Depository of News

Four new unicorns push up VC inflows to a record $8 billion in 2018

The global VC investments stood at $254 billion in 2018, a massive jump from $174.6 billion in the previous year

ICICI Prudential Life Q3 net profit down 34% at Rs 297 crore

The net premium income of the company increased by around 15 percent to Rs 7,482.95 crore from Rs 6,795.13 crore in the year-ago period.

Google spends big on US lobbying amid antitrust, bias battles

Google said in a quarterly disclosure to Congress that it spent $4.9 million on lobbying activities during the fourth quarter, slightly above $4.4 million in the same period a year ago.

Japan exports post worst fall in two years as trade war bites

The trade data underscores rising external pressure on the world#39;s third largest economy and comes hours before the Bank of Japan delivers its policy decision at a two-day meeting ending later in the day.

Lodha Group to buy back $65-mn bond

The buyback will be a fifth of the overall outstanding of the 2020 bonds issued by the Mauritius-based Lodha Developers International an official statement said on Tuesday.

Despite election buzz, India to see strong hiring activity in 2019: Report

As Indian businesses focus their efforts on professionalising their operations, Michael Page India foresees increased demand for talent in business partnering functions such as human resources, finance and legal.

Maharashtra inks pact with USIBC to promote biz cooperation

The state is aiming to become a USD 1-trillion economy by 2025 and this partnership aims to support the state to achieve its industrial growth targets, a statement from the state government said.

Podcast | Digging Deeper - A tale of 2 countries: Where the rich get richer and poor trudge along

The world, it tells us, now has 2,208 billionaires — more than ever before — and these three-comma club members are growing richer by $2.5 billion each day.

Cyient to acquire remaining 26% stake in EDSM subsidiary

Mysuru-headquartered Cyient DLM, formerly Rangsons Electronics, is an electronics system design and manufacturing (EDSM) services company.

ICICI Prudential Life Insurance Q3 net profit down 34.4%

the company said that the net profit decreased primarily on account of higher new business strain resulting from the new business growth of protection and annuity business.

JNPT becomes India#39;s only port to be ranked among world#39;s top 30

«The JNPT, India#39;s premiere container port got listed amongst the top 30 container ports globally, as per the latest Lloyds Report. JNPT notched up five spots, to be 28th on the list, compared to its previous ranking,» the shipping ministry sai

ArcelorMittal hits back after Sajjan Jindal supports Ruia#39;s Essar Steel bid

The statement «sends a negative signal about the certainty of India as an investment destination,» an ArcelorMittal spokesperson said.

In a first, Max Life beats LIC in claims settlement

Max Life settled 98.26 percent of individual death claims, while LIC settled 98.04 percent in FY18.

Drug pricing regime: Pharma companies express relief, health activists miffed

Indian pharmaceutical industry was rattled by the decision of former NPPA chairman Bhupendra Singh, who used special powers conferred under Paragraph 19 of the Drug Price Control Order (DPCO) 2013, to slash prices of hundreds of drug formulations, which were

Jharkhand govt AAI to sign MoU for Dhalbhumgarh airport on January 24: DC

The signing of MoU will be followed by the ground-breaking ceremony to be performed by Jharkhand Chief Minister Raghubar Das, said Deputy Commissioner of East Singhbhum, Amit Kumar.

Govt must boost liquidity in realty sector; create Rs 2,000 cr fund for stalled projects: NAREDCO

On the GST, the association welcomed setting up of a group of ministers (GoM) to consider rationalisation of rate. It demanded that the GST should be brought down to 5 percent with input tax credit (ITC) for affordable housing from 8 percent, while for other

Jaypee Infratech bankruptcy: Lenders may extend deadline to submit revival plan by 15 days

State-owned NBCC, Kotak Investment, Singapore-based Cube Highways and Suraksha group have been shortlisted as bidders for Jaypee Infratech, which is undergoing insolvency proceedings in the National Company Law Tribunal (NCLT).

Paytm crosses 100 million travel ticket bookings milestone

The company said it has acquired a customer base of nearly 13 million as of January 2019. It further said it is aiming for a two-fold growth in travel ticketing volume in 2019-20.

Indian Oil to shut half of Panipat refinery from mid-February for a month

The refiner will shut a 150,000 bpd crude unit. It will also shut a sulfur recovery unit, hydrocracker, diesel hydrotreater, and coker among others for planned maintenance.

Reliance Nippon Life Asset Q3 net profit drops 17% to Rs 109 cr

In comparison, the company logged a net profit of Rs 132.01 crore in October-December 2017, RNAM said in a filing to stock exchanges.

HDFC Life Q3 profit rises 18% to Rs 246 cr

The private sector insurer#39;s profit stood at Rs 207.32 crore in the same quarter of 2017, HDFC Life said in a statement.

Why is SBI selling Essar Steel debt one day before a court decision on the resolution?

The fight between the Ruias and Mittals could mean that the bidding sees a price war – and thus, SBI could get more money.

Oil drops nearly 2% as China#39;s economic slowdown bites

The gloomy news from the world#39;s second-largest economy and top oil importer pulled down financial markets across Asia.

100-Word Take | Sugar output may go lower but mills root for higher prices

Lower sugar output may mean a tighter supply situation, but stocks from previous seasons and low international sugar prices could weigh on mills.

Nissan to drive in Leaf EV in India later this year

The company is also looking at other eco-friendly technologies such as its e-Power vehicles and hybrids for the country.

Tata Steel announces vision to combat growing housing crisis in UK

A white paper published on Monday in partnership with the Agile Ageing Alliance recommends a fundamental shift in the way housing development is considered in the UK.

Steel imports a serious threat, says Seshagiri Rao of JSW Steel

The change in trade balance threatens to dampen the environment for Indian steel makers, who are already facing a demand slowdown since November 2018.

TVS Motors: Decent Q3; valuation at elevated levels

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Havells Q3 earnings: Electric consumer durables see highest revenue growth

Cables was the largest standalone business segment in terms of revenue.

New broadcast pricing regime: 50% subscribers haven#39;t selected TV channels yet

Subscribers yet to choose their channels may get transferred to a basic free-to-air pack which has 100 standard-definition channels for Rs 130 per month.

TVS Motor to launch electric vehicle in FY20

The Chennai-based company has already showcased a few fully electric two and three-wheeler concepts at the Auto Expo

Aviation data: Sector grows over 18% YoY, IndiGo tops in market share

During 2018, IndiGo emerged with the highest market share of 41.5 percent followed by Jet Airways (13.8 percent), Air India (12.7 percent), SpiceJet (12.3 percent) and GoAir (9 percent)

Opinion | For Jet Airways to fly, Naresh Goyal must go

Failures of two major airlines in less than a decade ( Kingfisher in 2012), and now Jet at the brink of failure, will certainly make the entry of new players difficult, if not impossible.

Transcript| Bajaj Consumer Care Q3 FY 19 Earnings Conference Call

This is the verbatim transcript of Bajaj Consumer Care management call with analysts.

RBI should prioritise its capital needs first, then give excess to government: Raghuram Rajan

Rajan said the current process of giving dividends to the government is very arbitrary in nature.

ILFS crisis: Govt to seek special dispensation from Reserve Bank

Some companies of the diversified ILFS group, which has debt burden of over Rs 91,000 crore, have failed to repay loans. Following the crisis at ILFS late last year that raised concerns over liquidity in the system, the corporate affairs ministry had supersed

Britain#39;s Cairn says final drafting of arbitration award against retro tax in process

In an operational update, Cairn said it is seeking monetary compensation of USD 1.4 billion from the Indian government in the arbitration proceedings.

ILFS SPV fallout: Ratings of 6 MF schemes under scanner of ICRA; see if you are impacted

ICRA has downgraded Aditya Birla Sun Life Short Term Opportunities Fund to [ICRA]AAmfs from [ICRA]AA mfs and brought the ratings in line with five other schemes

WEF summit: Industry 4.0 presents huge opportunities for India, says DIPP Secy

Speaking at a session on the sidelines of the World Economic Forum annual meeting, Department of Industrial Policy and Promotion Secretary Ramesh Abhishek said efforts are being made at the central and state government level to provide necessary policy enable
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