Japan’s Toshiba president steps down amid acquisition talks

Nobuaki Kurumatani will be replaced as chief executive and president by his predecessor, Satoshi Tsunakawa, who remained on the board, first as COO and currently chairman. The president of Toshiba Corp. stepped down April 14, a week after the the Japanese technology and manufacturing giant said it was studying an acquisition proposal from a global fund where he previously worked. […]

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India to resume buying oil from Iran once U.S. sanctions ease

India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf nation by the Trump administration India will look to resume buying crude oil from Iran the moment U.S. sanctions are eased, helping it diversify its import basket, a senior government official said. India stopped importing oil from Iran in mid-2019 following sanctions on the Persian Gulf […]

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BoM on course to expand, tap markets: A.S. Rajeev

No capital needed from Centre: MD Bank of Maharashtra is pursuing plans to grow footprint by opening a branch each in 320 districts across the country, where it now has no presence, by next fiscal. By this fiscal, 135 such districts are to be covered and the remaining, in 2021-22 as part of a hub-and-spoke model involving the branch and […]

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IndusInd Bank gets ₹2,021 crore capital boost from promoters

The two promoter entities are IndusInd International Holdings Limited and IndusInd Limited. Hinduja Group’s IndusInd Bank has received ₹2,021 crore equity from the promoters after the conversion of preferential warrants into equity shares. “The warrants were issued as an integral part of the merger with Bharat Financial Inclusion Limited in July 2019. The Promoter entities had paid ₹673 crore at […]

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Texas hit with massive power outages as winter freeze leaves more than 4 million in the dark

Ex-energy secretary: Texas storm shuttering green energy ‘avoidable tragedy’ Former U.S. Energy Secretary Dan Brouillette argues the situation in Texas following a storm shows the importance of having ‘a diverse energy supply.’ More than 4 million Texans are reported to be without power Tuesday as temperatures remain well below freezing across the state, leaving residents scrambling for warmth. Continue Reading Below […]

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Hero MotoCorp Q3 consolidated PAT up 14% at ₹1,029 crore

The company had reported a net profit of ₹ 905.13 crore in the October-December period of the previous fiscal. The country’s largest two-wheeler maker Hero MotoCorp has posted 13.7 % increase in its consolidated profit after tax at ₹ 1,029.17 crore for the third quarter ended December 31, 2020. The company had reported a net profit of ₹ 905.13 crore […]

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UCO Bank logs net profit at ₹35 crore in December quarter

Interest income was down by 4.5% at ₹3,602.59 crore, however, other income moved up by 16.3% to ₹864.38 crore. State-owned UCO Bank on January 25 reported a net profit of ₹35.44 crore in the third quarter ended December of the current fiscal year due to substantial fall in bad loans leading to lowering in provisioning requirements. The Kolkata-headquartered lender had […]

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Telcos seek clarity on onus of security breach post NSD roll-out

They urge Centre to ensure price competitiveness if Chinese gear is barred. Telecom firms have asked the government to clarify about the entity that will be held liable in the event of a security breach in the network post implementation of the National Security Directive (NSD) in the telecom sector, according to sources aware of the development. Telecom operators have […]

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