General Awareness

BUSINESS AND ECONOMY - February 2017

Feb 2017

May 22, 2018

Prabhat Dairy Enters Beverages Segment

Prabhat Dairy Ltd. has entered the dairy beverages segment in a bid to grow its consumer business from the current Rs. 400 crore to Rs. 1,000 crore in two years.

Beverages such as milkshakes, lassi and Chaas would be made available in retail stores in Tetra Pak. The firm plans to expand its beverage market in two phases. In phase I, it will cover Maharashtra followed by pan-India expansion in phase II next year.

PNB Downgraded to ba1

Moody's Investors Service has downgraded Punjab National Bank (PNB) from ba3 to ba1 after the completion of a rating review started after the bank was hit by letters of undertaking (LoU) scam.

CTS in 2018 Fortune 500 List

IT Services major Cognizant Technology Solutions (CTS) is 195 on the 2018 Fortune 500, Fortune Magazine's annual ranking of America's largest companies. Cognizant first debuted on the list in 2011 at No. 484 and has risen each year.

Companies in the Fortune 500 are ranked by total revenues for their respective fiscal years. Cognizant's 2017 revenue of $14.81 billion was an increase of 9.8% over 2016, moving the company up 10 spots on the 2017 Fortune 500.

May 21, 2018

India Mulls Tariff Hike on U.S. Products

In a retaliatory move, India has told the WTO that it proposes to raise duties by up to 100% on 20 products such as almonds, apple and specific motorcycles imported from the U.S. from next month, if Washington does not roll back high tariffs on certain steel and aluminium items.

India hereby notifies the Council for Trade in Goods of its decision to suspend concessions or other obligations that are substantially equivalent to the amount of trade affected by the measures imposed by the United States.

Government's Revenue from e-Visa Scheme

The government earned Rs. 1,400 crore as revenue from the highly successful e-Visa scheme, offered to citizens of 163 countries visiting India as tourists, since its launch in 2014.

As per reports, 19 lakh tourists made use of the e-Visa scheme in 2017.

The e-visa fees are divided into four slabs of zero, $25, $50 and $75, which were fixed on reciprocity and depending on nationality.

May 20, 2018

Flipkart Introduces Certified Furniture

Flipkart has introduced 'FurniSure,' a certification that assures customers 'quality and durability' of furniture available on the e-tailer's website.

This is a first-of-its-kind certification for furniture in Indian retail industry.

JP Associates Directed to Return Land to Jaypee Infratech

The National Company Law Tribunal has asked debt-ridden Jaiprakash Associates Ltd. to return almost 760 acres of land to its subsidiary Jaypee Infratech, declaring the transfer of the land as fraudulent and undervalued. The order came over a petition filed by Jaypee Infratech's resolution professional Anuj Jain in the NCLT seeking a direction over the transactions entered into by the firm's promoters, creating mortgage on its 858 acre to secure debt for JAL.

BPCL to Set up Second Bottling Plant in Odisha

State-run oil marketing company Bharat Petroleum Corporation Ltd. (BPCL) said that it would set up an LPG bottling plant at Barkhani in Odisha's Balangir district. BPCL already has an LPG bottling plant at Khurda in Odisha and this will be the second such unit in the State. The plant would have a capacity to produce 42 lakh cylinders per year.

May 19, 2018

New CMD of Coal India Ltd

Anil Kumar Jha has been appointed as the chairman-cum-managing director of Coal India Limited. Mr. Jha, at present the CMD of Mahanadi Coalfields Ltd. has been appointed to the post till his superannuation, i.e. January 31, 2020. CIL is a state-owned coal mining company headquartered in Kolkata.

Precision Camshafts Buys Emoss

Precision Camshafts Ltd. (PCL) has acquired 51% stake in Emoss Mobile Systems B.V. of the Netherlands for Rs. 58 crore. The auto parts maker has also made provision to acquire the balance 49% from the Dutch firm's promoters in due course.

The acquisition of Emoss, which offers electric powertrain solutions, marks PCL's entry into e-mobility.

NSE Gets U.S. Regulator's Exemption

The National Stock Exchange (NSE) has become the first Indian exchange to get an exemption from the Commodity Futures Trading Commission (CFTC) that will allow members of the Indian bourse to trade in derivatives for U.S. clients.

The order issued to NSE permits its members to accept U.S. customer funds directly for the purpose of trading in futures and options contracts on NSE without the members having to register with the CFTC as futures commission merchants.

Indian Companies Selected for Expansion in London

Twenty of India's fastest growing companies have been recognised by the Mayor of London Sadiq Khan. They have been picked to join his India Emerging 20 (IE20) business programme.

The firms, chosen from more than 300 applications, will receive help in setting up or expanding their business in London and will also benefit from discounted rates on a London office and advice on marketing, access to finance and market analysis.

May 18, 2018

Jio Ties Up with Screenz

Reliance Jio Infocomm Ltd. announced an exclusive partnership for the Indian market with Screenz for entertainment-based interactivity.

With this exclusive partnership, Jio Screenz will become the largest platform and one of the only integrated providers of entertainment-based gamification in India.

Jio Screenz supports various social networks like Google, Facebook and Twitter. This can be enabled on any digital App using SDK with support on Android, iOS and Jio Kai-OS.

Reliance Power Exits Tilaiya UMPP

Reliance Power has pulled out of the special purpose vehicle (SPV) set up to develop an ultra mega power project in Jharkhand.

Reliance Power has transferred its entire holding of 1,49,900 equity shares of Rs. 10 each, aggregating to Rs. 14,99,000, held in Jharkhand Integrated Power Limited, a SPV created for development of Tilaiya UMPP, to Jharkhand Urja Vikas Nigam Limited.

Lufthansa Group Ties Up with MakeMyTrip

Online travel portal MakeMyTrip has become a "Direct Connect Partner" for Lufthansa Group in India.

The tie-up will expand customers' access to innovative and even more competitive flight products from Lufthansa Group Airlines.

MakeMyTrip currently provides access to all major domestic full-service and low-cost airlines operating in India and all major airlines operating to and from India.

Domestic Air Traffic Grows

As per government data, domestic air traffic grew at a robust rate of 26% in April with various airlines together ferrying 11.5 million passengers, up from 9.1 million in the same month last year.

Budget airline SpiceJet was at the top position yet again in terms of seat utilisation per aircraft with (95.5%) followed by IndiGo (91.9%), GoAir (89.5%), Vistara (88.8%), AirAsia (87.5%), Jet Airways (85.6%) and Air India (84%).

Dai-ichi Life Acquires Stake in Union AMC

Dai-ichi Life Holdings Inc., a Japan-based financial services holding company has acquired 39.62% stake in Union Asset Management Company.

The entity acquired the stake through investment in compulsorily convertible preference shares. Union Mutual Fund would now be co-sponsored by Union Bank of India and Dai-ichi Life.

Share on

TCY Analytics (View Subscription Plans)

Subscribe to GK Updates

I want to receive

GK Tags

October GK, September GK, August GK, INTERNATIONAL AFFAIRS, ENVIRONMENT, BUSINESS AND ECONOMY, SCIENCE & TECHNOLOGY, SPORTS, NATIONAL AFFAIRS, DEFENCE, PERSONS IN NEWS, DAYS AND EVENTS, AWARDS AND HONOURS, GOVERNMENT POLICIES AND SCHEMES, GENDER/ HEALTH/ EDUCATION, ART AND CULTURE, BOOKS AND AUTHORS, TOURISM AND HOTEL INDUSTRY AWARENESS, ART AND CULTURE, LAW AND CONSTITUTIONAL AFFAIRS

Start Discussion

On any topic

Take Tests

Compiled from GK updates

Login

Sign Up

Forgot Password

Download TCY App

Unlock All Services and Enjoy The Premium Benefits

US$ 10

US$ 13

US$ 15

US$ 17

US$ 19

US$ 20

US$ 21

US$ 22

US$ 23

US$ 24

US$ 25

US$ 26