HAL signs contract for export of ALH to Mauritius
NEW DELHI: In-line with government of India’s vision to boost defence exports to friendly foreign countries, Hindustan Aeronautics Limited (HAL) has signed a contract with Govt. of Mauritius (GoM) for export of one Advanced Light Helicopter (ALH Mk III) for Mauritius Police Force. The government of Mauritius already operates HAL built ALH and Do-228 aircraft. […]
Microsoft to acquire Activision Blizzard
NEW DELHI: With three billion people actively playing games today, and fueled by a new generation steeped in the joys of interactive entertainment, gaming is now the largest and fastest-growing form of entertainment. Microsoft Corp. has announced plans to acquire Activision Blizzard Inc., a leader in game development and interactive entertainment content publisher. This acquisition […]
Jio pays Rs 30,791 crore to clear bulk of spectrum dues
NEW DELHI: Mukesh Ambani-led Reliance Jio Infocomm Ltd (RJIL), has announced that it has paid Rs.30,791 crore (including accrued interest) to the Department of Telecom (DoT) towards prepayment of the entire deferred liabilities pertaining to spectrum acquired in auctions of year 2014, 2015, 2016 and the spectrum acquired in year 2021 through trading of right […]
Delhi govt to deploy 1500 e-buses under DTC
NEW DELHI: The Delhi government will soon deploy 1,500 electric buses under the Delhi Transport Corporation(DTC) as it aims at 100 per cent electrification of public transport fleet, minister Kailash Gahlot said on Thursday. Earlier in the day, Central government agency Convergence Energy Services Ltd (CESL) launched the biggest ever tender worth about Rs 5,500 […]
FDI flows to India slip 26 pc in 2021: UN report
UNITED NATIONS: Foreign Direct Investment (FDI) flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said. The UN Conference on Trade and Development (UNCTAD) Investment Trends Monitor published on Wednesday said global foreign direct investment flows showed a […]
Maker Village signs MoU with Cochin Shipyard Ltd
KOCHI: Maker Village, one of the largest electronic hardware incubators in the country, has signed a memorandum of understanding with Cochin Shipyard Ltd (CSL) for the development of indigenised technology and related aspects in the marine engineering sector. The MoU was signed here by Deepu Surendran, General Manager of CSL, and Nizam Mohammed, CEO of […]
Economy needs nursing; Budget shouldn’t focus on fiscal consolidation: SBI
NEW DELHI: House economists at the nation’s largest lender State Bank of India (SBI) have urged the government to budget for nursing the pandemic-ravaged economy and not to focus too much on fiscal consolidation as there is a need for more stabilisation measures to sustain the fledgling recovery. And one of the best way to […]
Brilloca to acquire building products manufacturing biz of HSIL for Rs 630 crore
NEW DELHI: Brilloca, a wholly-owned subsidiary of Somany Home Innovation Ltd (SHIL), on Saturday said it will acquire building products manufacturing business of HSIL Ltd in a slump sale for a cash consideration of Rs 630 crore. Currently engaged in marketing and distribution of building products such as sanitaryware, faucets, plastic pipes and fittings, Brilloca […]
SPAG Welcomes Government’s move to declare National Startup Day
New Delhi: The declaration of National Startup Day by Prime Minister Narendra Modi comes as a big boost to the ever-growing startup industry in India. PR & Advocacy firm, SPAG, works closely with startups, and welcomes this move as it will add tremendously to the existing growth trajectory of the sector. Already pegged to be […]
IOC to invest Rs 7,000 crore in city gas after it secures 33% market areas
NEW DELHI: Indian Oil Corporation (IOC), the nation’s largest oil firm, on Sunday said it will invest over Rs 7,000 crore in setting up city gas distribution networks in the cities for which it has secured a licence in the latest bidding round. IOC secured 33 per cent of the demand potential that was up […]
Annual investments into startups increase to $36 billion: DPIIT Secretary
NEW DELHI: Investors are taking huge interest in the country’s startup ecosystem and in the last one year, annual fundings into startups have increased from USD 11 billion to USD 36 billion, a top government official said on Saturday. Anurag Jain, Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), said the […]
ED attaches assets worth Rs 380 crore of Sachin Joshi in PMLA case
NEW DELHI: The Enforcement Directorate (ED) on Saturday said that they have attached properties worth Rs 380 crore of a company belonging to Sachin Joshi under Prevention of Money Laundering Act (PMLA). The ED said that they attached two properties out of which one is in Worli and second is in Pune. Initially, a case […]
Prime Minister of India interacts with Startups
NEW DELHI: The Prime Minister Narendra Modi interacted with Startups today via video conferencing. The Startups gave presentations to the Prime Minister on six themes viz. Growing from Roots; Nudging the DNA; From Local to Global; Technology of Future; Building Champions in Manufacturing; and Sustainable Development. More than 150 startups were divided into six working groups […]
Budget session of Indian Parliament to commence from January 31 To April 8
NEW DELHI: The Budget Session of Indian Parliament will commence on January 31 with the address of the president to both the Houses, and conclude on April 8, sources said on Friday citing recommendation of the Cabinet Committee on Parliamentary Affairs. The Union Budget will be presented on February 1. The Economic Survey is likely […]
Megha Engineering, Adani Total Gas top winners of city gas distribution licences
NEW DELHI: Megha Engineering and Infrastructures Ltd (MEIL) walked away with the most 15 licences to retail CNG to automobiles and piped cooking gas to households in the latest city gas bidding round, while a joint venture of billionaire Gautam Adani’s gas arm and Total of France got 14 licences. According to the results of […]
Reliance Industries to invest Rs 6 lakh crore in green energy, other projects in Gujarat
NEW DELHI: Billionaire Mukesh Ambani-led Reliance Industries will invest Rs 5.95 lakh crore in green energy and other projects in Gujarat over the next 10-15 years as it looks to accelerate the clean energy business by building giga-factories. The oil-to-telecom conglomerate will invest Rs 5 lakh crore in the state to set up 100 gigawatts […]