BUSINESS
Rs 1.06L Cr GST compensation shortfall released to states
Till now, 96 per cent of the total estimated GST compensation shortfall has been released to the states and UTs with Legislative Assemblies. Out of this, an amount of Rs 97,242.03 crore has been released to the states and an amount of Rs 8,861.97 crore has been released to the 3 UTs with Legislative Assemblies.
Over 1,100 firms ordered for liquidation till Dec 2020
Citing data from the Insolvency and Bankruptcy Board of India (IBBI), the Minister of State for Corporate Affairs, Anurag Thakur told the Lok Sabha that a total of 1,126 companies have been ordered for liquidation as of December 31, 2020.
Indian renewables' credit quality intact: Moody's
Although Indian renewable energy companies failed to meet generation targets in fiscal years 2019 and 2020 that ended in March 2019 and March 2020 respectively, they will be able to withstand the impact of this underperformance thanks to large and diversified portfolios, according to a report by Moody's Investors Service.
Unilever to remove 'normal' from its beauty, personal care brands
In addition to removing the word "normal", Unilever will not digitally alter a person's body shape, size, proportion or skin colour in its brand advertising, and will increase the number of advertisements portraying people from diverse groups who are under-represented.
India's banks' recovery faces asset-quality risks: Fitch Ratings
According to Fitch, India's banks reported lower impaired loans and improved profitability for the nine months ended December 2020 due to various forbearance measures and continued large write-offs. In a statement, Fitch said that India's banks - particularly state banks - remained more risk averse than in prior years, which was reflected in their weak credit growth.
Tata Motors shareholders' give nod to hive-off PV biz into new entity
In August last year, the board of directors of the company had approved the proposal as per which Tata Motors would transfer its "PV Undertaking" as a going concern, on a slump sale basis to TML Business Analytics Services, the transferee company for a lump sum consideration of Rs 9,417 crore.
Seychelles fund proves to be Achilles heel for Air India employees as bid gets rejected
The transaction advisor to the government, Ernst & Young, informed the employees of Air India that they have been unsuccessful in qualifying for the next phase of the ‘disinvestment acquisition process' on account of inadequate details of the Seychelles-based fund.
Govt's privatisation plan will see it retaining minority shareholding in select companies
Highly placed government sources said that a bare minimum government presence may be maintained in sectors such as defence, railways and infrastructure so that necessary hand holding is provided to the new management in the initial years of operation.
India retail sector to add 2.5 crore new jobs by 2030: Report
The online+offline model will lead to $125 billion retail exports and $8 billion in incremental GST contribution in the next 10 years, according to the report by Nasscom in association with leading management and consulting firm Technopak.
Crude oil prices jump above $70 per barrel on global tensions
The spike in oil prices comes after Iran-backed Houthi rebels unleashed a coordinated attack on Saudi Arabia oil facilities and military bases. Consequently, the Brent crude futures jumped above $70 a barrel on Monday.
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