Telecom operators and network vendors have sought a year’s extension for mandatory testing of telecom equipment, citing inability to meet deadlines due to inappropriate lab infrastructure in the country and supply chain challenges due to semiconductor shortage. The mandatory testing and certification of telecom equipment (MTCTE) regime will come into effect from July 1, under […]
The Mumbai bench of the National Company Law Tribunal (NCLT) on Friday adjourned the insolvency proceeding against Future Retail (FRL) till Tuesday. The tribunal was hearing the intervention plea filed by e-commerce major Amazon. The Jeff Bezos-led company filed the intervention plea in the insolvency petition filed by Bank of India against Future Retail. Bank […]
To encourage vendors to maximise ethanol supplies, state-run oil marketing companies (OMCs) will provide them monetary relief between Rs 1,179 -2,337 per kilolitre (KL) for six months till November. The move will help OMCs narrow their marketing losses (under-recoveries) due to elevated crude prices, currently pegged between Rs 18-21 per litre for petrol and diesel. […]
Rapid shift towards organised trade channels from unorganised channels, is leading consumer goods and product companies to adopt artificial intelligence and machine learning to improve their working capital cycles. While this move to modern trade channels like e-commerce platforms and large format stores was inevitable given the change in buying patterns of consumers and the […]
Shriram Transport Finance Company (STFC), one of the largest commercial vehicle financers, and part of the Shriram Group, secured a long-term funding of $250 million from the US International Development Finance Corporation (DFC) of the US. The $250- million external commercial borrowing (ECB) is a fixed-rate 10-year loan under STFC’s social finance framework. The funding […]
Digital transformation isn’t a new imperative for business leaders, but Covid-19 has made it a more urgent one, with firms looking to enhance their agility, speed, and data-driven decision-making. At the recently held Sapphire conference in Orlando, Florida, German enterprise software maker SAP announced innovations in four critical areas that will help its customers accelerate […]
Each public-sector bank will have to firm up a three-year road map based on its business priorities under a revamped reform initiative launched by finance minister Nirmala Sitharaman on Wednesday. EASENext, the latest and revamped version of the EASE (Enhanced Access and Service Excellence) reform programme for PSBs, will have two components: EASE 5.0, which […]
Ramco Cements, one of the major cement manufacturers in south India has said that the company is planning a total capex of Rs 1,200-1,300 crore over the next two years to expand the capacity. The company’s net debt stood at Rs 3,800 crore as of FY22 and it plans to repay Rs 500 crore debt […]
Adding a new twist to its ongoing spat with Future Group, e-commerce major Amazon has warned its promoters against sale of the company’s supply chain and logistics businesses to Reliance Industries (RIL) in a fresh transaction. In a letter addressed to Kishore Biyani and other family members who are classified as promoters, Amazon has said […]
The Indian steel sector’s growth is likely to be stable despite the challenges posed by Russia-Ukraine war or the high inflation impacting input costs, said N Chandrasekaran, chairman, Tata Steel. “While there exist risks of high input costs, the growth of the Indian steel industry is likely to remain stable as domestic demand is expected […]