Ajay Banga to hang up his boots at Mastercard on December 31

Ajay Banga, one of the topmost Indian-American corporate leaders, and a strong advocate of India-US relationship, would retire from Mastercard at the end of the year, the global credit card company has said. Announcing the retirement on Tuesday of its executive chairman, Banga, effective on December 31, Mastercard Board unanimously elected Merit Janow, currently lead… Continue reading Ajay Banga to hang up his boots at Mastercard on December 31

Covid Vaccine: Syringe manufacturers are ramping up

The Centre is looking to procure around 1 billion syringes between September and December to support the COVID-19 vaccination drive, reports Sohini Das/Business Standard. With vaccine production picking up, the demand for syringes has shot through the roof. Leading syringe maker Hindustan Syringes & Medical Devices feels demand may soon outstrip supply. For instance, the… Continue reading Covid Vaccine: Syringe manufacturers are ramping up

Elite Guinea army unit said it has toppled long-time President Alpha Conde

Special forces soldiers appeared on Sunday to have ousted Guinea's long-serving president Alpha Conde. The soldiers told the nation they had dissolved its government and constitution and closed its land and air borders. Special forces soldiers appeared on Sunday to have ousted Guinea's long-serving president, telling the nation they had dissolved its government and constitution… Continue reading Elite Guinea army unit said it has toppled long-time President Alpha Conde

PayU buys BillDesk for $4.7 bn in one of largest Indian fintech deals

Over the next three years, RBI expects more than 200 million new users to adopt digital payments, with the average annual transactions per capita rising tenfold from 22 to 220. Prosus-backed fintech firm PayU is set to acquire India’s earliest payment gateway BillDesk in an all-cash transaction of $4.7 billion. This will be the largest… Continue reading PayU buys BillDesk for $4.7 bn in one of largest Indian fintech deals

USA Gymnastics proposed plan has $425 million for Nassar abuse survivors

A USA Gymnastics reorganization plan includes up to $425 million for survivors who say they were sexually abused by former team doctor and convicted sex offender Larry Nassar. The dollar amount is contained in court documents filed with an Indiana bankruptcy court Tuesday, and the organization said it was reached with a survivors' committee. Hundreds… Continue reading USA Gymnastics proposed plan has $425 million for Nassar abuse survivors

Stocks: ‘Third wave will bring near-term challenges’

‘Companies with a strong business case and healthy balance-sheet should sail through and emerge more robust in the future.’ It has been a choppy ride for the markets in the past fortnight as they took cues from the global developments. Sachin Trivedi, senior vice-president, head of research and equity fund manager at UTI AMC, tells… Continue reading Stocks: ‘Third wave will bring near-term challenges’

Australia says it is 'seriously concerned' about journalist's yearlong detention in China

The Australian government said Friday that it remained seriously concerned about the welfare of a Chinese-born Australian journalist a year after she was first detained in China. Foreign Minister Marise Payne said the country expected "basic standards of justice, procedural fairness and humane treatment to be met, in accordance with international norms." In February, China… Continue reading Australia says it is 'seriously concerned' about journalist's yearlong detention in China

Australia says it is 'seriously concerned' about journalist's yearlong detention in China

The Australian government said Friday that it remained seriously concerned about the welfare of a Chinese-born Australian journalist a year after she was first detained in China. Foreign Minister Marise Payne said the country expected "basic standards of justice, procedural fairness and humane treatment to be met, in accordance with international norms." In February, China… Continue reading Australia says it is 'seriously concerned' about journalist's yearlong detention in China

Mumbai all set for its BIGGEST infra transformation

New roads, rail and metro networks along with ferry services will improve East-West connectivity, which will trigger an increase in real estate prices in the area as well as in Navi Mumbai, on the other side of the bay. Dev Chatterjee & Raghavendra Kamath report. Mumbai, India’s financial capital, is set for a mega transformation… Continue reading Mumbai all set for its BIGGEST infra transformation

Assailant in Pentagon police killing was booted out of Marines, recently arrested

The man who killed a Pentagon police officer this week was a U.S. Marines washout who had recently been arrested in Georgia for several criminal charges, court records say.  Austin Lanz exited a bus at the Pentagon Transit Center Tuesday morning and immediately attacked Officer George Gonzales, fatally stabbing him. Lanz then shot himself with… Continue reading Assailant in Pentagon police killing was booted out of Marines, recently arrested

Assailant in Pentagon police killing was booted out of Marines, recently arrested

The man who killed a Pentagon police officer this week was a U.S. Marines washout who had recently been arrested in Georgia for several criminal charges, court records say.  Austin Lanz exited a bus at the Pentagon Transit Center Tuesday morning and immediately attacked Officer George Gonzales, fatally stabbing him. Lanz then shot himself with… Continue reading Assailant in Pentagon police killing was booted out of Marines, recently arrested

A peek into Mukesh Ambani’s big retail push

The acquisitions straddle diverse areas from niche stores like Hamleys for toys and lingerie store Zivame to digital pharmacy Netmeds and omni-channel furniture and home décor retailer Urban Ladder. Mukesh Ambani’s Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest… Continue reading A peek into Mukesh Ambani’s big retail push

U.S. sanctions Cuban officials over crackdown on protests as Biden warns: 'This is just the beginning'

The Biden administration imposed sanctions on Cuba's defense minister and the communist nation's special forces brigade for the repression of peaceful protests that broke out on the island last week. Last week, thousands of protestors filled the streets over frustrations with a crippled economy hit by food and power shortages. President Biden warned Cuba's government… Continue reading U.S. sanctions Cuban officials over crackdown on protests as Biden warns: 'This is just the beginning'

India Inc getting back in biz with no-jab-no-entry policy

Those who have been advised not to take the shot on medical grounds are exempted from the policy. With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe-–from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it’s an all-out effort to prevent the scale of devastation… Continue reading India Inc getting back in biz with no-jab-no-entry policy

Ambani’s Target: China, not Adani

Reliance’s big-bang entry across the solar ecosystem will cut dependence on Chinese imports drastically.And Ambani’s repeated emphasis that RIL’s new energy foray will be ‘a truly global business’ points that his group is playing not just for a share of the Indian pie but to be the OEM in the larger 5,000 GW global market… Continue reading Ambani’s Target: China, not Adani

HDFC Bank’s S Jagdishan: ‘Not a P&L person’

‘He’s at best a holding-CEO. Not one who will re-imagine the bank,’ a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan. It is rare to find a corner-room occupant being candid about an organisation’s shortcomings in the annual report. In his first note to shareholders, Sashidhar Jagdishan,… Continue reading HDFC Bank’s S Jagdishan: ‘Not a P&L person’

Fire erupts on ship, causing explosion that rocks Dubai

The blaze sent up giant orange flames on a vessel docked at the crucial Jebel Ali Port, the busiest in the Middle East, which sits on the eastern side of the Arabian Peninsula. The combustion unleashed a shock wave through the city, shaking buildings and windows in neighborhoods as far as 25 kilometers (15 miles)… Continue reading Fire erupts on ship, causing explosion that rocks Dubai

Nasper-backed PayU in talks to acquire BillDesk for up to $4 billion

BillDesk founded in 2000, by a team of ex-Arthur Anderson professionals, handles 50-60 per cent of billing transactions in India. Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. “BillDesk has been open… Continue reading Nasper-backed PayU in talks to acquire BillDesk for up to $4 billion

What Kia hopes to achieve by adding India to name

‘It says, we are not just an overseas player — we are Kia India and here for good’ It’s not unusual for automotive players to change their names when they are acquired by another firm or are operating in foreign markets to avoid the possibility of their brand name turning out to mean something other… Continue reading What Kia hopes to achieve by adding India to name