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Political, business leaders pay rich tributes to ITC's Deveshwar

Political and business leaders paid heartfelt tributes to ITC Chairman Y C Deveshwar, who passed away Saturday morning after a brief illness, saying he leaves behind a rich legacy. Finance Minister Arun Jaitley tweeted: "Saddened by the death of Yogi C Deveshwar, Chairman ITC. Yogi excelled as a corporate professional and an entrepreneur and took his company to great heights. May God render peace to the departed soul & give to his family strength to bear this loss." West Bengal Chief Minister Mamata Banerjee described him as a "giant in the corporate world". "Saddened at the passing away of Y C Deveshwar Ji. He was a giant in the corporate world. I have many memories of him as a distinguished captain of industry. Condolences to his family, his colleagues and his admirers," Banerjee said in a tweet. In a statement, the Confederation of Indian Industry (CII) expressed its condolences at the demise of Deveshwar, terming it a great loss for Indian industry. Deveshwar was the president

ITC Chairman Yogi Deveshwar passes away at 72, condolences pour in

Legendary corporate leader Yogesh Chander Deveshwar, who spearheaded multi-business conglomerate ITC group as its chairman for over two decades, passed away on Saturday at the age of 72.He is survived by his wife and son. In 2011, Deveshwar received the Padma Bhushan, India's third-highest civilian award.Deveshwar was an alumnus of the Indian Institute of Technology Delhi and Harvard Business School. He joined ITC in 1968 and was the architect of its aggressive transformation from a tobacco company to a conglomerate with a portfolio of products in fast moving consumer goods, hotels, paperboards, and paper, packaging and agri-business.Prime Minister Narendra Modi and several other prominent political and business leaders condoled his death."Shri Y C Deveshwar made a strong contribution to Indian industry," said Modi in a tweet. "His efforts helped ITC become a professionally-run Indian company with a global footprint. Saddened by his demise. My thoughts are with his family, friends and

Are Indian Tariffs Really High? (Comment)

The Trump-driven trade war does not seem to relent. In the latest development, the US has raised tariffs on $200 billion worth of Chinese imports to 25 per cent, up from 10 per cent imposed last year. China, on its part, has threatened to retaliate. India has never been far from the skirmish.

Telangana CM condoles ITC Chairman Deveshwar's death

Telangana Chief Minister K. Chandrashekhar Rao on Saturday condoled the death of Indian business tycoon and ITC Group Chairman Y.C. Deveshwar.

Talks with IMF continues as Imran khan rejected first draft of bailout package: Finance Ministry

After Pakistan Prime Minister Imran Khan rejected the first draft for a bailout package, the country's Foreign Ministry on Saturday said that the talks with International Monetary Fund (IMF) are still underway.The talks, which were to be wrapped by May 10, will continue as "more time is required" to reach a consensus, reported Geo TV."We have made good progress in our discussions with the visiting IMF mission. Consultations will continue over the weekend," said Finance Ministry spokesperson. The Prime Minister on Friday rejected the terms and conditions posed by the IMF for the bailout of USD 6-7 billion.While rejecting many conditions, he agreed to hike power tariffs and taxes and withdraw tax concessions and exemptions.The government is planning to increase the costs of electricity and gas for consumers in the two phases this year.The IMF has asked Pakistan's government to not control the rate of the dollar, and subsidies in the energy and other sectors would be withdrawn.The IMF ..

Modi condoles death of ITC chairman Deveshwar

Prime Minister Narendra Modi on Saturday condoled the death of ITC chairman Y.C. Deveshwar, who passed away at a Gurugram hospital earlier in the day.

PM Modi condoles death of ITC chairman YC Deveshwar

Prime Minister Narendra Modi on Saturday condoled the death of ITC executive chairman and CEO YC Deveshwar, who passed away in the morning after suffering a prolonged illness.Taking to Twitter, the Prime Minister said, "Shri YC Deveshwar made a strong contribution to Indian industry. His efforts helped ITC become a professionally-run Indian company with a global footprint. Saddened by his demise. My thoughts are with his family, friends and the ITC group in this hour of grief."The news of Deveshwar's demise came to light after Sanjiv Puri, MD, ITC issued a statement. He said, "His ( YC Deveshwar) superordinate vision to build an exemplary Indian enterprise, to serve national priorities, create the businesses of tomorrow, impeccable values and personal integrity, the width and depth of his strategic thinking and his compassionate conduct of business will continue to inspire us in the journey ahead. In his hour of immense sadness, our hearts go out to his family, wife Mrs Bhartu ...

ITC chairman Deveshwar dead at 72

ITC chairman Y.C. Deveshwar died on Saturday in a Gurugram hospital. He was 72, and was ITC's longest serving corporate head.

Apple settlement made Qualcomm CEO richer by $3.5mn

After settling a bitter multi-billion dollar legal battle with Apple, the CEO of US-based chip-maker Qualcomm received a hefty bonus of $3.5 million.

ValueMomentum selects Erie as site of regional development center

New Jersey-based IT services and software solutions provider ValueMomentum is expanding its reach with a new regional development center to be located in Erie, Pennsylvania. Erie's healthy mix of educational institutions, an attractive cost of living index and health care services, and good K-12 schools make it the perfect candidate for ValueMomentum's U.S.-based regional development center.With more than 2500 employees throughout North America and Asia, ValueMomentum has been looking to expand its presence via regional development centers. This is part of a long-term plan for investing in talent development to meet market demands for digital, data and cloud technologies. The company credits its existing relationship with Erie Insurance(r), its integration in the Erie community and the overwhelmingly positive response from local leaders as key drivers for selecting northwest Pennsylvania as the location. ValueMomentum considered several other locations before zeroing in on ...

Gift your mom a Bajaj Finance Fixed Deposit this Mother's Day and enjoy interest up to 8.95 per cent!

Mother's Day gives you a chance to express your love and appreciation towards your mom, for her unconditional love. While you may be considering a range of Mother's Day gifts, redefine thoughtful gifting by helping her invest in a fixed deposit. With returns that she can count on and a high-interest rate, Bajaj Finance FD helps you secure your mother's finances today, tomorrow and for the time to come.Here's why the Bajaj Finance Fixed Deposit for Women makes for the perfect gift for mothers across India.With healthcare and retail inflation on the rise, the value of money is constantly decreasing. However, you can increase your mother's purchasing power by starting an FD from Bajaj Finance, which offers interest up to 8.60 per cent. By opting to receive the payout at maturity, you can earn inflation-beating returns, and help your mother meet her costs in the future with ease.This FD becomes even more lucrative for senior citizens. Bajaj Finance FD for Senior Citizens offers an ...

ITC chairman Deveshwar passes away at 72

ITC chairman Y.C. Deveshwar passed away on Saturday in a Gurugram hospital. He was 72, and was ITC's longest serving corporate head.

ITC Chairman YC Deveshwar dead

ITC Chairman Y.C. Deveshwar died on Saturday after a long battle with cancer, company sources said. He was 72.

Syndicate Bank reports net loss of Rs 2,587 crore in FY 19

Government-owned Syndicate Bank suffered a net loss of Rs 2,587 crore during 2018-19 on account of bad loans compared to a net loss of Rs 3,223 crore in the previous fiscal year.Gross non-performing assets (NPAs) dipped marginally to Rs 24,680 crore in March 2019 from Rs 26,187 crore during December 2018 and Rs 25,759 crore in March 2018. In percentage terms, the gross NPA ratio works out to 11.37 in March 2019, 12.54 in December 2018 and 11.53 in March 2018.Total advances on March 31 this year stood at Rs 2.17 lakh crore, down from Rs 2.23 lakh crore a year ago. Though retail advances showed marginal growth, corporate and MSME advances declined.Overall provisions for FY 19 totalled Rs 5,407 crore as against Rs 7,087 crore in the previous fiscal. Net interest income rose from Rs 6,552 crore to Rs 6,648 crore. But operating expenses went up to Rs 6,053 crore from Rs 5,494 crore.In the fourth quarter (January to March) of 2018-19, however, the net profit was Rs 128 crore against a net ..

ITC Chairman & NED passes away

On 11 May 2019

HTC looking to exit Chinese smartphone market: Report

Taiwanese handset maker HTC's recent decision to pull its phones from two of China's largest e-commerce sites strongly suggests that it is perhaps looking to exit the Chinese smartphone market.

Intimation regardinq Resignation of Secretarial Auditor of Spice Islands Apparels

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Larsen & Toubro approves for merger of L&T Shipbuilding

On 11 May 2019

Pakistan to continue bailout talks with IMF

The Pakistan government has said that talks with the International Monetary Fund (IMF) on a bailout package will continue over the weekend as the two parties are yet to reach an agreement, the media reported on Saturday.

Corporate czar Yogi Deveshwar passes away at 72

He is survived by his wife and son.West Bengal Chief Minister Mamata Banerjee posted the news on her official Twitter handle."Saddened at the passing away of Y C Deveshwar Ji. He was a giant in the corporate world. I have many memories of him as a distinguished captain of industry. Condolences to his family, his colleagues and his admirers," she said.In 2011, Deveshwar received the Padma Bhushan, India's third-highest civilian award.Deveshwar was one of India's longest-serving corporate chiefs with over two decades at the helm of ITC. He joined ITC in 1968 and was the architect of its aggressive transformation from a tobacco company to an FMCG (fast moving consumer goods) major.He became Executive Chairman of the company in 1996 and grew revenues from Rs 5,200 crore to more than Rs 51,500 crore.Deveshwar also battled British American Tobacco (BAT) to ensure that ITC remains an Indian company.Born on February 4, 1947 in Lahore, Deveshwar studied at Indian Institute of Technology (IIT) .