New York City prosecutors will seek to overturn scores of additional drug convictions involving an indicted former NYPD detective accused of framing innocent people in some cases
The Sunday World's publishers again apologise for false allegations about the Eurovision singer.
To facilitate smooth functioning of Asset Reconstruction Companies (ARCs), the Reserve Bank on Wednesday decided to set up a panel to undertake a comprehensive review of the working of such institutions. In the latest Budget, Finance Minister Nirmala Sitharaman announced setting up of Asset Reconstruction Company and Asset Management Company to tackle stressed assets. After enactment of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act in 2002, regulatory guidelines for ARCs were issued in 2003 to enable development of this sector and to facilitate smooth functioning of these companies. Since then, ARCs have grown in number and size but their potential for resolving stressed assets is yet to be realised fully, RBI Governor Shaktikanta Das said on Wednesday while announcing the first bi-monthly monetary policy for the current financial year. "It is, therefore, proposed to constitute a committee to undertake a comprehensive review of the working of ARCs in the financial sector ecosystem and recommend suitable measures for enabling such entities to meet the growing requirements of the financial sector," he said.
The Reserve Bank foresees a "competitive, efficient and heterogeneous" banking sector with four distinct sets of banks dominating the landscape over the next decade, its governor Shaktikanta Das said on Thursday. There will be large banks having presence across the country and the world, mid-size banks present across the economy, small finance banks/regional rural banks/cooperatives to take care of the small borrowers and digital players, he said. The comments come days after the RBI appointed a panel headed by former deputy governor Shyamala Gopinath on bank licences to evaluate applications for universal banks and small finance banks. An internal panel had recently recommended allowing deep-pocketed corporates into the banking fray, something the RBI had been averse to for long. A final view on the controversial proposal is yet to be taken. "The Reserve Bank is striving towards a more competitive, efficient and heterogeneous banking structure. The licensing policies for universal banks, small finance banks (SFBs) and payments banks are a step in this direction," Das said speaking at the Times Network India Economic Conclave.
Automotive Oil Seal Market Expansion to Gain Growth in Forecast Period 2021-2026 | Freudenberg, Parker Hannifin, NOK, Hutchinson, SKF, ElringKlinger, Federal Mogul, Dana, Trelleborg, Timken, Saint Gobain, NAK05 Mar, 17:02, OpenPR • Développer
The global Automotive Oil Seal market size is projected to grow in the historic period resulted from economic growth in emerging markets, the rise in awareness of the benefits and developed nations towards Automotive Oil Seal costs and increasing production
Das on Thursday said the central bank's asset purchases did not dilute its balance sheet or compromise on core principles of central banking
MAUMEE, Ohio, Feb. 23, 2021 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) announced today that Byron Foster has joined the company as senior vice president and chief commercial, marketing, and communications officer for Dana. Mr. Foster has responsibility for leading and supporting all of…
Dana Inc. (NYSE: DAN ) lost $31 million in 2020. But a $700 million book of new business — half in electric powertrains — should drive profit margins higher even as spending rises. The maker of drivelines for internal combustion engines and integrated electric powertrain systems points to several new contracts boosting its profit margin to 12% by 2023. They include an electrified powertrain for a medium-duty chassis for Freightliner Custom Chassis Corp. Production begins in the third quarter. Maumee, Ohio-based Dana also won business for an e-axle, electric motor, inverter and gears for an unnamed European heavy-duty truck manufacturer. The truck with the e-propulsion system debuts in 2024. "A lot of the wins in the medium-duty and now the heavy-duty space are coming through. And there's going to be some spending to bring those online," Chairman and CEO James Kamsickas told analysts on the company's Q4 earnings call Thursday. Dana also serves the light-duty vehicle market. It making cooling plates for General Motors' Ultium batteries that are central to the automaker's plans to sell only electric vehicles by 2035.
Dana Incorporated Reports 2020 Financial Results, Including Strong New Business Backlog of $700 million; Issues Guidance for 202118 Feb, 11:59, PR Newswire • Développer
MAUMEE, Ohio, Feb. 18, 2021 /PRNewswire/ -- Full-year Results Sales of $7.1 billion, a decrease of $1.5 billion driven by effects of global pandemic Net loss attributable to Dana of $31 million; diluted EPS a loss of $0.21 Adjusted EBITDA of $593 million, margin of 8.3 percent of sales…
Dana Gas Company announced its preliminary unaudited financial Results for the full year 2020. The Company reported a net profit of $36 million versus $88 million in 2019, excluding one-off non-cash impairments and other income. Including these one-offs, the Company reported a net loss of $376 million versus a net profit of $157 million. A total of $412 million of impairments were incurred mostly related to the sale of Dana Gas Egypt onshore assets. The sale for up to $236 million of Dana’s onshore Egyptian oil and gas assets, agreed with IPR Wastani Petroleum last year, is expected to close in the first half of 2021, while the company will retain its interests in its exciting offshore exploration concession, North El Arish (Block 6) which contains material gas resource potential in excess of 20 Tcf According to the company's statement, Operations in Kurdistan region in Iraq contributed net profit of $32 million despite the challenging year caused by the COVID-19 pandemic. The company’s revenue was $349 million in 2020, while in 2019 was $459 million due to both lower realized prices and lower production in Egypt.
MAUMEE, Ohio, Feb. 10, 2021 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today introduced a new drivetrain for rough-terrain cranes with lift capacities from 83 to 110 tons (75 to 100 tonnes) and terminal tractors. The Spicer® 246 heavy-duty steer axle and Spicer® C3300 remote torque…
Grab acquired Singapore’s robo-advisory startup Bento Investment in February last year, which was founded by Das.
MAUMEE, Ohio, Feb. 8, 2021 /PRNewswire/ -- Dana Incorporated (NYSE: DAN) today announced that Chris Clark has been named senior vice president of global operations, effective today. In this role, Mr. Clark is responsible for leading global manufacturing operations across Dana's more than…
Pleasant Green, a YouTuber based in the US, has unmasked one Dana (alias) based in Nigeria who scams individuals using cryptocurrency.
New Delhi, February 5 The Reserve Bank on Friday permitted retail investors to directly buy government securities (G-Sec) as part of measures to maintain availability of funds in the market and also raise Rs 12 lakh crore debt on behalf of the Centre during 2021-22. Details of the facility will be shortly worked out. "This is a major structural reform placing India among a select few countries which have similar facilities," said RBI Governor Shaktikanta Das at a media briefing. Retail investors are presently permitted to indirectly buy government securities, but this is the first time they will be offered the direct route. The apex bank's monetary policy committee decided to make no changes in the interest rates as the "need of the hour was to back growth," said Das. Other steps to ensure funds for the industry did not get crowded out as the RBI raised Rs 12 lakh crore for the government in a "non-disruptive" manner including a graded restoration of the cash reserve ratio (CRR), permitting NBFCs to join the Rs 1-lakh-crore special facility for stressed sectors and continuation of relaxation to banks that will free up Rs 1.53 lakh crore in the next six months.
The market has learnt to trust Das. Though bondmen sold securities on Friday — with RBI not spelling out how it would go about buying bonds in open market operations — the sell-off would have been more if Das wasn’t the governor.
Tribune News Service New Delhi, February 5 The Reserve Bank announced several measures to maintain availability of funds in the market for the industry even as it embarks on meeting the Union government's target of raising Rs 12 lakh crore in debt during 2021-22. The apex bank's monetary policy committee decided to make no changes in the interest rates as the "need of the hour is to back growth", RBI Governor Shaktikanta Das said at a press conference on Friday. Das was satisfied with the retail inflation rate which was 4.59 per cent in December 2020, well below the upper ceiling of six per cent. Das announced several steps to ensure funds for the industry do not get crowded out as the RBI raises Rs 12 lakh crore for the government in a "non-disruptive" manner. At the same time, the RBI is taking steps to keep at bay hot money from abroad in search for good yields. Das said one of the steps is a graded restoration of the cash reserve ratio (CRR) which will be fully restored to pre-COVID period only on May 22, thus giving banks more time to have some extra credit at their disposal.
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday put onus on both the Centre and states to ensure through concerted policy measures that current cost build in petroleum products and industrials raw materials does not escalate further.Without directly seeking a cut in excise and VAT levies, the RBI Governor said that petroleum product prices have reached historic highs as international crude prices surged in recent months and "the high indirect taxes remain", both in the Centre and states.Petrol and fiscal prices in the country has reached historic high levels. Apart from global movement in crude prices, high indirect taxes on the two products have contributed to its retail prices getting elevated.In a video statement after the Monetary Policy Committee's bi-monthly meet, Das said the spike in petro product prices, along with the sharp increase in industrial raw material prices have resulted in a broad-based increase in prices of services and manufacturing products in recent months.This if not checked through policy action by governments, Das indicated could have a bearing on inflation that has showed signs of easing.The RBI had build the recent cost pressure coming into various sectors while giving its outlook on inflation.
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