Thursday, May 28 2020 | Time 21:11 Hrs(IST)
  • TN reports 827 new COVID-19 positive cases, 12 deaths on a single day
  • Real Estate Tribunal in Assam can take up cases related to Meghalaya
  • Jakhar’s social media campaign attempt to divert attention from liquor scam: Chugh
  • Haryana records one more death, 123 fresh Covid-19 cases
  • India reports over 6k cases for seventh day in row, SC makes migrants fare free
  • Migrants wanting to return to UP need to hurry up: Yogi
  • BJP spokesperson Sambit Patra hospitalised after showing Corona virus symptoms
  • Shah pays tribute to Veer Savarkar on his 137th anniversary
  • COVID-19 cases in Chhattisgarh rise to 315
  • India peacefully engaged with China on border issue: MEA
  • Covid toll touches 223 in Bengal; 344 new cases
  • Thunderstorm likely over Uttarakhand in next 24 hours
  • HRD Min Pokhriyal interacts with heads of 45,000 higher educational institutions
  • Andhra CM showcases strength, seek investments
  • Covid 19: Odisha reports more recoveries than positive cases for the second day today
Business Economy


Pause in softening interest rate cycle to allow more transmission is sensible: India Inc

New Delhi, Dec 5 (UNI) Assocham president Mr B K Goenka on Thursday said a temporary pause by the Reserve Bank of India to the policy interest rate reduction cycle while keeping its stance accommodative is understandable as long as it keeps nudging the banks to significantly pass the benefits of earlier rate combined Repo rate cuts of 135 basis points since February this year.
Commenting on the RBI's Monetary Policy Committee's decision to keep the Repo rate unchanged at 5.15 per cent, Mr Goenka said by the central bank's own assessment against rate cuts of 135 basis points in the last 10 months, the transmission by the banks has been only 44 basis points. ''We agree with RBI Governor Mr Shaktikanta Das that there is no point announcing rate cuts mechanically, unless the actual transmission takes place at the ground level.''
The Associated Chambers of Commerce and Industry of India president said that with the growth projections by the RBI being substantially lowered to 5 per cent for FY 20 and the second quarter GDP expanding by 4.5 per cent, the economy needs a major demand push which can be greatly generated by much higher credit growth which remains dismal. " While inflation control remains the mandate of the RBI, balancing the target with growth is equally important and the tone and tenor of RBI Governor's statement and subsequent media interaction points towards this end. Besides, a coordinated approach with the government to prime up the GDP growth, as underscored by Mr Das , is equally appreciable.''
In a statement here, Mr Goenka said the focus should primarily be directed towards demand revival . While the government does seem to be doing the heavy lifting, revival of consumer confidence would do the trick. "Sectors like real estate and construction can really lift the sentiment , making it imperative for the Stress Fund of Rs 25,000 crore to be made functional for the sector. Besides, improved outlook in agriculture should also help the economy bottom out faster''.
UNI RP1855
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Firmenich Successfully Completes Acquisition of DRT

28 May 2020 | 9:09 PM

GENEVA, May 28, 2020 /PRNewswire/ -- Firmenich International SA, a global leader in the Flavor & Fragrance industry, is pleased to announce the completion of its acquisition of Les Dérivés Résiniques et Terpéniques ("DRT"). DRT is a world leader in the development and supply of high quality, renewable and naturally-derived ingredients. This acquisition will see Firmenich become a key player in renewable ingredients for perfumery and beyond. Founded in 1932 and headquartered in Dax, France, DRT developed a unique, backward integrated business model over many decades, including access to sustainable raw materials, best-in-class extraction and distillation capabilities and advanced innovation processes.

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CGI Supports Karnataka Government in Strengthening Their Pandemic-related Efforts

28 May 2020 | 9:09 PM

BENGALURU, May 28, 2020 /PRNewswire/ -- CGI in partnership with Oasis Foundation, a non-governmental organisation (NGO) are working closely with the Karnataka government to support the government's efforts in combating the COVID-19 pandemic in the state.

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Assam invites investment from US-India Business Council

28 May 2020 | 8:53 PM

Guwahati, May 28 (UNI) Assam Industries and Commerce Minister Chandra Mohan Patowary interacted with top global companies operating across the United States and India through a webinar on Thursday.

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Court Order Against Senior Preventing Importation of Battery Separators Into the United Kingdom is Extended

28 May 2020 | 8:38 PM

CHARLOTTE, North Carolina, May 28, 2020 /PRNewswire/ - Following the United Kingdom (UK) court's grant on May 7, 2020 of an interim injunction against Shenzhen Senior Technology Material Co., Ltd. (Senior) as requested by Celgard, LLC (Celgard), a subsidiary of Polypore International, LP (Polypore), the matter returned before the UK court on May 21, 2020. The court's new order continued the effect of the interim injunction pending a further substantive hearing that will take place on an agreed date between June 29 and July 10, 2020. Senior provided an official letter to the Judge acknowledging its formal undertakings to the UK court. Celgard intends to pursue an injunction through trial of its trade secret case against Senior at the next hearing.

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Wipro positioned as teknowlogy leader: PAC Group’s IoT C&SI survey

28 May 2020 | 8:31 PM

Bengaluru, May 28 (UNI) Wipro Limited a leading global information technology, consulting and business process services company, today announced that it has been positioned as a leader across several categories in teknowlogy | PAC Group’s Internet of Things Consulting and System Integration (IoT C&SI) survey.

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