Beijing unlikely to approve ByteDance's TikTok deal with Oracle: Report
A deal China's ByteDance has struck with Oracle Corp and Walmart Inc over the future of its video-streaming app TikTok is unlikely to receive Chinese government approval, a state-backed Chinese newspaper said in an editorial.
China hikes prices of key drug ingredients
China has increased prices of key starting materials (KSMs), which are used for making medicines, by 10-20%, leaving those of basic raw materials — or active pharmaceutical ingredients (APIs) — largely unchanged. Both KSMs and APIs are imported in India for making life-saving antibiotics, steroids and other medicines.
Be aggressive on divesting, cutting rates: HUL CMD
India needs to become aggressive on disinvestments and lowering interest rates. This, combined with actions such as direct transfers to the needy and measures to revive demand through stimulus, would go on to help the country become a $10-trillion economy in 10-15 years.
SBI offers up to 2 years repayment relief for home & retail loans
State Bank of India will provide relief to home and retail loan borrowers impacted by Covid-19 in the form of either a moratorium of up to 24 months or by rescheduling instalments and extending the tenure by a period equivalent to the moratorium granted. The moratorium period can be extended by a maximum of 2 years, setting the tone for other banks, specially PSU players.
'India's imports from China dip 27.63% in Apr-Aug'
India's imports from China declined by 27.63 per cent during April-August this fiscal to $21.58 billion over the same period previous year, Parliament was informed on Monday. Value of imports from China stood at $4.98 billion in August and $5.58 in July, according to data provided by commerce and industry minister Piyush Goyal in his written reply to the Lok Sabha.
SBI launches portal for loan restructuring scheme
India's largest lender the State of Bank of India (SBI) on Monday launched an online portal for implementation of loan restructuring scheme to provide relief to its customers amid the ongoing Covid-19 pandemic. Retail borrowers can easily check their eligibility for restructuring of their loans through the portal.
CBI raids in Delhi, UP, Rajasthan, Haryana in Rs 1,400 crore bank fraud case
CBI carried out searches at eight locations in Delhi, Uttar Pradesh, Rajasthan and Haryana over alleged bank fraud to the tune of Rs 1,400 crore by a private company.A CBI spokesperson here said that the multiple agency team carried out searches in Delhi, Uttar Pradesh's Saharapur, Bulandshahr, Haryana's Palwal and Rajasthan's Ajmer on the premises of Delhi-based Kwality Ltd, Sanjay Dhingra, Siddhant Gupta, Arun Srivastava and other unknown persons.
Govt sets foodgrain output target at record 301 mn tonnes
The government has set foodgrain production target at a record 301 million tonnes for the 2020-21 crop year, up nearly 1.5 per cent from the previous year's output, on the back of good monsoon rains and higher acreage in the kharif season.