United Arab Emirates has announced a new ‘green visa’ scheme which allows foreigners to work in the country without the need for sponsorship by an employer. Holders of the new green visa will be able to work without company sponsorship, and can sponsor their parents and children up to 25 years old, officials said. Last … Read more
The two companies had announced the proposed merger on August 21, 2021. The in principle approval for the merger came from Insurance Regulatory and Development Authority of India (IRDAI) in November 2020 and now on September 3, 2021, Lombard informed about the receipt of the final approval from the regulator. Key points to note – … Read more
As at June 30, 2021, ICICI Bank held 51.87% of the equity stake in ICICI Lombard – the general insurance business. On September 3, 2021, ICICI Lombard informed the exchanges about receipt of approval from Insurance Regulatory and Development Authority of India (IRDAI) for ICICI Bank to reduce the stake in Lombard to 30%. The … Read more
As per rumours, Reliance Industries Ltd (RIL) is set to make a $5.7 billion offer to acquire a controlling stake in T-Mobile Netherlands BV (TMN), the country’s largest telecom operator with 5.7 million users. RIL is expected to make the offer within a month and has begun shortlisting lenders to fund the transaction. TMN is … Read more
Amore than five-fold rise in the share price of Avenue Supermarts Ltd, which runs DMart retail stores, since the company went public four years back, has not only brought riches to founder Radhakishan Damani and investors but also made chief executive Ignatius Navil Noronha the country’s richest professional manager with a net worth of ₹5,146 … Read more
Tata Consultancy Services () is focusing on growth and transformation to expand revenue from existing clients by offering them more services, chief executive Rajesh Gopinathan told ET’s Raghu Krishnan and Bodhisatva Ganguli in an interview, as he draws up a plan for the next five years at the helm. Excerpts: TCS has an outsize influence … Read more
Proxy advisory firm Institutional Investor Advisory Services’s (IiAS) recommendation to vote against a resolution to reappoint 31-year-old Rama Kirloskar to the board of (KBL) and also her appointment as joint managing director triggered a war of words between her father Sanjay Kirloskar (Chairman of the Company), and the proxy advisory firm through series of emails. … Read more