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

HCL Technologies to acquire Australia’s DWS Ltd for Rs 850 crore; shares up by 4.01% on BSE
india

HCL Technologies to acquire Australia’s DWS Ltd for Rs 850 crore; shares up by 4.01% on BSE

DWS, with FY20 revenue at AUS $167.9 million, has over 700 employees and offices in Melbourne, Sydney, Adelaide, Brisbane, and Canberra

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct
business

SC rejects SBI plea for resuming insolvency proceedings against Anil Ambani; matter listed for 6 Oct

The State Bank of India had moved the apex court to recover Rs 1,200 crore that it had loaned to two firms of the then-chairman of Reliance Communications

'GDP a reflection of ravages of COVID-19': RBI Guv Shaktikanta Das says economic recovery likely to be gradual
business

'GDP a reflection of ravages of COVID-19': RBI Guv Shaktikanta Das says economic recovery likely to be gradual

The RBI governor said the Indian central bank stands battle-ready to take whatever steps that are needed to be taken for the economy

US-China trade war: WTO says American tariffs on Beijing in 2018 broke global trade rules
world

US-China trade war: WTO says American tariffs on Beijing in 2018 broke global trade rules

The Donald Trump administration has continued to play an active role in the World Trade Organisation, but many of Trump’s biggest trade offensives over the past three years have bypassed the organisation’s rules

Happiest Mind Technologies hits IPO gold; all you need to know about this Bengaluru-based startup
business

Happiest Mind Technologies hits IPO gold; all you need to know about this Bengaluru-based startup

Chairman Ashok Soota said he was confident of filing an IPO, and added that almost 76% of his revenue was not affected by the lockdown

Industrial production declines 10.4% in July; capital goods, consumer durables see max contraction
business

Industrial production declines 10.4% in July; capital goods, consumer durables see max contraction

Manufacturing sector, which constitutes 77.63 percent of the IIP, recorded a decline of 11.1 percent in July as against a growth of 4.8 percent in same month last year

EPFO to pay 8.5% interest for FY20 in two instalments, cites COVID's impact on income
business

EPFO to pay 8.5% interest for FY20 in two instalments, cites COVID's impact on income

An instalment of 8.15% will be paid for now, and the remaining 0.35% will be credited by December

Silver Lake to invest Rs 7,500 cr in Reliance Retail for 1.75% stake; private equity firm holds 2.08% in Jio Platforms
business

Silver Lake to invest Rs 7,500 cr in Reliance Retail for 1.75% stake; private equity firm holds 2.08% in Jio Platforms

With this deal, Jio Platforms and Reliance Retail now account for over Rs 9 lakh crore of RIL's valuation.

India's 23.9% GDP contraction 'should alarm us all', writes ex-RBI governor Raghuram Rajan
business

India's 23.9% GDP contraction 'should alarm us all', writes ex-RBI governor Raghuram Rajan

Given the length of the pandemic, more direct cash transfers to the poorest households, especially in urban areas that do not have access to MNREGA, is warranted.

ED arrests businessman Deepak Kochhar, husband of ex-ICICI Bank CEO Chanda Kochhar, in money laundering case
india

ED arrests businessman Deepak Kochhar, husband of ex-ICICI Bank CEO Chanda Kochhar, in money laundering case

The ED had slapped money laundering charges against the Kochhars and their business entities for 'illegal sanctioning of loans amounting to Rs 1,875 crore to the Videocon Group of companies'.

SBI proposes Voluntary Retirement Scheme for about 30,000 employees as it seeks to optimise costs
business

SBI proposes Voluntary Retirement Scheme for about 30,000 employees as it seeks to optimise costs

The scheme, Second Innings Tap VRS-2020, is aimed at optimising human resources and costs of the bank

Nirav Modi extradition trial begins today: UK court rejects plea seeking partial ban on reportage of case
business

Nirav Modi extradition trial begins today: UK court rejects plea seeking partial ban on reportage of case

The 49-year-old fugitive diamantaire was arrested on 19 March, 2019, on an extradition warrant executed by Scotland Yard on charges of fraud and money laundering brought by the Indian government

Borrow more to stimulate demand, revive economy: P Chidambaram to Centre
india

Borrow more to stimulate demand, revive economy: P Chidambaram to Centre

The senior Congress leader sought transferring cash to the poorest 50 percent of families and paying arrears of GST compensation to states

GST an 'absolute failure', second major attack on India's unorganised economy, claims Rahul Gandhi
politics

GST an 'absolute failure', second major attack on India's unorganised economy, claims Rahul Gandhi

The Congress leader had earlier said that demonetisation was the first attack on the informal sector of the economy

'Act of sovereign default': Hemant Soren writes to PM against Centre's GST compensation proposal
politics

'Act of sovereign default': Hemant Soren writes to PM against Centre's GST compensation proposal

Nirmala Sitharaman, in the 41st meeting of GST Council on 27 August, ruled out paying compensation to states

Andhra Pradesh retains top position in ease of doing business rankings 2019
business

Andhra Pradesh retains top position in ease of doing business rankings 2019

Uttar Pradesh and Telangana were at the second and third place respectively, in the rankings prepared by the Department for Promotion of Industry and Internal Trade