Cairn sues Air India in US to recover $1.2 billion retro tax award against govt – Times of India

Cairn sues Air India in US to recover $1.2 billion retro tax award against govt - Times of India

NEW DELHI: Scottish explorer Cairn Energy Plc has sued loss-making Air India in a US court to force recovery of a $1.2 billion international arbitration award it won in December against the Indian government’s retrospective tax claim, a move that could bog down disinvestment of the state-run national carrier. Cairn filed the lawsuit in the … Read more

Chip Shortage to Cost Automakers $110 Billion in Revenues in 2021

Chip Shortage to Cost Automakers $110 Billion in Revenues in 2021: AlixPartners

The global semiconductor chip shortage will cost automakers $110 billion in lost revenues this year, up from a prior estimate of $61 billion, consulting firm AlixPartners said, as it forecast the crisis will hit the production of 3.9 million vehicles. The chip crunch has driven home the need for automakers to be “proactive” right now, … Read more

Cairn Begins Process To Seize Indian Overseas Assets To Recover $1.7 Billion

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Cairn has hired hiring a team of asset recovery experts to recover the damages. New Delhi: UK’s Cairn Energy Plc has brought a lawsuit in the US to pierce the corporate veil between the Indian government and its owned flag carrier Air India so as to seize its overseas assets to recover USD 1.7 billion … Read more

Cairn Energy sues Air India to enforce $1.2 billion arbitration award – Times of India

Cairn Energy sues Air India to enforce $1.2 billion arbitration award - Times of India

MUMBAI/NEW YORK: Cairn Energy has sued India’s flagship carrier Air India to enforce a $1.2 billion arbitration award that it won in a tax dispute against India, according to a US District Court filing reviewed by Reuters. The move ratchets up pressure on India’s government to pay the sum of $1.2 billion plus interest and … Read more

Ethereum Cryptocurrency Co-creator Is Donating $1 Billion As India Battles The Deadly COVID Wave

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Vitalik Buterin, co-creator of the crypto network Ethereum, has made a cryptocurrency donation for India’s relief funds as the country battles the latest deadly COVID-19 wave. In fact, he made the donation also using the digital coin Shiba Inu, which has been gaining popularity off late. Well, at least the cryptocurrency donation was $1 billion … Read more

SoftBank Group: SoftBank posts record $37 billion profit – Times of India

SoftBank Group:  SoftBank posts record $37 billion profit - Times of India

BENGALURU: A flurry of successful IPOs from Asian companies helped SoftBank report a record profit in the fourth quarter ended March. The Japanese conglomerate may continue to do well over the year, with three of its Indian portfolio companies — In-Mobi, Policybazaar and Delhivery — expected to go public over the next few months. Softbank … Read more

California governor proposes $12 billion to house state’s homeless – Times of India

California governor proposes $12 billion to house state's homeless - Times of India

The nation’s most populous state county has an estimated 161,000 people experiencing homelessness, which is more than any other state. AP Photo SAN FRANCISCO: California Gov. Gavin Newsom on Tuesday proposed $12 billion in new funding to get more people experiencing homelessness in the state into housing and to “functionally end family homelessness” within five … Read more

Ambitious target of $400 billion exports can be achieved this year: Piyush Goyal – Times of India

Ambitious target of $400 billion exports can be achieved this year: Piyush Goyal - Times of India

Union minister Piyush Goyal (File photo) NEW DELHI: A sharp rise in exports in April is giving a hope that the ambitious target of $400 billion merchandise shipments can be achieved this year, commerce and industry minister Piyush Goyal said on Tuesday. He also said that the department of commerce has taken up several issues … Read more

Forex reserves surge by $3.91 billion to $588.02 billion – Times of India

Forex reserves surge by $3.91 billion to $588.02 billion - Times of India

MUMBAI: The country’s foreign exchange reserves swelled by $3.913 billion to reach $588.02 billion in the week ended April 30, 2021, RBI data showed on Friday. In the previous week ended April 23, the reserves had risen by $1.701 billion to $584.107 billion. The forex kitty had touched a lifetime high of $590.185 billion in … Read more

RBI Says $6.7 Billion In Cheap Loans For Vaccine Makers, Hospitals

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The new measures aim to improve access to emergency health care during the pandemic. (File) Mumbai: India’s central bank released $6.7 billion in cheap financing for vaccine makers, hospitals and other health firms on Wednesday, to counter the devastating coronavirus surge gripping the country. Reserve Bank of India Governor Shaktikanta Das said cheap loans would … Read more

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