Thursday, January 18, 2018

‘Business’ News

Bhushan Power’s liquidation value doubled to Rs 20,000 crore

Thursday, January 18, 2018 17:31

Independent experts Duff & Phelps and PricewaterhouseCoopers have revised the liquidation value of Bhushan Power & Steel upwards to Rs 20,000 crore, almost double their initial estimates, barely two weeks ahead of a deadline for submission of final bids for the bankrupt company, according to people briefed on the matter.The ...

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Torrent Pharma buys US firm Bio-Pharm

Thursday, January 18, 2018 17:28

Torrent Pharmaceuticals has acquired Bio-Pharm, a generic and overthe-counter drugmaker based in Levittown, Pennsylvania, for an undisclosed sum."This acquisition is an important step for increasing Torrent's presence in the United States, is consistent with our strategy of dosage form diversification, and provides us with new capabilities including manufacturing and R&D ...

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Duty recast may make imported high-end mobile phones costlier

Thursday, January 18, 2018 17:20

The budget is expected to give Make in India a boost through a customs duty rejig, but the move could make imported high-end mobile phones and electronic goods costlier. Basic customs duty may be imposed on components such as printed circuit boards, camera modules and displays that are allowed duty ...

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Tech Mahindra to pick up 17.5 per cent stake in Altiostar for $15 million

Thursday, January 18, 2018 16:16

NEW DELHI: IT company Tech Mahindra today announced it will acquire 17.5 per cent stake in US-based telecom software development company Altiostar Networks for USD 15 million in a cash deal.The investment committee of the board of directors of Tech Mahindra "has approved the proposal to acquire shareholding in Altiostar ...

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Modi will need at least $125 bn to fund his renewable energy dream

Thursday, January 18, 2018 14:51

India will need at least $125 billion to fund its ambitious plan to increase the share of renewable power supply in the country's grid by 2022, a top government official told Reuters, underlining the immense financing challenge ahead.The South Asian nation is one of the world's most important growth markets ...

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Spicejet sacks expat Turkish pilot for failing alcohol test

Thursday, January 18, 2018 14:32

Budget carrier SpiceJet has sent an expat pilot back to home after he allegedly failed in the mandatory pre-flight alcohol test.The pilot, a first officer, had been working for a Turkish carrier, which has wet-leased some of its aircraft to the Gurgaon-based airline, SpiceJet said."The first officer failed to meet ...

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GST rates slashed on 29 items, 53 services

GST rates slashed on 29 items, 53 services

Thursday, January 18, 2018 14:11

GST rates slashed on 29 items, 53 services

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Robotic Process Automation will generate nearly two lakh jobs in India by 2021

Thursday, January 18, 2018 13:47

Nearly two lakh Robotic Process Automation (RPA) led jobs are expected to be generated in the country by 2021, Daniel Dines, CEO and Co-Founder of UiPath, a Bangaluru-based software company, said today.India is in prime position to become a RPA powerhouse because of its growing talent pool and cost advantage, ...

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GST meet ends: Here are all the changes you should know

Thursday, January 18, 2018 13:37

The day-long 25th GST Council meet ended in Delhi. Among the key points picked up in the meet included the E-way bill, composite scheme and 3B return filing, which finance minister Arun Jaitely said would be continued for now. Here are the key points1. E-way bill system testing continues till ...

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Joint Venture firm to invest Rs 100 crore in entertainment sector in South India

Thursday, January 18, 2018 13:36

KOCHI: A joint venture of brand consultant and infrastructure firm is planning massive investment in the entertainment sector in South India. This includes production and distribution of films and setting up a series of multiplex screens in smaller cities and towns.Push Aeon Consortium formed by Push Motion Picture Company & ...

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