Business News

Kolkata, 30 Jan 2018/--/ICICI Prudential AMC–Asset Management Company, inaugurated its sixth branch at BD - 15, 1st floor, Sector 1, Salt lake, Kolkata. The branch was formally inaugurated by Atul Jain (Zonal Head WB - ICICI Bank) and Amar Shah (Head - Retail Sales), in presence of several leading...

KOLKATA/CHENNAI, 30 Jan 2018/--/Indian Overseas Bank (IOB) has planned to set-up 704 more multi-functional machines like currency recyclers, instead of plain cash dispensing automatic teller machines (ATM) by March 2018 from its existing 400 across India before the financial year 2017-18 ends. The...

KOLKATA/GURUGRAM, 30 Jan 2018/--/SpiceJet, the low-cost carrier, announced 20 new non-stop flights on domestic routes starting from February 11, 2018. With this, the airline also strengthens its network across South with 18 new flights. Out of these 18 flights, ten will be catering to the popular...

KOLKATA/MUMBAI, 30 Jan 2018/--/The Export-Import Bank of India successfully launched a 10 year Bond issue of USD 1 bn, its second transaction in the 144A/Reg S format. This was the largest issuance ever for Export-Import Bank of India having previously raised a similar sized issuance in July 2016....

NEW DELHI, 30 Jan 2018/--/Elevated stock prices are a matter of concern and could correct sharply if they are not backed by growth, requiring “heightened vigilance”, Chief Economic Adviser Arvind Subramanian said on Tuesday. The growth is expected to decelerate to 6.75 per cent in the current...

Washington, 30 Jan 2018/--/Two Indian-Americans are among eight individuals charged with deceptive trading practices on commodities markets in the US. Jitesh Thakkar, 41, of Naperville, Illinois, has been charged in a criminal complaint with conspiracy and spoofing offences, along with six others...

NEW DELHI, 30 Jan 2018/--/Leading telecom operators, including Bharti Airtel and Reliance Jio, have committed to investing over Rs 74,000 crore to upgrade and expand their infrastructure to address the issue of call drops, Telecom Secretary Aruna Sundararajan said on Tuesday. "Telecom operators...

NEW DELHI, 30 Jan 2018/--/The Delhi High Court Tuesday sought the Centre's response on a plea by Sasan Power Ltd, a Reliance Power subsidiary, for permission to mine coal from its two coal blocks in excess of the 17 MTPA cap to enable it to run its 3,960 megawatt power project in Madhya Pradesh....

NEW DELHI, 30 Jan 2018/--/The Central Information Commission has directed the finance ministry to reply to a one-year-old RTI application seeking to know the total black money collected by the government post-demonetisation. Chief Information Commissioner R K Mathur, however, spared the Prime...

NEW DELHI, 30 Jan 2018/--/Gold gained Rs 120 at Rs 31,240 per 10 grams at the bullion market on Tuesday, snapping a two-day losing streak on fresh buying by local jewellers to meet the ongoing wedding season demand. Silver however remained under selling pressure and eased further by Rs 400 to Rs...

Mumbai, 30 Jan 2018/--/The rupee Tuesday staged a spirited recovery from its early sell-off and ended modestly lower by 2 paise at 63.60 against the US dollar. The domestic currency market largely withstood the global bonds meltdown as well as the sell-off in local bourses. The Indian unit...

Mumbai, 30 Jan 2018/--/Kotak Mutual Fund Tuesday announced the launch of a new scheme with an aim to invest across large cap, mid cap and small cap stocks. The new fund offer (NFO) for Kotak India Growth Fund Series 4 is open for subscription till February 12. "The fund aims to invest 80-100 per...

NEW DELHI, 30 Jan 2018/--/Showing strong preference for the booming equity market, Indian companies have raised just about Rs 4,125 crore through the non-convertible debenture (NCD) route in the first nine months of the ongoing financial year. They had, in contrast, garnered a staggering Rs 33,812...

Davos, 30 Jan 2018/--/A firm believer in formal banking systems, eminent banker Uday Kotak feels gold is the only alternative currency that has worked ever without any state support and sees no regulatory backing in immediate future for numerous crypto currencies that have cropped up. The most...

Kolkata, 4 Jan 2018/--/NABARD and SBI jointly signed a Memorandum of Understanding (MoU) on 2nd January 2018 with five selected NGOs of the State for promotion of 2500 Join Liability Groups in Purulia, Paschim Medinipur, Purba Medinipur, Burdwan and North 24 Parganas districts of West Bengal. The...

Kolkata, 4 Jan 2018/--/Maersk Line, the containerized division of the Maersk Group, at a recently concluded trade meeting in Kathmandu, Nepal, announced its intent to push for acceleration in trade in the country. The Nepal import market doubled in the past 5 years and Maersk line is confident of a...

Kolkata, 4 Jan 2018/--/Exide Industries Ltd, lead acid storage battery maker launched a new range of automotive batteries in the Indian market branded Epiq. The battery comes with a 6-year warranty – the highest in the Indian market, showing the company’s confidence in its cutting edge technology...

Kolkata, 4 Jan 2018/--/Transsion Group, mobile phone manufacturer and supplier of communication devices, has recently launched Oraimo, its smart accessory brand in India. Speaking on the launch, Guoli Liu, General Manager of Oraimo, Transsion Holdings said, “The growing mobile/smartphone adoption...

NEW DELHI, 4 Jan 2018/--/IndianOil Corporation (IndianOil), has adopted 2018 as the ‘Year of Trust.’ From Pradhan Mantri Ujjwala Yojana (PMUY) to daily price revision of petrol & diesel, to the decision to leapfrog BS-VI fuels supply to Delhi by April 1, 2018, two years before its actual...

Kolkata, 4 Jan 2018/--/Fronius India, supplier of solar PV string inverters, welding equipments and battery charging systems, is aiming to double its turnover by fiscal 2019. Set up in India in 2013, the company has been improving its profitability every year while clocking exceptional growth in...

Kolkata, 4 Jan 2018/--/Association of Microfinance Institutions – West Bengal (AMFI-WB) is all set to organize the “3rd Eastern India Microfinance Summit 2018” on 18th January, 2018 in Kolkata. Ajit Maity (Chairperson, AMFI-WB and Chairman, VFSPL), Chandra Shekhar Ghosh (Former Secretary, AMFI-WB...

NEW DELHI, 4 Jan 2018/--/Government's UDAY scheme has helped debt laden DISCOMs of 24 states to reduce losses to Rs 36,905 crore in 2016-17 from Rs 51,590 crore in the previous fiscal, Parliament was informed today. "As per data furnished by the states, the aggregate net losses of DISCOMs...

NEW DELHI, 4 Jan 2018/--/The finance ministry Thursday sought Parliament's nod for extra expenditure of Rs 80,000 crore towards recapitalisation of public sector banks through bonds. Meanwhile, sources said the proposed recapitalisation bonds to be given to public sector banks would have non-SLR...

NEW DELHI, 4 Jan 2018/--/State-owned Air India has tied up with UAE-based First Abu Dhabi Bank as well as Standard Chartered Bank and Mashreq Bank to avail short-term loans for acquiring three Boeing 777 aircraft, Union minister Jayant Singh said on Thursday. Two of the aircraft are to be used for...

NEW DELHI, 4 Jan 2018/--/Vexatious lawsuits involving big corporates of telecom, medicines and media sectors came up in 2017 before the Delhi High Court which passed significant orders including halting a multinational pharma major's bid to enjoy patent rights forever on its breast cancer drug....