Month: March 2021

Modi cabinet approves production linked incentive scheme for food processing industry

NEW DELHI: The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the Central Sector Scheme – “Production Linked Incentive Scheme for Food Processing Industry (PLISFPI)” to support creation of global food manufacturing champions commensurate with India’s natural resource endowment and support Indian brands of food products in the international markets with an […]

India, South Korea agree on joint production, export of military hardware

NEW DELHI: In a significant move, India and South Korea have agreed to go for joint production and export of military hardware, enhance intelligence sharing and boost cooperation in cyber and space domains as part overall expansion of defence and security ties, official sources said on Sunday. The decisions were taken during delegation-level talks between […]

Ship ‘partially refloated,’ but still stuck in Suez Canal

By ISABEL DEBRE and SAMY MAGDY SUEZ, EGYPT:Engineers on Monday “partially refloated” the colossal container ship that continues to block traffic through the Suez Canal, authorities said, without providing further details about when the vessel would be set free. Satellite data from showed that the ship’s bulbous bow, once lodged deep in the canal’s […]

Kirloskar Brothers to be debt-free company, focus on profitable growth

NEW DELHI: Leading pump makers Kirloskar Brothers Ltd (KBL) is close to be a debt-free company and will continue its growth journey into domestic and international markets, said a top company official. After being debt-free, the company will focus on cash flow and will not chase topline (revenue) numbers at the cost of profitability, said […]

Cairn to seize overseas Indian assets to enforce $1.2-billion arbitration award

NEW DELHI: UK’s Cairn Energy Plc plans to bring lawsuits in the US and other countries to pierce the corporate veil between the Indian government and its owned companies such as in oil and gas, shipping, airline and banking sectors, to seize their overseas assets to recover USD 1.2 billion ordered by an international arbitration […]

Seven of top 10 companies lose over Rs 1 trillion in market capitalisation

NEW DELHI: Seven of the 10 most valued domestic companies witnessed a combined erosion of Rs 1,07,566.64 crore from their market valuation last week, with Reliance Industries accounting for around half of the losses. Last week, the 30-share BSE benchmark Sensex declined 849.74 points or 1.70 per cent. Only Tata Consultancy Services (TCS), Hindustan Unilever […]

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