India News Headlines: Latest India Business News 15th May 2020

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Quote of the Day: “Treat your employees exactly as you want them to treat your best customers.” – Stephen R Covey

  • IT firms and banks are vacating their rented offices or renegotiating their leases in bid to cut fixed costs and rework expansion plans.
  • After giants like Facebook, Google, and Twitter announced work from home till 2021, Unacademy, an ed-tech startup in India also announced 60% of its 1,000-strong workforce to work from home permanently.

latest india business news 15th may 2020

  • The Delhi High Court on Thursday restrained Zydus Wellness from airing its Complan ad that compared its health drink with Horlicks.

Must Read: Today News Headlines 15th May 2020 

Latest India Business News 15th May 2020

  • The Federal Bank has tied up with MoneyGram, a global leader in cross-border P2P payments and money transfers, to expand Account Deposit Capabilities to millions of consumers in India.
  • ACT Grants, a not-for-profit grant created to fight COVID-19, got fresh funding from Bill and Melinda Gates, Michael and Susan Dell, and Wadhwani foundations.
  • Credit rating agency – Icra said Indian airlines will need Rs 35,000 crores of fund infusions till FY23 to stay afloat, as lower revenue and higher fixed costs erode their profitability.
  • According to India Inc, the proposed labor code which advocates universal minimum wage and promotes formalization of the workforce, is a step in the right direction. The code also intends to modify the definition of inter-state migrant workers, which will allow welfare benefits to move with the movement of labor.
  • Tata Trusts is upgrading 4 government hospitals to convert them into COVID-19 treatment centers. This process to develop four hospitals – 2 in Maharashtra and 2 in Uttar Pradesh will complete by June.
  • Tough scrutiny of foreign investment in India has upset Xiaomi and Oppo who were seeking to expand beyond selling hardware for a bigger share of the South Asian country’s competitive financial services market.

Must Read: Aaj ke Samachar 15 May 2020

Latest India Business News 15th May 2020

  • Cognizant sees another churn among VP and SVP levels, where employees are making exits from the firm.
  • Real Estate players in Kolkata lauded the rental housing initiative announced by Finance Minister Nirmala Sitharaman on Thursday.
  • Vijay Mallya has been denied the right to appeal for his extradition to India in the UK Supreme Court.
  • ONGC awarded 49 marginal producing oil and gas fields to 7 companies under a government plan to raise production amid the coronavirus crisis.
  • Nirav Modi will face a second extradition hearing on 7 September on two charges of intimidating witnesses and destroying evidence by the Indian government.
  • Maharashtra FDA urges NPPA to cap prices of N95 masks/PPE kits to ensure availability.
  • Adidas on Thursday announced to hold a sporting event – #hometeamhero challenge to unite and help make a difference by dedication their workouts for good. The company will donate $1 to the WHO’s Covid-19 Solidarity Response Fund for every hour of tracked activity between May 29 and June 7.

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