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India’s forex reserve hits $400bn for first time

India’s forex reserve hits $400bn for first time

MUMBAI: India’s forex reserves crossed the $400-billion mark for the first time on Friday. The latest $100 billion has been added to the reserves in three and a half years after they crossed the $300-billion level on April 2014. At current level, the reserves are enough to fund more than a year of imports. In […]

HSBC sees India as a $7 trillion economy by 2028, overtaking Germany, Japan

HSBC sees India as a $7 trillion economy by 2028, overtaking Germany, Japan

Mumbai: India is likely to overtake Japan and Germany to become the third largest economy in the next 10 years but needs to be consistent in reforms and focus more on the social sector, HSBC Holdings Plc has said. Social capital is “insufficient” in the country and spending on aspects like health and education “is not […]

Jet Airways Q1 profit more than doubles to Rs53.5 crore

Jet Airways Q1 profit more than doubles to Rs53.5 crore

Jet Airways (India) Ltd’s net profit more than doubled in the June quarter as healthy domestic growth offset muted earnings from its global operations. It was also bumped up by higher other income and gains on foreign exchange. Profit rose to Rs53.5 crore in the three months to June from Rs25.88 crore a year ago. […]

Infosys to set up innovation hub in Raleigh, to hire 2000 Americans by 2021

Infosys to set up innovation hub in Raleigh, to hire 2000 Americans by 2021

India’s second largest software services firm Infosys on Tuesday said it will set up a technology and innovation hub in Raleigh in North Carolina, where it is expected to hire 2,000 American workers by 2021. In July, Infosys had announced it will set up a centre in North Carolina as part of its plan to […]

Govt mulls Rs10 trillion public financing for infrastructure projects

Govt mulls Rs10 trillion public financing for infrastructure projects

NEW DELHI:  With bank credit drying up for large infrastructure projects, the National Democratic Alliance (NDA) government is exploring a plan to raise Rs10 trillion from retirees and provident fund beneficiaries, said transport minister Nitin Gadkari. The plan aims to raise money in tranches of Rs10,000 crore by selling 10-year bonds at a coupon of […]

Infosys to get steep concessions to develop Kolkata centre

Infosys to get steep concessions to develop Kolkata centre

The West Bengal government has agreed to offer path-breaking concessions to Infosys Ltd to get the software services firm to develop its 50-acre plot in Rajarhat township near Kolkata. West Bengal will allow Infosys to use up to 49% of the plot allotted in 2010 in any manner it likes, and has also agreed to […]

After Qatar, India gets US majors to cut price of gas from Oz

After Qatar, India gets US majors to cut price of gas from Oz

NEW DELHI: In yet another victory for the Narendra Modi government’s energy policy, a consortium of global oil majors led by US major Chevron has given in to India’s demand for lowering price of liquid gas contracted by Petronet LNG, the country’s largest importer of gas in ships, from the Gorgon LNG project in Australia. The revised price is estimated to help […]

PM Modi, Shinzo Abe to lay foundation stone of bullet train on Thursday

PM Modi, Shinzo Abe to lay foundation stone of bullet train on Thursday

NEW DELHI: Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe will lay the foundation stone for the India’s first bullet train project+ connecting Ahmedabad to Mumbai on Thursday. The high speed train, with 10 cars and capacity to accommodate 750 people, is expected to reduce travel time between the two cities from seven to three hours. Later, the train […]

Flaws in India’s economic growth model are becoming clear

Flaws in India’s economic growth model are becoming clear

India has a way of confounding expectations. Analysts agreed that, months after Prime Minister Narendra Modi’s ill-fated decision to withdraw 86% of currency from circulation overnight, growth would bounce back. Economists polled by Bloomberg expected growth in the April to June quarter to be 6.5%; other estimates were even higher. So when the government’s official statisticians released […]

ONGC to bid for Israel oil and gas exploration blocks: Oil Minister

ONGC to bid for Israel oil and gas exploration blocks: Oil Minister

NEW DELHI/JERUSALEM: State-run Oil and Natural Gas Corporation (ONGC) plans to bid for Israeli offshore oil-and-gas exploration blocks, oil minister Dharmendra Pradhan has told news agency Reuters. This is slated to be the first major deal between the two countries since a groundbreaking trip by Prime Minister Narendra Modi in July. India and Israel have deep defence ties but the Modi […]

Start-up incubator Techstars to launch in India

Start-up incubator Techstars to launch in India

BENGALURU: A decade after first launching in a small town in Colorado, US, global start-up incubator network Techstars is set to make its debut in India and launch new start-up programmes over the coming weeks and months to tap the country’s growing start-up ecosystem. As part of its India launch, Techstars has forged a joint venture […]

Vishal Sikka’s exit: The $200-million transaction that rocked Infosys’ boat

Vishal Sikka’s exit: The $200-million transaction that rocked Infosys’ boat

PALO ALTO: The video cameras in the empty conference room on the US West Coast were on. As were the prying eyes in Bengaluru. In a few minutes, the live news feed would take the two subjects to thousands of TV viewers across India. Infosyschairman R Seshasayeewalked in first. It was 1.30 in the morning — never a […]

PepsiCo CEO Indra Nooyi comes under fire as Donald Trump council splinters

PepsiCo CEO Indra Nooyi comes under fire as Donald Trump council splinters

PepsiCo Inc. chief executive officer Indra Nooyi is being targeted by Color of Change, a non-profit racial justice group that has previously gone after Uber Technologies Inc. and Walt Disney Co. The organization is pressuring Nooyi to step down from Donald Trump’s business advisory council after the president was slow to condemn white-supremacist violence last […]

Over 9.3 crore PAN cards linked with Aadhaar numbers

Over 9.3 crore PAN cards linked with Aadhaar numbers

More than 9.3 crore Permanent Account Numbers (PAN) have been linked with Aadhaar, a senior income tax department officer said. Of the total Aadhaar-PAN linking, which is nearly 30% of the total about 30 crore PAN holders, about three crore linkages were done in June and July. “By 5 August, which was the last date […]

India’s first railways disaster management centre to come up near Bengaluru

India’s first railways disaster management centre to come up near Bengaluru

NEW DELHI: Trains falling into rivers and coaches catching fire will be common sights in the country’s first ‘railways disaster management village’ expected to come up on the outskirts of Bengaluru by December next year. A senior official of the railways ministry said “overaged rolling stock” will be used to replicate train accidents so that real […]

Indian economic cycle entering strongest phase: report

Indian economic cycle entering strongest phase: report

The Indian economy is at the cusp of entering its strongest growth phase and a full blown bull market is yet to play out with the wide-based Nifty expected to touch 11,500 in 2018, says a report. An economy enters the strongest phase of growth when stocks, bonds and commodities all rally together. “We believe […]

ICEX likely to launch diamond futures trading by August-end

ICEX likely to launch diamond futures trading by August-end

MUMBAI: The Indian Commodity Exchange (ICEX), anchored by Reliance Capital, is likely to start regular trading by this month-end. The exchange, meanwhile, will launch mock sessions for diamond futures trading on its platform from Monday. In order to help traders and investors gear up for the actual trading, which is likely to start towards the end […]

India’s forex reserves surge to record $392.86 billion

India’s forex reserves surge to record $392.86 billion

MUMBAI: India’s foreign exchange reserves, or forex reserves, surged by $1.536 billion to touch a new record of $392.867 billion during the week to 28 July, data released by the Reserve Bank of India (RBI) showed. In the previous week, forex reserves had increased by $2.27 billion to $391.33 billion. Click here to read more… Credit: livemint.com

New York Life Agent Amiralli Dodhiya Qualifies for Million Dollar Round Table’s “Court of the Table”

New York Life Agent Amiralli Dodhiya Qualifies for Million Dollar Round  Table’s “Court of the Table”

New York Life Leads Million Dollar Round Table for the 62st Consecutive Year HOUSTON: Outstanding client service, ethics and professionalism have elevated Agent Amiralli Dodhiya of the Houston General Office of New York Life to qualify for the exclusive “Court of the Table” of the Million Dollar Round Table — The Premier Association of Financial […]

Over 12 lakh businesses apply for new GST registration

Over 12 lakh businesses apply for new GST registration

Over 12 lakh businesses have applied for fresh registration under the Goods and Services Tax (GST) regime, Revenue Secretary Hasmukh Adhia has said. Of these, while 10 lakh applications for registration have been approved, 2 lakh are still pending approval. “The figure of new registrations approved in GST crosses 10 lakhs today. About 2 lakh […]

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