Corporate

A Bangalore based startup - Devic Earth Private Limited has raised its first institutional funding of Rs 10 crores from Blue Ashva Sampada Fund. The green technology company will use the fund to expedite its growth, product roadmaps, as well as an operational presence in global markets. Devic Earth is uniquely placed across markets with its products that are scalable and sustainable, to provide user-friendly solutions to problems arising due to air pollution....

Reliance Industries Ltd and its partner BP Plc of UK have committed to pay in cash for any natural gas volumes they are unable to deliver to customers from the next wave of discoveries in the eastern offshore KG-D6 block. According to draft gas sales and purchase agreement (GSPA) Reliance and BP have shared along with price discovery bids for...

Reliance Retail Limited (RRL), Reliance Jio Infocomm Limited (RJIL), or any other affiliate of the parent company, Reliance Industries Limited, have not engaged in any “corporate” or “contract” farming in the past, and have absolutely no plans to enter this business, the company said in a statement released to the media on Monday. The media release came on Monday when...

Alibaba Group founder Jack Ma, who has been under China government's scrutiny since the abrupt suspension of Ant's blockbuster $37 billion initial public offering (IPO) in Shanghai and Hong Kong has not been seen in public for more than two months, according to some media reports. Reports suggest that Jack Ma did not even shown up for the final episode...

The government has invited initial bids for 26 per cent stake in the state-owned defence and engineering company BEML, as part of Prime Minister Narendra Modi government's plans to privatise state-run companies such as Bharat Petroleum Corporation Limited, Container Corporation of India, Shipping Corporation of India and Air India. The government holds just over 54 per cent in BEML. The...

China will take "necessary measures" to safeguard the interests of its companies after the New York Stock Exchange (NYSE) began delisting three Chinese telecom firms that Washington says have military ties, the country's commerce ministry said on Saturday. The NYSE said on Thursday that it would delist China Mobile, China Unicom and China Telecom following President Donald Trump's move in...

Alibaba shares slumped 9 per cent to their lowest since June on Monday, as the firm's upsized $10-billion buyback programme failed to ease concerns about a regulatory crackdown on co-founder Jack Ma's e-commerce and financial empire. A sharp selloff over two sessions has knocked almost $116 billion off the tech giant's Hong Kong-listed shares. The downward spiral intensified when Chinese regulators...

China's central bank disclosed on Sunday it had asked the country's payments giant Ant Group to shake up its lending and other consumer finance operations, the latest blow to its billionaire founder and controlling shareholder Jack Ma. The announcement came more than a month after Chinese regulators abruptly suspended Ant's blockbuster $37 billion initial public offering in Shanghai and...

Anupam Rasayan, a specialty chemical company based in Surat, has filed preliminary papers viz. draft red herring prospectus with the markets regulator Securities and Exchange Board of India (Sebi) to raise ₹ 760 crore through the primary market. The company will reserve a portion of the IPO for its employees and may also consider a discount for eligible staff,...

Cyber-security expert Steven Adair and his team were in the final stages of purging the hackers from a think tank's network earlier this year when a suspicious pattern in the log data caught their eye. The spies had not only managed to break back in – a common enough occurrence in the world of cyber incident response – but they...