Friday, October 30, 2020

Business

Seagate delivers high-performance storage solutions for Indian gamers

NEW DELHI: Gamers in India, amateur and professional, have always coveted agile and portable gaming solutions that can enhance their experience.
The gaming market in India has also been on an upswing with the country's online gaming industry likely to add 190 million gamers and become a $1 billion market by 2021.

HSIL announces Rs 320 crore investment in Telangana

HYDERABAD: HSIL, India's second-largest glass packaging producer, announced an investment of Rs 220 crore in AGI Glaspac to set up a new facility manufacture specialty glass.

Pidilite acquires consumer & bazaar business of Araldite for Rs 2,100 Cr

NEW DELHI: Pidilite Industries is acquiring complete interest in US-based Huntsman Group's Indian subsidiary Huntsman Advanced Materials Solutions Private Limited (HAMSPL) for a consideration of about Rs 2,100 crore to consolidate its leadership position in the domestic adhesive market.

Air India Express's FY20 net profit climbs to Rs 412.77 cr

NEW DELHI: Air India's low-cost international subsidiary Air India Express on Wednesday reported its highest-ever net profit, at Rs 412.77 crore for the financial year 2019-20.
The airline had reported a net profit of Rs 169 crore in 2018-19.

International flights to remain suspended till Nov 30

NEW DELHI: The Centre on Wednesday extended the suspension of scheduled commercial international flight operations to and from India till November 30.
This restriction shall not apply to international all-cargo operations and flights specifically approved by the Directorate General of Civil Aviation," an official statement said on Wednesday.

Financial conditions on the mend, new Crisil index shows

NEW DELHI:Financial conditions in India have staged a full-throttle recovery from the harrowing abyss they had been sent flailing into by the Covid-19 pandemic in April, Crisil's new Financial Conditions Index (FCI) showed on Wednesday.

Gold loan NBFCs to shimmer with 15-18% growth in fiscal 2021

NEW DELHI:With the pandemic-driven lockdowns being lifted slowly and economic activity clawing back, demand for gold loans would rise, especially from individuals meeting urgent personal requirements and from micro enterprises for working capital to restart businesses, Crisil said on Wednesday.

Markets open on positive note

MUMBAI:The 30-scrip Sensitive Index (Sensex) on Wednesday opened on a positive note.

Hyderabad Airport rolls out e-boarding for international passengers

HYDERABADA:GMR-led Hyderabad International Airport on Tuesday announced launch of end-to-end paperless e-boarding for international flights, thus becoming the first airport in India to do so.

PM Modi to review state of the economy with FM on Tuesday evening

NEW DELHI ;Prime Minister Narendra Modi will review the state of the economy with finance minister Nirmala Sitharaman on Tuesday to identify possible policy action including need for another stimulus to push up economic activity in the country.

Consumers may get relief on petrol, diesel prices ahead of Diwali

NEW DELHI:Consumers can cheer as oil marketing companies (OMC) may actually bring down the retail prices of petrol and diesel in the coming week ahead of Diwali.

Equity indices in green; banking, FMCG stocks surge

MUMBAI:The Indian stock market recovered from the initial decline on Tuesday morning to trade in the green with the BSE Sensex trading over 150 points higher.

Samsung Display wins US nod for panel shipment to Huawei: Report

SEOUL:Samsung Display, a major display panel maker in South Korea, has received approval from the US government to supply certain display products to Huawei Technologies, sources here said on Tuesday, amid Washington's sanctions against the Chinese tech giant.

In Bezos vs Ambani battle, focus on disclosures by Amazon

NEW DELHI:In the Jeff Bezos vs Mukesh Ambani battle royale for the Indian retail market, which is now also evolving into a 'videshi vs swadeshi' battle, questions are being raised by corporate watchers.

Gadkari to lay foundation of 9 NH projects in Tripura on Tuesday

NEW DELHI: Union Minister for Road Transport and Highways Nitin Gadkari will lay the foundation stones of nine National Highway projects with a length of nearly 262 kms worth over Rs 2,752 crore in Tripura on Tuesday.

Gadkari to lay foundation of 9 NH projects in Tripura on Tuesday

NEW DELHI:Union Minister for Road Transport and Highways Nitin Gadkari will lay the foundation stones of nine National Highway projects with a length of nearly 262 kms worth over Rs 2,752 crore in Tripura on Tuesday.

Airtel enters $1bn cloud communications market in India

NEW DELHI: Telecom major Bharti Airtel on Monday launched a new platform called Airtel IQ, marking the company's entry into an estimated $1 billion Indian cloud communications market.

Muthoot Finance to raise Rs 2K cr through public issue of secured NCDs

NEW DELHI: Muthoot Finance Ltd. on Monday announced its 23rd series of Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs 1,000 each.

Global trade making water, energy insecurity worse: Study

LONDON: International trade in a highly interconnected world is putting more pressure on water, energy and land resources than domestic productions, says a new study.

No change in Petrol, diesel prices

NEW DELHI: Oil marketing companies continued to hold the pause button on retail fuel prices on Monday due to subdued global crude prices.

Taxes on petrol, diesel may go up further to mobilise additional revenue for Covid relief

NEW DELHI: The economic crisis triggered by the Covid-19 pandemic and subsequent pressure on revenues may again push the Centre to raise excise duty on petrol and diesel.

Delhi Metro-SBI Card' a credit-cum-smart card launched

NEW DELHI:The Delhi Metro Rail Corporation (DMRC) in association with the SBI Card, on Friday launched the 'Delhi Metro-SBI Card', a multipurpose credit card for the benefit of the Delhi Metro commuters.

Aditya Birla Fashion shares up 14% after Flipkart stake announcement

MUMBAI:Shares of Aditya Birla Fashion and Retail surged over 14 per cent on Friday afternoon after the company announced that Flipkart Investments Pvt Ltd will invest Rs 1,500 crore to pick up a stake of 7.8 per cent in the former.

No change in petrol and diesel prices

NEW DELHI:Retail prices of petrol and diesel remained unchanged on Friday as softer global crude and product prices prevented Indian oil marketing companies from carrying out any revision in prices.

FII holdings in RIL hit new highs

NEW DELHI:The ownership of foreign institutional investors (FII) in Reliance Industries Limited (RIL) has hit new highs and stood at 27.2 per cent, up 60 basis points quarter on quarter as per the September quarter shareholdings.

Fuel prices stay static, petrol ends month without revision

NEW DELHI:Petrol completed a month without revision in its retail prices as oil marketing companies (OMC) decided against changing its pump price on Thursday as international product market remained subdued while crude prices remained static.

SC: Can't suppress material facts while availing life insurance

NEW DELHI:The Supreme Court has said that a contract of insurance is of utmost good faith and a proposer who is keen to obtain a policy of life insurance is duty-bound to disclose all material facts.

Swiggy onboards 7K new restaurants, delivers over 10 cr orders

NEW DELHI: Online food delivery platform Swiggy on Thursday revealed it has onboarded more than 7,000 new restaurants a month on Swiggy which is 3,000 more than the pre-covid times, along with delivering 10 crore orders since the beginning of the lockdown.

3 in 4 Indian firms saw 25% rise in cyber threats during WFH

NEW DELHI:Over three in four organisations in India experienced more than 25 per cent more increase in cyber threats or alerts amid the shift to mass remote working owing to the pandemic, a new Cisco report revealed on Thursda

Wipro, SAP collaborate to help organisations boost productivity

BENGALURU:Wipro on Thursday announced it has entered into an agreement with enterprise application software provider SAP to offer advanced customer-specific content and training assets and boost productivity.

Centre open to further economic stimulus: Econ Affairs Secy

NEW DELHI:Days after Finance Minister Nirmala Sitharaman indicated that a further economic stimulus is not off the table, Secretary, Economic Affairs, Tarun Bajaj on Wednesday said the Centre is open for further measures to boost the economy.

Festive cheers: SBI offers additional concessions on home loans

NEW DELHI:Lending major State Bank of India (SBI) on Wednesday announced concession in home loan rates by as much as 25 basis points.
Accordingly, an interest concession of 25 bps will be provided for buying homes of above Rs 75 lakh, based on 'CIBIL score and through YONO' (app).

PMFAI urges govt to roll back policy on importing readymade pesticides

NEW DELHI:Highlighting that the policy to allow the import of readymade formulations without registering the technical grade pesticides will rob Indian farmers' of income and scuttle the dreams of 'Atmanirbhar Bharat', the Pesticides Manufacturers & Formulators Association of India (PMFAI) has urged the Ministry of Agriculture to repeal the related provisions of the Insecticides Act, 1968 and the Insecticides Rules, 1971 that bleed India of more than Rs 3,000 crores every year.

Consumers may get relief on petrol, diesel prices this festive season

NEW DELHI:Consumers can cheer as oil marketing companies (OMC) may actually bring down the retail prices of petrol and diesel this festive season.

Khadi launches footwear range, eyes Rs 1,000 cr share in market

NEW DELHI:Eyeing on the Rs 50,000 crore footwear market in India, Khadi Village Industries Corporation (KVIC) on Wednesday launched a range of footwear for men and women made of Khadi fabric and said that it plans to tap the Rs 1,000 crore market in the first year.

India's April-August FDI inflow rises 13%

NEW DELHI: FDI inflows into India have increased by 13 per cent during April to August 2020 on a year-on-year basis, official data showed on Tuesday.
According to the Ministry of Commerce and Industry, $35.73 billion has been received during the period under review.

Sensex above 40,900; banking, finance stocks rise

MUMBAI: The key Indian equity indices gained on Wednesday morning with the BSE Sensex trading above 40,900 mark.

SEBI asks Prabhat Dairy to deposit Rs 1,292 cr in escrow account

NEW DELHI: Finding Prabhat Dairy and its promoters to be non-cooperative in a forensic audit, SEBI has asked Prabhat Dairy to deposit within seven working days the amount of Rs 1,292.46 crore to an interest-bearing Special Escrow Account.

OYO Hotels & Homes scales up sanitisation measures

NEW DELHI: Scaling up its sanitisation measures amid the coronavirus pandemic, OYO Hotels & Homes has launched new hygiene initiatives.

Government's AC import ban may prove disruptive for industry

NEW DELHI:With the Indian government recently announcing a prohibition on import of air conditioners (AC) in a bid to bolster domestic industry and reduce import dependence, experts say that the move may disrupt the industry but also lead to a complete revamp of its functioning in the long term.

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