Business

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....

Ruckus in JSW plant in Karnataka

Bengaluru: In a shocking video, the labourers working in Jindal Steel Works in Karnataka were seen beaten up by the Human Resource (HR) manager of the company.   The workers....

Bombay Stock Exchange, budget 2017, Image, NIFTY, NSE, SENSEX

Markets open on higher note

Mumbai: The 30-scrip BSE Sensitive Index (Sensex), after opening on a positive note on Tuesday, moved into the negative zone during the morning session of the trade.   The Sensex,....

Boeing to sell 100 passenger planes to Iran

Tehran: Iran has reached an agreement with the US Boeing to purchase 100 passenger planes to renew the country's aging fleet, the media reported on Sunday.   The deal awaits....

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Automation and design thinking crucial for company: Sikka

Bengaluru: Infosys CEO Vishal Sikka on Saturday said automation and design thinking have become crucial for the company and are already showing results. "The repetitive tasks can be automated by....

Infosys clocks revenues of Rs 62,441 cr in fiscal 2015-16

Bengaluru: IT bellwether Infosys recorded revenues of Rs 62,441 crore in fiscal 2015-16 with an annual growth rate of 17.1 per cent, said Infosys Chairman R. Seshasayee at the 35th....

Max Life Insurance and Financial Services fall under HDFC’s umbrella

New Delhi: In what could be called the biggest merger of recent times in India, Max Life Insurance and Max Financial Services together are merging with HDFC Standard Life Insurance;....

Uber, Tata Groups partner to improve vehicle services

New Delhi: Online transportation network company Uber on Thursday entered into an agreement with Indian multinational conglomerate holding company Tata Groups to improve its vehicle services. As per the agreement,....

Positive global cues push key Indian equity indices higher

Mumbai: Positive global cues pushed the Indian equity markets higher on Friday. Consequently, the key indices traded in the green during the early morning trade session. Healthy buying was witnessed....

PM Narendra Modi calls for 10 crore people to be drawn into tax net

New Delhi: Prime Minister Narendra Modi on Thursday called for 10 crore people to be brought into the tax net, up from the current 5.3 crore, in a bid to expand....

Central Bank of Greece Governor Yannis Stournaras calls for debt relief

Athens: Central Bank of Greece Governor Yannis Stournaras formally submitted to parliament on Wednesday the bank's annual monetary policy report for 2015-2016 which suggests imminent debt restructuring, deep reforms and lower....

BlackBerry leader of Magic Quadrant market

New Delhi: Canadian smartphone maker BlackBerry has been named a leader in the "Magic Quadrant for Enterprise Mobility Management" (EMM) Suites, research and advisory firm Gartner announced on Wednesday.  ....

Bharti Infratel to buy back 47 mn shares to return surplus funds to shareholders

Mumbai: Bharti Infratel will buy back 47 million shares for Rs 425 each in a deal valued at Rs 2,000 crore, in a bid to return surplus funds back to....

Ola introduces its luxurious ride ‘Ola Lux’ in Delhi NCR

New Delhi: After a successful launch in Mumbai, Ola, India's most popular mobile app for transportation brings its newest luxury category 'Ola Lux' to Delhi NCR.   The taxi aggregators....

LinkedIn acquired by Microsoft for $26.2 billion

San Francisco: Microsoft on Monday announced to acquire professional networking website LinkedIn for $26.2 billion in an all-cash deal billed as one of the largest such acquisitions in the social....

AirAsia announces huge discount; flight tickets start at Rs 899

New Delhi: To celebrate its two years of operations in India, AirAsia India announced a huge discount with flight tickets starting from Rs 899 one way. The low-cost budget carrier....