OYO expands international presence, forays into Indonesia
NEW DELHI: Hospitality firm OYO has forayed into Indonesia. The company will also invest over $100 million in the country as part of its expansion in Southeast Asia. Starting operations with over 30 exclusive hotels and more than 1,000 rooms in three cities — Jakarta, Surabaya and Palembang — the company is ready to offer […]
Samsung launches Galaxy Tab S4 for Rs 57,900
NEW DELHI: Electronics major Samsung India expects to double its market share in premium tablet PC category in the country by December this year, a senior company official said on Thursday. “We have launched Galaxy Tab S4 in premium category because we want to bridge the gap between work and productivity.We are planning to double […]
Air India gets Rs 1,000 crore from National Small Savings Fund
NEW DELHI: Cash-strapped Air India Ltd has raised Rs 1,000 crore from the National Small Savings Fund and expects to mop up Rs 500 crore through short-term borrowings next week, an official at the airline said, on condition of anonymity. Air India will use the funds to mainly meet its working capital requirements. The fresh […]
NTPC to raise $150 million in foreign currency loan
NEW DELHI: NTPC Ltd, India’s largest electricity producer, plans to raise USD 150 million in foreign currency term loan to finance its capital expenditure, according to a company document. NTPC Thursday invited offers for arranging of a term loan in Japanese yen for an aggregate amount of USD 150 million equivalent with a green shoe […]
Over 60,000 Indians received Green cards in 2017: DHS
By Lalit K Jha WASHINGTON : Out of the over 600,000 Indians waiting for the most sought-after Green Card, only 60,394 have received the legal permanent residency last year which allows them to live and work in the United States of America (USA), according to the latest official figures. Under the current regulation, skilled immigrants […]
No plans to scale down steel production target: India
NEW DELHI: The government of India has no plans to scale down its target for steel production unlike other countries as consumption of the alloy in India is growing slower than expected, Union Minister Birender Singh said on Thursday. “…as far as China is concerned they reduction is 112 million tonnes (MT)….We are on a […]
India presses OPEC for responsible pricing of oil
NEW DELHI: India, the world’s third-biggest oil consumer, on Wednesday pressed Organization of the Petroleum Exporting Countries (OPEC) to move to responsible pricing of oil and gas saying the recent spike in rates are far detached from market fundamentals and are hurting importing nations. A combination of crude oil climbing to four-year high and rupee […]
PNB fraud: ED attaches over Rs 218 crore assets of Mehul Choksi, others
NEW DELHI: The Enforcement Directorate (ED) on Wednesday seized assets worth over Rs 218 crore, including diamonds and flats abroad, in the nearly Rs 13,000 crore loan fraud case probe, the agency said. It said three provisional orders under the Prevention of Money Laundering Act (PMLA) were issued by the central investigative agency’s zonal office […]
Reliance Industries posts record Rs 9,516 crore profit in Q2
NEW DELHI: Mukesh Ambani- led Reliance Industries Limited (RIL) on Wednesday reported its highest ever quarterly net profit of Rs 9,516 crore, a 17.4 per cent rise year-on-year, for the July-September period. The company reported a net profit of Rs 8,109 crore in the corresponding quarter of last fiscal. Its net profit stood at Rs […]
Reliance Jio reports Q2 net profit of Rs 681 crore; subscriber base crosses 250 million
NEW DELHI: Mukesh Ambani- owned Reliance Jio reported a standalone net profit of Rs.681 crore for the second quarter ended 30 September 2018.The company had posted a net loss of Rs 271 crore in the year-ago period. On the other hand, Jio reported an average revenue per user (ARPU) declined to Rs. 131.7 from Rs. 134.5. […]
Jet Airways receives its fifth Boeing 737 MAX
NEW DELHI: Jet Airways has received its fifth Boeing 737 MAX, as part of its fleet modernization plan in line with its commitment to offer its guests a considerably superior and differentiated flying experience. Since the induction of the airline’s maiden 737MAX (registered as VT-JXA) on 28th June, 2018, another four _ have joined its […]
Olialia World launches its much-awaited Vazir Pan Masala in India
NEW DELHI: FMCG brand Olialia World said that it has launched its much-awaited Vazir Pan Masala in India today. Olialia Chairperson and Global Brand Ambassador Anca Verma has rolled out officially after savouring the taste of the first batch of “Olialia Vazir Pan Masala” three days ahead of its commercial rollout on Dusshera on 19th […]
NBCC signs MoU with Ministry of External Affairs to build Convention Centres in Niger
NEW DELHI: State-owned PSU, NBCC (India) that it has signed an Memorandum of Understanding (MoU) with the Ministry of External Affairs (MEA) to construct Mahatma Gandhi International convention centre (MGICC) at Niamey, the largest city and capital of Niger in West Africa. The MoU was signed by Yogesh Sharma, Executive Director, Business Development and Prashant […]
Savills expands its presence in India
NEW DELHI: International real estate advisor Savills today announced the planned expansion of its Indian business into a full-service platform. The expanded Savills India business will be led by new CEO, Anurag Mathur, and will initally operate from offices in New Delhi, Bangalore, Hyderabad and Mumbai with a focus on delivering the best real estate […]
MG Motor to drive in electric SUV in India by first half of 2020
NEW DELHI: MG Motor India, a wholly-owned arm of China’s SAIC Motor Corp, will roll out a locally manufactured pure-electric SUV by first half of 2020, within one year of its first product launch in the country, a top company official said on Monday. The company is all set to drive in its first product, […]
PNB plans to sell non-core assets of over Rs 8,000 crore this fiscal
NEW DELHI: The India’s second largest public sector lender Punjab National Bank (PNB) has identified various assets, including its housing finance arm, for sale and hopes to realise ₹8,600 crore from these non-core assets during the current fiscal. The bank has already sold some of the fixed assets and have realised ₹400 crore from these […]