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IndiaTV Business: Google News Feed: Digest for August 07, 2023

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Ambuja Cement on Thursday morning announced the acquisition of a majority stake in Sanghi Industries, one of the leading cement manufacturers from western India, at an enterprise value of Rs 5,000 crore. According to the press release, Ambuja Cement (which is part of Adani Group) will buy 56.74 per cent stake in Sanghi Industries Ltd (SIL) from its existing promoter group - Ravi Sanghi & family. According to a statement from Ambuja Cement, the acquisition will be fully funded through internal accruals. 
The government has imposed restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers and servers on Thursday. The import restrictions on the products have been imposed with immediate effect. In a notification, the Directorate General of Foreign Trade informed that the exemption from import licensing is provided for up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return, product development purposes.
Fitch Ratings is in the news after the American credit rating agency downgraded the United States government's credit rating, citing rising debt at the federal, state, and local levels and a "steady deterioration in standards of governance" over the past two decades. It's only the second time in US history that its credit rating has been cut. The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new rating is still well into investment grade. Let's understand the Fitch ratings and how they affect a nation's economy.
At a time when countries like America and China are facing the crisis of economic recession, the world's trust in India (Indian Economy) seems to be increasing. An indication of this has come from the latest report of the world's famous brokerage firm Morgan Stanley. Morgan Stanley has on Wednesday updated India's rating to 'overweight'.
Following the passage of the Jan Vishwas (Amendment of Provisions) Bill, 2023 in the parliament, the Central government has decided to help states in simplification, rationalisation or decriminalisation of provisions with a view to promoting ease of doing business and living in the country.
Equity benchmark indices rebounded in early trade on Friday (August 4) after three days of fall amid buying in IT counters and mixed global market trends.
The government has deferred the implementation of the import restriction order on laptops, tablets and computers till October 31. The announcement was made on Friday. With this, the electronic companies will get more time to import these devices without a license. According to reports, these companies would need to take a licence from the government to import these devices from November 1
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
The government has imposed restrictions on laptops, tablets, all-in-one personal computers, ultra small form factor computers and servers on Thursday. The import restrictions on the products have been imposed with immediate effect. In a notification, the Directorate General of Foreign Trade informed that the exemption from import licensing is provided for up to 20 items per consignment for R&D, testing, benchmarking and evaluation, repair and return, product development purposes.
Fitch Ratings is in the news after the American credit rating agency downgraded the United States government's credit rating, citing rising debt at the federal, state, and local levels and a "steady deterioration in standards of governance" over the past two decades. It's only the second time in US history that its credit rating has been cut. The rating was cut Tuesday one notch to AA+ from AAA, the highest possible rating. The new rating is still well into investment grade. Let's understand the Fitch ratings and how they affect a nation's economy.
At a time when countries like America and China are facing the crisis of economic recession, the world's trust in India (Indian Economy) seems to be increasing. An indication of this has come from the latest report of the world's famous brokerage firm Morgan Stanley. Morgan Stanley has on Wednesday updated India's rating to 'overweight'.
Following the passage of the Jan Vishwas (Amendment of Provisions) Bill, 2023 in the parliament, the Central government has decided to help states in simplification, rationalisation or decriminalisation of provisions with a view to promoting ease of doing business and living in the country.
Equity benchmark indices rebounded in early trade on Friday (August 4) after three days of fall amid buying in IT counters and mixed global market trends.
The government has deferred the implementation of the import restriction order on laptops, tablets and computers till October 31. The announcement was made on Friday. With this, the electronic companies will get more time to import these devices without a license. According to reports, these companies would need to take a licence from the government to import these devices from November 1
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
At a time when countries like America and China are facing the crisis of economic recession, the world's trust in India (Indian Economy) seems to be increasing. An indication of this has come from the latest report of the world's famous brokerage firm Morgan Stanley. Morgan Stanley has on Wednesday updated India's rating to 'overweight'.
Following the passage of the Jan Vishwas (Amendment of Provisions) Bill, 2023 in the parliament, the Central government has decided to help states in simplification, rationalisation or decriminalisation of provisions with a view to promoting ease of doing business and living in the country.
Equity benchmark indices rebounded in early trade on Friday (August 4) after three days of fall amid buying in IT counters and mixed global market trends.
The government has deferred the implementation of the import restriction order on laptops, tablets and computers till October 31. The announcement was made on Friday. With this, the electronic companies will get more time to import these devices without a license. According to reports, these companies would need to take a licence from the government to import these devices from November 1
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
Following the passage of the Jan Vishwas (Amendment of Provisions) Bill, 2023 in the parliament, the Central government has decided to help states in simplification, rationalisation or decriminalisation of provisions with a view to promoting ease of doing business and living in the country.
Equity benchmark indices rebounded in early trade on Friday (August 4) after three days of fall amid buying in IT counters and mixed global market trends.
The government has deferred the implementation of the import restriction order on laptops, tablets and computers till October 31. The announcement was made on Friday. With this, the electronic companies will get more time to import these devices without a license. According to reports, these companies would need to take a licence from the government to import these devices from November 1
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Equity benchmark indices rebounded in early trade on Friday (August 4) after three days of fall amid buying in IT counters and mixed global market trends.
The government has deferred the implementation of the import restriction order on laptops, tablets and computers till October 31. The announcement was made on Friday. With this, the electronic companies will get more time to import these devices without a license. According to reports, these companies would need to take a licence from the government to import these devices from November 1
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.
The government has deferred the implementation of the import restriction order on laptops, tablets and computers till October 31. The announcement was made on Friday. With this, the electronic companies will get more time to import these devices without a license. According to reports, these companies would need to take a licence from the government to import these devices from November 1
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
The Union Government has advised public servants in states to use PM Gati Shakti approach for planning modern infrastructure specially in districts. The approach and use of PM Gati Shakti was discussed during a web-based seminar hosted by the Department for Promotion of Industry and Internal Trade (DPIIT) on August 4.
The Union Cabinet has given its nod to a last-mile broadband connectivity initiative for 6.4 lakh villages nationwide as part of the BharatNet project with an outlay of Rs 1.39 lakh crore, according to sources.
Multibagger recycling stock Vikas Ecotech has secured a fresh order worth Rs 20 crore for supplying coal to cement manufacturer Prism Johnson. This came amid a rally in equity benchmark indices on Friday Sensex and Nifty snapped their three-session losing streak to close nearly 1 per cent higher.
The central government is likely to increase the dearness allowance (DA) for its over one crore employees and pensioners by three percentage points to 45 per cent from the existing 42 per cent as per the agreed formula for the purpose. The dearness allowance for employees and pensioners is worked out on the basis of the latest Consumer Price Index for Industrial Workers (CPI-IW) brought out by the Labour Bureau every month.
The Reserve Bank of India (RBI) is likely to continue with the pause on the key interest rate at its upcoming monetary policy review, as concerns on the inflation front and keeping the borrowing cost stable to maintain the economic growth momentum persist, said experts.
China may lag behind in the global memory chip and artificial intelligence (AI) race amid Beijing's restriction on US-based Micron Technology and export sanctions by Joe Biden administration on American companies on sharing tech with China, the media reported on Sunday.
Reliance Industries Ltd has sought shareholders' nod to give Mukesh Ambani another five years as the Chairman and Managing Director of the company extending his tenure until 2029. During this period, Ambani has chosen not to receive any salary.

Profit of PSU banks more than doubles to Rs 34,774 cr in Q1

Sunday 06 August 2023 03:54 PM UTC+00
Public sector banks (PSBs) have once again posted stellar performance by registering more than double profit of Rs 34,774 crore for the first quarter ended June 2023. During the April-June period of the previous fiscal, all 12 state-owned banks had recorded a total profit of Rs 15,306 crore, according to quarterly numbers published by public sector lenders.
The country's largest telecom player Reliance Jio has received a USD 2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries' annual report.
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