Alok Verma resumes office after 77-day forced leave
NEW DELHI: CBI Director Alok Verma joined office on Wednesday, 77 days after he was sent on forced leave by the central government through a much-criticised late-night order on October 23, 2018, which was set aside by the Supreme Court of India. The October order sent Verma and his deputy Special Director Rakesh Asthana, booked […]
IPL to stay in India but to have March start this year
NEW DELHI: The Indian Premier League (IPL) will stay in the country despite a speculated clash of dates with the general elections but the glitzy T20 extravaganza will start earlier than usual, from March 23, the Committee of Administrators announced on Tuesday. The two-member CoA, comprising chairman Vinod Rai and former women’s captain Diana Edulji, […]
Saya Homes to invest Rs 450 crore on high-street retail project in Greater Noida
NEW DELHI: Ghaziabad-based realty firm Saya Homes said it will invest RS 450 crore in its first retail project at Greater Noida. The project ‘Saya South X’ would be primarily a high street retail development on a total plot area of 12,000 square metre with a saleable area of 6.85 lakh sq ft, the Ghaziabad-based […]
Honor 10 Lite is all set for a Flipkart Exclusive launch in India
NEW DELHI: Honor, the leading smartphone e-brand under the Huawei Group, today announced the brand’s upcoming smartphone – Honor 10 Lite, will be exclusively available on Flipkart. The company has scheduled an event on 15th Jan, 2019 in New Delhi where it will unveil the latest product for the Indian market. Honor has been one […]
Securitisation volumes at all-time high of Rs 1.44 trillion in April to December
NEW DELHI: The securitisation market volumes in the country touched a life-time high of Rs 1.44 trillion in the nine months of the current fiscal, with around Rs 78,000 crore generated in the third quarter, says a report. The securitisation market remained buoyant in the third quarter driven by the prevailing liquidity crisis, following defaults […]
India plans to sanction one crore houses before 2020
NEW DELHI: India’s Housing and Urban Affairs Ministry initiated several schemes in 2018 and plans to sanction construction of one crore houses before 2020 under the Pradhan Mantri Awas Yojana (urban), a move aimed at ensuring ‘housing for all by 2022’. The ministry is mandated to implement a number of flagship programmes – Swachh Bharat Mission, […]
Home prices eased in last 5 years despite better housing credit growth: RBI
NEW DELHI: Despite higher housing credit growth and better bank lending rates, house prices in the country have been cooling in the last five years, a Reserve Bank of India (RBI) report said. According to the Financial Stability Report released by the RBI Monday, the all-India housing price index reduced to 5.3 per cent during […]
Reliance, BP get key ship on KG-D6 for expediting gas output
NEW DELHI: Reliance Industries Limited (RIL) and its partner BP plc of the UK have brought a deepsea pipeline laying ship to their Bay of Bengal block KG-D6 to help bring newer gas finds to production by 2020-21, the British firm said. Reliance-BP are targeting to bring to production the R-Series and satellite fields in […]
IndiGo gets its first longer range A321neo plane
MUMBAI: Budget carrier IndiGo has become the first domestic airline to have longer range Airbus A321neo plane in its fleet with the first aircraft arriving Saturday morning in New Delhi from the European aviation major Airbus’ Hamburg facility in Germany, an airline source said. The maiden A321neo (new engine option), VT-IUA, landed at 9.06 am […]
Jet Airways in talks with SBI for Rs 1,500 crore loan
NEW DELHI: Loss-making carrier Jet Airways is in discussions with the State Bank of India for raising Rs 1,500 crore short-term loan to meet its working capital requirement and some payment obligations, a source said. Jet Airways strategic partner and Middle-east carrier Etihad, which holds 24 % stake in the Indian full service carrier, is […]
Restrictions on foreign e-commerce companies to hit FDI in India: US industry body
WASHINGTON: Expressing concern over India tightening restrictions on foreign e-commerce companies operating in the country, leading American industry advocacy groups have said that such a move would have a long-term negative impact on the foreign direct investment as well as consumers. Earlier this week, the government announced changes to the foreign direct investment policy for […]
Navy divers get into rescue action at Meghalaya mine disaster site
SHILLONG: A group of Indian Navy divers arrived from Vishakhapatnam on Saturday to join operations underway to rescue 15 miners trapped in a flooded rat-hole coal mine in Meghalaya since December 13, a senior official said. The 15-member team, equipped with specialised diving equipment including a re-compression chamber and remotely operated vehicles capable of searching […]
Nirav Modi located in UK, British authorities inform India
NEW DELHI: British authorities have informed India that bank fraud fugitive Nirav Modi is living in the UK, the government has said. Replying to a question, Minister of State for External Affairs V.K. Singh told Rajya Sabha that National Central Bureau of Manchester conveyed to Indian agencies that their investigations have led to the location […]
Traffic soared on low fares as airlines bled on high fuel prices
NEW DELHI: Even as strong headwinds — soaring jet fuel prices and low yields — induced financial turbulence, the country’s civil aviation sector maintained robust traffic growth rate during 2018. The double-whammy of high fuel cost and low fares necessitated by extreme competition magnified as the rupee depreciated and interest-rates remained high. On an average, […]
Telugu film star Mahesh Babu’s bank accounts frozen over tax dues
NEW DELHI: The Goods and Services Tax (GST) department on Thursday said it has attached the bank accounts of Telugu superstar Mahesh Babu to recover service tax dues from him. According to a press release issued by the Hyderabad GST Commissionarate, Mahesh Babu has not paid the Service Tax during 2007-08 for the taxable services he rendered […]
Inspection of six companies linked to ICICI Bank controversy at ‘advanced stage’: Report
NEW DELHI: The Corporate Affairs Ministry’s inspection of the books of six companies linked to the ICICI Bank controversy is at an “advanced stage”, according to a senior official. On April 23, the ministry ordered inspection of six companies, including NuPower Renewables. There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and […]