Business

Qantas 7-hour flight to nowhere sells out in 10 minutes


By The SATimes News Service Sydney: Pre-pandemic, many of us viewed flying simply as a method of getting from one destination to another as quickly as possible. That's where "flights to nowhere" come in -- air travel that takes place purely for the purpose of the journey, not the destination. Proving how popular these now are, a...

KKR to invest Rs 5,500 crore in Reliance Retail ventures


By The SATimes News Service Mumbai: Reliance Industries Limited on Wednesday announced that global investment firm KKR will invest Rs 5,550 crore into its subsidiary Reliance Retail Ventures Limited to pick up 1.28 per cent equity in the company. This investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore, a company...

China threatens to end ‘dirty’ TikTok deal: Report


By The SATimes News Service Beijing: China has no reason to approve the “dirty and unfair” deal based on “bullying and extortion” that Oracle and Walmart said they struck with ByteDance, the state-backed English-language China Daily newspaper said on Wednesday. “What the United States has done to TikTok is almost the same as a gangster forcing...

Not leaving India market: Toyota Kirloskar Motor


By The SATimes News Service New Delhi: Premium automobile manufacturer Toyota Kirloskar Motor has reaffirmed its commitment to India as being an integral part of the company's global strategy. "We need to protect the jobs we have created and we will do everything possible to achieve this," the company said in a statement. "Over our two decades...

Indian economy to contract 9% this fiscal, says report

Post Date: September 16, 2020

By The SATimes News Service New Delhi: The Asian Development Bank (ADB) on Tuesday projected the Indian economy to contract 9% this fiscal, deeper than its June estimate of 4%, saying the fast-spreading coronavirus is hindering economic activity and consumer sentiment. The multilateral bank, however, expects GDP to rebound next fiscal with an 8% growth. ADB’s move...

US to block some exports from China

Post Date: September 16, 2020

By The SATimes News Service Beijing: The US will block some exports from China's Xinjiang region, over alleged human rights abuses against the Muslim Uighur minority, the Department of Homeland Security (DHS) has announced. The orders said that "forced labor" was used to make the products, including at a "vocational" center it called a "concentration camp",...

Oracle confirms TikTok deal as ‘trusted tech provider’


By The SATimes News Service San Francisco: Cloud major Oracle has confirmed a deal with ByteDance, the Chinese owner of short video-sharing platform TikTok which has been under pressure to divest its US operations for more than a month now. The confirmation by Oracle comes a day after Microsoft, which was among the frontrunners to seal...

Silver Lake to invest Rs 7,500 crore in Reliance Retail

Post Date: September 10, 2020

By The SATimes News Service Mumbai: Reliance Industries Limited (RIL) has announced that Silver Lake will invest Rs 7,500 crore into its subsidiary Reliance Retail Ventures Limited (RRVL). The investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore. Silver Lake's investment will translate into a 1.75 percent equity stake in RRVL on...

India now ranks 4th in renewable energy: Modi


By The SATimes News Service New Delhi: Pointing out that India ranks fourth globally in terms of renewable energy, Prime Minister Narendra Modi has said that the country has increased its installed capacity in this sector by 2.5 times and the installed solar capacity by more than 13 times. India has scaled its non-fossil fuel-based power...