Business News

NEW DELHI, 30 May 2018/--/Justice R K Agrawal, who retired as Supreme Court judge earlier this month, was appointed the president of the National Consumer Disputes Redressal Commission (NCDRC) recently. He will succeed Justice D K Jain, who completes his term on May 31. The Appointments Committee...

NEW DELHI, 30 May 2018/--/Markets regulator Sebi has sought information from Jet Airways following a complaint of alleged fraudulent practices. In a filing to the stock exchanges Wednesday, the airline said last month the regulator sought views of the statutory auditors and the audit committee on...

New Delhi/Mumbai, 30 May 2018/--/The Enforcement Directorate on Wednesday conducted fresh searches in five states in connection with the NSEL money laundering probe case, officials said. They said the raids, under the Prevention of Money Laundering Act (PMLA), are being conducted in Delhi,...

Kuala Lampur, 30 May 2018/--/Shares of budget carrier AirAsia fell to a six-month low on Wednesday after Indian authorities raided the airline's local offices and accused its boss Tony Fernandes of illegally obtaining operating licences.-* The Central Bureau of Investigation (CBI) said yesterday...

KOLKATA/NEW DELHI, 19 May 2018/--/Steel Authority of India Ltd. (SAIL)partnering consistently in every major infrastructure project of national importance and relevance has supplied more than 50% steel for the Kishanganga Hydroelectric power project, inaugurated today by Hon’ble Prime Minister Shri...

KOLKATA/NEW DELHI, 19 May 2018/--/Morepen Laboratories Ltd. has reported a 25 per cent rise in its consolidated net profit at Rs. 29.59 crore for the financial year 2017-18. The net profit in the previous financial year i.e. FY 2016-17 stood at Rs. 23.63 crore. The consolidated net sales revenue...

Kolkata, 19 May 2018/--/Okinawa Scooters India’s fastest growing electric two-wheeler manufacturing company, recently showcased three of its top offerings at the 6th edition of the eco-friendly expo on electric vehicles, the EVEXPO EAST 2018. Organised by Altius Auto Solutions, with the support of...

Kolkata, 19 May 2018/--/Runs, a block chain-based e-commerce platform offering unique experiences has closed an equity round of US 1 Million from US investors. The round is backed by Panamax Capital, Beast Capital and Columbia Angels. Runs is led by Giri Devanur who is an EY Entrepreneur of the...

Bhubaneswar, 19 May 2018/--/The Odisha Chief Minister Naveen Patnaik Saturday urged the prime minister to set up a dedicated defence industry corridor and an aeronautical university in the state. In a letter to the Prime Minister Narendra Modi, he said Odisha had a comprehensive ecosystem and...

Kolkata, 19 May 2018/--/The state-owned Bank of India (BoI) would be able to realise around Rs 1993 crore from the first successful NCLT resolution concerning Tata Steel and Bhushan Steel, an official said. The amount would not include hair-cuts, BoI managing director and chief executive officer D...

Mumbai, 19 May 2018/--/The Bombay High Court has directed the Mumbai Police to constitute a "special team" of officials, who are experienced in dealing with cyber crimes, to probe into allegations of defamatory emails received by a subsidiary company of the Tata Motors. A vacation bench, presided...

Lucknow, 19 May 2018/--/A high-level delegation of the UP government, led by state health minister Sidhartha Nath Singh, was on a visit to the US, where it had detailed discussions with top American industrialists about the investment opportunities in the state. The delegation visited the country...

NEW DELHI, 19 May 2018/--/In a cost-cutting measure, the Railway Board has decided to stop the supply of Rail Neer bottled water at its Rail Bhavan headquarters and asked officials to either bring water from home or drink the water of the recently-installed RO plants. In a circular issued on May...

Bhubaneswar, 19 May 2018/--/An organisation of stake holders in the Aluminium industry on Friday said it has plans to set up a museum on aluminium at Bhubaneswar soon. Aluminium Association of India (AAI) president T K Chanda said this while addressing the International Museum Day celebration at...

NEW DELHI, 19 May 2018/--/Allaying fiscal concerns, the Finance Ministry Friday said macro-economic parameters continue to be "very sound" and it may even reduce its borrowing target for the second half of 2018-19. The government will be borrowing a total of Rs 2.88 lakh crore in the April-...

Mumbai, 19 May 2018/--/Capital markets regulator Sebi on Friday said it is "disappointed" with company secretaries for lack of disclosures regarding actions taken by stock exchanges in secretarial audits of companies. "I was rather disappointed to see that many of the secretarial audit reports did...

Mumbai, 19 May 2018/--/The embattled rupee witnessed a virtual free fall - plummeting sharply by a staggering 67 paise to end at a fresh 16-month low of 68 against the US currency on heavy dollar demand amid global macro challenges. The Indian rupee hit news headlines during the week after...

NEW DELHI, 19 May 2018/--/Gold prices softened by Rs 40 to Rs 31,950 per ten grams at the bullion market on Saturday owing to slackened demand from local jewellers even as the metal strengthened overseas. On the other hand, silver recaptured the Rs 41,000-mark by surging Rs 330 to Rs 41,200 per kg...

Kolkata, 3 Apr 2018/--/A container train on Tuesday left for Bangladesh from the Majherhat station here in a trial run which is likely to soon turn into a regular service to meet the growing demands for faster and safer transportation of goods between India and its neighbour. The container train,...

NEW DELHI, 3 Apr 2018/--/Apportioning blame to the Reserve Bank of India (RBI) over the PNB loan fraud , Central Vigilance Commissioner K V Chowdary Tuesday said there had been "no apparent audit" by the central bank during the period of the scam. Chowdary stressed the need to put into place a...

NEW DELHI, 3 Apr 2018/--/Facing allegations of wrongdoing in the loan extended to Videocon Group, ICICI Bank MD and CEO Chanda Kochhar has pulled out of the annual session of FICCI Ladies Organisation (FLO) to be held this week, where she was to be felicitated by President Ram Nath Kovind,...

London, 3 Apr 2018/--/Rupert Murdoch's 21st Century Fox Tuesday proposed selling rolling TV channel Sky News to Disney in order to finally seal control of pan-European satellite broadcaster Sky. Fox -- which for a long time has sought to buy the 61 percent of British pay TV giant Sky that it does...

NEW DELHI, 3 Apr 2018/--/The railways has registered a healthy growth in revenues from ticketing last fiscal despite competitive prices on offer from airlines and without raising fares, official data shows. In 2017-2018, the national transporter earned Rs 50,000 crore from passenger fare, an...

NEW DELHI, 3 Apr 2018/--/No bureaucrat will be entitled to ISD facility on residential telephones from the government, though only secretary-level officers can have such facility on their office landline phones, Finance Ministry guidelines stated. Issuing comprehensive guidelines for telephone...

Mumbai, 3 Apr 2018/--/Profit margins for bulk tea producers, particularly in north India, is likely to improve in the just-concluded financial year on firm price trends from August 2017 to January 2018, a report said on Tuesday. However, going forward, the new wage agreement that would be...