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Business Economy


RBI tightens corporate governance norms for core investment companies

RBI tightens corporate governance norms for core investment companies

Mumbai, Aug 14 (UNI) The Reserve Bank of India (RBI) has released a revised set of guidelines for core investment companies (CICs), tightening corporate governance and disclosure norms for these entities.
A CIC is a non-banking financial company (NBFC), which carries on the business of acquisition of shares and securities and holds not less than 90 pc of its net assets in the form of investment in equity shares, preference shares, bonds, debentures, debt or loans in group companies. Its investments in equity shares in group companies constitute a minimum of 60 pc of its net assets, the RBI said on Thursday.
Among the parameters, a CIC will be expected to disclose are details of its investment in other CICs, its off-balance sheet exposures and the maturity pattern of its assets and liabilities. To address the complexity in group structures and the existence of multiple CICs within a group, the RBI has restricted the number of layers of CICs within a group to two. “If a CIC makes any direct/ indirect equity investment in another CIC, it will be deemed as a layer for the investing CIC,” the central bank said in a notification.

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Solvay introduces Actizone™, a long-lasting antimicrobial cleaning technology

24 Sep 2020 | 10:45 PM

BRUSSELS, Sept. 24, 2020 /PRNewswire/ -- Solvay is proud to introduce Actizone™, a line of ready-to-use products and ingredients that provides rapid germ-kill to protect consumers from harmful bacteria and viruses, including the coronavirus. Actizone™ technology also provides 24-hour surface protection to continuously kill 99.9% of bacteria on a range of surfaces.

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The MEDCYCLOPEDIA, a unique platform created by Infinity

24 Sep 2020 | 10:16 PM

Kolkata, Sep 24 (UNI) The only mobile application of India, The MEDCYCLOPEDIA was
launched today in presence of Dr. Kunal Sarkar, Dr. Tuhin Chattapadhyay and Nirmmalya
Nag, Founder, Infinity.

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Huawei Strives to Build industry Intelligent Twins with Intelligent Connectivity

24 Sep 2020 | 9:51 PM

SHANGHAI, Sept. 24, 2020 /PRNewswire/ -- At HUAWEI CONNECT 2020, Huawei announced its all-scenario intelligent connectivity solutions for technology, network, and industry scenarios. These solutions will help Huawei deliver intelligent connectivity that is characterized by ubiquitous gigabit, deterministic experience, and hyper-automation in order to build industry Intelligent Twins. Huawei also launched autonomous driving network (ADN) solutions for enterprises, propelling enterprise networks into the ADN era and accelerating the intelligent upgrades of industries.

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Unleashing potential, Chengdu displays opportunities in park communities with immersive shows

24 Sep 2020 | 9:50 PM

CHENGDU, China, Sept. 24, 2020 /PRNewswire/ -- A news report by National Business Daily:
Southwest China's Chengdu is to introduce a slew of new scenes and products centering on livable park communities on September 25, as the city makes continuous efforts to boost the new economy sector.

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The African Dream: The Man With the Audacity to Build the New Africa - A Documentary Premiere to Inspire a Generation of Africans and the Black Youth

24 Sep 2020 | 9:49 PM

GHANA, West Africa, Sept. 24, 2020 /PRNewswire/ -- The new docufilm "The African Dream: The Man with the Audacity to Build the New Africa" is scheduled to premiere Oct. 10, 2020, with a Global Watch Party on YouTube. The docufilm explores the impact Freedom Jacob Caesar, the visionaire behind this project, has made both as a pioneering business leader and a socially aware philanthropist.

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