‘Claimant has already drawn ₹16 lakh’ Hospitality firm OYO on Thursday said the National Company Law Appellate Tribunal (NCLAT) had ordered a stay on the formation of a committee of creditors in proceedings under the Insolvency and Bankruptcy Code against its subsidiary OYO Hotels and Homes Pvt. Ltd. (OHHPL). Earlier, the National Company Law Tribunal […]
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India to resume buying oil from Iran once U.S. sanctions ease
India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration India will look to resume buying crude oil from Iran the moment U.S. sanctions are eased, helping it diversify its import basket, a senior government official said. India stopped importing oil from Iran in mid-2019 following […]
Global banks warn of possible losses from hedge fund default
Credit Suisse didn’t identify the ‘significant’ hedge fund or the other banks affected Swiss bank Credit Suisse said Monday it may have suffered a “highly significant” loss from a default by a U.S.-based hedge fund on margin calls that it and other banks made last week, while Japan’s Nomura said it could face a loss […]
Indonesia oil refinery: 5 injured, hundreds evacuated after blaze
Fox Business Flash top headlines for March 26 Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com. JAKARTA- Indonesian state oil company Pertamina said on Monday it has shut its Balongan oil refinery in West Java as it battles to control a massive fire that broke out overnight, injuring five people. […]
General Mills To Divest 51% Controlling Stake In Yoplait S.A.S. To Sodiaal – Quick Facts
Food company General Mills (GIS) announced Tuesday that it has entered into a memorandum of understanding to sell its 51 percent controlling interest in Yoplait S.A.S. to French dairy cooperative Sodiaal, in exchange for full ownership of the Canadian Yoplait business and a reduced royalty rate for use of the Yoplait and Liberté brands in […]
Govt to sell remaining stake in Delhi, Mumbai, B'lore, Hyderabad airports
The AAI, which works under the Ministry of Civil Aviation, owns and manages more than 100 airports across the country. The government plans to sell its residual stake in already privatised Delhi, Mumbai, Bengaluru and Hyderabad airports as part of the ambitious ₹ 2.5 lakh crore asset monetisation pipeline identified to raise additional resources, sources […]
‘India can become global AI, data hub, enabling jobs’
Creating suitable talent pool vital: Microsoft India president There’s a huge opportunity to position India as a global hub for data and artificial intelligence (AI), enabling investment, jobs and innovation, says Anant Maheshwari, president, Microsoft India. Excerpts: How prepared are enterprises today in a pandemic-stricken marketplace? Across every industry and sector, we’ve seen years’ worth […]
The ‘long’ and ‘short’ of debt funds
The longer your investment horizon, the better At the current juncture, when interest rates are threatening to move upwards, there is a question among investors — which funds are appropriate and which funds should one exit. Before we discuss the guidance part, let us look at some relevant facts for ease of understanding. The 16 […]
PVR to invest ₹ 150 crore to add 30-40 screens next fiscal; eyes 1,000 screens by FY23
Multiplex major PVR plans to invest ₹ 150 crore to open up to 40 screens across the country in the next fiscal. The company’s target of having 1,000 operational screens has been pushed by a year due to the outbreak of the COVID-19 pandemic to the end of fiscal 2022-23, a top company official has […]
Haryana’s new job quota rule ‘spells disaster’, says India Inc.
Industrial development and private investment will be hit, ‘ultimately hurt the interests of the State’ Warning that its move to reserve private sector jobs for locals “spells disaster” for industrial development and private investment in Haryana, the India Inc. has asked the State to “re-look” the legislation, highlighting the lack of adequate availability of skilled […]