Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
With Tamil Nadu witnessing a sharp increase in the covid-19 cases, the government on Saturday announced clamping a two-week 'total lockdown' across the state to curb the spread of the pandemic.
83% of the CEOS plan to hire more in the new year.
The Bengaluru-based firm's revenue grew 17.3 per cent to Rs 20,609 crore in the quarter under review as compared to Rs 17,567 crore in the same period of 2017-18
The PwC survey found more than 50 per cent respondents reporting lack of adequate skill sets
Slack management allowed a "culturally toxic" environment to develop in Australia's swimming team at the London Olympics with abuse of alcohol and prescription drugs as well as flouting of curfews and bullying going unchecked, a review said on Tuesday.
'In India, the impact will be less than 1% of employee headcount.'
Restricted by state government orders, the ownership of such land could not be formally registered, so the advances made continued to be reflected in the accounts as 'advances against land'.
The government has merged the Department of Public Enterprises (DPE) with the finance ministry to give it a better control over state-owned firms and facilitate its ambitious privatisation programme. Finance ministry will now have six departments while DPE's hereto parent ministry, the ministry of heavy industries and public enterprises will now be called the ministry of heavy industries. Previously, the disinvestment ministry - created under the Atal Bihari Vajpayee government - was merged with the finance ministry and is now a department under it. Also, Foreign Investment Promotion Board (FIPB) was abolished and administration of foreign investments was given to the finance ministry (FinMin).
The fund industry may have embraced machines and robots, but managing money still needs the human touch
Chief Minister Basavaraj Bommai held a meeting with experts, and senior ministers and officials of his government to assess the COVID-19 situation in the state and curbs that were put in place to control its spread.
When you are working with a friend or spouse, there's every possibility of your business and personal relationship getting adversely impacted if something goes wrong between two partners, warns Archana Khosla.
NBFCs with a proven track record, supported by the brand values of reputed corporate, can play a key role in bringing the benefits of banking and economy to the underserved and newer segments of India.
The Reserve Bank of India on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance as the economy faces heat of the second Covid wave.
Look carefully at any ad or pop up that tempts or attracts you with freebies and offers etc. It could be a scam, warns Niranjankumar Upadhye.
Addressing a virtual Downing Street press conference, Boris Johnson acknowledged the divided views on lifting all lockdown restrictions to declare that his update does not imply that the pandemic "is over".
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
Pierre-Emerick Aubameyang scored his first three goals for Barcelona in a 4-1 win at Valencia, but Inter Milan suffered a shock 2-0 home defeat by Sassuolo. Images from the football matches played on Sunday.
The company said the new policy will be rolled out but the platform will allow users to read it at "their own pace".
A greater payment security mechanism for power generation companies to ensure timely payouts for supply of electricity will be in focus in 2022 as stricter rules are on the anvil for 24x7 power supply amid discoms' outstanding dues at a whopping Rs 1.56 lakh crore. Mounting outstanding dues of distribution companies (discoms) to electricity generation companies (gencos) have been a perennial issue affecting the entire value chain in the power sector and are also a hindrance for the ambitious goal of 24x7 power supply across the country even when the payment for coal is made in advance. The situation persists despite the fact that discoms' dues become overdue after 45 days of generating bills and they also have to pay penal interest on the overdue amount in most of the cases to gencos.
Jaane Bhi Do Yaaro is one of the best and most uncompromised films of Indian cinema, says Sukanya Verma.
'What matters to me is that the film is reaching out and touching hearts.' 'An 85-year old man and his 75-year wife, who had never stepped into a cinema, went to see The Kashmir Files.' 'That is my real achievement.'
The Adhyayan Quality Standard engages schools in self-review to improve education standards, says Anjuli Bhargava.
'If enough people defy the law and insist on flouting fundamental rights guaranteed by the Constitution in the name of religion and custom, does that endow a bigoted, unjust demand with merit?', asks Shuma Raha.
India's biggest firm, Reliance Industries, has decided to cut salaries by 10 per cent in its oil and refining divisions. Several smaller companies like Kajaria Ceramics have followed suit with cuts as high as 40 per cent for those earning more than Rs 50 lakh.
Zopper, a price comparison site, with 2,000 online and 200,000 offline merchants on board, aims to increase user activity 100 times in 3 years.
A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of $1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute. The New York district court delayed the tax suit to November 18, according to court documents reviewed by PTI. This follows Cairn Energy and Air India jointly asking the court to stay further proceedings in view of the fresh government enacting a fresh law to scrap retrospective taxation in the country.
The Pune-based vaccine major has entered into a collaboration with the University of Oxford and AstraZeneca to manufacture the vaccine.
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
A round-up of Wednesday's action in the UEFA Champions League.
The disruption by Opposition members drew sharp criticism from Prime Minister Modi who accused them of being unable to digest the fact that a large number of new ministers are women, Dalits, tribals and those from other backward classes
Barring stray references such as the 'dual control' of banks and shifting the goalposts during demonetisation, he is not in a fault-finding mode with the government, notes Tamal Bandyopadhyay.
The hits and misses of the week.
The Nikkei India Services Purchasing Managers' Index (PMI), which tracks services sector firms on a monthly basis, stood at 48.7 in January, as against 46.8 in December 2016.
Fiscal deficit has a bearing on sovereign rating of the country as well as the debt market.
Available data obscures the true stress in bank books, and the pandemic will result in balance sheet impairments and capital shortfalls at lenders, RBI Governor Shaktikanta Das said on Monday. Balance sheet impairment and capital shortfalls will be more evident once the regulatory reliefs are rolled back, Das said in the bi-annual Financial Stability Report, asking lenders to augment capital.
All transfers and promotions for next financial year will be decided by respective banks, not by the merged entity.
First, the Insolvency and Bankruptcy Code, much-lauded as a game changer, needs serious reform. Second, some vital policy choices would need to be made as far as competition law is concerned., says Somasekhar Sundaresan.
'Let's get a woman to be the antagonist, who really throws me around and hammers the s**t out of me. That would be fun.'
Analysts feel Fortis Healthcare share holders are at a disadvantage and deal valuations had been short of expectations
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