Business

Coca-Cola loses $4 billion after Ronaldo gesture


London: Coca-Cola has said that "everyone is entitled to their drink preferences" after football star Cristiano Ronaldo removed two of the company's soft drink bottles from his press conference. The incident happened during Ronaldo's press conference. At the pre-match press conference for UEFA Euro 2020, the Portuguese star wasn't pleased with the fact that two...

Twitter loses status of intermediary platform in India

Post Date: June 17, 2021

New Delhi: Social media platform Twitter has lost its status of intermediary platform in India over non-compliance to the new intermediary guidelines. As a result of the development, the company has lost its legal shield in the country from prosecution over posts. "Twitter has lost its status as an intermediary platform in India as it has...

Adani Group cos say FPI accounts not frozen


New Delhi: Denying freezing of accounts of three foreign portfolio investors (FPI) holding shares in Adani Group companies by the NSDL, group companies have said that such reports are "erroneous" and "misleading". In separate communications to the BSE and the National Stock Exchange (NSE), all the listed Adani Group companies said that it has confirmation...

Innovation came to rescue during Covid: Modi


New Delhi: Inviting investors to the country, Prime Minister Narendra Modi on Wednesday said that innovation came to the rescue during Covid as he highlighted India's major benefits for both investors and innovators. Delivering his keynote address at the 5th edition of VivaTech, one of the largest digital and start-up events in Europe, he said:...

India’s forex reserves rise by over $5 billion

Post Date: June 9, 2021

Mumbai: India's foreign exchange reserves rose by $5.271 billion during the week ended May 28. According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $598.165 billion from $592.894 billion reported for the week ended May 21. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs),...

Infosys regrets glitches on ITR portal: Nilekani to Nirmala


New Delhi: Responding to Finance Minister Nirmala Sitharamans call to attend to the complaints of the taxpayers regarding issues on the newly launched ITR e-filing portal and improve the service quality, Infosys Co-Founder and Chairman Nandan Nilekani said the company regrets the initial glitches and is working to resolve the issues. In a tweet, Nilekani...

El Salvador becomes first nation to make Bitcoin a legal tender


San Salvador: El Salvador President Nayib Bukele has announced that the country has approved the bill to make Bitcoin cryptocurrency a legal tender in the Central American country. The Central American country is now the first country in the world to make Bitcoin legal tender. "The #BitcoinLaw has been approved by a supermajority in the Salvadoran...

Biden reinvigorates tariff war against India


New York: The US tariff war against India has been reinvigorated by President Joe Biden threatening to increase import duties on a range of imports, from prawns and Basmati rice to furniture and jewelry, in retaliation against New Delhi imposing Digital Services Tax (DS) on tech giants. The US Trade Representative Katherine Tai announced on...

Female CEOs saw ranks dwindle in 2020, pay falls


New York: Most of the women running the biggest US companies saw their pay increase last year, even as the pandemic hammered the economy and many of their businesses, the media reported. Despite those gains, however, the median pay for female chief executives actually fell in 2020. Already a small group, they saw several high-profile...