Business News

NEW DELHI, 23 Apr 2017/--/The Income Tax Department is likely to challenge in high court a tax tribunal order giving relief to British oil firm Cairn Energy plc from payment of interest on a Rs 10,247 crore tax demand it had raised retrospectively. The department feels its January 2016 final...

Washington, 23 Apr 2017/--/Union Finance Minister Arun Jaitley has expressed disappointment over the slow pace of IMF quota reforms and said any further delay would erode the legitimacy and credibility of the multi-lateral organisation. The minister, who is here for spring meetings of the...

Mumbai, 23 Apr 2017/--/Being appreciated at work not only benefits the receiver but also the giver as they feel more confident and driven, according to a recent survey. According to a research by OC Tanner, employees who frequently give recognition feel more confident, driven and dedicated to the...

Hyderabad, 23 Apr 2017/--/Mortality rate among start-ups in India is not alarming, and their success ratio is actually good and on par with global trend, said an expert in information technology (IT) industry. "In the start-up industry (in India), if you look at ten companies at least three or...

Kolkata, 23 Apr 2017/--/As part of its corporate social responsibility (CSR), state-owned Coal India Ltd has started two projects at Dakshineswar Kali temple and Babadham temple in Deoghar to produce organic fertiliser from floral waste. "Eastern Coalfields Ltd (ECL), a CIL subsidiary has already...

Mumbai, 23 Apr 2017/--/Leading alloy-maker JSW Steel is planning to increase its manufacturing capacity to 40-45 million tonne by 2030 from the present 18 million tonne. "Today we have 18 mt installed capacity which is 15 per cent of the national steel manufacturing capacity of 128 mt. If the...

Mumbai, 23 Apr 2017/--/Multiplex operator Inox Leisure is planning to add 50 screens each year as it eyes a revenue of Rs 2,000 crore in the next three years, a top company official has said. "On an average, we are trying to add about 50 screens organically per year. Other than our 468 operational...

Mumbai, 23 Apr 2017/--/Tata Cleantech Capital (TCCL) is looking at growing its asset book to around Rs 5,500 crore by fiscal 2019, with nearly USD 120 billion debt funds expected to flow into the renewable energy space in the next five years. TCCL, a joint venture between Tata Capital and...

Hyderabad, 23 Apr 2017/--/The Labour Ministry is planning to send teams of experts to other countries to study the investment pattern of provident funds in stock markets, Union Minister Bandaru Dattatreya said on Sunday. The EPFO cumulatively invested Rs 21,559 crore in Exchange Traded Funds (ETFs...

NEW DELHI, 23 Apr 2017/--/India Post Payments Bank (IPPB) will start selling mutual funds and insurance products of other companies by early 2018 and is open only to "non- exclusive" tie-ups, its Chief Executive A P Singh has said. Nearly 100 firms, both domestic and foreign, have evinced interest...

Mumbai, 23 Apr 2017/--/Faster growth in group single premia products of LIC, that constitute around 60 per cent of its business, pushed up total new premium income of the life insurance industry by 26 per cent in fiscal 2017 to Rs 1.75 trillion from Rs 1.39 trillion a year ago. Most of the...

NEW DELHI, 23 Apr 2017/--/Leading bourse NSE has decided to delist as many as 19 firms including Deccan Chronicle Holdings Ltd and Koutons Retail India Ltd from its platform from next month. This is in addition to 70 companies that were delisted by NSE in August and March. The National Stock...

Mumbai, 23 Apr 2017/--/The recent launch of commodity futures at the BSE international exchange (India INX) in the Gift City has given trading volumes a leg-up, with the total business registering an 11-fold growth to USD 37.5 million. The India INX was launched with index and equity futures in...

Mumbai, 23 Apr 2017/--/The Finance Ministry has initiated detailed discussions with select public banks to assess their growth blueprint over the next three years and seek turnaround plans to check if they need more growth capital. The Department of Financial Services will be meeting...

Patalganga (Maharashtra), 23 Apr 2017/--/Financial awareness, and not tax incentives, is required to bring in more investors into the capital markets, SEBI Chairman Ajay Tyagi Sunday said. "People should be (financially) aware. To take everyone along and to help them understand the potential of...

Mumbai, 23 Apr 2017/--/Capital markets regulator Sebi will soon put in place stricter norms to check any flow of black money into stock market though controversy-ridden P-Notes and also initiate steps for allowing mutual fund investments through e-wallets. Besides, Sebi will consider this week new...

Kolkata, 20 Apr 2017/--/BlueStone.com, online destination for fine jewellery, is targetting steady growth in traditional markets such as West Bengal. Kolkata recorded a 70% growth in revenue in 2016, over the previous year making it one of the top six markets for BlueStone.com. BlueStone.com is...

Burnpur, 20 Apr 2017/--/SAIL organised a visit of a group of customers to its IISCO Steel Plant at Burnpur on Wednesday to have a first-hand look at the production facility of state-of-the-art Universal Section Mill (USM). Chief Executive Officer Rajesh K Rathi complemented this joint effort with...

KOLKATA/NEW DELHI, 20 Apr 2017/--/The easy availability of the quality domestic coal has started leading towards reduction in the power costs for the consumers in the country. The downward trend is witnessed on the back of coal sector reforms initiated in the last couple of years. The initiatives...

Mumbai, 20 Apr 2017/--/RBI Governor Urjit Patel told the Monetary Policy Committee (MPC) that there is room for banks to further cut interest rate while sounding a note of caution on inflation front in the coming months. The six-member MPC, headed by Patel, had opted for status quo on the...

NEW DELHI, 20 Apr 2017/--/The RBI's 'prompt corrective action' (PCA) framework suggests a greater willingness to regulatory action to address problems of struggling banks, Fitch Ratings said on Thursday. However, its implementation is only likely to be effective if it is matched by credible plans...

NEW DELHI, 20 Apr 2017/--/The Supreme Court Thursday allowed civic agency NDMC to e-auction five-star hotel Taj Mansingh, presently being run by Tata Group firm Indian Hotels Company (IHCL), in the heart of the national capital. A bench comprising Justices P C Ghose and R F Nariman allowed the...

NEW DELHI, 20 Apr 2017/--/Indian Hotels Company on Thursday said it intends to participate in the e-auction for the Taj Mansingh property, which the Tata Group firm has been running for decades. The Indian Hotels Company Ltd (IHCL) had on November 8 last year approached the Supreme Court against...

NEW DELHI, 20 Apr 2017/--/RBI Governor Urjit Patel has been asked by a parliamentary panel to appear before it again on May 25 over demonetisation issue after former prime minister Manmohan Singh prevailed over BJP MPs in the panel to call him. Interestingly, Patel was spared a grilling when he...

Washington, 20 Apr 2017/--/The IMF has raised concerns over China's credit boom which has more than doubled in less than a decade, saying this can be "dangerous" for the world's second largest economy. "China is a key contributor to global growth but also has notable vulnerabilities. Credit in...