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After Air India, Cairn to target more Indian state-owned firms for recovery
A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the USD 1.2 billion plus interest and penalties that are due from the Indian government.
Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are ‘alter egos’ and the airline should be held liable for the arbitration award.
Govt to refresh IT Act, but initial focus on PDP Bill: IT Secretary
India to come out with space transportation policy, onboard
According to the Department of Space (DoS), globally, the participation of private agencies in providing launch services has increased and some of them have become significant players in the commercial market for launch services.
India is also witnessing the emergence of a ”New Space” wherein the private players in the space sector aim to tap the commercial potential of small satellite launch services by developing small satellite launchers for the global market, it said.
Pharmeasy to acquire diagnostics chain Thyrocare in a deal worth over Rs 6,300 crore
Pharmeasy is primarily into medicine deliveries.
At present, Thyrocare has a network of 4,000 partner labs while Pharmeasy serves 17 million customers monthly through its network of 6,000 digital consultation clinics and 90,000 partner retailers.
”We feel diagnostics is very important, Thyrocare has an outstanding backend, a very low cost structure and we have an unbelievable front end,” API Holdings’ Chief Executive Siddharth Shah told after signing the agreement.
International
Canopius and AmTrust Lloyd’s merger agreement signed
Global reinsurance industry capital at USD 462 billion in 2018
French insurer Covea seeks acquisitions targets on reinsurance
Boeing Dreamliner plant ‘plagued by shoddy production,’ says NYT
John Barnett, a former quality manager who retired in 2017 after almost three decades at Boeing, said he found clusters of metal slivers hanging over the wiring that commands flight controls. A U.S. Federal Aviation Administration spokesman, Lynn Lunsford, said the agency inspected several planes that Boeing had certified as free of such debris and found the same metal slivers.
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