BUSINESS
Twitter shareholders set to vote on Musk's $44 bn takeover bid
In its latest filing with the Securities and Exchange Commission (SEC), Twitter also denied any breach in paying $7.75 million severance payment to whistleblower Peiter "Mudge" Zatko. Last week, the Tesla CEO shot off a third notice to Parag Agrawal-led Twitter, aimed at terminating the $44 billion takeover deal.
Centre plans $2.5 bn compensation to oil companies: Report
The losses have been incurred by the OMCs as they absorbed international crude prices, however the report, quoting sources, said that while the Petroleum Ministry had sought a far greater amount, the Finance Ministry agreed only to $2.5 billion as a cash payout.The partial compensation to OMCs has also been planned to rein in cooking gas prices, the Bloomberg report said. It further said, quoting sources, that the discussions on compensation payout are at an advanced stage though a final decision is yet to be taken.
Rise in retail inflation due to high food prices, adverse base effect: Centre
"Prices of major inputs like iron ore and steel have sobered in the global markets. This coupled with the measures taken by the government to rationalise tariff structures of inputs to augment domestic supply has helped to keep cost push inflation in consumer items under control," the Finance ministry said.
Tata Group to invest Rs 600 cr in Bengal: CM Mamata Banerjee
Although CM Mamata Banerjee made this claim at an event to hand over appointment letters to various beneficiaries under 'Utkarsh Bangla', a skill development scheme of the state government on Monday afternoon, she did not divulge any further details on this count like the sector where the investment will take place or the time by when the investment will be made.
Sanjay Khanna appointed CEO of American Express India
In his new role, Sanjay Khanna will also spearhead several strategic and business development initiatives for the company while steering smooth collaboration across its diverse businesses in India. His position will be key to advancing and strengthening the company's strategic focus in India.
India ranks 1st in APAC region in customer experience maturity: Report
According to a report by Zendesk, 'exceptional' is what businesses must strive for when meeting customer expectations. However, just 17 per cent of Indian businesses are qualified as 'CX Champions' -- those considered the highest standard-bearers, indicating there are only a few organisations in India delivering exceptional customer services.
'India wants bilateral trade relations with countries with which it can increase volume'
Under the World Trade Organisation (WTO) mechanism in 1995, the focus was more on multilateral agreements. Now the major difference is that global perspective, global needs and global trade are under greater focus. The intent of the government is now more on 'Make In India' and the attitude is inward looking. So rather than waiting for WTO reforms to happen, India wants to look at bilateral trade relations with countries with which it can increase its trade volume.
Lured by a rising India, Central Asia rediscovers Iran's Chabahar port
For landlocked countries of Central Asia, connectivity is the greatest priority, both in economic and strategic terms. For double landlocked countries like Uzbekistan, it assumes even greater salience. And the shortest route to the warm waters of the Indian Ocean and to South Asia and further afield is through Af-Pak.
NBFCs AUM to grow 11-12% by end of this fiscal: CRISIL
"Even as growth touches double digits again, it will be lower than the pre-pandemic level. Indeed, AUM had logged a 3-year compound annual growth rate (CAGR) of close to 20 per cent through fiscal 2019. Intense competition from banks and the rising interest rate scenario will limit the competitiveness of NBFCs in certain segments, leading them to focus on higher-yield segments for growth," said Krishnan Sitaraman, Senior Director and Deputy Chief Ratings Officer, CRISIL Ratings.
RIL invested $ 6.6 bn in inorganic acquisitions since 2018
Reliance Industries Limited (RIL) has announced the acquisition of downstream polyester manufacturer, Shubhalakshmi Polyesters. The acquisition will expand RIL's polyester capacity and is inline with plans to better integrate its businesses - from oil products to chemicals and, eventually, consumer retail, Morgan Stanley said in a report.
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