Oct. output at 8 key industries dragged down as steel production shrinks again; cement posts growth Output at India’s eight core sectors shrank 2.5% in October with the contraction widening from September’s revised 0.1% decline as steel production slid again after a brief revival in the preceding month. Steel output, […]
Read moreLabour ministry seeks stakeholders’ comments on draft rules under OSH Code
The labour ministry has sought feedback of stakeholders on the draft rules under the Occupational Safety, Health and Working Conditions (OSH) Code, 2020. The feedback can be provided within 45 days starting Thursday (November 19). Thereafter, the ministry would finalise the rules to implement the OSH Code. “The Ministry of […]
Read moreBPCL gets 3-4 bids; Reliance skips, no big players in race
‘Multiple’ expressions of interest received, tweets FM The government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL. However, billionaire Mukesh Ambani’s Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department […]
Read moreGrowGeneration To Acquire GrowBiz, Expand Presence In California And Oregon
GrowGeneration Corp., a Denver-based chain of specialty hydroponic and organic garden centers, said it has agreed to acquire GrowBiz, the nation’s third-largest chain of hydroponic garden centers. GrowBiz has five stores across California and Oregon. The transaction is expected to close before fiscal year-end 2020. GrowGeneration noted that the acquisition […]
Read moreSamsung Electronics sees profit decline on weak server chip demand after strong Q3 earnings
Samsung posts highest quarterly profit in 2 years. Samsung Electronics Co Ltd said on Thursday it expects fourth-quarter profit to fall due to weak server chip demand and rising smartphone competition, after posting its best quarterly operating profit in two years in the third quarter. The world’s top maker of […]
Read moreOffshore oil workers flee as Zeta heads toward Gulf of Mexico rigs
Texas oil refineries are ‘built to withstand’ hurricanes: American Petroleum Institute CEO American Petroleum Institute President and CEO Mike Sommers argues the oil industry in Texas and other Hurricane Laura-hit states have avoided major damage because the industry prepares for natural disasters like this. Oil producers on Monday were evacuating […]
Read moreGovt waives interest on interest for loans up to ₹2 crore
As per the guidelines, the scheme can be availed by borrowers in specified loan accounts for a period from March 1 to August 31, 2020. In a relief to borrowers at the onset of the festive season, the government on late Friday night announced waiver of interest on interest for […]
Read moreFlipkart to buy ₹1,500-cr. stake in Birla fashion arm
Aditya Birla Fashion board okays deal Walmart’s Flipkart is set to acquire a 7.8% stake in Aditya Birla Fashion and Retail Ltd. (ABFRL) for ₹1,500 crore, intensifying the battle in fashion e-commerce with Amazon.com and Reliance Industries’ retail arm. The ABFRL board had approved a proposal to raise ₹1,500 crore […]
Read moreSugar production to rise 13%, even as industry grapples with surplus opening balance stock
Sugar production is likely to rise 13% to 310 lakh tonnes this year, even as 106 lakh tonnes are still available from the previous year, according to the industry estimates. A significant increase in exports and ethanol diversion is needed to stave off a renewed liquidity crisis, which could jeopardise […]
Read moreInfosys’s net jumps 21%, guidance raised
Company expects annual revenue to climb 2-3%; to award promotions, increments, incentives in Jan. Infosys on Wednesday reported second-quarter net profit jumped 20.5% from a year earlier to ₹4,845 crore, helped by better margins. The information technology services provider also raised revenue growth estimates to 2-3% for the full year. […]
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