BUSINESS
SEBI amends norms for winding up of Mutual Fund schemes
Now, the trustees will have to give notice within one day, disclosing the circumstances leading to the winding up of the scheme to the regulator as well as two daily newspapers having pan-India circulation, a SEBI notification said. The move comes after the Supreme Court in July last year, in context of the winding-up of Franklin Templeton Mutual Fund's six debt schemes
'Time to look ahead, journey starts now': Tata Group Chairman tells AI staff
In a communication to the employees, Chandrasekaran said: "Now is the time to look ahead." The communication to Air India employees came on a day when Tata Group subsidiary, Talace Private Limited, formally took over the managerial control of the airline. "I, like many others, have enjoyed reflecting on stories from the airline's brilliant past. My first flight was with Air India in December 1986, and I will never forget how special it felt to be onboard, or the exhilaration as we soared into the sky," the letter read.
Indigo, SpiceJet shares decline on soaring global crude oil prices
Prices of Aviation Turbine Fuel (ATF) typically take cues from benchmark crude oil for price discovery. According to reports, earlier in the month, ATF price was hiked by Rs 2,039.63 per kilolitre, or 2.75 per cent, to Rs 76,062.04 per kilolitre in Delhi. Global crude oil prices are currently at around a seven-year high.
ED attaches property worth Rs 43.25cr in bank loan fraud case
A senior ED official said the agency has initiated money laundering investigation on the basis of the FIR registered by the CBI BS&FB, Bengaluru for causing a total loss of Rs 87 crore. An ED investigation revealed that the accused promoters availed various credit facilities from SBH and PNB Hyderabad, by submitting fabricated financial statements and invoices.
Electronic goods exports up by 49% on-year in April-Dec 2021
The top five export destinations in April-November 2021 are - USA (18 per cent), UAE (16.6 per cent), China (7.6 per cent), Netherlands (4.5 per cent) and Germany (4.2 per cent).
Meanwhile, the electronic goods exports in December 2021 touched $1.67 billion, registering a growth of 33.99 per cent, over $1.25 billion logged in December 2020. The overall electronic goods exports FY21 were $11.11 billion.
Air India comes with over 140 aircraft but no real estate assets for Tata Sons
However, the transaction does not include non-core assets, including land and building, valued at Rs 14,718 crore, which are to be transferred to government of India's Air India Asset Holding Limited (AIAHL). Besides, Tatas will also not get the world-famous art collection of Air India. Nevertheless, the group will get Air India's 117 wide-body and narrow body aircraft apart from 24 aircraft of Air India Express.
Real estate sector pins hope on Budget FY23 to sustain growth momentum
It's noteworthy that the government has also paid constant attention to the suggestions, advice and recommendations of the real estate sector and has made many changes in the rules and regulations accordingly. Due to these efforts, the real estate sector in the country has received a lot of impetus and has been able to come out of its slowdown days. However, some issues and key areas still remain, which need to be resolved soon.
L&T, Axis Bank, Tata Motors among 'top picks' ahead of Budget: ICICI Direct
It picked the engineering and construction entity as its top pick on the back of the company's strong order book and good revenue outlook. Larsen & Toubro (L&T) deals in EPC (engineering, procurement and construction) projects, hi-tech manufacturing and services. It primarily operates in infrastructure, heavy engineering, defence engineering, power, hydrocarbon, and services business segments.
Eye on Budget: Rise in old-age pension, re-engaging seniors among demands
The demands touch the sectors of income and social security, health and geriatric care, and creating an enabling environment for elders with recommendations such as provisions for setting up of skill training and retooling centres for the elderly people; providing GST exemption on services and products commonly used by the elderly, such as adult diapers, medicines and healthcare equipment like wheelchairs, walkers etc.
With Air India on-board Tatas emerge as major aviation players; plans to pilot synergies between airlines
It now has over 200 aircraft and over 80 domestic and international destinations. Notably, the group has two full-service carriers -- Vistara and Air India -- along with two low-cost airlines -- Air India Express and AirAsia India -- and a ground and cargo handling company, AISATS. According to sources, it plans to pilot synergies between all its airlines to compete in various market segments.
Don't Miss
Advertisement