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US import tariffs on steel, aluminium: India hits back, to suspend concessions on 30 products

US import tariffs on steel, aluminium: India hits back, to suspend concessions on 30 products

NEW DELHI: Responding to the US import tariffs on certain steel and aluminium products, India has decided to suspend concessions on 30 products being imported from the US. In a notification to the World Trade Organisation (WTO) on June 14, India emphasized that the tariffs will be substantially equivalent to the amount of trade affected […]

Infosys plans to expand Pune campus to 35,000 seats

Infosys plans to expand Pune campus to 35,000 seats

HYDERABAD: Infosys Ltd is in the process of expanding its Pune campus by nearly 4,000 seats to 35,000 and has received necessary environment clearances for the same. In a meeting held in June, an expert appraisal committee under the environment ministry accorded Infosys environmental clearance for the Rs 690 crore expansion plan for its Rajiv Gandhi […]

Retail inflation hits four month high of 4.87% in May on costlier veggies, fuel

Retail inflation hits four month high of 4.87% in May on costlier veggies, fuel

NEW DELHI: Retail inflation jumped to 4-month high of 4.87 per cent in May on costlier food items such as fruits, vegetables and cereals coupled with high fuel rates. Based on Consumer Price Index (CPI), the retail inflation was at 4.58 per cent in the preceding month, April. In May 2017, however, it was at […]

Why UK is the preferred refuge of Indian scamsters

Why UK is the preferred refuge of Indian scamsters

  NEW DELHI: It’s not just the Modis — Nirav and Lalit — and the Mallyas of India who have sought refuge in the Queen’s land, aka the United Kingdom. Over 5,500 people from India have sought political asylum in Britain since 2013, not all of them criminals though. So why do Indians make a […]

Rahul Chari interview: ‘Can leverage Walmart to increase our B2B penetration’

Rahul Chari interview: ‘Can leverage Walmart to increase our B2B penetration’

By Pranav Mukul    New Delhi: Even as some of the big banks in the country adopt the financial technology (fintech) approach, companies and start-ups offering digital payments services will continue to be on the top of developing products for the end consumer. RAHUL CHARI, chief technology officer and co-founder of Flipkart-owned digital payments company PhonePe tells […]

Industry expects close to 8% GDP growth over next two years: CII

Industry expects close to 8% GDP growth over next two years: CII

  New Delhi: Industry is expecting the GDP to grow by close to 8 per cent over the next couple of years, as strong reforms process and fiscal prudence have laid a solid foundation for growth, CII said in a report. “The economy is in a sweet spot right now as the adjustment process regarding […]

Hindustan Unilever plans to launch ‘traditional’ breakfast options such as khichdi, upma

Hindustan Unilever plans to launch ‘traditional’ breakfast options such as khichdi, upma

  MUMBAI: Hindustan Unilever (HULNSE -1.40 %), the country largest consumer goods firm, plans to launch traditional South Asian breakfast options such as khichdi, upma and pongal in a pronounced deviation from its earlier strategy to familiarize the Indian shopper with a more global menu, which included noodles and pre-mixed soups.  The new products, made […]

ONGC shares rise after Q4 profit jumps 37% to Rs5,915 crore

ONGC shares rise after Q4 profit jumps 37% to Rs5,915 crore

NEW DELHI: Shares of State-owned Oil and Natural Gas Corp. Ltd (ONGC) gained 2% on Thursday after the company reported its highest profit in 17 quarters on back of higher oil prices. Fourth-quarter net profit jumped 37% to Rs. 5,915.12 crore compared to a profit of Rs. 4,340.18 crore in the same period last year, the […]

21 PSBs lost Rs 25,775 crore to bank frauds in 2017-18: RTI

21 PSBs lost Rs 25,775 crore to bank frauds in 2017-18: RTI

INDORE: Twenty-one public sector banks (PSBs) have incurred losses totaling Rs 25,775 crore due to banking frauds in the financial year 2017-18, a Right to Information reply has stated. The Punjab National Bank (PNB) had incurred the highest loss of Rs 6461.13 crore due to different cases of fraud during the fiscal that ended on March 31 this […]

IndiGo, Air India Express among Top 5 cheapest airlines in the world

IndiGo, Air India Express among Top 5 cheapest airlines in the world

NEW DELHI: Low-cost carriers IndiGo (InterGlobe Aviation Ltd) and Air India Express have been ranked among the top five cheapest airlines in the world in providing international flights. Air India Express, the wholly-owned subsidiary of state-run carrier Air India has been ranked second and the budget carrier IndiGo placed at fifth position in a Global Flight […]

MTNL may be allocated 4G spectrum: Telecom minister

MTNL may be allocated 4G spectrum: Telecom minister

MUMBAI: Cash-strapped telecom firm Mahanagar Telephone Nigam (MTNL) is investing Rs190 crore to upgrade its services and may also be allocated 4G spectrum to help stay relevant in the highly competitive market, telecom minister Manoj Sinha has said. The department of telecom (DoT) is “seriously considering” to allot 4G spectrum to state-run MTNL, which serves New […]

RIL gets green nod for expansion of petrochemical complex in Maharashtra

RIL gets green nod for expansion of petrochemical complex in Maharashtra

  NEW DELHI: Reliance Industries (RIL) has received environment clearance for the expansion and optimisation of its petrochemical complex at Nagothane in Raigad district of Maharashtra at an estimated cost of Rs2,338 crore. “The environment clearance has been given to the RIL’s expansion and debottlenecking of petrochemical project at Nagothane,” a senior environment ministry official said. […]

India’s forex reserves rise to life-time high of 424.361 billion dollars

India’s forex reserves rise to life-time high of 424.361 billion dollars

MUMBAI: The country’s foreign exchange reserves hit a life-time high of USD 424.361 billion after rising by USD 1.828 billion in the week to March 30, helped by rise in foreign currency assets, the Reserve Bank said today. In the previous week, the reserves had increased by USD 1.197 billion to USD 422.532 billion. Previously, […]

RBI should reintroduce LoUs with safeguards: India Inc

RBI should reintroduce LoUs with safeguards: India Inc

MUMBAI: India Inc wants letter of undertaking (LoU), which was banned by the Reserve Bank of India (RBI) in the wake of the Rs 13,000-crore Punjab National Bank (PNB) fraud, back. The LoU ban has affected the industry, leading to a rise in the cost of credit, said Piruz Khambatta, President of Confederation of Indian Industry […]

PNB scam: CBI issues non bailable warrant against Nirav Modi, Mehul Choksi

PNB scam: CBI issues non bailable warrant against Nirav Modi, Mehul Choksi

A special CBI court in Mumbai on Sunday issued non-bailable warrant against billionaire jewellers Nirav Modi and Mehul Choksi in the cases related to Punjab National Bank scam. The NBW was issued on the request of the probe agency as both Modi and Choksi had repeatedly refused to join the investigation in the scam, a CBI spokesperson said. Both […]

First US LNG cargo shipment arrives at Dabhol LNG terminal

First US LNG cargo shipment arrives at Dabhol LNG terminal

NEW DELHI: In a milestone for India’s new energy sourcing strategy, the first long-term liquefied natural gas (LNG) US cargo from the Houston-based Cheniere Energy Inc. arrived at the Dabhol LNG terminal in Maharashtra on Friday. Of the 9 million tonnes per annum (mmtpa) of LNG contracted by India from the US, state-run GAIL (India) Ltd […]

FPI inflows into stocks more than halved to Rs26,000 crore in FY18

FPI inflows into stocks more than halved to Rs26,000 crore in FY18

NEW DELHI: Foreign portfolio investment (FPI) in stock markets more than halved to Rs26,000 crore in 2017-18 on fears of faster than expected rate hike by the US Federal Reserve and higher valuations of Indian equities. In comparison, overseas investors had put in Rs55,700 crore in equities in 2016-17 after pulling out over Rs14,000 crore in […]

Real estate slowdown hits Maharashtra’s economy

Real estate slowdown hits Maharashtra’s economy

With real estate prices dropping in Maharashtra’s cities, the Maharashtra government on Saturday decided not to increase the government-fixed circle rates, also known as ready reckoner values, for properties across the state. This would be the first time since December 2009 when the annual guidance values for properties in Maharashtra have not seen an upward […]

ONGC may buy out GAIL in OPaL

ONGC may buy out GAIL in OPaL

New Delhi: State-owned Oil and Natural Gas Corp. (ONGC) may buy out gas utility GAIL India Ltd in its Dahej mega petrochemical project in Gujarat to take full control of the recently commissioned plant. GAIL had in 2008 picked up 19% stake in ONGC Petro-additions Ltd (OPaL), which was then building the mega petrochemical complex at […]

Reliance Jio acquires Saavn, creates $1-billion music entity

Reliance Jio acquires Saavn, creates $1-billion music entity

Reliance Industries (RIL) on Friday announced a strategic merger of its digital music service JioMusic with music over-the-top platform Saavn which will see RIL acquiring a 75-80 per cent stake in the merged entity. The company said that the combined entity is valued at over $1 billion, with JioMusic’s implied valuation at $670 million. “The […]

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