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DICV enters used truck business with BharatBenz Exchange: Key benefits listed!

Experts at BharatBenz will support used vehicle buyers (both individuals and companies) with a wide range of options suitable to their application. They will also provide the right AMC and extended warranty options for their

daimler BharatBenz commercial vehicles

Covid-19 Impact: Uber yet to see recovery of its mobility business in India

Globally, Uber has slashed around 6,700 jobs but has resumed fresh hiring for select job profiles.  Talking about mobility in general, the workday commute is back and markets like Hong Kong, New Zealand and Sweden have seen

To conserve cash, Uber gave up its office space in Mumbai and had also laid off 600 permanent employees across operations in India in May.

Seed war? Centre alerts states about unsolicited parcels

The agriculture ministry’s missive to states on August 6 followed similar advisories issued by the US department of agriculture (USDA) and other agencies recently.

Seed companies requesting anonymity said that when import is done through proper channel the risk is minimised.

No harassment: Govt to soon bring in taxpayers’ charter, says Nirmala Sitharaman

Highlighting several steps taken by the government to protect honest taxpayers from unnecessary harassment, the minister said only a very few countries, such as Australia and the US, currently have such charters in place.

Sitharaman had also proposed steps to remove criminal liability for offences under the Income Tax Act, which are essentially civil in nature.

AGR dues: Vodafone Idea to raise funds after clarity from Supreme Court

The company is looking for a 15-20 year period to clear the dues. The SC has reserved its order in the matter

In the past the company's promoters have said that they are not going to put in any more funds as it would amount to putting good money after bad.

Covid-19 vaccine: Serum Institute to receive $150 million support from Gates Foundation

Coronavirus vaccine: SII, owned by the Pune-based Poonawalas, is the world’s largest vaccine manufacturer by volume and is working on multiple Covid-19 vaccines.

SII has received approval from DCG to conduct Phase 2 and 3 human trials for the the Oxford University Covid-19 vaccine project.

RBI sets up 5-member panel under KV Kamath to assist in loan recasts

Diwakar Gupta and TN Manoharan will be part of committee after they complete their terms in their respective organisations.

It will be empowered to consult or invite any person it deems fit, and can devise its own procedures for its internal functioning, the RBI said.

India is Zoom’s second-largest market after US: CEO Eric Yuan

The US-headquartered company, which offers 40 minutes of free video calling, has 21 offices globally, including India, UK, and Japan.

Zoom was built to serve business customers.

Rural jobs scheme won’t face any funds constraint, Centre tells MPs

Already half of the estimated 300 crore persondays for the whole year were created in the first four months of the current fiscal.

With eight months still to go, members said, the demand for work might exceed the estimate and that might call for more allocation for the scheme.

Franklin Mutual Fund’s six shut schemes receive Rs 4,280 crore since closure

As on July 31, 2020, while two schemes were already cash positive, the borrowing levels in other schemes continued to come down steadily.

On April 23, six debt schemes collectively worth Rs 25,800 crore were wound down by Franklin Templeton MF due to the severe market dislocation and illiquidity caused by the Covid.

‘Will have to shut down’: SEZ-based solar manufacturers oppose basic customs duty on import of solar cells

If the BCD is imposed, those in the domestic tariff area who buy cells and modules from the SEZ units will have to pay the duty under the 2005 SEZ Act.

The government is also considering to impose a 20% BCD on solar imports; a final call on this is yet to be taken.

Aurobindo Pharma working on Covid vaccine shortlisted for funding by BIRAC

The research is part of its initiative to develop a wide range of viral vaccines and it has identified four products for development, including one for treating Covid-19, at its centre in Pearl River, New York.

The company’s vaccines pipeline consists of both bacterial and viral ones.

Markets end flat, post weekly gains – How Nifty, Sensex performed this week

According to a report by Motilal Oswal Institutional Equities, valuations of Nifty Midcap stocks have shot up and they are trading at 20.8 times price earnings ratio, the same at Nifty.

During the week, the Nifty Midcap rose by 4.1% while both the Nifty and Sensex were up by over 1%.

India’s forex reserves increase by $11.9 billion to hit $534.5 billion

Movement in the FCA occurs mainly on account of purchase or sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of as

A BofA Securities report dated July 21 states Indian markets will likely see greater portfolio inflows going ahead as adequate forex reserves cut rupee risks.

Consumer confidence plummets to all-time low in July: RBI Survey

However, the future expectations index (FEI) charted back into the positive territory, indicating signs of recovery for the year ahead.

The data was compiled on the basis of the central bank’s consumer confidence survey.

Despite several deadlines, 70% of restaurants in South Delhi haven’t renewed health trade licences

NRAI has also sought clarity from the North Delhi Municipal Corporation and NDMC on their extension programme, Goyle added.

Most of the restaurants in south Delhi accommodate up to 50 seats.

WhiteHat Jr buy to help Byju’s speed up global expansion plans, boost offerings portfolio

A little over a month after Byju’s raised fresh funds that valued it at $10.5 billion, the Bengaluru-based company acquired WhiteHat Jr in a $300 million all-cash deal.

Since the lockdown, Byju’s claims to have seen over 15 million new students start learning from its platform.

M&M profit plunges 96%, company to keep investing in successful business, says Anand Mahindra

MD and CEO Pawan Goenka said the quarter was much better compared with the expectations as the demand was robust and production ramp-up has also happened better than what was expected.

He further said the company has already started identifying and taking appropriate actions on businesses that have not lived up to expectations.

Sobha’s Q1 net profit plunges 86% to Rs 7 crore as Covid hits business

The Bengaluru-headquartered company’s consolidated total income fell 61% Q-o-Q to Rs 359 crore in the April-June quarter.

“The quarter gone by has been the most unprecedented and challenging one so far,” Sobha said.

SEA estimates oilseed production at 251 lakh tonne, up 3%

According to SEA’s estimates, the area under kharif and rabi oilseeds crop for 2019-20 has marginally increased to 260.07 lakh hectare, from 258.45 lakh hectare last year.

According to the SEA, sesame seed crop production increased to 5.50 lakh tonne from 4.86 lakh tonne last year.

Tube Investments to pick up controlling stake in troubled CG Power for Rs 700 crore

The warrants will be convertible into equivalent number of equity shares at the option of TII within 18 months from the allotment.

CG Power, engaged in the industrial and power sectors, is under financial stress and its lenders have initiated the resolution process of stressed assets in terms of prudential framework.

Markets give thumbs up to RBI policy, Sensex surges 362 points

The Nifty Bank closed the day at 21,642.6. It, however, continued to underperform the broader markets. Since the start of the week, Nifty Bank has risen by 2.7%, compared with 2.8% for the Nifty.

Markets, RBI policy, Nifty Bank, Shaktikanta Das, repo rate, MSME loans, HDFC Securities, RBI monetary policy

Cargill invests $15 million to set up plant in Pune for cattle supplements

Cargill has opened a high-pressure hydrogenation plant in Kurkumbh, Pune

Cargill, bioindustrial plant,pune, hydrogenation plant, Kurkumbh, Cargill Bioindustrial, cattle supplements 

Embassy REIT posts marginal rise in operating income to Rs 457 cr

The company’s net operating income margin stood at 88%, up 400 basis points y-o-y, reflecting efficiencies of scale and rigorous expense management.

Embassy REIT, Embassy REIT net operating income, covid 19 pandemic, Michael Holland, Rental collections,Embassy Office Parks REIT

‘Balanced trade’: Piyush Goyal wants FTA to be tweaked to lower trade deficit with Japan 

Commerce and industry minister Piyush Goyal addressed a virtual seminar for Japanese companies looking to invest in India.

AGR dues widen Vodafone-Idea’s loss to Rs 25,467 cr; telco lost more than it made in last 2 quarters

Vodafone Idea on Thursday once again posted one of its biggest losses during the April-June quarter at Rs 25,467 crore, largely weighed down by its adjusted gross revenue dues.

RBI grants banks one-time window to recast loans in sectors under stress due to Covid

RBI said that the expert committee would have the responsibility of vetting the resolution plan of all accounts where the aggregate exposure is Rs 1,500 crore and above.

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