BUSINESS
CVC directs mandatory cooling off period for staff before joining pvt sector post retirement
In a letter to the secretaries of all ministries, CEOs of PSUs, banks and insurance companies, the CVC said that the applicable service or conduct rules should be amended to ensure that if required, appropriate action can also be initiated in case of violation of these rules by retired employees.
DoT invites applications for telecom equipment PLI from June 4
As per the government, the scheme envisages creating global champions out of India who has the potential to grow in size and scale using cutting edge technology and thereby, penetrate the global value chains. Telecom products play an important role in the larger vision of "Digital India", said an official statement.
SEBI raise overseas investment limit for MFs to $1 bn
The Securities and Exchange Board of India (SEBI) on Thursday raised the investment limit to $1 billion per mutual fund. In a circular, the capital market regulator said that the decision has been taken post representations from the mutual fund industry. The SEBI also decided that "mutual funds can make investments in overseas Exchange Traded Fund (ETF) subject to a maximum of $300 million per mutual fund.
Global cues, buying interest buoy equities; Realty stocks rise
Globally, stocks clung close to record highs as investors weighed inflation concerns ahead of key monthly US jobs report scheduled for release on Friday, while oil prices rose for a third straight session. However, European stock markets opened in the red after reports emerged that the UK is considering to delay the final stage of reopening by two weeks if hospitalizations and deaths increase.
Ocugen gets Covaxin commercialisation rights for Canada too
Ocugen and Hyderabad-based Bharat Biotech on Thursday announced that they have entered into an amendment to their co-development, supply, and commercialisation agreement to expand Ocugen's exclusive territory to commercialise Covaxin to now also include Canada, in addition to the US. As consideration for Bharat Biotech's grant of the rights to commercialise Covaxin in Canada.
NITI Aayog submits privatisation list, Bank of Maha, Central Bank top candidates
Sources said that the Department of Investment and Public Asset Management (DIPAM), and the Department of Financial Services (DFS) will examine the names suggested by NITI Aayog and finalise the list of possible candidates in the financial sector for privatisation this year. People in the know also said that Bank of Maharashtra and Central Bank are the top two candidates that has been favoured for privatisation
realme to bring 5G phones to 100M young consumers in 3 years
At its inaugural 5G summit with GSMA, Counterpoint Research and Qualcomm, realme said that new models in GT series, realme 5G performance and camera flagships will be launched in June and July, among several other corporate initiatives to promote 5G adoption globally. "We will work hard to help popularise 5G by listening more to consumers' needs, pushing forward product innovation, and helping to build the broader 5G ecosystem said Real Me India.
RIL may go big in its new energy business amid climate concerns
In his statement to the shareholders of the company in its annual report for FY20-21, Reliance Industries Chairman & Managing Director (CMD) Mukesh Ambani noted Reliance has set itself a target to become net carbon zero by 2035.
Sensex, Nifty settle at record closing highs
Decline in the daily cases of Covid-19 and strengthening of the Indian rupee supported the market sentiments. Sensex closed 52,232.43, higher by 382.95 points or 0.74 per cent from its previous close of 51,849.48. It had opened at 52,121.58 and touched an intra-day high of 52,273.23 and a low of 51,942.20 points.
True wireless sales up by 44% in Q1, Apple leads
According to research firm Counterpoint Research's latest Global Hearables (TWS) Market Report, Apple dominated the over-$100 segment with 57 per cent share, followed by Samsung at 17 per cent. "In highly competitive markets like Asia and Europe, Samsung achieved a double-digit share with good performance of all the models," Liz Lee, Senior Analyst, Counterpoint Research, said in a statement.
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