Business News

NEW DELHI, 22 Sep 2017/--/The Union government has come out with an estimate that valid transitional credit claims of taxpayers in July -- the first month of GST -- are just Rs 12,000 crore and not Rs 65,000 crore as previously claimed. As much as Rs 65,000 crore out of the about Rs 95,000 crore...

Lucknow, 18 Sep 2017/--/Stressing the need for creating more opportunities for women, Uttar Pradesh Deputy Chief Minister Keshav Prasad Maurya today said that campaigns like Standup Women and Standup India will act as a force multiplier in India's economic development. The deputy chief minister...

Patna, 18 Sep 2017/--/Union minister R K Singh today said that the Centre proposes to make India the number one country in both generation and consumption of power but set no time-frame to achieve the goal. "We are the third largest country in the world vis-a-vis power generation but we are the...

Mumbai, 18 Sep 2017/--/Assets under management of ICICI Prudential's balanced advantage fund, an open ended equity fund, has doubled at Rs 20,877.54 crore in two years. The fund had crossed Rs 10,000-crore landmark for AUM in November 2015 and as on August, the AUM has reached Rs 20,877.54 crore....

Mumbai, 18 Sep 2017/--/Unlimit, a business venture of Anil Ambani-led Reliance Group and IBM have announced a strategic collaboration that brings together former's industry specific Internet of Things (IoT) solutions with IBM IoT capabilities to unlock new value for businesses here. Under the...

Mumbai, 18 Sep 2017/--/India Infrastructure Fund (IIF), a fund managed by IDFC Alternatives, has successfully exited its Rs 350 crore investments in renewable power producer Mytrah Energy. IIF had invested Rs 350 crore in the form of compulsory convertible preference shares in Mytrah which enabled...

Mumbai, 18 Sep 2017/--/The World Bank arm International Finance Corporation has agreed to extend USD 50 million to Mahindra Lifespaces to develop industrial parks in Gujarat, Rajasthan and Maharashtra. The real estate and infrastructure development arm of the Mahindra Group said the money will be...

Hyderabad, 18 Sep 2017/--/Mytrah Group, a city-based renewable power producer, today said it has raised Rs 1800 crore from Piramal Group's financial services companies. The funds are being invested in the form of non-convertible debentures with a seven-year tenor into two Mytrah Group entities--...

NEW DELHI, 18 Sep 2017/--/Concerned about slowdown in the economy, Prime Minister Narendra Modi will interact with Finance Minister Arun Jaitley and other top officials tomorrow to take stock of the situation and discuss remedial measures to bolster growth. Modi will threadbare analyse the...

Kolkata, 18 Sep 2017/--/Private sector insurer SBI Life Insurance Company Ltd will be happy to retain its 39 per cent growth momentum achieved last year in generating new business, a top official said today. "We hope to sustain the current growth momentum in new business premium which was around 39...

IPA, 18 Sep 2017/--/The elusive achhe din no longer holds out any promise; or causes disappointment. We have become so used to the facts of life that it no longer bothers us. But suddenly there is reason to feel optimistic about some possible good days ahead when it comes to petrol and fuel prices...

NEW DELHI, 18 Sep 2017/--/Former prime minister Manmohan Singh today again warned of demonetisation and "hasty" implementation of GST adversely impacting GDP growth. Singh, who had previously cautioned against note ban shaving off 2 per cent of GDP, said demonetisation of 86 per cent of the...

NEW DELHI, 18 Sep 2017/--/The Delhi High Court today put on hold the trial court proceedings against Uber India in respect of challaning and impounding of vehicles operating under its banner, by the AAP government for alleged violation of licence conditions. Justice A K Pathak issued the direction...

Mumbai, 18 Sep 2017/--/The rupee surrendered its initial gains against the US dollar and ended lower by 5 paise to 64.13 on fag-end demand for the American currency from banks and importers on the back of higher greenback overseas. The domestic currency resumed higher at 64.05 a dollar as against...

Mumbai, 18 Sep 2017/--/Maharashtra is on track to become a trillion-dollar economy, given the impetus to infrastructure development in the last three years, Chief Minister Devendra Fadnavis said today. The state attracted more than half of the total foreign direct investment (FDI) in the country...

Brussels, 13 Sep 2017/--/The European Union is looking at a bilateral summit with India next month that would act as a catalyst for resumption of talks on the free trade agreement encompassing goods, services and mutual investment protection, according to a senior EU official. Talks on the...

Mumbai, 13 Sep 2017/--/The demonetisation coupled with GST and BSIV norms seem to have made a dent in the domestic pre-owned car market with the segment growing six per cent lesser in the previous fiscal against the projected growth of 15 per cent, as per an industry report. However, at the same...

New York, 13 Sep 2017/--/India has been placed at 103rd rank, the lowest among BRICS economies, on the WEF's Global Human Capital Index, which has been topped by Norway. India also ranks "among the lowest in the world" when it comes to the employment gender gap, but has fared well when it comes to...

Mumbai, 13 Sep 2017/--/Hindalco Industries, an Aditya Birla Group company, plans to prepay another Rs 1,100-crore debt this month to further deleverage its balance sheet. "We have already repaid Rs 7,815 crore and plan to repay another Rs 1,100 crore in the current month, which will save interest...

NEW DELHI, 13 Sep 2017/--/CBI has registered a case against confectionery giant Mondelez, the maker of Cadbury chocolates, to probe allegations of bribing public servants to evade Rs 580 crore in excise duty, a top official said on Wednesday. The probe has been initiated on the recommendation of...

Washington, 13 Sep 2017/--/The US has given a grant to an Indian company to carry out a feasibility study in developing resources of coalbed methane, a clean-burning natural gas, in India. Coalbed methane (CBM) is a form of natural gas extracted from coal beds. In recent years it has become an...

Beijing, 13 Sep 2017/--/China on Wednesday evinced interest in reviving its proposal to build high speed railway projects in India which has chosen Japan as a partner for the country's first such venture. China has been aggressively marketing its high-speed rail technology abroad and in the past...

NEW DELHI, 13 Sep 2017/--/M Nagaraja Sarma has been appointed the chairman-cum-managing director (CMD) of the United India Insurance Company Ltd. Sarma is at present the general manager, Oriental Insurance Company Ltd. He has been appointed the CMD for five years, said the Department of Personnel...

Washington, 13 Sep 2017/--/The US Trade and Development Agency has signed a memorandum of understanding with the Airports Authority of India to support a 20-year master plan aimed at expansion of operational capacities of the Kolkata and Lucknow international airports, an official said on Wednesday...

NEW DELHI, 13 Sep 2017/--/Gold recorded a steep fall of Rs 500 in its prices to close at Rs 30,350 per 10 grams at the bullion market on Wednesday, tracking a weak trend overseas amid tepid demand from local jewellers. However, silver recovered by Rs 200 to Rs 41,850 per kg on scattered enquiries...