Cash-strapped hospitality chain Hotel Leelaventure has defaulted in payment of quarterly interest of Rs 2.12 crore to Life Insurance Corporation of India (LIC). Hotel Leelaventure, which currently has a debt of over Rs 3,600 crore, had issued secured redeemable non-convertible debentures on private placement basis aggregating to Rs 90 crores to LIC in December, 2008.

Known for dispatching the best software talent across the world for years, India has now embarked upon a Cloud-driven journey to prepare the Next-Gen of skilled workers — data scientists, Artificial Intelligence (AI) Mavericks and mobile developers. The task is humongous and online retail giant Amazon’s Cloud business arm Amazon Web Services (AWS) has now fast-tracked skilling the young — providing them early access to its core Cloud platform that has already transformed millions of enterprises and start-ups globally.

NEW DELHI: The benchmark BSE Sensex got off to a lower start today, tracking a sell-off in global markets amid escalating trade war worries.

The 30-share index, which had lost 114.94 points in the previous session, was down 53 points at 35,379.65 at 10.07 am. Capital goods, realty, infrastructure, power, healthcare and metal stocks showed weakness, falling by up to 0.35 per cent.

New Delhi, Jun 22 () Telecom industry body COAI has said auction of spectrum for 5G services should happen only around the second half of 2019 as it would offer telcos better visibility into market dynamics and potential revenue streams of the next-generation mobile services.

The Department of Telecommunications (DoT) is expected to clear the merger of Vodafone India and Idea Cellular early next week. Both the companies, however, may have to pay one-time-spectrum-charges (OTSC) dues, though these are under challenge in the court. The DoT is expected to ask Vodafone for Rs 5,650 crore – or a bank guarantee – and Idea for Rs 2,113 crore for its OTSC dues.

Over the last week, Bank of Baroda (BoB) has put on sale non-performing assets (NPAs) worth Rs 7,655 crore, including its exposures to some accounts named in the Reserve Bank of India’s (RBI) two lists of bankruptcy cases, such as Essar Steel, Bhushan Power & Steel, Soma Enterprise and Visa Steel. BoB’s aggregate exposure to these accounts is Rs 3,004 crore.

Irked by the slow progress made by banks in addressing security concerns around automated teller machines (ATMs), the Reserve Bank of India (RBI) on Thursday set certain compliance timelines. RBI added that any deficiency in timely and effective compliance with the instructions may invite “appropriate supervisory enforcement action”.

India’s LNG imports were flat m/m in May but rose 17% y/y, boding well for PLNG where Dahej unit was also steady at ~110% in April/May. We keep our BUY as we do on Gail where earnings risks appear skewed on the upside even if trans. volumes do rise materially NT and valuations are inexpensive. Expectations are modest for ONGC too where higher oil and gas prices would lift earnings in FY19E even if subsidies cap realizations in domestic oil assets and HPCL.

KOLKATA: Coal-fired power plants with total installed capacity of around 9,000 MW are asking for extension of temporary coal supply contracts for at least six years, since they have not been able to start production from the captive blocks allotted to them more than three years ago.

The Securities and Exchange Board of India (Sebi) has made major changes in rules governing fund-raising, to provide flexibility to issuers and to boost capital formation.

The regulator tweaked norms governing stock exchanges, clearing corporations and depositories —known as market infrastructure institutions (MIIs) — capping the tenure of top officials and bringing in more accountability to the board structure.

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