TIIL in ₹700-crore pact to buy CG Power stake

To get up to 56.6% via shares, warrants Tube Investments of India Ltd. (TIIL), a Murugappa Group firm, has entered into a securities subscription agreement to bail out debt-ridden CG Power and Industrial Solutions Ltd. On Friday, the board of TIIL approved the proposal for making a binding bid for acquiring controlling interest in CG Power through a combination of […]

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Taking on SpaceX, Amazon to invest $10 bln in satellite broadband plan

The project will also benefit wireless carriers deploying 5G and other wireless service to new regions Amazon.com Inc. said on Thursday it will invest more than $10 billion to build a network of 3,236 satellites that will provide high-speed broadband internet services to people around the world who lack such access. The announcement follows the Federal Communications Commission’s approval of […]

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More cover against misfortune

Optional riders and add-ons are important to ensure you derive the full benefit of an insurance policy. Choosing the right insurance plan is one of the most crucial decisions one needs to make in life. You must take time and explore well before buying a term life policy and a health insurance plan as it is very important to opt […]

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Biocon Biologics, Voluntis in pact for digital therapeutics for diabetics

Insulia provides automated insulin dose recommendations enabling people with diabetes to self-manage their condition and healthcare teams to remotely monitor progress. Biocon Biologics India, a biosimilars company and subsidiary of Biocon Ltd., and Voluntis, a player in digital therapeutics, on July 21 entered into a global agreement to collaborate between Biocon Sdn. Bhd., the Malaysian subsidiary of Biocon Biologics and […]

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Chevron nears $5 billion takeover of Noble Energy

Oil sector’s CapEx will be down as much as 50%: Robert Kaplan Federal Reserve Bank of Dallas president and CEO Robert Kaplan says many CEOs are taking a wait-and-see approach to the energy sector. Chevron Corp. is close to a deal to buy Noble Energy Inc. for about $5 billion, in what would be the largest oil-patch tie-up since the […]

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Sanitizers are disinfectants like soaps, dettol; will attract 18% GST: Finance Ministry

Finance Ministry said various chemicals, packing materials and input services, among others, used for manufacturing hand sanitizers also attract a GST rate of 18% The government on Wednesday said sanitizers are disinfectants like soaps, anti-bacterial liquids, dettol, among others, which attract 18% duty under the GST regime. In a statement, the Finance Ministry said various chemicals, packing materials and input […]

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Wipro to focus on profitability, growth, as Q1 net remains flat

Big agenda would be ‘obsessive growth,’ says CEO Delaporte; hiring to continue Wipro’s new CEO Thierry Delaporte said the IT services major will focus on both growth and profitability ‘as there was no choice.’ His comments came in the backdrop of the company reporting an almost unchanged consolidated net profit of ₹2,412 crore crore for the first quarter of FY21. […]

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Cognizant’s India chief Ramkumar Ramamoorthy resigns

To get into education, reskilling space Ramkumar Ramamoorthy, Chairman and Managing Director, Cognizant India has resigned after 23 years with the company. “Ramkumar… has decided to retire from Cognizant, effective July 17, 2020,” CEO Brian Humphries said in a note to employees. The technology major has also replaced its head of global delivery Pradeep Shilige with Andy Stafford who has […]

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IT firms seek nod to retain some work-from-home relaxations

Nasscom writes to STPI, under which 4,300 units operate IT companies have approached the Information Technology Ministry to allow certain relaxations on work-from-home to continue on a permanent basis, as the industry moves to a blended working model in the post-COVID-19 era. Nasscom has written to an inter-ministerial committee under the IT Ministry that is looking into the matter, the […]

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