Mumbai: PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders’ principal amount, estimated at ₹2,900 crore, and…
Ukrainian President Volodymyr Zelenskiyy said he respects US President Joe Biden’s “tough but strong” decision to conclude his reelection campaign on Monday. In a message posted on the social media platform X, Zelenskiyy conveyed Ukraine’s gratitude for Biden’s “unwavering support for Ukraine’s fight for freedom”.“Ukraine is grateful to President Biden for his unwavering support for…
BENGALURU: Within days of the jobs-for-locals controversy, Karnataka is in the midst of another wrangle over labour. Karnataka State IT/ITeS Employees Union (Kitu) said Saturday the Karnataka govt plans to increase the working hours in IT and ITES (IT-enabled services) sector to 14 hours a day, from the maximum 10 hours (including overtime) that’s allowed…
NEW DELHI: Finance minister Nirmala Sitharaman‘s seventh Budget will do a tight rope walk as she looks to strike a balance between the need to spend more on social sector schemes amid calls from allies for additional assistance to states, while seeking to address demands for a reduction in personal income tax and yet ensuring…
WASHINGTON: US President Joe Biden on Sunday dropped out of the 2024 presidential race, bowing to immense pressure from the Democratic Party.In a statement posted on X Biden said while it had been his intention to seek re-election, “I believe it is in the best interest of my party and the country for me to…
Sawan, which begins today as per the Hindu calendar, is a holy month to celebrate Lord Shiva. It gets its name from the Shravan Nakshahstra or, Shravan constellation which occurs in the night sky during this time. It is believed that during this time the devatas were churning the ocean in hopes of obtaining Amrit….
PUNE: Pune city police have decided to impound four-wheelers and two-wheelers driven by minors and keep the vehicles with them for a year to curb rise in cases of underage driving, reports Gitesh Shelke. The action will begin this week.The move comes following the May 19 accident in Kalyaninagar in which a minor boy driving…
NEW DELHI: Centre-wise results of NEET-UG released by NTA Saturday show that over 11,000 candidates scored zero or sub-zero marks. The lowest score in the exam, which awards negative marks for wrong answers, is -180, recorded at a centre in Bihar.While more than 2,250 candidates scored ‘absolute zero’, the marks obtained by more than 9,400…
NEW DELHI: Two Air India pilots, including a trainee, are paying for a serious oversight of the airline’s rostering department by getting grounded by Directorate General of Civil Aviation (DGCA). The trainee was to do supervised flying with a training captain but that did not happen due to a mix-up which led to the flight…
BENGALURU: Karnataka’s consumer forum has ordered a Bengaluru hospital and two doctors to pay a woman over Rs 5 lakh as compensation for a botched 2004 surgery during which a 3.2cm surgical needle was left behind in her spine, reports Vindhya Pabolu.The needle had caused 46-year-old Padmavathi extreme abdominal pain, backache and trauma for over…
