Biz Updates: Government Removes Export Duty from Usna Rice; 7 New Services for BSNL Customers
New Delhi| The central government has removed export duty on Usna rice. An order in this regard was issued by the government on Tuesday. Till now there was 10% export duty. This decision is likely to increase exports from India in the international market. This decision was taken in the recent high level cabinet level meeting. It has also been decided to abolish the minimum export price of non-Basmati white rice. But no order has been issued by the government in this regard yet.
Bharat Sanchar Nigam Limited (BSNL) on Tuesday introduced seven new services to woo customers. These range from ‘spam blockers’ to automatic SIM kiosks and direct-to-device services. The telecommunications company has also launched a low-delay 5 G liaison service for mining operations in partnership with CDAC. Launching the services, Telecom Minister Jyotiraditya Scindia said, BSNL has been serving the people for years by achieving various achievements. BSNL will have 1,00,000 4 G sites by the middle of next year, some of which will have 5 G service, he said. On the other hand, the company’s Chairman and Managing Director Robert Ravi said, we will not increase the telecom service charges in the near future. Our focus is on winning the trust of customers.
To create the country’s largest media company, Reliance Industries and Walt Disney will have to sell seven TV channels. Two months after approving the merger of the media businesses of the two companies, the Competition Commission of India (CCI) said in a detailed order that companies should not add TV advertising slots for cricket rights until the existing rights are exhausted. With this merger, a media company worth 70,000 crores will come into existence.
The RBI on Tuesday revised the warning list of unauthorized foreign exchange (Forex) trading platforms to add 13 more companies, including TDFX and Enefex. This brings the number of units included in the list to 88. The list includes TDFX and Enefex along with Ranger Capital, Growline, Think Markets, YorkerFX, Smart Prop Trader, FundedNext, FX Road, Weltrade, FreshForex, DBG Markets and PlusOntrade.
Recovering from losses, Paytm has made a net profit of Rs 928.3 crore in the second quarter of the current financial year. A year ago it had a loss of 290.5 million. This includes a profit of 1,345 crore from entertainment ticketing sales, said One97 Communications, parent company of Paytm.
Raymond Lifestyle plans to open hundreds of stores over the next three years. For this, it will recruit 9,000 employees. Gautam Singhania, chairman of Raymond Group, said the company plans to recruit an average of 10 people per outlet for the 900 stores to be opened. Agency
Adani Group will acquire CK Birla Group company Orient Cement at a valuation of Rs 8,100 crore. Ambuja Cements, part of the group, will acquire 46.8 per cent share of Orient Cement from its current promoters and some public shareholders.
