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Cut in export benefits: In talks with finance ministry to resolve MEIS issue early, says Piyush Goyal

The finance ministry, tackling a difficult fiscal situation, is believed to hold the view that while the scope of MEIS continued to widen over the last five years, leading to higher outgo from the exc

Reliance Jio net profit up 8%, Arpu rises to Rs 140

Hike in tariffs undertaken in December 2019 reflected in the jump in average revenue per user (Arpu) which stood at Rs 140.3, higher than analyst estimates of Rs 137.

On other operating metrics, Jio continues to perform on expected lines.

Favipiravir price war! Hetero joins COVID-19 medicine race; Launches generic ‘Favivir’

Covid-19 medicine: The company has been granted the manufacturing and marketing approval for favipiravir by the Drug Controller General of India (DCGI).

Hetero’s Favivir is priced at Rs 59 per tablet and is marketed and distributed by Hetero Healthcare.

National Education Policy 2020: Public investment in education seen doubling in a decade

To improve quality of teachers, the B.Ed. programme will be replaced by a four-year integrated programme that combines high-quality content, pedagogy, and practical training.

Hit by AGR dues, Bharti Airtel posts consolidated net loss of Rs 15,933 crore

In the preceding quarter, Bharti had posted a net loss of Rs 5,237 crore, when it had made a provision of Rs 7,000 crore on account of AGR dues and one-time spectrum charge.

Barring these two prepaid plans, the offer will not be applicable to any other prepaid or postpaid plan.

Stretched credit profile: Moody’s downgrades outlook on Vedanta Resources to negative

The agency has confirmed Vedanta Resources' B1 corporate family rating (CFR) and the B3 rating on the company's senior unsecured bonds.

“The negative outlook also reflects the acute refinancing risk associated with the company's large debt maturities,” Moody's noted.

Device to prevent Coronavirus! USFDA clears Shycocan which neutralises 99.9% virus floating in closed spaces

It can be used to prevent infection and is not medicine or an alternative to a vaccine that can cure infected people.

coronavirus, coronavirus prevention device, Cytotron, Hypercharge Corona Canon, 

Dil Bechara becomes huge hit on Disney+Hotstar! Sushant Singh Rajput’s last film garners record viewership

While the young actor’s sudden demise and the overwhelming sympathy has been a factor, the surge in viewership can be also be attributed to the fact that the film is not behind a paywall.

Shailesh Kapoor, CEO at Ormax Media estimates the AVOD (advertisement-based video on demand) segment makes up about 40%-60% of Hotstar’s user base.

Exporters lose over two-thirds of duty remission benefits after govt caps MEIS outlay

The MEIS would remain valid until December this year and is to be replaced with a more WTO-compatible scheme, RoDTEP, which reimburses all levies (that are not subsumed by GST) paid on inputs consumed

Merchandise exports have been contracting since March.

In slow gear: Pace of recovery nowhere near comfort level

The pace of recovery remains stuck at around 30pp below normal, as worsening mobility and employment data offset higher power demand.

employment data offset, post lockdown, power demand, indian economy, Nomura

HDFC chairman Deepak Parekh urges RBI not to extend loan moratorium beyond August, here’s why

Governor Das said he had ‘noted’ the suggestions made by industry captains, adding, “I will not be able to comment on any one of them now.”

Taxmen dodge massive GST fraud as exporters claiming Rs 2,000 cr refund go missing on verification

As many as 1,474 exporters have gone untraceable after fraudulently claiming over Rs 2,000 crore of integrated GST (I-GST) refunds, in what shows the extent of tax evasion attempts in the GST regime.

Infra non-performing assets remain high: Shaktikanta Das

Das observed the spectacular progress in renewable energy has set the stage for India to scale up the share of renewable energy in total electricity generation to 40% by 2030.

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Covid-19: India to have highest daily Coronavirus cases in world! To surpass US in two weeks, data suggests

Coronavirus cases in India: What is worrying is that as India’s testing levels have risen, so have positivity levels; positivity is defined as the number of new infections as a share of the number o

Covid-19 cases: Karnataka, Andhra Pradesh lead Southern surge; Record one-lakh infections

Covid cases in South India: What’s worrying is that most of the infections in AP and Karnataka have been detected in the last one month, 85% of them since early July.

4G spectrum: Telcos buying equipment from Chinese vendors like Huawei, ZTE may be barred from upcoming auction

Once finalised, private telecom operators such as Bharti Airtel and Vodafone Idea may not be able to buy telecom equipment from Chinese vendors like Huawei and ZTE.

The Cellular Operators Association of India (COAI) has so far been opposed to any restrictions being put on Chinese vendors and has said geopolitical issues should not be mixed with business.

India Inc weathers tumultuous Q1 – software firms and FMCG players acquit themselves; reviving demand a challenge

Britannia, which turned in a strong performance in Q1FY21 as it was able to overcome logistical challenges to meet the surging demand, should continue to do well even after the unlocking.

JSW Steel reported a loss in the quarter, the first since Q3FY16, on the back of a 25% fall in shipments and a 22% drop in realisations.

India-US ‘limited’ deal to cover just 15% of trade – Details

The restoration of GSP benefits will mean dutyfree Indian supplies of over $6 billion a year (the tariff forgone for the US was $240 million in 2018).

This deal is expected to be almost evenly balanced in terms of trading value for both the partners and could be followed by talks on a potential free trade agreement (FTA).

Government working on a plan to revamp India Post; could soon turn into a full fledged bank

Loss-making India Post, having a size and workforce hugely disproportionate to its shrinking role, may reinvent itself by becoming a full-fledged bank.

India Post’s FY20 pay and allowances were estimated to be Rs 17,451 crore or in FY20 or 142% more than revenues of Rs 12,211 crore.

Rural job scheme meets half its revised target of 300 crore person work days, demand still unmet

Over 152 crore person (work) days have been created under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) so far during the current fiscal.

In the April-July period of last fiscal, the person days created under the scheme were just 116 crore.

ICICI Bank Q1 Results: Stake sales help report 36% rise in net profit

Bottom line was cushioned by Rs 3,092-cr income from stake sale in its subsidiaries

The bank further plans to raise money from stake sale in its subsidiaries in the current financial year.

Rs 19,350-crore BPSL resolution plan: JSW says not ‘obligated’ to implement it; awaiting SC verdict

Seshagiri Rao, joint managing director and group chief financial officer, JSW Steel, told FE that the company is ready to implement the resolution plan and is awaiting Supreme Court’s verdict on the

Warehousing firms see Covid impact ‘temporary’; expects growth back in short-to-medium term

“Despite the economic slowdown and pandemic, warehousing remained largely resilient recording growth of 44% CAGR in last three years," said Shishir Baijal, CMD, Knight Frank India.

warehouse, logistics, supply chain, exports

Now buy your favourite imported liquor from malls in UP; state govt to allow sale from this date

The Uttar Pradesh government has decided to allow the sale of imported foreign liquor worth more than Rs 700 and cans of beer worth Rs 160 or more from shopping malls through premium retail vends.

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India heading for another NPA crisis? RBI predicts bad loans could be as high as 12.5% by March

The report also highlighted the deleveraging by the private corporate sector over the recent years stalled during the second half of 2019-20 as leverage ratios increased due to higher borrowings.

Going Green: NTPC to buy 1 GW of solar plants to reduce its carbon footprints

NTPC, in February, had also signed an ‘implementation support agreement’ with Rajasthan to develop a 925 MW Nokh solar park in Jaisalmer.

Cricket in time of Covid: Come September, an IPL sans fans in UAE

Though the revenue earning capacity seems to have got a bit dented, Goyal still maintains that since IPL is the best possible window for festive sales, Star has the potential to make ad revenues of ar

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