Indian Rupee registers biggest single-day gain in 5 years to close at 72.45
NEW DELHI: The Indian rupee on Friday clocked its biggest single-day gain in over five years, surging by 100 paise to close at 72.45 against the US dollar on easing crude oil prices and possibility that the US might grant waivers to India from sanctions on Iranian oil imports. Besides, a bullish trend in the […]
FPI outflow hits 2 year high in October; total withdrawal crosses Rs 1 trillion mark in 2018
NEW DELHI: Overseas investors pulled out a massive Rs 38,900 crore (over $5 billion) from the capital markets in October, the steepest outflow in nearly two years, on rising crude oil prices, depreciating rupee and worsening current account deficit. With this, the total outflow from the capital markets (equity and debt together) has reached over […]
Mukesh Ambani sets up Estonian JV for e-governance; takes up e-residency
TALLINN/MUMBAI: Industrialist Mukesh Ambani is keen on the e-governance space and has set up a subsidiary company in Estonia to get a grip on the solutions, government officials of the Northwestern European nation have said. Ambani has formed a subsidiary with the Estonian government’s former chief information officer Taavi Kotka. The joint venture will be […]
Delhi High Court directs e-commerce site Darveys to ensure products for sale on portal are not counterfeits
NEW DELHI: In a step towards ensuring counterfeits of popular branded products are not sold on online marketplaces, the Delhi High Court has directed an e-commerce platform to make sure that each item put up for sale on its site is genuine. Justice Pratibha M Singh issued the direction, saying in the world of e-commerce, […]
Forex reserves down by $1.4 billion to $392 billion due to fall in foreign currency assets
NEW DELHI: Continuing its decline, the country’s foreign exchange reserves slumped by $1.444 billion to $392.078 billion in the week to October 26 due to a fall in foreign currency assets, according to Reserve Bank of India (RBI) data. In the previous week, the reserves had declined by $942 million to $393.523 billion. In the […]
NPPA fixes retail price of 68 drug formulations
NEW DELHI: Drug price regulator National Pharmaceutical Pricing Authority (NPPA) on Friday fixed prices as well as revised ceiling and retail prices of 68 formulations, including those used for treatment of diabetes, blood pressure and HIV. The National Pharmaceutical Pricing Authority (NPPA) said while the retail price of 55 scheduled formulations has been fixed, that […]
Global factors, rupee, oil to drive stock markets this week: Experts
NEW DELHI: Trend from global equities, macroeconomic data as well as movement of the rupee and crude oil prices will set the tone for the stock markets in the holiday-shortened week ahead, say experts. Bourses would remain closed on Wednesday and Thursday for ‘Diwali Laxmi Pujan’ and ‘Diwali Balipratipada’. The BSE and NSE will conduct […]
Gold prices rise to six-year high on festival season demand in India
NEW DELHI: Gold strengthened for the sixth straight week and gathered further grounds to hit an almost six-year high of Rs 32,780 and ended at Rs 32,650 per 10 gram at the bullion market, amid pick-up in buying activity ahead of Diwali in India. Silver, however, lacked necessary buying support and shed some grounds. Bullion […]
Q2 results: ONGC profit rises 61%, beats estimates
NEW DELHI: Oil and Natural Gas Corp Ltd posted a 61% jump in second-quarter profit on Saturday, with higher crude oil prices helping it to beat forecasts. ONGC’s net profit stood at Rs 8,265 crore in the quarter ended 30 September, compared with Rs 5,130 crore a year earlier, the company said in a stock […]
Ikea to create 10,000 jobs in Maharashtra over next 3 years
MUMBAI: Swedish furniture giant Ikea is planning to hire 10,000, both direct and indirect, in Maharashtra over the next two to three years, a senior company executive has said. The company opened its first store in Hyderabad in August this year and the Navi Mumbai will be the second store in the country. “Next year, […]
PNB Housing Finance raises Rs 2,450 crore through commercial papers
NEW DELHI: PNB Housing Finance said on Wednesday it has raised Rs 2,450 crore through commercial papers (CP) amidst reports of tight liquidity situation in the market. This is in addition to Rs 1,775 crore raised earlier in October totalling to Rs 4,225 crore of CPs raised in October 2018, the mortgage firm said in […]
GST collections cross Rs 1 lakh crore in October
NEW DELHI: GST collections in October have crossed the Rs 1 lakh crore mark, Finance Minister Arun Jaitley said on Thursday. The revenue from goods and services tax (GST) in September was Rs 94,442 crore. GST mop-up had crossed the Rs 1 lakh crore mark for the first time in April and since then it […]
Invest India, WhatsApp partner to empower Indian entrepreneurs and start-ups
NEW DELHI:Invest India through its flagship initiative Startup India has partnered with WhatsApp on a program that focuses on the proliferation of start-ups, promoting economic growth and generating employment opportunities in India. Dedicated to driving success and enhancing grassroots innovation, WhatsApp will invest quarter of a million dollars as seed funding to the top 5 […]
Google fired 48 employees for sexual misconduct: Sundar Pichai
NEW YORK: Google fired 48 employees, including 13 senior managers, over sexual harassment claims since 2016, CEO Sundar Pichai has revealed, asserting that the tech giant was taking an “increasingly hard line” on “inappropriate conduct” by people in positions of authority. In a letter to employees, the Indian-American chief executive officer said Google was “dead […]
What Ambani said about Reliance Jio at India Mobile Congress: Full speech
Full text of Reliance Industries Ltd (RIL) chairman Mukesh Ambani’s speech at India Mobile Congress: Honourable Minister Shri Ravi Shankar Prasadji, Shri Manoj Sinhaji, Ladies and Gentlemen, A very warm good morning. Dear Friends, Today, we are living in an India of unprecedented hope and promise… …An India that is poised to embrace an immensely […]
Tata Motors’ JLR opens $1.6 billion manufacturing plant in Slovakia
NEW DELHI: Tata Motors-owned Jaguar Land Rover (JLR) on Thursday announced the opening of its new state-of-the-art $1.6 billion manufacturing facility in Slovakia, a first for a British automotive brand setting up in the central European country. JLR said its investment is expected to lead to an annual production of 100,000 cars at the new […]