Amazon gets stay on RIL-Future deal

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Kishore Biyani’s deal to sell off Future Group assets to Mukesh Ambani’s Reliance Industries for Rs 24,713 crore is now on hold. The Singapore International Arbitration Centre (SIAC) has granted an interim relief in the issue to the Jeff Bezosled Amazon, for now, two people aware of the matter said.

Ananya Birla, the daughter of Aditya Birla Group’s billionaire chairman Kumar Mangalam Birla, has slammed a US restaurant for being “racist”, saying the Italian-American dining place in California “literally threw” her and her family out of their premises.

Telecom operator Bharti Airtel on Monday entered the rapidly-growing cloud communications market with the launch of business-centric ‘Airtel IQ’. It aims to enable brands to deepen engagement with customers through timely and secure communication, a company statement said, terming the move as a “game changer” for the fast-evolving Indian enterprise communication segment.

Indian conglomerate Reliance has dismissed Amazon’s push to delay its acquisition of domestic retail giant Future Group, despite an arbitration panel suspending the deal following objections by the US online titan.

AAIL now has range of hot meals in the sky, with nine options including vegan, vegetarian, pescetarian, eggetarian and Jain meal options for guests, apart from sandwiches and desserts. AAIL will also serve complimentary 200ml Aava disposable water bottles to guests on request, the airline said in a statement.

A London court on Monday rejected the bail application filed by fugitive diamantaire Nirav Modi, the seventh such rejection by courts of the United Kingdom. Nirav, who is wanted in connection with the Rs 13,000 crore Punjab National Bank fraud perpetrated by him and his uncle Mehul Choksi, was arrested in London on March 19 … Continue reading Nirav Modi’s bail plea rejected for seventh time

PM Modi lays down India’s energy map

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Prime Minister Narendra Modi on Monday said that India’s energy future is bright and secure and energy security is one of the prime focus of the government.

Investor wealth tumbled Rs 1.98 lakh crore as markets witnessed heavy selling pressure following losses in Reliance Industries. The 30-share BSE index plunged 540 points or 1.33 per cent to close at 40,145.50. During the day, it tanked 737.21 points to 39,948.29.

Travellers from India and many other countries will need to undertake Covid test twice while going to Dubai. While till now they required a negative report from a RT-PCR test done within 96 hours before flying there, Dubai has added a test on arrival for them.

At 5:30 pm on Monday, Aditya Puri stepped out of HDFC Bank’s corporate headquarters after handing over charge to Sashidhar Jagdishan as the new chief executive and managing director of the largest private sector lender.

US President Donald Trump has been “weak and chaotic” with China on trade and could not lead an effective strategy to mobilise a true international effort to pressure, isolate, and punish Beijing to strengthen manufacturing jobs across the country, Democratic presidential candidate Joe Biden has alleged.

Lee Kun-Hee, the ailing Samsung Electronics chairman who transformed the small television maker into a global giant of consumer electronics, has died. He was 78. Lee Kun-hee inherited control from his father and during his nearly 30 years of leadership, Samsung Electronics Co. became a global brand and the world’s largest maker of smartphones, televisions … Continue reading Lee Kun-Hee, force behind Samsung’s rise, dies at 78

The winter schedule for flights, which comes into effect Sunday, will begin with 44% less domestic connectivity than last winter. Accordingly, the Directorate General of Civil Aviation (DGCA) has cleared a schedule for 12,983 weekly domestic flights covering 95 airports in winter 2020-21 — down 44.3% from 23,307 in winter 2019-20.

Wholesale onion prices fell by up to Rs 10 per kg in key consuming markets such as Delhi, Mumbai and Chennai with increase in arrival of the perishable commodity after the government imposed stock limits on traders to check hoarding and price rise, government data showed.

Yes Bank lacked a culture of cost control, and under the new management, the lender is targeting to reduce operational expenses by 20 per cent in FY21 by rationalizing branches and ATMs, giving up unwanted leased spaces and renegotiating rents, a top official has said.

Billionaire Mukesh Ambani-led Reliance Industries is rolling back salary cuts for the employees of its hydrocarbons division and is also giving out performance bonus that had been deferred after business was hit by coronavirus lockdown.

RBI governor Shaktikanta Das on Sunday said he has tested positive for Covid-19. The governor is asymptomatic and has said that he will work from home till he recovers from the coronavirus. “I have tested Covid-19 positive,” said the governor in a tweet. Das also said that he will work from home till he recovers … Continue reading RBI governor Shaktikanta Das tests positive for Covid-19

Petroleum minister Dharmendra Pradhan told TOI that the government has successfully used the energy space to address consumer needs, while turning it into a diplomatic and trade tool. He also said India has stuck to its commitments on climate change, despite not being a pollutant.

In a major blow to companies ranging from FMCG and liquor to consumer durables and footwear, the government-controlled Canteen Stores Department (CSD), which operates canteens for the defence forces, is set to ban all ‘direct imported’ items.

Regulator Sebi has banned Yashovardhan (Yash) Birla from the market for two years. The action is due to misutilisation of funds collected through the initial public offering (IPO) of Birla Pacific Medspa in mid-2011, including using the proceeds from the offer to manipulate the stock price.

The government on Friday spelt out the details of the waiver of interest on interest on loans up to Rs 2 crore where borrowers had taken moratorium during the lockdown and also made it clear that those who didn’t opt for it will get an ex gratia payment or a cashback.