BUSINESS
TCS posts Rs 9,478 cr profit, interim dividend of Rs 8 per share
According to TCS, for the period ended June 30, 2022, it had posted a revenue of Rs 52,578 up from Rs 45,411 crore earned during the same period the previous fiscal. The company also said it had logged a net profit of Rs 9,478 crore for the period under review up from Rs 9,080 crore earned during the previous year comparable period.
Twitter claims it suspends 1 mn spam users a day
Chief Executive Officer Parag Agrawal had said in May that spam account suspensions were running at 500,000 a day, reports the Guardian. The report mentioned that Musk has agreed to buy Twitter for $44 billion, but his lawyers have written to the company accusing it of refusing to provide sufficient information about the number of spam users on the service. It has since started to supply him with public tweet data.
BPCL refuels over 100 Sri Lanka Airline flights
In a tweet, the BPCL said: "We are pleased to support SriLankan Airlines, with refueling of their long-haul flights at Indian airports, to overcome the Jet Fuel shortage in their country. So far, more than 100 flights have been refueled at #Trivandrum, #Chennai & #Kochi airports." In reply the SriLankan Airlines tweeted: "Thank you @BPCLimited! We truly value our partnership."
India offers 10 blocks for oil exploration and production
The Indian government is offering 10 blocks for International Competitive Bidding, and the bids can be submitted through a dedicated online e-bidding portal till September 6, 2022. Successful award of Round-VIII Blocks would add a further 36,316 square km of exploration acreage and cumulative exploration acreage under OALP regime will be increased to 2,44,007 square km, the government said.
ED may quiz govt officials in connection with Vivo case
The Chinese national had intentionally provided address of Solan, Himachal Pradesh and Gandhinagar, Jammu, and one of the addresses was found to be a government building and of a senior bureaucrat. Chinese smartphone company Vivo's top executives, directors Zhengshen Ou and Zhang Jie, had fled from India via Nepal. The ED has learnt that the firm was involved in huge Hawala transactions.
Vivo moves Delhi HC challenging freezing of its bank accounts by ED
In the writ petition, Vivo said the orders against it are in stark contravention to the mandate of Section 17 of the PMLA, as the same do not entail any reasons for freezing, let alone cogent "reasons to believe" as to why the bank account should be frozen. It is a generic order passed mechanically without any application of mind.
Tokyo stocks close slightly higher, gains capped by Abe shooting
The 225-issue Nikkei Stock Average edged up 26.66 points, or 0.10 per cent, from Thursday to close the day at 26,517.19, Xinhua news agency reported. The broader Topix index, meanwhile, gained 5.10 points, or 0.27 per cent, to finish at 1,887.43. Brokers here said the market mood was severely dented following news of Abe's shooting in the western city of Nara on Friday morning during a stump speech.
Huawei transferred Rs 750 cr abroad, claim I-T Deptt sources
The I-T had in February accused the firm of huge tax evasion and frozen its bank accounts. The I-T department has reportedly found discrepancies in its income tax declaration. "The I-T declaration of the last two years has discrepancies. The revenue of the company was decreasing, but we have found that even in this crisis they repatriated Rs 750 crore abroad," the I-T sources claimed.
Indian-origin Ramesh Balwani found guilty of defrauding investors, patients in US
After a three-month trial, a jury has found him guilty of all 12 counts. He now faces up to 20 years in prison for each count, The Verge reported late on Thursday. Youngest billionaire Holmes has already been found guilty of defrauding investors. Indian-origin Balwani was Holmes' "boyfriend in secret". Holmes founded Theranos in 2003 and the company was once valued at more than $9 billion.
Pay as you drive should be applicable to 3rd party insurance as well
When asked by IANS, industry officials kept a stoic silence as the companies are raking in money from the motor insurance portfolio. At a time when the industry is lobbying for more regulatory relaxations, barring one or two CEOs, others are mum, when it comes to policyholder friendly moves like scrapping of administrative pricing for motor third party premium.
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