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  JSW Energy terminates Rs 5,321 cr deal to acquire GMR's Odisha unit

  August 01, 2020 11:06 IST

  Sajjan Jindal-backed JSW Energy on Friday said it has terminated its Rs 5,321 crore deal to acquire GMR Kamalanga Energy due to COVID-19 related uncertainties.

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  ATF price hiked 3 per cent; no change in LPG, petrol, diesel rates

  August 01, 2020 11:00 IST

  Rates were hiked by a record 56.6 per cent (Rs 12,126.75 per kl) on June 1, followed by Rs 5,494.5 per kl (16.3 per cent) increase on June 16. Price was hiked by Rs 2,922.94 per kl or 7.48 per cent on July 1.

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  KLM airlines announces massive layoffs; says would cut nearly 5,000 positions

  August 01, 2020 9:50 IST

  As part of the measures, a total of 4,500 to 5,000 positions in the entire KLM Group, part of Franco-Dutch airline Air France-KLM, will cease to exist. This means that the workforce will be reduced to around 28,000 full-time equivalents (FTEs) in the course of 2021 from the current 33,000 FTEs.

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  India part of international alliance Gavi's new coronavirus global vaccine access drive

  July 31, 2020 22:51 IST

  The COVAX Advance Market Commitment (AMC) forms part of the COVAX Facility, a mechanism hosted by Gavi, the Vaccine Alliance, designed to guarantee rapid, fair and equitable access to COVID-19 vaccines for every country in the world.

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  RBI likely to continue with rate cuts at next week's review: Crisil

  July 31, 2020 18:16 IST

  The Reserve Bank is likely to cut rates by 0.25 per cent at next week's policy review even though inflation remains on the higher side, domestic ratings agency Crisil said on Friday. 

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  Banks cannot refuse credit to MSMEs covered under emergency credit facility: Sitharaman

  July 31, 2020 17:27 IST

  As of July 23, 2020, the total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by public sector banks and private banks stands at Rs 1,30,491.79 crore, of which Rs 82,065.01 crore has already been disbursed.

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  Mukesh Ambani calls for urgent policy measures to do away with 2G

  July 31, 2020 16:51 IST

  ​Reliance Industries Chairman Mukesh Ambani on Friday called for urgent policy measures to move away from 2G service, which started 25 years ago, and make it a "part of history".

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  ITR Filing: 5 Common Mistakes That Can Draw Income Tax Notice

  August 01, 2020 9:35 IST

  The Central Board of Direct Taxes(CBDT) has again extended the deadline for filing of Income Tax Return FY 2018-2019.This no doubt has given some relaxation for taxpayers to file ITR. However, at times it may happen that we make a mistake while filing our ITR at the last minute. Here are common mistakes you should avoid while filing for your Income Tax Returns.

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  FB, Google bet on Jio pact to tap into opportunities in India; plan to take solutions global

  July 31, 2020 15:25 IST

  Tech giants Facebook and Google - which have invested in Mukesh Ambani's Jio Platforms - are keen on leveraging the partnership to cash in on the fast growing business opportunity in India and expand the learnings to other countries as well.

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  SBI's profit surges 81 per cent to Rs 4,189 crore in Q1, bad loans decline

  July 31, 2020 14:28 IST

  SBI (State Bank of India) on Friday posted an 81 per cent spike in standalone net profit at Rs 4,189.34 crore for the first quarter of current fiscal as bad loans declined. The lender had reported a net profit of Rs 2,312.02 crore in the April-June quarter of 2019-20.

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  RBI likely to leave repo rate unchanged in August policy meet: Report

  July 31, 2020 12:13 IST

  The Reserve Bank of India is likely to leave repo rate unchanged in the upcoming policy review meeting and the Monetary Policy Committee may look for "unconventional policy measures" to ensure financial stability, says a report.

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  Supreme Court bars BS-IV vehicles registration till further orders

  July 31, 2020 12:53 IST

  The Supreme Court bench led by Justice Arun Mishra on Friday barred registration of BS-IV vehicles till further orders. SC expressed displeasure about large number of vehicles that were sold in March, and observes that something "fraudulent" may have taken place.

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  Amazon post biggest profit in history as pandemic fuels online shopping

  July 31, 2020 11:43 IST

  Riding on surging online sales during the pandemic as people stayed home, Amazon reported solid second-quarter results, registering a 40 per cent increase in net sales to $88.9 billion, compared with $63.4 billion in the same period last year.

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  Bold reform that triggers animal spirits needed for Indian economy: Raghuram Rajan

  July 31, 2020 8:16 IST

  Rajan said that because of the slide in the growth over the last few years, India entered the current crisis in a more "debilitated" state as compared to its peers.

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  Tata Power gets shareholders' nod to raise Rs 2,600 cr from Tata Sons

  July 30, 2020 23:47 IST

  Tata Power on Thursday said it has received shareholders' approval to raise Rs 2,600 crore via issuance of preferential shares to its promoter Tata Sons.

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  Despite pandemic, HDFC shines with 15 pc growth in net at Rs 4,059 crore

  July 30, 2020 22:03 IST

  The largest mortgage lender HDFC on Thursday reported a solid set of numbers with a 15 per cent growth in consolidated net income at Rs 4,059 crore, along with better margins and asset quality among other key metrics in the pandemic ravaged June quarter.

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  Rupee slips 4 paise to 74.84 per US dollar

  July 30, 2020 21:53 IST

  The rupee fell 4 paise to close at 74.84 against the American currency on Thursday amid month-end dollar demand from importers and a weak trend in domestic equities.

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  LIC's new premium income soars 25.2 per cent to Rs 1.78 lakh crore in FY20

  July 30, 2020 21:37 IST

  Life Insurance Corporation on Thursday declared a marginal 1.31 per cent higher policy payout at Rs 2,54,222.3 crore for 2019-20 despite the insurer logging in the best-ever show on new business premium that jumped 25.2 per cent to Rs 1,77,977 crore.

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  Reliance Industries posts Rs 13,248 crore net profit for June quarter

  July 30, 2020 20:09 IST

  Reliance Industries Ltd on Thursday reported a better-than-expected net profit of Rs 13,248 crore in the June quarter on the back of exceptional income. Net profit was Rs 10,141 crore in the same period a year back, the company said in a regulatory filing.  

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  US economy shrinks at record-breaking 32.9%, biggest decline since 1940

  July 30, 2020 19:37 IST

  The U.S. economy shrank at a dizzying 32.9 per cent annual rate in the April-June quarter — by far the worst quarterly plunge ever — when the viral outbreak shut down businesses, throwing tens of millions out of work and sending unemployment surging to 14.7%.

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  Mother Dairy looks beyond milk, ghee and paneer; enters into bread and confectionery category

  July 30, 2020 15:56 IST

  Mother Dairy, a leading milk supplier in Delhi-NCR, on Thursday forayed into bread segment as part of its strategy to diversify business, and announced its target to more than double its revenue to Rs 25,000 crore in the next five years. Mother Dairy has launched three types of breads -- sandwich, brown, and fruit & milk -- in a price range of Rs 15-40 per packet.

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  Amazon CEO Jeff Bezos: I can’t guarantee that employees never accessed, used third-party seller data

  July 30, 2020 15:13 IST

  Amazon founder and CEO Jeff Bezos has said that he cannot guarantee the company employees have not accessed third party seller data.

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  7th Pay Commission: Good news for Central govt employees retiring during Covid-19 pandemic

  July 30, 2020 15:08 IST

  In a big relief for Central government employees, who are retiring during the COVID-19 pandemic, the Narendra Modi led central government has decided to ensure provisional pension for them till their regular Pension Payment Order (PPO) is issued and other formalities completed

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  TikTok CEO slams Mark Zuckerberg for launching Reels, says Facebook a 'copycat'

  July 30, 2020 12:35 IST

  Reels, a video-music remix feature, has been extended in its test phase to India which was until now the biggest market for TikTok, which has now been banned along with other Chinese apps.

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  Anil Ambani loses ADAG's Mumbai's Santacruz HQs

  July 30, 2020 13:48 IST

  Yes Bank has taken over the headquarter of Anil Ambani’s group in surburban Santacruz for failure to repay dues worth Rs 2,892 crore.

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  Myntra announces expansion of fashion brands to Middle East

  July 30, 2020 9:19 IST

  Fashion e-tailer Myntra is holding discussions for taking its fashion brands to international markets like Southeast Asia and Europe. The Flipkart-owned company on Wednesday announced its foray into the Middle East market with its partnerships with e-commerce platforms, noon.com and namshi.com.

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  FY'19 income tax return filing deadline extended till September 30

  July 29, 2020 23:54 IST

  The government on Wednesday extended the deadline for filing income tax returns for 2018-19 fiscal by two months till September 30.

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  PM Modi holds meeting with heads of banks, NBFCs

  July 29, 2020 23:24 IST

  Prime Minister Narendra Modi on Wednesday held a meeting with top bankers and impressed upon them the need to push lending towards the productive sectors for revival of the economy hit by the COVID-19 pandemic.