Chinese Prez Xi meets Imran Khan, calls for improvement of Indo-Pak relations
By K J M Varma BEIJING: Chinese President Xi Jinping met Prime Minister Imran Khan on Sunday and expressed hope that Pakistan and India can meet each other halfway to improve their strained relations following the Pulwama terror attack by a JeM suicide bomber. Both leaders also exchanged views on the situations in South Asia, […]
72 Lok Sabha seats in 9 states go to polls in 4th phase on Monday
NEW DELHI: Polling will be held on Monday for the fourth phase of Lok Sabha election in 72 parliamentary constituencies spread across nine states The stakes are high for the ruling BJP and its allies as it had swept 56 of these seats in 2014, leaving just two for the Congress and the rest for […]
RBI’s revised guidelines for resolution of stressed assets likely before May 23
NEW DELHI/ NEW DELHI: The Model Code of Conduct for the Lok Sabha polls is unlikely to have any bearing on issuance of a revised framework for resolution of stressed assets by the Reserve Bank and the guidelines are expected to be announced before May 23, sources said. Against the backdrop of the Supreme Court […]
Non-disclosure of info by RBI under RTI will be viewed seriously, says Supreme Court
NEW DELHI: The Supreme Court of India has granted RBI “last opportunity” to withdraw its policy exempting the central bank from disclosing information, like annual inspection report on lenders, under the transparency law and cautioned that future violations would be “viewed seriously”. The top court made clear that RBI was “duty bound to furnish all […]
PepsiCo proposes settlement to Gujarat potato farmers sued by it
AHMEDABAD: Food and beverages giant PepsiCo has offered to settle lawsuits against four farmers who it has dragged to court for allegedly illegally growing a variety of potatoes “registered” by the company. Nine farmers from Sabarkantha and Aravalli districts are being sued by PepsiCo for allegedly growing a variety of potatoes for which it has […]
Financial crisis hits Pawan Hans
NEW DELHI: After Jet Airways and Kingfisher Airlines, it is now the turn of Pawan Hans Limited, which is facing a financial crisis. Pawan Hans’ management, on April 25, issued a circular to its employees stating that the company is not in a position to disburse employees’ salaries for the month of April due to […]
Maruti to set up hospital, school in Gujarat; earmarks Rs 125 crore for the projects
NEW DELHI: The country’s largest carmaker Maruti Suzuki India (MSI) said it will set up a multi-speciality hospital and a senior secondary school in Sitapur in Gujarat. Both projects will be fully-funded as CSR initiatives by MSI with an investment of around Rs 125 crore over a five-year period, it said in a statement. “Suzuki […]
Pre-monsoon rainfall records 27% dip says IMD
NEW DELHI: Pre-monsoon rainfall from March to April, a phenomenon critical to agriculture in some parts of the country, has recorded 27 per cent deficiency, according to the India Meteorological Department (IMD). The IMD recorded 43.3 millimetres of rainfall across the country from March 1 to April 24 as against the normal precipitation of 59.6 […]
Yes Bank books loss of Rs 1,506 crore in Q4
NEW DELHI: Private sector lender Yes Bank on Friday reported a loss of Rs 1,506.64 crore for the fourth quarter ended March 2019 owing to rise in provisioning for bad loans. The bank had recorded a net profit of Rs 1,179.44 crore on standalone basis during January-March period of 2017-18 However, total income rose to […]
Iraq on track to be third oil supplier in 2030: IEA
BAGHDAD: Iraq is on track to produce nearly six million barrels of crude daily by 2030, the International Energy Agency said Thursday, which would make it the world’s third biggest oil supplier. The IEA’s wide-ranging report found that Iraq’s production in the next decade could increase by an impressive 1.3 million barrels per day to […]
Maruti won’t be selling diesel cars from April 2020
NEW DELHI:India’s largest carmaker Maruti Suzuki India (MSI) will discontinue sale of diesel cars in the country from April next year, coinciding with the transition of the automobile industry to stricter BS VI emission norms, a top company official said on Thursday. The auto major currently gets 23 per cent of its total sales in […]
Congress committed to single GST: Rahul Gandhi
NEW DELHI: Congress president Rahul Gandhi on Thursday said the “Gabbar Singh Tax” and demonetisation “destroyed” crores of jobs, and asserted that his party was committed to implementing a “single GST”. He also tweeted a video on the Congress’s vision for “GST 2.0”, which highlights the problems faced by small traders from the current version […]
Bimal Jalan panel on RBI’s capital size likely to submit report by June
NEW DELHI: A high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, is likely to submit its report by June. The six-member Jalan panel was appointed on December 26, 2018 to review the Economic Capital Framework for the RBI. “The report […]
Sebi bars Hotel Leelaventure from selling properties to Brookfield Asset Management
NEW DELHI: Cash-strapped Hotel Leelaventure on Wednesday said capital markets regulator Securities and Exchange Board of India (SEBI) has barred it from selling its four hotels and other assets to Canadian investment fund Brookfield Asset Management. On March 18, Hotel Leelaventure Ltd (HLVL) had announced sale of its four hotels located in Bengaluru, Chennai, Delhi […]
Boeing reports lower profits amid 737 MAX crisis
NEW YORK: Boeing reported lower first-quarter profits Wednesday as the global grounding of its 737 MAX plane following two crashes hit results. The US aerospace giant reported USD 2.1 billion in profits, down 13.2 per cent from same period a year ago. Boeing also withdrew its full-year profit forecast due to uncertainty surrounding the 737 […]
Softbank eyes investment of $2-3 billion in Reliance Jio as Mukesh Ambani deleverages biz
NEW DELHI: Japan’s Softbank is reportedly looking to make a $2-3 billion investment in India’s fastest-growing telecom firm Reliance Jio as billionaire Mukesh Ambani looks to deleverage business by selling stakes. This comes on the back of reports of Saudi giant Aramco in discussions to buy a 25 per cent stake in Reliance Industries’ refining […]