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  • ritu kumar: Reliance Retail buys 52% in Ritu Kumar
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    ritu kumar: Reliance Retail buys 52% in Ritu Kumar

    NEW DELHI: Reliance Retail has acquired 52% equity in India’s oldest fashion house Ritu Kumar days after picking up a significant stake in Manish Malhotra, a desi couture label which has become the staple of Bollywood celebrities. The stake in ‘Ritika’, the parent of the 76-year-old designer’s numerous brands across categories, will give Reliance control […] More

  • India plans refiners' joint oil deals to cut import bill
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    India plans refiners’ joint oil deals to cut import bill

    NEW DELHI: India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices. The world’s third largest oil importer and consumer, India depends on imports for about 85% of its crude and buys […] More

  • ‘Vaccine passports: Double whammy for jab-nots’
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    ‘Vaccine passports: Double whammy for jab-nots’

    World Trade Organization (WTO) director general Ngozi Okonjo-Iweala lands in the capital on Wednesday to discuss ways to push the stalled global trade talks. Ahead of her meetings with top ministers and fintech players, SMEs and women entrepreneurs, the first woman to occupy the top seat in the trade body tells TOI that India needs […] More

  • Challenges abound as Tata draws up flight plan for Air India
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    Challenges abound as Tata draws up flight plan for Air India

    NEW DELHI: Tata Sons’ $2.4 billion purchase of debt-ridden, government-owned Air India will give the conglomerate immediate access to valuable flying rights and landing slots that will help it claw back market share from foreign rivals. But industry executives warn any success will be a long and complicated process that could cost it more than […] More

  • Key Evergrande deal to sell stake in unit put on hold: Report
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    Key Evergrande deal to sell stake in unit put on hold: Report

    HONG KONG/SHANGHAI: China Evergrande Group’s deal to sell a 51% stake in its property services unit has been put on hold, two people with knowledge of the matter said, in a blow to the embattled developer’s hopes of avoiding a potentially disruptive default. Evergrande, teetering on the brink of collapse with more than $300 billion […] More

  • Surge in onion prices adds another layer of pain for consumers
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    Surge in onion prices adds another layer of pain for consumers

    MUMBAI: Buying vegetables at a small market on the outskirts of Mumbai, Shubhangi Patil laments the recent rapid rise in the cost of everyday essentials, from cooking oil to sugar and now onions, a basic ingredient in most Indian food. After the cost of fuel and edible oils hit record highs, consumers like Patil are […] More

  • reliance: Reliance buy 52% stake in designer labels of Ritu Kumar
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    reliance: Reliance buy 52% stake in designer labels of Ritu Kumar

    MUMBAI: The retail unit of conglomerate Reliance Industries has acquired a 52% stake in popular designer labels of Ritu Kumar, the company said on Tuesday, in the latest bet on the country’s fast-expanding luxury designer market. Reliance Retail did not disclose financial details of the transaction, but said its majority stake acquisition included buying out […] More

  • Moody's upgrades banking system outlook to 'stable'; economic recovery to drive credit growth
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    Moody’s upgrades banking system outlook to ‘stable’; economic recovery to drive credit growth

    NEW DELHI: Moody’s Investors Service on Tuesday raised the outlook for the Indian banking system to ‘stable’ from ‘negative’ citing moderate deterioration of asset quality since the onset of the pandemic and likely pick-up in credit growth with economic recovery. Moody’s expects India’s economy to continue to recover in the next 12-18 months, with GDP […] More

  • Market snaps 7-day winning run on profit-booking; ITC tanks over 6%
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    Market snaps 7-day winning run on profit-booking; ITC tanks over 6%

    MUMBAI: Snapping their seven-session rising streak, equity benchmarks sensex and Nifty ended with marginal losses on Tuesday as investors booked profits at record levels. After touching its lifetime high of 62,245.43 during the session, the 30-share BSE sensex settled 49.54 points or 0.08 per cent lower at 61,716.05. Similarly, the Nifty shed 58.30 points or […] More

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