Corporates

The decision was made after market regulator Sebi extended its deadline for companies to split the posts of Chairman and Managing Director by two years till April 2022.

LIC IPO: Set up in 1956, LIC currently controls a majority share in the life insurance market in the country.

State carrier Air India has cancelled flights to China and Hong Kong until further notice while private carrier IndiGo has suspended its flights until February 20.

All India LIC Employees Federation this week staged an hour-long walkout strike to protest against the move to sell its stake in the state-run insurer.

Suzuki Motor is the latest auto maker bracing for disruption in production and supply chains, as the epidemic spreads fast, killing almost 640 people.

State Bank of India (SBI) on Friday announced a reduction in its MCLR or marginal cost of funding-based lending rates by 5 basis points across tenors, and a cut in its fixed deposit interest rates. That marked the ninth cut in the MCLR so far in the current fiscal year. The bank said the new rates for home loans and fixed deposits will take effect on February 10. The move by the country's largest lender comes a day after the Reserve Bank of India (RBI) maintained the status quo on monetary policy amid high inflation, in line with economists' expectations.

Aditya Birla flagship UltraTech, Nuvoco Vistas (formerly Nirma Cement), LafargeHolcim Company and Star Cement were in the race for taking over the 8-million tonne capacity cement business of Emami Group.

Vodafone Idea needs to pay over Rs 53,000 crore as licence fee, spectrum usage charge, interest and penalty dues to the telecom department.

The complainant, a senior citizen, had suffered great mental agony and physical harassment due to re-routing and cancellation of the confirmed flights by Lufthansa German Airlines and British Airways. She was taken into custody by the Airport Police at Copenhagen (Denmark) because she was arbitrarily sent on the route, for which she did not have a visa and even a transit visa was not provided to her.

"Today, employers not just in India but globally must continuously work towards raising and meeting the standards of work environment to attract, engage and retain the best talent to remain competitive. This recognition will further reinforce our commitment to create a work culture that is inclusive and nurtures talent to accomplish and deliver to the best of their abilities," said Suresh Dutt Tripathi, Vice President, Human Resource Management, Tata Steel.

The government has decided to sell 30 per cent stake in the company to a strategic partner, along with transfer of management control. The government currently holds 54.8 per cent stake in Concor. The stake sale in this PSU will fetch the Centre Rs 5,500 crore.

India has been diversifying its sources of crude oil imports, in order to hedge political risks that threaten to choke off supplies from a particular region or country.

Mr Pichai had sought to counter slowing revenue growth in the company's main advertising business by pointing to the Silicon Valley firm's younger units.But Mr Pichai's reveal that Google's YouTube video streaming unit is generating ad revenue at a pace of $15 billion annually put it below rough estimates as high as $25 billion

"As a revenue measure, I propose to raise excise duty, by way of National Calamity Contingent Duty on Cigarettes and other tobacco products. However, no change is being made in the duty rates of bidis," the Finance Minister had said in her Budget speech.

Sandeep Mathrani will join the company as the CEO from February 18, 2020 and will report to Marcelo Claure, who will remain as executive chairman, the company said in a statement.