NEW DELHI/MUMBAI: State Bank of India (SBI)on Monday invited bids for stake sale in ailing Jet Airways. SBI, which is the lead lender of a consortium of domestic lenders that has extended loans to Jet Airways, is looking for “change in control and management” of the carrier, according to a public notice. SBI Capital Markets […]
NEW DELHI: Eyeing another stint in power, the BJP on Monday made a string of promises, including expeditious construction of a Ram temple, a firm hand in dealing with terrorism and doubling farmers income in the next three years. The party also promised to make India the third largest economy globally by 2030 and scrap […]
NEW DELHI: Calling the BJP’s manifesto for the upcoming Lok Sabha polls a “vision document”, head of the party’s manifesto committee Rajnath Singh on Monday said the government led by Prime Minister Narendra Modi was fully committed on nationalism and zero tolerance towards terrorism. The BJP manifesto was released by Modi on Monday in the […]
NEW DELHI: Kotak Mahindra Bank limited through its subsidiary, Kotak Mahindra Prime Ltd., has announced debt investment of Rs. 500 crore with India’s leading Delhi based realtor firm, Gaurs Group. The debt investment will be used by the realty major to pace up construction work at Gaur City II, part of integrated township Gaur City […]
NEW DELHI: Dutch investigators have arrested three former employees of a local firm suspected of laundering USD 1.2 billion through over-invoicing services and works rendered for a gas pipeline built by a unit controlled by billionaire Mukesh Ambani, a charge vehemently denied by Reliance Industries Limited (RIL). East West Pipeline Ltd (EWPL), which was previously […]
NEW DELHI: The Reserve Bank of India (RBI)on Thursday lowered the GDP growth forecast for the current fiscal to 7.2 per cent from the earlier estimate of 7.4 per cent amid probability of El Nino effects on monsoon rains and uncertain global economic outlook. In its February monetary policy statement, the central bank had projected […]
MUMBAI: The Reserve Bank of India (RBI) on Thursday cut the retail inflation forecast to 2.9-3 per cent for the first half of current fiscal, mainly due to lower food and fuel prices as well as expectation of a normal rainy season. The RBI has reduced the key policy rate by 25 basis points to […]
MUMBAI: The Reserve Bank of India (RBI) on Thursday cut benchmark interest rate by 0.25 per cent for the second time in a row to bring interest rate to the lowest level in one year on softening inflation. The central bank, however, kept monetary policy stance at ‘neutral’. In the second policy review under Governor […]
NEW DELHI: Haptik has entered a strategic partnership with Reliance Industries, through its subsidiary Reliance Jio Digital Services Ltd.. The total transaction size, including primary capital investment, is about 700 crore (~100 million USD), with 230 crore as the consideration for the initial business transfer from Haptik to Jio. The Haptik team will continue to […]
NEW DELHI: Cash-strapped Jet Airways is operating 28 planes, including 15 aircraft in the domestic routes, Civil Aviation Secretary Pradeep Singh Kharola said on Wednesday. Earlier in the day, Kharola said that less than 15 planes of the airline were flying. Jet Airways, where the lenders are set to take control as part of a […]
NEW DELHI: With efficient initiatives of Corporate Social Responsibility (CSR), Olialia World Chairperson Anca Verma won Industrialist of the year CSR Leadership Summit Award on CSR day at PHD Chamber of Commerce and Industry auditorium Delhi on 1st April New Delhi. Mrs Verma is the Chairperson of ‘Olialia World’ which is a US$ 2 billion […]
NEW DELHI: Monsoon rains may be “below normal” this year, Skymet, a private weather forecasting agency, said on Wednesday. The monsoon is likely to be 93 per cent of the long period average (LPA), it said. Anything between 90-95 per cent of LPA falls under the “below normal” category. LPA is the average of rainfall […]
NEW DELHI: Cash-starved Jet Airways on Wednesday deferred the March salary payment to its employees, citing “complexities” involved in the finalisation of the debt-recast plan, under which the SBI-led consortium of lenders has taken over the management control of the airline. Earlier, the airline had been delaying the salaries of its pilots, engineers and senior […]
NEW DELHI: The US has approved the sale of 24 multi-role MH-60 ‘Romeo’ Seahawk helicopters to India at an estimated cost of USD 2.6 billion, the State Department has said India has been in need of these formidable anti-submarine hunter helicopters for more than a decade now. Designed for hunting submarines as well as knocking […]
NEW DELHI: The Department of Telecommunications (DoT) will move the Election Commission(EC) to seek its approval for floating a cabinet note on a VRS package for BSNL employees, an official source said. The person in the know of the developments said that the DoT would also seek the poll panel’s approval for a cabinet note […]
NEW DELHI:Civil Aviation Minister Suresh Prabhu on Wednesday ruled out any interference in efforts to help cash-strapped Jet Airways, saying that the government should not be seen to be doing any kind of deals to help an airline. Against the backdrop of lenders set to take control of Jet Airways under a debt resolution plan, […]
