New cases of coronavirus infection in India were recorded above 23,000 taking the total tally of COVID-19 cases to 1,13,08,846, according to the Union Health Ministry data.
New cases of coronavirus infection in India were recorded above 22,000 taking the total tally of COVID-19 cases to 1,12,85,561, according to the Union Health Ministry data.
Read more about Top headlines: Bharat Biotech s Covaxin off trial, IDBI Bank out of PCA on Business Standard. Saudi Aramco s $44-billion refinery project at Nanar in Ratnagiri has become a bone of contention between the Maharashtra government and the Centre
The Air India (AI) employees’ consortium and Kolkata-based businessman Pawan Ruia have not qualified for the second round of the sale process for the national carrier. This leaves Tata Sons as the only entity that has confirmed its participation in the bidding process. While media reports said SpiceJet promoter Ajay Singh is also in the reckoning, Business Standard couldn’t verify this claim. Read more
India ready to appeal Cairn s $1.2 billion arbitration award this week A day after British oil firm Cairn Energy pressed for honouring the over $1.4-billion international award on a tax dispute, finance ministry officials said New Delhi was preparing to appeal at The Hague this week. The Union government has finalised the grounds for appeal against the award and is in the final leg of discussions with the Dutch counsels, according to officials. Based on the appeal, India will apply for a stay on the enforcement of the award at a lower Dutch court. Read more
Apple to soon make iPhone 12 in India, shift 7-10% of capacity from China iPhone 12, according to sources in the know, will be manufactured at the Hon Hai Precision Industry (Foxconn) facility in Tamil Nadu both for the domestic as well as well as the export market. The unit also manufactures iPhone 11, which is the bestseller in India, as well as iPhone XR. Read more
Suspension of IBC proceedings may not be extended beyond March 24 With just about a fortnight left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely. An extension may not be economically desirable as it hampers the restructuring prospects for stressed companies, according to senior officials. Also, it would be a challenge to amend the law in such a short time. Read more