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Tata Steel Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Tata Steel Mining has completed the acquisition of remaining 10 per cent equity stake in Rohit Ferro-Tech (RFT) for Rs 20 crore, according to a company statement. On April 12, Tata Steel said its subsidiary Tata Steel Mining Ltd (TSML) has completed the acquisition of 90 per cent stake in RFT in accordance with the approved resolution plan under Insolvency and Bankruptcy Code 2016. The investment from TSML in RFT was made through a combination of equity of Rs 10 crore and inter-corporate loan of Rs 607.12 crore, the company had said. In a regulatory filing on Thursday, the steel giant said the acquisition of 10 per cent equity stake held by the Financial Creditors (FCs) in RFT was completed on June 22, 2022 for approximately Rs 20.06 crore. In a bid to augment its … [Read more...] about Tata Steel Mining completes 100% acquisition of Rohit Ferro-Tech

HCL Tech: HCL Tech to acquire Bengaluru-based Quest Informatics for Rs 15 cr cash. HCL Technologies (HCL), announced it will acquire Bengaluru-based Quest Informatics (Quest), an aftermarket, Industry 4.0 and IoT company, in an all-cash deal worth Rs 15 crore. The company founded in 2000, had revenue of Rs 13.6 crore for FY21. It has come down from Rs 18.6 crore reported in FY20. HCL Technologies also adopts Intelligent Data Migration Platform from Syniti. Pact to provide customers with improved data management strategy and higher quality data. Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Indian IT services company HCL Technologies on Friday announced the opening of its new delivery centre in Vancouver, Canada. The centre will "significantly" expand the company's presence in the country to serve clients primarily in the hi-tech … [Read more...] about HCL Tech opens new global delivery centre in Vancouver

Republican Iowa Sen. [crscore]Chuck Grassley[/crscore], the chairman of the Senate Judiciary Committee, is questioning whether Hillary Clinton paid legal and public relations expenses for a former State Department aide and a tech company that worked on her private email system. “As you are aware, such arrangements can pose conflict-of-interest issues,” Grassley wrote in a letter he sent on Tuesday to attorneys representing Clinton and several of her State Department aides, including Bryan Pagliano, the IT staffer who managed Clinton’s email system while she was secretary of state. Grassley appears concerned that Clinton’s former aides and the tech companies she has hired to manage her mysterious email system would continue to work on her behalf rather than provide information on the email arrangement to investigators. “It is important for the Committee to know whether Secretary Clinton and her attorneys are providing financial support, legal support, or other coordination to … [Read more...] about Senator Wonders If Hillary Is Covering Legal Expenses For Tech Firm That Managed Her Email Server

- A + A (June 27): A worsening global fuel shortage catapulted Asia’s coal benchmark to a record, threatening to boost power bills and add to inflation woes. Spot physical coal at Australia’s Newcastle port jumped 3.4% to a record US$402.50 (about RM1,773.42) a ton last Friday (June 24), according to a biweekly index compiled by IHS Markit seen by Bloomberg . That’s the first time the highly watched spot index rallied above US$400. Power generators across Asia and Europe are rushing to secure additional coal shipments as a replacement to dwindling natural gas supplies, while miners are struggling to increase output. Germany and Austria are reviving idled coal power plants in response to Russian gas supply curbs, while Japan and South Korea are stockpiling the fuel ahead of hotter summer weather. Intense competition for a dwindling pool of available coal supply threatens higher power bills for households, as well as shortages for poorer emerging nations such as … [Read more...] about Asian coal prices hit record on hot global competition for fuel

- A + A (June 27): Taiwan’s industrial sector, including the world’s largest contract chipmaker, will be hit with the island’s first power price increase in four years as the state-owned utility grapples with soaring fuel costs. Taiwan Power Co. has proposed increasing electricity costs by at least 8% for industrial users, the Taipei-based Commercial Times reported, without saying where it got the information. The Ministry of Economic Affairs is set to hold a meeting Monday to review electricity rates. Taiwan relies on imported coal and natural gas for most of its power, and the price of both fuels has soared this year after Russia’s invasion of Ukraine upended global trade flows. At the same time, electricity use in Taiwan has hit new records in recent days amid hot weather and a strong industrial rebound after the pandemic. The island’s large industrial users include Taiwan Semiconductor Manufacturing Co., the most advanced maker of chips for everything from … [Read more...] about Global chip hub Taiwan to raise power prices as fuel costs soar

PETALING JAYA: Instead of completely removing subsidies for petrol, the government should gradually raise the price of RON95 petrol by 10 sen or 20 sen, says Datuk Seri Najib Razak. He said with many countries experiencing high inflation, it was not a suitable time to completely remove petrol subsidies. "However, the government can consider raising RON95 petrol by 10 sen or 20 sen. "But, don't touch on diesel prices when inflation rates are high now, because it correlates with the production and transportation costs which will eventually put more pressure on the inflation rate," said the former prime minister on Facebook on Wednesday (June 22). Najib also said the government should raise export duties and windfall taxes for the palm oil sector, given the high crude oil prices due to shortage in global supply. He said additional revenues from the proposals could be channelled every three months to various cash aid programmes to assist the B40 and M40 who were badly affected by … [Read more...] about Don’t totally remove fuel subsidies, but raise RON95 price gradually, says Najib

COLOMBO (Reuters) - Troops in Sri Lanka handed tokens on Monday to people queueing for petrol amid a severe fuel shortage in the nation battling its worst economic crisis in seven decades, while schools shut in Colombo and public employees were asked to work from home. With its foreign exchange reserves at a record low, the island of 22 million is struggling to pay for essential imports of food, medicine and most critically, fuel. "I have been in line for four days, I haven't slept or eaten properly during this time," said autorickshaw driver W.D. Shelton, 67, one of those who received a token meant to hold his place in the queue for when fuel becomes available. "We can't earn, we can't feed our families," added Shelton, who was 24th in line at a fuel station in the centre of Colombo, but set to stay there as he had no petrol for the journey to his home just 5 km (3 miles) away. It was not immediately clear how far the government could stretch its fuel reserves. The … [Read more...] about Crisis-hit Sri Lanka shuts schools, urges work from home to save fuel

Number of schemes that newly added the stock “Indian Oil Corporation”: 6 | Total number of schemes that held the stock: 38. Stock of IOC was newly added by the ICICI Pru Quant, ITI Value, JM Value and LIC MF Infra Fund. An Indian Oil finance executive said on Friday he expects oil prices to hold above $100 per barrel for the rest of 2022 amid the Ukraine crisis. Sandeep Kumar Gupta, director of finance at Indian Oil, also said at an industrial seminar he expects economic damage from the Russia-Ukraine conflict to contribute to a significant global growth slowdown in 2022. … [Read more...] about Indian Oil expects oil prices to stay over $100/bbl in 2022

A segment of India Inc is looking at crisis-hit Sri Lanka and Ukraine to hire tech talent at a massive discount. Economic crisis in the neighbouring Sri Lanka and war-torn Ukraine are offering value for money tech talents, argue some companies and HR firms.  Some of them are available at upto one-third price of the market rate in India and its a win-win for both sides, they add. The price these talent are coming for is at a 40 percent to 65 percent discount when compared with the flared-up current market price. Companies have started experimenting with the talent from these locations to deal with the tech talent war in India. “Another solution for the tech talent war we have started exploring is – we have started going beyond the homogenous hiring networks. We experimented with few UI developers from Nigeria…and Sri Lanka. We also have looked at some of these developers from Ukraine also,” said Amrit Jaidka Arora, chief human resource officer at Digit Insurance , an Indian … [Read more...] about Indian companies look at crisis-hit Sri Lanka, Ukraine to hire tech talent at massive discount

Share to Twitter Share to Linkedin Here are five things in technology that happened this past week and how they affect your business. Did you miss them? 1 - A crypto strategist is warning people about the impending decline of the number one crypto giant, Bitcoin. Crypto strategist Ian Harnett is warning people that Bitcoin could drop 40 percent in its value, as low as $13,000. He goes on to mention that central banks are diminishing liquidity which is causing the dramatic decrease in the popular crypto currency. The federal reserve last week raised its benchmark lending rate by 75 basis points which has been the biggest factor in the decline of digital assets. Currently, this top crypto giant has lost more than half of its value, year-to-date. (Source: CNBC ) Why this is important for your business: Rest assured, though volatile and not for the faint of heart, digital currencies are here to stay. They’re established, accepted and moving … [Read more...] about A Big Bitcoin Warning…And Other Small Business Tech News This Week