Weeks after a controversy broke out around Facebook’s political leanings, the India head of the American social media giant has said in an interview that the company does not profit from hate speech while detailing the in-house checks and balances. The Menlo Park-headquartered firm was accused of ignoring a Bharatiya Janata Party leader’s hate speech on the social media platform following an advisory from the company’s public policy team. Read More
Major defaults in our corp bond holdings due to Covid unlikely: LIC chief
Despite the grim economic situation and in contrast with the sharp contraction most Indian companies are expected to witness, Life Insurance Corporation of India (LIC) expects to grow its business in 2020-21 (FY21). The insurer is not considering scaling down its targets. In a talk with Subrata Panda, LIC Chairman M R Kumar speaks of the life insurance sector, the company’s growth targets, gains from equity investment, and the implications of the pandemic for corporate India. Read More
Suitors opting out of race for Lavasa over fall in realty prices
Top suitors of Lavasa Corporation, including Haldiram Snacks Pvt Ltd and Oberoi Realty, have quit the race to acquire the debt-laden company, citing falling real estate prices due to the Covid-19 pandemic. A subsidiary of construction major HCC, Lavasa had defaulted on bank loans worth Rs 7,700 crore, prompting its lenders to send it to the National
Company Law Tribunal (NCLT) in 2018 for debt resolution under the Insolvency and Bankruptcy Code (IBC). Read More
All Delhi Metro lines operational but ridership just a fraction of earlier
A week after it resumed operations, Delhi Metro is showing a pick-up in ridership. On September 14, the mass rapid transit network ferried about 250,000 riders. Though a sharp surge from 8,300 passengers in the first few hours of its restart on September 7, the number is still nowhere close to the 6-million average daily ridership of Delhi Metro before the nationwide lockdown kicked in on March 25. Read More
Telecom operators sound alarm over India-specific standard for 5G
operators are locked in a bitter battle with key members of the Telecommunications Standards Development Society, India (TSDSI) for trying to push through an India-specific standard for 5G called TSDSI Radio Interface Standard or RIT. The operators would rather go along with the global standards set by the 3rd Generation Partnership Project or 3GPP. Read More
Blackstone, Partners Group Holding in race to acquire Piramal Glass
Blackstone Group and Partners Group Holding AG are the two remaining bidders vying for a controlling stake in Piramal Enterprises Ltd’s glass unit, people familiar with the matter said. The investment firms have progressed to the final round of bidding for India’s Piramal Glass, the people said, asking not to be identified as the information is private. Read More
Adani Green Energy's market valuation crosses Rs 1 trillion mark
Adani Green Energy has entered the club of companies commanding a market valuation of Rs 1 trillion, helped by continuous rally in its share price. The company is also Adani Group’s most valued firm in terms of market valuation. Read More
Govt presents first batch of supplementary demand for grants: An explainer
The Centre has presented to Parliament its first batch of supplementary demand for financial grants to be made to various departments. The demand is to spend an additional Rs 2.36 trillion in FY21. The Centre presents its annual spending plan two months ahead of the beginning of a new fiscal year. Read More
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.