Uttar Pradesh hotels to serve liquor till 4 am
Sanjay Bhoosreddy, Principal Secretary of State Excise Department, said that the move is aimed at enhancing the revenue of the government.
Sleepless Mumbai is waking up slowly
The government of Maharashtra has approved the proposal of allowing malls, shops and restaurants to remain open 24/7 starting this week. Hotel and Restaurant Association of Western India president Dilip Datwani said the move should lead to an increase in employment besides giving a fillip to the tourism industry.
2M Holdings to set up escalator manufacturing unit in Kerala
2M Holdings, the holding company of 2M components and 2M lifts and escalators, is setting up its first escalator manufacturing unit at Kanjikode in Palakkad in Kerala.
GfK ramps up India operations with strategic investment
The company had partnered with IBM to set up the new center as a build-operate-transfer model. After a start-up phase of around 18 months, IBM has handed over full operations to GfK. GfK will continue to improve quality, speed and productivity under its new management team, it said in a media release.
TVS Group auto parts maker sets up unit in Sri City
Sundram Fasteners has invested Rs 100 crore in the facility, which exported its first order to Germany to a European manufacturer– supplying to marquee OEMs– on Tuesday.
First-ever Atari-themed hotel coming up in US
The first location of Atari Hotels will be Phoenix, Arizona, with the construction beginning in mid-2020.
Government notifies rules for winding up of companies under Companies Act
Petitions for winding up of companies are subject to various conditions, including thresholds on turnover and paid-up capital. Akila Agrawal, Partner & Head (M&A) at law firm Cyril Amarchand Mangaldas, said the rules seek to inter-alia reduce the burden of the NCLT by enabling summary procedures for liquidation to be filed with the central government.
Infosys sets up team to scale platform unit
The platforms could be proprietary software used to host educational content or process mortgages. IT companies are betting on a platform play to help offset margin contraction caused by the increasing commoditisation of their core business. Software companies need to make one-off investments in building the platform, but the returns could be exponential if a slew of customers adopt it.
Gold inches up as virus fears mount; markets await Fed decision
US gold futures fell 0.2 per cent to $1,567.10.
Share market update: Nifty Energy Index up; HPCL rises 2%
The Nifty Energy index was trading 0.85 per cent up at 15493.7 .
Tata Motors climbs 5% as Edelweiss ups target price
“We envisage TML’s efforts to yield sustainable profitability and cash flow," said Edelweiss.
China flexes oil refining muscle, upping pain for Asian rivals
Asian benchmark refining margins for diesel, jet fuel are already languishing at more than 2-yr lows
Trade demands opening up of onion exports as prices slide rapidly
Onion prices have been ruling around Rs 100 a kg in retail for close to three months as excess unseasonal rainfall damaged the delicate crop across the country. On Thursday, medium quality onion was selling at Rs 25/kg in retail in Maharashtra. On Monday, wholesale prices fell to an average of Rs 23 a kg.
Share market update: PSU shares rise; SAIL up over 2%
The Nifty PSE index was trading 0.88 per cent up at 3145.8 .
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