Business

Oil prices rally on upbeat nonfarm payrolls data

New York: Oil prices pared part of early gains to end mildly higher on Friday, as the country's nonfarm payrolls data came out much stronger than expected. The West Texas....

Jaiprakash Associates cement unit sale to benefit ICICI Bank

Chennai: US-based investment banking firm Jefferies said the decision of Jaiprakash Associates to sell off its cement plants to Ultratech will be beneficial to ICICI Bank. In a report, Jefferies....

NS Vishwanathan takes charge as RBI Deputy Governor

Mumbai: Reserve Bank of India (RBI) announced on Monday that NS Vishwanathan assumed office as a Deputy Governor, replacing HR Khan, who retired on turning 62.   "NS Vishwanathan took over....

Brexit aftermath: Asset managers retreat from London

London: Asset managers have started their detachment from London following Britain’s historic vote to leave the European Union (EU), with fund companies finalising plans to reduce their reliance on the....

Myntra’s ‘End of Reason Sale’ sale turns out to be a reason of joy for all

Bengaluru: Myntra's fourth edition of End of Reason Sale (EORS) turned out to be a reason of joy for all. The e-commerce platform logged over two million item orders by....

$10 billion lawsuit filed against Apple by Florida man for ‘copying’ his designs

New York: A Florida-based businessman has filed a $10 billion lawsuit against Apple alleging that the tech giant stole his designs from a utility patent he filed in 1992 to....

Mahanagar Gas makes impressive debut, shares jump over 30%

New Delhi: Shares of natural gas distribution company Mahanagar Gas Ltd (MGL) made an impressive debut on stock markets on Friday. They jumped over 30% to hit an intraday high....

Uttam Galva Steels likely to be sold for settling debt

New Delhi: Debt ridden Uttam Galva Steels, co-promoted by the Miglani family, is likely to be sold to settle its debt. The company’s shares rose 12.41% on Thursday following the....

GoAir launches monsoon offer, air tickets starting at Rs 849

New Delhi: GoAir, one of India's leading airlines, has introduced ‘GoAir Monsoon & More’ offer under which the air tickets can be availed at prices as low as Rs 849.....

Equity markets open higher on positive global cues

Mumbai: Key Indian equity market indices opened higher on Thursday in line with global peers and taking positive cues from implementation of the Seventh Pay Commission. The sensitive index (Sensex)....

Vishwanathan to be the next deputy RBI governor

New Delhi: With HR Khan set to retire from the post of Deputy Governor - Reserve Bank of India (RBI), on July 7 after attaining 62 years of age, he....

Tatas, Starbucks to extend partnership beyond India

Stattle: Tatas and Starbucks on Monday announced a host of new initiatives, including the inclusion of single-origin coffee from India in its outlets abroad, bring the brand to Vistara airlines....

Oil prices extend loses as market remains volatile on Brexit

New York: Oil prices extended losses as the market remained volatile after Britain voted to leave the European Union in a historic referendum. The West Texas Intermediate for August delivery....

RBI reform push: Government set to establish new committee for formulating monetary policy

New Delhi: In a huge reform push, the government is set to constitute a monetary policy committee under the Reserve Bank of India act 1934.     The committee will....

Bajaj Finserv likely to buy out Allianz’s stake in joint venture insurance

New Delhi: Bajaj Finserv Ltd, an arm of Bajaj Holdings and Investments, may buy out its German partner Allianz SE’s stakes in two insurance units, namely Bajaj Allianz Life Insurance....

Expanded Panama Canal to bring $2 bn annual revenue

Panama City: The expanded Panama Canal is expected to bring in over $2 billion in annual revenue by 2021, official reports showed.   The canal's larger lane, made to accommodate....

British pound falls sharply in Asian trading

London: The British pound has fallen sharply in trading in Asia on Monday, adding to Friday's record one-day decline. The pound was trading at $1.3365, down almost 3 per cent....

Disclose undisclosed income by September 30: PM Modi

New Delhi: Prime Minister Narendra Modi on Sunday urged citizens with undisclosed income to come clean by September 30.   "I urge everyone to disclose undisclosed income by September 30.....

10% fall in Indian women in workforce in the past decade

New Delhi: The participation of Indian women in the workforce fell 10 per cent in the past decade as India recorded the lowest female labour force participation rate, a joint....

Indiabulls plans to raise Rs 300 crore through NCDs

Mumbai: Indiabulls Housing Finance on Saturday announced plans to raise Rs 300 crore via the issuance of non-convertible redeemable debentures. "The company proposes to issue 30,000 unsecured non-convertible redeemable debentures....

Gold surges after Brexit becomes reality

New Delhi: World equity markets plunged, sterling fell to a 31-year low against the dollar but gold price surged after Britain decided to opt out of the European Union (Brexit),....

Rampal coal power project in Bangladesh poses risks to Indian Exim Bank

Kolkata: The proposed Rampal coal power plant in Bangladesh will push up electricity rates in the country and it poses specific risks to the Indian Exim (Export-Import) Bank, according to....

Shock reverberates around the world as UK votes for exit from EU; Sensex down by 1000 points

New Delhi: The reaction on Brexit was unprecedented: no one had expected that the historic voting would be this contentious. The United Kingdom on Friday officially decided that it would....

Nokia elevates Sanjay Malik to lead its India business

New Delhi: Nokia on Friday announced the elevation of Sanjay Malik as the new Head of India market, effective from August 1.   He takes over from Sandeep Girotra, who....

Reliance Communications to use Jio’s network from next week

Mumbai: Customers of Reliance Communications’ high-speed data services will be able to use Reliance Jio Infocomm’s 4G network from next week, sources said.   In a letter to the Department of....

For Raghuram Rajan, clean-up in banks more important than growth

Bengaluru: The clean up of a bank's balance sheet was more important than growth, as was evident from the lesson every other country that had faced financial stress learnt, Reserve Bank....

FICCI hopes Reserve Bank will continue with reforms process

New Delhi: With the government further easing rules for foreign direct investment in India, industry chamber Ficci on Wednesday hoped the Reserve Bank of India will complement this move by....

Vijay Mallya resigns as chairman of Bayer’s Indian arm

Mumbai: Beleaguered tycoon Vijaya Mallya resigned as chairman of Bayer CropScience Ltd, the Indian subsidiary of the German pharma major Bayer AG, the company said on Tuesday.   "We regretfully accept....

Income Tax department tells officials to arrest, detain wilful defaulters

New Delhi: The Income Tax department on Tuesday asked its officers not to shy away from arresting, detaining and auctioning of attached assets of the wilful defaulters.   The IT....

Brexit speculation making global economy nervous: World Bank

New Delhi: With two more days to go for the crucial referendum on Britain's continuance in the European Union, speculation over its exit (Brexit) is making the global economy nervous....