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The CEO of Zoho Corporation Sridhar Vembu on Tuesday shared pictures of his encounter with a 12-feet-long King Cobra. "Our awesome local forest rangers arrived and caught it for release in the nearby hills," said Vembu, adding, "(It was) a very auspicious day!" One of the pictures shows forest rangers and Vembu holding the reptile.
short by Sakshita Khosla / 09:52 pm on 21 Sep
Amid a row over UK's rules mandating fully vaccinated Indians to undergo quarantine, Covishield maker SII's CEO Adar Poonawalla called for "harmonising vaccine certification" on priority. Poonawalla added that he was "shocked why countries are unable to come together on one regulatory quality standard for (COVID-19) vaccine trials and travel passports". India called UK's rules "discriminatory".
short by Sakshita Khosla / 07:47 pm on 21 Sep
The Indian government will not buy COVID-19 shots from Pfizer and Moderna, Reuters reported on Tuesday citing three government sources. "This is mainly because the domestic output of more affordable and easier-to-store vaccines has jumped," the report added. The government also declined to meet the US companies' requests for legal protection over any side-effects from its shots, the report added.
short by Pragya Swastik / 08:32 pm on 21 Sep
Google plans to buy New York City office building for $2.1 billion
short by Hiral Goyal / on 21 Sep 2021,Tuesday
Google on Tuesday announced that it intends to buy a New York City office building for $2.1 billion. The deal is the most expensive sale of a single US office building since the start of COVID-19 pandemic and one of priciest in US history, the WSJ said. Google is currently leasing the building and expects to open it by mid-2023.
short by Hiral Goyal / 08:02 pm on 21 Sep
Amazon clarified that for the year ended March 31, 2020, the legal fee it paid was ₹52 crore from the total legal and professional expenses of ₹1,967 crore. Amazon's clarification came after a report said Amazon allegedly paid ₹8,456 crore as legal expenses to maintain its presence in India during 2018-20. Amazon is reportedly investigating allegations of bribing Indian officials.
short by Pragya Swastik / 10:48 pm on 21 Sep
Zee Entertainment to merge with Sony India; Sony to invest $1.57 billion
short by Apaar Sharma / on 22 Sep 2021,Wednesday
The Zee Entertainment Enterprises Ltd on Wednesday said its board has given in-principle approval for its merger with Sony Pictures Networks India (SPNI). As part of the merger, Sony will invest $1.57 billion and will be the majority shareholder with 52.93% stake while ZEEL shareholders will hold 47.07% stake. Punit Goenka will be the MD and CEO of merged entity.
short by Apaar Sharma / 09:50 am on 22 Sep
The Enforcement Directorate (ED) has initiated a money laundering probe into the seizure of 3,000 kg heroin from Afghanistan estimated to be worth ₹21,000 crore from Gujarat's Mundra Port, reports said on Tuesday. ED is reportedly studying details of the case related to what's being touted as the single largest heroin seizure in India, and proceeding as per PMLA provisions.
short by Sakshita Khosla / 10:37 pm on 21 Sep
Adani Group on Tuesday said its "role is limited to running the port" after 3,000 kilograms of heroin from Afghanistan, worth around ₹20,000 crore, was seized at Gujarat's Mundra Port. Adani Ports and Special Economic Zone Ltd operates the port. "We have no policing authority over the containers or millions of tonnes of cargo that pass through Mundra," Adani added.
short by Pragya Swastik / 10:15 pm on 21 Sep
Chinese real estate developer and wealth management company Evergrande Group, which became one of China's biggest companies by borrowing over $300 billion, is struggling to meet the interest payments on its debts. The company has started to repay investors with properties as it struggles to find cash. It reportedly owes money to 171 banks and 121 other financial firms.
short by Pragya Swastik / 04:45 pm on 21 Sep
Adani Group to invest $20 billion in renewable energy in next 10 yrs
short by Krishna Raj / on 21 Sep 2021,Tuesday
Adani Group will invest $20 billion over the next 10 years in renewable energy generation, component manufacturing, transmission and distribution, Chairman Gautam Adani said. The firm will also produce the world's cheapest green electron, he added. The group plans to triple its renewable power generation capacity over next four years and foray into green hydrogen production, Adani said.
short by Krishna Raj / 07:05 pm on 21 Sep
Real estate developer Evergrande Group, one of China's biggest companies facing a crisis over its $300 billion debt, had wooed investors with gifts such as Dyson air purifiers and Gucci bags. "I bought from the property managers after seeing the ad in the elevator, as I trusted Evergrande for being a Fortune Global 500 company," an Evergrande property owner said.
short by Pragya Swastik / 07:45 pm on 21 Sep
Swiss gold exports to India surge to 5-month high in August
short by Krishna Raj / on 21 Sep 2021,Tuesday
Switzerland's gold exports to India jumped to a five-month high in August, Swiss customs data showed on Tuesday. During the month, total Swiss gold exports stood at 1,16,442 kg, out of which 70,294 kg was exported to India. India and China are the world's largest consumers of gold, while Switzerland is the largest gold refining centre and transit hub.
short by Krishna Raj / 09:57 pm on 21 Sep
Wipro's Founder Chairman Azim Premji has said that his grandfather started with just ₹2 per week as a businessman and became a really successful businessman in rice trading. He added, "But (it was) on one simple principle – he was honest." The remarks were made by Premji in a video to mark 75 years of IT major Wipro.
short by Pragya Swastik / 05:30 pm on 21 Sep
Kotak Mahindra Bank's billionaire MD Uday Kotak on Tuesday said that the crisis surrounding debt-laden Chinese property giant "Evergrande seems like China's Lehman moment" and reminds of IL&FS' collapse in India. He added that Indian government had "acted swiftly and provided calm to financial markets". On Monday, concerns over Evergrande's potential collapse sparked a sell-off in global markets.
short by Kiran Khatri / 04:27 pm on 21 Sep
The share price of NDTV touched a 52-week high of ₹87.60 and locked in a 10% upper circuit on September 21. This comes despite the company clarifying on a news report about a potential buyout by Adani Group. "The Founder-Promoters of NDTV are not in discussions now, nor have been, with any entity for a change in ownership," NDTV clarified.
short by Pragya Swastik / 05:49 pm on 21 Sep
Jeff Bezos pledges $1 bn from Earth Fund to conservation efforts
short by Hiral Goyal / on 21 Sep 2021,Tuesday
World's second-richest person and Amazon Founder Jeff Bezos has pledged to give away $1 billion in grants this year with a focus on conservation efforts. The pledge is part of the Bezos Earth Fund, which commits $10 billion to fight climate change. The grants will be used to "create, expand, manage and monitor protected and conserved areas," a statement said.
short by Hiral Goyal / 05:14 pm on 21 Sep
Amazon lobbying US govt to legalise marijuana at federal level
short by Hiral Goyal / on 21 Sep 2021,Tuesday
Amazon is expanding efforts to push the US government to legalise marijuana. It said that it is supporting the Cannabis Administration and Opportunity Act which aims to remove cannabis from federal list of controlled substances. "We also reinstated the employment eligibility for former employees and applicants who were previously terminated or deferred during...marijuana screenings," Amazon added.
short by Hiral Goyal / 11:18 pm on 21 Sep
Hundreds of workers protested outside a Ford factory in Sanand, Gujarat against the firm's planned plant closure. The workers said that the plant's closure planned for the year-end would lead to the loss of their livelihoods. "After working here for seven years, I'm suddenly being told I don't have a job. What is my future?" asked one of the workers.
short by Krishna Raj / 09:52 pm on 21 Sep
Union Road Transport and Highways Minister Nitin Gadkari has said that Chinese companies have not made investments in highway projects in India in recent times. In July 2020, Gadkari had said that India won't allow Chinese firms to participate in highway projects, including those through joint ventures. He also said India will have to increase its exports and reduce imports.
short by Krishna Raj / 05:52 pm on 21 Sep
Income Tax Department has seized "incriminating evidence" that shows alleged financial irregularities of ₹700 crore after it raided a West Bengal-based steel products manufacturing group, CBDT said. Evidences gathered pertain to generation of "unaccounted income" by the group by way of unaccounted cash sales, purchase from bogus parties, among other ways. The raids were carried out at 25 premises.
short by Krishna Raj / 05:00 pm on 21 Sep
Retail depositors are earning negative returns on their bank deposits, economists at the SBI have said. There is a need for reviewing taxes on the interest earned, they added. Taxation review should be carried out for at least the deposits made by senior citizens who depend on the interest for their daily needs, the economists further said.
short by Krishna Raj / 10:45 pm on 21 Sep
Confident bad bank will work because its driven by banks: FM
short by Krishna Raj / on 21 Sep 2021,Tuesday
Finance minister Nirmala Sitharaman has said she was confident the bad bank or National Asset Reconstruction Company (NARCL) will work because the mechanism is driven by banks. Last week, she announced a government guarantee of up to ₹30,600 crore for security receipts which will be issued by NARCL. It will be issued when NARCL takes over stressed assets from banks.
short by Krishna Raj / 10:47 pm on 21 Sep
BSE adds 1 crore investor accounts in 107 days to cross 8-crore mark
short by Krishna Raj / on 21 Sep 2021,Tuesday
The Bombay Stock Exchange (BSE) has added 1 crore registered investor accounts between June 6 and September 21, taking the total to over 8 crore in 107 days. BSE MD and CEO Ashishkumar Chauhan said equity investments are gaining ground over last one-and-a-half years due to many reasons globally. The domestic market is also following this world trend, he added.
short by Krishna Raj / 08:23 pm on 21 Sep
Paras Defence IPO subscribed 16.57 times on day 1
short by Krishna Raj / on 21 Sep 2021,Tuesday
The initial public offer (IPO) of Paras Defence and Space Technologies was subscribed 16.57 times on the first day of subscription. It received bids for 11.82 crore equity shares against the offer size of 71.40 lakh equity shares, data on the exchanges showed. Retail investors put in bids 31.36 times their reserved portion, while non-institutional investors subscribed 3.77 times.
short by Krishna Raj / 06:36 pm on 21 Sep
Carlyle arm sells 3.4% stake in SBI Cards for ₹3,267 crore
short by Krishna Raj / on 21 Sep 2021,Tuesday
US private equity fund CA Rover Holdings, part of the Carlyle Group, has sold a 3.4% stake in SBI Cards for $443 million (around ₹3,267 crore) through open market transactions on Tuesday. With the transaction, CA Rover sold 12.75% stake in SBI Cards since March 2021. Meanwhile, Societe Generale acquired over 85.06 lakh shares of SBI Cards at ₹1,021 apiece.
short by Krishna Raj / 11:01 pm on 21 Sep
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