India again extends deadline to impose high import duties on 29 USA products till November 2

NEW DELHI: The government of India , for the second time, has extended the deadline for the imposition of higher customs duties on 29 products, including almond, walnut and pulses, imported from theUnited States of America (USA), till November 2. In June, India decided to impose retaliatory tariffs from August 4. But it was extended […]

DAC approves procurement of equipment worth Rs 9,100 crores

NEW DELHI: The Defence Acquisition Council (DAC), chaired by Raksha Mantri (Defence Minister ) Nirmala Sitharaman, met here today and accorded approval for the procurement of equipment for the Defence Forces valued at over Rs 9,100 crores. Pursuing the goal of indigenisation and self-reliance, the DAC approved procurement of two Regiments of Akash Missile Systems […]

Reliance Communications to exit telecom fully to focus on real estate: Anil Ambani

MUMBAI: Billionaire Anil Ambani on Tuesday announced that the cash-strapped Reliance Communications (RCom) will be completely exiting the telecom business to concentrate on real estate in future. The first priority for RCom, which is credited for democratising telecom services through cheaper offers in early 2000s, is to resolve its over Rs 40,000 crore debt, he […]

Another independent director of Jaypee Infratech resigns; fourth in last one week

NEW DELHI: Jaypee Infratech, which is facing insolvency proceedings, on Monday said that the company’s independent director Sham Lal Mohan has resigned citing personal reasons. Last week, three independent directors Lalit Bhasin, Keshav Prasad Rau and Basant Kumar Goswami had resigned from the board. Goswami resigned because of his growing age and indifferent health, and […]

Dalmia Cement aims to be carbon negative by 2040: Group CEO

NEW DELHI: Reducing transition risks and creating transition opportunities are the top priorities; emissions and energy intensities directly impact the operating costs and India’s Dalmia Cement aims to be carbon negative by 2040, says its Group CEO, Mahendra Singhi. “We are creating opportunities to abate costs by investing in low carbon technologies and processes,” Singhi […]

Bombay High Court ‘shocked’ over illegal constructions by Nirav Modi, others in Alibaug

MUMBAI: The Bombay High Court said on Monday it was “shocking” how fugitive jeweller Nirav Modi and several other individuals had been permitted to carry out illegal constructions along the beach in Alibaug town of Raigad district in Maharashtra. Holding that ignoring such violations was a case of “complete non-application of mind” by the authorities, […]

Congress accuses Modi government of favouring Adani in coal import case

NEW DELHI:Accusing the Narendra Modi government of promoting crony capitalism, the Congress on Monday asked it to come clean by appointing a special counsel in the Bombay High Court in a case of alleged over-invoicing of coal imports by industrialist Gautam Adani-led group. Congress spokesperson Jairam Ramesh also alleged that the Gujarat government has accepted […]

Jammu and Kashmir government approves Single Window Act, 2018

SRINAGAR: The Jammu and Kashmir government on Monday approved J&K Single Window (Industrial Investment and Business Facilitation) Act, 2018, which aims to ease flow of investments into the state. “The governor’s administration approved the J&K Single Window Act, 2018. The act has been approved by the state administrative council (SAC), headed by governor Satya Pal […]

Sensex crashes 505 points on rupee woes, global worries

NEW DELHI: After rallying for two sessions, the BSE benchmark Sensex Monday tumbled over 505 points to slip below the 38,000-level as worries about global trade war and prevailing rupee crisis dampened investors mood despite the government announcing steps to stem a steep fall in the Indian currency. The broader Nifty too nosedived over 137 […]

Germany rolls out world’s first hydrogen train

BREMERVORDE: Germany on Monday rolled out the world’s first hydrogen-powered train, signalling the start of a push to challenge the might of polluting diesel trains with costlier but more eco-friendly technology. Two bright blue Coradia iLint trains, built by French TGV-maker Alstom, began running a 100-kilometre route between the towns and cities of Cuxhaven, Bremerhaven, […]

Sterlite Tech aims 10% global fibre market share by June 2020

NEW DELHI: Broadband technology provider Sterlite Tech is looking at commanding 10 per cent share of the global fibre market by June 2020, company’s chief executive Anand Agarwal said Monday. The company is also focussed on enhancing production capacity of optical fibre and optical fibre cables. “We are now looking to move fibre market share […]

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