NEW DELHI: Realty firm Godrej Properties has reduced its net debt by 51 per cent in last one year to Rs 1,539 crore mainly with the help of better sales bookings. The net debt of Gordej Properties — the real estate arm of Godrej group — stood at Rs 1,539 crore as on September 30, […]
NEW DELHI: Domestic passenger vehicle sales rose 1.55% to 2,84,224 units in October, against 2,79,877 units in the same month last year. Car sales grew marginally by 0.38% to 1,85,400 units last month, compared with 1,84,706 units in October last year, according to data released by the Society of Indian Automobile Manufacturers (SIAM) Friday. Motorcycle […]
WASHINGTON: The Donald Trump administration wants to make changes in the existing H-1B provisions for it to play a better role in attracting highly skilled foreign workers as opposed to what it has now evolved into an “outsourcing” role, the White House said. “The president’s overall instinct – and he said this publicly a number […]
NEW DELHI: The chaired by the Prime Minister of India Narendra Modi has approved the leasing out of six airports — Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram and Mangaluru — for operation, management and development under the Public Private Partnership (PPP). “In-principle” approval for leasing out six airports of AAI viz. Ahmedabad, Jaipur, Lucknow, Guwahati, Thiruvananthapuram […]
SHIMLA: Himachal Pradesh Chief Minister Jai Ram Thakur on Thursday requested Civil Aviation Minister Suresh Prabhu to expedite the implementation of the second step of the Centre’s regional connectivity scheme UDAN-2, aimed at addressing the problem of poor air links to difficult areas across the country. The chief minister made the request in a meeting […]
NEW YORK: Look out, Amazon: Walmart is coming to steal your lunch —and maybe dinner too. The world’s largest retailer has surpassed the e-commerce giant in a survey of online food shoppers, more of whom said they most recently visited Walmart’s site for groceries. Local supermarkets were in third place, fuelled in part by logistics […]
NEW DELHI: Public sector Allahabad Bank said the government had infused Rs 3,054 crore into the state-run lender. “In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that the bank has received a communication from the Government of India, Ministry of Finance, Department of Financial Services regarding fresh […]
NEW DELHI: After three months of decline, short-term power prices increased in September, mainly driven by higher demand and lower generation from renewables, said India Ratings and Research (Ind-Ra) in its report on Tuesday. Ind-Ra in its October edition of credit news digest on India’s power sector highlighted the trends in the sector, with a […]
NEW DELHI: The Competition Commission of India (CCI) has rejected allegations of price fixing against app-based taxi service providers Ola and Uber, saying drivers acceding to “algorithmically determined prices” by the platforms did not amount to collusion between them. In a 13-page order, the CCI also dismissed complaints that Ola and Uber were imposing a […]
WASHINGTON: The United States of America (USA) has exempted India from the imposition of certain sanctions for the development of the strategically-located Chabahar port in Iran, along with the construction of the railway line connecting it with Afghanistan. The decision by the Trump administration, which a day earlier imposed the toughest ever sanctions on Iran […]
NEW DELHI: Fair trade watchdog CCI has concluded that the business practices of Flipkart and Amazon are not in violation of competition norms and rejected allegations of abuse of market dominance made by a grouping of online vendors. Amid concerns expressed in various quarters about alleged unfair business ways in the fast-growing online market place, […]
NEW DELHI: Indian economy will expand 7.4 per cent in 2018, but the growth will slow down to 7.3 per cent in the next year as domestic demand tapers on higher borrowing cost due to rising interest rates, Moody’s Investors Service said on Thursday. In its report titled Global Macro Outlook 2019-20′, Moody’s said the […]
TOKYO: Toshiba Corp is liquidating its British nuclear power unit and selling its US liquefied natural gas (LNG) business, as the once-mighty industrial conglomerate seeks to unload troubled assets and regain investors’ confidence. The plans are part of a new five-year business strategy Toshiba announced on Thursday, which also included 7,000 job cuts, or 5% […]
The wind changed again in a stormy oil market as Organization of Petroleum Exporting Countries (OPEC) signaled it will consider a return to cutting output next year, potentially making the second production U-turn this year. Amid a summer of rising prices and unprecedented political pressure from President Donald Trump, Saudi Arabia, Russia and other producers […]
NEW DELHI: India’s bullet train project is moving at the pace of a commuter train instead. A year after the project was kicked off, only 0.9 hectares of land have been acquired out of the 1,400 hectares needed, according to the Indian government company leading the project. The $15 billion facility, the highlight of Prime […]
NEW DELHI: India’s largest lender State Bank of India (SBI) reported 69 per cent decline in consolidated net profit to Rs 576.46 crore in the second quarter ended September 30. The bank’s net profit was Rs 1,840.43 crore in the July-September quarter of previous fiscal. The bank had reported a net loss of Rs 4,875.85 […]
