NEW DELHI: India’s largest lender SBI will raise Rs 4,116 crore by issuing Basel III compliant bonds to add up to its tier 2 capital, the bank said on Friday. The committee of the directors for capital raising has accorded approval to allot Basel III compliant debt instruments qualifying as tier 2 capital of the […]
NEW DELHI: ArcelorMittal on said Friday it has reached an agreement with Liberty House for the sale of its assets in Luxembourg and Belgium. The assets are the final part of a divestment package the Luxembourg-headquartered company agreed with the European Commission (EC) during its merger control investigation into ArcelorMittal’s acquisition of Ilva SpA. “ArcelorMittal… […]
NEW DELHI: Capital market regulator Securities and Exchange Board of India (SEBI) on Thursday said it will launch Unified Payments Interface as an alternative payment option for retail investors, buying shares in a public issue, in a phased manner from January 1 next year, which will cut listing time for an IPO to three days […]
MUMBAI: Swedish furniture giant Ikea is planning to hire 10,000, both direct and indirect, in Maharashtra over the next two to three years, a senior company executive has said. The company opened its first store in Hyderabad in August this year and the Navi Mumbai will be the second store in the country. “Next year, […]
NEW DELHI: The Supreme Court of India on Wednesday dismissed the plea of the Chief Managing Director (CMD) of Amrapali real estate group Anil Sharma and two other directors seeking permission to visit their homes to celebrate Diwali and other festivals with their family members. The apex court directed that the CMD and two other […]
NEW DELHI: PNB Housing Finance said on Wednesday it has raised Rs 2,450 crore through commercial papers (CP) amidst reports of tight liquidity situation in the market. This is in addition to Rs 1,775 crore raised earlier in October totalling to Rs 4,225 crore of CPs raised in October 2018, the mortgage firm said in […]
NEW DELHI: GST collections in October have crossed the Rs 1 lakh crore mark, Finance Minister Arun Jaitley said on Thursday. The revenue from goods and services tax (GST) in September was Rs 94,442 crore. GST mop-up had crossed the Rs 1 lakh crore mark for the first time in April and since then it […]
NEW DELHI: TDP supremo and Andhra Pradesh Chief Minister N Chandrababu Naidu, who is trying to unite the opposition parties to take on the BJP in the Lok Sabha elections next year, Thursday met Congress president Rahul Gandhi here, sources said. The meeting comes amid seat-sharing talks between the two parties for the Assemby elections. […]
NEW DELHI:The Supreme Court of India has asked the Narendra Modi government for pricing details of the 36 Rafale fighter jets India is buying from France in a sealed cover within 10 days but agreed that “strategic and confidential” information need not be disclosed. In its order, a three-judge bench headed by Chief Justice Ranjan […]
NEW DELHI:Invest India through its flagship initiative Startup India has partnered with WhatsApp on a program that focuses on the proliferation of start-ups, promoting economic growth and generating employment opportunities in India. Dedicated to driving success and enhancing grassroots innovation, WhatsApp will invest quarter of a million dollars as seed funding to the top 5 […]
NEW DELHI: HDFC Bank on Monday said the RBI had approved the re-appointment of Aditya Puri as managing director of the bank for another two years. “Reserve Bank of India, vide its letter dated October 22, 2018, has accorded its approval to HDFC Bank Ltd. for re-appointment of Aditya Puri, as MD & CEO of […]
NEW YORK: Google fired 48 employees, including 13 senior managers, over sexual harassment claims since 2016, CEO Sundar Pichai has revealed, asserting that the tech giant was taking an “increasingly hard line” on “inappropriate conduct” by people in positions of authority. In a letter to employees, the Indian-American chief executive officer said Google was “dead […]
Full text of Reliance Industries Ltd (RIL) chairman Mukesh Ambani’s speech at India Mobile Congress: Honourable Minister Shri Ravi Shankar Prasadji, Shri Manoj Sinhaji, Ladies and Gentlemen, A very warm good morning. Dear Friends, Today, we are living in an India of unprecedented hope and promise… …An India that is poised to embrace an immensely […]
NEW DELHI: Tata Motors-owned Jaguar Land Rover (JLR) on Thursday announced the opening of its new state-of-the-art $1.6 billion manufacturing facility in Slovakia, a first for a British automotive brand setting up in the central European country. JLR said its investment is expected to lead to an annual production of 100,000 cars at the new […]
NEW DELHI: Shareholders of embattled Essar Steel on Thursday offered to pay Rs 54,389 crore, including an upfront cash payment of Rs 47,507 crore, to clear all dues owed to lenders. The move aims at pulling the company out of insolvency proceedings. The proposal was made as the Committee of Essar Steel Creditors voted on […]
NEW DELHI: IDFC Bank has proposed to change its name to ‘IDFC First Bank Ltd’ as it is in the process of amalgamating non-banking financial company Capital First with itself. The Board of Directors of IDFC Bank at its meeting on Wednesday decided to seek approval of the Reserve Bank of India to rename the […]
