Nitin Gadkari again woos Tesla to invest in India
New Delhi: Transport minister Nitin Gadkari who is on a visit to US has offered American automotive company Tesla various sops including land parcel to form joint ventures with Indian automobile companies to intorduce pollution free road transportation in India. In a press statement, the transport ministry said that Gadkari along with transport ministry officials visited […]
Reliance Industries: Relying on refining margins
Reliance Industries Ltd (RIL) had reported a premium of $3.1 per barrel over the Singapore gross refining margin (GRM) for the March quarter. For the June quarter, that premium was expected to expand further. However, the reported premium of $6.5 per barrel, the highest in the last eight years according to RIL, far exceeded Street […]
Complex generics, proprietary products to drive growth: Dr. Reddy’s Laboratories
New Delhi: Dr. Reddy’s Laboratories Ltd expects complex generics, proprietary products, including creation of branded generics platform in the US, to be the main drivers of its growth going forward. “Our growth, going forward, will be driven by the attractive pipeline of complex generics as well as our new proprietary products,” Dr Reddy’s Laboratories chairman K. […]
How do the falling circle rates affect you?
In the last week of June, Haryana government’s revenue department decreased the circle rates in Gurgaon. The new rates are now 15% lower in almost all areas of the city. This has been done for residential as well as commercial properties. In January, the Uttarakhand government had reduced circle rates in various parts of Dehradun. […]
Meet the inheritors of India’s business empires
MUMBAI: As India’s richest men hit their 60s and beyond, succession questions about the next generation of tycoons will increasingly emerge in a country where business is still dominated by family-run enterprises. Bloomberg has profiled some of these young guns of corporate India, selecting those who are 35 and under, based in India, have a public profile, […]
Mani Iyer, Appointed to New Foreign Direct Investment Advisory Council
HOUSTON: U.S. Secretary of Commerce Penny Pritzker announced the appointment of Mani Iyer, President & CEO of Mahindra North America among 19 private and public sector leaders to the Commerce Department’s newly established U.S. Investment Advisory Council (IAC). IAC members, representing U.S. companies, entities, and organizations with missions or activities that include the promotion or […]
Lafarge to sell India assets to Nirma for $1.4 bn
LafargeHolcim on Monday said it has entered into an agreement with Nirma Ltd to sell its entire 100% holding in cement maker Lafarge India for an enterprise value of $1.4 billion. The deal will be subject to approval from the Competition Commission of India (CCI), Lafarge said in a statement posted on its website. Lafarge […]
Del-Varanasi bullet train may cover 782km in 3 hrs
NEW DELHI: The second bullet train after the Mumbai-Ahmedabad corridor will run from Delhi to Varanasi, a distance of 782 km, and could complete the journey in just two hours and 40 minutes. The project connecting the capital to the pilgrimage city, which is also PM Modi’s Lok Sabha constituency, while passing through Lucknow has been fast-tracked […]
All eyes on currency, equity markets after RBI guv Rajan decides to go
Investors in the bond and stock markets are keeping their fingers crossed with the rupee expected to bear the immediate brunt of Reserve Bank of India chief Raghuram Rajan’s exit, analysts said on Sunday. The “rock star” central banker loved by foreign investors announced in a surprise move on Saturday that he won’t seek a second […]
Know market trends to reap better returns
After a long time spent abroad for work, Gayatri Majumdar and family is back in tinsel town for good. At the moment, she’s looking forward to an investment in Mumbai. What gives her the confidence to buy is that while realty is slow yet picking pace, provisions of the RERA act may in future do […]
Action plan signed on women’s economic empowerment
NEW YORK: Pakistan and the United States signed an action plan on Saturday on women’s entrepreneurship and economic empowerment as the two countries ended a major business conference here. The action plan was signed by the US Ambassador-at-Large for Global Women’s Issues, Catherine Russell, and Pakistan’s Additional Secretary of Commerce Robina Ather at a simple […]
Adani may abandon Australian coal mine project citing delays: report
Mumbai: Indian infrastructure conglomerate Adani Group may withdraw from the proposed $16 billion mining project in the Galilee basin of Queensland citing delays caused by environmental activists in the courts for the project. The Australian on Saturday reported that the company’s founder and chairman, Gautam Adani, had told the newspaper that the he was disappointed the “pit […]
Ramesh Maini: Silver Lining in a Dark Cloud
By Pradeep Anand HOUSTON: The oil and gas industry has never been for the faint of heart. It is harder for immigrants to be successful in it, especially with dark clouds of recession hovering over it. In this cloud of gloom, Ramesh Maini is an Indian American silver lining. Maini is the Founder and CEO […]
Local Entrepreneur Launches an Incubator for Eastern India
HOUSTON: Rick Pal, a Houston businessman, has launched the first private incubator and accelerator in Kolkata to spark innovation and entrepreneurship in eastern India. Known as Innokul with a tagline of “gurukul (school) for innovators”, he plans to incubate 6-10 early-stage startups every year. A program is already underway that will encourage building innovative solutions […]
Weak oil prices may hit remittances from Gulf nations: CRISIL
Continuing weakness in oil prices may impact remittances from Gulf countries into India, a report by domestic ratings agency Crisil said. However, it added that low oil prices have reduced the country’s trade deficit with Gulf Cooperation Council (GCC) countries. “The Gulf lost some charm for India last fiscal, both as a destination for exports […]
The number one thing we see in India is talent: Tim Cook
Tim Cook, chief executive officer at Apple Inc., is on his first official visit to India. It comes at a crucial time when the Cupertino, California-based firm is focusing on new growth markets such as India after posting its first-ever decline in iPhone sales in the first quarter of 2016. Apple’s chief spoke to NDTV’s […]
India should resist being too ambitious about growth: Raghuram Rajan
Mumbai: Reserve Bank of India (RBI) governor Raghuram Rajan has said India should restrain itself from being “too ambitious” at a time when the world is full of uncertainties and instead focus on sensible policies to ensure a sustainable economic growth. “Given the great uncertainty about outlook and policies of others in these times, a […]
Shell says will expand investments in India
Royal Dutch Shell Plc. will be committing further investments in India after its February merger with BG Group Plc., a spokesperson for the oil and gas company said. Shell has so far invested around $1 billion in its India operations. A Shell India spokesperson said by email, “We have a long history in India and […]
World’s cheapest smartphone Namotel Acche Din launched at Rs 99
BENGALURU: Here’s another attempt at offering cheap smartphone — and this time, it’s really cheap. Bengaluru-based Namotel is marketing Namotel Acche Din at an insanely low price of Rs 99, calling it India’s most affordable smartphone. At a press conference, the company’s promoter Madhav Reddy said that the smartphone is available for pre-booking from May […]
Galson Auto Receives the BBB Distinction Award Again
By Jawahar Malhotra HOUSTON: The list of companies which are vying for the Awards of Excellence from the Better Business Bureau has grown so much that the annual awards luncheon has been filled to capacity. For the second year in a row, over 1,000 people once again attended the event, which had to be moved […]
