BUSINESS
Centre revises threshold for paid up capital of small companies
The government has taken several measures in the recent past towards ease of doing business and ease of living for the corporations. These included decriminalisation of various provisions of the Companies Act, 2013 & the LLP Act, 2008, extending fast track mergers to startups, incentivising incorporation of One Person Companies (OPCs), etc.
SBI says it's not a nodal bank for Russia-related transactions
The country's largest lender, State Bank of India (SBI) on Thursday clarified that it has not been identified as a nodal bank for handling Russia-related transactions. The clarification by the bank came in response to reports in certain sections of media that it had been identified as nodal bank for looking after Russia-related transactions.
Adobe acquires design software firm Figma for $20 bn
Founded by Dylan Field and Evan Wallace in 2012, Figma pioneered product design on the web. The combination of Adobe and Figma will usher in a new era of collaborative creativity. "Adobe's greatness has been rooted in our ability to create new categories and deliver cutting-edge technologies through organic innovation and inorganic acquisitions," said Shantanu Narayen, Chairman and CEO, Adobe.
Shares of two Tata group companies on the upswing
The two are non-banking finance company Tata Investment Corporation Ltd and material handling equipment manufacturer TRF Ltd. Tata Investment is an investment company promoted by Tata Sons and other group companies. During the first week of June, the Tata Investment scrip was in the Rs 1,340-Rs 1,470 band and on the upward route. And on Thursday, the scrip closed at Rs 2,886.50.
President Putin predicts record trade with China
Last month, Beijing's ambassador to Moscow expressed hope that Russia-China trade could reach the targeted milestone of $200 billion this year. He pointed out that economic cooperation between the two nations shows excellent results and sustainable development, despite the challenges associated with the Covid-19 pandemic, the global economic downturn, and difficult international and regional situations.
5G service to be rolled out in Odisha in first phase: Ashwini Vaishnaw
Interacting with reporters in Puri, Ashwini Vaishnaw said that Odisha will get 5G service in the very first phase. Asked about any impact of the 5G radiation on human beings, he said: "The amount of radiation it will give forth is 10 times less than the radiation norms set by the World Health Organisation (WHO). So, no one should worry about it."
BYJU'S have to pay Rs 2,000 cr to clear Aakash acquisition deal on Sep 23
According to BYJU's financial report FY21, "as per the terms of the agreement for acquisition of Aakash Educational Services, consideration to the extent of Rs 1,983 crore was due to be paid by the company to the sellers in June, 2022. This has been deferred to September 23, 2022".
India records 131 deals worth $4.1 bn in August, big investments disappear
Mergers & Acquisitions (M&A) deals recorded 21 deals valued at $1.5 billion while deal volumes saw significant downtrend, according to Grant Thornton Bharat's 'Dealtracker Report August 2022.'
Oracle Cloud biz sees 100% growth in India, doubles customer base
In India, the OCI is growing at 25 per cent quarter on quarter (QoQ) and the company has clocked double-digit growth across all lines of businesses, in some even triple digit, Kapil Makhija, Vice President - Technology Cloud Business, Oracle India, told IANS.
Equities end down on sell-off in IT, pharma stocks
At the close, Sensex ended 412.96 points, or 0.68 per cent, down at 59,934.01, and Nifty closed 126.35 points, or 0.70 per cent, down at 17,877.40. Nifty IT index closed 1.43 per cent down and BSE IT index ended 1.63 per cent lower, whereas, Nifty Pharma and BSE Cons Durables closed 1.29 per cent and 0.76 per cent, respectively, down.
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