BUSINESS
SoftBank to sell $215 mn worth stake in Paytm as lock-in ends: Reports
CNBC-TV18 reported, citing sources, that the Japanese investor is offering to sell 29 million shares in the digital payments and financial services company at Rs 601.45 apiece. The move comes as Paytm's lock-in for pre-IPO investors ends later this week. At Rs 601, Paytm's shares are currently trading at least 70 per cent below its IPO price. According to reports, SoftBank invested some $1.6 billion in Paytm. It took out up to $250 million in the company's IPO in November last year.
Govt may seek more details on NRIs' foreign remittances
In addition to this, NRIs may also be directed to disclose their Indian business connections and could be further asked to elaborate on the nature and even the whereabouts of such businesses, reports quoting sources said. The Income Tax Department may also seek details in case of a person who received capital assets from the previous owner, and who was exempted from capital gains, the reports said.
Amazon confirms layoffs, employees say 'horrendous way to treat people'
The company did not reveal the exact number of employees being hit although earlier reports put the number at 10,000 employees or 3 per cent of its workforce. "As part of our annual operating planning review process, we always look at each of our businesses and what we believe we should change," a company spokesperson was quoted as saying TechCrunch late on Wednesday.
Demonetisation 'one of critical steps in series of transformational economic policy': Centre to Supreme Court
The Ministry of Finance, in an affidavit, said: "The withdrawal of legal tender character of a significant portion of total currency value was a well-considered decision. It was taken after extensive consultation with the RBI and advance preparations". It further added that demonetisation was also a part of larger strategy for combating the menace of fake money, terror financing, black money and tax evasion.
CIL chief stresses on augmenting mining sector's contribution in GDP
"The importance of the mining sector lies in the crucial sectors it is catering to. Hence the role of the sector in boosting the economic growth of the country cannot be undermined and hence the sector's contribution in GDP should be pushed to 2.5 per cent. For that the prime necessity is to reduce the high rate of imports in the sector," Pramod Agarwal stated.
No anxiety over proposed cap on Russian crude by West, says Hardeep Puri
Hardeep Puri, who was interacting with the media on the sidelines of a function commemorating the World LPG Week, in response to a question on Russian oil company Gazprom not supplying liquified natural gas to GAIL, said that this discussion has been going on between GAIL and Gazprom.
Indian banking sector resilient, yet should keep eye on macroeconomic situation: RBI Governor
At the same time though, Governor Shaktikanta Das asked public as well as private sector banks to remain watchful of the evolving macroeconomic situation and take necessary mitigating measures to minimise their impact on balance sheets and contain financial stability risks.
Developed nations backtracking on climate damage fund: Small island states at COP27
The inaction of many developed countries has the potential to stall talks and deal a devastating blow to the hopes of the developing world for the establishment of a loss and damage funding facility at COP27. "We have come too far to fail on loss and damage finance. Three quarters of humanity is relying on a favourable outcome at COP27," said the AOSIS Chair and minister Molwyn Joseph of Antigua and Barbuda.
Wearing masks not mandatory anymore in flights in India
The Ministry of Civil Aviation said that the decision has been taken following a review meeting on the issue with the Ministry of Health. "The matter, regarding the requirement for mandatory use of masks or face covers during air travel, has been reviewed in consultation with the Ministry of Health & Family Welfare.
Manish Sisodia's close aide Dinesh Arora turns approver in Delhi liquor scam case
A Delhi court on Wednesday allowed the move of the Central Bureau of Investigation (CBI)'s move to make him an approver in the matter. The CBI had sought permission from the court to make Dinesh Arora an approver in the case. Arora is currently on anticipatory bail. The CBI didn't oppose his bail plea.
Don't Miss
Advertisement