Business News

Kolkata, 21 May 2017/--/Howrah railway station is set to go green with the installation of three megawatt rooftop solar panels on platform sheds. "We are executing a three megawatt rooftop solar project for eastern railway at a cost of Rs 21 crore which will probably be the largest rooftop solar...

Mumbai, 21 May 2017/--/The corporate healthcare sector is expected to clock a stable revenue growth of about 15 per cent this fiscal on account of rise in health insurance coverage and completion of new facilities, a report said. "We expect stable outlook on the corporate healthcare sector for FY...

Mumbai, 21 May 2017/--/Impresa Hospitality is planning pan India and overseas expansion of its Maroosh brand with 300 restaurants in the next five years, a top company executive said. "Currently we have 15 outlets under Maroosh brand, which is a quick service concept restaurant that fuses Lebanese...

Mumbai, 21 May 2017/--/The country's stock market wealth has grown by nearly Rs 50 lakh crore in three years since the Modi government was voted to power, with huge gains of over Rs 1 lakh crore each for big corporates like Tata, Birla, Ambani and Bajaj groups. Financial sector and industrial...

Mumbai, 21 May 2017/--/India Inc's credit profile was at its strongest last fiscal with less than 10 per cent of the corporate debt securities rated as unsafe for investment -- the lowest level so far for such issues. Credit rating agencies (CRAs) rated a total of 1,204 long-term corporate debt...

NEW DELHI, 21 May 2017/--/Retirement fund manager EPFO's advisory body Finance, Investment and Audit Committee (FAIC) will examine the proposal to increase investments in exchange traded funds (ETFs) to 15 per cent from 10 per cent on May 25. The Employees' Provident Fund Organisation's (EPFO)...

NEW DELHI, 21 May 2017/--/Pension fund managers will now have more investment options, with InvITs finally becoming a reality after two years and REITs in the offing. Pension regulator PFRDA has created a separate asset class for investment under which the funds can be invested into newly created...

Ahmedabad, 21 May 2017/--/Union Minister Arjun Ram Meghwal Friday said the country's tax net has grown due to the Centre's policies directed at the shadow economy in the last three years. "In the last three years, we laid a strong foundation for economic reform, which has helped increase economic...

Mumbai, 21 May 2017/--/Singaporean lender DBS, the first to apply for operating as a wholly-owned subsidiary two years ago, has said its request is pending with the Ministry of Finance and the lack of a precedent is causing delays. "A new category of banks have to be created...100 per cent owned...

NEW DELHI, 21 May 2017/--/The combined market valuation of six of the top-10 most-valued firms surged Rs 61,386.30 crore last week, with TCS being the top gainer. While TCS, HDFC Bank, ITC, SBI, HUL and IOC witnessed a rise in their market capitalisation (m-cap) for the week ended Friday, RIL,...

Kolkata, 19 May 2017/--/State Bank of India (SBI) posted an increase in Operating Profit from Rs.43,258 Cr in FY16 to Rs. 50,848 Cr in FY17 (17.55% YOY growth). Interest Income on Advances increased from Rs.1,15,666 Cr in FY16 to Rs.1,19,510Cr in FY17 (3.32%YOY growth). Interest Income on...

Kolkata, 19 May 2017/--/Kotak Mahindra Bank (Kotak), with the help of Blockchain technology reduces time taken for a Letter of Credit (LC) from 20-30 days to only couple of hours. Kotak claims to be the first bank to successfully complete the PoC (proof of concept) for end-to-end trade finance...

Durgapur, 19 May 2017/--/A safety exhibition covering the maintenance departments of DSP was organized at the Central Engineering Maintenance (CEM) shop today. A K Rath, CEO, DSP inaugurated the exhibition amid a large number of officials and employees of the plant. While speaking on the occasion,...

Srinagar, 19 May 2017/--/Education and healthcare will continue to be exempt from taxation in the upcoming GST regime that will tax services at four different rates with transport, including economy class air travel, being taxed at 5 per cent. The GST Council finalised four tax rates of 5, 12, 18...

NEW DELHI, 19 May 2017/--/Consumers stand to gain from the GST rates announced for daily consumption items which will also help keeping a check on prices, Consumer Affairs Minister Ram Vilas Paswan said on Friday. FMCG firms Dabur and Emami welcomed the rates on commonly used consumer items...

Srinagar, 19 May 2017/--/Motorcycles of more than 350 cc engine capacity will attract a total of 31 per cent tax under the GST regime, same as the tax incidence on private aircraft and luxury yachts. According to the rate structure finalised by the GST Council here, all cars, buses, trucks and...

NEW DELHI, 19 May 2017/--/A special court here on Friday convicted former coal secretary H C Gupta in a coal scam case. Special CBI Judge Bharat Parashar also convicted the coal ministry's then joint secretary K S Kropha and then director K C Samaria besides others in the case pertaining to...

Howrah/Kolkata, 19 May 2017/--/Days after the Union Cabinet cleared a proposal for setting up ten nuclear reactors, President Pranab Mukherjee on Friday stressed on the need for use of clean and renewable energy to meet the country's growing power demand. The president was inaugurating the country...

Mumbai, 19 May 2017/--/The Ministry of Medium, Small and Micro Enterprises (MSME) has a target to employ around five crore people through the khadi industry over the next five years, Union minister Giriraj Singh has said. "We have made a plan to introduce solar-run spinning wheels in KVIC (Khadi...

NEW DELHI, 19 May 2017/--/The Enforcement Directorate (ED) has registered a money laundering case against Karti Chidambaram, son of former finance minister P Chidambaram, and others, taking cognisance of a recent CBI FIR against them. Officials said the central probe agency registered an...

NEW DELHI, 19 May 2017/--/A plea by the Enforcement Directorate (ED) opposing the discharge of the Maran brothers in a money laundering case in connection with the Aircel- Maxis deal Friday led the Delhi High Court to seek their response. Justice S P Garg issued notice to former Telecom Minister...

NEW DELHI, 19 May 2017/--/Gold's allure went up by many notches Friday as the US political turmoil saw the bullion soar Rs 215 to Rs 29,200 per 10 grams, mirroring a firm overseas trend amid frenzied buying by local jewellers. This is the third straight day of gains by the yellow metal, which...

Mumbai, 19 May 2017/--/The rupee snapped its 3-day losing streak againgst the American currency by recovering 20 paise to close at 64.64 per dollar after hitting 65-level after one and half month on fresh selling of dollars by banks and exporters in view of weakness of dollar in the overseas market...

NEW DELHI, 19 May 2017/--/The Enforcement Directorate (ED) has filed a chargesheet against two Delhi-based brothers in connection with its probe into a Rs 8,000 crore money laundering case and attached their agricultural land. The chargesheet against the businessmen brothers Surendra Jain and...

Mumbai, 19 May 2017/--/The project management profession is likely to out perform total global job growth over the next decade, creating millions of new positions in India that pay highly-competitive wages, according to a report. "India will require 70 lakh new project managers in next 10 years....