• Yes Bank case: ED attaches Rs 2,203 cr assets of Kapoor, others
    NEW DELHI, JULY 9 (IANS): The Enforcement Directorate (ED) has attached Rs 2,203 crore assets of Yes Bank founder Rana Kapoor, his family, Dewan Housing Finance Ltd (DHFL) promoters and others under the Prevention of Money Laundering Act (PMLA) in the Rs 3,700 crore fraud case, officials said on Thursday.   The ED had earlier filed a charge-sheet in the case against Kapoor, his daughter Roshni Kapoor - promoter of DoIt Urban Ventures (India), DHFL's Kapil R. Wadhawan, Dh
  • India plans rental homes to entice migrant workers back to cities
    BANGKOK, July 9 (Thomson Reuters Foundation): India has approved a plan to develop affordable rental housing for migrant workers after millions of labourers fled the nation's cities for villages amidst coronavirus lockdowns that left many of them without jobs and homes.   The scheme, part of a federal housing project aimed at providing housing for all by 2022, aims to convert existing vacant government housing into affordable rental housing complexes (ARHC). Private
  • 49% Indians want Chinese firms to sell goods, with data security
    NEW DELHI, JULY 9 (IANS): A survey has found that around 49 per cent of its respondents feel that Chinese companies should be allowed to sell products in India, but they want their data to be placed in India and should be transferred to the companies' China headquarters.   The LocalCircles survey showed that 35 per cent people said such sales should be completely barred while 14 per cent said they should only be allowed to sell Made in India products. Around 25 per
  • Pompeo says China took incredibly aggressive action in recent clash with India
    WASHINGTON, July 8 (Reuters): U.S. Secretary of State Mike Pompeo on Wednesday accused China of taking "incredibly aggressive action" in a recent clash with India over a disputed section of the nuclear-armed neighbors' border, saying the incident could not be assessed in isolation.   On the night of June 15, Chinese forces and Indian troops fought for hours with rods and clubs, resulting in a dramatic escalation that left 20 Indian soldiers killed, with so
  • India arrests South Korean CEO, 11 others for gas leak at LG Polymers
    CHENNAI, July 8 (Reuters):  Indian police have arrested 12 LG Polymers officials, including its South Korean Chief Executive Sunkey Jeong, an officer said on Wednesday, two months after a gas leak at the company's south Indian chemical plant killed 12.   The arrests were made under a case of culpable homicide filed against the company, a unit of South Korea's LG Chem Ltd, and its officials, stemming from the leak that occurred in the early hours on May 7 in th
  • 30,000 Indian troops in eyeball-to-eyeball confrontation with Chinese
    Leh, July 6 (IANS): Around 30,000 troops of Indian Army are in an eyeball-to-eyeball confrontation with Chinese troops along the Line of Actual Control (LoC) in Ladakh, following the additional deployment of three brigades since the violent face-off last month.   Highly placed sources told IANS that in normal times six brigades, that is two divisions are maintained along the LAC in Ladakh, even as troops are deployed in and out on a rotation basis. However, after the June 15
  • India puts back Taj Mahal reopening citing COVID-19 risks
    NEW DELHI/AGRA, July 5 (Reuters):  India has withdrawn a planned reopening of the Taj Mahal, citing the risk of new coronavirus infections spreading in Agra from visitors flocking to see the 17th century monument to love.   Local authorities issued a new advisory late on Sunday ordering an extension of lockdown curbs on monuments in and around Agra. The government order did not specify the duration of the lockdown for monuments that have been closed since Marc
  • Solar gear imports from China face double taxation
    NEW DELHI, JUNE 30 (IANS): Solar equipment imports, largely from countries such as China, may soon come under double taxation with the Director General of Trade Remedies (DGTR) looking to consider continued imposition of 15 per cent safeguard duty (SGD) on imports of solar cells and modules beyond the cutoff date of July 29.   The DGTR is scheduled to do oral hearing on extension of SGD on July 3 through video conferencing. If a decision to extend safeguard duty is taken the
  • Domestic gas pricing reform on cards, controls may be lifted
    NEW DELHI, JUNE 30 (IANS): In one of the last reforms in the oil and gas sector, the government is set to free up pricing of all domestically produced natural gas that would help scale up local production from fields of ONGC, OIL, Reliance and Vedanta and help create a uniform gas market where the fuel is freely tradable on exchanges.   The development comes soon after the launch of country's first online delivery-based gas trading platform - India Gas Exchange which is
  • Bharti Airtel shareholders to vote on July 31 on scheme of arrangement
    NEW DELHI, JUNE 29 (IANS): The National Company Law Tribunal has directed for a meeting of Bharti Airtel shareholders to consider and approve the scheme of arrangement between Airtel, Bharti Airtel Services, Hughes Communications and HCIL Comtel.   The meeting will be held on July 31 through video conferencing.   In an order dated May 11, 2020, the Principal Bench of the National Company Law Tribunal at New Delhi had directed a meeting to be held of the equity sha
  • With near 20K spike, India's corona tally reaches 5.28 lakh
    New Delhi, June 28 (IANS): While the total number of COVID-19 cases in the world is close to crossing the ten million mark as per the John Hopkins University, India on Sunday witnessed a spike of 19,906 cases in last 24 hours, bringing the total tally to 5,28,859, according to the Ministry of Health and Family Welfare.   India continued to be the fourth worst hit among 213 countries, with 2,03,051 active cases and 16,095 deaths. A total of 3,09,712 persons has recovered and
  • Global coronavirus cases exceed 10 million
    North America, Latin America and Europe each account for around 25% of cases, while Asia and the Middle East have around 11% and 9% respectively, according to a Reuters tally   BEIJING, June 28 (Reuters): Global coronavirus cases exceeded 10 million on Sunday according to a Reuters tally, marking a major milestone in the spread of the respiratory disease that has so far killed almost half a million people in seven months.   The figure is roughly double the nu
  • India's oil imports see biggest drop in over a decade in May
    NEW DELHI, JUNE 27 (IANS): India is on its way to make its biggest savings in the oil import bill this year with Covid-19 related disruptions and sluggish demand conditions squeezing down the country's crude payments to a fourth of previous years' level in the first two months of current fiscal.   In the period of April-May 2020-21, India's oil import bill has fallen to a meagre $5.4 billion as against $19.3 billion in the same period a year ago. Apart from lower
  • Truck companies' prospects depend on when lockdown is lifted: Ashok Leyland
    CHENNAI, JUNE 26 (IANS): The domestic market outlook for the truck industry this fiscal depends on when the Covid-19 lockdown is lifted while currently vehicle production is on, senior officials of Ashok Leyland Limited said on Friday.   They also said the company is also looking at increasing exports with a larger portfolio of products and it is not dependent on component imports from China.   Speaking to reporters, Vipin Sondhi, Managing Director and Chief Execu
  • Amazon Pay 'Smart Stores' to empower local merchants in India
    BENGALURU, JUNE 26 (ians): Amazon Pay on Friday launched Smart Stores feature in India where customers need to scan the store's QR code using the Amazon app to begin exploring the products available within the store.   The 'Smart Store' feature would empower local shops with capabilities to increase footfalls, improve customer experience and generate more sales, the company said in a statement.   "Amazon Pay is already accepted at millions of loca
  • Unilever to drop 'Fair & Lovely' skin lightening product name
    MUMBAI/ISLAMABAD, June 25  (Reuters): Unilever will drop the word "fair" from its "Fair & Lovely" skin lightening products, it said on Thursday, in the latest makeover of a brand in response to a global backlash against racial prejudice.   Skin lightening cosmetics have a huge market in South Asia, but their promotion is being questioned, especially in the wake of the Black Lives Matter movement.   Earlier this month, Johnson & Joh
  • India's sugar production expected at 320 lakh tons in 2020-21: ISMA
    NEW DELHI, JUNE 25 (IANS): Indian sugar mills are likely to produce around 320 lakh tonnes of sugar in the next season, as per the preliminary estimates for sugar season 2020-21 (October-September) issued by the Indian Sugar Mills Association (ISMA) on Thursday.   Hence, sugar production is expected to rise by 48.13 lakh tonnes or 17.69 percent from 272 lakh tonnes in the current season 2019-20. However, the industry body expects that higher diversion of cane juice and B-mol
  • US slams Pakistan for not acting against anti-India terrorists
    NEW YORK, JUNE 24 (IANS): The US on Wednesday slammed Pakistan for continuing to be a safe haven for terrorist groups and for failing to prosecute Jaish-e-Mohammed (JeM) boss Masood Azhar and Lashkar-e-Taiba's (LeT) Mumbai attack mastermind Sajid Mir.   The State Department's Country Reports on Terrorism said: "Islamabad has yet to take decisive actions against Indian- and Afghanistan-focused militants." Pakistan has "made no effort to use domestic aut
  • Massive blaze in Gujarat's Sanand
    AHMEDABAD, JUNE 24 (IANS): A massive fire raged on Wednesday in Ahmedabad's Sanand estate of the Gujarat Industrial Development Corporation (GIDC), engulfing an entire diaper making factory. No casualty has been reported yet.   Even after five hours the firefighters are yet to completely douze the flames, which razed the entire plant and unit to the ground.   A total of around 160-70 firefighters were deployed to douse the fire, a senior fire officer told IANS
  • India calls in army to run facilities in Delhi as cases surge
    NEW DELHI, June 24 (Reuters): India reported 16,000 new coronavirus cases on Wednesday, its highest daily increase since the outbreak began, and the government called in the army to manage new treatment centres with thousands of additional hospital beds in New Delhi.   At more than 456,000 confirmed coronavirus cases so far, India is the fourth worst hit country in the world, behind the United States, Brazil and Russia, according to a Reuters tally.   Cases a