Wednesday, April 25News That Matters

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Reliance Communications presents new debt repayment plan :

Reliance Communications presents new debt repayment plan :

Uncategorized
Indian telecoms carrier Reliance Communications Ltd unveiled on Monday a new debt repayment plan, which included a pledge to raise up to 170 billion rupees ($2.62 billion) through the sale of assets such as mobile towers. RCom, as the debt-laden company is commonly called, also said it would repay lenders an additional 100 billion rupees through the sale of commercial real estate, and convert about 70 billion rupees of the debt to 51 percent of the company's equity. RCom, controlled by billionaire Anil Ambani, will retain debt of 60 billion rupees after the completion of the new repayment plan, the company added. source: moneycontrol.com
UK’s first woman Sikh MP elected to key Parliament panel

UK’s first woman Sikh MP elected to key Parliament panel

Uncategorized, World
Britain's first woman Sikh MP has been elected to an influential cross-party panel in the UK Parliament that examines the workings of the Home Office. Preet Kaur Gill, who won the Edgbaston seat for the Labour party in the June 8 snap general election, was elected to the Home Affairs Select Committee in the UK Parliament. The House of Commons Home Affairs Select Committee was chaired by Keith Vaz, Britain's longest-serving Indian-origin MP, until he stepped down from the post last year. Its newly-elected chair is Labour party MP Yvette Cooper, elected unopposed to the post last week. Gill has also been chosen to lead the All Party Parliamentary Group (APPG) for British Sikhs.
Smart Cities Mission: New list of 30 cities announced; investment of nearly Rs 2 lakh crore approved

Smart Cities Mission: New list of 30 cities announced; investment of nearly Rs 2 lakh crore approved

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Thiruvananthapuram in Kerala, Naya Raipur in Chhattisgarh followed by Rajkot in Gujarat have topped the list of 30 smart cities announced by Minister for Urban Development and Housing & Urban Poverty Alleviation, M Venkaiah Naidu today. The third list announced today takes the total number of cities identified under the Smart Cities Mission to 90. Marking the second anniversary of the launch of the Smart Cities Mission, Naidu said that the 30 cities announced today proposed a total investment of Rs 57,393 crore under respective smart city plans. This includes Rs 46,879 crore for ensuring core infrastructure in the areas identified by citizens for area-based development and Rs. 10,514 crore for technology-based solutions for improving governance, service delivery and utilisatio...
BJP wins Assembly bypolls in Delhi, HP, MP, Assam; Re-polling in 38 polling stations of Srinagar Lok Sabha seat underway

BJP wins Assembly bypolls in Delhi, HP, MP, Assam; Re-polling in 38 polling stations of Srinagar Lok Sabha seat underway

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Counting of votes for the by-polls to ten Assembly constituencies across eight states is underway. In Delhi, BJP-SAD alliance has won the bypoll to Rajouri Garden Assembly seat. Manjinder Singh Sirsa. He defeated Congress candidate Meenakshi Chandela by over 14,000 votes. Sirsa got 40,602 votes while Chandela garnered 25,950 votes. AIR correspondent reports, the bypoll is being seen as a precursor to municipal elections scheduled for 23rd of this month in Delhi. BJP's win came as a blow to Aam Aadmi Party, AAP, which could only get 10,000 votes securing a distant third position. The seat was held by AAP’s Jarnail Singh, who resigned to fight elections in Punjab. In Himachal Pradesh, BJP has won the Bhoranj assembly constituency by-election in Hamirpur district by a margin of 8,290
Australia govt company seeks to invest in Adani’s coal mine project

Australia govt company seeks to invest in Adani’s coal mine project

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An Australian government-owned fund manager company has expressed interest to invest in “infrastrcture pieces” of Indian energy giant Adani’s $21 billion controversial coal mine project in Queensland. Chief executive of QIC, Damien Frawley, said the company, whose major clients include defined benefit superannuation scheme for Queensland public servants, was keen to explore infrastructure opportunities around the state. Even though the company has not been approached for investment in the Adani’s Carmichael coal mine project, QIC has said it would not be interested in the mine itself. “But the infrastructure pieces of Adani would be interesting for us to explore. If it fitted within the return rates we are seeking,” Frawley was qouted as saying by ‘The Courier Mail’ here. The indicat
Supreme Court bans registration, sale of BS-III cars from April :

Supreme Court bans registration, sale of BS-III cars from April :

Uncategorized
The Supreme Court banned on Wednesday the registration and sale of vehicles with the older BS-III emission norms after April 1, saying the health of millions was more important than commercial interests. The ruling came on a plea by the Environment Pollution Control Authority. The order is expected to impact around 8 lakh BS-III compliant vehicles that are ready for sale. These vehicles -- two-wheelers, cars and trucks -- are lying in various carmakers’ factories and showrooms across the country. The newer and more stringent BS-IV norms were introduced in phases from 2010 and a nationwide rollout is expected on April 1. EPCA says the objective behind having a cleaner fuel technology would not be achieved if older vehicles continue to flood the market. Automobile companies, except Baj
CII-EXIM Bank Award For Business Excellence 2017

CII-EXIM Bank Award For Business Excellence 2017

Business & Corporate, Uncategorized
CII EXIM Bank Award for Business Excellence The Excellence Model is based on universally accepted standards and practices that are found in the European Quality Award, the US Malcolm Baldrige National Quality Award, Japan Quality Award and Australian Quality Award. The CII-EXIM Bank Award for Business Excellence encourages Organisations to strengthen their management systems, practices and capabilities to enhance and sustain their competitiveness to become World- Class Organisations. The Award is administered by CII. ELIGIBILITY CRITERIA All Organisations operating in India and Overseas units of Indian Organisations are eligible to apply for the Award. The Applicant must have been actively in business at least for the past three years. The following types of Organisations are e...
Cyfuture to Offer Cloud Services through CloudOYE

Cyfuture to Offer Cloud Services through CloudOYE

Business & Corporate, Uncategorized
Cyfuture India (P) Ltd (formerly Cyber Futuristics) - a premier data center facilities – today announced to provide Cloud computing services through its subsidiary establishment CloudOYE aiming to offer specialized and improved services to their clients. “Making CloudOYE as a dedicated Cloud computing services provider would immensely reduce the intricacies attached to multiple hosting platforms, while significantly improve quality of services,” said Mr. Anuj Bairathi, CEO of Cyfuture India, on the sideline of announcing CloudOYE as a separate entity. Cyfuture India (P) Ltd., last month, added yet another feather to their wing by launching its third and the biggest data center in Noida (India) with rack capacity of over 1000. This newly launched data center is Tier-III complaint ultr
Zoom Air – India’s Newest Airline – Aims High, In Talks To Raise Funds :

Zoom Air – India’s Newest Airline – Aims High, In Talks To Raise Funds :

Business & Corporate, Uncategorized
Zoom Air will soon look at raising funding for business expansion. India's newest full service airline, which marked its entry as the 12th operational carrier in the domestic aviation market on February 15, 2017, started as a debt free organisation, Zoom Air's chief executive officer and director Koustav Mohan Dhar told NDTV Profit. After adding fifth aircraft to its fleet, the airline should be looking at venture capitalists and private equity or PE funds to assist the airline in funding and business expansion in a phased manner, the Zoom Air CEO said in an emailed response. "It's important that we start our planning for same now and I'm in talks with few PE players to encourage them to look at a sector which has always been negatively portrayed, whereas it remains as very long and sus...
Tesco to pay 129 million pound to settle false accounting charges :

Tesco to pay 129 million pound to settle false accounting charges :

Business & Corporate, Uncategorized
Britain's biggest retailer Tesco has agreed to pay a 129 million pound ($162 million) fine to settle an investigation by prosecutors over a 2014 profit overstatement, it said on Tuesday. The supermarket group has struck a deferred prosecution agreement (DPA) after months of talks with the Serious Fraud Office (SFO). Tesco said the DPA was the subject of a preliminary court ruling on Monday and the SFO and the firm's UK unit Tesco Stores Limited will now seek final judicial approval to the DPA from the court on April 10. The DPA relates to false accounting by Tesco's UK business between February 2014 and September 2014. It is a voluntary agreement under which Tesco will not be prosecuted provided the business fulfils certain requirements, including paying the fine. source: mone...