BUSINESS
EU leaders agree on roadmap to tackle rising energy prices
The agreement was reached after several hours of discussions over proposals to lower energy bills, which have skyrocketed due to the ongoing war between Russia and Ukraine, reports Xinhua news agency. The summit agreement sets out a "solid roadmap to keep on working on the topic of energy prices", European Commission president Ursula von der Leyen said while addressing a press conference here on Friday.
Musk's antics in Twitter deal make life super tough for banks
According to a report in the Wall Street Journal citing sources, Morgan Stanley, Bank of America and Barclays are finding it hard to hold all $13 billion of debt backing the deal rather than sell it. Banks would likely face losses of around $500 million or more if they tried to sell Twitter's debt at current market prices. A bank generally sells the debt used to create a buyout, and moves on to the next deal.
Oracle modernising Airtel for larger 5G roll-out in India: Top executive
Airtel has launched 5G Plus services in eight cities and users will not need to change the SIM card as the existing Airtel 4G SIM is now 5G-enabled. Customers in Delhi, Mumbai, Chennai, Bengaluru, Hyderabad, Siliguri, Nagpur and Varanasi will start enjoying the Airtel 5G Plus services in a phased manner, said the company, as it continues to construct its network and complete the roll out.
We pay all taxes in India, pleased at ITAT order: Google
In its earlier order in 2018, the ITAT had said that Google India's payment to Google Ireland is a royalty and tax should be paid in the country. "We are pleased that the Income Tax Appellate Tribunal through its detailed and reasoned order has confirmed the distinction between royalty and business profits. As such, we pay all of the applicable taxes due and comply with the tax laws in India and in every country where we operate around the world and will continue doing so," a Google spokesperson said in a statement to IANS.
Why India's exports to Europe could see a big jump following Ukraine war
Until February this year, Russia was one of the main trade partners of the European Union. In 2021, Moscow was the EU's fifth largest trade partner, representing 5.8 per cent of the region's total trade in goods with the world. Besides oil and gas, EU's imports from Russia comprised wood, iron and steel, fertiliser, machinery and equipment, motor vehicles, pearl, and precious stones among other items. The EU is already India's second largest trading partner after the US.
'Diwali festive sales likely to witness growth of Rs 60K crore rupees over 2019'
The buying season of Diwali is considered to start from the first Navratri and last till Tulsi Vivah, to be marked on November 5 this year. CAIT Secretary General Praveen Khandelwal claimed that Prime Minister Narendra Modi's campaign of Vocal for Local and Atmnirbhar Bharat has had a huge impact on consumers across the country, and that customers now demand only Indian products in the markets.
Vodafone Idea's board approves issuance of Rs 1,600 crore debentures to ATC Telecom
Vodafone Idea owes an estimated Rs 6,800 crore to mobile tower giant Indus Towers and Rs 2,400 crore to ATC. There was however no word on clearing Indus Towers' dues in the meeting. Indus Towers is said to have asked Vodafone Idea to clear its outstanding dues and pay every month on time for continuity of business post-November 2022. Friday's meeting was held to finalise plans for raising funds.
Akash Ambani to launch 5G services in Rajasthan from Shrinathji temple on Sat
As per the information received, Akash Ambani will reach Udaipur on Saturday morning by a special plane, from where he will travel to Nathdwara to launch 5G services in the desert state. Ambanis have immense faith in Shrinathji -- the deity of the Ambani family -- from whose temple it had launched Reliance Jio 4G services earlier.
RIL shareholders to get shares on 1:1 basis in soon to be listed JFSL
JFSL would be listed on the Indian stock exchanges. RSIL is currently a wholly-owned subsidiary of RIL and is a RBI-registered non-deposit taking systemically important (ND-SI) non-banking financial company (NBFC). Pursuant to the scheme, shareholders of RIL will receive one equity share of JFSL of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL.
RIL posts Rs 15,512 crore net for Q2
For the period ended September 30, 2022, RIL had posted a gross revenue of Rs 253,497 crore up from Rs 191,532 crore logged for the period ended September 30, 2021. The company had registered a net profit of Rs 15,512 crore for the period ended September 30, 2022 up from Rs 15,479 crore posted for same period the previous year.
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