BUSINESS
RBI to conduct OMOs worth Rs 10K cr on May 6
The OMO session will see simultaneous purchase and sale of government securities worth Rs 10,000 crore. Under this OMO, the RBI will sell short-term securities worth Rs 10,000 crore maturing in the current band next year and purchase long-term securities of an equal amount maturing between 2026 and 2030.
Ageas Federal Life earns Rs 1,959 cr premium in FY21
According to the insurer, formerly IDBI Federal Life Insurance Company Ltd, despite the Covid-19 challenges, the total premium rose by six per cent to Rs 1,959 crore in 2020-21 from Rs 1,843 crore in 2019-20. The growth was driven by a 24 per cent rise in individual new business premium to Rs 504 crore and four per cent rise in renewal premium to Rs 1,327 crore.
LG delivers record Q1 earnings on robust home appliance biz
Its operating profit spiked 39.1 percent to 1.51 trillion won in the first three months of 2021, while sales jumped 27.7 percent on-year to 18.8 trillion won over the cited period. Both sales and operating profit were record highs in the company's history, beating revenue of 18.78 trillion won in the fourth quarter of 2020 and operating income of 1.24 trillion won in the second quarter of 2009.
'Post Covid world looks promising for India's food processing industry'
According to the report, the optimism for the industry emanates from projection of exponential growth in demand for processed food in rural areas and countries Tier 2/3 cities. Moreover, a lot of untapped potential remains to enhance India's export to the top 10 food importing countries of the world where the country at present has a limited presence.
India's consumer demand for gold to weaken in Apr-Jun: WGC
"The outlook for the coming quarter is cautious. As lockdowns are re-imposed in various regions of the country in response to rising COVID-19 cases, consumer confidence has dipped. This is likely to impact wedding demand in Q2 2021," it said.
Airtel Africa names Olusegun Ogunsanya as next MD & CEO
Airtel Africa plc has announced Olusegun Ogunsanya as its next MD and CEO. Ogunsanya who is currently the Managing Director and CEO of the company's Nigeria operations will succeed Raghunath Mandava, as the next MD and CEO of Airtel Africa with effect from October 1, 2021.
Most Indian corporates have protection against weakening rupee: Moody's
"These include natural hedges, where companies generate revenue in US dollars or have contracts priced in US dollars; some US dollar revenue and financial hedges; or a combination of these factors to help limit the strain on cash flow and leverage, even under a more severe deprecation scenario."
Byju's to raise $150M from UBS, to be valued at $16.5B
UBS Group AG, part of UBS Asset Management, will invest a total of around $300 million in Byju's, people familiar with the deal told IANS. The leading ed-tech company recently raised nearly $1 billion as part of its 'Series F' funding that included Baron Funds and Facebook co-founder Eduardo Saverin's B Capital Group.
Goldman Sachs commits $10mn to support India's fight against Covid
"Since the onset of the pandemic, our firm has been focused on how we can help communities around the world, including those where we live and work," said David M. Solomon, Chairman and Chief Executive Officer. "India is home to three Goldman Sachs offices and we have a responsibility to respond and provide our firm's support and assistance."
CCI nod for Tata Digital's acquisition of Big Basket
The proposed combination involves acquisition by Tata Digital Limited (TDL) of up to 64.3 per cent of the total share capital of SGS (on a fully diluted basis) through a combination of primary and secondary acquisitions, in one or more series of steps.
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