North Korean leader Kim Jong Un agreed to permanently dismantle his main nuclear complex at Nyongbyon if the United States takes corresponding measures, South Korean President Moon Jae-in said Wednesday after the two leaders held summit talks in Pyongyang to try to sustain nuclear diplomacy with Washington, which has been pushing hard for stronger disarmament moves from the North.

The Securities and Exchange Board of India (Sebi), in its board meeting on Tuesday, decided to allow foreign companies having exposures in the Indian commodity market to hedge their positions in derivatives.

The decision was taken after consultation with the ministry of finance and the Reserve Bank of India (RBI). However, they will not be allowed to hedge their exposures in sensitive commodities. Derivatives trading will also not be permitted in commodities they don’t have exposure in. This may differ from company to company.

Infosys, the country’s second-largest information technology services firm, has lost an arbitration battle against its former chief financial officer Rajiv Bansal over his severance package.

The arbitration tribunal has directed the IT firm to pay Bansal the pending amount of Rs 121.70 million with interest. Infosys’s counterclaim for refunding the previously paid severance amount of Rs 52 million has also been rejected.

Mumbai: The Securities and Exchange Board of India (Sebi) today approved a slew of proposals, including revised framework for settlement of cases and new know-your-customer (KYC) norms for foreign portfolio investors (FPIs). The proposals were cleared by the Sebi board at its meeting in Mumbai.

Food regulator FSSAI will review in the first week of October the progress made by the online food delivery platforms, including Zomato and Swiggy, on delisting of non-licensed restaurants and catering establishments. In July this year, FSSAI had directed the food delivery platforms to de-list non-licensed establishments after getting consumer complaints of sub-standard food being served through e-commerce platforms.

Expanding its footprints in the transportation sector, state-run engineering major BHEL Monday flagged off its first 6,000HP electric locomotive from its Jhansi plant.

“As part of its diversification initiatives, Bharat Heavy Electricals Ltd (BHEL) has flagged off of its first 6,000HP electric locomotive (Type WAG-9H),” a company statement said.

NEW DELHI: Reliance Communications’ (RCom) Chairman Anil Ambani said that the debt saddled operator has complete backing of its global and Indian lenders in its asset monetisation plan and will monetise its enterprise and GCX businesses.

The operator’ asset monetisation deal is with Reliance Jio for fibre, spectrum, MCN, tower and some of its land parcels will go to Canadian asset management firm Brookfield for a total of about Rs 18,000 crore.

The country’s largest lender State Bank of India will sell eight non-performing assets to recover dues worth over Rs 3,900 crore and has invited bids from asset reconstruction companies (ARCs) and financial institutions (FIs). “In terms of the bank’s revised policy on sale of financial assets in line with the regulatory guidelines, we place these accounts for sale to ARCs/banks/NBFCs/FIs, on the terms and conditions indicated,” the bank said in the bid document on its website.

ArcelorMittal, which is locked in a three-way fight for the acquisition of bankrupt Essar Steel, first wrote a letter to resolution professional Satish Kumar Gupta targeting rival bidder Vedanta over its alleged violation of environmental law and human rights but shortly withdrew it.

The Allahabad bench of the National Company Law Tribunal on Monday asked Jaiprakash Associates to reply by Tuesday regarding the notice it issued to the company on September 10 on the petition of ICICI Bank initiating insolvency proceedings against the company.

The two-member bench also asked ICICI Bank to file any rejoinder to JP Associates reply by September 20 and has scheduled the matter for hearing on September 26.

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