all manufacturing activities in India, last month. Though, one of the first foreign car manufacturer to arrive in India, Ford Motor Co, manufactured 5 models, EcoSport, Figo, Freestyle, Endeavour and Aspire, locally. It however could […]
Walter Vieira All is well that ends well. It has been a trauma for many, many years to see one of the worlds best airlines, which was,’ iconic,’ and recognised globally as the ‘ maharaja airline ‘- slowly go down the ‘ brand slide ‘ to a stage where it was the ‘ last resort […]
More than half a century after India’s biggest conglomerate surrendered control to the state, ending the government’s hold over an airline – Tata Sons Pvt Ltd is all set to take over Air India Ltd, again. The central government has officially announced that Tata sons acquires 100 percent shareholding of Air India. This comes a […]
While the investigation agencies were busy probing criminal cases against Sterling Biotech Director Nitin Sandesara and his group in 2017, Sandesara was busy collecting character certificates from Nigerian banks so to expand his oil business in the British Virgin Island. In a reference letter to Fidelity Corporate Service Ltd, the Union Bank of Nigeria Plc […]
The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 82,229 crores to more than 53.54 lakh taxpayers from April 1, 2021, to October 4, 2021. Income tax refunds of Rs 20,510 crores have been issued in 51,88,762 cases Corporate tax refunds of Rs 61,719 crore have been issued in 1,65,397 cases […]
Marking the celebrations for the auspicious festival of Navratri, 7 UP – the refreshing clear drink launched its all-new limited edition festive packs in Gujarat, featuring the quirky, curly-haired brand mascot Fido Dido. Over the years, the autumn festival of Navratri has metamorphosized into an event of stupendous scale with thousands of people coming together to […]
In awarding model Aashna Roy damages of Rs 2 crore for a botched hair cut at the ITC Maurya hotel in Delhi, the National Consumer Disputes Redressal Commission (NCDRC) has created a history of sorts. Foreign networks have picked up on the news, with headlines like “Indian salon must pay more than 230,000 euros for […]
Gift City, Gandhinagar has decided to market itself internationally, inching towards its stated raison d’etre. Deciding to participate with vigour at EXPO 2020 in Dubai, it has planned two dedicated panel discussions on investment opportunities. The Gift City MD Tapan Ray will deliver a keynote address. Global investors from Southeast Asia, Middle East, Europe, and […]
It is a telling scenario where 150103 loan applications sanctioned by the banks in first quarter in FY 2020-21, only 84087 opted for disbursement while in 2021-22 during the corresponding quarter the figures read as 327368 disbursements out of sanctioned loans of 360108. It means that while in 2020-21 the percentage of disbursement to sanction […]
