Subhash Shankar Parab, a key accused in the Rs 7,000 crore diamantaire Nirav Modi bank fraud case, was "deported" from Cairo on Tuesday after a long diplomatic and legal process, officials said in New Delhi. A CBI team had gone to Egypt's capital to bring back 50-year-old Parab, who was allegedly kept in illegal confinement in a Cairo suburb by Modi, the fugitive diamantaire, they said. The CBI had been chasing Parab, deputy general manager (finance) in Modi's Firestar Diamond and understood to be a key witness to the Letters of Undertaking (LoU) submitted to the Punjab National Bank (PNB) to siphon off over Rs 7,000 crore, they said.
Will MBA hybrid model be the focus for B-schools? Should B-schools focus on long distance programmes?
But the IPL management and the Indian cricket board are optimistic.
Airports hold pride of place in the government's National Monetisation Pipeline (NMP) programme to monetise public assets. Private airport operators, including the Adani group, Fairfax, GMR and Zurich Airport, are expected to evince interest in the next round of public private partnership (PPP) development of state-owned Airport Authority of India (AAI) airports. Industry analysts, however, do not expect bids to be as high as the last round, which saw Adani group gain control of six airports.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
IIM-A will be offering six programmes that are blended or a mix of online and offline.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
The pilot-turned-airline owner and his partner Biraja Jena plan to launch FlyBig, which has secured 16 routes under the fourth phase of UDAN, the government's regional connectivity programme.
The government will undertake a detailed evaluation of applications it has received in response to the mega semiconductor scheme and expects to complete the entire process and sign agreements with companies in next 8-10 months, according to Union Minister for Electronics and IT Ashwini Vaishnaw. Vaishnaw said he is happy with the response that came in within a short period of time, when the ministry invited applications under the Rs 76,000 crore semiconductor programme. The government is confident of seeing one of the big global players in semiconductor industry coming in the next round, Vaishnaw told PTI in an interview. He asserted that many other players too are "seriously evaluating" India's semiconductor programme, and that the ministry is in discussions with several companies.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
With better utilisation of slots, foreign flying rights, and greater international connections, the operator of India's largest airport feels a privatised Air India will bring commercial benefit to Delhi airport and help it revive quicker from the pandemic shock. Delhi is the largest hub for Air India, with most of its long-haul flights to the US and Europe being operated from here. The airport plans to give its most modern terminal 3 (T3) exclusively to the Tata Group.
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
The SJB has begun to collect signatures from MPs for the no-confidence motion, according to media reports.
Organisers said last December that the entire cost of holding the Games would come to about $15.4 billion, including $2.8 billion in costs for the unprecedented postponement from 2020. Since then, the projected bill for postponement has risen to $3 billion.
Key stimuli of the government's relief package will be a tax break on jet fuel, waiver of parking and landing charges at airports for the next six months and deferment of payment to oil companies by three months.
The highest domestic package, however, fell 10 per cent
If Sebi and RBI remain quiet about this brazenly illegal activity, will someone in the finance ministry or the NITI Aayog take a closer look, asks Debashis Basu.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'Ghost-like stands repel rather than attract audiences,' observes Ashis Ray.
The power minister briefed the investors on various steps undertaken by the government.
Here are some areas where costs have grown, and where income that had been expected will not materialise.
'COVID-19 will not stop the expansion of China's 'infrastructure power'.'
India's electric mobility goal, which has so far been riding on two wheels, is all set to graduate to four wheels. At least, the journey has begun. Hyundai Motor India said it would invest Rs 4,000 crore till 2028 to launch half-a-dozen electric vehicles (EVs) in India. It would eventually straddle premium and mass segments. The first of these - the electrified version of an internal combustion engine (ICE)-powered model - will go on sale as early as next year.
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
Olympic Association is yet to get an official confirmation about shooting being scrapped from the programme of 2022 Commonwealth Games but said it will ask the organisers to reconsider its decision.
The focus shall also be on consolidation of public debt and reducing rollover risk through active switch/buyback operations.
Women's cricket, soccer, Australian Rules, rugby league and rugby union competitions have gained traction in Australia and New Zealand but many organisations have been quick to pull funding and end seasons for women's sport during the pandemic.
Like their international peers, Indian CEOs too have a significant portion of their incomes coming from stock options and performance-linked bonuses
IndiGo is facing acute shortage of commanders amid aggressive expansion of its fleet. The carrier has more than 210 planes in its fleet.
Infosys President B G Srinivas will join Hong Kong-based diversified group PCCW as Group Managing Director in July, after ending his 15-year old stint with India's second largest IT services firm.
The South African Cricketers' Association (SACA) on Tuesday described the curtailed India-South Africa series as a sad day for the sport and said cricket in the country would be at an overall loss due to this decision.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
Jeff Bezos, chief executive officer of Amazon, has committed to invest $5.5 billion into India and that figure is approaching quickly.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
A summary of sports events and persons who made news on Monday.
IIM-A saw 36 per cent jump in maximum domestic salary in 2018 placements this year.
The one-size-fits-all approach adopted by the AICTE is not suitable for regulating business schools in India, argues Asish K Bhattacharyya.
Deloitte's recruitment process will involve a resume screening, a telephonic interview, and a face-to-face interview if you apply online, says Sarvesh Agrawal.
While media reports suggested that Tata-Singapore Airlines is looking at an all-stock merger of Jet, Tatas, in a statement said, discussions to take over Jet Airways have been preliminary and no proposal has been made
For international travel, frequent flyers look at network and Air India's global network is weak.
