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Amazon CEO Jeff Bezos gestures during the company's annual Smbhav event in New Delhi on January 15, 2020.

Amazon documents reveal secret strategy to dodge India’s regulators

Reuters Indian traders have long alleged that Amazon’s platform largely benefits a tiny number of big sellers and that the American giant engages in predatory pricing.

The bilateral trade between India and Mauritius has been dipped to $690 million in 2019-20 from $1.2 billion in 2018-19. Image used for representation purpose only.

Cabinet approves trade pact between India and Mauritius

Special Correspondent A mutually convenient date would be finalised for signing of the agreement, after which it will be implemented. It would be India's first such trade pact with an African nation.

Bharti Airtel on Wednesday said it will acquire 20% stake in its DTH arm Bharti Telemedia from an affiliate of Warburg Pincus for about ₹3,126 crore.

Bharti Airtel to buy out Warburg in DTH arm

Special Correspondent Warburg arm to get ₹3,126 cr. for 20%

‘India headed for major recovery in ad spends’

Special Correspondent Ad expenditure to rise 23.2%: GroupM

Indian laborers work at a Metro Rail project site in Ahmedabad, India, Monday, Feb. 1, 2021.

‘India likely in fastest-growing emerging-market economies’

Representational Image | Cargo handling at Kamrajar Port (Ennore) nosedived 25.94% during April-January to 19.66 MT, while ports like Mumbai and Chennai saw their cargo volumes dropping by over 12% during the said period.

Country’s top ports witness decline in traffic for tenth month

Union Telecom Minister Ravi Shankar Prasad. File

Cabinet approves PLI scheme for telecom sector

Youth Congress protest as the petrol price has reached the century mark in some part of the country.

Petrol crosses ₹100-mark in Rajasthan

File photo for representation.

Rupee slips 5 paise to close at 72.74 against U.S. dollar

PTI On Tuesday, the rupee had settled at 72.69 against the American currency

Cairn files case in U.S. to push India to pay $1.2 bn award

Reuters Move is a step in firm’s efforts to recover dues, potentially by seizing Indian assets

GDP to contract 1% in Q3: BofA

PTI Rating firms, brokerages have forecast growth of 0.4-0.7%

Opinion & Analysis

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The Finance Minister has delivered, but the road ahead is long: on Union Budget 2021

Ananth Narayan This Budget scores very high marks on credibility and on its potential to create domestic output and jobs, but much more remains to be done

A Budget that fails to address the hunger pandemic

Dipa Sinha In a year of economic slowdown and growing inequality, we have been presented with a stingy Budget that fails to ensure the bare necessities for all

A promising Budget with a few disappointments

M.Govinda Rao While the Budget promises to revive the economy faster, it continues to emphasise the protectionist trend

Markets

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People walk in front of a digital screen at the facade of BSE.

Sensex extends losses amid global weakness; HDFC twins drag

PTI Profit-booking was seen in finance, IT and FMCG counters, while a depreciating rupee also weighed on investor sentiment, traders said

File photo for representation.

Rupee slips 5 paise to close at 72.74 against U.S. dollar

PTI On Tuesday, the rupee had settled at 72.69 against the American currency

Economy

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Chief Statistician of India Pronab Sen

Union Budget’s good ideas dogged by bad timing: Sen

Special Correspondent ‘Privatisation, bad bank could hurt’

Indian laborers work at a Metro Rail project site in Ahmedabad, India, Monday, Feb. 1, 2021.

‘India likely in fastest-growing emerging-market economies’

PTI Ratings to hinge on lower fiscal deficit, sustaining debt: S&P

Industry

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DRL unveils anti-cancer drug in U.S.

Ashok Leyland increases clean energy sourcing

Bharti Airtel to buy out Warburg in DTH arm

Cabinet approves PLI plan for telecom

Union Budget’s good ideas dogged by bad timing: Sen

‘India headed for major recovery in ad spends’

Reserve Bank issues rules for HFCs

The RBI on Wednesday issued directives to housing finance companies (HFCs) on maintenance of liquidity coverage ratio, risk management, asset

‘Don’t permit Future Group meetings’

Amazon has approached the National Company Law Tribunal (NCLT) urging it not to allow convening of any meeting of Future Group’s shareholders or

‘India likely in fastest-growing emerging-market economies’

Ratings to hinge on lower fiscal deficit, sustaining debt: S&P

With formalisation of WFH, would smaller cities become new job hubs?

With many organisations seeking to bring many digital jobs under a remote-working arrangement, talent strategy is in for a significant transformation

Amazon documents reveal secret strategy to dodge India’s regulators

Indian traders have long alleged that Amazon’s platform largely benefits a tiny number of big sellers and that the American giant engages in predatory pricing.

Bharti Airtel to buy out Warburg in DTH arm

Warburg arm to get ₹3,126 cr. for 20%

Country’s top ports witness decline in traffic for tenth month

Cargo traffic at 12 major ports dropped by 7.44% to 542.13 million tonnes (MT) during April-January this fiscal, compared with 585.73 MT in the year-ago period.

Gold plunges ₹717; silver declines ₹1,274

Gold in the national capital plunged ₹717 to ₹46,102 per 10 gram on Feb. 17 in line with decline in global precious metal prices, according to HDFC

Sensex extends losses amid global weakness; HDFC twins drag

Profit-booking was seen in finance, IT and FMCG counters, while a depreciating rupee also weighed on investor sentiment, traders said

Union Cabinet clears trade deal with Mauritius

Agreement will cover 310 export items for India

Rupee slips 5 paise to close at 72.74 against U.S. dollar

On Tuesday, the rupee had settled at 72.69 against the American currency

USFDA nod for Granules Potassium Chloride ER Capsules

The US Food and Drug Administration (USFDA) has approved drugmaker Granules India’s Abbreviated New Drug Application (ANDA) for Potassium Chloride

Cabinet approves PLI scheme for telecom sector

The Union Cabinet on Wednesday approved the production-linked incentive scheme for the telecom sector with an outlay of ₹12,195 crore over five

PM to initiate work on India’s longest bridge on Feb. 18

The 19.282 km bridge across Brahmaputra will connect Assam’s Dhubri and Meghalaya’s Phulbari

Petrol price crosses ₹100-mark in Rajasthan

State has one of the highest VAT rates on fuel among the big States

Focus on building world class products, not just valuations: PM to startups

The country is not short of ideas, Mr. Modi said, adding that it needs mentors to help turn ideas into reality.

Sensex tumbles over 300 points in early trade; Nifty below 15,300

Elsewhere in Asia, bourses in Hong Kong were trading on a positive note in mid-session deals, while those in Tokyo and Seoul were in the red.

Rupee slumps 23 paise to 72.92 against U.S. dollar in early trade

This comes amid a muted trend in the domestic equity market and strengthening American currency.

Tatas set to acquire 68% stake in BigBasket for ₹9,500 crore

The Tata group will acquire 68% stake in online grocery platform BigBasket for about ₹9,500 crore, sources said. The group has signed an agreement,

Business Live:

Updates from the world of economy, markets, and finance

Twitter starts voice message testing for DMs

Micro-blogging platform Twitter has started testing use of voice messages for sending direct messages or DMs in India. The experiment will be rolled

Nestle India net rises 2.3% to ₹483 crore

FMCG major Nestle India Ltd. on Tuesday reported a 2.3% rise in net profit to ₹483.3 crore for the fourth quarter ended December. The company, which

GDP to contract 1% in Q3: BofA

Rating firms, brokerages have forecast growth of 0.4-0.7%

Telcos ask government to defer net neutrality rules

Licence must for OTT providers: COAI

Cairn files case in U.S. to push India to pay $1.2 bn award

Move is a step in firm’s efforts to recover dues, potentially by seizing Indian assets

‘NBFCs’ stressed assets may rise to ₹1.5-1.8 lakh cr. by March-end’

RBI’s debt-revamp scheme to limit bad loans: Crisil Ratings

Cybersecurity firm 1Kosmos raises ₹110 cr.

1Kosmos, a cybersecurity firm that provides digital identity proofing and authentication service, on Tuesday announced raising ₹110 crore from

HCL Foundation awards ₹16.5-cr. grants

HCL Foundation, the CSR arm of HCL Technologies, on Tuesday said it has awarded a grant of ₹16.5 crore ($2.3 million) to nine NGOs working in the

Honda Motorcycles unveils new bike at ₹1.96 lakh

Honda Motorcycle & Scooter India (HMSI) on Tuesday said it will be introducing its mid-sized motorcycle, CB350RS, in India next month at a price

Indian Bank, erstwhile Allahabad Bank tech platforms integrated

The merger of Indian Bank and erstwhile Allahabad Bank’s technology platforms has been completed and it has gone live since February 15.The core

Ashok Leyland buys stake in solar energy firm

Ashok Leyland Ltd. has picked up a 26% stake in Prathama Solarconnect Energy Pvt. Ltd. (PSEPL) by investing ₹18.66 crore. The commercial vehicle

Adani firm completes acquisition of Dighi Port

Group plans ₹10,000 crore investment

IBM, TechM to deepen collaboration

Technology giants IBM and Tech Mahindra on Tuesday said they would ‘deepen’ their collaboration, including working on five strategic focus areas of

India's high priority for now should be to grow at 7%-8%: Former RBI Governor Bimal Jalan

In an interview with PTI, Mr. Jalan further said it does not seem that India will be able to achieve a $5-trillion economy target by 2024-25

Sensex, Nifty end marginally lower; PowerGrid rallies 6%

After touching a lifetime high of 52,516.76 in the opening session, the 30-share BSE Sensex settled 49.96 points or 0.10% lower at 52,104.17

Nirmala Sitharaman addresses RBI board, explains priorities of govt

The Finance Minister holds customary meeting with the board members of the RBI and Sebi after Budget presentation every year.

Rupee settles on flat note, down 1 paisa at 72.69 against U.S. dollar

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.29% to 90.21.

EPFO likely to declare rate of interest on EPF deposits for 2020-21 on March 4

Last year, in March, EPFO had lowered interest rate on provident fund deposits to a seven-year low of 8.5% for 2019-20, from 8.65% in 2018-19

Amazon to make Fire TV Stick devices in India

Company to join hands with Foxconn subsidiary in Chennai

Karnataka HC rejects NRI businessman B.R. Shetty’s plea against banks’ lookout circulars

BOB and PNB issued LOCs in May and July 2020 as his companies owe ₹2,800 crore to them

SAT stays SEBI’s order banning Kishore Biyani, other Future promoters from markets

The Securities Appellate Tribunal (SAT) has stayed the order passed by market regulator SEBI, that had put a one-year ban on Future Retail

All JLR cars to be fully electric by 2030; Jaguar all electric by 2025

Known for its iconic, high-performance E-Type model in the 1960s and 1970s, Jaguar faces the challenge of many other carmakers - making the transition to electric vehicles while retaining the feeling and power of a luxury combustion engine model.

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