Mindtree acquisition on top of agenda; will make it a big firm: A M Naik
NEW DELHI: Acquisition of Mindtree is the topmost agenda for infrastructure giant Larsen & Toubro at the moment and eventually the mid-sized IT firm is going to be transformed into a big company, L&T Group Chairman A M Naik said. The $20 billion conglomerate, which has taken its overall holding in Mindtree to about 26 […]
IOC studying if Iran’s investment in Chennai refinery violates US sanctions
NEW DELHI: India’s top refiner Indian Oil Corp (IOC) will evaluate the implications of US sanctions if Iran was to invest in its subsidiary Chennai refinery’s Rs 35,700 crore expansion, its Chairman Sanjiv Singh said. IOC plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary Chennai Petroleum Corp Ltd […]
DRT summons McDonald’s India, Vikram Bakshi and asks to deposit proceeds
NEW DELHI: McDonald’s India and its estranged partner Vikram Bakshi have been directed by the Debt Recovery Tribunal (DRT) to appear before it and deposit the proceeds of the proposed settlement with respect to their joint venture firm Connaught Plaza Restaurants Pvt Ltd (CPRL). Earlier this month, fast food chain McDonald’s reached an out-of-court settlement […]
JK Cement reports 55% rise in net profit to Rs 150 crore for Q4
NEW DELHI: JK Cement on Saturday reported 55 per cent rise in net profit to Rs 150 crore for the fourth quarter ended March 2019. The company had posted a net profit of Rs 96 crore in the same quarter previous fiscal. Its total revenue during the quarter under review rose to Rs 1,492 crore […]
Etihad nominee on Jet Airways board Robin Kamark quits
NEW DELHI: Grounded carrier Jet Airways on Friday said Etihad nominee director on the airline’s board, Robin Kamark, has quit the company with effect from May 16. After Kamark’s exit, only Ashok Chawla and Sharad Sharma remain on Jet Airways board, which ceased operations around mid-April. The Gulf-based Etihad, which acquired 24 per cent stake […]
Boeing says 737 MAX software is complete
NEW YORK: Boeing said Thursday that it completed its software update on the 737 MAX after two deadly crashes resulted in a global grounding of the aircraft. The proposed fix, which addresses a problem with a flight handling system thought to be a factor in both crashes, must now win approval from US and international […]
We’re open for any partnership with Indian carriers: Qatar Airways
NEW DELHI: Qatar Airways, which has sought additional seat capacity on temporary basis for its flights from Indian cities to Doha, Thursday said it will “seriously” consider any proposal for partnership from Indian carriers. The blockade on Qatar and withdrawal of 28 weekly between Doha and cities of New Delhi and Mumbai has increased the […]
PNB decides not to sell stake in housing finance wing, calls off pact
NEW DELHI: State-run Punjab National Bank (PNB) on Thursday said it has terminated the agreements with General Atlantic Group and Varde Partners to sell its stake in PNB Housing Finance (PNBHF). The bank, in a filing to the exchange, said it will continue to be the sole promoter of PNB Housing Finance post the termination […]
SpiceJet to start daily Mumbai-Jeddah flight from July 5
NEW DELHI: SpiceJet announced on Thursday that it will start a daily non-stop flight on Mumbai-Jeddah sector from July 5. The airline said it will also start six new domestic flights from May 20 on the following sectors: Mumbai-Dehradun-Mumabi, Mumbai-Guwahati-Mumbai and Guwahati-Bagdogra-Guwahati. “Mumbai is the third destination after Hyderabad and Kozhikode which is being connected […]
Piramal Capital & Housing Finance expands its housing finance presence in Gujarat
NEW DELHI: Piramal Capital & Housing Finance Limited (PCHFL), the wholly owned subsidiary of Piramal Enterprises Limited, has announced the expansion of its housing finance operations in Gujarat, with the launch of two new branches – Vadodara and Surat. The company will provide its housing finance offerings namely home loans, loans against property and small […]
Not clearing dues, Deewan Chand Builders faces wrath of PF department
By Anish Singh NEW DELHI: A Delhi-based construction company on Thursday faced the wrath of recovery department of provident fund for failure to pay dues to its employees. The provident fund department attached the office of Deewan Chand Builders Pvt Ltd in South Delhi’s Greater Kailash locality along with a Mercedes Benz car and a […]
CBI withdraws application from Delhi court seeking permission to probe Rs 64-crore Bofors payoff case
NEW DELHI: The CBI on Thursday withdrew from a Delhi court its application that had sought permission to further probe the politically sensitive Rs 64-crore Bofors payoff case. The agency told Chief Metropolitan Magistrate Navin Kumar Kashyap that it wants to withdraw the application filed on February 1, 2018. It had moved the trial court […]
Monsoon likely to arrive 5 days late on June 6: IMD
NEW DELHI: The monsoon is likely to be delayed this year as its arrival expected on June 6, five days after its normal onset date, the India Meteorological Department (IMD) said on Wednesday. “This year, the statistical model forecast suggests that the monsoon onset over Kerala is likely to be slightly delayed,” the IMD said. […]
Monsoon likely to hit Kerala on June 4: Skymet
NEW DELHI: Monsoon is likely to arrive in Kerala on June 4, marking the official commencement of the rainy season in the country, private weather forecaster Skymet said on Tuesday. The normal onset date for monsoon over Kerala is June 1. “All the four regions are going to witness lesser than normal rainfall, this season. […]
OPPO F11 to be available on sale with exciting offers from 18th May
NEW DELHI: The Chinese smartphone brand Oppo has announced the sale of the OPPO F11 in India, starting 18th May. The smartphone comes equipped with ground breaking technology including VOOC flash charge 3.0 and 48MP + 5MP dual rear camera setup with ultra-night mode to support brilliant photos in low light. The F11 will be […]
Quit your job and we’ll help you start a business: Amazon to employees
NEW DELHI: Amazon, which is racing to deliver packages faster, is turning to its employees with a proposition: Quit your job and we’ll help you start a business delivering Amazon package. The offer, announced Monday, comes as Amazon seeks to speed up its shipping time from two days to one for its Prime members. The […]