A 43-year-old businessman died in hospital in Powai last week, within almost 40 hours after he underwent a 12-hour-long hair transplantation procedure at a clinic, police said Wednesday.

The businessman, identified as Shrawan Kumar Choudhary, had attended a hair transplant session at a private clinic at Chinchpokli in central Mumbai on March 7, a police official said.

Reliance Industries Ltd., Venezuela’s top customer in India, has capped oil purchases from the Latin American country and halted selling diluent following U.S. pressure to cripple President Nicolas Maduro’s government.

“Our U.S. subsidiary has completely stopped all business with Venezuela’s state-owned oil company, PDVSA, and its global parent has not increased crude purchases," a Reliance spokesman said in an emailed statement.

Billionaire Azim Premji has announced he has raised his commitment for philanthropy by renouncing more of his personal assets and earmarking them to his Azim Premji Foundation endowment.

The Wipro chairman has done this by additionally earmarking all economic benefits for philanthropic purposes in about 34 per cent of the shares in Wipro (current market value at Rs 52,750 crore or $7.5 billion), held by certain entities controlled by him, the Foundation stated. Premji is also chairman of the Foundation.

Companies that have failed to comply with the Securities and Exchange Board of India’s (Sebi’s) 10 per cent cross-shareholding norm for asset management companies (AMCs) may now face the consequences. Sources said the market regulator might issue strictures against the firms as well as principal shareholders who have missed the March 12 deadline for reducing the stake to 10 per cent.

Facebook and Instagram users lost access to the social network's applications in parts of the world Wednesday as a result of an outage of undetermined origin.

The California giant which has more than two billion users acknowledged the outage after users noted on Twitter they could not access Facebook or had limited functionality.

The government has once again extended the deadline for mandatory testing and certification of mobile phones and telecom equipment to August 1, 2019. Department of Telecom (DoT) had in 2012 for the first time fixed April 1, 2013 as the deadline for mandatory testing and certification of telecom equipment (MCTE), and has deferred it many times since then.

Globally, total commodity asset under management has crossed USD 300 billion and India’s contribution to this is anything but negligible. In most parts of the world commodity derivative indices are traded by institutional investors, however, India is just getting started.

Despite the fact that commodity derivative markets have been functioning now for decades, most retail investors have maintained arms-length from this asset class.

The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday approved the issuance of statutory notifications for General Elections to the Lok Sabha 2019 under sub-section(2) of Section 14 of the Representation of the People Act, 1951.

It provides for calling upon the parliamentary constituencies to elect Members to the House on the dates to be recommended by the Election Commission of India in its proceedings.

India and Pakistan officials are all set to meet on the Indian side of the Attari-Wagah border on March 14 to decide the modalities of the Kartarpur corridor.

This will be the first meeting between the officials of the two countries to decide on the details of the corridor.

Shares of Anil Ambani-owned Reliance Communications (RCom) were trading lower for the sixth straight day, hitting a new low of Rs 4.82, down 6 per cent on the BSE in intra-day trade in otherwise strong market. The fall comes after the lenders claimed to have the first right over income tax (I-T) refunds.

In the past six trading days, RCom has dipped 27 per cent from level of Rs 6.64 on the BSE, as compared to 4 per cent rise in the benchmark index, the S&P BSE Sensex.

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