BUSINESS
Petrol, diesel price hike continues unabated
In the national capital, petrol price rose 30 paise per litre and diesel was hiked by 35 paise per litre. The prices of petrol and diesel have crossed the Rs 100 per litre mark in many states, pinching the common man's pocket. In Delhi, petrol is now retailing at Rs 104.44 per litre and diesel is available at Rs 93.17 per litre after the latest price revision.
Union Bank shocker: Staff asked to follow 'Navratri' dress code or pay fine!
The detailed order came vide a colourful circular issued on October 1 by the Digitisation Department, at the Central Office in Mumbai, signed by General Manager, A. R. Raghavendra. Following an uproar on social media, the UBI management has reportedly yanked off the circular, it emerged late on Sunday night.
US Treasury Secy hopes Congress will approve global corporate tax deal
"I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package," Xinhua news agency quoted Yellen as saying on ABC News on Sunday, referring to a spending package being negotiated by the White House and Democratic lawmakers.
Taliban transfer to Finance Ministry $18 mn seized from previous regime
Da Afghanistan Bank, in a statement, said that the cash was seized from officials of the previous government in Kabul, Panjshir, Khost, and Logar provinces. In the meantime, the statement adds that a relatively large amount of gold has also been seized that is now kept in the central bank. Earlier, the Taliban confirmed confiscating more than $6.5 million and 18 gold bricks from the house of former Vice President Amrullah Saleh and handed them over to the Da Afghanistan Bank, Pajhwok News reported.
Millions of Pakistan rupees brought into Kandahar to exchange into US dollars
They said that "millions of Pakistani rupees" are brought in to Kandahar from Pakistan and are exchanged to US dollars and are taken back to the neighbouring country, the report said. The money changers said the demand for the US dollar is increasing in the market and that most of their customers buy the US currency by selling Pakistani rupees. "Some Pakistani investors buy the US dollars from markets and in exchange they inject Pakistani rupees into the markets," said Haji Babai, a money changer, the report said.
China auto maker denies buying chips at 800 times the normal price
In a statement sent to the Global Times on Sunday, Li Auto said it has ramped up efforts to ensure chip supply to help resolve the current crunch and it is normal practice to source from regular channels. The statement followed a report by a Chinese news outlet claiming that Li Auto, facing a crisis caused by the lack of auto semiconductors that has led to serious delivery delays, has recently purchased thousands of chipsets crucial for electronic parking brake system with each chipset priced at 5,000 yuan ($776), far above the market's normal price of only 6 yuan.
Reliance New Energy Solar to acquire 40% stake in Sterling & Wilson Solar
The transactions involve preferential allotment of 2.93 crore equity shares (equivalent to 15.46 per cent post preferential share capital) at a price of Rs 375 per share. The transaction will also involve acquisition of 1.84 crore equity shares by RNESL from SPCPL (equivalent to 9.70 per cent post preferential share capital) at a price of Rs 375 per share.
Reliance New Energy Solar acquires REC Solar Holdings for $771 mn
REC's Alpha and Alpha Pure range of solar modules are recognized as among industry leaders in efficiency, reliability and long guaranteed life. The heterojunction (HJT) technology used by REC helps its modules surpass the performance of other commonly used technologies in the industry.
Over dozen PSUs on the block after Air India privatisation
Sources said the successful culmination of the Air India disinvestment process has upped investor interest in picking up management control of public sector undertakings put on the block for privatisation. Overseas investors are also looking at the country's disinvestment plan with interest.
Luxury hotels, resorts lead industry's faster-than-expected recovery post Covid 2.0
An ICRA report has pointed out that the recovery was hastened by the easing of restrictions in Q2 FY2022. The ratings agency, though, did not change its negative outlook on the industry because it remains to be seen if the demand pickup can be sustained. A potential third wave and its impact on travel and hotel occupancies cannot be ruled out, according to the report.
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