BUSINESS
'India Inc should work with govt on its aspirational programmes'
The corporates should also look at bringing small and medium enterprise and migrant workers in the value chain, thereby generating employment, wealth creation and promoting growth needed by the country, NITI Aayog Vice Chairman Rajiv Kumar said.
FICCI President Uday Shankar snubs Amazon's claims
In a first, Uday Shankar has said Amazon's claims at a vital stakeholder-DPIIT meet Friday were false and need to be rescinded. Shankar, in a terse distancing from Amazon's claims, said the apex chamber expects zero-tolerance on creative interpretations of FDI norms.
Saradha case: ED quizzes Trinamool contestants Mitra, Gupta
Gupta, who is also contesting as a Trinamool Congress candidate from the Jorasanko assembly constituency in the West Bengal assembly polls, appeared before the agency at its Salt Lake office here. Gupta was questioned for more than three hours. Former Transport Minister Mitra also appeared before the agency.
Bank fraud case: CBI searches Indian Technometal Company premises
A CBI spokesperson here said that the agency teams carried out searches at the premises of the company and its directors, based in Himachal Pradesh's Kangra. The official said that the agency had registered a case against Technometal Company Limited and its directors and other unknown public servants and other persons on a complaint from Union Bank of India, erstwhile known as Corporation Bank.
Bharat Petroleum divestment makes headway, more steps needed: Fitch
Accordingly, BPCL has made headway on a key pre-condition to its divestment and other key milestones over the last six weeks, including the finalisation of terms to purchase Oman Oil Company's 36.6 per cent stake in its Bina refinery in February 2021. Besides, It also sold 5.8 per cent of its 7.3 per cent treasury shares and approved the sale of its 61.7 per cent stake in Numaligarh Refinery in March.
Spotify paid over $23B in royalties to rights holders
Rightsholders are distributors or record labels who then pay artists from the royalties they earn. Nearly 870 artists' catalogues on Spotify generated 1 million or more in royalties, reports The Verge. The company said that there are 1.2 million artists with over 1,000 listeners on the platform. Nearly 15 per cent, or 184,500, of their catalogues, generated recording and publishing royalties of at least 1,000, it added.
Sensex down: Covid resurgence dampens market
Accordingly, both the indices -- the 30-scrip Sensitive Index (Sensex) of the BSE and the broader 50-scrip Nifty at National Stock Exchange (NSE) -- had a gap down opening. Globally, Asian markets retreated as US Bond yields soared indicating an upcoming cycle of inflation. On the domestic front, indices have been in a correction phase on the back of various QIPs as well as IPOs taking away liquidity from the system.
Private consumption to pick up in next few quarters: Moody's
This will strengthen the domestic demand revival in 2021, it said in a research report. The report noted that domestic as well as external demand has been on the mend since the easing of restrictions leading to improved manufacturing output in recent months. "Overall, our baseline forecast is for real GDP to grow 12 per cent in yearly terms in 2021 following a 7.1 per cent contraction in 2020."
India Inc welcomes vehicle Scrappage Policy
Industry players, as well as sector specialists, said the move will enable faster growth for the industry and will be an environment-friendly move. In a statement, the Society of Indian Automobile Manufacturers (SIAM) said: "The benefits to the environment and safety of a sound system of removing unsafe or unfit vehicles from the road have been felt strongly by all stakeholders."
OYO turned around ops to pre-Covid levels: Founder Ritesh Agarwal
The year 2021 has brought good news for hospitality major Oyo Hotels & Homes with its operations turning around and registering pre-Covid levels of profits after a tough pandemic-affected 2020 that had one of the worst impacts on the industry.
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