Business News

Rajasthan, private sector sign MOUs worth over Rs 11,000 crore

Jaipur: The Rajasthan government on Saturday signed 51 MOUs with the private sector for projects worth over Rs 11,500 crore, an official statement said. These MoUs, which were signed in....

Reliance Jio launch to intensify competition, consolidate spectrum

New Delhi: As Reliance Jio prepares for the launch of 4G telecom services in India, analysts feel the volumes and margins of incumbents will come under stress, even as the....

Urgent need of action to boost confidence about the recovery: IMF chief

Beijing: China is not the only economy in need of structural reforms as they are fundamental for the success of every G20 economy, IMF Managing Director Christine Lagarde said on....

Economic Survey pegs 7-7.5 % growth for current fiscal

New Delhi: The Economic Survey for 2015-16 tabled in parliament on Friday has pegged India's growth for the current fiscal in the 7-7.5 percent range.   Reviewing the major developments....

Railways to re-develop 400 stations under PPP mode

New Delhi: About 400 railway stations across the country would be re-developed through the public-private partnership (PPP) mode, Railway Minister Suresh Prabhu announced on Thursday while presenting his budget for....

Rupee weakened by 15 paise, touches 30-month closing low

Mumbai: The Indian rupee weakened by 15 paise on Thursday to touch its new 30-month closing low. The rupee closed at 68.71 against the US dollar at a level which....

BSE dented with the Rail Budget 2016

Mumbai: Disappointment over the railway budget, coupled with negative Asian indices and derivatives expiry, subdued Indian equity markets on Thursday.   This led to the barometer 30-scrip sensitive index (Sensex)....

Jet Airways, Korean Air partner to increase connectivity

New Delhi: Leading Indian flyer Jet Airways on Thursday announced codeshare and reciprocal frequent flyer programme partnership with Korean Air for increasing connectivity further. "The codeshare cooperation with Korean Air....

Counter tickets can be cancelled through cellphone: Prabhu

New Delhi: The Indian Railways is launching a procedure enabling commuters who had booked tickets from Passenger Reservation counters to get them cancelled through their cell phones.   Currently people....

Railways to partner with Karnataka for Bengaluru suburban system

Bengaluru: The railways will partner with the Karnataka government for developing suburban services in Bengaluru, Railway Minister Suresh Prabhu announced on Thursday. "Bengaluru, the technology hub of the country, warrants....

Rail budget shows the government’s commitment to welfare of poor: PM

New Delhi: Prime Minister Narendra Modi on Thursday said that the rail budget lays emphasis on investment and information technology and shows the government's commitment to welfare of poorer sections....

Ahead of Rail Budget, Indian equities open flat

Mumbai: Ahead of the presentation of the railway budget for the next fiscal year, key Indian equity indices opened flat on Thursday, with additional caution due to the expiry of....

India’s largest power generator NTPC garners over Rs.5,000 crore from stake sale

New Delhi: The government on Wednesday raised around Rs.5,030 crore from sale of 5 percent stake in India's largest power generator NTPC, although retail participation was lukewarm at a time....

Caution selling dent markets, Sensex down 102 points

Mumbai: Caution selling, combined with profit booking and negative Asian indices dragged the Indian equity markets lower during the early morning trade session on Tuesday.   Market analysts cited, caution....

Rupee weakened by 14 paise, touches 30-month low

Mumbai: The Indian rupee weakened by 14 paise on Monday to touch its 30-month closing low. The rupee closed at 68.60 against the US dollar, at level which was last....

Budget to be growth-oriented with eye on fiscal deficit: Official

New Delhi: Ahead of the February 29 presentation of India's budget 2016 for the next fiscal, the government on Monday promised a growth-oriented budget that would also keep in mind....

Andhra Pradesh registers double-digit growth

Vijayawada:  Andhra Pradesh has achieved double-digit growth in the current fiscal, with 10.5 percent growth up to December 31, a senior official said on Monday.   The growth in 2014-15....

Budget 2016: Countdown begins for Jaitley and Prabhu

New Delhi: From average tax-payers and rail commuters to global investors and analysts, all eyes for the next seven days are on two crucial Indian budgets to be tabled by....

Adidas opens its largest distribution centre near Delhi

New Delhi: Adidas Group India has inaugurated a new distribution centre called ‘1 DC’ near Delhi, which the company claims to be the largest centralised facility of sporting goods in....

Possible recession within next three years in US: Economists

Washington: A very possible recession within the next three years would take place in the US, economists warned at a meeting of US governors. There is a "100 percent certainty"....

Tax deductible for premium on insuring household property

Chennai: Allowing deduction of premium paid by individuals on insuring their properties and clarity on legal position on non-taxability of technical reserves form part of the wishlist of the non-life....

Budget should fund infrastructure to spur growth: Survey

New Delhi: The Union Budget for the next fiscal (2016-17), to be presented on February 29 by Finance Minister Arun Jaitley, should earmark enough funds for investing in infrastructure that....

Gujarat tourism targets Rs 3,000 crore investment in five years

Gandhinagar: The Gujarat government is expecting investments of Rs 3,000 crore in tourism sector in the next five years, Chief Minister Anandiben Patel said on Saturday. "The state tourism sector....

Health minister rules out possibility of hike in drug prices

Alappuzha: Union Health Minister JP Nadda on Saturday ruled out the possibility of any increase in drug prices due to a hike in import taxes, and said medicines would be....

Currency revaluation attributes in rise of Forex reserves by $345 million

Mumbai: Despite a massive decline in India's reserve position with the International Monetary Fund (IMF), the country's foreign exchange (Forex) reserves kitty grew by $347 million during the week ended....

ONGC to invest Rs 5,050 crore for exploration of more gas in Tripura

Agartala: The state-owned Oil and Natural Gas Corporation (ONGC) has undertaken a Rs 5,050 crore ambitious plan to explore for more gas in northeastern state of Tripura, a top official....

Oil supply witnesses a historic low in US

Houston: The oil rig count continued its downward trend in the United States this week with only 413 still operating, a leading oil field service company said. The number of....

Charoen Pokphand to expand its fast food chicken outlets

Chennai: Thailand-based multi-national $45 billion Charoen Pokphand (CP) group is expanding its quick service restaurant (QSR) Five Star Chicken network in its core Indian markets while adding new items on....

Budget must balance taxation, spending, borrowing: Sinha

New Delhi: Ahead of the national budget for the next fiscal, Minister of State for Finance Jayant Sinha on Saturday said it was necessary to balance what the government manages....

Budget 2016 to focus on poor, progress, jobs: Jayant Sinha

New Delhi: The uplift of the poor, progress of farmers and employment for the youth will be the focus of the upcoming budget, Minister of State for Finance Jayant Sinha....