Housing ministry wants ‘stress fund’ to complete stuck projects in Noida and Greater Noida
NEW DELHI: In a move that is likely to bring relief to home buyers in Noida and Greater Noida, the Ministry of Housing and Urban Affairs (HUA) has urged the Ministry of Finance to create “Stress Funds” to complete stalled housing projects in these areas. An official said Housing and Urban Affairs Secretary Durga Shanker […]
Poddar Housing to buy 102.5 acre land in Pune to develop residential project
NEW DELHI: Poddar Housing and Development has agreed to buy 102.5 acres land in Pune to develop an affordable housing project. In a filing to the BSE, the company said that its subsidiary Poddar Habitat Pvt Ltd, has “executed an agreement to acquire a land admeasuring approx 102.5 acres” at Chakan, Pune from Autoline Industrial […]
NCDRC directs DDA to deliver possession of flat along with Rs 1 lakh fine
NEW DELHI: The apex consumer commission has directed the Delhi Development Authority (DDA) to deliver the possession of a flat to a customer that was allotted in 2001 and pay Rs 1 lakh as compensation for the delay in transferring the ownership. The National Consumer Disputes Redressal Commission (NCDRC) upheld the orders passed by the […]
LIC chairman says all options open to revive IL&FS
NEW DELHI: LIC chairman says all options open to revive India’s largest state-run insurer, Life Insurance Corporation (LIC), will not allow the country’s beleaguered Infrastructure Leasing & Financial Services (IL&FS) to collapse, LIC Chairman V.K. Sharma told reporters on Tuesday. All options, including increasing LIC’s stake in IL&FS, are open, Sharma said. IL&FS has revealed […]
India-Pakistan trade potential stands at $ 37 billion: World Bank
ISLAMABAD: The trade potential between India and Pakistan stands at $37 billion, according to a World Bank report which said that continued political tensions and lack of normal trade relations between the two nations have cast a shadow over cooperation efforts within South Asia. The report ‘A Glass Half Full: The Promise of Regional Trade […]
Bids invited for debt-ridden Videocon under insolvency resolution process
NEW DELHI: Resolution professional of debt-ridden Videocon Industries on Tuesday invited bids from prospective buyers to take control of the firm, which has interest ranging from consumer electronics to oil and gas. The corporate insolvency resolution process (CIRP) of Videocon Industries Ltd (VIL), which has debt of around RS 20,000 crore, was commenced under the […]
India’s urban areas facing multi-pronged challenges in ensuring housing for all
NEW DELHI: India’s urban areas are facing multi-pronged challenges and a “complex ecosystem” in ensuring housing for all, Union minister Hardeep Singh Puri said on Tuesday. Speaking at Project Managers Global Summit 2018 on ‘Powering India’s Breakthrough Growth: New Dimensions in Project Management’ here Tuesday, Puri said meeting these challenges require efficient project management which […]
NCP backs demand for JPC probe into Rafale deal
PATNA: The Nationalist Congress Party (NCP) on Tuesday backed the demand for a Joint Parliamentary Committee (JPC) probe into the Rafale deal and asked the Centre to come out with a “white paper” on the matter. NCP national general secretary Tariq Anwar said that the BJP, which was in the opposition in the 1980s, had […]
Samsung eyes over 25% jump in mobile phone sales in festive season
NEW DELHI: South Korean tech giant Samsung expects to see over 25% growth in mobile phone sales during the festive season across price range in the country. The company, which competes with rival Xiaomi in the Indian market, is also strengthening its position in the Rs 20,000 – Rs 40,000 category (mid-price range) with the […]
Arun Jaitley hits out at Raghuram Rajan for MSME banking crisis statement
NEW DELHI: India’s Finance Minister Arun Jaitley on Tuesday hit out at former RBI governor Raghuram Rajan for predicting that the next banking crisis would be triggered by MSME lending, saying postmortem is easier than taking action when it was required. Rajan, who had as the chief economist at IMF warned of impending financial crisis […]
DDA’s planning body clears proposal for six-lane flyover
NEW DELHI: The planning body of the Delhi Development Authority (DDA) on Tuesday approved a proposal for a six-lane flyover in the city that will make a stretch of road signal-free from a section of a national highway to the GT Road, officials said. The decision was approved by the Unified Traffic and Transportation Infrastructure […]
Donald Trump, Emmanuel Macron discuss Syria, Iran and trade
By Lalit K Jha WASHINGTON: United States of America (USA) President Donald Trump on Monday held a meeting with his French counterpart, Emmanuel Macron, during which the two leaders discussed the situation in Syria, the aggressive behaviour of Iran and promoting free trade between the US and the European Union (EU). “The two leaders discussed […]
China says can’t hold USA trade talks with ‘knife to the throat’
BEIJING:China said on Tuesday it was impossible to hold trade talks with the United States of America (USA) while Washington is imposing tariffs that are like “holding a knife to someone’s throat”. Speaking a day after Washington activated tariffs on 200 billion in Chinese goods, vice commerce minister Wang Shouwen said China is open to […]
Will bring to justice those who stole from you, Rahul Gandhi tells jawans, IAF officers and HAL workers
NEW DELHI: Congress chief Rahul Gandhi on Tuesday said he understands the pain of jawans, Air Force officers, the families of martyred pilots as well as Hindustan Aeronautics Limited (HAL) workers and will work to bring to justice all those who dishonoured and stole from them. Gandhi addressed them all on Twitter in his apparent […]
Arun Jaitley asks PSU banks to take effective action against frauds, wilful defaults
NEW DELHI: India’s Finance Minister Arun Jaitley on Tuesday asked public sector banks to take “effective action” in cases of fraud and wilful loan defaults. Reviewing the performance of state-owned lenders, he exuded confidence that formalisation of the economy would help India achieve sustainable growth of 8 per cent. “FM, Shri @arunjaitley exhorted the banks […]
Facebook appoints Hotstar CEO Ajit Mohan as India Chief
MUMBAI: Facebook has poached the head of video streaming service Hotstar to take on the newly-created role of managing director of its Indian operations, as the social media giant faces pressure to tackle fake news and store more data locally. Ajit Mohan will take up the role of managing director and vice-president of Facebook India, […]