CPI opposes banking licence to industrial/business houses
NEW DELHI: The Communist Party of India (CPI) on Tuesday opposed the recommendations of Reserve Bank of India’s (RBI) working group to issue banking licence to industrial/business houses and conversion of large finance companies into banks. “It should be recalled here that at the time of Independence of our country, all the banks in India […]
Russia’s Sputnik V Covid-19 vaccine claimed to be 95% effective
MOSCOW: Russia’s Sputnik V vaccine has been found to be more than 95 per cent effective against Covid-19 in the second interim analysis of Phase 3 clinical trial data, its developers said on Tuesday. The analysis was based on data from volunteers obtained 42 days after the first dose — which corresponds with 21 days […]
Embassy launches asset light management business under brand ‘Olive Residences’
NEW DELHI: Real estate player Embassy Group Embassy said that it has launched its asset light management business named – Olive Residences. With a twofold membership approach, one can choose their primary residence location in the city and gain access to member partner escape locations, as well as the exclusive Olive Club on a “pay […]
CBI registers 2 more FIRs in Rs 25,000 Jammu and Kashmir land scam case
NEW DELHI: The Central Bureau of Investigation (CBI) has registered two more FIRs linked to the Rs 25,000-crore Roshni land scam against the Revenue Department officials and others in Jammu and Kashmir (J&K), taking the total number of cases to seven so far. The probe agency took over these cases in pursuance to the J&K […]
China successfully launches its first spacecraft to moon to collect samples, return to earth
By K J M Varma BEIJING/ WENCHANG: China successfully launched its first unmanned space mission on Tuesday to collect samples from the moon’s surface and return to earth, the country’s maiden attempt to retrieve materials from an extra-terrestrial body. China has successfully launched the Chang’e-5 lunar probe from the Wenchang Spacecraft Launch Site in the […]
Bengaluru-based payments company Cashfree raises USD 35 million
BENGALURU: Bengaluru-based fintech, Cashfree said on Tuesday it has received USD 35.3 million (approximately Rs 260 crore) as part of its Series B raise. The investment was led by growth stage financial services investor, Apis Growth Fund II, with participation from existing investor Y Combinator, it said in a statement. Cashfree, a payments and banking […]
Joe Biden plans to nominate topmost economist Janet Yallen as Treasury Secretary: Reports
By Lalit K Jha WASHINGTON: US President-elect Joe Biden is planning to nominate former Federal Reserve Chair Janet Yallen as his Treasury Secretary to lead his economic response to the raging coronavirus pandemic, which has wreaked havoc on the world’s biggest economy and led millions of Americans to lose their jobs. A formal announcement on […]
Goa government issues Rs 156 crore demand notice to JSW Steel
PANAJI: The Goa government has issued a demand notice to JSW Steel Ltd, handling coal at Mormugao Port Trust (MPT), to pay Rs 156.34 crore in the form of Goa Rural Improvement and Welfare Cess, within a fortnight, for transportation of coal. In a demand notice issued on November 9, 2020, copy of which was […]
Ram Nath Kovind inaugurates Air India One flight
NEW DELHI: President of India Ram Nath Kovind on Tuesday boarded the Air India One — B777 aircraft — on its inaugural flight to Chennai. “The President of India, Shri Ram Nath Kovind boarded the Air India One – B777 aircraft for inaugural flight to Chennai today (November 24, 2020). He is visiting Tirupati, Andhra […]
Jayakwadi dam water released for irrigation
AURANGABAD: The Jayakwadi dam in Maharashtra’s Aurangabad district is filled to its maximum storage capacity due to good rains this year and water is being discharged from it for the purpose of irrigation, an official said on Tuesday. The release of water from the dam, which is the largest reservoir in the Marathwada region, is […]
Prestige Group to invest Rs 2,000 crore on 4 new housing projects in Bengaluru, Hyderabad and Goa
NEW DELHI: Realty firm Prestige Estates Projects Ltd will develop four new housing projects in Bengaluru, Goa and Hyderabad with an investment of nearly Rs 2,000 crore amid recovery in demand for residential properties. The Bengaluru-based company will develop nearly 3,400 housing units in these four projects over the next three and half years. “We […]
US agency ascertains Joe Biden as winner, lets transition begin
WASHINGTON: The General Services Administration (GSA) ascertained Monday that President-elect Joe Biden is the “apparent winner” of the November 3 election, clearing the way for the start of the transition from President Donald Trump’s administration and allowing Biden to coordinate with federal agencies on plans for taking over on January 20. Trump, who had refused […]
Customs arrest suspended IAS officer in gold smuggling case
NEW DELHI: The Customs on Tuesday formally arrested suspended IAS officer M Sivasankar in connection with the Kerala gold smuggling case. In July, 2020, a 1995 batch IAS officer Sivasankar was removed from the posts of principal secretary to CM and Information Technology (IT) secretary after news reports of his association with Swapna Suresh, charged […]
Elon Musk overtakes Bill Gates to grab world’s second-richest ranking
NEW DELHI: Elon Musk’s year of dizzying ascents hit a new apex Monday as the Tesla Inc. co-founder passed Bill Gates to become the world’s second-richest person. The 49-year-old entrepreneur’s net worth soared $7.2 billion to $127.9 billion, driven by yet another surge in Tesla’s share price. Musk has added $100.3 billion to his net […]