Coronavirus pandemic-hit tour operators seek relief

Want non-collateral, interest-free loans The Indian Association of Tour Operators (IATO), which represents more than 1,700 tour operators for inbound tourists, has sent an SOS to the Ministry of Tourism seeking relief measures amid “zero business, zero billing, zero cash flow” since the nationwide lockdown that started in March. In a memorandum to Meenakshi Sharma, director general, Ministry of Tourism, […]

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SEBI mulls stress tests, swing pricing for MFs

Move to ensure liquidity in debt mutual funds, committee to work on measures, says Chairman Tyagi The Securities and Exchange Board of India (SEBI) is contemplating policy measures such as stress-testing, minimum asset allocation in liquid assets, and a swing pricing like mechanism to address liquidity issues in debt mutual funds (MFs), said Chairman Ajay Tyagi. Addressing the 25th AGM […]

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No proposal for raising FII limit in PSBs to 49%: Thakur

There is no proposal for raising Foreign Institutional Investment (FII) ceiling in public sector banks to 49% from 20% for capital mobilisation, Minister of State for Finance Anurag Singh Thakur informed the Lok Sabha on Monday. No amount has been raised by the government in the current financial year for recapitalisation of public sector banks (PSBs) through issuance of recapitalisation […]

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Discoms’ liquidity line to rise to ₹1.2 lakh cr.

Package to cover outstanding dues of discoms for the months from April to June: Power Secretary The ₹90,000-crore liquidity package for discoms to help them pay their dues till the month of March would soon be enhanced to ₹1.2 lakh crore factoring in these utilities’ outstanding till June, said a senior official. Finance Minister Nirmala Sitharaman in May announced a […]

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Tredegar To Sell Personal Care Films Business To Brazil’s Fitesa

Tredegar Corp. (TG), a manufacturer of plastic films and aluminum extrusions, announced Tuesday that it has agreed to sell its personal care films business to affiliates of Brazil’s Fitesa S.A. Cash proceeds from the sale net of transaction costs, purchase price adjustments and transition services are estimated at $40 to $45 million. Closing of the transaction, which is contingent upon […]

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Taiwan orders Alibaba to sell stake in e-commerce platform

Taobao Taiwan is operated by a British company, but Alibaba Group’s stake in that company allows it to control the consumer-to-consumer platform in violation of Taiwanese rules Taiwan ordered China’s Alibaba Group on Monday to dispose of its stake in a local e-commerce platform, Taobao Taiwan, citing a risk that users’ personal information might be transferred to the mainland. The […]

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Schwazze, Medicine Man Denver Terminate Merger Deal

Schwazze, formerly operating as Medicine Man Technologies Inc., and Medicine Man Denver, a Colorado-based cannabis cultivator and retailer, have terminated their merger agreement. Medicine Man Denver said it has terminating its term sheet with Schwazze, also based in Denver, effective the expiration of the agreement on August 20, 2020. Schwazze formerly operated as the consulting arm of Medicine Man Denver. […]

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