Business News

Buenos Aires, 14 Dec 2017/--/Bringing disappointment to developing countries like India, the talks at the WTOs 11th ministerial conference collapsed, with the US going back on its commitment to find a permanent solution to the public food stockholding issue. The four-day conference, which ended...

NEW DELHI, 14 Dec 2017/--/The Supreme Court Thursday allowed the appointment of presiding arbitrator/chairman in the second arbitration initiated by Vodafone against India in connection with a tax demand of Rs 11,000 crore through a retrospective law of 2012. A bench of Justices A K Sikri and...

London, 14 Dec 2017/--/Vijay Mallya, who is undergoing an extradition trial in a UK court over Rs 9,000-crore fraud and money laundering charges, will face next year a parallel litigation brought by 13 Indian banks to freeze nearly $1.5 billion of his assets. According to court documents submitted...

NEW DELHI, 14 Dec 2017/--/Availability of energy with efficiency is the backbone of India's economic growth and development President Ram Nath Kovind said on Thursday. He said that while India has succeeded in becoming a power surplus nation in the past three years, it cannot rest. "Our needs...

NEW DELHI, 14 Dec 2017/--/The Enforcement Directorate (ED) is set to issue fresh notices to more than 45 Indian entities named in the Panama Papers list on charges of possible forex law violations, official sources Thursday said. The agency, they said, is investigating about 46 "actionable" cases...

Mumbai, 14 Dec 2017/--/The Tata Group and the US corporate giant GE have signed an agreement to manufacture components for CFM International's LEAP engines in the country, which will also serve the American company's global supply chain. The two companies also announced their intention to jointly...

Mumbai, 14 Dec 2017/--/Gold prices recovered by Rs 255 to Rs 28,610 per 10 grams at the bullion market here on Thursday, largely driven by a firm trend overseas amid pick-up in buying by jewellers and retailers. Silver too advanced by Rs 670 to regain the Rs 37,000 per kg mark on increased offtake...

Mumbai, 14 Dec 2017/--/The rupee broke off a two-session fall and rebounded by 10 paise to end at 64.34 against the US currency on fresh bouts of dollar selling by exporters a day after Federal Reserve's dovish rate hike. Domestic currency market largely withstood volatility and impact from the...

New York, 14 Dec 2017/--/Walt Disney Co. Thursday said it had reached a deal to buy 21st Century Fox for USD 52.4 billion in stock, solidifying its position as a producer of entertainment content as it faces new rivals from Silicon Valley. The deal will see Disney acquire film and television...

Mumbai, 14 Dec 2017/--/Global rating agency Moody's Thursday said it has a stable outlook for non-financial corporate in the country, except for telcos, on which it has a negative outlook for 2018. The agency also has stable outlooks for car-makers, and companies in the construction, cement, and...

Kolkata, 1 Dec 2017/--/Eastern Railway has secured first position both in passenger traffic and earnings with a growth of 4.05% and 3.25% respectively in suburban segment amongst all Zones over Indian Railways. The assessment was made according to the performance evaluated upto 20.11.2017. Eastern...

Kolkata, 1 Dec 2017/--/As a result of intensive and on-going efforts of Eastern Railway to arrest ticketless travel, during November 24 to 30, 2017, as many as 41,478 persons were detected for travelling without or improper tickets and carriage of unbooked luggage and an amount of Rs.76,44,034 was...

NEW DELHI, 1 Dec 2017/--/The Tatas had formally shown an interest in Air India's stake sale, Union Minister of State for Civil Aviation Jayant Sinha said on Friday. The government has given its nod for the disinvestment of Air India, which has a debt of over Rs 50,000 crore and is staying afloat...

NEW DELHI, 1 Dec 2017/--/Sinha also said the domestic and international operations of Air India would be sold together. The government has initiated the process for strategic disinvestment of debt-laden Air India as part of efforts to revive the national carrier. "What we will be offering through...

NEW DELHI, 1 Dec 2017/--/Billionaire Mukesh Ambani Friday hit back at Bhartis Sunil Mittal for blaming his telecom venture Jio for the industrys losses, saying businesses must stop looking at regulators and governments to guarantee their profits. Calling Mittal a "friend", he said profits and...

NEW DELHI, 1 Dec 2017/--/Finance Minister Arun Jaitley Friday said the Goods and Services Tax (GST) has made doing business easier for traders by expanding the market place and reducing tax compliance burden. He further said that the two structural reforms -- GST and demonetisation -- will benefit...

Bhubaneswar, 1 Dec 2017/--/Industry body ASSOCHAM has requested Odisha government to exempt electricity duty for ferro alloy plants to encourage investment for setting up of metallurgical plants across the mineral-rich state. Metallurgical sector not only provides employment opportunities to...

NEW DELHI, 1 Dec 2017/--/Emami Agrotech Ltd has taken up the multi-modal transportation route leveraging Inland waterways to connect North East India from its Haldia refinery in West Bengal. The company sent its first shipment of 250 tonnes of packed edible oil from Haldia Port to Agartala via the...

NEW DELHI, 1 Dec 2017/--/The Supreme Court Friday directed the CBI to complete in the next six months its probe into allegations of irregularities in purchase or hiring of 111 aircraft for Air India for a whopping Rs 70,000 crore when Praful Patel was the civil aviation minister. The top court...

NEW DELHI, 1 Dec 2017/--/India's Enforcement Directorate on Friday conducted raids in Chennai and Kolkata, including at the premises of a relative of former finance minister P Chidambaram, in connection with its money laundering probe in the Aircel-Maxis case, official sources said. They said four...

NEW DELHI, 1 Dec 2017/--/The Railways and Coal India Ltd have surpassed their own record by loading 257 freight rakes of coal to meet the demand of power plants. "Coal India and Railways achieved loading of 257 rakes today to push more coal to power plants," Coal India director (marketing) S N...

NEW DELHI, 1 Dec 2017/--/Ford India Friday reported a 28.63 per cent increase in total sales at 27,019 units in November this year. The company had sold 21,004 units in the same month last year, Ford India said in a statement. Domestic sales were up 13.1 per cent at 7,777 units last month as...

NEW DELHI, 1 Dec 2017/--/Gold tumbled by Rs 150 to Rs 30,250 per ten gram at the bullion market on Friday, hit by a subdued trend overseas and falling demand from local jewellers. Silver too faced selling pressure and lost Rs 125 to Rs 39,200 per kg. Traders said the global weakness of precious...

Kolkata, 1 Dec 2017/--/Racold Thermo, part of the Italian firm Ariston Thermo Group, is expanding its footprint to mini-metros, tier II and III towns to offset disruptions in construction sector which accounts for bulk of its sales. The company is also planning to tie up with Flipkart to tap the e...

Mumbai, 1 Dec 2017/--/The Edelweiss Group has launched an alternative investment fund that will invest in companies looking to go public in the near-term and is targetting to raise a corpus of Rs 1,750 crore for the fund. The Edelweiss Crossover Opportunities Fund comes at a time when the IPO...