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RIL announces payment schedule for balance amount of rights issue

New Delhi: Reliance Industries Limited (RIL) has announced the payment schedule for the balance amount of its rights issue which opens on Wednesday. In a filing with the stock exchanges, RIL said that 25 per cent will be payable in May 2021 and the remaining 50 per cent in November 2021. The Rights Issue Committee of the Board of Directors, …

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Cement dealers staring at 30% demand contraction

New Delhi: Cement dealers across the country expect a significant slackening in sales, elongated credit period to retailers, and higher working capital needs in the wake of the Covid-19 pandemic this fiscal, a survey on the sector has said. The CRISIL Research survey said that whopping 93 per cent of the respondents expected volumes to shrink 10-30 per cent in …

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BIZ SCAN

Online courses held PANAJI: The Shree Rayeshwar Institute of Engineering and Information Technology (SRIEIT) have guided, encouraged and helped 192 students out of the total number of students who had registered for online courses, to receive 462 digital certificates for having successfully completed various online courses amid the Covid-19 lockdown. The students of SRIEIT engaged themselves in various productive online activities …

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74% consumers in red zones only for essentials: Survey

IANS New Delhi Discretionary spending has taken a massive hit as consumers are deferring non-essential purchases due to the uncertainty caused by the spread of coronavirus. According to a survey by Local Circles, consumers in red zones were asked once the lockdown is relaxed in their areas what items would they spend on, to which 74 per cent consumers said …

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Karnataka new law to allow farmers to sell crop for best price

IANS Bengaluru Karnataka is amending the law to enable its farmers to sell their crop for the best price even outside the APMCs, said Chief Minister B S Yediyurappa on Friday. “The Karnataka Agricultural Produce Marketing Committees (APMCs) Act is being amended to empower millions of our farmers to sell their produce for the best price in the APMC yard …

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‘ICGS Sachet’ e-commissioning ceremony at Goa Shipyard Limited

NT NETWORK Vasco In a unique and first of its kind ceremony, Defence Minister Rajnath Singh dedicated state-of-the-art new generation Offshore Patrol Vessel (OPV), ‘ICGS Sachet’ to the nation during e-commissioning ceremony held at Goa Shipyard Limited (GSL) on Friday.  The ship has been designed in-house and built by GSL and was delivered to Indian Coast Guard on February 24, …

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GSIA welcomes schemes for MSMEs

NT NETWORK Vasco Goa State Industries Association (GSIA) has welcomed the announcement made by the Finance Minister Nirmala Sitharaman regarding 3 lakh crore collateral free loans to MSMEs with 12 months of moratorium out of the total economic package of 20 lakh crore which was announced by Prime Minister Narendra Modi. “We hope the banks will be proactive in implementing …

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Zomato lays off 13% workforce, up to 50% salary cut for rest

IANS New Delhi Hit hard by the Covid-19 pandemic, Zomato CEO Deepinder Goyal on Friday announced to lay off nearly 13 per cent of its workforce — over 600 employees — via Zoom calls, along with salary cuts for the rest of the employees for at least the next six months starting June, with higher cuts going up to 50 …

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Opening economy will make migrants stay back: Rai

New Delhi: Favouring the opening up of the industries and economic activities in Delhi, Labour Minister Gopal Rai said this will not just help in boosting the economy but will also give confidence to the migrants to stay back in the city. Rai said the government is ready to open up the economy but people will need to take the …

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1st installment of stimulus puts almost no financial burden on exchequer

New Delhi: The first installment of stimulus package announced by government on Wednesday will just put a burden of Rs 2,500 crore on the exchequer as all other measures involve bank loans and guarantees have almost no of negligible fiscal impact, an expert analysis on the stimulus measures has said. So, besides paying the provident fund on behalf of both …

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