BUSINESS
Aluminium industry seeks duty protection in Budget to check dumping
In a set of pre-budget recommendations, the industry, represented by the Aluminium Association of India (AAI), has said that the challenges coming from rising imports, declining domestic market share, and increasing production and logistics costs need to be mitigated soon and in this regard, it is essential that the aluminium sector gets duty protection on imports of finished products and relief in case of raw materials.
Cognizant to acquire US-based software firm Magenic
This is Cognizant's third acquisition in January this year, as the company continues to expand in key strategic focus areas. The new acquisition will expand Cognizant's software product engineering footprint, adding 475 employees in the US. across seven locations and more than 350 employees in Manila, Philippines.
Delayed bid cannot be considered under IBC even if better: NCLAT
The judgement was made in a plea by Kalinga Allied Industries India. Kalinga had submitted a resolution plan in time. After several rounds of deliberations by the Committee of Creditors (CoC), a revised resolution plan was submitted by the company on December 19, 2018. The same was approved by the COC by requisite majority in the 13th meeting on December 28, 2018.
Dogfight: Airlines unleash deep discounts to dominate the sky
The first shot in this war of extremely low prices was fired recently with most airlines commencing their sales offers. The development comes around a year since Covid-19 lockdown devastated the sector. Industry insiders, however, now believe that the roll-out of anti-Covid-19 vaccination programme will give a boost to air travel.
Share Market: Sensex jumps 800 points; RIL, HDFC shares surge
The across the board rise was led by healthy buying activity in auto, finance, capital goods and oil and gas stocks. Surge in the index-heavyweights Reliance Industries (RIL) and HDFC led the rise on Sensex, which closed at 49,398.29, higher by 834.02 points, or 1.72 per cent, from its previous close of 48,564.27. It touched an intra-day high of 49,499.86 points.
Dunzo raises Rs 293 crores in Series E from Google, Lightbox
Bengaluru-based Dunzo said that with a gross merchandise value (GMV) growth of 2X over the past year, the platform is now about $100 million annualised GMV business. Over the past six months, the platform has supported over 300 neighbourhoods across eight cities, and has delivered essential goods to users within 29 minutes.
2nd edition of India Innovation Index to be launched on Wednesday
The release of the second edition of the index demonstrates the government's continued commitment towards transforming the country into an innovation-driven economy. The index also seeks to empower the states and UTs to improve their innovation polices by highlighting their strengths and weaknesses. The ranking methodology is designed in a way that states can draw lessons from the national leaders in innovation.
Asia Pacific Big Data Analytics solutions revenue grows 12%: IDC
This is mainly due to decision-makers increasing confidence that investments in data and analytics will be necessary for achieving digital and business resiliency amid the pandemic, according to the IDC Worldwide Big Data and Analytics Spending Guide forecasts.
ISRO to board merchandise market with its assets
According to ISRO, specific samples of identifiers shall be catalogued and made available on its website. Parties/agencies interested in creating ISRO-themed merchandise items can make use of these resources after registration.
IMF chief sees 'high degree of uncertainty' in global outlook
Georgieva said the IMF had rapidly increased concessional financing to emerging market and developing economies, including through donations by member countries of some $20 billion in existing SDRs. That would continue to play an important role, but further steps were needed.
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