BUSINESS
Centre, states need to think about reducing taxes on petrol, diesel: Govt tells Parliament
In reply to a question in the Lok Sabha, Union Minister of State for Finance Anurag Thakur said the Central government is ready to consider the idea of reducing tax on petrol and diesel, but all the states should also consider the matter.
Bank employees go on 2-day strike, cheques worth Rs 16,500 crore stuck
The Central government has decided to privatise two public sector banks in addition to IDBI Bank, and the United Forum of Bank Unions (UFBU) had given the strike call in protest. The leader of a major union claimed total success impacting the clearance of two crore cheques/instruments worth about Rs 16,500 crore.
India now has 4th largest forex reserves
India's foreign currency holdings fell by $4.3 billion to $580.3 billion as of March 5, the Reserve Bank of India said on Friday, edging out Russia's $580.1 billion pile. The world's largest forex reserves league table is headed by China, followed by Japan and Switzerland.
Axis Bank to acquire 9.9% stake in Max Bupa Health's promoter entity
A special purpose vehicle set up by True North Fund VI LLP, Fettle Tone LLP is currently a promoter of Max Bupa Health Insurance Company Ltd and holds 55.6 per cent of its total share capital. The transaction would include contribution of Rs 90.8 crore by Axis Bank Ltd, in cash, in the partnership capital of Fettle Tone LLP for acquiring 9.90 per cent of the aggregate partnership interest.
Govt plans to sell residual stake in four airports
The sale of Airport Authority of India's remaining stake in the four airports of Delhi, Mumbai, Bengaluru and Hyderabad, as well as identification of 13 more airports for privatisation, has been planned for the next fiscal.
Amazon ordered to shut facility in Canada as Covid surges
Peel Public Health has issued an order under the Ontario Health Protection and Promotion Act to Amazon Canada to require all individuals working at "8050 Heritage Road in Brampton to self-isolate for two weeks effective March 13, 2021."
Tesla investor sues Elon Musk over 'erratic' tweets
Musk's "erratic" actions have caused the company "substantial damage", including billions of dollars in lost market capitalisation, reports TechCrunch, citing the lawsuit. Tesla did not comment on the lawsuit. The lawsuit cited several tweets sent from Musk's account, including a tweet on May 1, 2020 which said: "Tesla stock is too high IMO." The tweet sent Tesla shares into a free fall -- nearly 12 per cent.
Sustained economic growth is key to India's future, says Amitabh Kant
"India has had the sharpest recovery among major economies during Covid. Size and scale need to be brought to manufacturing for India to penetrate global markets. 'Atmanirbhar Bharat' is not about protectionism but it is about penetrating global markets. There is a need to understand that sunrise sectors will lead India's growth in the coming decades and it is important we start now," he said.
Bitcoin crosses $60K mark for first time
With a sign of acceptance among the mainstream investors, the world's largest cryptocurrency Bitcoin surpassed a record high of $60,000 on Sunday. The cryptocurrency hit $60,197 at 12:34 GMT and continued to hover around $60,000, according to the website CoinMarketCap.
DGCA monitoring 737 Max performance, re-certification to take time
The approval for Boeing 737 Max operations in India may take some more time as the regulator is closely monitoring the aircraft's performance.
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