Miscellaneous Laws/News
Monsanto, PepsiCo interested in setting up units in Maha: CM
A
day after announcing that Maharashtra had received investment proposals
worth Rs 6 lakh crore, Chief Minister Devendra Fadnavis today said
Monsanto and PepsiCo had shown interest in setting up facilities in the
state. Monsanto is keen to set up a 'seed hub' in the Vidarbha region,
while PepsiCo had shown interest in building facilities to mix fruit
juice in its aerated drinks. Monsanto will be setting up the seed hub,
its biggest in the country, at Deoolgaavraja in Buldhana district,
Fadnavis told [….] Read more at:
Uber inks pact with Maharashtra govt to create 75,000 jobs
Taxi-hailing
app Uber today signed an agreement with the Maharashtra government to
help create 75,000 jobs across the state. Through this memorandum of
understanding (MoU), Uber will focus on training women and people from
marginalised sectors of society. "This is to promote equal and fair
opportunity for all sectors of society to earn sufficient fares as
independent entrepreneurs on the platform," Uber said in a statement.
The move would train and provide 75,000 new [….] Read more at:
Taylor Swift wins top Grammy Award, Kendrick Lamar wins 5
Taylor
Swift's official switch from country to pop with her multi-hit,
best-selling "1989" album brought the singer her second Grammy Award win
for album of the year. Swift was shocked when she won the night's top
prize, beating out Kendrick Lamar, Chris Stapleton, Alabama Shakes and
the Weeknd. Swift used her speech to encourage young women who feel
defeated at times or discouraged by others. "There will be people along
the way that will try to undercut your success or take credit for
[….] Read more at:
Realty
firm Omaxe Ltd's sales booking has increased by 16 percent to Rs
1,335 crore in the April-December period of this fiscal. "For the 9
month period ended December, we sold a total of 3.57 million sq ft,
consisting of 3.10 million sq ft of residential spaces and 0.47 million
sq ft of commercial spaces with a total sales value of Rs 1,335 crore.
The average realisation for the year ended is Rs 3,744 per sq ft," Omaxe
management told investors in a conference call. Omaxe had sold 2.87
million sq ft fo [….] Read more at:
Alibaba buys nearly 33 million shares of Groupon
Alibaba
has bought nearly 33 million shares of online daily deal service
Groupon. Groupon Inc's stock jumped more than 16 per cent in today
premarket trading. The purchase gives the Chinese e-commerce powerhouse
about a 5.6 percent stake in Groupon. Alibaba disclosed the purchase in a
regulatory filing on Friday.
The news comes shortly after Groupon reported a fourth-quarter adjusted
profit and revenue that beat analysts' expectations. Last month Alibaba
Group Holding [….] Read more at:
Everything going right in India; see big investments: CISCO
Ajay
Banga, Board Member & CEO, MasterCard and John Chambers, Executive
Chairman, CISCO are bullish on India and expect investments of around
USD 40 billion in two-three-five years and there is every possibility of
bettering that number over the next five-seven years if India keeps
doing all the right things. Speaking to CNBC-TV18’s Shereen Bhan,
Chambers says if there is one emerging market that one has to bet on
then that is India. "We see everything going right in India," he says
[….] Read more at:
Volvo deal to add 40 new clients, 2500 employees: HCL Tech
Leading IT services provider HCL Tech on Tuesday
said it has signed a five-year deal with automobile giant Volvo for its
external IT business. The new deal will add close to 40 new clients,
3,500 applications, 20 data centers and include 2500 employees in about
11 countries, says Pankaj Tagra, Head of Nordics Business at HCL Tech.
Speaking to CNBC-TV18, Tagra says that the deal is the biggest in the
sector in last two years in the global space. The deal is for five years
and will be extended po [….] Read more at:
TCS recognised as UK's top employer
India's
Tata Consultancy Services , a leading global IT, consulting and
business solutions firm, today said it has been recognised as the UK's
top employer by a certification body for the second time in a row. TCS
is one of just 70 employers to receive a Top Employers accreditation by
the Top Employers Institute based on in-depth research into nine core HR
criteria: talent strategy, workforce planning, on-boarding, learning
and development, performance [….] Read more at:
Nalco to invest Rs 20,550 cr for expansion of alumina refinery
Odisha-based
Navratna PSE Nalco has announced investment of Rs 20,550 crore for
expansion of its alumina refinery at Damanjodi and setting up an
aluminium park at Angul in the state. "Since the entire value chain of
Nalco, starting from bauxite mining to aluminium making is based in
Odisha, our major focus is to strengthen the investment climate of the
state thereby boosting Odisha's industrial upsurge," said T K Chand,
CMD, Navratna PSE Nalco. Claiming that Nalco played a [….] Read more
at:
23 dead as missiles hit three hospitals, school in Syrian towns
At least 23 civilians were killed when missiles hit three hospitals and a school in rebel-held Syrian towns on Monday,
residents said, as Russian-backed Syrian troops intensified their push
toward the rebel stronghold of Aleppo. Fourteen people were killed in
the town of Azaz near the Turkish border when missiles slammed into a
school sheltering families fleeing the offensive and the children's
hospital, two residents and a medic said. Bombs also hit another refugee
shelter south of the [….] Read more at:
Govt mulls community service, skills training for juvenile
Seeking
to ensure that juvenile offenders grow up to become better citizens,
the government has decided to involve them in community service and
impart skills-based training to them. Through the initiative under the
Juvenile Justice Act, the Women and Child Development Ministry aims to
bring comprehensive reform in the framework for providing better care
and protection to children in conflict with the law. The plan was mooted
amid reports of radicalisation of the juvenile convict in [….] Read
more at:
Will sign MoU at Make In India for Chakan Phase II invst: M&M
Make
in India is a great initiative but there is need to do lot more at
industry as well as government level to globalise India, said Pawan
Goenka, executive director at Mahindra & Mahindra (M&M) in an
interview to CNBC-TV18 on the sidelines of the ongoing Make in India
event. "Make in India is the most exciting initiative taken by the
government of India," Goenka said, while also pointing out that
companies’ like M&M have already been making in India. He pointed
out that investme [….] Read more at:
Economy & News
Make in India: Delhi-Mumbai Industrial Corridor to invite first anchor investors in August
The Delhi-Mumbai
Industrial Corridor (DMIC) expects to invite the anchor investors to
set up businesses in the hi-tech zone by August. "We are in the final
stages of completing the pre-PPP (private public partnership) process
which includes forming special purpose vehicle and creating the basic
infrastructure like transportation, water treatment, sewage treatment,
among others. "This work will be completed in the next 4-5 months and by
August we feel we will be able to invite anchor in [….] Read more
at:
Economy growing at over 7% despite export ordeal: Nirmala Sitharaman
The
country's economy is growing at over 7 per cent despite the weakness in
exports sector, Commerce and Industries Minister Nirmala Sitharaman
said today. "India is the bright spot. Nobody is denying the (fall in)
exports. Export is suffering, but the fact remains that the Indian
economy is growing at over 7 per cent," she told reporters after
delivering a lecture at the Indian Institute of Management-Bangalore
here. Exports dipped for the 14th month in a row in January, falling
13.6 per cen [….] Read more at:
E-tolling system on 360 plazas to be operational soon: Nitin Gadkari
The
electronic tolling (e-tolling) system on 360 toll plazas will be
operational before April this year, Union Minister Nitin Gadkari said
today. "We have already put this project on fast track and we expect the
system to be operational before April this year," the Road Transport
and Highways Minister said while addressing a press conference on the
sidelines of the ongoing Make in India Week here. He said a special
purpose vehicle will be formed which will include a government
organisation and [….] Read more at:
FDI flows improving; more investments in non-IT sectors: Nirmala Sitharaman
Stating
that the FDI inflows in the country are improving day by day, Union
Commerce and Industry Minister Nirmala Sitharaman today said more and
more investments are coming from sectors other than IT and ITeS.
"Highest investments are coming from services other than IT and
IT-enabled services which may include a lot of things - it could be
courier services; it could be getting into services that are partly
related to logistics and retailing and so on," she said in her address
at [….] Read more at:
Government to meet fiscal deficit targets: Citigroup
The
government is likely to meet its fiscal deficit target of 3.9 per cent
of the GDP for the current financial year, largely on account of the
latest round of excise duty hikes on oil products and marginal
compression in expenditure, says a Citigroup report. The government's
fiscal deficit roadmap of 3.9 per cent of GDP in 2015-16 and 3.5 per
cent of GDP in 2016-17 looks "difficult" but "achievable", it said. "In
our base case, we now think that the government will be able to meet its
3.9 per cent of [….] Read more at:
Use of technology by IT dept has reduced malpractices: Arun Jaitley
Finance
Minister Arun Jaitley today said the usage of technology by the income
tax department has reduced human interface between assessees and tax
officers and helped eliminate malpractices. The Central Processing
Centre (CPC) in Bengaluru, which processes e-filed returns, has the
capacity to handle about five lakh returns a day, he said. "Already
about 3.6 crore returns have been processed through this medium (CPC)
and 1.4 crore assessees have been notified of their refunds. Also
[….] Read more at:
Nepal,
Bhutan, Bangladesh, Tibet and India, these five South Asian
neighbouring countries are coming even closer with opening up of a new
immigration check post between India and Bangladesh at Phulbari near
Siliguri. Location of the check point right on the upcoming Asian
Highway is expected to give a quantum jump to the trade relationship
between these countries. The formal opening of the immigration point
will take place on 18th of February in presence of dignitaries [….]
Read more at:
India may export 10 lakh tonnes rice to Indonesia, valued at Rs 3,300 crore
India
is in talks with Indonesia to export 10 lakh tonnes of rice valued at
Rs 3,300 crore as the island nation is expecting fall in production.
"Indonesia is expecting a fall in rice production this year and looking
to import rice. Indonesia has started the negotiation process," a source
told PTI. Rice is a staple food of Indonesia and it had imported rice
last year as well. "Though no final decision has yet been taken over the
price, but the economic cost to the government for the 10 lakh tonnes
rice is [….] Read more at:
FIPB clears 10 FDI proposals worth Rs 607 crore
Government
has approved 10 foreign investment proposals involving an inflow of Rs
607 crore including Rs 400 crore of Alstom Manufacturing India. Alstom
Manufacturing India Ltd had sought an approval to hold equity and
arrange finance for its downstream investment company Electric
Locomotive Company to be set up in Madhepura (Bihar), the Finance
Ministry said in a statement today. "Based on the recommendations of
Foreign Investment Promotion Board in its [….] Read more at:
Business transactions in GIFT City to cross $1 billion by June
GIFT
City today said the business transactions from its International
Financial Services Centre (IFSC) will cross USD 1 billion by June and
business of more than USD 100 million has already happened so far. "IFSC
at Gujarat International Finance Tec-City (GIFT) has crossed the USD
100 million business transactions mark. USD 1 billion business is
expected to be crossed in next 3-4 months," GIFT Company said in a
statement. "Another dozen plus banks and insurance players are [….]
Read more at:
MSMEs critical for the Indian economy: Raghuram Rajan
Medium
and Small Enterprises (MSME) are critical to economic development and a
'level playing field' should be ensured for them, RBI Governor Raghuram
Rajan today said. "We need to create many more jobs and that is one of
the most important things in the country in the coming years. MSMEs are
very important source of job creation," he said at a India MSME Summit
here. Job creation really takes off not when they are small, but when
they grow, he said, adding that it is important to [….] Read more
at:
Wheat output may rise 8.42% to 94 MT in 2015-16
Wheat
output in India, the world's second biggest grower, is expected to rise
by 8.42 per cent to 93.82 million tonnes in the 2015-16 crop year
despite facing drought and warmer winter. In the 2014-15 crop year
(July-June), wheat output had fallen to 86.53 million tonnes (MT) due to
deficit rain and unseasonal weather conditions. Last year's wheat
output has been revised further down by 2.41 MT in final estimates. This year's wheat production is, however, likely to be lower than the record 95.85 [….] Read more at:
Make in India Week: New crude import policy for spot buys soon, says Dharmendra Pradhan
Oil
Ministry will soon come up with a Cabinet note on new crude import
policy for spot crude purchases by state-owned refiners, doing away with
the long-followed tendering process, Minister Dharmendra Pradhan said
here today. He said new crude import policy will enable the state-run
oil refiners to have a common procurement system which will help get
better prices, which in turn will bring down cost for end-consumers.
"Soon, we will be moving a Cabinet note on crude import policy," [….]
Read more at:
Thanks & Regards,
Meetesh Shiroya
No comments:
Post a Comment