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Business

  • Demonetisation woes: Daily wagers with no jobs turn to langar halls for food

    With everyone from local vendors and foreign tourists to devotees and the poor queuing up for food, the rush for langar at the popular gurdwara brings no surprise. But, post the demonetisation move, the lunch rush at the langar halls has been more hectic than usual. Actually, the typical lunch[Read More…]

  • Hyderabad: Six arrested for producing fake notes of ₹ 2,000

    Just weeks after Reserve Bank of India released new notes of ₹ 2,000; six people were detained by Rachakonda police for allegedly producing the fake high denomination note at Ibrahimpatnam on city suburbs. Apart for the notes of ₹ 2,000, police also seized fake notes of Rs 100, Rs 50,[Read More…]

  • Demonetisation: Army seeks relaxation on cash deposit deadlines for soldiers

    Prime Minister Narendra Modi’s demonetisation move has affected people from all walks of life, including the Indian soldiers as they are deployed in remote areas and finding it difficult to exchange or deposit the scrapped notes. Consequently, the Indian Army is planning to request the government to allow more time[Read More…]

  • L&T lays off 14,000 employees in its ‘strategic decision’

    Larsen & Toubro (L&T) laid off 14,000 employees across businesses during April-September this year. The company called it a “strategic decision.” “It was a strategic decision that if a business is not in good shape, we are trying to resize it. If there is time to get the business back[Read More…]

  • Hero launches e-cycles under the brand Lectro

    Hero Cycles introduced four e-cycles with electric pedal assisted technology (EPAC) under the brand name Lectro on Thursday. The company launched the brand earlier this year in Birmingham. And now, it is planning to expand EPAC portfolio in India to more than 20 products over the next few months. “EPAC[Read More…]

  • Demonetisation: Airports on high alert to check cash smuggling

    Around 59 airports have been alerted by the Central Industrial Security Force (CISF) after a businessman was caught carrying ₹ 3.5 crore in cash and detained at the Dimapur airport in Nagaland. After reports surfaced that many people are using the tax exemptions to tribals in the Northeast to transfer[Read More…]

  • Reliance Capital sells radio and TV businesses to Zee Group

    Anil Ambani-led Reliance Capital Ltd has decided to sell a 49% stake in its radio business and its entire TV business to Zee Group entities on Wednesday. Reliance Broadcast Network Ltd (RBNL) – part of the Anil Ambani group, has entered into a definitive and binding agreements with Zee Media[Read More…]

  • Paytm reaches seven million daily transactions

    With people being reluctant to shell out the cash they stood hours in line for, digital payments company Paytm said on Monday it witnessed over seven million transactions worth Rs 120 crore on Saturday. Paytm has crossed $5 billion GMV sales, four months ahead of its target, reports PTI. Gross[Read More…]

  • Ratan Tata largely to blame for mess, says The Economist

    The Cyrus Mistry and Ratan Tata war broke out almost a month back and the bitterness for each other has only increased with each passing day as both the camps indulge in allegations and counter allegations. According to this article in The Economist, Ratan Tata needs to get his act[Read More…]

  • Rajat Gupta, former Goldman Sachs director, now the chairman of a non-profit

    Former Goldman Sachs director Rajat Gupta has assumed the role of a US-based non-profit organisations’ chairman. Gupta had spent the last two years in jail on charges of insider trading. Gupta has taken over as chairman of WHEELS Global Foundation (WGF). Launched in 2013 by IIT alumni, WGF is a[Read More…]

  • Won’t write off Rs. 7000 cr loans, will go after defaulters: SBI chief

    SBI chairman, Arundharti Bhattacharya, on Wednesday said there has been no write offs and no let off of wilful defaulters will happen. “It is only accounting entry. That does not change anything. To impute otherwise is to unnecessarily malign the banks,” Further, Bhattacharya explained this in the following points: First,[Read More…]

  • Rajat Gupta in India, parties with India Inc

    Former global managing director of McKinsey and Co and Goldman Sachs board member Rajat Gupta returned to India last week after completing his two-year prison term in the US. Jailed in June 2014 in Devens, Massachusetts, Gupta was freed after receiving credit for good behavior against his 30-month sentence, according[Read More…]

  • Luxury shopping severely hit by demonetisation decision

    Prime Minister Narender Modi’s decision to scrap old currency ₹500 and ₹1,000 notes had an immediate impact on luxury shopping. A senior official associated with DLF Emporio told The Luxe Cafe that footfall in the mall has taken an 80 per cent hit from the usual working day crowd in[Read More…]

  • Demonetisation will reap structural benefits in the longer run: Reports

    The government’s sudden move to demonetise ₹500 and ₹1,000 currency notes will have a transitory impact on GDP growth. According to research by ratings agency CRISIL, the new decision will spell significant strutural benefits over the long term. In the longer run, this move will improve the government’s fiscal position[Read More…]

  • Ardent Hillary supporter Buffet should thank Trump for making him the second richest

    During the US election 2016, Warren Buffet was one of the biggest Hillary supporters. Ironically, Trump’s unexpected victory once again made Warren Buffet the second-richest man on the planet. Buffet added $US5.8 billion to his fortune this week, leading gain for the world’s wealthiest as he leaped over Spain’s Amanio[Read More…]

  • PM Modi’s decision is a historic and welcome step

    The latest step taken by the PM is a historic move in the India’s history. I believe it marks a new beginning for India’s economy. It’s like BC(Before Currency) and AD( After Demonetization) for me. While in longer run, it is a great move for all around growth of country,[Read More…]

  • Didn’t expect such deviousness from Mistry: Tata Sons

    Refuting all of Cyrus Mistry’s accusations, Tata Sons today said that they did not expected such devious moves by him. In a statement on Thursday, Tata Sons , accused Cyrus Mistry for the poor performance of the Tata group entities, declining dividends and misusing public relations to manipulate the media.[Read More…]

  • What Donald Trump’s victory could mean for India

    Donald Trump’s dumbfounding victory over Hillary Clinton in the US elections has sent shockwaves across the world. Many countries are now re-evaluating their stand with the US and what the shock result means to them. India too is now gearing up with plans and probabilities of Trump’s move to the[Read More…]

  • NITI Aayog to chair consultations on strategic disinvestment tomorrow: Sources

    NITI Aayog vice chairman Arvind Panagariya, along with administrative ministries, will decide the fate of seven Central Public Sector Enterprises (CPSEs) on strategic disinvestment on Thursday, sources said. Central Public Sector Enterprises (CPSEs) are those companies in which the direct holding of the Central Government or other CPSEs is 51%[Read More…]

  • Donald Trump’s presidency shatter world markets

    The unexpected victory of Republican nominee Donald Trump resulted a sharp decline in the international stock markets. American stock market index S&P 500 futures slipped as much as 5% following news that Trump pulled ahead of Hillary. Japan’s Nikkei stock index was down about 5%,crude oil slumped more than 3%[Read More…]

  • Customers wanted luxury not Nano: Maruti Suzuki India chairman

    “I think the Nano failed to meet the aspirations of customers in totality, not just one or two factors,” said Maruti Suzuki India chairman R C Bhargava on Thursday in New Delhi. Bhargava further went on to say that a two-wheeler owner, when looking to upgrade to a car, wants[Read More…]

  • First Edu-Start up conference 2016 to be held in Pune for educators

    In order to change the entire parameter of gauging students and to work according to their calibre Evergreen Education Foundation is conducting a one day national level conference in partnership with Newsd with a view to revamp the Indian education system on Sunday 20th November at the Hilton Conrad, in Pune.[Read More…]

  • India lost at least ₹17 trillion to tax havens in 44 years: Reports

    Goods and services worth at least ₹17 trilion were exported by Indians over the past four decades but did not remit an equivalent amount in foreign exchange, an HT analysis of classified central bank data shows. This is probably the first measure of how much the economy bled from tax[Read More…]

  • Cyrus Mistry’s removal was necessary for the group’s success: Ratan Tata

    Ratan Tata on Tuesday said that Cyrus Mistry’s removal was “absolutely necessary” for the future success of the Tata Group. In a letter written to employees Tata said, “The decision to change the leadership of Tata Sons was a well-considered and serious one for its board members. This difficult decision,[Read More…]

  • Andhra Pradesh, Telangana top ease of doing business list

    In a list prepared by the World Bank with the Department of Industrial Policy and Promotion (DIPP) on the ease of doing business, Andhra Pradesh and Telangana jointly topped the rankings for 2015-16. Last year’s topper, Gujarat, slipped to third position. Commerce and Industry Minister Nirmala Sitharaman released the report[Read More…]

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