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J&K Council chief taps Pune firms for limestone, marble mining

J&K Council chief taps Pune firms for limestone, marble mining

PUNE: The Jammu & Kashmir Legislative Council Chairman has informally invited Pune companies to explore the possibility of extracting marble and limestone in Kargil district which has vast reserves of these natural stones. Haji Anayat Ali, who hails from Kargil district in the Ladakh region of the border state, recently met members of the Pune-based […]

Hyperloop to venture into Maharashtra, reduce Mumbai-Pune travel time to 25 minutes

Hyperloop to venture into Maharashtra, reduce Mumbai-Pune travel time to 25 minutes

NEW DELHI: The Richard Branson-led Virgin Group on Sunday signed a framework agreement with Maharashtra to build a hyperloop transportation system between Mumbai and Pune, which would reduce travel time between the two cities to just 25 minutes from the three hours at present. The system, which will also connect Navi Mumbai International Airport, will […]

After Nirav Modi, Rotomac Pen’s Vikram Kothari ‘flees’ with Rs 800 crore loan

After Nirav Modi, Rotomac Pen’s Vikram Kothari ‘flees’ with Rs 800 crore loan

NEW DELHI: After billionaire diamantaire Nirav Modi, another defaulter Vikram Kothari, the promoter of Rotomac Pen, has also allegedly gone abroad after swindling Rs 800 crore from various public sector banks, including Allahabad Bank, Bank of India and Union Bank of India, sources said. The Kanpur-based company’s owner had taken a loan of more than […]

Bankers discuss recovery, banks want PNB to pay up

Bankers discuss recovery, banks want PNB to pay up

MUMBAI: Banks, which have an exposure in the Rs 11,400-crore fraud at Punjab National Bank, are insisting that the latter should pay up as the letters of undertaking (LoUs) were issued by PNB to Nirav Modi and Mehul Choksi companies. The Indian Banks Association (IBA), which met here Saturday, discussed the PNB issue and the […]

Tata Steel third quarter net profit jumps fivefold on strong volumes

Tata Steel third quarter net profit jumps fivefold on strong volumes

MUMBAI: Tata Steel on Friday reported a nearly fivefold jump in its consolidated net profit to Rs 1,136 crore for the three months to December. Exceptional charges of Rs 1,116 crore due to provision recognised in respect of certain demands and claims from regulatory authorities relating to mining operations hit profit. In the December 2016 […]

15 months after demonetisation, RBI still processing returned notes

15 months after demonetisation, RBI still processing returned notes

NEW DELHI: The RBI has said that Rs 500 and Rs 1,000 notes, returned to banks when the government demonetised high-value currency 15 months ago, are still being “processed for their arithmetical accuracy and genuineness”. This is being done in an “expedited manner”, the central bank said. “Specific bank notes are being processed for their […]

Govt plans framework to regulate cryptocurrencies by fiscal year-end

Govt plans framework to regulate cryptocurrencies by fiscal year-end

  Subhash Chandra Garg, secretary, department of economic affairs, at a CNBC TV18-Mint event on Budget 2018. Photo: Ramesh Pathania The government will come out with a framework to regulate cryptocurrencies by the end of this financial year, as it looks to clamp down on rapidly growing virtual currencies such as bitcoin. “We hope that […]

Mukesh Ambani says Reliance to invest Rs2,500 crore in Assam, create 80,000 jobs

Mukesh Ambani says Reliance to invest Rs2,500 crore in Assam, create 80,000 jobs

GUWAHATI: Reliance Industries chairman Mukesh Ambani on Saturday announced an investment of Rs2,500 crore in Assam in various sectors, including retail, petroleum, telecom, tourism and sports, creating jobs for at least 80,000 people over the next three years. “Today I am happy to announce five commitments for Assam over the next three years. Reliance will […]

General Motors aims to ramp up component exports from India

General Motors aims to ramp up component exports from India

NEW DELHI: American auto major General Motors (GM) is looking to ramp up component exports from India even as it continues to add new global markets for vehicle shipments from the country, a company official said. The company, which has stopped selling cars in the Indian market, recently started exporting Beat Notchback to Costa Rica. […]

TCS wins $2-billion order from US insurer

TCS wins $2-billion order from US insurer

The country’s largest IT services exporter Tata Consultancy Services (TCS) has bagged a multi-year contract from Transamerica worth over $2 billion, the company announced on Friday. TCS had, last month, entered into a $2.25-billion IT outsourcing contract with Nielsen, a global TV rating measurement company. TCS said it will digitise the life insurance and annuities […]

Backed by NRI demand, some realty firms stick to luxury projects

Backed by NRI demand, some realty firms stick to luxury projects

In the middle of a real estate slowdown when most builders have turned to affordable housing projects, some continue to bet on luxury homes, backed by demand from ultra-rich buyers and non-resident Indians (NRI).  A handful of established, well-capitalized developers in Mumbai, the National Capital Region (NCR), Bengaluru and Pune are focusing on such projects, […]

Infosys net jumps 38.3% on tax deal with US body

Infosys net jumps 38.3% on tax deal with US body

Infosys Ltd, India’s second-biggest IT firm, on Friday posted a 38.3 per cent rise in net profit at Rs 5,129 crore for the quarter ended December 2017 as against Rs 3,708 crore in the same period of last year, aided by tax benefits from the firm’s deal with the US Internal Revenue Service (IRS). The […]

Kerala solar ferry completes one year of operations, leaves behind a green model to emulate

Kerala solar ferry completes one year of operations, leaves behind a green model to emulate

For Aditya, the country’s first solar-powered ferry operating in the alluring waters of the Vembanad lagoon in Kerala, Friday marks an important milestone — it completes one year of successful operations without any major glitch. Launched on January 12, 2017, the 75-seater ferry has been a people’s favourite and remains a testament to responsible green […]

India 2nd largest contributor to IBM’s over 9,000 patents in 2017

India 2nd largest contributor to IBM’s over 9,000 patents in 2017

Tech giant IBM on Tuesday said it received 9,043 patents in 2017, with India accounting for over 800 patents making the country the second highest contributor to the record tally. IBM inventors received a record 9,043 patents in 2017, marking the company’s 25th consecutive year of US patent leadership and crossing the one lakh-patent milestone. […]

PM Modi to hard sell India as investment destination at Davos

PM Modi to hard sell India as investment destination at Davos

Prime Minister Narendra Modi is set to hard sell India as an investment destination at the five-day World Economic Forum (WEF) at Davos, starting January 22. He will address the inaugural plenary session at the WEF on January 23, an official release said on Tuesday. The annual meeting will be attended by 350 political leaders including over […]

Generating True Alpha, Nitya Capital & Karya Property Management

Generating True Alpha, Nitya Capital & Karya Property Management

By Vanshika Vipin Varma HOUSTON: Houston’s high-flying real estate market has been in the news, from being ranked at the top of a prominent national list of cities to watch, to passing through clouds post Hurricane Harvey, and then bouncing back in the months ahead to some semblance of normalcy. Amongst the ocean of real estate investment companies […]

Singapore top destination for Chinese investment, India 37th

Singapore top destination for Chinese investment, India 37th

India has slipped six notches to 37th position among 60 major economies in the world in terms of their attractiveness to Chinese firms, while Singapore topped the list compiled by the Economist Intelligence Unit. According to the latest EIU’s China Going Global Investment Index, Singapore overtook the US as the most attractive destination for Chinese […]

Govt to soon unveil policy on methanol blending in petrol: Nitin Gadkari

Govt to soon unveil policy on methanol blending in petrol: Nitin Gadkari

Union Roads Minister Nitin Gadkari today said the government will be soon announcing a policy which calls for 15 per cent blending of methanol in petrol to make it cheaper and also reduce pollution. “In the upcoming Parliament session, I am announcing a policy of blending 15 per cent methanol in petrol,” Gadkari said at […]

Why a gas pipeline is triggering anger in Kerala

Why a gas pipeline is triggering anger in Kerala

On November 1, Kozhikode in north Kerala witnessed violent protests against the laying of a pipeline by the Gas Authority of India Ltd (GAIL). The Kochi-Koottanad-Bengaluru-Mangaluru Pipeline (KKBMPL) is meant to transport natural gas from Kochi to Mangaluru and Bengaluru (see map). But it has run into rough weather with agitators clashing with police and […]

Gold prices bounce back on jewellers’ buying

Gold prices bounce back on jewellers’ buying

Gold prices recovered by Rs 50 to Rs 30,250 per 10 grams at the bullion market on Tuesday on mild buying by local jewellers, shrugging off a weak trend overseas. Silver, however, held steady at Rs 39,000 per kg in limited deals from industrial units. Marketmen said scattered buying by local jewellers to meet ongoing wedding season […]

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