BUSINESS
Oil prices surge as OPEC+ extends most output cuts
OPEC+ approved the continuation of current production levels for April, except that Russia and Kazakhstan will be allowed to increase production by 130,000 and 20,000 barrels per day, respectively, the group said in a statement on Thursday.
Wipro to buy UK firm Capco for $1.45 billion
Global software major Wipro said on Thursday that it has signed an agreement to acquire the UK-based management and technology firm Capco for $1.45 billion (Rs 10,551 crore) to provide digital, Cloud and IT services to financial institutions in the US, Europe and Asia-Pacific.
ArcelorMittal commits Rs 50K cr investment in Odisha
The existing MoU in Odisha, which was signed in the presence of Chief Minister Naveen Patnaik and steel tycoon Lakshmi N. Mittal in Bhubaneshwar, has given a leg up to the bullish plan of the company to have both greenfield and brownfield steel operations in India.
PSBs' bad loan formation to moderate going forward: Morgan Stanley
"Over the past few years, SOE banks have seen significant capital infusion by the government, lower RWA (risk-weighted assets) density, higher provisioning and some large recoveries. GNPL coverage ratio for SOE banks (excluding SBI) under our coverage has improved to 67 per cent and is 55 per cent on overall impaired loans," it said.
Noida gets Addverb's Rs 75 cr robot-making facility
The facility called "Bot Valley" has a capacity to manufacture more than 50,000 robots of varied types in a year, and is equipped with best-in-class electronics and mechanical machines, the company said in a statement on Thursday.
ED probes Franklin Templeton, its officials for money laundering
We have registered a case of money laundering against Franklin Templeton and its senior officials, a senior ED official said. He added that the agency registered the case on the basis of an FIR lodged by the Economic Offences Wing (EOW) of the Chennai Police.
Market in red, Sensex falls nearly 800 points
Heavy selling was witnessed in metal, banking and finance stocks. The top losers on the Sensex so far were Tata Steel, HDFC and HDFC Bank, whereas the only gainers were ONGC, Infosys and Sun Pharmaceutical Industries.
Electronic goods exports soar to Rs 8,806 cr in Dec 2020
In a statement, the India Cellular and Electronics Association (ICEA) said that the electronics industry is overcoming the unprecedented challenges of COVID and is on a path of regaining its momentum. Mobile phone is the highest contributor in the segment comprising of 35 per cent of the value with an export value of Rs 3,061 crore which is 50 per cent higher than December 2019.
Canada's economy worst on record since 1961
In a statement on Tuesday, Statistics Canada said the country's worst economic output was due to the first wave of the Covid-19 pandemic which shut down businesses and caused millions of people out of work in March and April of 2020.
Airtel acquires 355.45 MHz spectrum for Rs 18,699 cr
A company statement said the the acquisition give Airtel the most formidable spectrum holdings in the country. In addition, this spectrum will also help improve its coverage in villages by offering the superior Airtel experience to an additional 90 million customers in India, it added.
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