India sends 1st wheat shipment to Afghanistan via Chabahar port
India on Sunday flagged off a shipment of wheat for Afghanistan through Iran’s Chabahar port—marking the operationalization of the port for the trans-shipment of goods from India to the landlocked country. The development is seen as a significant one as it torpedoes Pakistan’s veto over trade between India and Afghanistan—a move aimed at circumscribing India’s […]
Crackdown on shell companies unearths $1 billion black money
India is intensifying its crackdown on dubious companies after it unearthed over $1 billion in suspicious cash deposits as part of its investigations into corruption and efforts to boost foreign investment, a minister said. While the government has already revoked permissions for over 200,000 companies and restricted their bank accounts, it is now working on […]
Amul offers business proposition to Railways on Twitter
Dairy giant Amul on Monday reached out to the Indian Railways on its official Twitter handle with a business proposition to use its refrigerated parcel vans to transport Amul butter across India. The Railways promptly responded on the micro-blogging site, using a popular tag line of the company for the brand. “IR will be utterly […]
Infosys cuts revenue forecast for 2017-18
Infosys Ltd cut its full-year revenue guidance on Tuesday, blaming poor spending by its largest customers, as India’s second largest outsourcing firm struggles to regain the growth momentum that once made it India’s information technology bellwether. The Bengaluru-based company now expects revenue to grow at-best 6.5% in constant currency terms in the year to next […]
Why looking at the hallmark is important when buying gold jewellery
It is festival time and television, social media and billboards are all splattered with advertisements of gold jewellery. But how do you assess the purity of that gold neckpiece that you are planning to buy? Look at the hallmark on the jewellery. Hallmark certifies the purity of gold and here is how you can decode […]
Maruti becomes No. 1 exporter of passenger vehicles from India
Maruti Suzuki India has become the largest passenger vehicles exporter from India in the first half of the ongoing fiscal, dethroning Hyundai Motor India Ltd which has now been pushed to fourth spot behind Volkswagen and General Motors. In the April-September period this fiscal, Maruti Suzuki India (MSI) exported 57,300 units of passenger vehicles (PVs) […]
Govt planning steps to ease GST compliance burden on SMEs: Hasmukh Adhia
NEW DELHI: Policymakers are considering steps to ease the compliance burden related to the goods and services tax (GST) on small businesses and to make product classification for taxation less complicated, said revenue secretary Hasmukh Adhia. The simplification process may result in some readjustment of tax rates, including a possible reduction in some items that attract […]
Lakshmi Mittal donates $25 million to Harvard University
Steel tycoon Lakshmi Mittal has donated USD 25 million to the prestigious Harvard University with an aim to increase engagement with South Asian countries, including India. The donation will establish an endowed fund for the South Asia Institute at the university. The institute spearheads Harvard’s engagement with South Asian countries, including India, Afghanistan, Bangladesh, Bhutan, […]
Maruti’s new Dzire crosses 100,000 sales mark in over 5 months
Maruti Suzuki India on Tuesday said the all-new version of its compact sedan Dzire has crossed 100,000 unit sales milestone in just five and half months of launch. The third generation Dzire was launched in May 2017 and has become the fastest to clock one lakh unit sales mark, Maruti Suzuki India (MSI) said in […]
Harley-Davidson University to debut in India
American cult bike manufacturer Harley-Davidson plans to open its skills centre, which it calls the ‘Harley-Davidson University’, in India to train its employees and dealership staff. Apart from technical training, the Harley-Davidson University also offers a variety of courses ranging from management to finance and branding. Currently, the US-based firm has three such universities in the Asia […]
IMF chief says Indian economy on ‘solid track’
The Indian economy slowed down in the last quarter to 5.7 per cent growth. However, International Monetary Fund (IMF) chief Christine Lagarde has expressed confidence that the structural changes in the economy like the Goods and Services Tax (GST) and demonetisation have put the Indian economy on a “solid track”. Recently, the International Monetary Fund […]
A Last Diwali Party at an Iconic Jewelry Store
By Jawahar Malhotra HOUSTON: For the last month, with announcements of a liquidation sale, India Jewelers has started a long goodbye, which is hard to take for many of those who have grown accustomed to the landmark store tucked away in the shopping center on Hillcroft and the Southwest Freeway. About a decade ago, it […]
Raghuram Rajan among probables for Nobel Prize for economics: The Wall Street Journal
NEW DELHI: Former RBI Governor Raghuram Rajan features in the list of probables for this year’s Nobel Prize in Economics, The Wall Street Journal has reported. He is one of the six economists on the list of probable winners compiled by Clarivate Analytics, a company that does academic and scientific research and maintains a list of dozens of […]
RIL offloads US shale gas assets as falling crude oil prices dent profits
MUMBAI: Reliance Industries Ltd (RIL) on Friday agreed to sell the first of its shale gas ventures—upstream Marcellus shale gas assets in northeastern and central Pennsylvania in the US—for $126 million. The assets held by Reliance Marcellus II LLC, a unit of Reliance Holding USA Inc. and Reliance Industries Ltd (RIL), were sold to BKV Chelsea […]
India most sustainable economy, says WEF
CHENNAI: India has been named one of the least wasteful and sustainable economies in a study by the world Economic Forum. While per-capita emissions are amongst the lowest in the world, it is also the third biggest generator of emissions given its position as the world’s third largest economy. India also has the largest number of […]
Laundering case: Mallya arrested in London, gets bail
LONDON: Beleaguered liquor baron Vijay Mallya was arrested in London on Tuesday in a money laundering case filed by India’s Enforcement Directorate (ED) before being released on a bail bond of £650,000 by the Westminster magistrates’ court. The 61-year-old fugitive businessman, who was arrested earlier this year and granted bail on an extradition warrant executed by the Metropolitan Police, was […]
US realty firm Greystone looks for investors from India
MUMBAI: New York-headquartered Greystone, a commercial real estate lending, investment and advisory company, has entered the Indian market. The company is planning to raise $57.5 million for Astoria Waterfront, a real estate project in the US, via 115 investors worldwide. The project has already bagged commitment from 35 investors. Click here to read more… Credit: thehindubusinessline.com
IBM now has more employees in India than in the US
BANGALORE: IBM dominated the early decades of computing with inventions such as the mainframe and the diskette. Its offices and factories, stretching from upstate New York to Silicon Valley, were hubs of US innovation long before Microsoft or Google came along. But over the past decade, IBM has shifted its center of gravity halfway around the world to India, making it a […]
US court trims fine on TCS to $420 mn in Epic Systems suit
NEW DELHI: IT major Tata Consultancy Services (TCS)+ on Sunday said that a US court has more than halved the compensatory and punitive damages demanded from the company to $420 million in a lawsuit filed by Epic Systems Corporation. The matter relates to a US grand jury order that slapped two Tata group companies — Tata Consultancy Services+ and Tata […]
L&T Infotech bags ‘$100 million contract’ to help pin down tax evaders
MUMBAI: The ambitious initiative to use social media analytics to identify tax non-compliance is a “$100-million project” for the infotech arm of engineering giant Larsen & Toubro+ , according to a company official. Since the note ban last November, the government has been putting in lots of efforts to plug the loopholes in the taxation system using […]
