Business

India’s foreign exchange reserves go down marginally

Chennai: India's foreign exchange reserves went down to $355.55 billion for the week ended March 25, the Reserve Bank of India (RBI) said.   According to RBI's forex data, the....

CBDT processes 6.53 lakh online tax return correction requests

New Delhi: India's tax department has processed over 6.53 lakh online rectification applications in the last fiscal and asked assessees to make use of the e-filing portal for correcting mistakes....

Maruti Suzuki sales up 15.9 percent for March

Mumbai: Passenger automobile manufacturer Maruti Suzuki on Friday reported a 15.9 percent growth in total sales for March. The company's total sales stood at 129,345 units during the month --....

Sachin Tendulkar launches Smartron’s smartphone & tablet

New Delhi: Cricketer Sachin Tendulkar on Friday launched Smartron's smartphone called 't-phone' and a two-in-one notebook of the technology company. While unveiling the phone, Tendulkar said that he will offer....

Indian Oil Corp bids for joint venture with Myanmar Petroleum

Nay Pyi Taw: Indian state-run company Indian Oil Corporation (IOC) has bid for fuel trade with Myanmar, the media reported on Friday. Myanmar Petroleum Products Enterprise (MPPE) offered the tender....

Reliance Defence, Ukraine’s Antonov to partner for dual version transport aircraft

Mumbai: Reliance Defence on Thursday said it is partnering the Ukraine-based state corporation Antonov for dual version transport aircraft for military, para military and commercial use in India that has....

RBI revises external commercial borrowings framework

Kolkata: Considering the critical need for long-term funding of infrastructure sector in the country, the Reserve Bank of India (RBI) has revised the overseas borrowings or external commercial borrowings (ECBs)....

Russia’s Rostec to provide long-term maintenance for Mi-17 choppers

Panaji: Russian Helicopters is close to signing a long-term maintenance agreement with India's Defence Ministry to provide after sales service for the entire fleet of Mi-17 helicopters, said the foreign....

Reliance Defence, Rafael to partner for development of defence manufacturing

Mumbai: Reliance Defence, a part of the Anil Ambani-led group, on Tuesday said it is forming a joint venture in India with Rafael of Israel for air-to-air missiles, air defence....

Reliance Defence delivers first ship after Pipavav takeover

Mumbai: Reliance Defence has delivered its seventh offshore supply vessel to Oil and Natural Gas Corp. from its stable of indigenously designed and built ships, on an order valued at....

Constrained dollar demand by jewellers to exert an upward pressure on rupee

Mumbai: Pent up demand for US dollars by the jewellery sector, coupled with a weak Chinese yuan are expected to exert pressure on the Indian rupee during the upcoming week,....

Jaitley visiting Australia soon to woo investments

New Delhi: Finance Minister Arun Jaitley will fly to Australia on March 28 on a four-day visit to attract foreign investments in the infrastructure sector.   "One of the objectives....

CraftsVilla expands its services to Australia, New Zealand and Middle East

New Delhi: CraftsVilla, an Indian online vendor for ethnic products, has expanded its services to Australia, New Zealand and Middle East countries. Craftsvilla.com is a marketplace to discover unique Indian....

Nippon Life to acquire 23 percent stake in Reliance Life for $348 million

Mumbai: The Foreign Investment Promotion Board has granted approval to Japan's Nippon Life Insurance to increase its stake in Anil Ambani-led Reliance Life Insurance (RLI) to 49 percent, which will....

Bharti Airtel acquires Videocon Telecom Spectrum in 6 circles for Rs 4,428 crore

New Delhi: Bharti Airtel, India’s largest Telecom operator, has taken over Videocon Spectrum for Rs 4,428 crore. The development has come after Idea Cellular and Videocon announced the termination of....

The Blackstone Group acquires Mphasis in rumoured $1 billion deal

New Delhi: The Blackstone Group has emerged as the strongest contender to acquire (Information Technology) IT services firm Mphasis from Hewlett Packard Enterprise in a deal, which is said to....

China’s richest man Jack Ma to retire from Alibaba on his birthday

Alibaba to train one million teenagers to take e-commerce to rural areas

Beijing: Alibaba reached an agreement on Tuesday with the China Communist Youth League, a CPC reserve force, to train one million teenagers to take e-commerce to rural areas. The agreement....

Key Indian equity indices trading flat on Tuesday morning

Mumbai: After gaining for two straight sessions, key Indian stock indices were trading flat on Tuesday morning. Trading at other Asian markets was also cautious ahead of the decisions over....

India’s inflation eases, Industry raises pitch for rate cut

New Delhi: India's annual retail inflation eased to 5.18 percent in February from 5.69 percent in the month before even as the 12-month wholesale inflation was in the negative for....

Sasken Communication soars after settlement with Spreadtrum

Mumbai: After the announcement of settlement with Spreadtrum Communications Inc. and Beijing Uni, Sasken Communication Technologies surged by 20% to Rs 379 on the BSE to register its biggest intraday....

India’s star shines bright in global gloom: IMF chief

New Delhi: With young workforce and continuing policy reform, India has not only emerged as the fastest-growing economy, but its stars also shine bright amid the current global gloom, International....

Modi, IMF chief set to address ‘Advancing Asia’ conference

New Delhi: Prime Minister Narendra Modi and International Monetary Fund (IMF) Managing Director Christine Lagarde were set to address the "Advancing Asia Conference" here on Saturday morning to take stock....

Bajaj Auto announces the booking of motorcycle ‘Bajaj V’; delivery on March 23

Hyderabad: India’s leading two wheeler manufacturer Bajaj Auto Limited has finally announced the booking window for its highly awaited executive commuter motorcycle, 'Bajaj V', from March 10-20. The bike contains....

Data pricing pressures already pinching the incumbents

New Delhi: Even before Reliance Jio launches its 4G services in the country, Morgan Stanley believes the pricing pressures are already pinching the incumbents thanks to a tepid growth in....

China’s economy had sanguine performance last year

Beijing: China's economy had a "sanguine performance" last year, a senior regulator said on Sunday on the sidelines of the annual parliamentary session. Xu Shaoshi, who heads the National Development....

EPF’s tax row: Big announcement expected, Modi likely to defer EPF tax

New Delhi: Prime Minister Narendra Modi’s government is likely to defer the Employees Provident Fund (EPF) tax proposed in the General Budget 2016. The big announcement is expected in Lok Sabha....

PM Narendra Modi requests FM Arun Jaitley to restore tax benefits on EPF

New Delhi: Prime Minister Narendra Modi has asked Union Finance Minister Arun Jaitley to reconsider the budgetary proposal under which a part of the Employees Provident Fund (EPF) withdrawal will....

IMF to separately identify Chinese yuan in survey of COFER

Washington: The International Monetary Fund (IMF) announced it will separately identify the Chinese yuan in its quarterly survey of the composition of foreign exchange reserves (COFER) from October 1. Currently,....

Big win for mobile consumers: SC refuses to stay Delhi HC order on compensation

  New Delhi: With Delhi High Court’s landmark judgement, telecom companies would be required to pay Re 1 for every call drop, with Rs 3 being the maximum compensation which....

China tops the world in digital payment systems

Beijing: China has the highest adoption rate in the world for technology-enabled payment systems, the media reported on Thursday. In a survey of 13,000 respondents in 26 countries, 86 percent....