Mumbai, In a <keyword id="4581641" type="PERSON" weightage="20" keywordseo="major-relief">major relief</keyword> for Marathas, the <keyword id="73607" type="ORGANIZATION" weightage="20" keywordseo="Maharashtra-cabinet">Maharashtra cabinet</keyword> on Wednesday decided to provide <keyword id="6361164" type="UNKNOWN" weightage="20" keywordseo="reservation">reservation</keyword> to the community under <keyword id="10349135" type="COMPANY" weightage="20" keywordseo="the-economically-weaker-sections">the Economically Weaker Sections</keyword> (EWS) category for educational admissions and jobs. The 10% EWS quota is earmarked for those who are not covered under any social reservations. Notably, the implementation of the quota for the Maratha community under the SEBC (Socially and <keyword id="1194419" type="PERSON" weightage="20" keywordseo="Economically-Backward-Class">Economically Backward Class</keyword>) category was stayed by the Supreme Court, which was challenged by the <keyword id="51011" type="ORGANIZATION" weightage="20" keywordseo="state-government">state government</keyword>. The next hearing of the case before the constitutional bench of the apex court is scheduled on January 25 next year. In another decision, the state Cabinet gave its nod to a project for the preservation and conservation of ancient temples in the state. The state PWD department will implement the project, an official release said. The announcement for preservation and conservation of ancient temples was made by Chief Minister Uddhav Thackeray in the recently-held winter session of the state legislature. The Cabinet also decided to mark January 3 as "Women's Education Day" to commemorate the birth anniversary of social reformer Savitribai Phule. In another decision, the Cabinet gave its consent to waive the license fees for liquor shops for the period of their closure during the coronavirus-induced lockdown. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

One in every 10 government jobs and college seats in Maharashtra set aside for economically weaker sections⁠— the Maratha community will benefit from it

Seoul, <keyword id="141985" type="COMPANY" weightage="20" keywordseo="SK-Telecom">SK Telecom</keyword>, which is <keyword id="5565" type="LOCATION" weightage="20" keywordseo="South-Korea">South Korea</keyword>'s top wireless provider, said on Thursday it has partnered with <keyword id="141088" type="COMPANY" weightage="20" keywordseo="Amazon-Web-Services">Amazon Web Services</keyword> (AWS) to launch the country's first 5G edge cloud service. The business-targeted service, named SKT 5GX Edge, provides users ultra-low latency for data-intensive services by connecting to <keyword id="10487122" type="COMPANY" weightage="20" keywordseo="aws-wavelength-zones">AWS Wavelength Zones</keyword> installed in SK Telecom's telecommunications offices, making it unnecessary for traffic to go through regional aggregation sites, according to the <keyword id="345443" type="COMPANY" weightage="20" keywordseo="Carrier">carrier</keyword>. SK Telecom said it expects SKT 5GX Edge to improve services such as video streaming, games and machine learning, reports Yonhap news agency. The mobile carrier said it has worked with AWS since February this year, while also collaborating with 20 other companies to test the service, such as with food delivery giant <keyword id="10487121" type="COMPANY" weightage="20" keywordseo="woowa-brothers-corp-">Woowa Brothers Corp.</keyword> for an autonomous food delivery robot. The two companies have set up infrastructure for the service in the central city of Daejeon, 140 kms south of Seoul, and plan to expand into the country's capital and other areas next year. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

South Korea's SK Telecom joins hands with AWS to launch 5G edge cloud service

New Delhi, <keyword id="1498859" type="COMPANY" weightage="20" keywordseo="India-Ratings-and-Research">India Ratings and Research</keyword> on Thursday narrowed the contraction in India's <keyword id="10489048" type="UNKNOWN" weightage="20" keywordseo="fy21-gross-domestic-product">FY21 gross domestic product</keyword> (GDP) growth to negative 7.8% from a negative 11.8%. Accordingly, the <keyword id="387534" type="PERSON" weightage="20" keywordseo="ratings-agency">ratings agency</keyword> pointed out the easing of the Covid-19 headwinds and better-than-expected 2QFY21 GDP numbers as the reasons behind such a move. "However, the question remains, how sustainable is the recovery witnessed in 2QFY21, as a significant part of the impetus came from the festival and pent-up demand," the ratings agency said in a report. "Although the headwinds emanating from Covid-19 related challenges are unlikely to go away till mass vaccination becomes a reality, perhaps the <keyword id="10488607" type="UNKNOWN" weightage="20" keywordseo="economic-agents">economic agents</keyword> and economic activities not only have learnt to live with it but also are adjusting swiftly to the post Covid-19 world," the report further said. According to <keyword id="1704466" type="COMPANY" weightage="20" keywordseo="Ind-Ra">Ind-Ra</keyword>, GDP growth during 3QFY21 is expected to come in at negative 0.8% and 4QFY21 GDP growth to turn positive at 0.3% as against its earlier expectation it turning positive in 4QFY22. Besides, the agency expects <keyword id="5027223" type="COMPANY" weightage="20" keywordseo="FY22">FY22</keyword> growth to be 9.6%, mainly due to the favourable or weak base of FY21. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

India's FY21 GDP now expected to contract by 7.8%, says Indian Ratings and Research

New Delhi, <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> on Thursday witnessed 24,712 <keyword id="9481331" type="UNKNOWN" weightage="20" keywordseo="fresh-covid-19-infections">fresh Covid-19 infections</keyword> taking the <keyword id="2379300" type="PERSON" weightage="20" keywordseo="total-number">total number</keyword> of cases to <keyword id="10487176" type="PERSON" weightage="20" keywordseo="10123778">1,01,23,778</keyword>, along with 312 deaths in the last 24 hours, taking the tally of fatalities to 1,46,756, <keyword id="4585792" type="COMPANY" weightage="20" keywordseo="the-ministry-of-health-and-family-welfare">the Ministry of Health and Family Welfare</keyword> said. In the last 24 hours, 29,791 people have recovered. Currently, there are 2,83,849 active cases. The recovery rate stands at 95.75% while the fatality rate is 1.45%. Till now, 96,93,173 have recovered. A total of 16,53,08,366 samples have been tested for Covid-19 till now. Of these, 10,39,645 samples were tested on Wednesday, <keyword id="1256547" type="COMPANY" weightage="20" keywordseo="The-Indian-Council-of-Medical-Research">the Indian Council of Medical Research</keyword> (ICMR) said. Maharashtra continues to be the worst-hit state till date. Over 70% of the daily new cases are being reported by 10 states and union territory -- Kerala, Maharashtra, West Bengal, Chhattisgarh, Uttar Pradesh, Karnataka, Delhi, Tamil Nadu, Gujarat and Madhya Pradesh. Over 75% of the deaths are being reported from Maharashtra, West Bengal, Delhi, Kerala, Uttar Pradesh, Punjab, Karnataka, Madhya Pradesh, Tamil Nadu and Haryana. A new strain of the Covid-19 virus has appeared in the UK. The mutant is said to be 70% more aggressive, according to reports. Flights and other forms of transport to and from the UK are being shut down. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

India records 24,712 fresh COVID-19 cases with 312 deaths

New Delhi, Infogain, a Silicon Valley-based <keyword id="810151" type="PERSON" weightage="20" keywordseo="digital-platform">digital platform</keyword> and <keyword id="10490223" type="UNKNOWN" weightage="20" keywordseo="software-engineering-company">software engineering company</keyword>, has acquired Absolutdata, a San Francisco Bay Area based AI and <keyword id="10490222" type="UNKNOWN" weightage="20" keywordseo="advanced-analytics-company">Advanced Analytics company</keyword>. Absolutdata's award-winning 'NAVIK AI' platform and 300 data scientists will significantly enhance Infogain's ability to engineer superior business outcomes for its clients through the use of cutting-edge AI and Analytics, Infogain said in a statement. Infogain's CEO Sunil Bhatia said: "Infogain's acquisition of Absolutdata completes our three-pronged acquisitions strategy to help customers' increasing demand for adopting digital platforms by employing strategy and experience, <keyword id="6899273" type="UNKNOWN" weightage="20" keywordseo="Cloud-Transformation">cloud transformation</keyword>, and advanced analytics and AI services". Bhatia added that the acquisition will increase Infogain's presence in additional market segments such as CPG, telecom, and pharma. Absolutdata's CEO Anil Kaul said: "Companies across the globe are increasingly looking towards a combination of Technology and AI/Analytics to drive scalable, sustained &amp; profitable business growth. The Covid-19 pandemic has further accelerated digital transformation across organisations. We are thrilled to be joining the Infogain team as we share a like-minded commitment to driving business success through disruptive technologies." "As a unified team and company, we are very well positioned to service our clients' requirements comprehensively and innovatively, as well as providing tremendous growth opportunities for Absolutdata employees," he said. This acquisition, Infogain's third in 14 months, follows its acquisitions of Houston-based Silicus Technologies and Seattle-based Revel Consulting. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

Infogain acquires AI and Advanced Analytics firm Absolutdata

New Delhi, The <keyword id="6466153" type="UNKNOWN" weightage="20" keywordseo="congress-high-command">Congress high command</keyword> has given its nod for an <keyword id="6365866" type="UNKNOWN" weightage="20" keywordseo="Alliance">alliance</keyword> with Left parties for <keyword id="10469457" type="COMPANY" weightage="20" keywordseo="the-west-bengal-assembly">the West Bengal Assembly</keyword> election next year. <keyword id="181147" type="COMPANY" weightage="20" keywordseo="Bengal-Congress">Bengal Congress</keyword> President <keyword id="10489633" type="PERSON" weightage="20" keywordseo="adhir-ranjan-chowdhry">Adhir Ranjan Chowdhry</keyword> said, "Today the Congress High command has formally approved the electoral alliance with the Left parties for the impending election in <keyword id="6357783" type="LOCATION" weightage="20" keywordseo="West-bengal">West Bengal</keyword>." In the last polls in 2016, the Congress fought in alliance with the Left parties and secured 44 seats to emerge as the second <keyword id="1285069" type="ORGANIZATION" weightage="20" keywordseo="largest-party">largest party</keyword>. However, half of its MLAs have since joined the Trinamool. However, it is not clear how many seats the Congress will contest but party sources say Congress wants a fair share in the seat sharing agreement. Bengal Congress in-charge Jitin Prasada said talks on seat sharing will begin but the party will fight with full force to restore the pride of Bengal which is being "destroyed by the BJP and TMC". In Bengal, the Congress faces a formidable challenge from the ruling Trinamool Congress and the BJP, which is fast emerging as a force to reckon with in the poll-bound state. The 294-member Bengal Assembly will go to the polls next year. While the Trinamool Congress has the challenge to retain power, the Congress also has to retain its ground in the state. The Congress is also up against an upbeat BJP which has made inroads in the state after winning 18 Lok Sabha seats in the 2019 general election. The Congress was in a dilemma over whether to go with the Left or the Trinamool. But its state leaders have been talking to the Left informally and holding programmes in the state simultaneously. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

Congress sealed alliance with Left parties for West Bengal Assembly elections

Cairo, <keyword id="6354912" type="LOCATION" weightage="20" keywordseo="egypt">Egypt</keyword> has witnessed a sudden spike in the <keyword id="6384751" type="UNKNOWN" weightage="20" keywordseo="number">number</keyword> of <keyword id="9292280" type="UNKNOWN" weightage="20" keywordseo="fresh-coronavirus-cases">fresh coronavirus cases</keyword> as the North African country reported 911 <keyword id="7571551" type="UNKNOWN" weightage="20" keywordseo="New-infections">new infections</keyword> and 42 deaths in the last 24 hours, <keyword id="10487438" type="UNKNOWN" weightage="20" keywordseo="health-minister-hala-zayed">Health Minister Hala Zayed</keyword> said. The two new tallies have increased the total deaths to 7,209 while and the caseload to 127,972, Xinhua news agency reported. Addressing the media here on Wednesday, the Minister revealed that the provinces of Cairo, Giza, Alexandria and Qalyubia have registered the highest numbers of infections this week, adding that 363 <keyword id="6365858" type="UNKNOWN" weightage="20" keywordseo="hospitals">hospitals</keyword> have been prepared to receive infected patients across the country. Zayed said that Egypt signed contracts on December 4 with the Global Vaccine Alliance and Immunizations (GAVI) to obtain vaccines for the <keyword id="8604864" type="UNKNOWN" weightage="20" keywordseo="novel-coronavirus">novel coronavirus</keyword>, adding that Egypt received the first batch of vaccines already. The priority of distributing the vaccine would be given to medical staff in isolation hospitals, people with chronic diseases like cancer and kidney failure, and the elderly, Zayed noted. Also on Wednesday, Prime Minister Mostafa Madbouly said onthat New Year's Eve celebrations will be banned in a bid to contain the spread of the coronavirus amid the rising daily infection tolls reported recently nationwide. Madbouy instructed all concerned authorities to strictly confront violations of the precautionary measures to avoid enforcing a lockdown that will bear negative economic repercussions. Egypt announced its first confirmed coronavirus case on February 14 and the first death on March 8. Around mid-June, Egypt had witnessed a peak of daily infections and fatalities before they started to gradually decline in the first week of July. Amid declining cases and fatalities, Egypt has been easing relevant restrictions over the past three months as part of a coexistence plan to maintain anti-coronavirus precautionary measures while resuming economic activities. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

Egypt records sudden spike in COVID-19 cases

Mumbai, <keyword id="9292761" type="UNKNOWN" weightage="20" keywordseo="equity-benchmark-sensex">Equity benchmark Sensex</keyword> jumped over 350 points in opening trade on Thursday, tracking gains in index majors <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, <keyword id="6652791" type="UNKNOWN" weightage="20" keywordseo="HDFC-Twins">HDFC twins</keyword> and ICICI Bank amid positive cues from global markets. The 30-share BSE index was trading 355.23 points or 0.76% higher at 46,799.41, and the broader NSE Nifty surged 109.25 points or 0.80% to 13,710.35. ONGC was the top gainer in the Sensex pack, rising around 5%, followed by Bharti Airtel, Bajaj Auto, Axis Bank, <keyword id="45179" type="DOMAIN" weightage="20" keywordseo="NTPC">NTPC</keyword>, Bajaj Finance, Titan, IndusInd Bank, HDFC duo and Reliance Industries. On the other hand, Asian Paints, Infosys, Dr Reddy's Lab, TCS and Nestle India were among the laggards. In the previous session, Sensex rallied 437.49 points or 0.95% to close at 46,444.18, and Nifty surged 134.80 points or 1% to 13,601.10. Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth ₹536.13 crore on a net basis on Wednesday, according to provisional exchange data. Domestic equities look to be good at the moment, said Binod Modi Head-Strategy at Reliance Securities, adding that Asian markets are trading positive as the outline of Brexit trade deal was reached. "Further, fear of a new coronavirus strain seems to be easing out now with select European countries opening borders for Britain. FPIs flow continues to remain a key driving force for domestic equities, which is expected to sustain in the near term in the backdrop of weak dollar, soft monetary policies of global central bankers and fiscal stimulus in the USA. "Sustainability of recovery in key economic data and 3QFY21 earnings are likely to play important roles for domestic markets for the sustainability of premium valuations in the near term," he said. US equities finished mostly higher as investors monitored the progress of the coronavirus vaccine and chances of a revived economy in 2021. However, President Donald Trump's opposition to recent bills passed by the Congress offered some discomfort towards the last session of trade. Elsewhere in Asia, bourses in Seoul, Hong Kong and Tokyo were trading on a positive note in mid-session deals, while Shanghai was in the red. Meanwhile, the global oil benchmark Brent crude futures were trading 0.41% higher at USD 51.45 per barrel. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a>

Sensex rallies over 350 points in early trade; Nifty tops 13,700

Seoul, South Korea has signed deals with Pfizer and Johnson and Johnson's Janssen to purchase Covid-19 vaccines, with the goal of starting vaccinations in the second quarter of 2021, <keyword id="385499" type="ORGANIZATION" weightage="20" keywordseo="health-authorities">health authorities</keyword> said on Thursday. According to <keyword id="10053518" type="COMPANY" weightage="20" keywordseo="the-korea-disease-control-and-prevention-agency">the Korea Disease Control and Prevention Agency</keyword> (KDCA), the government will buy vaccines for 10 million people from Pfizer and six million from Janssen, which was up from its initial plan for four million people, Yonhap news agency reported. It formally struck a purchase deal with AstraZeneca in late November and made an advance payment of $77.6 million in October to <keyword id="3169687" type="COMPANY" weightage="20" keywordseo="the-World-Health-Organization">the World Health Organization</keyword>'s global vaccine project, known as <keyword id="9549281" type="COMPANY" weightage="20" keywordseo="covax">COVAX</keyword>. The government plans to sign contracts next month with Moderna and COVAX to secure vaccines for 10 million people from each, the KDCA said. Vaccines by AstraZeneca, Pfizer and Moderna require two shots for immunization while Janssen's vaccine requires one shot. The government has set a goal of securing vaccines for 44 million people, enough to cover 88% of the nation's population, but the purchase deals are expected to cover 46 million with increased supplies from Janssen. AstraZeneca's vaccine will be first shipped around February and March, followed by Janssen's in the second quarter of 2021 and Pfizer's in the third quarter, according to health officials. South Korean Prime Minister Chung Sye-kyun said the government plans to start the vaccine programme in the second quarter of next year, vowing to mobilise all resources to advance shipments of the vaccines for the goal. "The government will pay thorough attention to make sure that the public can be vaccinated as soon as possible, without any anxiety, while carefully studying the safety and effectiveness of the vaccines administered (overseas)," <keyword id="10408988" type="LOCATION" weightage="20" keywordseo="the-south-korean">the South Korean</keyword> PM said during an interagency meeting on the Covid-19 pandemic response. The contracts to buy the vaccines came amid growing calls for speeding up the vaccine programme to cope with a sharp hike in cases, which could overwhelm the nation's medical system. As soon as the vaccines are ready, <keyword id="10489929" type="COMPANY" weightage="20" keywordseo="the-ministry-of-food-and-drug-safety">the Ministry of Food and Drug Safety</keyword>, the country's drug safety agency, will promptly grant emergency use approval to begin the vaccine programme for the high-priority group first, health officials said. Health authorities said they have been preparing ultra-cold freezers and other storage units to safely distribute vaccines depending on their requirements set by the drug makers. "We are preparing the vaccinations to complete inoculation of high-priority groups before the next year's flu season, which generally starts in November," Yang Dong-gyo, a senior KDCA official, said in a briefing. The vaccines will be first rolled out to groups vulnerable to the virus, such as elderly people, care home residents and frontline health workers, then to the rest of the population in order of risk, including those who are clinically vulnerable, Yang said. South Korea's daily new coronavirus cases fell below 1,000 on Thursday, as the most stringent social distancing rules so far were in place ahead of the Christmas and New Year's holidays to contain the winter wave of the virus. The total caseload reached 53,533 and the death toll stood at 756, according to the KDCA. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

South Korea signed deals with Pfizer and Janssen to purchase COVID-19 vaccines

New Delhi, The festival season is here and it is time to embrace Yuletide spirits. With cinemas yet to draw audience confidence fully, OTT platforms are going all-out to add a Christmas sparkle with shows and films that celebrate the season of Santa Clause. As we gear up to binge on Christmas, snuggled in a blanket with a cup of hot chocolate, list new attractions that toast a happy ending to the year, and a good cheer. Operation Christmas Drop The film is about a political aide falling for a big-hearted air force pilot while looking to shut down his tropical base and its airborne Christmas tradition. The <keyword id="128682" type="COMPANY" weightage="20" keywordseo="Netflix">Netflix</keyword> film stars Kat Graham, Alexander Ludwig, and Virginia Madsen. A California Christmas The Netflix film follows a wealthy real estate heir who poses as a ranch hand to get a hardworking farmer to sell her family's land. It stars Lauren Swickard, Josh Swickard and Ali Afshar. Sharing Christmas Directed by Peter Sullivan, the 2017 romantic film is about Stephanie Nichols, who gets an opportunity to transform an old shopping complex into a prime location. It is available on Lionsgate Play. A Christmas Carol The 2009 film remains a Christmas favourite watch. It is about Ebenezer Scrooge, an old man of miserly contempt, as he finds himself in the company of the ghosts of Christmas, who take him on an eye-opening journey. Starring Jim Carrey, Gary Oldman, Colin Firth, Bob Hoskins, Robin Wright Penn, Cary Elwes, Fionnula Flanagan, Steve Valentine, and Molly C. Quinn, the film is available on Disney+ Hotstar Premium. 2020 Global Citizen Prize Hosted by John Legend, it will feature performances by John Legend, <keyword id="82565" type="PERSON" weightage="20" keywordseo="Carrie-Underwood">Carrie Underwood</keyword>, Gwen Stefani, Tori Kelly &amp; JoJo. The program will also feature appearances by Elton John, Shawn Mendes, Priyanka Chopra Jonas. It will stream on Voot Select on December 26. All About Christmas Eve Starring Haylie Duff, the 2012 release is about a <keyword id="6355838" type="LOCATION" weightage="20" keywordseo="new-york">New York</keyword> high-society party organiser, who needs to decide at the last minute to choose between career and vacation with her boyfriend. It is available on Lionsgate Play app. Home for Christmas The Norwegian television series dropped its first season in 2019, and has been a teen favourite ever since. is about Johanne as she tries to find a boyfriend to bring home for Christmas Eve. Starring Ida Elise Broch, the show is available on Netflix. The Christmas Chronicles: Part 2 Kurt Russell returns as Santa Claus in the sequel of 2018 film "The Christmas Chronicles". The film is directed by Chris Columbus. It shows Russell reprising his role as Santa Claus to save Christmas. The highlight is an on-screen reunion between Russell and Goldie Hawn, who plays Mrs. Claus. It is streaming on Netflix. <keyword id="31480" type="PERSON" weightage="20" keywordseo="Dolly-Parton">Dolly Parton</keyword>'s Christmas On The Square Starring Dolly Parton, Christine Baranski and Treat Williams, the holiday movie musical is about a woman who plans to sell a small town without regard for the people, and what happens when she gets a visit from an angel. It is available on Netflix. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a>

Christmas Watchlist: Netflix, Amazon Prime and Disney Hotstar bet big on Xmas films and shows

With retrospective <a href="http://www.businessinsider.in/budget-2016/tax">taxation</a> continuing to rile foreign investors, the Budget tomorrow may look to address their concerns with a view to resolving the legacy issues. 
 Chief Economic Advisor <keyword id="6355547" type="PERSON" weightage="20" keywordseo="Arvind-Subramanian">Arvind Subramanian</keyword> said that the present government is taking "consistent steps" to deal with the legacy tax issues to regain investor confidence. 
 
"Slowly, slowly they (government) are cleaning up the legacy issue. I think they will continue to do so going forward and hopefully so in the Budget. It's a long drawn agenda that we need to clean up tax system," he said. 
The continuation of multi-billion dollar tax liability imposed by the previous UPA government using a retrospective legislation, has been a matter of concern for foreign investors who had hoped that the BJP government will quickly resolve them. 
 
 
Earlier this month, the tax department took the unusual step of sending a reminder notice to Vodafone for payment of Rs 14,200 crore of taxes on an issue that is under arbitration. 
 
Even after two years, the arbitration in the <a href="http://www.businessinsider.in/searchresult.cms?query=Vodafone+">Vodafone</a> case has not yet started in absence of appointment of a presiding judge on a three member arbitration panel. 
 
The Rs 10,247 crore tax issue of Cairn Energy Plc of UK could manage to get a full panel constituted, even though the process started much later than Vodafone, only after the issue was brought to the notice of Prime Minister's Office. 
 Both Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> and Finance Minister <a href="http://www.businessinsider.in/searchresult.cms?query=Arun+Jaitley+">Arun Jaitley</a> have repeatedly stated that no new tax liability would be created using the retrospective law, the lingering of the disputes has not gone down well with foreign investors. Many of them had hoped that the government may use the A P Shah panel that had sorted out the contentious issue of levy of <keyword id="73398" type="ORGANIZATION" weightage="20" keywordseo="MAT">MAT</keyword> on capital gains made by FPIs and FIIs, to resolve these legacy issues. 
 
A top executive at a foreign company the easiest way to resolve these issues is to refer the pending cases to the Shah panel as they had done in the MAT issue and implement its recommendations. 
 
Subramanian said the government had proactively resolved the MAT issue and is working to do so for the remaining legacy issues.

Budget
2016 may address retrospective tax concerns, says Chief Economic Advisor Arvind Subramanian

After a heavy year with <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+investors">foreign investors</a> and domestic taxpayers, the <a href="http://www.businessinsider.in/searchresult.cms?query=IT+department">IT department</a> has set a target for 2016. It aims to simplify Income Tax laws and follow a non-adversarial but effective mechanism to collect tax. 
 
While the government wants to maximize its tax revenues with simpler laws, it doesn’t want to ask big companies for extra advance tax or stopping refunds to meet the revenue targets. 
 
While the <a href="http://www.businessinsider.in/searchresult.cms?query=IT+department">IT department</a> is working to reduce litigations, most of the tax issues <keyword id="58959" type="UNKNOWN" weightage="80" keywordseo="Foreign-investors">foreign investors</keyword> face were already resolved in 2015. The year also saw the <a href="http://www.businessinsider.in/searchresult.cms?query=Goods+and+Services+Tax+">Goods and Services Tax </a>(GST) bill remaining in political limbo. 
 
While the BJP's tried hard to crack down on <a href="http://www.businessinsider.in/searchresult.cms?query=black+money">black money</a>, the initial response was sluggish at best when compared to the big numbers thrown around during election season. 
 
As the chaos and confusion continues, big foreign companies like Vodafone and Cairn Energy continue to try and resolve long-pending tax disputes. 
 
Image credit: Indiatimes

IT dept has
a New Year Resolution, 2015 offenders beware!

Expressing a desire to solve the ongoing tax dispute with the government in a friendly manner, telecom equipment maker Nokia said it would like to exhaust other options first than arbitration. 
 
Nokia is in Rs 20,000 crore-odd tax dispute after authorities froze its assets in India and prevented transfer of its Chennai handset manufacturing plant to Microsoft, which acquired its devices business globally last year. 
 
The Finnish firm, Nokia, sent India an arbitration notice, while highlighting the tax case could create negative sentiment among foreign investors, who have cited cases involving Nokia, Vodafone and Cairn, among others, to view India with suspicion when it comes to policy certainty and clear tax laws. 
 
"There are better ways to resolve those (tax) issues (than arbitration) and we would like to exhaust those options first," Barry French, executive vice president of marketing and corporate affairs at Nokia, told Economic Times in an exclusive interview. He told the financial daily that India was "incredibly important" and would remain so after the 150-year-old company completes its acquisition of Alcatel-Lucent. 
 
Nokia will try to settle through the ongoing legal process or mutual agreement procedure under a double taxation avoidance agreement with Finland. 
 In April 2015, Nokia had sought <keyword id="6354814" type="UNKNOWN" weightage="100" keywordseo="prime-minister-Narendra-Modi">Prime Minister Narendra Modi</keyword>'s intervention to get the asset freeze on its factory lifted. 
 
"We have seen the right desire to resolve the issues," French told ET. 
 
Meanwhile, Nokia also laid emphasis on India's potential as a manufacturing hub, saying the dispute aside, it has had a fruitful experience in the country and other multinationals should set up shop to reap the benefits. 
 
"Our overall experience in India, setting aside taxation issues, in terms of the quality of people, the infrastructure, has been very good. We would encourage every company to come and manufacture here," French told the financial daily, adding, “to those who don't because maybe they are nervous about India, because they don't understand India, we will say you should take the plunge and come here." 
 
(Image: Reuters)

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