Business News

NEW DELHI, 12 Feb 2019/--/Industrial output growth remained subdued at 2.4 per cent in December 2018 on account of contraction in the mining segment and poor show by the manufacturing sector. Factory output as measured in terms of the Index of Industrial Production (IIP) had grown by 7.3 per cent...

NEW DELHI, 12 Feb 2019/--/Gold futures traded lower by Rs 0.21 per cent at Rs 32,976 per 10 grams Tuesday amid a weakening global trend and profit-booking by speculators. Gold for delivery in April was trading lower by Rs 70, or 0.21 per cent, at Rs 32,976 per 10 grams in a business turnover of...

Mumbai, 12 Feb 2019/--/The rupee strengthened by 6 paise at 71.12 against the dollar in opening trade Tuesday, maintaining its upward trend for the sixth straight day on continued selling of the US currency by exporters and banks. Besides, optimism ahead of index of industrial production (IIP)...

NEW DELHI, 12 Feb 2019/--/Finance Minister Piyush Goyal on Tuesday said that the tax related proposals in the Finance Bill are aimed at helping the poor and the middle class people living on a tight budget. The Minister, while moving the Finance Bill for consideration and passage in Lok Sabha,...

GREATER NOIDA (UP), 10 Feb 2019/--/India on Sunday offered 23 oil and gas and coal-bed methane blocks for bidding in the third round of Open Acreage Licensing Policy (OLAP) as it looks to more than double the area under exploration to raise domestic output and cut imports. Oil Minister Dharmendra...

NEW DELHI, 10 Feb 2019/--/The finance ministry has sought from the Reserve Bank of India (RBI) Rs 27,380 crore that was withheld by the central bank towards risks and reserves in the previous years, said sources. The RBI had retained Rs 13,190 crore towards risks and reserves during 2016-17. It...

NEW DELHI, 10 Feb 2019/--/State-owned State Bank of India (SBI) and Oriental Bank of Commerce (OBC) have put on sale various financial accounts to recover dues of around Rs 5,740 crore. The country's largest lender SBI has invited bids from asset reconstruction companies (ARCs) and financial...

Shimla, 10 Feb 2019/--/The Himachal Pradesh government will implement the 10 per cent quota for economically weaker sections of the general category, Chief Minister Jai Ram Thakur said while presenting the budget for FY 2019-20. He also announced that people who had been arrested under the...

NEW DELHI, 10 Feb 2019/--/Food Processing Minister Harsimrat Kaur Badal Sunday inaugurated Cremica Food Park, which is the first mega food park of Himachal Pradesh. "Food Processing Industries Harsimrat Kaur Badal today inaugurated Cremica Mega Food Park Pvt Ltd via video conference. The Park is...

Kolkata, 10 Feb 2019/--/SUGAR Cosmetics announced the opening of its first ever exclusive brand outlet in India. Located at Forum Mall, the store will house Sugar’s entire product spectrum in a specially-curated brick and mortar experience. From a range of crush-worthy shades for lips and...

Kolkata, 10 Feb 2019/--/Apollo Hospitals Q3FY19 PAT grew by 29% to Rs. 869 million. Q3FY19 Standalone Revenues grew 17% to Rs. 21,690 million compared to Rs. 18,561 million in Q3FY18, aided by SAP growth of 18% and Healthcare services growth of 16% YoY. HC services growth of 16% YoY was led by new...

Dehradun, 10 Feb 2019/--/Bihar Deputy Chief Minister Sushil Kumar Modi on Sunday said prohibition cannot work everywhere as it did in his state. Replying to a question on the recent hooch tragedy of Uttarakhand in which many people from the state as well as neighbouring Uttar Pradesh died after...

NEW DELHI, 10 Feb 2019/--/Over 1,800 mementos Prime Minister Narendra Modi received were auctioned in a fortnight-long exercise which began last month, the PM's office said Sunday. It is, however, not clear how much funds were generated through the auction, the proceeds of which will be used for...

Bhubaneswar, 10 Feb 2019/--/East Coast Railway (ECoR) Sunday said it has invited tender for a major bridge on Tel river as part of the 289-km Khurda Road-Balangir new line project. The long-awaited rail line project, which was sanctioned in 1994-95, seeks to connect western Odisha with coastal...

Kolkata, 10 Feb 2019/--/The West Bengal government has decided to develop the third pump storage power plant at Purulia under the public-private partnership (PPP) model and it has already received early interest proposals from investors, a state government official said. JSW Group Chairman and...

NEW DELHI, 10 Feb 2019/--/Tata group firm Voltas Sunday said it will invest over Rs 500 crore to set up a manufacturing facility in Tirupati, Andhra Pradesh.  "This facility will initially manufacture and assemble air conditioners and related cooling products with a total capacity of more than 1...

Aizawl, 10 Feb 2019/--/After the withdrawal of flights to Guwahati and Delhi from here by Jet Airways, Mizoram now has direct air link with Kolkata only, officials said Sunday. The Saturday Jet Airways Aizawl-Guwahati flight was the last one to take off from Lengpui Airport here as the airline has...

NEW DELHI, 10 Feb 2019/--/IDFC on Saturday reported an 11-fold jump in net profit for the December quarter at Rs 26.28 crore, mainly due to a tax adjustment. The company's standalone net profit stood at Rs 2.40 crore in the quarter ended December 31, 2017, it said in a statement. The company's...

NEW DELHI, 10 Feb 2019/--/India is unlikely to achieve its target of 100 gigawatt (GW) solar electricity capacity as it faces short-term uncertainty due to imposition of various taxes, research and consultancy firm Wood Mackenzie said. India's installed grid-connected power generation capacity...

NEW DELHI, 10 Feb 2019/--/Trai said Friday its regulation does not stop operators from offering discounts or lowering network capacity fee for second or subsequent connections in the same household, but such discounts should be offered uniformly in a location and declared transparently on the...

Thiruvananthapuram, 10 Feb 2019/--/Stressing creation of a comprehensive and reliable data base of public assets and resources to prepare and implement development plans, Kerala IT Secretary M Sivasankar Saturday said the problems arising from its absence was felt during post-flood relief...

Bhubaneswar, 9 Feb 2019/--/Odisha Chief Minister Naveen Patnaik Friday demanded that the Centre immediately release food subsidy bills amounting of Rs 3,654 crore payable to the state to protect farmers' interest. "It is a matter of concern that the subsidy bills amounting to Rs 3654.41 crore (...

Dubai, 9 Feb 2019/--/Public debt has rapidly increased in many Arab countries since the 2008 global financial crisis, due to persistently high budget deficits, the International Monetary Fund warned Saturday. "Unfortunately, the region has yet to fully recover from the global financial crisis and...

Mumbai, 9 Feb 2019/--/Union Commerce Minister Suresh Prabhu Saturday launched a scheme with an objective to provide a platform for women Self Help Groups (SHGs), and a competition to boost entrepreneurship at the district level in Maharashtra. The scheme, 'Hirkani Maharashtrachi', and 'District...

Shimla, 9 Feb 2019/--/Himachal Pradesh Chief Minister Jai Ram Thakur focussed more on the rural population, which constitutes 80 per cent of the state, while presenting a Rs 44,388 crore 'populist' budget for the financial year 2019-20 in the state assembly Saturday. No new tax has been proposed...