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Petrol, diesel to cost more

August 1, 2013

Petrol_dieselNew Delhi, Aug 1: Resorting to the fifth increase since June-beginning, public sector oil firms hiked petrol prices by Re 0.70 per litre from Wednesday-Thursday midnight. Diesel prices too moved up by Rs 0.50 per litre. The price increase excludes VAT or local taxes.

After the hike, petrol prices for Bangalore will be Rs 78.12 per litre, in NewDelhi Rs.71.28, in Kolkata Rs 78.64, Mumbai Rs 78.61 and Chennai Rs 74.49.

A sharp fall in the value of the rupee has made oil imports costlier and put pressure on the marketing firms as they supply diesel at subsidised rates. OMCs review petrol and diesel prices once every two weeks.

“Since the last price change, the international price of petrol has gone up from $117.19 per barrel to $120.05. The INR-USD exchange rate, however, has marginally appreciated from Rs 60.03 to a US dollar to Rs 59.49,” said India’s largest fuel retailer IOC in a statement.

Two other state-run fuel retailers — Bharat Petroleum and Hindustan Petroleum — are expected to follow suit as they tend to move their prices together. IOC also said it would end the fiscal with a revenue loss of Rs 1.29 lakh crore on sale of diesel, domestic cooking gas (LPG) and kerosene.

The basic diesel prices were hiked by Re 0.50, but the actual hike after adding VAT would be only Re 0.10 in Bangalore, and the price will go up to Rs 55.49 per litre. An IOC official in Bangalore clarified that although the actual hike was Re 0.50, the effective hike would be only Re 0.10 because a reduction in sales tax is coming into effect from Thursday.

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Agencies
January 7,2020

New Delhi, Jan 7: Services at various bank branches and ATMs are likely to be affected as hundreds of employees will go on a bank strike across the country on Wednesday.

The bank strike is part of the Bharat Bandh call given by trade unions to protest against the labour reforms and economic policies of the Central government, according to reports.

The protestors' main demand during the Bharat Bandh is that the Centre should drop the proposed labour reforms.

A Bill in this regard was passed and proposes to merge 44 labour laws into four codes -- wages, industrial relations, social security, and safe working conditions.

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Agencies
July 15,2020

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

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Agencies
August 4,2020

New Delhi, Aug 4: India witnessed a single-day spike of 52,050 COVID-19 cases as the total cases in the country reached 18,55,746, the Union Ministry of Health and Family Welfare said on Tuesday.

803 COVID-19 related deaths were reported in the last 24 hours. The total cases include 5,86,298 active cases, 12,30,510 cured/discharged/migrated and 38,938 deaths, the Health Ministry added.

Maharashtra continues to be the worst-affected state as it has a total of 1,47,324 active cases and 15,842 deaths. A total of 4,50,196 coronavirus cases have been recorded in the state up to Monday, according to Union Ministry of Health.

Tamil Nadu reported 5,609 new COVID-19 cases and 109 deaths on Monday, taking total cases to 2,63,222 including 2,02,283 discharges and 4,241 deaths, the state Health Department said.

The total cases in Delhi have risen to 1,38,482 including 1,24,254 recovered/discharged/migrated cases and 4,021 deaths, according to the Ministry of Health.

Meanwhile, India recorded the highest single-day testing by conducting over 6.6 lakh tests to diagnose COVID-19 in the last 24 hours.
"In its fight against COVID-19, India scales a new high of 6,61,715 tests in the last 24 hours," said the Health Ministry in a tweet.

A total of 2,08,64,206 samples for COVID-19 have been tested across the country so far, said the Health Ministry.

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