Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
'It is sad that Kerala had so many Covid patients which is primarily due to the mismanagement of the Left government.' 'The technical committee was full of CPI-M leaders who happen to have medical degrees with no experience in public health.' 'They were advising the CM and we are paying for those mistakes.'
Today, Vachani's public-listed company, Dixon Technologies, has gone beyond manufacturing just television sets. Armed with private equity funding from Motilal Oswal eight years ago, it has transformed itself into a Rs 4,400 crore electronic manufacturing services major, which now straddles lighting products, home appliances, feature phones, LED bulbs, amongst others. A two-part series looks at how two home-grown manufacturers are leveraging the govt's production-linked incentive scheme.
National auditor says a significant part of NPAs was due to fraud and may never be recovered
Firms to find alternative export routes or face increased trade barriers
Banks cannot shirk their responsibility in cases of frauds.
'The cost of funds has come down, which will lower lending rates'.
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
With over 135 news channels, about a third owned by politicians and real estate guys, the news TV market is a nightmare, says Vanita Kohli-Khandekar.
The need for larger investment in infrastructure that is the biggest shortcoming, says A V Rajwade.
Nifty, which has struggled around 8550-8560 levels managed to blast past this resistance and close above the psychological mark of 8600.
'Given the emerging trends, it may be time for India to embrace digital banking,' notes Pradipta Bagchi.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
External Affairs Ministry Spokesperson Vikas Swarup, credited with expanding foreign ministry's social media outreach and handling sensitive issues deftly, was on Thursday appointed India's High Commissioner to Canada.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
The world's growing demand for energy is also a big problem.
'Political elites need to feel that these are our children dying, that this is a crisis for us, a tragedy for our community, we must take immediate action to save the lives of our people.'
Jaitley evaded vital questions on this issue.
To attract capital into infrastructure projects, the ratings system needs a fresh look.
Prior public consultations when making regulations is a critical feature
The optimism in global markets could help India as the rebound in GDP is expected to continue and get more broad-based.
Most adult Indians should have access to bank deposits, credit and remittance facilities as well as insurance and mutual fund products in the next decade, and technology will play a big role in this transformation, says Tamal Bandyopadhyay.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
If indeed the gate opens for big industrial houses, the RBI needs to be smarter than them and demonstrate it through action, not reaction, observes Tamal Bandyopadhyay.
By 2020, we should have some 10 listed sports companies, with one or two big enough to be on the Sensex
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
The country's new economic roadmap highlights the importance of creating a virtuous cycle of investment, savings and exports in order to sustain rapid economic growth over the next five years.
The second-longest serving chairman introduced quite a few measures for the primary market and implemented a new corporate governance framework.
Ajit Balakrishnan on mapping the Business Serengeti.
'Businessmen like Rajiv render public service when they speak truth to power,' observes Virendra Kapoor.
'Rolling out the vaccine is not a major challenge in India.'
Interacting with state chief ministers, Modi underscored the enormity of what he described as the world's biggest vaccination exercise, which begins from January 16, saying over 30 crore citizens will get the jabs in the next few months in India against only 2.5 crore people vaccinated so far in over 50 countries in around a month.
The Indian State does not believe in the rule of law. It does not even recognise the need to follow treaties that it itself signed. And so it is refusing to shell out to Cairn; and, as a consequence, has brought on the Paris humiliation, notes Mihir S Sharma.
Benchmark indices finished higher on hopes of economic reforms
While India has to curtail its side, those who do business in India have to be more conscious that they should be less part of the problems and more part of the solution, the business magnate said.
'The roadmap ahead seems very difficult especially in the rural areas where there is very poor infrastructure, vaccine reach and hesitancy.' 'These are a deadly cocktail for the next wave.'
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