BUSINESS
Apple to hold off new orders to Wistron after Indian workers riot
Due to lapses in labour practices, several Wistron workers led to riots at a plant in Narasapura near Bengaluru. Wistron failed to implement a proper working hour management process which led to delays in payments to workers, causing them to put up a protest in October and November, Apple said in a statement on Saturday.
iPhone 12 production on track in India, Mini may be delayed: Report
Apple’s decision to put Wistron Corp on probation over labour practice lapses will not derail the Cupertino-based company’s plans of manufacturing its latest flagship model, iPhone 12.
Israeli assets abroad hit record high $558 bn in Q3: Report
In the third quarter, the asset balance increased by almost $35 billion, or 6.65 per cent, from the end of the second quarter of this year, Xinhua news agency quoted the report as saying. The bank explained that the increase was derived mostly from a rise in reserve assets and from purchases of shares that increased the balance of investment in the foreign securities portfolio.
Future's plea for interim injunction against Amazon rejected by Delhi HC
Earlier, after a Singapore-based single judge arbitration panel put the RIL and Future Group transaction on hold, Amazon had won an interim award against the sale. In response, the Future Group filed a plea to restrict Amazon from interfering in its deal with RIL based on the SIAC interim order.
Edelweiss Financial Services announces Rs 200cr Public Issue of NCDs
An additional incentive maximum of 0.20 per cent p.a. will be offered for all Category of Investors in the proposed Issue, who are also holders of NCD(s)/Bond(s) previously issued by the Company.
Indian firms line up for 2nd Gen Oracle Cloud to boost growth
Other Indian firms subscribing to Oracle's Cloud applications and infrastructure include Omega Healthcare, Nippon Life India Asset Management, GTPL Hathway, IFFCO, Lipi Data Systems, Infocepts, RXIL and ARCIL.
Saudi Arabia inks strategic partnership with Huawei on industry collaboration
The MoU was signed by Ahmad Aljarboa, deputy governor of Corporate Support Sector at CITC, and Terry He, CEO of Huawei Tech Investment Saudi Arabia, said a statement by Huawei on Sunday. Huawei will become a strategic partner to CITC in several areas, including collaboration on knowledge exchange, human resource capacity development, and ICT industry, the Xinhua news agency reported.
Market bull run likely to continue on hopes of vaccine, US stimulus
During the past week, both the BSE Sensex and the Nifty50 on the National Stock Exchange (NSE) touched fresh all-time highs. Deepak Jasani, Head of Retail Research at HDFC Securities, noted that the undertone of the Indian market was upbeat during the week amid positive global cues following the progress in coronavirus vaccine.
Need multiple bad banks to address NPA issue: CII to govt
In its pre-budget memorandum submitted to the government, the industry body has recommended the government to consider enabling Foreign Portfolio Investors (FPIs) and Alternative Investment Funds (AIFs) to purchase NPAs.
Gold imports decline 40% in Apr-Nov to $12.3 bn
India's gold imports declined by 40 per cent to nearly $12.3 billion during the April-November period as demand weakened amid the pandemic, as per Commerce Ministry's data.
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