John McAfee, antivirus software pioneer, found dead in Spanish prison
By Monica Greig & Kartikay Mehrotra John McAfee, the creator of the eponymous antivirus software, was found dead Wednesday in prison outside Barcelona. He was 75. In recent years, McAfee became a prominent booster of cryptocurrencies, ran unsuccessfully for U.S. president, had numerous run-ins with the law and traded in extreme conspiracy theories. McAfee was […]
S&P cuts India’s FY22 growth forecast to 9.5 per cent
NEW DELHI:S&P Global Ratings on Thursday cut India’s growth forecast for the current fiscal to 9.5 per cent, from 11 per cent earlier, and warned of risk to the outlook from further waves of COVID pandemic. The agency lowered the growth outlook saying that a severe second COVID-19 outbreak in April and May led to […]
India’s Covid-19 vaccination coverage crosses the landmark of 30 crore
NEW DELHI: In a milestone achievement, India’s cumulative vaccination coverage has exceeded 30 Crores yesterday. A total of 30,16,26,028 vaccine doses have been administered through 40,45,516 sessions, as per the provisional report till 7 am today. 64,89,599 vaccine doses were administered in the last 24 hours. These include: HCWs 1st Dose 1,01,58,915 2nd Dose 71,32,888 FLWs 1st Dose 1,73,03,658 […]
Enforcement Directorate transfers Rs 9,371 crore assets seized in Vijay Mallya, Nirav Modi and Mehul Choksi to Public Sector Banks
NEW DELHI: The Enforcement Directorate (ED) on Wednesday transferred seized assets worth Rs 9,371.17 crore in the cases related to Vijay Mallya, Nirav Modi, and Mehul Choksi, to Public Sector Banks (PSBs) and Central Government. Assets worth Rs 18,170.02 crore have so far been seized by the ED. “Enforcement Directorate (ED) not only seized assets […]
Jet Airways shares continue to fly high
NEW DELHI: Shares of Jet Airways extended their rally to Wednesday, gaining 5 per cent, after the National Company Law Tribunal (NCLT) gave its nod to the Jalan Kalrock Consortium’s bid for the airline. The stock jumped 4.98 per cent to Rs 104.40 — its upper circuit limit — for the day on both BSE […]
Sensex drops 283 points; Nifty ends below 15,700
NEW DELHI: Equity benchmark Sensex gave up early gains and tumbled 283 points on Wednesday following losses in index heavyweights Reliance Industries, HDFC and ICICI Bank. The 30-share BSE index ended 282.63 points or 0.54 per cent lower at 52,306.08. Similarly, the broader NSE Nifty declined 85.80 points or 0.54 per cent to 15,686.95. Kotak […]
FDI in April up 60 per cent to USD 4.44 billion
NEW DELHI: Foreign direct investment (FDI) into India increased by 60 per cent to USD 4.44 billion in April as against USD 2.77 billion in the same month last year, government data showed on Wednesday. Total FDI, including equity, re-invested earnings and capital, rose 38 per cent to USD 6.24 billion in April this year, […]
Cipla gets USFDA nod for inhalation product
NEW DELHI: Drug major Cipla on Wednesday said it has received final approval from the US health regulator for Arformoterol Tartrate Inhalation Solution, used to treat conditions like chronic bronchitis and emphysema, in the US market. The approved product is a generic version of Sunovion Pharmaceuticals Inc’s Brovana. The company has received final approval for […]
India’s second Covid-19 wave to impact infrastructure sectors, says Moody’s
NEW DELHI: India’s second coronavirus wave will affect its infrastructure sectors to varying degrees with power companies and ports better able to weather the impact of pandemic-induced disruptions compared with airports and toll roads, according to a new report by Moody’s Investors Service. Any further regional lockdowns will increase uncertainty over India’s economic recovery, said […]
Moody’s cuts India growth forecast for 2021 to 9.6% from 13.9% earlier
NEW DELHI: Moody’s Investors Service on Wednesday slashed India’s growth projection to 9.6 per cent for 2021 calendar year, from its earlier estimate of 13.9 per cent, and said faster vaccination progress will be paramount in restricting economic losses to June quarter. In its report titled ‘Macroeconomics India: Economic shocks from second COVID wave will […]
NCLT approves Jalan Kalrock Consortium”s resolution plan for Jet Airways
NEW DELHI: The National Company Law Tribunal (NCLT) on Tuesday approved the Jalan Kalrock Consortium”s resolution plan for the bankrupt-Jet Airways, two years after the once-storied airline went into insolvency proceedings. Financial distress forced Jet Airways, which flew for more than two decades, to suspend operations on April 17, 2019 and a consortium of lenders, […]
Airtel joins hands with Tata Group for ‘Made in India’ 5G
NEW DELHI: Bharti Airtel, India’s premier communications solutions provider and Tata Group, have announced a strategic partnership for implementing 5G networks solutions for India. Tata Group has developed a ‘state of the art’ O-RAN based Radio & NSA/SA Core and has integrated a totally indigenous telecom stack, leveraging the Group capabilities and that of its […]
India, Fiji sign MoU for cooperation in the field of agriculture and allied sectors
NEW DELHI: India’s Agriculture & Farmers Welfare Minister Narendra Singh Tomar and Fiji’s Minister of Agriculture, Waterways & Environment, Dr. Mahendra Reddy signed a Memorandum of Understanding (MoU) for cooperation in the field of Agriculture and allied sectors between India and Fiji in a virtual meeting held today. On this occasion, Tomar said that India […]
MoD signs contract with GSL for construction of two Pollution Control Vessels for Indian Coast Guard
NEW DELHI: Ministry of Defence (MoD) signed a contract with Goa Shipyard Ltd (GSL) for construction of two Pollution Control Vessels (PCVs) for Indian Coast Guard (ICG) at a cost of about Rs 583 crore, on June 22, 2021. These Special Role ships will be indigenously designed, developed and built by GSL. The acquisition is […]
Draft cabinet note floated for 100% FDI in oil PSUs approved for disinvestment: Sources
NEW DELHI: The commerce and industry ministry has floated a draft cabinet note seeking inter-ministerial views on a proposal to allow up to 100 per cent foreign investment under automatic route in oil and gas PSUs, which have an ‘in-principle’ approval for disinvestment, sources said. The move, if approved by the union cabinet, would facilitate […]
Kerala government seeks moratorium on repayment of loans
THIRUVANANTHAPURAM: The Kerala government has approached the Centre to put in place a moratorium on repayment of loans till December 31 in order to provide relief to individuals in the unorganised sector, MSMEs, agriculture and others adversely affected by COVID-19 pandemic and the subsequent lockdown. Kerala has sought a moratorium of loans without accrual of […]