To mark its 12th anniversary, IndiGo on Tuesday announced its biggest sale ever with fares as low as Rs 1,212. In a four-day special sale, from July 10 to 13, the airline company will offer 12 lakh seats at a discount of up to 25% for travel between July 25 and March[Read More…]
Sales of housing units across nine major cities in the country grew by 15% during the April-June period compared to the previous January-March quarter, a report said on Monday. The total absorption of housing units increased by 15% across top nine cities in India in the second quarter of 2018[Read More…]
The National Company Law Tribunal (NCLT) on Monday dismissed a petition filed by Cyrus Mistry challenging his dismissal as chairman of Tata Sons. “We have not found any merit in the petition,” the law tribunal said. “The management is more accountable to shareholders,” it said while ruling in favour of[Read More…]
New Delhi: Attacking Prime Minister Narendra Modi over the drop in the value of rupee, Congress on Friday said there seems to be a competition between the BJP and the rupee to see who will fall lower. Congress spokesperson Manish Tewari likened the country’s economy is like a rudderless boat[Read More…]
Speaking at the 41st Reliance annual general meeting, Chairman Mukesh Ambani officially launched the new fibre broadband system ‘Jio GigaFiber’ across 1,100 cities on Thursday, stepping up its push on internet services. This much awaited, fibre-to-the-home (FTTH) broadband services, which will be available for both residential and commercial locations, will[Read More…]
The 41st annual general meeting of Mukesh Ambani-led Reliance Industries Ltd (RIL) is being held today, where the chairman spells out the direction the energy-to-telecom conglomerate will take in 2018-19. Speaking at the 41st annual general meeting, Ambani mentioned of the 25 million Jio phone users in India. He unveiled[Read More…]
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday July 4, approved a proposal for expanding the scope of Higher Education Financing Agency (HEFA) by expanding its capital base to Rs 10,000 crore. The CCEA also tasked the HEFA to mobilise Rs 1,00,000 crore for revitalising infrastructure and Systems in[Read More…]
After opening on a flat note, the key Indian equity indices were trading in green on Wednesday afternoon, July 4, in Mumbai. The 30-scrip Sensitive Index (Sensex) was trading 115.31 points or 0.33 per cent higher during the afternoon session. The wider 50-scrip Nifty of the National Stock Exchange (NSE)[Read More…]
New Delhi: NITI Aayog Vice Chairman Rajiv Kumar on Tuesday said people have paid a very high cost for democracy in the last 70 years and it is now time to reap the dividends. He insisted that NITI Aayog, as a principal change agent, can help garner those dues. We[Read More…]
New Delhi: Foreign direct investment (FDI) in India seems to be petering out with the inflows growth rate recording a five-year low of 3 per cent at USD 44.85 billion in 2017-18. According to the latest data of the Department of Industrial Policy and Promotion (DIPP), FDI in 2017-18 grew[Read More…]
New Delhi: The Congress on Sunday attacked the Modi government on the first anniversary of the Goods and Services Tax (GST), saying it has become a bad word among business persons. The design, structure, infrastructure backbone, rate or rates and implementation of GST were so flawed that GST has become[Read More…]
Mumbai: Lending major State Bank of India (SBI) on Saturday said that the central government has permitted its Managing Director B.Sriram to take voluntary retirement. The development assumes significance as Sriram was recently appointed the chief of financially troubled IDBI Bank. According to a BSE filing, SBI said that the[Read More…]
Mumbai: State-run Punjab National Bank (PNB) on Friday said that it has sold its entire stake in credit ratings agency ICRA for Rs 108.60 core. According to a BSE filing, the bank sold its entire stake of 330,000 shares of ICRA through Block deal on Thursday. The stake sales comes[Read More…]
New Delhi: GST Council Member and Bihar Deputy Chief Minister Sushil Modi on Friday outright ruled out bringing petroleum products under the ambit of Goods and Services Tax (GST) in near future, citing loss of revenue both to central and state governments. He added there was no consensus in the[Read More…]
New Delhi: Only 21 per cent of the over 32,000 people in 215 districts of India said that their monthly household grocery bills had reduced after the GST implementation while 63 per cent disagreed on this count, a survey released on Friday said. The poll was conducted by LocalCircles, a[Read More…]
New Delhi: Touted as the biggest economic reform since Independence, the Goods and Services Tax (GST) was supposed to replace the complex indirect tax system prevalent in the country with a more simplified, uniform regime. As its roll-out completes one year on June 30, it can be argued that while[Read More…]
New Delhi: Petroleum is the taxation milch cow for the central and the state governments and it is unlikely to be brought under the Goods and Services Tax (GST) any time soon. That’s also the view of the Vice Chairman of Niti Aayog, Rajiv Kumar. Several senior ministers have demanded[Read More…]
Chennai: The Parliamentary Standing Committee on Finance will be awarded the Sansad Ratna Award 2018 for its outstanding performance, a top official said on Monday. We have decided to honour Departmentally Related Standing Committees with Sansad Ratna Award based on the criteria like the reports presented, numbers of sittings and[Read More…]
Mumbai: High crude oil prices along with a persistent outflow of foreign funds from the country’s equity and debt markets and formation of a non-BJP government in Karnataka weakened the Indian rupee to 68.43 per US dollar. Consequently, the Indian rupee weakened by 38 paise against the US dollar to[Read More…]
New Delhi: With transport fuel prices in Delhi touching an all-time high, industry chambers, Ficci and Assocham, on Monday called for the government to urgently reduce fuel excise duties. It also urged the government to bring automobile fuels under the purview of Goods and Services Tax (GST). The price of[Read More…]
Mumbai: Uncertainty over government-formation in Karnataka, along with weak global cues, suppressed the key Indian equity indices on Wednesday afternoon. No party achieved a clear majority in the election results announced on Tuesday, leading to uncertainty over the formation of the next government. According to market analysts, heavy selling pressure[Read More…]
Bhubaneswar: The Odisha government on Sunday signed a MoU with Tata Trusts, Mumbai to set up a state-of-the-art Cancer Treatment and Research Hospital in Bhubaneswar. The MoU was signed in the presence of Chief Minister Naveen Patnaik and Tata Trusts Chairman Ratan N. Tata. As part of the MoU, Tata[Read More…]
San Francisco: Showing his concern about the threat to the insurance industry, CEO of multinational conglomerate Berkshire Hathaway Warren Buffett has said that cybersecurity risks will get worse in the years to come. “Cyber is uncharted territory. It’s going to get worse, not better,” CNBC quoted Buffett as saying at[Read More…]
Mumbai: Business tycoon and Reliance Industries Chairman Mukesh Ambani and Nita Ambani’s daughter Isha will tie the knot with Anand Piramal, son of corporate magnates Ajay Piramal and Swati Piramal, in December this year, family sources said on Sunday. Anand and Isha have been long-time friends and both the families[Read More…]
New York: US billionaire investor Warren Buffett said on Saturday that the world depends on the US and China for progress, dismissing concerns that the two countries’ trade tensions could potentially escalate into a trade war. Buffett, chairman and CEO of Berkshire Hathaway, made the remarks in response to a Chinese[Read More…]