Dassault Aviation welcomes Supreme Court ruling on Rafale deal
NEW DELHI: The Dassault Aviation on Friday welcomed the Supreme Court of India’s ruling on the Rafale fighter jet deal, rejecting demands for any probe into the multi-billion dollar contract. “Dassault Aviation welcomes the decision of the Supreme Court of India rendered today dismissing all petitions filed on the Rafale Contract signed on September 23, […]
Rahul Gandhi targets Narenmdra Modi government after Supreme Court’s Rafale verdict
NEW DELHI: Notwithstanding the Supreme Court’s verdict on the Rafale deal, Congress president Rahul Gandhi on Friday maintained that there was massive corruption in the contract and wondered why the Comptroller and Auditor General of India (CAG) report “cited by the Supreme Court of India” on it had not yet been shared with the public […]
Arun Jaitley says government respects autonomy, independence of RBI
NEW DELHI: Finance minister Arun Jaitley on Friday said the government respects the autonomy and independence of the Reserve Bank of India (RBI) and raising credit and liquidity issues do not infringe on the central bank’s autonomy. “If the sovereign government is pointing out that there are credit and liquidity issues in the country, how […]
IL&FS group selling luxury cars, office furniture to raise funds
NEW DELHI: Debt-laden IL&FS group firms are selling high-end cars, office furniture, electrical appliances and other assets in a bid to raise funds. The Infrastructure Leasing & Financial Services (IL&FS) and its various group firms have invited bids to sell 36 luxury cars, including brands like Audi, BMW, Jaguar, Mercedes Benz, Land Rover, Honda, Toyota […]
SBI orders forensic audit of Jet Airways’ books
NEW DELHI: India’s largest lender, State Bank of India (SBI), has ordered a forensic audit of Jet Airways’ books for the period between April 2014 and March 2018, according to sources. SBI, the lead banker to the airline’s over Rs 8,000 crore loans, has mandated EY to conduct the forensic audit of its books, which […]
Exports up 0.8% in November; trade deficit widens to $16.6 billion
NEW DELHI: India’s exports grew by 0.80% to $26.5 billion in November, according to commerce ministry data. Imports rose by 4.31% to $43.17 billion during the month, leading to widening of the trade deficit to $16.67 billion. The deficit widened despite a steep decline of 15.6% in gold imports to $2.75 billion during the month […]
High LPG refill cost choking Ujjwala scheme
BHUBANESWAR: The Odisha government has blamed high cost of cooking gas behind the tepid response of Pradhan Mantri Ujjwala Yojana (PMUY) in the state, a charge refuted by the Centre. PMUY is the flagship scheme of the Ministry of Petroleum & Natural Gas for providing LPG connections to women from Below Poverty Line (BPL) households. […]
Insurance policyholders to get SMS on receipt of premium from 2019
NEW DELHI: Insurance sector regulator Irdai has asked all the insurers to inform policyholders through messages on receipt of premium from 1 January, aimed at protecting the interest of consumers. The Insurance Regulatory and Development Authority of India (Irdai) said the order is being issued to enhance the policyholder protection and information. Wherever the mobile […]
RBI slaps Rs 1 crore fine on Indian Bank for violating cyber security norms
NEW DELHI: The Reserve Bank of India (RBI) on Tuesday said it has imposed a fine of Rs 1 crore on Indian Bank for violating cyber security norms. The RBI has imposed, by an order dated November 30, 2018, a monetary penalty of Rs 10 million on Indian Bank for contravention of Circular on Cyber […]
Connaught Place sixth most expensive office market in Asia Pacific: JLL
MUMBAI: Connaught Place in New Delhi has emerged as the sixth costliest, in terms of lease rentals, out of 20 major markets in Asia Pacific region, showed data from international property consultant JLL. The average occupancy costs – including rent, taxes and service charges – in Connaught Place are at $142, which is higher than […]
Construction sector may need 2.5 lakh drone operators soon
NEW DELHI: The construction sector is the fastest-growing adopter of commercial drones, and is likely to require 2.5 lakh people with UAV (unmanned aerial vehicle) operating skills in the coming years, a report said. Highways, roads, bridges and housing will take the lead in the usage of drones, the ECI-PwC report ‘Flying high: Drones to […]
Implementation of act for welfare of construction workers ‘complete flop’ in Mumbai
NEW DELHI: The Supreme Court of India on Thursday said it was “shocking” that out of about 70,000 registered building and construction workers in Mumbai, only 11,000 have got the benefit of an act meant for their welfare and its implementation was a “complete flop”. The court was informed by the counsel appearing for Maharashtra […]
Isha Ambani-Anand Piramal wedding to cost $100 million
NEW DELHI: India is preparing for what could be one of the world’s most expensive weddings ever, a spectacle that could even put the fictional nuptials in “ Crazy Rich Asians” to shame. On Dec. 12, Asia’s richest man — oil-and-telecom tycoon Mukesh Ambani — is scheduled to give away his daughter Isha to billionaire […]
Maharashtra to raze Nirav Modi’s illegal bungalow in Alibaug
MUMBAI: The Maharashtra government told the Bombay High Court that it had ordered demolition of fugitive jeweller Nirav Modi’s illegal bungalow built along the beach at Alibaug in adjoining Raigad district. Government counsel advocate P B Kakade also told a bench of Chief Justice Naresh Patil and Justice M S Karnik that it had served […]
Now you have to pay Rs 200 to see the main mausoleum at the Tajmahal
NEW DELHI: Those wanting to see the main mausoleum at the Taj Mahal will need to buy an additional ticket of Rs 200 from Monday. Vasant Swarnakar, Archaeological Survey of India’s chief archaeologist in Agra, said domestic visitors will have to pay Rs 250 and foreign visitors Rs 1,300 to see the main mausoleum at […]
LIC, GIC show interest in buying Air India building in Mumbai
MUMBAI: Even as the government is yet to take a call on putting the 23-storeyed Air India building in the tony Nariman Point business hub of south Mumbai on the block, many PSUs such as LIC and GIC have evinced interest in the prime property, a senior airline official said on Friday. It can be […]