The governors of a handful of US states have ordered government-run liquor stores to stop selling Russian-made vodka and distilled spirits in solidarity with the Ukrainian people after Russia's invasion of the neighboring country. Utah Governor Spencer Cox became the latest over the weekend, instructing the state's Department of Alcoholic Beverage Control on Saturday to take off all Russian-produced and branded products from the shelves of its retail stores.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Tx42G6z
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With just a month left for the current financial year to end, taxpayers are again rushing to invest in popular tax-saving options.
India is trying to get more of Ukraine’s east European neighbours on board for allowing access to Indians from the war-torn country so that they could be flown home from there. Polish ambassador to India Adam Burakowski on Sunday Tweeted that the country “is allowing all Indian students who escape from Russian aggression in Ukraine to enter without any visa.”
The Cabinet approved on Saturday a policy amendment allowing foreign direct investment of up to 20% in Life Insurance Corp of India (LIC), a government source said, a change aimed at easing the listing of the state-run insurer.India's biggest insurance company plans to float a stake of 5% to raise about $8 billion next month for the south Asian nation's largest initial public offering (IPO) by far.
The Union Cabinet is likely to consider on Saturday a proposal seeking changes in the foreign direct investment (FDI) policy to facilitate disinvestment of the country's largest insurer LIC, sources said.
India and Russia bilateral payments are made in Indian rupee. For both imports and exports, payments are made or received in rupee for shipments. So, sanctions by the West may not have an impact on the payments, barring exchange rate fluctuation, sources said on Friday.
A few international flights to and from India also could get marginally longer with some countries barring Russian planes from their airspace and then asking their airlines to avoid parts of Russian airspace.
Unilever Plc’s India unit has split the chairman and managing director’s role, with Sanjiv Mehta continuing as MD and Nitin Paranjpe to take over as nonexecutive chairman.
Dalal Street investors pressed the panic button on Thursday morning as Russian forces invaded its neighbour Ukraine, the first such attack on an independent nation in Europe since the end of World War II.
Government officials on Thursday went into a huddle to access the impact of Russian aggression in Ukraine on the Indian economy and began preparing contingency plans to combat a possible spike in inflation due to a rise in oil prices and the country's external trade being impacted.
With the third wave of the pandemic abating and normalcy setting in, urban Indians are reverting to conventional behaviour with priorities shifting to kids’ education and sustaining lifestyles. Covid had seen a shift in focus to financial security for the untimely death of the breadwinner and medical expenses due to infection.
Crompton Greaves Consumer Electronics has said it is acquiring a controlling stake of up to 55% through certain promoter group members in Butterfly Gandhimathi Appliances, makers of kitchen and small domestic appliances (SDAs) under the ‘Butterfly’ brand. Together with a 26% open offer, the acquisition cost would work out to Rs 2,076 crore.
Indian and South Asian listeners across the US, UAE, Qatar, and Bahrain can now install the Mirchi app on their Apple and Android smartphones as well as on Android Auto and Apple Car play systems. More countries are expected to be added to the list soon.
The Dow Jones Industrial Average fell 464.85 points, or 1.38%, to 33,131.76, the S&P 500 lost 79.26 points, or 1.84%, to 4,225.5 and the Nasdaq Composite dropped 344.03 points, or 2.57%, to 13,037.49.
The escalation in the fight between BharatPe co-founder Ashneer Grover and the investors in the fintech startup took an ugly turn on Wednesday with the sacking of Madhuri Jain Grover, Ashneer’s wife and head of controls at the company, over allegations of misappropriation of funds.
Finance minister Nirmala Sitharaman urged chiefs of banks and non-banking finance companies (NBFCs) on Tuesday to join the account aggregator framework to extend the flow of credit to small borrowers and promote digital lending.
Bengaluru and US-based open-source engine Hasura has raised $100 million in a funding round led by Greenoaks that values the company at $1 billion. Existing investors Nexus Venture Partners, Lightspeed Venture Partners and Vertex Ventures have also participated in the round.
Online insurance distributor Coverfox, which is now controlled by private equity investors led by Avaana Capital after the exit of its founders, has recouped revenues and slashed its burn rate by 90%.
