BUSINESS
India to get dedicated infra lender, Union Cabinet clears proposal
To give a push to infrastructure creation a Development Financial Institution (DFI) will be set up accordingly. The DFI is expected to give a massive lending push worth around Rs 3 lakh crore in the next few years. The DFI was proposed in the Union Budget 2021-22 by Finance Minister Nirmala Sitharaman.
Steelmakers to slash Rs 35K cr debt through this and next fiscals
Domestic demand recovered strongly in the second half of this fiscal, growing 10 per cent between October and January versus a 30% on-year fall in the first half. Consequently, demand contraction will be less than 10 per cent for the whole of this fiscal, Crisil said.
Hackers hit 32 Indian firms via Microsoft email servers
The country most attacked was the US (21 per cent of all exploit attempts), followed by The Netherlands (12 per cent) and Turkey (12 per cent), along with India. Most targeted industry sector has been government/military (27 per cent of all exploit attempts), followed by manufacturing (22 per cent), and then software vendors (9 per cent), the researchers noted.
Adani Ports bolsters global footprint with Colombo container terminal
The company has received a Letter of Intent from Sri Lanka's Ministry of Ports and Shipping and the Sri Lanka Ports Authority (SLPA) for setting up the container terminal on a Build, Operate and Transfer basis for a period of 35 years on a public-private partnership basis.
Rebound: India's merchandise exports, imports rise in Feb
The country's merchandise exports during the month under review rose to $27.93 billion from $27.45 billion in January and $27.74 billion in February 2020. In terms of imports, India's inbound shipments in February 2021 increased by 6.96 per cent to $40.54 billion from $37.90 billion during the corresponding period of 2020.
Inflationary risk: India's WPI rises to 27-month high in Feb
"The rate of inflation, based on monthly WPI, stood at (4.17 per cent) (provisional) for the month of February, 2021 (over February, 2020, as compared to 2.26 per cent) during the corresponding month of the previous year," a Ministry of Commerce and Industry statement on WPI said.
Elon Musk is now 'Technoking' of Tesla, new filing shows
Zach Kirkhorn will maintain his position of chief financial officer, but his official title has changed to "Master of Coin," also effective March 15, reports marketwatch.com. Jerome Guillen, president of automotive, has transitioned to the role of President, Tesla Heavy Trucking.
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.
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