AGR dues: Voda Idea seeks relief; asks DoT for Rs 8,000 crore GST refund

Business-standard Vodafone Idea has also urged the government to defer the payment schedule for the adjusted gross revenue dues Reeling under the AGR crisis, Vodafone Idea has sought relief from the Department of Telecommunications (DoT). The debt-laden company has asked for settlement of Goods and Services Tax refund to the tune of Rs 8,000 crore, […]

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The world economy will shrink if the coronavirus outbreak isn't contained: Egyptian billionaire

CNBC Egyptian billionaire Naguib Sawiris, executive chairman of Orascom Telecom. Simon Dawson | Bloomberg | Getty Images Disruptions caused by the coronavirus will cause the world’s economy to shrink if the outbreak continues, Egyptian billionaire Naguib Sawiris said this week. “If this is not contained within the next few months, we will see a big […]

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Govt revises rules for enhanced disclosures in auditor reports of companies

Business-standard It would be applicable for audit of financial statements of eligible companies for the financial years commencing on or after April 1, 2019 Auditors will soon be required to provide details about companies’ defaults on borrowings in a prescribed format as well as ensure disclosure of various other information in their reports, with the […]

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Apple iPhone maker Foxconn taps scientist dubbed 'SARS hero' to advise on coronavirus outbreak

CNBC Foxconn employees on the assembly line in Longhua, Shenzhen, China. The company reportedly employed students working overtime at its iPhone factory in Zhengzhou. Qilai Shen | Bloomberg | Getty Images Foxconn, the world’s largest contract manufacturer of electronics, has tapped the famed Chinese scientist behind the discovery of the SARS virus in 2003, to […]

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Stocks – Europe Opens Down Again on Diageo, Danone Virus Warnings

investing.com © Reuters. By Geoffrey Smith Investing.com — Europe’s stock markets opened lower again on Wednesday, as corporate warnings of hits from the coronavirus outbreak added to growing signs of it spreading within Europe and further afield. Markets followed the lead of both Wall Street on Tuesday and Asian stocks overnight, both of which posted […]

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AGR: Bharti Airtel has capacity to withstand $5 bn payout, says Moody's

Business-standard Bharti recorded a Rs 35,300 crore ($5 billion) liability for past-due AGR fees Moody’s Investors Service said on Wednesday said Bharti Airtel has the financial capacity to withstand a payout of $5 billion in statutory dues. The Supreme Court earlier this month directed telecom firms to comply with its October 24, 2019 judgment upholding […]

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More than a dozen killed, hundreds injured as New Delhi riots overshadow Trump visit

CNBC Paramilitary troopers patrol streets during the protest against the Citizenship Amendment Act (CAA) and the National Register of Citizens (NRC) at Jaffrabad area in New Delhi. Manish Rajput | SOPA Images | LightRocket | Getty Images More than a dozen people have been killed and hundreds injured in clashes between opposing groups of protesters […]

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Road ahead for equity markets will be challenging, says Shyamsundar Bhat

Business-standard With Wuhan-based coronavirus spreading fast outside mainland China, risks to global economies could become more pronounced in the next quarter at a time when the global growth is slowing. While the potentially slower global growth is being reflected in our debt market with yields trending lower, it has not yet been reflected in our […]

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Why Japanese baseball fans are as riveting as the game itself

CNBC Baseball, known locally as yakyuu (or literally “field ball”), is a national phenomenon in Japan. Masaoka Shiki, one of Japan’s four great haiku masters, wrote several poems praising it. Osaka’s most infamous urban legend centers around it. It’s even more popular than the nation’s native sumo. According to data published by Japan’s Central Research […]

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Bernie Sanders takes heat in a messy debate – here are the highlights from South Carolina

CNBC Democratic presidential candidate Sen. Bernie Sanders (I-VT) speaks during the Democratic presidential primary debate at the Charleston Gaillard Center on February 25, 2020 in Charleston, South Carolina. Win McNamee | Getty Images In the first Democratic presidential debate since Sen. Bernie Sanders earned a big target on his back, Democratic candidates jumped into an […]

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ISRO to launch geo imaging satellite GISAT-1 on March 5 from Sriharikota

Business-standard GISAT-1 will facilitate near real-time observation of the Indian subcontinent, under cloud-free conditions ANI  Last Updated at February 26, 2020 08:27 IST The Indian Space Research Organisation (ISRO) on Wednesday said that GSLV-F10 will launch geo imaging satellite, GISAT-1, from Satish Dhawan Space Centre in Sriharikota on March 5. The launch is scheduled to […]

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Nifty view and stock picks by HDFC Securities: Buy Alkem Lab, Phoenix Mills

Business-standard Web Exclusive The previous bottom on the Nifty daily chart is placed at 11,614, which can also act as far support. Vinay Rajani  |  Mumbai  Last Updated at February 26, 2020 08:05 IST Breakdown below 11,750 would aggravate the selling pressure in Nifty Nifty has reached a crucial support zone 11,750-11,783, which happens to […]

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Top stock ideas by Religare Broking: Buy Marico, Ujjivan Financial Services

Business-standard Web Exclusive Indications are in the favor of marginal consolidation followed by steady rebound ahead for Marico Buy Marico Limited Last Close: Rs 305.95 Initiation range: Rs 303-306 Target: Rs 325 Stop loss: Rs 296 MARICO has been witnessing correction for the last five months and is currently hovering around the support zone of […]

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Realme C3 review: Good performance overall, but camera disappoints

Business-standard This smartphone could be a good option for those looking for a performer, but if you are looking for Instagram-worthy pictures, you might not be impressed Erick Massey  |  New Delhi  Last Updated at February 26, 2020 07:57 IST After launching several smartphones last year, Chinese smartphone brand Realme is continuing to bring more […]

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Wall Street analysts are standing by these stocks in correction territory, betting on a rebound

CNBC Attendees walk past a Facebook logo during Facebook’s F8 developers conference in San Jose, California, April 30, 2019. Stephen Lam | Reuters The coronavirus-driven market sell-off knocked hundreds of stocks from their recent highs but Wall Street is still betting on a handful of names at correction levels that can recover and rally from […]

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Electronics manufacturers expect coronavirus to delay shipments for several weeks, trade group finds

CNBC A worker attaches a component to a circuit board used in a liquid crystal display (LCD) screen for Boeing Co. aircraft at the Rockwell Collins Inc. production facility in Manchester, Iowa. Daniel Acker | Bloomberg | Getty Images Factories in China are the center of the electronics industry’s supply chain, and manufacturers are increasingly […]

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Democratic debate live updates: Bernie Sanders puts his front-runner status to the test

CNBC Democratic 2020 U.S. presidential candidates (L-R) former New York City Mayor Michael Bloomberg, former South Bend Mayor Pete Buttigieg, Senator Elizabeth Warren, Senator Bernie Sanders, former Vice President Joe Biden, and Senator Amy Klobuchar take the stage for the tenth Democratic 2020 presidential debate at the Gaillard Center in Charleston, South Carolina, U.S., February […]

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Stocks making the biggest moves after hours: Salesforce, Virgin Galactic, SmileDirectClub and more

CNBC Jordan Katzman, co-founder of SmileDirectClub Inc., left, and Alex Fenkell, co-founder of SmileDirectClub Inc., watch traders during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 12, 2019. Michael Nagle | Bloomberg | Getty Images Check out the companies making headlines after the bell: Salesforce.com—The software […]

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Disney's choice of parks boss Bob Chapek as new CEO confuses the company's Wall Street narrative

CNBC Bob Chapek, chairman of Walt Disney Parks and Experiences, stands for a photograph at an unveiling event of Star Wars: Galaxy’s Edge at Walt Disney Co.’s Disneyland theme park in Anaheim, California, U.S., on Wednesday, May 29, 2019. Patrick T. Fallon | Bloomberg | Getty Images Disney‘s Wall Street narrative the past two or […]

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ONGC seeks new petroleum exploration licence for PMT oil, gas fields

Business-standard ONGC has already been using Tapti infrastructure for its other fields for better optimisation Shine Jacob  |  New Delhi  Last Updated at February 25, 2020 21:14 IST State-run Oil and Natural Gas Corporation (ONGC) has lined up a plan to revive the Tapti field near Mumbai. Towards this end, the country’s largest hydrocarbon producer […]

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Donald Trump's India visit: Indian CEOs laud relaxed regulations in US

Business-standard Both Ambani and Birla said acquisitions and business deals had become easier with faster clearances Shreya Jai  |  New Delhi  Last Updated at February 25, 2020 21:33 IST Close to a dozen chiefs of India Inc who met the United States President Donald Trump lauded him for relaxing regulations that improved the business environment. […]

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Nadella 'decodes future', calls for diverse teams to protect AI from bias

Business-standard The Microsoft CEO said the developers have to think about privacy as a human right and there is a need to have gender and ethnic diversity in the teams that are building these technologies. Peerzada Abrar  |  Bengaluru  Last Updated at February 25, 2020 23:33 IST That artificial intelligence (AI) applications can be sometimes […]

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Salesforce Earnings Beat in Q4; Co-CEO Keith Block Steps Down

investing.com © Reuters. Salesforce.com Earnings, Revenue Beat in Q4 Investing.com – Salesforce.com said on Tuesday Keith Block has stepped down as co-chief executive and raised its revenue guidance following fourth-quarter results that topped expectations. Marc Benioff is now chairman and CEO of the company, Salesforce confirmed. “We are delighted to raise our revenue guidance for […]

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Northeast Delhi turns into a war zone: Toll mounts to 13, over 200 injured

Business-standard Communal violence over the amended citizenship law escalated in Northeast Delhi on Tuesday taking the death toll to 13 as police struggled to check the rioters who ran amok on streets, burning and looting shops, pelting stones and thrashing people. After overnight incidents of arson, tension smouldered in the national capital and as the […]

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IRB Infra announces receipt of first tranche of Rs 3,753 cr from GIC

Business-standard The remaining about Rs 650 crore, the company said will be invested in the progress of construction of the under-construction projects Amritha Pillay  |  Mumbai  Last Updated at February 26, 2020 01:28 IST IRB Infrastructure Developers on Tuesday said its private infrastructure investment trust (InvIT) received the first tranche of investments from Singapore’s GIC, […]

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3 SC judges diagnosed with swine flu resume duty, 2 others recovering

Business-standard Awareness on preventive measures was disseminated to all concerned Three of the five Supreme Court judges diagnosed with swine flu have already resumed duty while two others continue to be under home isolation and are recovering, the Union Health Ministry said on Tuesday. It said several preventive measures have been initiated at the apex […]

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Private, govt schools in North East Delhi to remain shut tomorrow: Sisodia

Business-standard Sisodia, who is also the education minister of Delhi, said all internal examinations have been postponed by schools Private and government schools in violence affected North East Delhi will continue to be closed on Wednesday, Deputy Chief Minister Manish Sisodia announced on Tuesday. Sisodia, who is also the education minister of Delhi, said all […]

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Bhilai's existential crisis: Threat to its iron ore security looms

Business-standard There is threat to its iron ore security in Maoist-affected Bastar district of Chhattisgarh Kunal Bose  Last Updated at February 25, 2020 22:47 IST Bhilai Steel Plant (BSP) is un­questionably a jewel in the crown of Steel Authority of India Limited (SAIL) that has four other integrated steel plants (ISPs). The recognition is based […]

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Indian-origin minister Suella Braverman sworn in as UK's Attorney General

Business-standard The 39-year-old minister, a barrister and Cambridge University law graduate who specialised in public law and judicial review, said her priority will be to restore confidence in the justice system. Indian-origin Suella Braverman, appointed the UK’s new Attorney General in British Prime Minister Boris Johnson’s reshuffled Cabinet earlier this month, was on Monday formally […]

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Coronavirus outbreak: Temasek to freeze salary, cut bonuses for a year

Business-standard Temasek said it would donate part of the money it saves to staff-volunteer initiatives Bloomberg  Last Updated at February 26, 2020 02:03 IST Temasek Holdings, Singapore’s state-owned investment firm, is implementing a company-wide wage freeze for an as yet undetermined period and asking senior management to take voluntary pay reductions for up to a […]

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Salesforce Co-CEO Keith Block steps down; Marc Benioff will be sole CEO

CNBC Salesforce stock initially sank 3% in extended trading on Tuesday after the company said co-CEO Keith Block is stepping down. Marc Benioff, the other co-CEO, becomes sole CEO. The company also announced fiscal fourth-quarter results that beat expectations, along with an acquisition. Block joined Salesforce from Oracle as president and vice chairman in 2013, he […]

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Salesforce.com Earnings, Revenue Beat in Q4

investing.com © Reuters. Salesforce.com Earnings, Revenue Beat in Q4 Investing.com – Salesforce.com (NYSE:) reported on Tuesday fourth quarter that beat analysts’ forecasts and revenue that topped expectations. Salesforce.com announced earnings per share of $0.66 on revenue of $4.85B. Analysts polled by Investing.com anticipated EPS of $0.56 on revenue of $4.75B. That with comparison to EPS […]

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Iran now has the highest coronavirus death toll outside of China, threatening the wider Middle East

CNBC An Iranian street vendor sells protective masks in the capital Tehran on February 20,2020. Atta Kenare | AFP | Getty Images DUBAI, United Arab Emirates — Iran’s health ministry on Tuesday confirmed 15 deaths from the coronavirus, the most fatalities of any country outside of China, where the deadly illness originated. Iran also said […]

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Mauritius FPIs continue to be eligible for registration, says Sebi

Business-standard Mauritius has been doing its bit to showcase its compliance with international tax norms in the past year. It includes measures, such as stepping up scrutiny of offshore fund structures. The Securities and Exchange Board of India (Sebi) on Tuesday said foreign portfolio investors (FPIs) from Mauritius will remain eligible for registration, but with […]

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Sebi bans transfer of clients' securities to demat accounts of brokers

Business-standard In November, the watchdog barred KSBL from taking new brokerage clients after it was found that the brokerage firm had allegedly misused clients’ securities to the tune of more than Rs 2,000 crore. Markets regulator Sebi on Tuesday banned transfer of clients’ securities to demat accounts of trading and clearing members. Against the backdrop […]

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Speciality chemical maker Rossari Biotech receives Sebi's approval for IPO

Business-standard Market sources said the IPO size will be worth Rs 700 crore Rossari Biotech, speciality chemical maker with focus on home and personal care products, has received Sebi’s go-ahead to float an initial public offering (IPO). The company, which had filed its draft IPO papers with the markets watchdog in December 2019, obtained its […]

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