By Administrator_India Capital Sands The Centre has asked all its departments to review service records of employees who have completed 30 years in job to identify inefficient or corrupt staff and retire them prematurely in public interest, according to a Personnel Ministry order. The employees’ performance review is conducted under the Fundamental Rule (FR) 56 …
By Administrator_India Capital Sands Salesforce.com Inc. plans to cut about 1,000 jobs, people familiar with the situation said, a move by the software giant to streamline its business even as it reports record quarterly revenue and forecasts further gains. Sales and customer-support roles are among those being eliminated, said two of the people, who asked …
By Administrator_India Capital Sands Education technology company Byju’s has raised $122 million from Russian billionaire Yuri Milner’s investment fund DST Global. The financing is part of its ongoing funding round. Byju’s is allotting 42,666 Series F preference shares at an issue price of Rs 213,042.13 per share, show regulatory filings, according to Entrackr, a new …
By Administrator_India Capital Sands A potential COVID-19 vaccine developed in Australia has showed positive results in human clinical trials. The vaccine candidate has shown zero side effects in human trials so far and has shown promising results when tried on animals. In July, the University of Queensland (UQ) and Australian biotech giant CSL began the trial …
By Administrator_India Capital Sands States might lose Rs 3 trillion in their own revenues this year thanks to the pandemic and the slow recovery of economic activity, State Bank of India said in a report. Add to that the share of the Centre’s tax revenues and additional expenditure lost, and states could be staring at …
By Administrator_India Capital Sands Stressed telecom major Vodafone Idea may pay interest dues of around Rs 500 crore to lenders in the December quarter. The company has informed lenders it will clear accrued interest on outstanding loans after availing the six-month moratorium, which will end on August 31, according to a report by The Economic Times. Vodafone Idea …
By Administrator_India Capital Sands Former United States vice president Joe Biden on August 20 accepted the Democratic Party’s presidential nomination for the upcoming election. Accepting the nomination, Biden urged American voters to come together to end a “season of darkness” that has cloaked the US for “much too long”. “Here and now I give you my word, …
By Administrator_India Capital Sands State Bank of India priced the country’s biggest offering of local-currency tier-II bonds yet as the lender boosts its capital buffers amid the worsening financial health of domestic companies. India’s largest bank looks to raise Rs 8,931 crore ($1.19 billion) through 15-year bonds that comply with Basel III capital norms, according …
By Administrator_India Capital Sands Former Reserve Bank deputy governor N S Vishwanathan on Tuesday said there is a need to separate governance of state-run banks from the government and pitched for doing away with the nationalisation laws from which the executive derives its powers. Privatisation is a bigger political decision and not an economic one alone, Vishwanathan …
By Administrator_India Capital Sands The Enforcement Directorate has registered a case of money laundering against a Chinese national in connection to a hawala racket worth an estimated Rs 1,000 crore. Charlie Peng, who also goes by the name of Luo Sang, has been booked under the Prevention of Money Laundering Act (PMLA). The racket, which …
Mouthpiece1