Great Eastern Shipping Company Ltd fixed March 26 record date for determining holders eligible for an interim dividend to be paid on 10.5 per cent cumulative redeemable non-convertible preference shares of Rs 10 each.
The Tata group may have to deploy upwards of $1 billion to improve the airline's passenger reservation system, upgrade and refurbish Air India's fleet, primarily the wide-body aircraft which are the mainstay for the airline's international operations, people in the know said. While the group has not yet decided on how it intends to integrate Air India with its existing airlines AirAsia India and Vistara, sources said the first task will be to refinance Air India's existing loans, upgrade its aircraft gradually, and rewrite multiple business contracts with vendors and suppliers. "They will have to do 100 things to stabilise the airline and will have to put in a lot of money," DIPAM secretary Tuhin Kanta Pandey said, confirming that many aircraft are grounded.
Indian cricket board president Sourav Ganguly expects next year's Indian Premier League (IPL) to be played in the country after the COVID-19 pandemic forced them to stage the second half of this year's tournament in the United Arab Emirates.
Conformity assessment procedures will be put in place to verify that goods and services sold on e-commerce platforms meet required standards and technical regulations, according to the draft e-commerce policy. The policy, which is under discussion, also stated that actions and things which cannot be done by the online platform entities "can also not be done" by any of its associates and related parties. Government may, from time to time, notify parties which fall in the definition of associates and related parties, it said.
In his monthly Mann Ki Baat radio broadcast, Modi hailed the potential of India and said the basis of its strength is the country's farmers, artisans, weavers, engineers, small entrepreneurs, the MSME sector and people from many different professions."
Europe has an edge over the US in the tightly-fought contest to sell India a next-generation engine for the homegrown Tejas light combat aircraft (LCA).
But, VC of GE also expressed concerns about the slow progress in infrastructure development, calling for pro-investment regulations and right tariff regime.
General Electric's technology centre in Bangalore helps the company grapple with technology and costs. Here's the lowdown on this low-cost but cutting-edge facility.
At a meeting convened by Power Secretary VS Sampath later this evening with a team of officials from General Electric, the US-based company, which has supplied six gas turbines at Dabhol, has agreed to start negotiations on the Contractual Service Agreement of the project, according to official sources. The Dabhol power plant has three blocks with six gas turbines. However, only three turbines are functioning at present.
The Tejas Mark 1A outperforms the Sino-Pakistan JF-17 Thunder in avionics and weaponry, but the finance ministry's tax burden makes the Indian LCA costlier and hurts it in the export market.
The collapse of Jet Airways has everything to do with the falling number of wide-bodied aircraft.
Prime Minister Narendra Modi on Sunday called for the setting up of a high-power police technology mission under the leadership of the Union home minister to adopt future technologies for grassroot policing requirements.
For nearly seven years, Bhatia served in the first and second George W Bush Administrations, first in the department of commerce and then in the department of transportation, before finally enjoying a more than two-year stint as deputy US trade representative, the senior-most administration position ever served by an Indian American, before he resigned end October last year, to return to the private sector.
Foreign portfolio investors (FPIs) who invest from Mauritius into Indian companies that dole out bonus debentures will get impacted by the tax avoidance provisions on bonus stripping. The FY23 Budget has extended these provisions - applicable only to MFs, so far - to shares and units of REITs, InvITs and AIFs. The move will especially affect large institutional investors who sell original units within nine months after the record date because the loss arising from sale of original units would have to be ignored for the purposes of computing taxable income and cannot be set off against any other capital gain.
The facility would focus on equipment for the energy sector, besides aviation and health areas.
According to a senior government official, the plan is to do "collective bargaining" for certain medical devices and implants by assuring a bulk requirement to the manufacturers. "The requirement for these devices runs into millions. We assure them that the requirement is going to be in bulk. In return, they should offer us better rates," he said.
'Wherever in the world there is political instability, those countries are beset with severe crises today. But India is in a much better position than the rest of the world due to the decisions taken by my government in the national interest,' President Droupadi Murmu said in her address to both Houses of Parliament.
Chief of Defence Staff Gen Bipin Rawat, his wife Madhulika Rawat and 11 others were killed when an Indian Air Force helicopter carrying them crashed on Wednesday near Coonoor in Tamil Nadu in apparently foggy conditions, killing 13 people on board, the IAF and other officials said.
London hopes to convince New Delhi's naval planners to power India's second indigenous aircraft carrier with the Queen Elizabeth's integrated all-electric propulsion system.
Great Eastern Shipping Company Ltd decided not to pursue divestment programme of the government to divest Shipping Corporation of India Shares.
Scott Bayman cited Indian Airlines' and Air India's purchase of Airbus and Boeing aircraft, respectively, as prime examples of this growing transparency.
The development comes amid a growing clamour for the boycott of Chinese products in India, combined with the government's push for Aatmanirbhar Bharat.
Siemens Healthineers, one of the largest manufacturers of made-in-India CT scanners, has sold 80-100 such machines in the last 45 days. The medical technology firm typically sells 250 machines in a year.
Diversified conglomerate General Electric has posted a 47 per cent decline in profit for the second quarter at $2.67 billion, as the global financial turmoil took a severe toll on the firm's financial and other business.
Customers are conscious about prices but they don't want to compromise on quality, according to GE's main man John Flannery. Faisal Kidwai reports
"Now the gof India has decided to soon initiate procurement from local industries to reduce import dependence," he said. Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition.
The apex court has settled the long-pending dispute between companies such as Samsung, IBM, HP & others and the tax department.
The centre in Riyadh will be staffed by Saudi females and will start by catering to Saudi Aramco and GE as anchor clients.
N Chandrasekaran, managing director and chief executive officer of Tata Consultancy Services, has consistently said he wishes to take the company beyond mature economies such as America and Europe, into emerging markets.
PM also invited US-based GE and other global firms to invest in the defence sector.
In a recently published report the New York Daily News said that mega American companies like Microsoft Corp, General Electric and American Express are moving thousands of customer service call-centre jobs to India.\n\n\n\n
Ashish Narsale/Rediff.com brings you amazing gadgets and mobile devices from CES 2022.
A spokesperson attached to GE's Jack Welch Research Center in Bangalore said after the new people join, employee numbers in Bangalore would cross the 4,500-mark. GE's technology product research and development team is currently 3,800-people strong, with an additional 350 people employed in global research.
GE and Malaysia Airlines have said they are continuing their existing contracts with Satyam. In the newly constituted board's first meeting, Deepak Parekh had said two of Satyam's global clients have vouched for the firm but declined to give further details. Meanwhile, over half a dozen of Satyam Computer's rivals have started exploring ways to take over the business from its various clients, a global technology consultancy firm has said.
With a potential liability of Rs 750-800 crore, sources say Clix Capital's stand on the matter would be crucial in finalising the merger valuation.
The department found various expatriates were acting as business heads for Indian operations and certain employees were actively involved in concluding sales for the foreign entities of GE in India.
'Prime Minister Modi has initiated a host of reforms in the right direction, and I would like to see that continuing.'
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