Top Headlines: Proposed MoD policy, Tata vs Mistry, H-1B visa issue, & more

Here are the top 10 business headlines on Tuesday morning

Trump signs executive order to restrict H1B visa use

President Donald Trump on Monday signed an executive order restricting federal agencies from contracting or subcontracting foreign workers, hurting Indian IT professionals who work in the US on the H-1B visa. Read More

DGCA blocks SpiceJet's promo offer

Indian aviation regulator — Directorate General of Civil Aviation (DGCA) — has asked low-cost carrier SpiceJet to stop the promotional sale offer launched on Monday, citing price-cap violation and floor imposed by the government in May. Read More

Proposed MoD policy aims to double India's defence production in 5 years

Combining multiple announcements (that) were made under Atmanirbhar Bharat package into a single policy document, the Ministry of Defence (MoD) on Monday released a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) for public consultation and comments. Read More

Pvt bank CEOs likely to get 15-year tenure

The tenure of chief executive officers (CEOs) of private banks — be they promoters or professionals — may be capped at 15 years. This could be part of the revisit of the central bank’s draft code on governance, to which banks have given their responses. Read More

Auto companies may face 10-12% price increase for half-yearly contracts

Automakers — coming out of lockdown lows — are likely to face a 10-12 per cent price increase for half-yearly contracts with steel companies. After months of negotiations, some firms have sealed contracts, but most have decided to defer the increase to October. Read More

Moody's upgrades YES Bank to B3 on equity infusion

Moody's has upgraded YES Bank’s long-term foreign currency issuer rating from “Caa1” to “B3” as equity capital raise of Rs 15,000 crore has bolstered its solvency. Read More

SBI economists pitch for sector-specific loan recast after moratorium ends

Economists at State Bank of India (SBI) on Monday pitched for a sector-specific loan restructuring package after the end of the six-month loan repayment moratorium on August 31. Read More

Search for work from home jobs up 442% in India during Feb-July: Report

Job searches for remote work or work from home in the country have increased by over 442 per cent between February and July, the highest globally, according to a report. Read More

IPL 2020: Star & Disney says no to ad discount despite slowdown, Covid-19

Star & Disney India has decided not to reduce the premium that it charges on its advertising inventory for both TV and OTT platforms for the upcoming Indian Premier League (IPL), set to be held in the UAE from September 19, despite a slowdown in ad spends because of the Covid-19 pandemic. Read More

Tata vs Mistry: The final countdown of India's biggest corporate battle

When the Supreme Court begins hearing petitions filed by the Tata Sons and the Mistry family from this month, it will decide not only the legacy of Tata group patriarch, Ratan Tata, 82, and the rights of minority shareholders but also the bruised egos of two top business families. Read More