Defence deal: Russia sanctions not at the expense of damaging allies says USA
NEW DELHI: In a guarded reaction, the United States of America (USA) on Friday said its intent to slap sanctions against Russia was not aimed at imposing damage to the military capabilities of its “allies or partners,” shortly after India concluded a deal for purchase of S-400 missile defence system from Russia. Stating that the […]
Rosneft slams Indian taxation system, calls it hurdle
NEW DELHI: Russian oil firm Rosneft, the biggest foreign investor in India’s energy sector, on Friday criticised the country’s taxation policy, saying it was a major hurdle in its expansion plans. Rosneft and its partners had in August last year completed a $12.9 billion acquisition of Essar Oil to enter the world’s fastest-growing energy market. […]
Satellite mapping being used to monitor illegal construction in Maharashtra
MUMBAI: The Maharashtra government informed the Bombay High Court on Thursday that it is using the satellite mapping technology to identify illegal constructions in major cities. Advocate General Ashutosh Kumbhakoni told a division bench of acting Chief Justice N H Patil and Justice G S Kulkarni that Geographic Information System (GIS) mapping, also called satellite […]
Salaries in India may rise 10% in 2019, highest in APAC: Study
NEW DELHI: Salaries in India are projected to increase by 10 per cent in 2019, the highest in the Asia Pacific region, according to a report. While noting that the salaries had risen by the same quantum in 2018, it attributed the high salary increments compared to other countries in the region to the steady […]
India plans Bharat-22 ETF listing on an overseas exchange
NEW DELHI: The government of India is planning to list Bharat-22 ETF on an overseas stock exchange to unlock its value and raise foreign capital. The government has already raised Rs 22,900 crore through two tranches of Bharat-22 Exchange Traded Fund (ETF) in the domestic markets. There have been some initial discussions on whether Bharat-22 […]
Tata Communications acquires Teleena
NEW DELHI: Tata Communications said that it has acquired Teleena, a Netherlands-based Internet of Things (IoT) connectivity specialist and mobile virtual network enabler (MVNE). The company’s technology reduces the operational complexity and cost of mobility and IoT deployments for businesses. Teleena’s solution is a key part of the Tata Communications’ MOVE platform, which enables enterprises […]
TCL Electronics sets up a manufacturing unit in Andhra Pradesh
NEW DELHI: TCL Electronics, a global top-three television brand and a leading consumer electronics company, has partnered with the Andhra Pradesh government to set up a brand-new manufacturing facility in Tirupati. An agreement regarding the partnership was signed last week in China between the respective representatives of the State IT & Electronics department and TCL. […]
Gayatri Projects receives Rs 1,312.00-crore road project in Maharashtra
NEW DELHI: Gayatri Projects Ltd on Wednesday said it has bagged a Rs 1,312.00 crore road project in Maharashtra. In a BSE filing Gayatri Projects said, the order is for construction of access controlled Nagpur-Mumbai super communication expressway (Maharashtra Samruddhi Maha Marg) in Maharashtra on engineering, procurement and construction (EPC) mode for package -11, from […]
Sun Pharma expects normalisation of India business in FY’19
NEW DELHI: Sun Pharma expects its India business to stabilise in the current fiscal leading to “reasonable volume growth” after witnessing disruptions in 2017-18 due to GST implementation, a top company official said. In a message to shareholders in the company’s Annual Report for 2017-18, Sun Pharma Managing Director Dilip Shanghvi however said the government’s […]
Innovations for festive sales help build capabilities for future: Flipkart
NEW DELHI: Flipkart has significantly expanded its infrastructure and delivery operations ahead of the festive sale, an investment that the Walmart-backed company believes will help further strengthen its capabilities in the long-term. Flipkart, which will host its Big Billion Days (BBD) sale from October 10-14 this year, has doubled its warehousing capacity and now has […]
Vatika group to invest Rs 8000 crore on township project at Gurugram
NEW DELHI: Realty firm Vatika group said that the company will invest about Rs 8,000 crore to develop a 224-acre township project in Gurugram over the next seven years. The company will develop 15,000 housing units and 6.5 million sq ft of commercial space in this township project ‘Vatika India NEXT2’. The units to be […]
Nisus Finance to invest Rs 500 crore in stressed realty projects over next three years
NEW DELHI: Real estate-focused private equity fund Nisus Finance is planning to raise around Rs 700 crore from domestic investors, and invest Rs 500 crore out of that in stressed realty assets over the next three years, a top executive said. The company has also identified projects across Mumbai, Noida, Bengaluru and Pune to begin […]
IBBI needs to have more powers, says NCLAT Chairperson
NEW DELHI: The Insolvency and Bankruptcy Board needs to be given more powers, NCLAT Chairperson Justice Sudhansu Jyoti Mukhopadhaya said on Monday and also suggested that there should be regulations for the Committee of Creditors (CoC). The number of cases coming up for resolution under the Insolvency and Bankruptcy Code (IBC) is on the rise, […]
Petrol crosses Rs 91 mark, LPG above Rs 500
NEW DELHI: Petrol price on Monday crossed the Rs 91-mark in Mumbai while domestic cooking gas LPG rates breached the Rs 500-level for the first time ever as oil at four-year high pushed fuel prices to new all-time high across the country. Petrol prices were hiked by 24 paise per litre and diesel by 30 […]
Narendra Modi inaugurates modern food processing facilities in Anand
NEW DELHI: The Prime Minister of India Narendra Modi, inaugurated modern food processing facilities, including Amul’s ultra-modern Chocolate Plant, at Anand today. He also visited the chocolate plant and was briefed on the various technologies used, and products being made there. Speaking on the occasion, he thanked the people of Anand for turning out in […]
E-commerce companies will have to register in every state for collecting TCS
NEW DELHI: E-commerce operators will have to register themselves in every state where their suppliers are located for collection of tax collected at source (TCS) and foreign companies can appoint an ‘agent’ on their behalf for securing such registration, the Central Board of Indirect Taxes and Customs (CBIC) has said. From October 1, e-commerce companies […]