Business

RBI sets rupee reference rate at 67.44 against dollar

Mumbai: The Reserve Bank of India (RBI) on Wednesday fixed the reference rate of the rupee(₹) at 67.44 against the US dollar($) and 75.20 for the euro(Є). These rates were....

India signs US $100 mn loan agreement with World Bank

Bengaluru: An agreement for an IBRD loan of US $100 million was signed between the Government of India and the World Bank on Tuesday. This loan is meant for the Karnataka....

Industry body asks to remove anti-dumping duty on flexible slabstock polyol

New Delhi: Assocham on Monday urged the government to remove anti-dumping duty on flexible slabstock polyol because domestic production is not enough to cater to local demand. Flexible slabstock polyol,....

Bayer’s $62 billion hard cash offer to buy Monsanto

Leverkusen: German drugs and chemicals group Bayer AG on Monday said it had made an unsolicited $62 billion all-cash offer to buy US seeds company Monsanto Co. In a statement,....

India’s forex reserves down marginally by $970 million

Chennai: India's foreign exchange reserves went down marginally by $970 million to $361 billion as on May 13, the Reserve Bank of India (RBI) said. According to RBI's foreign exchange....

Gold prices drop on weak global cues, silver slumps below 40K

New Delhi: Tracking a the weak trends globally, the gold prices declined by Rs 50 to Rs 29,750 per 10 grams at the bullion market on Friday.   Silver prices....

Lupin shares surge over 8% in stock market despite positive Q4

Mumbai: Shares of Lupin Limited, India’s third-largest pharmaceutical firm, dipped almost 8% to Rs 1,525 in morning trade on the Bombay Stock Exchange (BSE) on Friday despite analysts describing the....

Nokia to be revived by a new Finnish firm?

Helsinki: A new company called HMD has been allowed to produce mobile phones and tablets in the name of Nokia. The media called it a resurgence of Nokia brand.  ....

Tim Cook set for India visit to expand Apple Inc’s wings

Hyderabad: A senior Telangana government official on Tuesday confirmed that world's leader in technology and innovation, Apple Inc, is all set to open its development centre in Hyderabad on May....

TATA to enter e-commerce platform with its ‘Tata CLiQ’

  Mumbai:  Tata Industries incubated business venture Tata Unistore, on Tuesday announced the launch of its e-commerce platform, ‘Tata CLiQ’.   “Clique and Click came together to form the perfect....

Big setback for Vijay Mallya, $40 million Diageo fund out of reach

New Delhi: In a big setback for Vijay Mallya, he will not be able to have any access to the $40 million amount that was supposed to be paid to....

Jugnoo launches ‘Fatafat’ in Chandigarh

New Delhi: Leading on-demand auto-rickshaw aggregator Jugnoo forays into hyper-local grocery delivery in Chandigarh with the launch of 'Fatafat' that will facilitate the residents of Chandigarh to order quality fresh....

SpiceJet 11th anniversary sale: Book domestic flight at Rs 511, international at Rs 2,111

Delhi: SpiceJet airlines on Tuesday announced 'The Anniversary Sale' to commemorate its 11th anniversary.   SpiceJet is offering one way base fares starting as low as Rs 511 for domestic....

Centre’s support helps WPI take an upward troll: ASSOCHAM

New Delhi: Industry body ASSOCHAM listed the upward movement in wholesale price index (WPI) to be a clear reflection of the commitment shown by the Centre to support industry together....

Indian manufacturing growth may slow down in first quarter of 2016-17

New Delhi: India's manufacturing sector growth may slow down during the first quarter of 2016-17 ending June owing to factors like bleak export outlook, poor demand and high cost of....

African country Gabon seeks to attract Indian investors

New Delhi: Located in the politically troubled central African region, Gabon has been an oasis of peace and stability that is now seeking to attract Indian investment and step up....

Bank’s gross NPA may rise to 6.9% by March 2017

New Delhi: Banks' gross non-performing assets (GNPAs) could rise to 6.9% by March 2017, the deadline given by Reserve Bank of India (RBI) Governor Raghram Rajan for banks' balance sheet....

United Nations lifts sanction imposed on Mumbai company’s oil tanker

Mumbai: The United Nations has lifted sanctions imposed on an oil tanker owned by a city-based company which had breached them during a business operation in Libya last month, it....

Nestle India’s net profit drops 19% in first quarter

Mumbai: Nestle India on Thursday said its net profit for the first quarter of 2016 dropped by 19%, at Rs 259 crore compared to Rs 320 crore posted during the....

Apple invests $1bn in Chinese Uber rival cab service Didi Chuxing

Beijing: US tech giant Apple on Friday announced that it will invest $1 billion in Chinese ride-hailing platform, Didi Chuxing. "We decided to make the investment for a number of....

Glenmark net profit jumps 13 times to Rs 143.04 crore in Q4

Mumbai: Pharmaceuticals major Glenmark on Thursday announced that its net profit jumped 13 times to Rs 143.04 crore for the quarter ended March as compared to Rs 10.61 crore in....

Airbus SAS signs pact with, Aequs Aerospace to source its engine parts

Bengaluru: Global aerospace major Airbus SAS on Thursday signed an agreement with Karnataka-based Aequs Aerospace to source 100,000 titanium machined parts for its A320 new engine programme. "The parts will....

India’s factory output growth flat as retail inflation for April rose to 5.39%

New Delhi: India's factory output growth turned flat in March after rising during the month before, even as the annual retail inflation for April rose to 5.39% from 4.83% in....

Bank union calls for nationwide strike to oppose privatization

New Delhi: Bank employees across the country will go on a one day strike, on July 29. The proposed strike is to oppose privatisation of public sector banks and banking....

Hey bud, Cheers America!

New York: Rebranding has been taken to the next level this summer season with the popular beer brand Budweiser renaming itself as ‘America’.   The change, announced this summer-election season,....

Taxation of Investors in Mauritius to begin from 2017

Mauritius: The protocol for amendment of two-decade-old Double Taxation Avoidance Agreement (DTAA) between India and Mauritius was signed on Tuesday.  The protocol enables India to get taxation rights on capital....

Steel exports fall 27% to 0.308 mt in April

Kolkata: Steel exports fell 27% in April this year to 0.308 million tonnes (mt) while finished steel production in the country grew 3.2% to 7.48 million tonnes in the first....

Titan Company shares fall 14.4% on weak Q4

New Delhi: The company had a net profit at Rs 215.09 crore for the same quarter in the previous year. Its revenues declined by 1.5% to Rs 2,437 crore for....

India ranks ninth among crony capitalist nations: Economist

London: A spurt in number of billionaires and increasing wealth creation by any means have made India rank ninth among the crony capitalist countries, said a study in "The Economist"....

China’s exports rises 4.1%, imports drop 5.7% in April

Beijing: China's exports rose 4.1 percent year on year in April while imports dipped 5.7%, customs data showed on Sunday. It led to a monthly trade surplus of 298 billion....