BUSINESS
Fuel prices unchanged on Wednesday after hitting record levels nationwide
The pump price of petrol and diesel has increased by Rs 1.49 and Rs 1.51 per litre respectively in January so far with OMCs deciding to break an earlier longer period of pause increasing the retail prices first time this year on January 6. The price had been raised on five different days since then.
Jack Ma makes first public appearance since Oct, keeps mum over his feud with Chinese regulators
Jack Ma, China’s most famous entrepreneur who is also known for his quirky lifestyle was seen addressing teachers via live stream during an annual event he hosts to recognize rural educators. In a video of the even that has been circulated widely online, Ma talked about how he will spend more time on philanthropy.
Expert sees high-quality development of China's economy
The country is expected to be the only major economy to post growth in the pandemic-ravaged year, according to the National Bureau of Statistics (NBS). The latest World Economic Outlook report released by the Organization for Economic Cooperation and Development predicts that China will contribute more than one-third of global economic growth in 2021.
Centre convenes all-party meet on Jan 30 ahead of Budget session
Parliament's Budget session will be held in two phseses amid all precautions against coronavirus -- from January 29 to February 15, and from March 8 to April 8. The all-party meeting will be chaired by Prime Minister Narendra Modi and attended by Defence Minister Rajnath Singh, Home Minister Amit Shah, BJP's Rajya Sabha leader Thawarchand Gehlot, Deputy Leader Piyush Goyal, Parliamentary Affairs Minister Prahlad Joshi, Arjun Ram Meghwal and V Muralitharan.
Equity indices rise, Sensex above 49,600
The index was trading above the 49,600 mark.Healthy buying was witnessed in auto and IT stocks. Around 10 a.m., Sensex was trading at 49,603.64, higher by 205.35 points or 0.42 per cent from its previous close of 49,398.29.
Amazon ties up with Startup India to boost e-commerce exports
As part of the startup accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, venture capital funds and senior leaders from Startup India and Invest India who will engage with emerging brands and provide them tailored resources, mentorship on the global demand patterns and insights on building successful exports business through e-commerce, said an Amazon statement.
Aluminium industry seeks duty protection in Budget to check dumping
In a set of pre-budget recommendations, the industry, represented by the Aluminium Association of India (AAI), has said that the challenges coming from rising imports, declining domestic market share, and increasing production and logistics costs need to be mitigated soon and in this regard, it is essential that the aluminium sector gets duty protection on imports of finished products and relief in case of raw materials.
Cognizant to acquire US-based software firm Magenic
This is Cognizant's third acquisition in January this year, as the company continues to expand in key strategic focus areas. The new acquisition will expand Cognizant's software product engineering footprint, adding 475 employees in the US. across seven locations and more than 350 employees in Manila, Philippines.
Delayed bid cannot be considered under IBC even if better: NCLAT
The judgement was made in a plea by Kalinga Allied Industries India. Kalinga had submitted a resolution plan in time. After several rounds of deliberations by the Committee of Creditors (CoC), a revised resolution plan was submitted by the company on December 19, 2018. The same was approved by the COC by requisite majority in the 13th meeting on December 28, 2018.
Dogfight: Airlines unleash deep discounts to dominate the sky
The first shot in this war of extremely low prices was fired recently with most airlines commencing their sales offers. The development comes around a year since Covid-19 lockdown devastated the sector. Industry insiders, however, now believe that the roll-out of anti-Covid-19 vaccination programme will give a boost to air travel.
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