Mumbai: Kumar Mangalam Birla has stepped down as the Non-Executive Director and Non-Executive Chairman of the Board of Vodafone Idea Ltd. In a regulatory filing, the company said that the company has accepted the request of Birla to step down. "The Board of Directors of Vodafone Idea Limited, at its meeting held today, have accepted the...
Washington: The International Monetary Fund's (IMF) board of governors has approved a new general allocation of Special Drawing Rights (SDR) equivalent to $650 billion, the largest ever in the organisation's history, in an effort to boost global liquidity amid the Covid-19 pandemic. "This is a historic decision, the largest SDR allocation in the history of...
New Delhi: The Union Cabinet has cleared the Deposit Insurance and Credit Guarantee Corporation Bill 2021 under which depositors of banks under moratorium will be able to access money within 90 days, finance minister Nirmala Sitharaman said briefing the cabinet decision. All commercial banks and even branches of foreign banks operating in India will come...
New Delhi: The government may consider lowering import duty along with offering other sops to Tesla, but for that, the electric vehicle major would have to invest in setting up a manufacturing facility in the country. Tesla had urged the Center earlier to reduce import duty in electric vehicles. It wants to bring its latest...
United Nations: The Delta variant-spurred Covid-19 second wave has shaved off 3 per cent from the International Monetary Fund's (IMF) previous projection for India's economic growth for fiscal year 2021-22, pegging it now at 9.5 per cent, but the country still remains the world's fastest-growing large economy. The IMF's World Economic Outlook Update (WEOU) made...
New York: Johnson & Johnson is exploring a plan to offload liabilities from widespread Baby Powder litigation into a newly created business that would then seek bankruptcy protection, Reuters reported, citing people familiar with the matter. During settlement discussions, one of the healthcare conglomerate’s attorneys has told plaintiffs’ lawyers that J&J could pursue the bankruptcy...
Bengaluru: Leading online learning platform Byju's has acquired Epic, the world's leading digital reading platform for kids 12 and under, for $500 million. The big acquisition comes on the heels of it buying the Aakash Institute for nearly $1 billion earlier this year. The Epic deal was backed by General Atlantic, Sequoia Capital, the Chan-Zuckerberg...
New Delhi: The government has sought the Parliament's approval for an additional spending of Rs 1.87 lakh crore to meet its expenditure commitments made under various Covid relief measures and to provide higher allocation for the health sector. Finance Minister Nirmala Sitharaman presented the first batch of supplementary demands for grants in the Lok Sabha...
New Delhi: Indian investors, especially millennials, are increasingly scaling up their participation in the US markets for portfolio diversification, the UK-headquartered financial services firm Winvesta has said in its latest report. The Winvesta Investor Pulse Report' June 2021 is based on aggregated data from retail investors across India who invest in fractional shares of the...
