BUSINESS
SEBI proposes to reduce timelines for share buy backs, open offers
The regulator has proposed changes to various procedural activities involved in the 'buy back' tender offers which would help reduce the overall time required in the 'open offer' process from 43 working days to 36 working days. Besides, other proposed amendments would help reduce the overall time required in the 'open offer' process from the existing timeline of 62 working days to proposed timeline of 42 working days.
Emirates to reinstate pre-pandemic flight frequency to India
The airline will be operating 170 weekly flights to nine cities in the country, including 35 weekly flights to Mumbai, 28 to New Delhi, 24 to Bengaluru and 21 to Chennai amongst others. "The move comes on the back of the decision by the Indian government to restore international flights to and from the country in line with established bilateral agreements from the end of March 2022," the airline said in a statement.
BMW India to increase prices from April 2022
Luxury automobile manufacturer BMW India said it will increase prices by up to 3.5 per cent across its model range effective from April 1. The price increase will be brought into effect to adjust the material and logistics costs, impact of current geo-political situation and exchange rates. Earlier, another luxury carmaker, Mercedes-Benz India had announced an upward revision in price of its entire model range effective from April 1.
Corporate tax reduction helped economy: FM
Replying to the debate on the Finance Bill, the minister told the Lok Sabha that corporate tax collections stood at Rs 7.3 lakh crore so far this fiscal. Besides, Sitharaman pointed out that the Central government did not increase taxes last year or this year. She cited that 32 countries like Germany, France, Canada, UK among others increased taxes.
Akasa Air plans to launch first flight in June
India's newest budget airline Akasa Air plans to launch its first commercial flight in June. The airline's chief executive Vijay Dube said on Friday that they are working with the Ministry of Civil Aviation (MoCA) and Directorate General of Civil Aviation (DGCA) to get the required clearances for commencing the air operations.
Flavour of India's wheat must capture world's taste buds: Modi
Prime Minister Narendra Modi has said the flavour of India's wheat must capture the entire world's taste buds and help increase the country's wheat exports, the Rajya Sabha was informed on Friday. Union Minister for Commerce and Industry, Piyush Goyal informed this while replying to the supplementary question related to wheat export during the Question Hour. Goyal was responding to a question raised by Congress MP Anand Sharma.
China seeks bumper wheat harvest amid fears of global food crisis
The notice, coming at a time when the protracted Russia-Ukraine conflict has stretched the global food supply ranging from corn and wheat to potash fertiliSers, and pushed their prices to record highs, highlighted the latest of a concrete effort from the Chinese government to secure the spring ploughing of staple grains and bumper harvest against the potential impact of geopolitical tensions.
Gold, asset devaluation pulls India's forex reserve down by $2.597 bn
Devaluation of gold and other asset classes pulled India's foreign exchange reserves lower by $2.597 billion during the week that ended on March 18. Reserve Bank of India data showed that India's forex reserves fell to $619.678 billion from $622.275 billion reported for the previous week. The country's forex reserves consist of foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF.
Equity indices settle marginally low
India's key equity indices -- Sensex and Nifty -- settled marginally lower on Friday. Sensex settled 0.4 per cent or 233 points down at 57,362 points, whereas Nifty 0.4 per cent or 70 points down at 17,153 points. "After the recent 10 per cent rally, the market has turned sideways with a negative bias due to increase in commodity prices, tightening monetary policy and inflationary pressure
UN agency downgrades Indian economic growth for 2022 to 4.6 percent
The United Nations Conference on Trade and Development (UNCTAD), in its latest report titled “Tapering in a Time of Conflict”, downgraded India’s projected growth from 6.7 percent to 4.6 percent for the year 2022 saying the Indian economy will suffer due to shocks from the Ukraine war and changes in macroeconomic policies.
Don't Miss
Advertisement