Google to change global advertising practices in landmark antitrust deal

French authority fines U.S. tech firm $268 mn; probe followed publishers’ plaint Google said it would make changes to its global advertising business to ensure it did not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities. The deal with the French competition watchdog could help rebalance the power over advertising […]

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NCLT approves Piramal’s DHFL offer

Tribunal says approval subject to final NCLAT ruling, SC’s judgement on Kapil Wadhawan’s plea The National Company Law Tribunal on Monday approved the Piramal Group’s bid for bankrupt-DHFL, subject to certain conditions. The NCLT’s Mumbai-bench, chaired by H P Chaturvedi and Ravikumar Duraisamy, said the approval is subject to the final ruling from the National Company Law Appellate Tribunal and […]

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Carlyle-led firms to invest ₹3,185 cr. in PNB Housing Finance

Deal to trigger open offer Pluto Investments S.a.r.l., an affiliated entity of Carlyle Asia Partners IV, LP and Carlyle Asia Partners V, LP will invest up to ₹3,185 crore in PNB Housing Finance Ltd. The investment would be via preferential allotment of equity shares and warrants at ₹390 apiece. This follows an approval by PNB Housing Finance’s board to raise […]

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Govt. may notify export refund rates by May end: DGFT Yadav

Delay has affected exporters’ pricing strategies The government may finally notify the refund rates for taxes paid on exported goods by the end of this month, a senior trade official said on Friday, almost five months since the introduction of the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme with the delay affecting exporters’ pricing strategies. Directorate General […]

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CBIC allows goods import, export sans Customs bond

Tax body eases norm till June 30 to avoid delays on COVID The Central Board of Indirect Taxes and Customs (CBIC) on Saturday allowed businesses to import and export goods without furnishing bonds to the Customs authorities until June-end, a move aimed at ensuring no delay or disruption in EXIM trade due to COVID-19. In a circular, the CBIC said […]

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SEBI notifies relaxed rules for listing start-ups

The changes have been made to the framework for listing on the Innovators Growth Platform (IGP), according to two separate notifications issued on Wednesday. With an aim to boost listing of start-ups, markets regulator SEBI has notified a slew of relaxations to norms, including reducing holding period for pre-issue capital and allowing discretionary allotment to eligible investors. The changes have […]

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Non-food credit growth slows in March

Pace eases to 4.9%, from 6.7% a year earlier; medium industries see robust uptake Non-food bank credit growth for March ’21 stood at 4.9% compared with 6.7% a year earlier, as per data on sectoral deployment of bank credit collected by the Reserve Bank of India (RBI) from 33 scheduled commercial banks. This accounted for about 90% of the total […]

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MSD ties up with 5 Indian pharma majors for supply of oral COVID-19 drug Molnupiravir

MSD has signed agreements with Cipla Ltd., Dr. Reddy’s Laboratories, Emcure Pharmaceuticals Ltd., Hetero Labs Ltd. and Sun Pharmaceutical Industries Ltd MSD Pharmaceuticals Pvt. Ltd., a wholly-owned subsidiary of Merck Sharp & Dohme and known as Merck & Co., Inc., has entered into non-exclusive voluntary licensing agreements with five top Indian generic manufacturers for supply of molnupiravir, an investigational oral […]

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Coronavirus | ‘Logistics is key to easing oxygen crisis’

‘Situation to improve in coming weeks’ The oxygen shortages at hospitals treating COVID-19 patients leading to multiple deaths, which has turned the spotlight on the production and supply of the life-sustaining element, may start easing in the coming weeks, multiple challenges notwithstanding, officials in the logistics and gas production industries said. “The government has a grip on the situation and […]

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