AAI employees protest against government move to privatise 6 airports
NEW DELHI: Hundreds of employees of state-owned AAI on Tuesday staged protests across the country against the government’s decision to privatise six profit-making airports, according to a union representative. The protests were organised by the Airports Authority Employees Union. Last month, the government cleared a proposal to manage six AAI airports under public private partnership. […]
Over 18.10 lakh registered companies, only 62% active at end of October
NEW DELHI: India has more than 18 lakh registered companies but only 62 per cent of them were actively functioning at the end of October, according to official data. The majority of active companies were engaged in business services. With more than 6.46 lakh companies shuttered and many others undergoing various regulatory processes, including liquidation, […]
A.N. Jha appointed India’s new finance secretary
NEW DELHI: A N Jha, Secretary, Expenditure, has been appointed as India’s new Finance Secretary, a government order said on Monday. Prime Minister Narendra Modi led Appointments Committee of the Cabinet has cleared Jha’s appointment to the post after incumbent Hasmukh Adhia, a 1981-batch Gujarat cadre officer of the Indian Administrative Service (IAS), retired on […]
IPL player auction to be held in Jaipur on December 18: BCCI
NEW DELHI: The player auction ahead of the 2019 Indian Premier League (IPL) will be held in Jaipur on December 18, the Board of Control for Cricket in India (BCCI) announced on Monday. The auction will be a one-day affair and there is also a change in venue with the event moving to the Pink […]
Gaurs Group gives exit to Indiabulls, pays Rs 340 crores debt
NEW DELHI: NCR-based real estate developer Gaurs Group has provided an exit to Indiabulls by paying back a debt of Rs 340 crores. The debt was raised 1.5 years back and was used for the construction of Gaur City Mall in Greater Noida West. Gaurs Group in recent times has done tremendous sales in most […]
China agrees to ‘reduce and remove’ tariffs on USA cars: Donald Trump
WASHINGTON: China has agreed to scale back tariffs on imported United States of America (USA) cars, President Donald Trump said Sunday, one day after agreeing with Xi Jinping to a ceasefire in the trade war between the world’s top two economies. Asia stocks had rallied on the news that Washington and Beijing would not impose […]
Qatar to quit OPEC in 2019
DOHA: Qatar is to leave Organization of the Petroleum Exporting Countries (OPEC) next month in order for the Gulf state to focus on gas production, Energy Minister Saad al-Kaabi announced on Monday. “Qatar has decided to withdraw its membership from OPEC effective January 2019,” Kaabi said at a Doha press conference. He added that Qatar […]
Reliaable Developers launches second in-house project Reliaable Residenza
NEW DELHI: Bengaluru-based Reliaable Developers said that it has launched their second in-house projects Reliaable Residenza at a soiree hosted for members of CREA India in Shangri La Hotel, Bengaluru. This BDA-approved project, Reliaable Residenza by Reliaable Developers is a luxury development complete and ready for ownership located close to HSR Layout, off Sarjapur road. […]
NIB, Nokia agree EUR 250 million financing for 5G research and development
NEW DELHI:Nokia today signed a EUR 250 million loan transaction with the Nordic Investment Bank (NIB) to finance research and development activities related to 5G technology. The loan, which has an average maturity of approximately 5 years after disbursement, will finance Nokia’s extensive research and development program focused on 5G activities in Europe in 2018-2020. […]
RBI likely to keep interest rate unchanged on 5 December
NEW DELHI: The Reserve Bank of India (RBI) is likely to maintain status-quo on interest rate in the upcoming monetary policy review on December 5 despite moderation in economic growth and easing inflation, opined experts. After back-to-back hikes since June, the RBI had kept interest rates unchanged in the previous policy review in October, surprising […]
14 Jet Airways flights cancelled as pilots call in ‘sick’: Report
NEW DELHI: Jet Airways cancelled at least 14 flights to various destinations on Sunday after some of its pilots reported “sick” over non-payment of their dues, sources said. The loss-making private carrier has been defaulting on salary disbursement to its senior management along with pilots and engineer since August due to severe cash crunch. The […]
A strong balance sheet essential for credibility of RBI: Fitch
NEW DELHI: Pitching for a strong balance sheet for the Reserve Bank of India (RBI) , Fitch Ratings said it was essential to ensure independence and credibility of the central bank. The RBI board last month decided to set an expert committee to decide the economic capital framework of the RBI to determine the appropriate […]
FPI inflows hit 10-month high of Rs 12,260 crore in November
NEW DELHI: Overseas investors have pumped Rs 12,260 crore into the Indian capital markets in November, making it the highest inflow in 10 months due to falling crude oil prices and sharp rupee appreciation. The inflow comes following a net withdrawal of close to Rs 60,000 crore from the capital markets (equity and debt together) […]
India to host G-20 summit for the first time in 2022
BUENOS AIRES: For the first time, India will host the annual G-20 summit in 2022, coinciding with the country’s 75th anniversary of Independence. Prime Minister Narendra Modi made the announcement at the closing ceremony of the 13th G-20 summit here in the Argentinian capital on Saturday. He thanked Italy for allowing India to play the […]
China rejects India’s proposal to trade in rupee-renminbi
NEW DELHI:China has not accepted India’s proposal to carry out bilateral trade in local currencies which was aimed at bridging the ballooning trade deficit with the neighbouring country, an official said. India’s exports to China stood at only $13.4 billion, imports aggregated to $76.4 billion in 2017-18, leaving a trade deficit of $63 billion. It […]
Jet Airways to close services on seven Gulf routes amid financial woes
NEW DELHI: Struggling to keep it afloat in the wake of a dismal financial performance in the last three quarters, Jet Airways is withdrawing its flight services on as many as seven Gulf routes from this month, a source said. The Naresh Goyal-controlled airline will not operate as many as 39 services per week to […]