Disney set to scale down TV, sports, film business in India
Sun, Oct 18, 2020 4:34 PM

Disney set to scale down TV, sports, film business in India

Media and entertainment conglomerate Walt Disney is likely to scale down its television broadcasting, sports catalogue and film studio business in India, said two people familiar with the development, declining to be named as the plans are not public. The move comes close on the heels of top executive Uday Shankar stepping down as president, for the APAC (Asia and Pacific) region.

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Active users’ tally: Jio gains 2.5 mn subscribers in July
Sun, Oct 18, 2020 4:32 PM

Active users’ tally: Jio gains 2.5 mn subscribers in July

Reliance Jio gained 2.5 million active subscribers in July while rivals Airtel and Vodafone Idea lost 0.4 million and 3.8 million active users respectively, latest reports based on TRAI data said. "Industry's active subscriber base.in July was down 2.1 million at 956 million after decline of 2.8 million month-on-month in June," Axis Capital said in its recent report, crunching TRAI's monthly data.

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Russia's COVID-19 vaccine Sputnik V makes headway in India
Sun, Oct 18, 2020 4:31 PM

Russia's COVID-19 vaccine Sputnik V makes headway in India

The Drug Controller General of India on October 17 gave Dr Reddy's Laboratories the permission to conduct late-stage clinical trials for Russia's COVID-19 Sputnik V vaccine in the country. The nod came after the Hyderabad-based company submitted a reworked application to the Drugs Controller General of India (DCGI) on October 13 with more information on phase 2 and 3 trials.

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Ola to set up new tech centre in Pune, hire 1,000 engineers
Sun, Oct 18, 2020 4:29 PM

Ola to set up new tech centre in Pune, hire 1,000 engineers

Ride hailing platform Ola plans to set up a new technology centre in Pune and hire about 1,000 engineers over the next few years, sources said. In June last year, Ola had opened an Advanced Technology Centre in San Francisco Bay to accelerate its work across electric and connected vehicles. Ola s rival Uber had recently announced strengthening its engineering team in India.

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Dineout expects 70% recovery in restaurant dine-ins this festive season
Sun, Oct 18, 2020 4:27 PM

Dineout expects 70% recovery in restaurant dine-ins this festive season

The COVID-19 pandemic has impacted the F&B industry like never before in the history of mankind. Restaurants are struggling to get back to their feet by gradually adapting to the new normal. As the lockdown is lifted in most of the Indian cities, restaurants are welcoming people for dine-in services. Dineout, a reservation and restaurant tech platform, has recovered 60 percent of its busine...

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India sees eight IPOs worth $850 millon in September quarter: EY report
Sun, Oct 18, 2020 4:23 PM

India sees eight IPOs worth $850 millon in September quarter: EY report

Eight Indian companies came out with IPOs worth USD 850 million in the three months. IPO Trends Report Q3 2020 showed that real estate, hospitality and construction and technology and telecommunications were the most active sectors with two IPOs launched in each sector. The number of Initial Public Offerings at eight in the 2020 September quarter is lower than 12 recorded in the year-ago period.

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White-collar job losses may rise with mega-mergers in US: Goldman Sachs
Sun, Oct 18, 2020 8:00 AM

White-collar job losses may rise with mega-mergers in US: Goldman Sachs

Amid the coronavirus pandemic and the economic crisis prevailing globally, the Wall Street’s top matchmaker for mega deals has sighted a wave of corporate takeovers in the US, with worrying implication for the workforce which may see a jump in white-collar job losses. "Politicians are going to be faced with the uncomfortable reality that you’re going to have more big business doing better and t...

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Term of the day | Bid-Ask spread
Sun, Oct 18, 2020 3:18 AM

Term of the day | Bid-Ask spread

This is the difference between the amount people are willing to spend to buy a share and the amount at which the shareholders are willing to sell a share. A trade can only happen when this spread is resolved. That is, if the lowest price at which a share for Company A is being sold is Rs. 40, and the highest price someone is willing to pay for such a share is Rs. 38 – no trade can happen.

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Bangladesh to resume flights to India from October 28
Sun, Oct 18, 2020 3:12 AM

Bangladesh to resume flights to India from October 28

Bangladesh is all set to resume flights to India from October 28 under 'air bubble' arrangement, after nearly eight months the communications were suspended due to the coronavirus pandemic, according to media reports on Saturday. Under a bilateral air bubble pact, airlines of both the countries can operate international flights with certain restrictions.

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Malaysia Airlines restructuring talks prolonged, CEO tells staff
Sun, Oct 18, 2020 3:11 AM

Malaysia Airlines restructuring talks prolonged, CEO tells staff

Malaysia Airlines' parent firm is still holding negotiations with lessors and creditors over a restructuring plan to keep the airline afloat, but the talks are taking "longer than expected", according to a staff memo seen by Reuters. Malaysia Aviation Group said in an email on Saturday that it is "continuing discussions with creditors on its ongoing restructuring exercise."

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Gems, jewellery exports may dip 20-25 pc; growth expected by FY22: GJEPC
Sun, Oct 18, 2020 3:11 AM

Gems, jewellery exports may dip 20-25 pc; growth expected by FY22: GJEPC

The gems and jewellery export is expected to decline by 20-25 per cent this fiscal year compared to 2019-20 due to the disruptions caused by the COVID-19 pandemic, GJEPC said on Saturday. During 2019-20, the exports stood at Rs 2,52,249.46 crore, according to data provided by the Gem and Jewellery Export Promotion Council of India (GJEPC).

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Paytm users to pay 2% charge on using credit cards to top up wallets
Sat, Oct 17, 2020 9:16 PM

Paytm users to pay 2% charge on using credit cards to top up wallets

Paytm users will have to pay a 2% fee on the amount added to their e-wallet using a credit card. A message saying "Nominal charge of 2% is applicable on adding money using credit card. Nominal fee is applicable since we pay high charges to your bank/payment network when you add money using a credit card.." is displayed when customers attempt to add money to their Paytm wallet via a credit card.

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Now, IndiGo will charge you ₹100 for check-in at any airport counter
Sat, Oct 17, 2020 6:53 PM

Now, IndiGo will charge you ₹100 for check-in at any airport counter

IndiGo will now charge ₹100 service fee per passenger if he or she wants to check-in at the airport counters from 17 October onwards, the airline confirmed in a statement. "IndiGo has introduced a service fee of INR 100 for check-in at the airport counters effective October 17, 2020," read the statement. "We encourage all passengers to web check-in as per the Government directive.."

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Oberoi Realty Q2 profits flatter at Rs138cr despite lower revenues
Sat, Oct 17, 2020 6:12 PM

Oberoi Realty Q2 profits flatter at Rs138cr despite lower revenues

Oberoi Realty reported nearly 3-fold growth in sales revenues for the quarter on a sequential basis as the company managed to bounce from the weak performance of June. On a sequential basis, the operating profits were up 260% and net profits were up 390%, although these growth numbers may be misleading due to the COVID impact in June.

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Dr Reddy’s gets DCGI nod to conduct clinical trial for Sputnik V vaccine
Sat, Oct 17, 2020 6:00 PM

Dr Reddy’s gets DCGI nod to conduct clinical trial for Sputnik V vaccine

Dr. Reddy’s Laboratories Ltd and Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, on Saturday announced that they have received approval from the Drug Control General of India (DCGI) to conduct late-stage clinical trials for Sputnik V vaccine in India. This will be a multicenter and randomized controlled study, which will include safety and immunogenicity study.

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