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  • 18-Sep-2018
  • DAC Approves Procurement of Equipment Worth Rs 9,100 Crores 

    The defence ministry on Tuesday accorded approval for procurement of military equipment and weapons worth Rs 9100 crore, officials said.

    The procurement will include two regiments of Aakash missile systems, they said.

  • No Withholding Tax On Interest Payment Of Masala Bonds 

    The Central Board of Direct Taxes (CBDT) announced that no withholding tax will apply on interest payments made by an Indian company or a business trust to a non-resident in respect of offshore rupee-denominated bonds issued between September 17, 2018 and March 31, 2019. 

  • 17-Sep-2018
  • Time Magazine Acquired By Salesforce Founders For $190 million 

    Salesforce.com Inc. founder Marc Benioff and his wife Lynne agreed to acquire Time magazine from Meredith Corp. for $190 million in cash, joining Jeff Bezos among tech billionaires buying venerable print publications.
    The move thrusts the brash 53-year-old entrepreneur, who helped lead the shift of software to an on-demand model, into a new role: media baron. TIME magazine publisher Time Inc was sold to Meredith for $1.8 billion in January 2018.

  • Infosys Acquires Finnish Company 'Fluido' For Rs 545 crore 

    India's second largest IT services firm Infosys said Friday it will acquire Finland-based Fluido in a deal worth up to 65 million euros (over Rs 545 crore).

    The acquisition -- for "up to 65 million euros including earn-out, management incentives and bonuses -- is expected to close during the third quarter of fiscal 2019, subject to customary closing conditions," Infosys said in a statement.

  • 15-Sep-2018
  • Wholesale inflation drops to four-month low of 4.53% in August

    Inflation-based on wholesale price index (WPI) eased to 4.53% in August on account of decline in the prices of food commodities such as vegetables and pulses.

    WPI inflation stood at 5.09% in July and 3.24% in August last year.

    As per data released on Friday, food articles registered deflation at 4.04% during the month under review while deflation in vegetables, pulses and fruits was 20.18%, 14.26% and 16.40%, respectively.

  • Government Announces Measures To Check Rising Current Account Deficit 

    The government on Friday indicated that it may curb non-essential imports in the weeks ahead and take steps to boost exports besides announcing a number of measures to shore up the rupee and control the current account deficit.

    The five steps announced following a meeting chaired by Prime Minister Narendra Modi to review the state of the economy include scrapping withholding tax on masala bonds — rupee-denominated debt sold overseas — and relaxations in the overseas debt regime.

  • 13-Sep-2018
  • BSNL, Unlimit Ink Partnership For IoT/M2M Services In India 

    Unlimit, end-to-end IoT service provider in India on Tuesday announced its partnership with State-owned Bharat Sanchar Nigam Limited (BSNL) to offer comprehensive Internet of Things (IoT) solutions and services to the enterprise customers across India.

    The partnership between Unlimit and BSNL will leverage seamless wireless network footprint pan India to provide its solutions and services across industries.

  • Sushma Swaraj embarks on a two-day visit to Moscow

    External Affairs Minister (EAM) Sushma Swaraj on Thursday left for a two-day visit to Moscow, Russia.

    During her visit, she will attend the 23rd India-Russia Inter-Governmental Commission on Technical and Economic Cooperation (IRIGC-TEC). It will be co-chaired by Swaraj and Yuri Borisov, Deputy Prime Minister of the Russian Federation.

  • Hunger Reached ‘Alarming’ 10-year high in 2017: UN Report 

    As per a UN report on the ‘state of food security and nutrition in the world’, the number of undernourished globally increased to 821 million in 2017, which means that one in every nine people, does not have enough to eat.
     It was published by the Food and Agriculture Organization (FAO), International Fund for Agricultural Development (IFAD), World Food Programme (WFP), UN Children's Fund (UNICEF) and the World Health Organization (WHO). The increase is mostly due to three drivers across the world

  • 11-Sep-2018
  • Centre Sets Up Panel Of Secretaries To Look Into e-commerce Issues 

    With concerns being raised on some proposals of the draft e-commerce policy, the government has set up a group of secretaries to look into the issues, according to an official. The group will be chaired by the secretary in the department of industrial policy and promotion (DIPP).

    The other members of the group include secretaries of the ministry of electronics and information technology and department of commerce.

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