India committed to give land titles to legitimate forest dwellers
GREATER NOIDA: The government of India is committed to give land titles to all legitimate forest dwellers as they are a part of the forest development strategy, Union environment minister Prakash Javadekar said. He was addressing a press conference on the concluding day of the 14th Conference of Parties (COP 14) to the United Nations […]
DLF sells nine-acre land to American Express for Rs 300 crore
NEW DELHI: Realty major DLF has sold a 9 acre land parcel in New Gurugram to American Express for about Rs 300 crore in one of the costliest land deals in this area, sources said. The selling price comes out to be around Rs 32 crore per acre. American Express will develop a large campus […]
SBI chief slams ‘selfish’ private sector bank for Altico crisis
NEW DELHI: State Bank of India (SBI) chairman Rajnish Kumar has slammed a “selfish” private sector lender for the crisis at Altico Capital, as its unilateral move to secure its own money can potentially cause troubles to the wider financial system. The realty-focused non-banking lender Altico, which owes over Rs 4,500 crore to the system […]
Sachin Bansal, Reliance MF, other investors of Altico face defaults on Rs 95 crore debt
MUMBAI: Nonbank lender Altico Capital’s bond investors, including Flipkart cofounder Sachin Bansal and Reliance Mutual Fund, face immediate defaults on two series of outstanding debt coming up for repayment in the next two weeks–about Rs 95 crore all told is due on September 26 and 29. Altico has bonds worth a total Rs 1,808 crore […]
Unsold spectrum resulted in Rs 5.4 lakh crores losses: BIF
NEW DELHI: Broadband India Forum (BIF), a think tank for Digital Transformation today said that the quantum of 5G spectrum that has been allocated for the upcoming 5G spectrum auctions is not enough for a country of India’s size and density. The amount of 5G spectrum as recommended by TRAI at 175 MHz is less […]
Restaurants association, Zomato still sparring over on Gold programme
NEW DELHI: National Restaurant Association of India (NRAI) on Monday said no significant progress could be made on Zomato Gold issues in the meeting held with the company. The discussions on eight central issues in the second meeting with key delivery aggregators Zomato and Swiggy were, however, mostly positive, it added. “Follow up meetings with […]
Air India posts Rs 4,600 crore operating loss in 2018-19; aims operating profit this fiscal
NEW DELHI:Air India posted an operating loss of around Rs 4,600 crore in the last financial year mainly due to higher oil prices and foreign exchange losses but the debt-laden carrier expects to turn operationally profitable in 2019-20, according to senior officials. Reflecting tough business conditions, the airline’s net loss stood at about Rs 8,400 […]
Infosys opens new R&D centre in Arizona, to hire 1,000 US workers by 2023
NEW DELHI: Infosys has joined Arizona Governor Doug Ducey to inaugurate its Technology and Innovation Center in Arizona. Infosys plans to hire 1,000 American workers in the state by 2023. Infosys also announced that it has surpassed its Spring 2017 commitment to hire 10,000 American workers as part of its ongoing efforts to accelerate the […]
Vistara to start daily flight on Delhi-Indore route from October 26
NEW DELHI: Vistara airline on Saturday announced it will start a daily flight on Delhi-Indore route from October 26 this year. With this, Indore becomes 30th destination on its network. According to Vistara, the flight will depart from Delhi airport at 6.55 am daily and arrive at Indore airport at 8.20 am. The return flight […]
Association with IIM will help Uttar Pradesh become $1 trillion economy: Yogi Adityanath
NEW DELHI :Uttar Pradesh Chief Minister Yogi Adityanath on Sunday said by joining hands with IIM-Lucknow, the state government will deliver good governance and achieve the goal of becoming a $1 trillion economy. Adityanath was speaking at the second edition of ‘Manthan’— a leadership development programme conducted by senior faculty of the Indian Institute of […]
Reliance Industries, BP take over Niko’s 10% stake in KG-D6 block
NEW DELHI: Reliance Industries Limited (RIL) and UK’s BP plc have taken over the 10 per cent shareholding of their partner Niko Resources in the eastern offshore KG-D6 block after the Canadian firm defaulted on paying for its share of gas field development cost. Sources with knowledge of the development said the oil minister has […]
Prestige Estates enters NCR property market; to invest Rs 500 crore in housing
NEW DELHI: Leading realty firm Prestige Estates Projects Ltd is foraying into the Delhi-NCR market and has tied up with local developer Ace Group to launch its first housing project in Noida with an investment of around Rs 500 crore on construction. In its last 32 years of operations, the Bengaluru-based Prestige Group has completed […]
Real estate developers welcome measures announced by Nirmala Sitharaman
By Deepshikha Singh NEW DELHI: The real estate sector has welcomed the new measures announced by Finance Minister Nirmala Sitharaman to revive the economy especially announcement of Rs 20,000-crore fund to complete stalled projects. Interestingly, the government has not announced measures to create demand, which is necessary to rid the sector of unsold inventory and persistent […]
Stress fund can help resolve last mile funding crisis in delayed and stalled projects: NAREDCO
NEW DELHI: To help home buyers stuck with under construction homes in projects that have remained unfinished, the government of India has announced a special window to provide last mile funding for housing projects which are non-NPA and non-NCLT and are net worth positive in affordable and middle income category. “The Finance Minister Nirmala Sitharaman who […]
New commissionerate for Mira, Bhayandar, Vasai, Virar
NEW DELHI: The Maharashtra government on Friday issued a government resolution (order) for setting up a commissionerate for Mira, Bhayandar, Vasai and Virar in neighbouring Palghar district. The date from which the commissionerate will come into existence will be announced later. An Additional Director General-rank IPS officer will be the top official of the commissionerate. […]
Forex reserves soar USD 1 billion to USD 429.60 billion
NEW DELHI :The country’s foreign exchange reserves increased by USD 1.004 billion to USD 429.608 billion in the week to September 6, helped by a rise in foreign currency assets, RBI data showed on Friday. In the previous week, the reserves had fallen by USD 446 million to USD 428.604 billion. The reserves had touched […]