Corporate News - Page 30

Coronavirus outbreak highlighted vulnerabilities in medical manufacturing supply chain: Fitch Solutions

With pharmaceutical supply chains under immense pressure due to COVID-19, China's role as a global ingredient producer has come under scrutiny, Fitch Solutions has said

Govt okays subsidy rates for P&K fertilisers for FY21; estimates outgo at over Rs 22,000 cr

The government on Wednesday approved nutrient-based subsidy rates for phosphatic and potassic (P&K) fertilisers for the current financial year with an estimated burden of Rs 22,186 crore on the central exchequer

Industry leaders applaud Facebook-Jio deal; say India to be growth epicentre post-COVID crisis

Facebook's Rs 43,574 crore-investment in Jio Platforms earned accolades from industry leaders on Wednesday, even as some internet activists raised privacy concerns

Coronavirus Outbreak: Record US jobless claims wipe out post-Great Recession employment gains

A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in US history were wiped out in about a month as the novel coronavirus savages the economy

FinMin notifies changes in FDI policy; prior govt approval must for investments from countries sharing land borders

The Finance Ministry on Wednesday notified changes in FDI rules, which made prior approval of the government mandatory for foreign investments from countries that share border with India, to prevent the opportunistic takeover of domestic firms amid COVID-19 pandemic under the FEMA law

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50

The Meghalaya government has increased taxes on petrol and diesel from Wednesday amid the nationwide lockdown and plunging crude oil prices, officials said on Wednesday

Rupee rises 48 paise to 76.20 in early trade on foreign fund flows; most Asian currencies rebound

The Indian rupee appreciated by 48 paise to 76.20 against the US dollar in early trade on Thursday tracking positive opening in domestic equities and rebound in most Asian currencies

Coronavirus Impact: Two SpiceJet lessors in talks to terminate contracts, reclaim planes over missed payments, says report

One of the leasing companies started to pull out a few planes earlier this year after SpiceJet failed to pay maintenance fees due since late last year

Reliance Jio-Facebook $5.7 bn partnership: Mark Zuckerberg-led social media firm to get deeper access to India; deal to help reduce RIL debt burden

Facebook has bought a 9.9 percent stake in Reliance Jio in a multinational-dollar deal.

Facebook buys 9.9% stake in Reliance Jio: What does Mark Zuckerberg-led social media giant gain from it?

Facebook has bought a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), the telecom unit of Reliance Industries Ltd (RIL

Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal

Facebook makes the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India, Reliance Industries Limited (RIL) said in a statement.

Reliance Jio-Facebook deal: 'Marriage of two super powers, will be a transformational partnership for India', say experts

Facebook is investing $5.7 billion in Reliance Industries Ltd's (RIL) Jio Platforms

Facebook invests $5.7 billion in Reliance Industries Jio Platforms; plans digital services for Indian grocers

The deal for 9.99 percent of Jio Platforms, which houses the telecoms unit Jio Infocomm as well as other news, movie and music apps, gives Jio Platforms an enterprise value of about $66 billion, Reliance said.

Reliance Jio-Facebook partnership will accelerate India's digital transformation: Mukesh Ambani

In a video statement, Mukesh Ambani said he is delighted to welcome Facebook as a long-term partner and said the two companies will together accelerate India’s digital transformation to empower, enable and enrich people.

Reliance Jio-Facebook deal: Mark Zuckerberg shares 'excitement' over $5.7 bn partnership, says committed to connecting more people with Jio

The multibillion-dollar deal gives the Facebook a firm foothold in a fast-growing massive market and helps the Reliance Jio, the Indian oil-to-telecom conglomerate to significantly cut debt.

Facebook's Rs 43,500-cr investment in Jio likely to be big boost to telco's maiden offering plans

Facebook’s investment in Jio took the country's largest telecom company to the top-five league in market capitalisation, the report said.

Vivad se Vishwas scheme: Assessee eligible to file declarations despite issuance of notice to initiate prosecution

In the FAQ issued on 4 March, the CBDT said that where notice for initiation of prosecution has been issued with reference to tax arrears, taxpayer has a choice to compound the offence and opt for Vivad se Vishwas.

Anand Mahindra lauds Reliance Jio-Facebook deal; says 'Bravo Mukesh!' on Twitter

Anand Mahindra, Group Chairman, Mahindra lauded Mukesh Ambani, Chairman, Reliance Industries for mega Rs 43,574 -crore Reliance Jio-Facebook deal.

Reliance Jio-Facebook deal: 'Unlikely to spark any fresh round of tariff war', says brokerage firm Jefferies

Reliance Jio's tariffs are already at a 7-20 percent discount to those of peers.

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr

Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion (Rs 43,574 crore) to buy a 10 percent stake in Jio Platforms

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook

Facebook and Jio will look to drive synergies and areas of collaboration but the mega-deal does not mean that the two sides will not compete in the market, officials said on Wednesday

IBA urges govt, RBI to double moratorium period to 6 months; seeks credit guarantee for MSME loans

Bankers believed that some safety net has to be created for both industry and banks for survival first, sources said, adding, revival would follow.

NCLAT gives conditional go-ahead to NBCC for acquiring Jaypee Infratech; asks IRP to form interim monitoring committee

In its bid, the NBCC had proposed to complete over 20,000 pending flats in housing projects launched by Jaypee Infratech in Noida and Greater Noida (Uttar Pradesh).

Vodafone Group makes Rs 1,530 cr payment to Vodafone Idea under 'contingent liability mechanism'

Vodafone Group on Wednesday said it has accelerated a payment of $200 million (about Rs 1,530 crore) to Vodafone Idea, due in September 2020, under the terms of the "contingent liability mechanism"

Oil hits lowest this century as coronavirus crisis hammers demand; lockdowns to cut fuel demand steeply

The falls follow two of the wildest days in the history of oil trading, with supply looking likely to outstrip demand for months to come.

Coronavirus Outbreak: UK inflation falls as shoppers turn cautious during pandemic crisis; clothing, footwear prices dip

BoE deputy governor Ben Broadbent said on Monday inflation in Britain was likely to fall below 1% in the coming months.

Inland logistics players' volume may fall 10-15% in current financial year; operational recovery to be gradual: India Ratings

The agency pointed out that between 2016-17 and 2018-19, the logistics space in India experienced a large amount of consolidation and the share of integrated logistics players increased substantially.

OYO asks some India employees to go on leave with limited benefits, cuts fixed pay of all by 25%

OYO on Wednesday asked some of its staff in India to go on leave with limited benefits from 4 May for four months, and also asked all employees in the country to accept a cut in their fixed salaries by 25 percent due to the impact of the COVID-19 on the hospitality industry

Rupee recovers from all-time low of 76.88; closes 15 paise higher at 76.68 on gains in domestic equities

The rupee on Wednesday recovered from record low levels to settle higher by 15 paise at 76.68 (provisional) against the US dollar following gains in domestic stocks and some weakness in the greenback against global currencies

Markets buoyant at close: Sensex rallies 743 points, Nifty tops 9,150-mark; Reliance Jio's Rs 43,574 cr deal with Facebook boosts sentiment

ZEE, Reliance industries and Asian Paints remained top gainers while ONGC, Vedanta and BPCL were the top losers.