My World

My World

Govt sets up expert panel to script a turnaround story for Sail

India has set up a panel to turn around loss-making Steel Authority of India (Sail) and help the state-owned company increase production, minister of state for steel Vishnu Deo Sai said in the lower house of Parliament on

Monday.

Reuters reported in March that an expert panel was set up to revive Sail  after a government review found the company to be far less efficient than its rivals despite spending more than $10 billion in the past eight years.

Kushner Confirms Four Russia Meetings, Calls Them Insignificant

Jared Kushner confirmed four contacts with Russians during his father-in-law’s presidential campaign and the transition, but he described the encounters as unmemorable and denied colluding with the Russian government to help Donald Trump win.

In the most consequential meeting, Kushner said he agreed to meet with a Russian banker, Sergey Gorkov, on Dec. 13 at the request of the Russian ambassador to the U.S., Sergey Kislyak. He said that nothing of substance came from the meeting and he has “had no reason to connect” with Gorkov since.

Venture capital’s digital coin quandary: cash-rich startups

US venture capital firms lining up for a slice of the burgeoning digital currency market are grappling with a novel challenge -- some of the hottest tech startups that sell the coins just don’t need their money.

Only a few years ago, digital currency entrepreneurs, like other Silicon Valley peers, had to line up to pitch their ideas to venture capitalists, who controlled their destiny as virtually the only source of funding.

China hints at Doval-Yang bilateral at BRICS NSAs meet

Amid the Sikkim standoff, China today hinted that a bilateral meeting between State Councillor Yang Jiechi and National Security Adviser Ajit Doval could take place on the sidelines of a BRICS NSAs' meet here this week.

No Winners in the Gulf Feud as Saudi, Qatari Assets Converge on Oil

Investors aren’t taking sides in the biggest political crisis in the Gulf in decades because their focus has already returned to oil.

Seven weeks after Saudi Arabia led a coalition of Arab states in cutting ties with Qatar over allegations that it supports terrorism, holders of both countries’ stocks and bonds are paying almost identical risk premiums. Their five-year credit default swaps converged for the first time in two years, stocks are valued at an average 13.8 times’ projected earnings over the next 12 months, and their international bonds traded level at 3.39 percent.

Corporates may gain from losses in unorganised sector

A small firm's loss in the goods and services tax (GST) regime could be a big corporate's gain.

"Currently, in many sectors, the share of unorganised players is high. With many businesses coming under the purview of the GST, many large corporates could witness market share gains from these small players," advisory firm Centrum Wealth Research has said in a report. The better cash flow as a result of this for large business houses would help them control their working capital position.

House bids farewell to President Mukherjee

Outgoing President Pranab Mukherjee on Friday expressed concern over the declining amount of time spent in lawmaking, saying Parliament should adequately scrutinise and debate laws before they are enacted. “It is unfortunate that the parliamentary time devoted to legislation has been declining,” he said at a farewell function in Parliament attended by Vice President Hamid Ansari and Prime Minister Narendra Modi, besides others.

Chandra hints at consolidation

Emphasising that there will “definitely” be pruning of the Tata portfolio, Tata Sons chairman Natarajan Chandra­sekaran has said the company will not exit a business “just to get a headline” but only when it is certain the group is not getting returns from it.

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