The Times Of India Business
Mukesh Ambani is again richest Asian person
India’s Mukesh Ambani is back to being the wealthiest person in Asia. Despite a brutal week for markets, his Reliance Industries Ltd was relatively unscathed as it said it would spin off its oil-to-chemicals business into an independent unit.
Scheduled international flight suspension extended
The government has extended suspension of scheduled international flights till March 31, 2021. However Vande Bharat Mission and scheduled flights under the travel bubbles India has so far created with 27 countries like US, Germany and France will continue and people eligible as per government norms can fly to and from India on them.
India's Q3 GDP growth at 0.4% as against -7.5% in September quarter
India's gross domestic product (GDP) for the third quarter (Q3) ended December 2020 stood at o.4 per cent, government data released on Friday showed. India posted de-growth of 23.9 per cent and 7.5 per cent in GDP in first and second quarters ended June and September 2020, respectively.
Sensex crashes 1,939 points: Key reasons behind the plunge
Equity indices fell sharply on Friday as a spike in global bond yields stirred up inflation worries and spooked investors across the world. The benchmark BSE sensex nosedived 1,939 points or 3.80 per cent to close at 49,100; while the broader NSE Nifty tanked 568 points or 3.76 per cent to close at 14,529.
'Twitter will make its practices more transparent'
Twitter has said that social media entities are facing a "significant trust deficit" and pledged to make its content moderation practices more transparent, giving people more control as it strives to be among the most open companies globally.
Xiaomi boosts India phone making capacity by 20%
Chinese electronics giant Xiaomi is expanding its India phone production capacity by 20% and is looking to make gains from the government’s production-linked incentive (PLI) scheme by sourcing devices from local contract manufacturers that may include companies such as Optiemus Infra and Dixon.
India likely to be Ikea’s top market for children’s range
India could become Ikea’s largest market for children’s products, including toys. While in most mature markets, the children’s range accounts for 6-8% of Ikea’s overall business, it could go up to 12% in India, said Kavitha Rao, country commercial manager at Ikea India.
Wipro employees had a role in Citi's big blunder
Two Wipro employees had a role to play in what has been described as one of Citibank's biggest blunders. The case involves one where Citibank acted as an administrative agent for a term loan taken by Revlon, and where it was to wire approximately $7.8 million in interest payments to Revlon’s lenders.
Sensex falls over 900 points in opening trade; Nifty below 14,850
Equity indices fell in opening trade on Friday with benchmark BSE sensex plunging over 900 points, as a spike in global bond yields sparked a sell-off in world equities. The 30-share BSE index dropped 905 points or 1.77 per cent to trade at 50,134; while the broader NSE Nifty was down 282 points or 1.87 per cent at 14,815.
HUL to be plastic waste-neutral this year
Hindustan Unilever (HUL) will achieve 100% plastic waste collection this calendar year. This means the FMCG giant will collect and process more plastic packaging waste than what it uses. In the process, HUL will become the first FMCG company of a large scale to achieve plastic waste neutrality.
'Reveal ‘originator’ of unlawful msg in 72 hrs'
Social media and global internet giants such as Facebook, WhatsApp, Twitter, Instagram and YouTube will not be able to withhold information on the source of unlawful and inflammatory messaging beyond 72 hours when asked by investigating and cybersecurity agencies, and will need to be more mindful and prompt to the requests of their subscribers, particularly women, on the removal of objectionable content.
No check-in bag? Prepare to fly cheap on flights
Flying within the country without any check-in baggage could soon get much cheaper. Light fares offered by airlines for passengers with only cabin baggage, before the two-month domestic flight suspension last March, could be lower by a maximum of Rs 200 from the lowest level check-in baggage inclusive fares.
After Rs 25 hike, LPG refill price up Rs 100 in Feb
Household cooking gas became costlier by Rs 25 on Thursday, marking the third increase this month, taking the total increase to Rs 100 per cylinder. The increase comes on a day benchmark Brent crude hit a 13-month high at $67.70 and global LPG (liquefied petroleum gas) has spiked on higher demand due to the recent cold wave that swept across the US and Europe.