BUSINESS
Covid resurgence unlikely to impact mid, large-sized construction firms
Most of these companies are focussed on non-urban infrastructure projects which are primarily located in remote areas, or at a distance from metros or large cities, it said. Besides, unlike the first wave, there is no nationwide lockdown and only localised lockdowns or restrictions with exemption for construction activities, it added.
Lockdown in various parts to impact vehicle demand temporarily: Tata Motors
The auto major also said it remains vigilant about the evolving Covid situation and has scaled up efforts to enhance the well-being of its personnel and their supporting ecosystem. "The lockdown enforced in various parts of the country is expected to impact vehicle demand temporarily. Hence, the company has set in motion a comprehensive 'Business Agility Plan' to protect and serve the interests of its customers, dealers and suppliers.
Apple pledges $430B, 20K new jobs in US over 5 years
Over the past three years, Apple's contributions in the US have significantly outpaced the company's original five-year goal of $350 billion set in 2018. Apple said it is now raising its level of commitment by 20 percent over the next five years, supporting American innovation and driving economic benefits in every state.
Xiaomi leads India smartphone market in Q1, Covid to hit Q2
Xiaomi once again led the India smartphone market with 26 per cent market share in Q1 2021, as total shipments grew 23 per cent (on-year) to reach over 38 million units in the January-March period, a new report said on Monday. The report cautioned that the second quarter is likely to be impacted owing to the lethal second Covid wave.
RBI caps tenure of bank MD and CEOs to 15 yrs
In a circular to all the commercial banks on Monday, the RBI said that the posts of Managing Director (MD) and Chief Executive Officer (CEO) or Whole Time Director (WTD) cannot be held for more than 15 years. Further, the MD and CEO or WTD who is also a promoter or a major shareholder, cannot hold these posts for more than 12 years.
More Covid survivors to opt for life cover, says HDFC Life CEO
Vibha Padalkar, MD and CEO of HDFC Life Insurance Company Ltd told the media that Covid-19 survivors are now coming for life insurance, more so post the raging second wave of the pandemic. The Covid situation has led to higher awareness around the need for protection and the inadequacy of the current insurance coverage, she said.
Vedanta says committed to supply 1,000 T oxygen, silent on modalities
The company, in a statement, said it is working with experts on how best to resolve the logistics of dispatching oxygen to critical areas in Tamil Nadu on priority and subsequently across the nation. However, the company declined to comment when IANS asked whether it has the compression and bottling plant at its copper smelter plant and about the purity level of the oxygen to be produced.
Apple ships record over 1 million iPhones in India in Q1 2021
As per early estimates from market intelligence firm CyberMedia Research (CMR), iPhone 11 and XR accounted for 67 per cent of Apple's shipments during the January-March period. On the back of increased domestic assembly, Apple iPhone 11 shipments increased 176 per cent (on-year) in the first quarter.
DGFT starts 'Covid Helpdesk' for int'l trade related issues
In this regard, the DGFT has operationalised a 'Covid-19 Helpdesk' to support and seek suitable resolutions to issues arising with respect to international trade. This helpdesk would look into the issues relating to the Department of Commerce/DGFT, import and export licensing issues, Customs clearance delays and complexities arising thereon, import/export documentation issues, banking matters etc.
SBI MF to launch SBI Nifty Next 50 Index Fund
The SBI Nifty Next 50 Index Fund NFO (New Fund Offer) will be launched from April 28 to May 11, 2021. The investment objective of the scheme is to provide returns that closely correspond to the total returns of the securities as represented by the underlying index, subject to tracking error, SBI Mutual Fund in a statement.
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