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Aurobindo to acquire Apotex operations in 5 European countries

Aurobindo to acquire Apotex operations in 5 European countries

New Delhi: Aurobindo Pharma on Saturday said it has inked a pact to acquire Apotex’s commercial operations across five European countries, including Poland and Spain, for €74 million. The acquisition is in line with the company’s strategy to strengthen and grow its European business and to expand in Eastern Europe, Aurobindo Pharma said in a statement. Click here […]

India to be 3rd largest economy worth $10 trillion by 2030: DEA Secy Garg

India to be 3rd largest economy worth $10 trillion by 2030: DEA Secy Garg

NEW DELHI: Economic Affairs Secretary Subhash Chandra Garg on Saturday said that 8 per cent growth for the Indian economy is “very much achievable”, and it is expected to be the world’s third largest economy by 2030 with Gross Domestic Product worth $10 trillion. The country’s GDP grew at a 7.7 per cent in the January-March […]

PM Modi to open Samsung factory in Noida tomorrow: One of world’s largest with 120 million units a year

PM Modi to open Samsung factory in Noida tomorrow: One of world’s largest with 120 million units a year

NOIDA: In front are open fields with grazing cattle, to the left are under-construction residential societies and to the right is its existing facilty – this where Samsung has set up what is the world’s largest mobile factory. Not China or South Korea – and certainly not the US – the tag of housing the world’s largest […]

RBI: Foreign currency assets decline $19 billion in 3 months

RBI: Foreign currency assets decline $19 billion in 3 months

MUMBAI: India’s foreign currency assets fell by around $19 billion since April this year in the wake of capital outflows and intervention by the Reserve Bank of India to arrest the decline in the rupee’s value against the dollar. During the week ended June 29, foreign currency assets, a major component of the overall reserves, […]

India slaps higher import duties on steel, agri products in retaliation to US tariff hikes

India slaps higher import duties on steel, agri products in retaliation to US tariff hikes

NEW DELHI: With the Trump administration increasing import duties and initiating trade war with various countries including India, the Indian government on Wednesday slapped higher duties on a number of items including apples, almonds, walnuts, diagnostic reagents and certain steel products. A bulk of these products figure in a list of items imported from the […]

Morgan Stanley raises $300 million for India focused infrastructure fund

Morgan Stanley raises $300 million for India focused infrastructure fund

MUMBAI: Morgan Stanley has raised close to $300 million in commitments for its India-focused infrastructure fund and is expected to make a formal first close soon, two people aware of the development said. The fund is Morgan Stanley’s maiden India-dedicated infrastructure fund. “Morgan Stanley, which has been in the market for sometime now for raising this […]

Verizon Store Recently Opened in Houston’s Memorial City

Verizon Store Recently Opened in Houston’s Memorial City

HOUSTON: A new Verizon Wireless recently opened in Houston’s Memorial City. It is on Memorial City Way in Memorial City Mall near JCPenney. The new store location is owned and operated by Victra, the leading retailer of wireless products and services for Verizon Wireless known for its award-winning customer service experience.  The Memorial City, Houston store, like all of the […]

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, […]