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IFC invests $35 mn in JK Paper for debt funding
International Finance Corporation (IFC) has announced to invest up to $35 million (Rs 263 crore) in paper manufacturer JK Paper. IFC has stated that it will invest by subscribing to secured non-convertible debentures (NCDs) of the Singhania Group company. The company will primarily use the funds to meet the incremental working capital needs due to the impact of the ongoing coronavirus pandemic....
DPIIT, DoT officials cautions BSNL, MTNL regarding its multinational suppliers
After the recent Indo-China standoff, and Prime Minister Narendra Modi's call for Atmanirbhar Bharat or self-reliant India, and favoured participation of homegrown companies for network deployment and expansion by state-run telcos, the Department of Telecommunications (DoT) and the Department for Promotion of Industry and Internal Trade (DPIIT) became watchful of multinational vendors....
7 million BHIM users data exposed in CSC website breach: Report
According to a report by a virtual private network (VPN) review website, millions of users of the government’s digital payment app BHIM may be vulnerable to cyber-attacks and e-frauds due to an alleged data breach....
SunTec launches its Xelerate platform on AWS Cloud
SunTec has announced to work with Amazon Web Services (AWS). The company is offering its Xelerate platform and products on AWS Cloud. The Xelerate platform and products have been optimized to leverage the cloud capabilities of AWS....
HSBC launches AI based First Equity Index products
HSBC along with IBM Watson and artificial intelligence specialist EquBot has teamed up to launch equity index products powered by AI and big data. The bank says its new AI Powered US Equity Index (AiPEX) family is the market’s first to use artificial intelligence as a method for equity investing....
WarnerMedia unveils HBO Max in US
WarnerMedia has officially launched its new streaming platform, HBO Max. It is featuring a leading collection of content curated from across WarnerMedia’s legendary catalog and a roster of new Max Originals, plus fan-favorite acquired franchises and films....
Cabinet Minister Piyush Goyal interacts with Pharma industry, India recognized as world's pharmacy
Cabinet Minister Piyush Goyal interacted via video conferencing with the captains of the pharmaceutical industry, and office-bearers of the pharma associations. The meeting was attended by the Ministers of State HS Puri and Som Parkash, Secretaries of the Department of Commerce, and Pharmaceuticals, and officers from Departments of Commerce, Pharmaceuticals and Health....
NASA picks three Indian companies for low cost COVID-19 ventilators
Three Indian companies; Alpha Design Technologies, Bharat Forge and Medha Servo Drives, have got licences from NASA to manufacture its indigenously developed ventilators for critical COVID-19 patients, the space organisation said in a statement....
MeitY's Gopalakrishnan elevated to Additional Secretary in PMO
According to a notification issued by the Department of Personnel & Training (DoPT), PM Modi’s government on Friday reshuffled and elevated as many as 23 top officials across departments. The secretariat has said in a statement that the Appointments Committee of the Cabinet (ACC) has approved the new appointments....
Goldfinch buys 80% stake in Vesta for $125 million
To acquire 80% stake in Vesta, Venture capital firm Goldfinch Partners has spent $125 million. Vesta is a fraud protection and e-commerce payments outfit....