BUSINESS
ED names Mehul Choksi's wife in charge sheet too
This is the second supplementary charge sheet which was filed before a special court in Mumbai against six including Choksi, his wife and their firms. Choksi, who is wanted in India by the Central Bureau of Investigation and the ED in Rs 13,500 crore Punjab National Bank (PNB) fraud case, had gone missing from the island nation on May 23, last year sparking a massive manhunt.
RIL's energy arm on track to deliver best quarterly results: Morgan Stanley
Petrochemical margins, despite lockdowns in China, are up quarter-on-quarter and trending towards mid-cycle, whereas profitability in upstream is at its best ever. "RIL's fuel refining margins are tracking at $17 per barrel. i.e., 2x above mid-cycle levels," it said. Globally, the firm expects a shortage of one refinery annually for the next few years.
Musk warns of killing Twitter deal over lack of user data transparency: Report
As per the letter, Musk considers Twitter's "latest offer to simply provide additional details regarding the company's own testing methodologies, whether through written materials or verbal explanations, (as) tantamount to refusing (his) data requests," requests that Musk said will help "facilitate his evaluation of spam and fake accounts on the company's platform".
RBI's monetary policy meet: Here's some of the expectations
In early May, the RBI, in a surprise off-cycle meeting, hiked the repo rate, the rate at which the central bank lends short-term funds to banks by 40 basis points (bps) to 4.40 per cent, amidst rising inflation concerns in the economy. In the same off-cycle meeting, the cash reserve ratio was hiked by 50 basis points to 4.5 per cent essentially to squeeze out some liquidity from the system.
Vedanta Aluminium's largest smelter reduces GHG emissions intensity by 12% in FY222
On World Environment Day, Vedanta Aluminium committed to reduce GHG emissions intensity by 25 per cent by 2030, over FY21 baseline, as part of its climate action endeavours. Historically, Vedanta Aluminium has reduced its GHG emissions intensity by 21 per cent in the 2012-21 period, while almost tripling its production in the same period. Vedanta Aluminium has deployed a multi-pronged approach for combating climate change.
RBI rubbishes reports of currency notes with faces of Tagore, Kalam
"There are reports in certain sections of the media that the Reserve Bank of India is considering changes to the existing currency and banknotes by replacing the face of Mahatma Gandhi with that of others," the central bank said in a statement on Monday. The statement added that there is no such proposal in the central bank.
Indices start fresh week marginally in red, RBI policy meet outcome in focus
The central bank raising policy rates in the meeting is a "no brainer" as said by its Governor Shaktikanta Das. The investors, however, await the actual degree of percentage hike before taking fresh positions in the markets. Investors also eye other macro economic forward looking guidance from the central bank.
High commodity prices continue to weigh on trade deficit, estimate for FY23 at $90bn: Acuite
Nevertheless, there is considerable uncertainty in projecting trade and current account deficit due to high volatility in commodity prices, which in the current environment is taking cues from unpredictable geopolitical events. "Given, the relentless rise in commodity prices particularly crude oil which has again risen to $120 per barrel, we project current account deficit (CAD) to widen to more than $90 billion (in FY23) from an estimated $47 billion in FY22.
Spicejet says 90 barred pilots to undergo re-training after DGCA slaps fine
The domestic aviation regulator had recently fined the carrier for training pilots on faulty simulators. The DGCA had barred 90 SpiceJet pilots from operating the Boeing 737 Max aircraft, and those pilots were subjected to retraining on 737 Max simulators. In a statement, DGCA Director-General Arun Kumar said: "For the moment, we have barred these pilots from flying Max and they have to retrain successfully for flying Max.
Cyient to acquire Portugal-based Celfinet to boost wireless communications offerings
Cyient will acquire Celfinet for 41 million euros, the company said in a statement. With this acquisition, Cyient will strengthen its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their pervasive connectivity networks at scale.
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