business

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm
india

Intel to acquire 0.39% stake in Jio Platforms for Rs 1,895 cr; will be 12th firm to invest in Reliance Industries' digital arm

The Intel deal values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months
business

At 8.5 percent, unemployment rate falls to pre-lockdown levels, suggests CMIE data; rural employment likely to see 'bigger gains' in coming months

India’s unemployment rate reduced to pre-lockdown levels at 8.5 percent during the week that ended on 21 June, Centre for Monitoring Indian Economy (CMIE) said.

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI
business

Google Pay says all transactions are fully protected by redressal processes laid out by RBI, NPCI

The statement comes against the backdrop of social media buzz that issues that might arise while transferring money through Google Pay cannot be redressed under law as the app is unauthorised.

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards
business

SEBI comes out with operational framework for transactions in defaulted debt securities, to be implemented from 1 July onwards

Markets regulator SEBI allowed transactions in defaulted debt securities and put in place operational framework for such transactions

Abolishing Handloom, Handicraft Boards during COVID-19 crisis is hasty move, reflecting govt's neglect of sectors
art & culture

Abolishing Handloom, Handicraft Boards during COVID-19 crisis is hasty move, reflecting govt's neglect of sectors

These measures are likely to push the traditional and informal sectors into crisis, just like the British pushed the weavers into unemployment and poverty

Sashidhar Jagdishan set to be next CEO of HDFC Bank; Aditya Puri's successor joined back in 1996
business

Sashidhar Jagdishan set to be next CEO of HDFC Bank; Aditya Puri's successor joined back in 1996

Jagdishan, a chartered accountant by profession, is a science graduate and has a Master's degree in Economics of Money, Banking and Finance. He has over 29 years of experience in the banking industry

Wockhardt strikes deal with UK govt to manufacture, supply COVID-19 vaccines
health

Wockhardt strikes deal with UK govt to manufacture, supply COVID-19 vaccines

The drug firm is expected to deliver about 60 million doses of multiple vaccines against the coronavirus, including the one co-invented by Oxford and AstraZeneca, in the next few months

GST Council to discuss Attorney General's opinion on compensation, says Nirmala Sitharaman
business

GST Council to discuss Attorney General's opinion on compensation, says Nirmala Sitharaman

The attorney general has said that there is no obligation on the Central government to pay the GST compensation shortfall to the states.

GST collections fall to Rs 87,422 crore in July from Rs 90,917 crore in June
business

GST collections fall to Rs 87,422 crore in July from Rs 90,917 crore in June

However, July collections are higher than Rs 62,009 crore in May and Rs 32,294 crore in April.

Reliance Industries Ltd reports 31% year-on-year rise in net profit during Q1
business

Reliance Industries Ltd reports 31% year-on-year rise in net profit during Q1

The company had posted a net profit of Rs 10,104 crore in the corresponding quarter last year

COVID-19 Outbreak: Railways to incur Rs 35,000 to 40,000 crore loss from passenger train services this fiscal
business

COVID-19 Outbreak: Railways to incur Rs 35,000 to 40,000 crore loss from passenger train services this fiscal

The railways have achieved record loading of foodgrains, 80 percent more than last year, and has introduced timetabled parcel services, the Railway Board chairman said.

Govt unlikely to achieve FY21 Budget targets due to COVID-19, but expect 'V-shape' recovery next year: DEA Secretary
india

Govt unlikely to achieve FY21 Budget targets due to COVID-19, but expect 'V-shape' recovery next year: DEA Secretary

Economic Affairs Secretary Tarun Bajaj said that if India is not saddled with any more surprises, the financial situation may not be as bad as the outside world thinks it will be

Mukesh Ambani now fifth richest billionaire globally, pips Elon Musk, Steve Ballmer
business

Mukesh Ambani now fifth richest billionaire globally, pips Elon Musk, Steve Ballmer

With a net worth of $77.3 billion, Mukesh Ambani is also the only Asian to feature in the top 10 in Forbes' Real Time Billionaires List, placed after Mark Zuckerberg

YES Bank FPO: Here’s how to check your allotment status; offer had received 93% subscription on last day of bidding
business

YES Bank FPO: Here’s how to check your allotment status; offer had received 93% subscription on last day of bidding

In its prospectus, YES Bank has mentioned that the funds raised via FPO will be used for growth and expansion.

YES Bank shares plunge 20% as stock continues with its losing streak for fourth straight session
business

YES Bank shares plunge 20% as stock continues with its losing streak for fourth straight session

Even though YES Bank had sell orders in the Rs 14.60 to Rs 14.80 range on the Bombay Stock Exchange, it had no buyers.

IndiGo to lay off 10% of workforce as COVID-19 hits business; affected employees to get notice, severance pay
india

IndiGo to lay off 10% of workforce as COVID-19 hits business; affected employees to get notice, severance pay

Over 2,300 employees will lose their jobs even as IndiGo continues to fly a small percentage of its full fleet of 250 airplanes in view of the coronavirus pandemic

Reliance Industries launches new virtual platform 'Chatbot' via WhatsApp, ahead of RIL's first online AGM tomorrow
business

Reliance Industries launches new virtual platform 'Chatbot' via WhatsApp, ahead of RIL's first online AGM tomorrow

For easy onboarding of its shareholders, RIL has launched an educative Chatbot via Whatsapp number +91-79771-11111 to nuance processing of logging in, asking questions, and voting on the resolution.

The Alston Report: How misleading statistics have been used to create a sense of triumphalism over global poverty
business

The Alston Report: How misleading statistics have been used to create a sense of triumphalism over global poverty

If we were to increase the poverty line to a fairer standard of $5.5 Rs 413), we would find that the number of people under poverty has remained more or less stagnant, decreasing negligibly from 3.5 to 3.4 billion.

Maker spaces hold key to revolutionising education in India, making country truly self-reliant
india

Maker spaces hold key to revolutionising education in India, making country truly self-reliant

In an effective Atal Tinkering Lab, the traditional rules of classrooms don’t apply. The teacher becomes a facilitator gently nudging students while focussing on practical applications

Banks must be allowed to grow their way out of NPA crisis, veteran banker KV Kamath tells Network18
business

Banks must be allowed to grow their way out of NPA crisis, veteran banker KV Kamath tells Network18

Kamath said that the coronavirus pandemic is likely to lead to a bad loan tsunami, and banks have no choice but to grow their way out of it.