The Indian government has released a set of measures to enhance women's participation in the workforce, including gender-neutral recruitment ads, creche breaks, promoting women in management, and providing maternity benefits to highway and construction workers. The government also encourages companies to review procurement practices, address gender pay gaps, and set up hostels for working women.from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/O85SxRF
Gold strengthened on Monday due to increased tensions in the Middle East, which bolstered demand for the safe-haven asset. Additionally, market participants awaited the Federal Reserve policy decision later in the week for further insight into the timing of the first US interest rate cut of the year. Spot gold rose by 0.4% to $2,027.00 an ounce by 12:02 pm ET (1702 GMT).
The analysis of budget expectations for senior citizens, based on a survey by the Agewell Foundation, reveals significant concerns among the elderly. Key points include the demand for GST exemptions or lower rates on essential products like adult diapers and wheelchairs, a call for more realistic old age pension schemes, and a desire for tax-free investment options.
Indraprastha Gas Ltd plans to expand its piped natural gas service to 57 villages in Delhi's south-west region. As urban areas near saturation and electric vehicles threaten CNG sales, the company aims to reach rural areas. This initiative is part of the government's goal to increase the share of gas in India's energy basket to 15% by 2030.
JPMorgan analysts state that JetBlue avoids a costly merger. The market value of Spirit's equity has dropped significantly. It is believed that JetBlue's management and board were no longer committed to the merger.
Airbus is set to sign an accord to establish an assembly line in India for the production of H125 civil helicopters. The line will be overseen by Tata Advanced Systems Limited. This agreement is expected to be announced during French President Emmanuel Macron's visit to India.
The General Insurance Council introduces the 'cashless everywhere' initiative, allowing health insurance policyholders to access cashless treatment in non-network hospitals. Participating insurers will immediately include non-network hospitals in their network upon receiving a claim. This initiative aims to provide policyholders with a wider choice of hospitals, reduce costs and disputes, and prevent fraud.
Foreign funds continued to sell off in the Indian market, with a net outflow of Rs 3,115 crore. In the past seven trading sessions, foreign portfolio investors have withdrawn over Rs 25,000 crore. This is one of the largest outflows in recent months, comparable to the outflows during the early days of the Covid pandemic.
Indian Immunologicals Ltd rolls out Havisure, India's first indigenous Hepatitis-A vaccine. The two-dose inactivated virus vaccine, developed over eight years, is priced at Rs 2,150 per dose. Extensive clinical trials have shown that Havisure is safe and efficacious for pediatric, adolescent, and adult use.
Zee on Tuesday denied reports that said Sony was planning to call off the merger even as the stock price of the Indian media major crashed nearly 13% in early trades. Zee said it remained "committed to the merger and is continuing to work towards its successful closure", following the report that the $10-billion merger, which would create one of the largest broadcasting companies in the country, is on the brink of a cliff. Sony, however, didn't come out with any statement.
Airtel Business, the B2B arm of Bharti Airtel, on Tuesday announced that it will power over 20 million smart meters for Adani Energy Solutions Ltd (AESL). Airtel, through its nationwide communications network, will deliver reliable and secure connectivity for all AESL's smart meter deployments, the company said in a release. Besides this, Airtel's smart metering solutions that are powered by NB-IoT (narrowband-internet of things), 4G and 2G, will help AESL ensure real-time connectivity and uninterrupted transfer of critical data between smart meters and headend applications.
Nigeria's Dangote oil refinery could begin test runs as early as this week after receiving a sixth crude cargo on Monday, company officials said, finally bringing the 650,000 barrels per day (bpd) plant to life after years of construction delays. The refinery, funded at a cost of $20 billion by Africa's richest man, Aliko Dangote, is being built at Lekki, on the outskirts of the commercial capital Lagos. Nigeria currently imports most of its fuel but the Dangote refinery will make it self sufficient and able to export fuel to neighbours in West Africa.
Glenmark Pharmaceuticals has launched the first biosimilar of the popular anti-diabetic drug, Liraglutide in India. The drug, marketed as Lirafit, is an injectable anti-diabetic medication that lowers therapy cost by 70%. It has received approval from the Drug Controller General of India and is priced at approximately Rs 100 for a standard dose of 1.2 mg per day. This launch marks Glenmark's entry into the injectable anti-diabetic market, expanding their presence in the diabetes therapy space.
Nakul Anand, an eminent hotel and travel industry professional, retired from his position as executive director of ITC. He joined ITC Hotels in 1978 and rose to top positions in the company, overseeing ITC's hospitality, travel, and tourism businesses. Anand was given a farewell at ITC Green Centre. Anand served as ITC Hotels MD from 2003 to 2005 and was appointed as a director on the board of ITC in 2011. He has been acknowledged for his vision and commitment to the tourism and hospitality industry.