Chinese billionaire Jack Ma suspected missing

As Chinese regulators intensified their crackdown on Jack Ma's Ant Group, speculations are rife that the billionaire is missing. Jack Ma has reportedly not made a public appearance in over two months since Alibaba and Ant Group's initial public offer (IPO) was suspended in November. Speculations intensified when Ma failed to appear in his own show, Africa's Business Heroes.

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2021 MG Hector Facelift arrives at dealerships: Changes explained

The MG Hector Plus 7-seat model is expected to be launched soon. We will be getting our hands on the SUV as well in a short while. But, a reworked MG Hector has been seen with anew design and features at dealerships.

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Honda launches ‘face mask’ for car to prevent spread of viruses

Honda Kurumaku not only promises to prevent the entry of viruses into the car cabin but to also destroy ones present inside when the air recirculation is switched on.

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Nissan Magnite scores 4-star safety rating in ASEAN NCAP crash test

The Nissan Magnite has been awarded a commendable safety rating after a crash test conducted by ASEAN NCAP. The Indian-made small SUV has now gone on sale in Indonesia and other ASEAN countries.

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Manufacturing sector ends 2020 on brighter note

The manufacturing sector is one of the major sectors leading to India's economic recovery which contracted at the slowest pace of 23.9% in Q1 owing to Covid-induced lockdowns. Business activity is slowly improving as manufacturers boosted production to meet the rising demand.

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Mid-corporates, NBFCs face stress: PwC chief

PricewaterhouseCoopers’s (PwC) new chairman Sanjeev Krishan has said that mid-corporates and NBFCs are facing stress along with hospitality, aviation and other general consumer businesses, which are awaiting demand pick up.

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Life sciences top draw for talent, finds TOI survey

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New Audi A4: Engine specs, expected price, features and more

But is the new A4 good enough to change the company’s fortunes in the country? The new model will be launched tomorrow; we drive it.

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Sensex crosses 48,000-mark for first time ever; Nifty tests 14,100

Sensex, Nifty kicked off the first trading week of the new year by scaling to record highs in early trade. The past week saw both sensex and Nifty hitting record levels on a daily basis, buoyed by positive global trends and news around rollout of coronavirus vaccination.

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Govt invites bids for 26% strategic sale in BEML

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'Economic recovery pushed GST collections to record level'

The government believes that economic recovery coupled with action against wrong-doers has helped push GST collections to record levels. In an interview, finance secretary Ajay Bhushan Pandey tells TOI that the government is moving with specific information against those misusing the facility and will ensure that the honest are not burdened.

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BPCL, Air India selloff to slip into FY22

The government may not be able to close the BPCL and Air India disinvestment transactions by March 31, although it is pushing the sale of five large public sector companies, including BEML, for which it sought interest from potential buyers on Sunday.

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RIL deals lift PE-VC funding to 5 yr high in 2020

On the back of Reliance’s fund-raising spree, private equity (PE) and venture capital (VC) investments in 2020 beat the pandemic blues and recorded the highest level in the last five years at $39.2 billion across 814 deals. This was 6.6% higher than 2019, which had seen 1,012 deals.

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China co gets contract for part of Delhi-Meerut RRTS project

The National Capital Region Transport Corporation (NCRTC) has awarded a contract to a Chinese company, Shanghai Tunnel Engineering Company Limited, for the construction of a 5.6-km underground stretch, from New Ashok Nagar to Sahibabad, of the Delhi-Meerut RRTS project. The NCRTC said the contract was awarded following the set procedure and guidelines.

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Metal giants in race for Uttam Galva

Metal billionaires Lakshmi Mittal, brothers Sajjan Jindal & Naveen Jindal, and Anil Agarwal (of Vedanta) have shown an interest in Uttam Galva Steels, which has been put on the block by lenders. Mittal has the highest exposure to Uttam Galva’s liabilities of Rs 9,742 crore, followed by other financial and operational creditors.

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2021 will see a big war for cloud skills

The new war for talent is being fought in the cloud. Demand for cloud has shot through the roof since the beginning of the pandemic, as businesses try to build resiliency. India has 6 lakh cloud practitioners. Of these, 3.7 lakh have one cloud certification each.

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Govt crackdown on 7,000 GST evaders, 185 arrested

Armed with data analytics and information from agencies, the government has launched a massive crackdown on GST evaders, initiating action against 7,000 entities including arrest of 185 - a campaign that contributed to buoyancy in tax collection, finance secretary Ajay Bhushan Pandey said on Sunday. ​​The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy.

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India-UK flights to resume from Jan 6: Full schedule

The national capital will have 12 flights weekly to and from the UK when connectivity partially resumes between the two countries, followed by Mumbai at 11, Bengaluru at 4 and Hyderabad at 3. ​​Air India, Vistara, British Airways and Virgin Atlantic have been allowed to operate 30 weekly flights between the UK and these 4 metros till January 23 after which the frequency will be reviewed by the government.​

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'Covishield' ready to roll out in coming weeks: Poonawalla

Serum Institute of India CEO Adar Poonawalla on Sunday said the Oxford-AstraZeneca Covid-19 vaccine 'Covishield' is ready to roll out in the coming weeks. Poonawalla's remarks came soon after after India's drugs regulator approved Covishield for restricted emergency use.

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CAG seeks performance audit details of PSU banks recapitalisation

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Seven of top-10 firms add Rs 75,845 crore in cumulative m-cap

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Imports go up for 1st time since last Feb, exports dip 0.8%

Indicating a pick-up in economic activity, imports went up for the first time since February, rising 7.6% to $42.6 billion in December, while exports were 0.8% lower at $26.9 billion on account of lower shipment of oil products to the UAE and parts of Europe. As a result, trade deficit widened to $15.7 billion, the highest since January 2020.

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Bitcoin rallies above $30,000 for first time

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China to take action against US delisting of its cos

China will take "necessary measures" to safeguard the interests of its companies after the New York Stock Exchange began delisting three Chinese telecom firms accused of having military ties, the country's commerce ministry said on Saturday.

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New MG Hector facelift to be launched soon: Tata Harrier rival changes explained

It is likely that another top variant - Savvy- might be introduced in the MG Hector line-up. This version could also get 4x4 capability as well as ADAS features from the Gloster.

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Tower damage case: Airtel says Jio's charges are baseless

After Jio's purported allegations that channel partners of rival telcos were inciting and provoking agitators involved in tower disruption, Airtel has shot-off a letter to the telecom department slamming the charges as baseless and outrageous. Airtel added that Jio's complaint does not bear any evidence that Airtel has any hand in the ongoing issues that Jio is facing.

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Negative RT-PCR test must for passengers flying in from UK

All passengers coming from the UK when flights resume on January 8 will require a negative RT-PCR report of a Covid test conducted within 72 hours of their respective flights to India. Airlines flying passengers will need to check the report before allowing them to board the aircraft.

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‘Standardised policies help cover uninsured’

The government is covering the masses through various central schemes, like the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). But the Insurance Regulatory and Development Authority of India (Irdai) — under the chairmanship of Subhash Chandra Khuntia — has taken on the task of covering the missing-middle through standardised insurance covers and micro insurance.

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Today's startups are MNCs of tomorrow: PM Modi

PM Narendra Modi on Saturday said innovation, integrity and inclusion have emerged as the key mantras in the field of management which can help the country achieve the goal of 'Atmanirbhar Bharat'. He also added that the country has been able to build substantial capacity over the last decade which was evident during the Covid-19 crisis.

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Facebook's advertising integrity chief leaves co

Facebook Inc’s chief of advertising integrity, who handled the company’s ad products around sensitive subjects such as politics and coronavirus misinformation, departed this week, according to an internal company post viewed by Reuters on Friday.

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Govt plans seaplane service on Delhi's Yamuna riverfront

You could soon be boarding a seaplane from the Yamuna riverfront to Ayodhya or from Mumbai to Shirdi for a pilgrimage, if the government has its way. The shipping and waterways ministry has issued an expression of interest (EoI) for the Sagarmala Seaplane Service (SSPS) for having this service to connect several places.

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Exports slip 0.8% in Dec; trade deficit widens to $15.71bn

The country's exports declined marginally by 0.8 per cent to $26.89 billion in December 2020, due to contraction in sectors like petroleum, leather and marine products, according to preliminary data released by the commerce ministry on Saturday. Exports in December 2019 was $27.11 billion, while imports stood at $39.5 billion. In November 2020, the exports were down by 8.74 per cent.

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Consumers to spend on grocery, connectivity

Health, wellness and nutrition products & services will occupy a larger share of the consumer’s wallet in the new year. This is because cautiousness would continue to rule 2021, even as the Covid vaccine’s rollout plan raises hopes.

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CCI seeks details on Amazon India antitrust case

The Competition Commission of India (CCI) has sought further details on the new antitrust complaint against Amazon India filed by a representative of Aiova, a group of small online sellers.

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RIL, Mukesh Ambani fined for ‘manipulative trades’

Markets regulator Sebi on Friday fined Reliance Industries, Mukesh Ambani and two other entities a total of Rs 70 crore for alleged manipulative trading in the shares of Reliance Petroleum — which was merged with RIL in 2009— in a case that dates back to 2007. Sebi, in its 95-page order, said in November 2007, RIL and several other entities closely associated with it, simultaneously traded in RPL in the cash and derivatives segments to profit from it.

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RBI comes up with Digital Payments Index

The Reserve Bank of India (RBI) on Friday said it has constructed a composite Digital Payments Index (DPI) with March 2018 as the base period to capture the extent of digitisation of payments across the country.

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RPL case: Sebi fines RIL, Mukesh Ambani, 2 others

Regulator Sebi on Friday imposed penalties on Reliance Industries Ltd, its chairman and managing director Mukesh Ambani as well as two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007.

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Forex reserves dip by $290m to $580.84bn

After touching a record high, the country's foreign exchange reserves declined by $290 million to $580.841 billion in the week ended December 25, Reserve Bank of India (RBI) data showed. In the previous week to December 18, the reserves had surged by $2.563 billion to a lifetime high of $581.131 billion.

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India-UK flights to resume from January 8: Hardeep Puri

Flights between India and the United Kingdom (UK) will resume from January 8, civil aviation minister Hardeep Singh Puri said on Friday. Till January 23, only 15 flights per week each for the carriers of two countries to and from will be allowed. This will also be restricted to only four cities, namely Delhi, Mumbai, Bengaluru and Hyderabad.

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M&M in talks to sell majority stake in SsangYong Motor

Mahindra & Mahindra (M&M) on Friday said it is in discussions with a potential investor to sell its majority stake in South Korean arm SsangYong Motor Company (SYMC) which has already filed for bankruptcy, and expects to sign a non-binding agreement next week.

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Budget to set course for economic pick up after Covid carnage

Indian economy is now expected to see a faster turnaround given the impending rollout of vaccine, increased mobility and less disruptions to business operations as the economy opens up but a lot will also depend on the upcoming Budget for 2021-22 to steer its course.

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Sensex rises 118 pts; Nifty ends above 14k for first time

Equity indices start 2021 on a high note and continued to surge for the eighth straight session on Friday with BSE, NSE closing at fresh record peaks. After touching an intra-day high of 47,980, the 30-share BSE index rose 117 points or 0.25 per cent to close at 47,869; while the broader NSE Nifty settled 37 points or 0.26 per cent higher at 14,108.

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New York stock exchange delists Chinese telcos

The New York stock exchange has begun the process of delisting three Chinese telecoms companies as it seeks to comply with an order by the Trump administration barring investment in firms with ties to the Chinese military.

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Hyundai registers highest-ever December sales: Increases market share for second consecutive year

Hyundai has also emerged as one of the most preferred brands for SUVs in the country and all-new Creta and Venue leading sales charts.

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Mahindra’s plans for all-new Scorpio, XUV500 explained: Thar gets 6,500 bookings in December

While it is unclear yet, given the success of the new Thar there could be petrol/diesel along with manual/automatic powertrains on offer with both the Mahindra Scorpio and XUV500.

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GST collections at all-time high of over Rs 1.15 lakh crore in December

GST collections touched a record high of over Rs 1.15 lakh crore in December, reflecting festive demand and reflating economy. The gross GST revenue collected in the month of December 2020 is Rs 1,15,174 crore and is the highest since the introduction of Goods and Services Tax from July 1, 2017, the finance ministry said in a statement.

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ATF price up 3.7%; LPG unchanged

Jet fuel or ATF price on Friday was hiked by 3.7 per cent, the third increase in rates in one month on firming international oil prices. Aviation turbine fuel (ATF) price was raised by Rs 1,817.62 per kilolitre, or 3.69 per cent, to Rs 50,978.78 per kl in the national capital, according to a price notification of state-owned fuel retailers.

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Centre allows import, export of Covid-19 vaccine without any value limitation

The government has allowed import and export of COVID-19 vaccines without any value limitation, in order to ensure speedy clearance and distribution. The Central Board of Indirect Taxes and Customs (CBIC) has amended the regulations to facilitate the import/export of Covid-19 vaccines through courier, at locations where the Express Cargo Clearance System (ECCS) is operational.

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PM lays foundation stone of Light House Projects: Key points

Prime Minister Narendra Modi on Friday virtually laid the foundation stone of the 'Light House Projects' for building around 1,000 houses each at six sites across six states.

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Maruti Suzuki registers 20.2% y-o-y growth in December: Hatchback segment grows 18.2%

Maruti Suzuki's total sales, including domestic and exports, stood at 1,60,226 units in December 2020, having increased by 20.2 percent from 1,33,296 units.

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Maruti Suzuki sales rise 20% to 1,60,226 units in Dec

The country's largest carmaker Maruti Suzuki India (MSI) on Friday reported a 20.2 per cent increase in sales to 1,60,226 units in December. The company had sold 1,33,296 units in December last year, Maruti Suzuki India (MSI) said in a statement.

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Trump extends freeze on H-1B, other work visas

US President Donald Trump has extended the freeze on the most sought-after H-1B visas along with other types of foreign work visas by three months to protect American workers, saying while therapeutics and Covid-19 vaccines are recently available, their effect on the labour market and community health has not yet been fully realised.

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Ford, Mahindra call off proposed auto JV

In a sudden and surprising move at the close of 2020, American auto maker Ford and homegrown Mahindra and Mahindra decided to call off their automotive joint venture, blaming the decision on “global economic and business conditions caused, in part, by the global pandemic”.

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Tax tribunal drops remark against Mistry in Tata order

Two days after passing critical remarks against Cyrus Mistry, the Income Tax Appellate Tribunal (ITAT) has issued a corrigendum, stating “some inadvertent errors” had crept into its order involving the Sir Dorabji Tata Trust and it has been “rectified”.

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Covid inflated salaries in sales, legal, tech

According to a study by Randstad India, a leading firm in the HR services industry, marketing has emerged as one of the top five highest-paying functions at the senior level where the average salary is about Rs 34 lakh.

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Only a dozen large cos seek Covid loan recast

The Future Group, Shapoorji Pallonji Group and SpiceJet are among those who will apply for loan restructuring. Besides these, there are a couple of thermal power generating companies, a couple of toll road projects, and companies in the textile sector.

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Core sector shrinks 2.6% in Nov, 9th month in a row

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'Market rally may become more broad-based'

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