BUSINESS
PSU asset monetisation likely to get fillip in Budget FY22
Government's asset monetisation programme involving development and sale of surplus land parcel and other non-core assets of central public sector enterprises (PSEs) is expected to be a big focus of Budget 2021-22 that is constrained to look at various innovative models to mobilise additional resources amidst a Covid-hit economy.
Government may go in for legal challenge to Vodafone, Cairn arbitration outcomes
The government was waiting for outcome of the arbitration initiated against it for levy of over Rs 10,000 crore retrospective tax on Cairn Energy before finalising its stand on a similar tax dispute case with Vodafone Group where an international arbitration court has ruled against it and in favour of the telecom company.
FM Nirmala Sitharaman wraps up pre-Budget consultations, over 170 take part in 15 virtual meetings
The stakeholder groups include financial and capital markets; health, education and rural development; water and sanitation; trade union and labour organisations; industry, services and trade; infrastructure, energy and climate change sector; agriculture and agro-processing industry; industrialists; and economists.
TCS, Wipro among top ITeS players of 2020, American companies lead in product category
The report talks about emerging trends within the ITeS space such as adoption of work from home technologies, inclusion of cloud offerings and the strong lineup of acquisitions & partnerships that were witnessed during the year. An analysis of the announcements by top players reveals that the pandemic has successfully reversed the traditional outsourcing trend in this industry and given rise to destination hiring as a popular practice.
Pharma sector revenue, margins likely to remain healthy in FY2022: ICRA
The revenue growth in FY2022 is expected to be slightly better at 8-11 per cent, though lower incidences of acute diseases, lesser OPDs and elective surgeries may continue to have some bearing on growth and will depend upon the course of the pandemic, the report added.
iPhone shipments to hit record quarter with 21% growth: Report
Record iPhone shipments for the fourth quarter will be driven not only by North America but also India, China, Japan, and countries in Europe, said the report. These include pent up demand for a new 5G iPhone with both operators and consumers hungry for the new iPhone products, attractive prices on the iPhone 12 aided by bountiful promotional offers.
Essar Projects wins over $62 mn contract in Papua New Guinea
The contract was won via an international competitive bidding route following a stringent multi-stage short listing and approval process. EPPNG has emerged as Papua New Guinea's preferred partner for over a decade now for creating world class infrastructure and enjoys grand support from the local citizens as well.
Indian firms see a silver lining in Cloud in pandemic-hit year
For Cloud players, the year offered a great opportunity to sell their scalable and secure Cloud-based solutions while keeping data within the territories of the country. According to an IDC survey that came out in November, more than 60 per cent of the Indian organisations plan to leverage Cloud platforms for digital innovation, as the firms re-strategise their IT spending plans as a result of Covid-19.
Cairn Energy wins arbitration award against India in tax dispute, Govt to mull next move after studying the verdict
British energy major Cairn Energy has won an international arbitration case against the Indian government over a tax dispute. The international arbitration tribunal ruled that India's tax claim of Rs 10,247 crore in past taxes over internal reorganisation of Cairn's India business was not a valid demand.
TikTok's Indian clone Josh app raises $100 million from Microsoft, Google
After the Indian government decided to ban TikTok amidst the India-China standoff in Ladakh, the number of short-video platforms in the country shot up in no time. This scenario created a void in the huge market of short-video based platforms and attracted global investors to pour in money on the home-grown apps.
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