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Businessman Anand Mahindra referred to the death of 57-year-old Czech Republic's singer Hana Horka, who deliberately caught COVID-19 to avoid vaccine, as "a chilling, cautionary tale". He tweeted that he was confused with the recent messaging about superiority of natural immunity but this seemed "like a bucket of cold water". "Death isn't a risk worth challenging vaccinations for," Mahindra wrote.
short by Kiran Khatri / 12:53 pm on 22 Jan
After several people shared memes about Dolo-650 amid rise in COVID-19 cases, the tablet's maker Micro Labs Limited MD Dilip Surana said, "We did not expect the kind of popularity that Dolo-650 gained recently." "Fever and body pain have been the main symptoms of COVID, for which Dolo-650 proved to be the right remedy," Surana added.
short by Arshiya Chopra / 08:08 pm on 22 Jan
Crypto slump erases $1 trillion from the market in 2.5 months
short by Kiran Khatri / on 22 Jan 2022,Saturday
Over $1 trillion has been lost from the global cryptocurrency market amid a slump in digital currencies in two-and-a-half months, Bloomberg reported. On Friday, world's largest cryptocurrency Bitcoin fell below $36,000 for the first time since July, while other cryptocurrencies like Ether also slumped. Bitcoin's decline since its November peak has eroded over $600 billion from its market value.
short by Kiran Khatri / 08:54 am on 22 Jan
World's richest person Elon Musk responded to a video that showed an ape playing with straws, saying, "Baby X [Musk's son] is just like this haha." The video was tweeted in 2020 by Tamil Nadu IAS officer Supriya Sahu. A Twitter account recently re-shared it saying, "This...is a brilliant example of how play is...shared by great apes and humans."
short by Kiran Khatri / 03:51 pm on 22 Jan
Future Retail's independent directors have sought a ₹3,500-crore long-term loan from Amazon after it asked the Kishore Biyani-led company not to sell its small-format store chains. FRL has to pay its lenders by January 29 to prevent its debt from being classified as non-performing assets. "Please confirm...you're willing to fund this amount by Monday," the letter, reviewed by ET, said.
short by Kiran Khatri / 10:54 am on 22 Jan
The slump in Paytm parent One97 Communications' shares has eroded a total of over $10 billion (₹74,400 crore) from IPO investors' wealth since its listing in November, Moneycontrol reported. On Friday, the stock fell 4% to a record low of ₹952.3 apiece on the NSE, but eventually ended the day at ₹960. Its market value stands at over ₹62,000 crore.
short by Kiran Khatri / 10:05 am on 22 Jan
Customer onboarding platform Rocketlane, founded by former Freshworks executives in 2020, raised $18 million in a funding round led by 8VC this week. To celebrate this, the company released a rap song to showcase its journey, which has gone viral on Twitter and LinkedIn. The US and Chennai-based startup had raised $3 million in seed funding in June 2021.
short by Kiran Khatri / 12:52 pm on 22 Jan
Reliance Industries net profit jumps 41.6% to ₹18,549 crore in Q3
short by Arshiya Chopra / on 21 Jan 2022,Friday
Reliance Industries Ltd (RIL) posted a record ₹18,549 crore profit, which rose 41.6% year-on-year in the quarter ended December, according to its exchange filing. The company's revenue (minus excise duty) rose 57% over a year earlier to ₹1,85,047 crore. The results further show that the oil to chemical business of RIL reported a revenue of ₹1.31 lakh crore.
short by Arshiya Chopra / 11:05 pm on 21 Jan
Oil giant Shell drops 'Royal Dutch' from its name after 115 years
short by Kiran Khatri / on 22 Jan 2022,Saturday
Oil giant Shell has officially dropped 'Royal Dutch' from its name, a phrase that was part of its identity for 115 years. The move follows its plans to scrap its dual share structure and relocate its headquarters from the Netherlands to London. Shell has been in a tussle with Dutch authorities over 15% dividend withholding tax on some shares.
short by Kiran Khatri / 02:53 pm on 22 Jan
He tries to make it personal: Warren on Musk calling her 'Senator Karen'
short by Aishwarya Awasthi / on 22 Jan 2022,Saturday
US Senator Elizabeth Warren, while discussing her spat with Tesla's Elon Musk and him calling her 'Senator Karen', said, "It's about trying to make it personal instead of talking about what’s wrong with the tax system." Warren said Musk paid no federal income tax in 2018. "Every nurse who paid taxes, every firefighter who paid taxes, paid more," she added.
short by Aishwarya Awasthi / 01:24 pm on 22 Jan
iPhone-maker Foxconn signs EV partnership with Indonesia govt
short by Aishwarya Awasthi / on 22 Jan 2022,Saturday
iPhone-maker Foxconn has partnered with Indonesia's government and several companies to support EV development in the country. It has signed an MoU for a wide scope of investment on EVs including battery manufacturing with the government as well as Indonesia Battery Corporation. Under the partnership, an open platform that provides both hardware and software services will be available to firms.
short by Aishwarya Awasthi / 09:18 am on 22 Jan
Russia's crypto ban would drive out IT professionals: Telegram CEO
short by Hiral Goyal / on 22 Jan 2022,Saturday
Messaging app Telegram's Russia-born CEO Pavel Durov said Russia's proposed ban on cryptocurrencies could lead to an outflow of IT professionals from the country and destroy several technology industries. Likening the proposal to ban cryptocurrencies to "throwing the baby out with the bath water", Durov wrote on his Telegram channel, "None of the developed nations is banning cryptocurrencies."
short by Hiral Goyal / 08:51 pm on 22 Jan
Porsche India sells 474 units in 2021, highest since 2014
short by Subhangi Singh / on 21 Jan 2022,Friday
Porsche India delivered 474 units in the country last year recording the highest number of cars sold in a year since 2014. The brand registered a growth of 62% over the previous calendar year. Porsche sold 187 units of Macan model which makes 39% of the total sales. Cayenne was the second best-seller contributing 17% of the total sales.
short by Subhangi Singh / 05:25 pm on 21 Jan
SC asks Supertech to refund homebuyers of Noida twin towers by Feb 28
short by Subhangi Singh / on 21 Jan 2022,Friday
The Supreme Court on Friday directed Supertech to refund all homebuyers still invested in the twin towers project in Noida by February 28. Last year, the apex court ordered demolition of the 40-storey twin towers over violation of norms. It directed the company to refund entire amount paid by homebuyers with 12% interest from the time of the booking.
short by Subhangi Singh / 05:35 pm on 21 Jan
Tax benefits to increase disposable income likely in Budget: Report
short by Aishwarya Awasthi / on 22 Jan 2022,Saturday
Brokerage firm KR Choksey has reported that the government may consider tax benefits in the upcoming Budget to increase the net disposable income of the citizens. The government will also put more focus on tax compliance. There might be some changes in InvIT and REIT tax structures to bring long-term capital gains treatment at par with other asset classes.
short by Aishwarya Awasthi / 03:03 pm on 22 Jan
Can't mandate veg, non-veg labels for cosmetics: Regulatory body
short by Medhaa Gupta / on 22 Jan 2022,Saturday
Central Drugs Standard Control Organisation (CDSCO) has told Delhi High Court that vegetarian and non-vegetarian labels for cosmetic products can't be made mandatory for manufacturers. The CDSCO said that this "may complicate regulation and add regulatory burden on stakeholders". Labelling items like toothpaste and other cosmetics and toiletries can be done voluntarily, the regulatory body added.
short by Medhaa Gupta / 10:25 am on 22 Jan
Govt calls all-party meet on January 31 to discuss budget session
short by Dharini Mudgal / on 21 Jan 2022,Friday
The Central Government has convened an all-party meet, which will likely be held at 3pm, on January 31 to discuss Budget Session. The Budget Session will get underway on the same day with the Presidential address at 11am followed by the laying of the Economic Survey. Notably, the government will present the Union Budget for 2022-23 on February 1.
short by Dharini Mudgal / 07:41 pm on 21 Jan
YES Bank's net profit rises 76% y-o-y to ₹266.43 crore in Q3
short by Hiral Goyal / on 22 Jan 2022,Saturday
YES Bank has reported a 76% year-on-year jump in net profit to ₹266.43 crore for the quarter ended December 2021, compared with a profit of ₹150.71 crore in the corresponding quarter last year. The bank's provisions for the quarter plunged 82% year-on-year to ₹374.64 crore. Its net interest income fell to ₹1,764 crore from ₹2,560 crore in the year-ago period.
short by Hiral Goyal / 02:53 pm on 22 Jan
India no longer signs FTAs just to be a part of a group: Goyal
short by Hiral Goyal / on 22 Jan 2022,Saturday
Union Commerce Minister Piyush Goyal at a recent event said India no longer signs free trade agreements (FTAs) just to join a group, but is looking at reciprocal access, good market conditions and fair play in trade in goods and services. "An FTA is a two-way traffic," he said, adding that industry should inculcate a greater appetite for risk taking.
short by Hiral Goyal / 08:46 pm on 22 Jan
FICCI suggested that Union Budget 2022-23 should give tax impetus to providers and consumers of senior care services and products, to boost the healthcare system. It also said that creating robust framework for Public Private Partnership (PPP) model could help boost private sector investment. Meanwhile, Deloitte India recommended tax holidays for rural hospitals in its Budget expectations.
short by Subhangi Singh / 05:29 pm on 21 Jan
Make travel expenses deductible under ITR in Budget: FHRAI to govt
short by Hiral Goyal / on 22 Jan 2022,Saturday
The Federation of Hotel & Restaurant Associations of India (FHRAI) has urged the government to make travel expenses deductible under income tax returns in the upcoming Budget. Since foreign travel is at least 12 to 15 months away from returning to the pre-pandemic levels, the government should give impetus on domestic travel, FHRAI's Vice President Gurbaxish Singh Kohli said.
short by Hiral Goyal / 06:42 pm on 22 Jan
Vikram Dev Dutt takes charge as Air India's Chairman and MD
short by Hiral Goyal / on 22 Jan 2022,Saturday
Vikram Dev Dutt has assumed charge as Chairman and Managing Director (CMD) of Air India. The airline said Dutt took over the charge from Civil Aviation Secretary Rajiv Bansal. Dutt is an IAS officer of 1993 batch of AGMUT (Arunachal Pradesh, Goa, Mizoram and Union Territory) cadre. He's been appointed Air India CMD in rank and pay of Additional Secretary.
short by Hiral Goyal / 05:28 pm on 22 Jan
Ethnic wear retailer Fabindia has filed the draft red herring prospectus (DRHP) with SEBI to launch an IPO in 2022, reported Moneycontrol. The offer reportedly comprises a fresh issue of ₹500 crore and an offer for sale of around 2.5 crore equity shares. Fabindia's promoters, Premji Invest, Bajaj Holdings and Investment and the Nilekani family are among selling shareholders.
short by Hiral Goyal / 07:56 pm on 22 Jan
JPMorgan raises its CEO Dimon's pay 10% to $34.5 million for 2021
short by Hiral Goyal / on 22 Jan 2022,Saturday
JPMorgan Chase's CEO Jamie Dimon will receive a total compensation of $34.5 million for 2021, marking a 10% raise in his annual pay. The package includes $28 million of restricted stock tied to performance, an annual base salary of $1.5 million and a $5 million cash bonus. Dimon, 65, received an annual compensation of $31.5 million for 2019 and 2020.
short by Hiral Goyal / 05:04 pm on 22 Jan
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