Business

Gold falls after French election result revives risk-on sentiment.

Gold fell more than 1% on Monday to its lowest in nearly two weeks after centrist candidate Emmanuel Macron won the first round of French presidential election, boosting stocks and sparking .............

Low-risk strategy can help save up to 48% more: StanChart.

Emerging affluent consumers in India can increase their savings by as much as 48% if they move from basics savings approach to a low-risk wealth management strategy, says a study...............

India aims to cut petroleum imports to boost alternative fuel use.

India is aiming to cut its oil products imports to zero as it turns to alternative fuels such as methanol in its transport sector, a government official said at an investor briefing on Monday.................

Ultratech Cement Q4 net profit down 11.3% to Rs 725.90 cr.

Ultratech Cement today reported a decline of 11.31% in its consolidated net profit to Rs 725.90 crore for the fourth quarter ended March 31, 2017 on account of higher expenses.......

Display foodgrain subsidy at ration shops, Centre tells states.

State governments should display at PDS shops the foodgrain subsidy borne by both the Centre and states that will prevent the latter from hijacking the credit for selling highly-subsidised grains...........

Sensex, Nifty surge 1% as earnings, French vote sooths nerves.

Indian shares surged 1% and the rupee gained against the dollar on modest earnings growth by domestic companies and tracking global markets, which were upbeat after liberal Emmanuel Macron.............

Reliance Jio net loss jumps to Rs 22.5 crore in October-March.

Billionaire Mukesh Ambani-led Reliance Jio on Monday reported widening of its net loss to Rs 22.50 crore in the six months to March, a period when the company virtually had no revenue and ran.........

RCom shareholders approve merger with Aircel.

Reliance Communications’ (RCom) shareholders today approved the merger of its wireless division with Aircel...............

China clamps down on excess steel as Japan decries Trump “protectionism”.

Twenty-nine Chinese steel firms have had their licenses revoked as Beijing kept up its campaign to tackle overcapacity in the sector and days after U.S. President Donald Trump said he would ..........

US accuses TCS, Infosys of unfair practices in H-1B visa lottery draw.

In the clearest signal yet on the target of the US crackdown on alleged abuse of the H-1B temporary visa programme for foreign workers, senior Trump administration officials named Indian tech ..........

Niti Aayog projects growth at an average of 8% in 15 years.

India on Sunday drew a long-term vision plan that envisages faster reforms to help the economy grow at an annual average rate of 8% in the next 15-16 years........

Seeing signs that impact of demonetisation in India has abated, says IMF.

The IMF on Saturday said the impact of demonetisation in India has abated but insisted on quickly replacing the defunct currency in order to restore missing transactions and also .............

Volvo S60 Polestar review: When safety meets performance, this happens.

Polestar is certainly not a name most Indians will have heard before, not even the enthusiasts. It isn’t quite as recognisable a performance divisions of luxury carmakers, like BMW’s M-sport.............

Volkswagen gets 3 years’ probation, $2.8 billion fine in emissions scandal.

A federal judge in Detroit on Friday sentenced Volkswagen AG to three years’ probation and independent oversight for the German automaker’s diesel emissions scandal as part of a $4.3 billion....

Hyundai Prime, DZire Tour, Platinum Etios: Automakers rebrand cars to steer clear of ‘taxi’ tag.

When your dream car comes to your door as a cab, you don’t aspire to buy that model anymore.........

Wipro sacks at least 600 employees after performance appraisal.

The country’s third largest software services firm Wipro is learnt to have fired hundreds of employees as part of its annual “performance appraisal”...........

GST reform an act of courage, says IMF chief Christine Lagarde.

Describing the ongoing Goods and Services Tax (GST) reform as an “act of courage”, IMF chief Christine Lagarde on Thursday said she expects “some positive outcome”................

Asian economies escape “manipulator” tag, but expect more pressure on trade.

Asian countries escaped the currency manipulator label in the latest U.S. Treasury report, but remain wary of possible trade friction as President Donald Trump maintains his administration............

Wal-Mart in advanced talks to buy fashion retailer Bonobos, Recode says.

Wal-Mart Stores Inc is in advanced discussions to buy online men’s fashion retailer Bonobos Inc, Recode reported on Friday,...........

United changes crew booking policy after passenger dragged off plane.

United Airlines on Friday changed its policy on booking its own flight crews onto its planes after a man was dragged off an overbooked flight to make way for a ................

Polestar is a car to drive, not to be driven: Volvo Auto India MD Tom von Bonsdorff.

For decades, the Indian luxury car was the ultimate symbol of decadence -- a cushy backseat..........

Digital India: SBI targets transactions worth Rs 1 lakh crore in 2017-18.

Country’s largest lender SBI on Friday said it aims to reach 5.2 lakh Acceptance Touch Points and collectively do Rs 1 lakh crore transaction in........

Volvo’s first performance car in India, S60 Polestar, launched at Rs 52.5 lakh.

Volvo Auto India launched its performance brand Polestar in India on Friday, with a sports........

Demonetisation: Rs 10K cr undisclosed income detected, plans 60,000 tax notices.

After the demonetisation exercise threw up less than ₹10,000 crore in black money, the Narendra Modi government is set to tighten the noose on tax evaders and ask over 60,000 people to ............

Flying overseas from India becomes cheaper as airfares fall

April 14: Flying on overseas destinations such as London, Singapore, Sydney, Kuala Lumpur from India became cheaper this summer with airfares going down up to 28 per cent amid capacity addition on international routes.

Prez gives assent to GST laws; task cut out for states

April 14: With President Pranab Mukherjee giving his assent to four Goods and Services Tax (GST) enabling bills, the states now have to quicken the passage of their respective legislations.

DIPP releases reform ranking parameters

April 14: The Department of Industrial Policy and Promotion (DIPP) and World Bank (WB) on Thursday released 405 business process reforms, on the basis of which states will be ranked this year.

Infy results impacts market despite share buyback

April 14: Even after Infosys announced plans to return Rs 13,000 crore from its cash pile to shareholders

Venkatesan named Infy co-chairman

April 14: Infosys on Friday announced the elevation of independent director Ravi Venkatesan as co-chairman.

 PM may chair Niti Aayog meet on Apr 23

April 14: Prime Minister Narendra Modi is likely to call a meeting of the Governing Council of Niti Aayog on April 23 to approve a three-year action plan that will take effect from April 1.

Sensex, Nifty fall as Infosys outlook disappoints investors.

Indian shares fell on Thursday, dragged by technology stocks, after Infosys Ltd’s revenue outlook and plan to return cash to shareholders fell short of expectations, raising concerns...........

GST bills get President’s assent, decks clear for new tax regime from July 1.

Decks are clear now for the roll-out of Goods and Services Tax from July 1 with the President Pranab Mukherjee giving his assent to four key legislations...........

Infosys to return up to $2 billion to shareholders; appoints co-chairman.

Infosys Ltd, India’s second-biggest software services exporter, said on Thursday it would return up to $2 billion to shareholders, yielding to pressure for a share buyback from a group...........

Infosys Q4 profit beats estimates on key client wins.

Infosys Ltd, India’s second-biggest software services exporter, reported a slightly higher-than-expected fourth-quarter profit as the company added more clients in the $100 million-plus category............

Have you ever chatted with a robot? You may have done so in the financial world.

Banking, insurance and broking industries have started rolling out chatbots for consumer services and transactions. However, not all chat windows have a chatbot behind them............

No self-certification? Accounts used for overseas transactions to be blocked.

Bank accounts used for transfer of funds to and from other nations will have to provide additional details of transactions and identity by April 30 or get blocked, the income tax department........

Trump’s message to bankers: Wall Street reform rules may be eliminated.

President Donald Trump told a group of chief executives on Tuesday that his administration was revamping the Wall Street reform law known as Dodd-Frank and might eliminate the rules and............

EPFO should provide unemployment insurance, gratuity, House panel says.

A Parliamentary panel has recommended amendments in social security schemes run by retirement fund body EPFO to include unemployment insurance and gratuity benefits..................

Petrol, diesel prices to change every day from May 1, trial run in five cities.

Come May 1, petrol and diesel prices will change every day in sync with international rates, much like it happens in most advanced markets...........

Oil eases from five-week high, U.S. output rise undermines rally.

Crude oil edged back from a five-week high on Tuesday, as rising U.S. shale oil production weighed against a support from tensions in the Middle East...........

Tata Power, Adani Power slump as Supreme Court sets aside tribunal order.

The Supreme Court on Tuesday set aside an order by the Appellate Tribunal For Electricity allowing compensatory tariff to Tata Power Ltd and Adani Power Ltd,..................

Tesla becomes most valuable US car maker, edges out General Motors.

For the first time in the era of the modern automobile, the most valuable US car maker is not based in Detroit.................

Sensex, Nifty in green as markets make a slow start, CPI data in focus.

Stocks held out hope on Tuesday as the flagship Sensex made a tepid recovery ahead of release of key macroeconomic data and start of March quarter earnings season .............

Flipkart to use funds to grow profits, shave off burn.

Flipkart board member and investor, Subrata Mitra, on Tuesday said money raised through the latest round of funding will.......................

PepsiCo, Coca Cola restrained from drawing water from Tamil Nadu river.

Softdrinks majors PepsiCo and Coca Cola were on Monday restrained by officials from drawing water from Tamirabharani River in the district till April 30 for their bottling plants.................

Indian, Bangladeshi companies sign pacts worth more than $9 billion.

Companies from India and Bangladesh signed on Monday pacts worth over $9 billion aimed at deepening partnership in various.............

Ajit Kumar Srivastava, Shabri Bhattasali named new CBDT members.

Senior bureaucrats Ajit Kumar Srivastava and Shabri Bhattasali were today appointed members of Central Board of Direct Taxes (CBDT), the apex policy making body of the Income Tax department................

NTPC, Adani, RPower, Petronet sign pacts for projects in Bangladesh.

Indian energy firms including NTPC, Adani Power, Reliance Power and Petronet LNG, on Monday signed pacts for multi-billion dollar projects in Bangladesh as the two neighbours...............

Global politics hit emerging stocks, currencies.

Tensions around the Middle East and the Korean peninsula weighed on emerging markets on Monday, with stocks extending losses for a third day and ..........

Capgemini to buy acquire North American operations of Ciber Inc for $50 mln.

Information technology company Ciber Inc said on Monday that it and some of its U.S. units...........

What’s streaming? Netflix, Amazon tune into India with ₹2,000-cr war chests each.

US-based video streaming platforms and arch rivals Netflix and Amazon have extended their battle to the Indian market, where they have set aside Rs 2,000 crore each for acquiring content to attract.........

DRDO ropes in Patanjali to market herbal products.

The Defence Research and Development Organisation (DRDO) and Patanjali Ayurved Limited promoted by yoga guru Ramdev, have decided to sign a memorandum of understanding (MoU) to market array ...........

Settling EPF claims through mobile phone to be a reality soon.

Nearly four crore members of retirement fund body EPFO will soon be able to settle their claims like EPF withdrawal through mobile application UMANG.......

DoT survey shows call drops problem persists

April 7: Despite the claim by telecom operators that call drops have come down drastically, a survey conducted by the Department of Telecom (DoT) shows that a large number of mobile users are still facing the problems.

Paytm to expand team by 2,000

April 7: India’s leading mobile payment company Paytm is on a head count expansion spree to bring on board 2,000 executives in South India for its merchant acquisition game plan.

Devatha Fabrics to enter women’s ethnic wear before Dec 2017

April 7: Devatha Fabrics, a city-based company with a century-old heritage in dealing with silk, is targeting to reach Rs 100 crore in the next five years from its current revenue of Rs 15 crore.

RBI retains repo rate at 6.25%

April 7: The wait for home loan borrowers for lower interest rates just got longer with the Reserve Bank of India deciding to keep the lending rate unchanged at 6.25%.

Government to increase R&D spend to 2% of GDP

April 7: The Centre has decided to increase research and development funding from the current 1% of GDP to 2% from this year onwards, said Department of Science and Technology (DST) Secretary Ashutosh Sharma.

B’luru-based brands show strength: report

April 7: According to ‘The Brand Trust Report 2017’, Bengaluru-based brands have made a strong showing with city-based brands leading six of the 40 Super categories.

PoS devices tally to touch 76 L by 2022

April 7: With India steadily migrating towards digital format and non-cash transactions, the number of Point of Sale (PoS) devices installed in the country

RBI guv takes dig at UP loan waiver

April 7: RBI Governor Urjit Patel came down heavily on the Uttar Pradesh government’s decision to waive crop loans up to Rs 1 lakh, a move which is likely to cost the state over Rs 36,000 crore.

Sensex tanks 164 pts on Asian cues; RIL plunges 1.75%

April 17: The benchmark BSE Sensex lost over 164 points to 29,763.02 in early trade today as RIL led the fall on increased selling by participants amid weak trend in other Asian markets.

Tax evasion of more than Rs 1.37 lk cr detected in last 3 yrs

March 7: The Revenue Department today said it has detected evasion of more than Rs 1.37 lakh crore in both direct and indirect taxes and identified over 1,000 shell companies

India jumps 12 spots in WEF’s global travel & tourism ranking.

India has jumped 12 places to 40th rank globally in travel and tourism competitiveness list by World Economic Forum.........

Twitter Southeast Asia and India MD brushes turmoil, launches Twitter Lite in India first.

After the turbulence of 2016, Twitter is expecting a smoother year ahead, with the micro-blogging firm expecting big gains in India, one of its fastest growing markets..............

RBI keeps repo rate unchanged at 6.25%, raises reverse repo rate to 6%.

Indians will have to wait for consumer and home loans to become cheaper as the Reserve Bank of India kept policy lending rates unchanged on Thursday ........

RBI sees inflation firming up to 5% on GST

Consumers can expect prices of goods and services to firm up after Goods and Services Tax is rolled out.........

Government electrifies over 13,000 villages out of 18,452.

The government has managed to cross another milestone by electrifying over 13,000 villages so far out of the 18,452 unelectrified ones............

Coal India actively looking to invest in coal assets in Australia

Coal India Ltd is actively looking to acquire coking coal assets in Australia, a senior company official told Reuters, as the country looks to beef up its foreign coal assets.......................

Volkswagen launches new Vento Highline Plus variant in India at Rs 10.84 lakh.

Volkswagen India launched a new variant of its mid-size sedan -- the Vento Highline Plus -- at Rs 10.84 lakh (ex-showroom Mumbai). The model will be available in both manual as well as...........

Centre’s tax collections up 18% at Rs 17.1 lakh crore, tops target for 2016-17.

The Centre’s tax collections grew 18% during the financial year 2016-17 to Rs 17.10 lakh crore, following robust mop up from excise and income tax, the finance ministry said on Tuesday............

Ducati Multistrada 1200 Enduro review: A large ride for the wanderer.

Sometimes, just on that rare occasion, there is beauty in monstrosity. And it is the sort that is so in your face. Enter the Multistrada 1200 Enduro. Its sheer size is jaw-dropping. It’s an intimidating..........

ATMs still running dry; withdrawals drop due to shortage of Rs 500, Rs100 notes.

Nearly three weeks after the Reserve Bank of India (RBI) lifted cash-withdrawal limits imposed in the wake of demonetisation, ATMs continue to run dry in several locations............

Tesla overtakes giant Ford in market cap, sells 25,000 e-cars from Jan to March.

Tesla on Monday became the second-largest US car maker in terms of market capitalisation, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing...............

Gave approval to Aircel-Maxis deal in normal course of biz: Chidambaram.

Former Finance Minister P Chidambaram today said he had granted approval to the Aircel-Maxis deal “in the normal course of business.”

RBI to keep interest rates unchanged, with inflation under control.

The Reserve Bank of India (RBI) will keep interest rates unchanged at its meeting on Thursday and as inflation is below target while borrowing costs are more likely to fall than rise...............

Asian Paints arm acquires Sri Lankan firm Causeway Paints.

Asian Paints today said its subsidiary Berger International has fully acquired Sri Lanka’s Causeway Paints in an all cash deal of Rs 387 crore........

Spark Minda inaugurates new plant in Mexico.

Auto component maker Spark Minda, Ashok Minda group today announced operations of its new plant in Mexico that will supply parts to Volkswagen group..........

Cracks resurface at Infosys, Narayana Murthy says COO’s salary hike ‘not proper’.

Infosys Ltd’s promoters continue to be unhappy with some decisions made by the board of India’s second-largest software services company. A majority of the promoters did not vote for a resolution .......

BS III ban to cost automakers nearly Rs 3,000 cr.

The ban on BS III vehicles imposed by the Supreme Court on Wednesday will cost automakers nearly Rs 3,000 crore, according to market research firm Crisil.........

Oracle denies talks to acquire Accenture.

California-headquartered global IT major Oracle has denied reports of holding discussions to acquire IT and consultancy giant Accenture............

’RERA could delay project launches’

April 3: Real estate developer Puravankara believes that post RERA (Real Estate Development and Regulation Act, 2016), there will be some delay in project launches depending on the readiness of authorities across states.

Coverfox.com to hire people, introduce more products

April 3: Online insurance booking portal Coverfox.com has plans to increase its employee strength from the present 300 plus to 500 by the end of 2018.

HAL sales soar to Rs 17,406 cr in FY 2017

April 3: State-run aerospace behemoth Hindustan Aeronautics (HAL) on Saturday posted highest ever sales of Rs 17,406 crore for the fiscal 2017, registering 4% annual growth from Rs 16,736 crore in the previous fiscal.

SBI takes seamless measures for smooth merger of associate banks

April 3: State Bank of India (SBI) is taking all measures to ensure that customers of five of its associate banks which are being merged with the parent organisation will face minimum hassles due to the merger process.

Unmet investment need amounts to Rs 43 lakh cr: FM

April 3: India has a huge unmet need for investment in infrastructure, estimated to the tune of Rs 43 lakh crore (about $646 billion) over the next five years, Finance Minister Arun Jaitley on Saturday said.

Education, healthcare to be out of GST

April 3: Education, healthcare and pilgrimages will continue to be out of service tax net even under the GSTregime as the Centre is against giving any shock in the first year of the rollout by bringing in new services.

GST will be implemented from July 1: Meghwal 

April 3: Union Minister of State for Finance Arjum Ram Meghwal today expressed confidence that the historic tax reform Goods and Services Tax (GST) will roll out from July 1.

Infy shareholders approve new AoA, pay hike of COO Pravin Rao

April 3: Infosys today said its shareholders have approved the proposal to adopt a new Articles of Association (AoA), bringing in provisions for buyback of shares and appointment of independent directors.

Narayana Murthy slams Infy COO pay rise, blames poor governance

April 3: Infosys co-founder N R Narayana Murthy has accused the company of poor governance standards and expressed unhappiness over the compensation hike to Chief Operating Officer (COO) U B Pravin Rao.

Want lower cost to income ratio for merged entity: SBI

April 3: With the merger of associate banks now formal, State Bank of India (SBI) is now aiming to bring down the cost to income ratio of the merged entity.

Toyota places greater focus on hybrid future in India

April 1: Toyota Kirloskar Motor (TKM) has embarked on a robust hybridisation route in India, with plans to integrate newer segments of cars with hybrid technology and introduce them in the market.

Eight core sector growth slows down to 1% in Feb

April 1: The growth of eight core sectors slipped to over one-year low of 1% in February mainly due to decline in output of crude oil, natural gas, refinery products, fertilisers and cement.

India to grow at 7.7 pc in 2018; EMs face newer challenges: Jaitley

April 1: Emerging markets face newer challenges in the form of inward looking policies of protectionism and increased geopolitical tension, Finance Minister Arun Jaitley said today as he pegged India’s GDP growth at 7.7 per cent in 2018.

Trump set for action on trade gaps with China,India and others.

President Donald Trump is set to sign executive orders instructing his administration to examine the cause of trade imbalances with over 15 countries, including China and India............

Snapdeal’s boardroom battle among investors hits its funding.

A rift between investors on the board of directors of online marketplace Snapdeal has led to the company missing out on at least two desperately needed funding offers.............

VW reaches $ 157 million diesel settlement with 10 US states.

German automaker Volkswagen AG said today it reached a settlement with 10 US states on environmental and consumer claims stemming from its emissions cheating scandal...........

India, Korea to cooperate on startups, tech transfer.

India and South Korea today agreed to deepen cooperation among their small and medium enterprises through technology transfer, joint ventures, business alliances...........

Nifty ends at record high, Sensex rises 116 pts on GST push

March 31: Benchmark Nifty closed at an all-time high of 9,173.75 while the Sensex rose for the third straight session today on optimism surrounding the GST amid expiry of derivatives contracts.

Discounts galore as two-wheeler firms offload BS-III models

March 31: Two-wheeler majors Hero MotoCorp, HMSI, Bajaj Auto and Suzuki Motorcycle are offering discounts of up to Rs 22,000 on BS-III models to liquidate stocks

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