Corporate News - Page 14

Rupee rises 6 paise to 75.50 in early trade; investors await fresh cues from Nirmala Sitharaman's PC today

The rupee appreciated marginally by 6 paise to 75.50 against the US dollar in early trade on Friday as investors await fresh cues from further announcements on the fiscal stimulus package

Jet Airways-KLM deal for Dutch business fails to take off; regulatory clearance approval declined

Jet Airways was grounded in March last year after it ran out of cash for operations.

CCI dismisses unfair business practices complaint against SBI, Patanjali, International Traders

Fair trade regulator CCI on Thursday dismissed a complaint alleging abuse of dominant position by SBI and collusion with Patanjali Ayurveda and International Traders in a bidding process

Stimulus package: Govt announces free foodgrain to migrants, concessional credit to farmers

The government on Thursday announced a Rs 3.16 lakh crore package of free foodgrains for migrant workers, concessional credit to farmers and working capital loan for street vendors as part of the second tranche of fiscal stimulus to heal an economy hit hard by coronavirus lockdown

Investor wealth plunges Rs 1.99 lakh cr as markets plunge on weak global cues, rising coronavirus cases

Global markets tanked following the World Health Organisation's (WHO) comments that the novel coronavirus "may never go away".

Coronavirus Outbreak: Leather goods exporters stare at 40-50% dip in shipments in FY21; govt yet to give any major relief measures

In West Bengal, some tanneries and leather manufacturing units in Bantala are operational for the last two weeks, but with skeletal workforce.

PNB scam: Fugitive diamond merchant Nirav Modi's extradition case in UK adjourned until September

The UK court hearing the extradition case of fugitive diamond merchant Nirav Modi, wanted in India on charges of fraud and money laundering amounting to an estimated $2 billion, on Thursday adjourned the trial to be resumed from 7 September

GMR, Adani, Reliance Infra in race for 2 railway stations development in Andhra Pradesh; to be built under DBFOT model

The pre-bid meeting comes after RLDA floated an RFP inviting bids for the selection of a suitable public or private entity for re-development of Nellore and Tirupati railway stations.

Stimulus package: Nirmala Sitharaman says housing subsidy scheme for middle-income families extended till March 2021

Finance Minister Nirmala Sitharman on Thursday announced a Rs 70,000-crore boost to the housing sector by extending the subsidy scheme for affordable housing for the middle-income group

Delhi HC seeks Centre's reply on plea to de-link Aarogya Setu app from website promoting e-pharmacies; next hearing on 29 May

The plea said the authorities have allowed government developed mobile application Aarogya Setu to be used for the benefit of selected handpicked companies.

Yes Bank scam: ED arrests DHFL promoters Kapil Wadhawan, brother Dheeraj for money laundering

The Wadhawans are presently in jail after being arrested by the Central Bureau of Investigation (CBI), which is also probing the same case.

MoneyGram partners with Federal Bank; tie-up aims to expand account deposit capabilities for millions

Federal Bank enjoys a market share of more than 15 percent of the remittance market in India, and the tie-up with MoneyGram is expected to provide a further boost to this business.

Rupee settles 10 paise lower at 75.56 on concerns over fiscal deficit due to Rs 20-lakh cr stimulus package

The rupee slipped 10 paise to close at 75.56 (provisional) against the US dollar on Thursday, tracking weak domestic equities

Coronavirus pandemic to eat up half of dine-in restaurants' revenue in FY21: CRISIL Research

The COVID-19 pandemic is likely to cut 40-50 percent revenue of the country's organised dine-in restaurants this financial year, according to a report

Stock Market Latest Updates: Sensex plummets 886 points, Nifty below 9,150-mark; Tech Mahindra, Infosys among top losers

Stock Market Latest Updates: Sensex plummets 886 points, Nifty below 9,150-mark; Tech Mahindra, Infosys among top losers

Fiscal deficit likely to be more than double to 7.9% in FY21 due to govt's Rs 20-lakh cr stimulus package: Report

With the government's Rs 20 lakh crore stimulus package, the country's fiscal deficit is likely to be more than double to 7.9 percent in the current financial year, according to an SBI research report

RBI slaps Rs 5 lakh fine on UCO Bank for violating govt bond holding norms

Public sector lender UCO Bank on Thursday said the Reserve Bank has imposed a penalty of Rs 5 lakh for violating norms on government bond holding

Bandhan Bank expects recovery of loans extended to micro-credit customers to start from second quarter of FY21

Private lender Bandhan Bank said on Thursday that recovery of loans extended to micro-credit customers will happen from the second quarter of the 2020-21 fiscal

Govt releases truncated April WPI inflation data; reports 10.12% deflation in fuel, power basket

The government on Thursday released truncated data for April wholesale price-based inflation saying there was limited transaction of products in the market due to the outbreak of COVID-19

UK court played video of Nirav Modi's threats to 'dummy directors' associated with companies linked to diamond merchant

Threats of being implicated for theft and even being killed are among the allegations caught on camera in a video recorded by so-called "dummy directors" associated with companies linked to Nirav Modi, which was submitted by the CBI to the UK court hearing the extradition case against the diamond merchant charged with fraud and money laundering

Stimulus package: Govt's liquidity boosting steps to safeguard businesses, jobs, say retailers

Retailers on Wednesday said measures announced by Finance Minister Nirmala Sitharaman will bring back liquidity with businesses and provide a boost to the economy

Bankers welcome economic package announced by govt, say will encourage lending to MSMEs

The various initiatives announced by the government on Wednesday to support micro, small and medium enterprises (MSMEs) will encourage banks to lend more to the sector, bankers said

Coronavirus Lockdown: PFC, REC to infuse Rs 90,000 cr liquidity into cash-strapped discoms

Finance Minister Nirmala Sitharaman on Wednesday announced Rs 90,000 crore liquidity infusion into cash-strapped discoms, facing demand slump due to the lockdown to contain COVID-19

Global trade fell 3% in first quarter of 2020 due to COVID-19, downturn to accelerate in next quarter: UN

The coronavirus pandemic has led to a three percent drop in global trade in the first quarter of 2020 and this downturn is expected to accelerate in the next quarter to project a whopping quarter-on-quarter decline of 27 percent, the UN trade body has warned

Former liquor baron Vijay Mallya asks govt to accept loan repayment offer, close case against him

Embattled liquor baron Vijay Mallya, who is fighting against his extradition to India, on Thursday asked the government to accept his offer to repay 100 percent of his loan dues and close case against him

Rupee falls 13 paise to 75.59 in early trade on weak opening in domestic equities; dollar strengthens overseas

The rupee depreciated 13 paise to 75.59 against the US dollar in opening trade on Thursday amid strengthening American currency overseas and negative opening of domestic equities

Kerala to hike IMFL prices steeply, to issue ordinance soon; govt eyes to gain extra revenue during lockdown

At present, the sales tax on IMFL is 202 percent for brands priced up to Rs 400 and 212 percent for brands above that.

Coronavirus Outbreak: SEBI reaches out to market participants; discusses capital raising, disclosure issues

Tyagi said SEBI has been responding to market developments through appropriate measures in consultation with various stakeholders.

PNB scam: Indian govt submits more proof against fugitive Nirav Modi in money laundering case

The Indian government on Wednesday submitted further documents as "corroboratory evidence" in its case of fraud and money laundering against fugitive diamond merchant Nirav Modi, who is contesting his extradition to India at an ongoing hearing in Westminster Magistrates' Court in London

Rupee rises by 5 paise to close at 75.46; Rs 20-lakh cr economic stimulus package bolsters investor sentiment

The rupee appreciated by 5 paise to 75.46 against the US dollar on Wednesday as a fiscal stimulus by the government bolstered investor sentiment