BUSINESS
Monsoon 2021 expected to rescue India's agriculture in FY22
According to the report, the arrival of the new kharif output in the market, along with a cut in the import duties for edible oils, will help in keeping food inflation benign. However, the agency expects the retail prices of edible oils to stay elevated as nearly 56 per cent of the domestic demand is met by imports. "Thus, Ind-Ra expects the average retail inflation for 2021-22 to remain under 6 per cent," the report said.
Pakistan fails to convince IMF for resuming $6bn extended loan facility
The high level delegation, led by the then Finance Minister and current advisor to the Prime Minister on finance Shaukat Tarin, Finance Secretary Yousaf Khan, State Bank Governor Raza Baqir and other senior officials, had detailed deliberations with the IMF. However, the economic reform proposal and plan, which the delegation tabled in front of the IMF, did not convince them to resume the Extended Fund Facility (EFF).
HDFC Life closes first half with lower PAT of Rs 577 cr
She also said the company is in discussions with re-insurers on rate revision and a decision on it is expected to happen by the end of this year. The process of merging Exide Life Insurance is progressing well, she added. Announcing the financial results, Padalkar said the company posted a lower net profit owing to increased provisioning against claims.
RIL's Q2FY22 YoY net profit jumps 46% to Rs 15,479 cr
The net profit, on a YoY basis, rose to Rs 15,479 crore. In a regulatory filing, the company reported that its consolidated gross revenue for the quarter rose to Rs 191,532 crore, higher by 49.2 per cent. Besides, the consolidated EBITDA for the quarter rose by 30 per cent to Rs 3 0,283 crore.
SEBI streamlines grievance redressal system, to benefit clients
In an amendment to its Investor Grievance Redressal System, the market regulator has now mandated that clients getting favourable orders would get 50 per cent of the admissible claim value or Rs 2 lakh, whichever is less, even if the members take the matter to arbitration.
Global labour union urges EU to widen antitrust probe against Amazon
A Reuters report said on Friday that UNI Global Union has shot off a letter to the European Commission, demanding to widen their antitrust investigation of Amazon. "As further revelations of the scale of Amazon's operations to undermine that level playing field surface, further action is needed to ensure it is held accountable at every turn," according to the letter seen by Reuters.
US reaches interim deal with 5 nations on digital services tax
The OECD announced in July that over 130 countries and jurisdictions have joined a two-pillar framework to reform international corporate taxation rules, which has recently been endorsed by G20 financial leaders, Xinhua news agency reported on Friday. In return, the US will terminate the currently-suspended additional duties on goods of the five countries that had been adopted in the DST Section 301 investigations.
Winging abroad: AirAsia India expected to soon get international flying permit
At present, only Vistara operates on international routes. The development assumes significance since Tata Sons' subsidiary Talace is expected to soon acquire Air India and Air India Express after conclusion of the share purchase agreement (SPA) with the Centre. Both Air India and Air India Express operate international flights.
Amid pandemic, renewable jobs globally reached 12 mn: IRENA
The report was released by the International Renewable Energy Agency (IRENA) in collaboration with the International Labour Organisation (ILO) at a high-level opening of IRENA's collaborative framework on Just and Inclusive Transitions, co-facilitated by the US and South Africa.
Paytm may directly head for IPO without a Pre-IPO to fast-track listing
The sources told IANS that the company didn't want to add additional steps to the IPO and is mostly directly headed for the market listing. However, the company's plans of shelving the Pre-IPO raise, which isn't yet confirmed, is not related to any valuation differences, said multiple sources aware of the developments.
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