Modi govt to launch 24-hour helpline for exporters, says Piyush Goyal.

Union commerce minister Piyush Goyal said on Monday the Narendra Modi government would soon institutionalize a 24-hour "helpline" for assistance to exporters and resolution of issues.Goyal, who is also in charge of consumer affairs, food and public distribution and textile, further said the government’s...

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Advent buys Eureka Forbes for ₹4,400 crore.

American buyout firm Advent International has agreed to buy a majority stake in Eureka Forbes Ltd, the consumer durable flagship of Shapoorji Pallonji Group and a household name in the vacuum cleaner and water purifier segments, for ₹4,400 crore.Eureka Forbes Ltd, a unit of Forbes and Co. Ltd, will...

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Amazon, Microsoft swoop in on $24 billion India farm-data trove.

Amazon.com Inc., Microsoft Corp. and Cisco Systems Inc. are among technology giants lining up to harness data from India’s farmers in an ambitious government-led productivity drive aimed at transforming an outmoded agricultural industry.Prime Minister Narendra Modi’s administration, which is seeking...

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Swiggy, Zomato will collect, pay GST instead of restaurants; Nirmala Sitharaman says this is not a new tax.

The GST council on Friday discussed the issue of bringing Swiggy and Zomato under GST in detail, finance minister Nirmala Sitharaman said. But there will be no new tax, the finance minister explained. "The specific issue was discussed and any lack of understanding on things like whether the area where...

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Microsoft unveils share buyback of up to $60 billion.

Microsoft Corp., the world’s largest software maker, appointed President and Chief Legal Officer Brad Smith as vice chair and unveiled a new stock-repurchase program of as much as $60 billion.Smith, who joined Microsoft in 1993, will continue to report to Chief Executive Officer Satya Nadella, the Redmond,...

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India, Singapore announce linking of UPI and PayNow fast payment systems.

The Reserve Bank of India (RBI) and the Monetary Authority of Singapore (MAS) on Tuesday announced a project to link their respective fast payment systems. The linked interface is expected to be operationalised by July, 2022.While India uses Unified Payments Interface (UPI) as a fast payment method,...

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Ola electric scooter factory to hire 10,000 women.

Ola Electric on Monday said a team of 10,000 women will exclusively operate its upcoming factory in Tamil Nadu by the time it runs at full scale.Chief executive Bhavish Aggarwal claimed this will be the world’s largest women-only factory and the only such automotive manufacturing facility in the world.He...

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Fabindia appoints i-bankers for up to $1 billion share sale.

Fabindia Overseas Pvt. Ltd has hired five investment banks to help the ethnic wear retailer raise between $750 million and $1 billion, two people familiar with the development said.The company has hired investment banks ICICI Securities, SBI Capital Markets, JP Morgan, Credit Suisse and Nomura, the people...

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Ashoka University to raise ₹1,500 crores for expansion.

Ashoka University (AU) is set to raise about ₹1,500 crore from businessmen, non-resident Indians (NRIs), and high net-worth individuals (HNIs). The private university, whose co-founders have invested more than ₹1,000 crore to build the first campus, has entrusted Ashish Dhawan, the co-founder...

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Reliance considers $5.7 billion offer for T-Mobile Netherlands.

Reliance Industries Ltd (RIL) is set to make a $5.7 billion non-binding offer to acquire a controlling stake in T-Mobile Netherlands BV, the country’s largest telecom operator, two people aware of the development said.RIL is expected to make the offer within a month and has begun shortlisting lenders...

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