BUSINESS
Amazon India announces Small Business Days starting July 2
The three-day online sale will continue until 11:59 p.m. on July 4. The sales event helps generate demand for the differentiated selection of products offered by lakhs of sellers, manufacturers, startups and brands, women entrepreneurs, artisans and weavers, and local shops, said a company statement.
'Probe in yarn prices will prevent supply chain imbalance'
AEPC Chairman A. Sakthivel said: "We are happy to note that the Textile Commissioner's office has been advised to find evidence of cartelisation which is resulting in these spikes and hurting the overall interest of the industry. With thee ministry's support, such a study can set precedents for a data driven management of the supply chain imbalances."
Adani group company to run upcoming Navi Mumbai International Airport
The state cabinet presided over by Chief Minister Uddhav Thackeray gave its green signal to AAHL as the new concessionaire to the prestigious greenfield airport coming up as a public-private partnership (PPP) project. Earlier, the airport was to be developed by GVK which was running the Mumbai International Airport Ltd (MIAL).
India attracts 38% higher FDI in April at $6.24 bn
In April last year, total FDI inflows stood at $ 4.53 billion. Though lower base of last year has helped push up FDI growth this year, in overall terms, the numbers reflect return to the pre-pandemic levels of overseas investment in India. According to government data, in April this year, FDI equity inflows amounting to $4.44 billion were reported in the country, which is also an increase of 60 per cent over the FDI equity inflows of April 2020.
Heineken now has controlling stake in Kingfisher-maker United Breweries
The shares were sold by the Debt Recovery Tribunal on Wednesday, on behalf of an SBI-led consortium for around Rs 5,800 crore. "Heineken N.V. today announces that it has acquired an additional 39,644,946 ordinary shares in United Breweries Ltd (UBL) taking its shareholding in UBL from 46.5 per cent to 61.5 per cent," Heineken said in a statement.
People saving less, household savings moderate in Q3 FY21
According to Preliminary Estimates of Household Financial Savings released by Reserve Bank of India (RBI), household financial savings is placed at 8.2 per cent of GDP in Q3 of 2020-21. This is a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit first quarter of 2020-21.
Nirav Modi loses first stage of extradition appeal in UK court
An official of the high court confirmed that the permission to appeal was "rejected on paper" on Tuesday. The latest rejection leaves Nirav Modi with one chance to make his case at a brief oral hearing in the high court with a renewed "leave to appeal" application for a judge to determine if it can proceed to a full appeal hearing.
PSBs to get Rs 9k cr from assets of economic offenders, FM assures cases being actively pursued
Taking to Twitter, Union Finance Minister Nirmala Sitharaman on Wednesday said that fugitives and economic offenders will be actively pursued and dues would be recovered by attaching their properties. "Fugitives & economic offenders will be actively pursued; their properties attached & dues recovered. #PSBs have already recovered Rs 1357 Cr by selling such shares. A total of Rs 9041.5 Cr shall be realised by banks through sale of such attached assets," she said.
Cabinet nod to pact with Caribbean nation to fight offshore tax evasion
Under the pact, both the countries will exchange information and assistance in respect of collection of taxes. An official statement said this is a new agreement between the Republic of India and Saint Vincent and The Grenadines and there was no such agreement in the past between the two countries.
People saving less, household savings moderate in Q3 FY21
According to Preliminary Estimates of Household Financial Savings released by Reserve Bank of India (RBI), household financial savings is placed at 8.2 per cent of GDP in Q3 of 2020-21. This is a sequential moderation for the second consecutive quarter after having spiked in the pandemic-hit first quarter of 2020-21.
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