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
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
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
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 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 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 […]
ONGC seeks market freedom to open India’s 8th sedimentary basin
State-owned Oil and Natural Gas Corp (ONGC) has sought pricing and marketing freedom to help bring to production a one-trillion cubic feet gas discovery that will open up a new sedimentary basin after over three decades. ONGC, which has opened for commercial production six out of India’s seven producing basins, has made a significant natural […]
Microsoft may invest up to $100 mn in Ola parent
BENGALURU: Microsoft Corp. could invest $50-100 million (Rs320-640 crore) for a small stake in ANI Technologies Pvt. Ltd, which runs Ola, in a deal that could see the ride-hailing service switch to Microsoft’s Azure cloud platform from Amazon Web Services (AWS), two people familiar with the matter said. Microsoft chief executive Satya Nadella has been pushing […]
RBI sets rupee reference rate at 64.3580 against dollar
The Reserve Bank of India today fixed the reference rate of the rupee at 64.3580 against the US dollar and 75.0607 for the euro. The corresponding rates were 64.4494 and 75.1287,yesterday. According to an RBI statement, the exchange rates for the pound and the yen against the rupee were 83.8778 and 58.05 per 100 yens, […]
Supreme Court orders Sahara chief Subrata Roy to pay Rs 1,500 crore to SEBI, deadline is September 7
The Supreme Court on Tuesday directed Sahara chief Subrata Roy to deposit Rs 1,500 crore in SEBI-Sahara account by September 7 to establish his bona fide, news agency PTI reported. The Sahara chief, who has spent almost two years in jail and is out on parole since May 6 last year, was arrested for Sahara […]
Undue profit of over Rs 1 crore to come under GST authority’s lens
The proposed anti-profiteering authority under the new GST regime will take up for scrutiny only those cases that have mass impact and those where undue profit of more than Rs 1 crore has been earned, a senior government official said. A five member National Anti-Profiteering Authority, headed by a secretary-level officer, will be set up […]
Indians among top investors in residential property in US
MUMBAI: The pall of gloom owing to protectionist policies has not kept Indians residing in the US from investing in real estate. By purchasing residential property worth $7.8 billion during the 12-month period ending March 2017, Indians emerged as the fifth largest investors in real estate in the US. Backed by mortgage finance, these properties were largely acquired for use as […]
Hanmi Launches Instant Issue Debit Card Service: Instant Issue Debit Card Service to be available at all branches by the year-end
HOUSTON: Hanmi Bank customers can now enjoy the benefits of debit card instant issue service. ‘Instant Issue’ allow customers to receive his/her debit card immediately at a branch, instead of having to wait weeks to obtain a new debit card. Previously, customers had to wait 2-3 weeks to receive a new debit card or replace […]
Tech Mahindra to hire over 2,000 people in US this year
IT major Tech Mahindra plans to hire around 2,200 people in the US this year, same as last year, amid the American government’s call for creation of jobs in the country. The Mumbai-based company, which has over 6,000 people working for over 400 clients in the US, has been recruiting resources out of colleges in […]
Mahindra group plans to invest $1 billion in US over five years
NEW YORK: Diversified Mahindra group plans to invest $1 billion across business verticals in the US over the next five years as it aims to double revenues from the American market to $5 billion. The Mumbai-headquartered group, which currently employs around 3,000 people in the country, also plans to double the headcount over the next five […]
No GST on sale of old gold jewellery, vehicles by individuals
A day after the government said that sale of old gold jewellery will attract 3 per cent Goods and Services Tax (GST) via the reverse charge mechanism, it clarified that sale of old gold jewellery as well as old vehicles by ‘individuals’ will not attract any GST. However, if an unregistered supplier of gold ornaments […]
Infosys reports net profit of Rs 3483 crore in Q1, revenue from operations rises 1.8 per cent
India’s second-biggest software services exporter Infosys Ltd reported a 1.4 per cent increase in first-quarter profit on Friday, reported Reuters. Assisted by key client wins, it also managed to slightly beat street estimates. The company also said it added eight clients in its $100 million category. On Friday morning, Infosys posted a consolidated net profit of […]
Southwestern National Bank Presents 2017 Scholarship Awards
HOUSTON: Southwestern National Bank (SNB) presented its 12th annual scholarship awards on July 6, to assist in facilitating the education of deserving high school graduates in our community. SNB CEO Gary Owens congratulated the scholars and wished them all a bright and successful future. Bank officials hope that the scholarships will help young […]
Google acquires Bengaluru AI start-up Halli Labs
Google Inc. has acquired Halli Labs, a four-month old start-up out of Bengaluru that is developing artificial intelligence and machine learning solutions. Halli Labs announced the acquisition late Wednesday. “We will be joining Google’s Next Billion Users team to help get more technology and information into more people’s hands around the world,” the company said […]
The first Indian cruise to Antarctica
As it happens, about 750 million years ago, India and Antarctica were joined at the hip. Covered in ice, thick and inseparable. Cut to the present: They are at least three flights and one spectacular voyage apart. A distance that few—fewer than 200 out of 20 million—outbound Indian tourists cover every year. A poor showing […]
