Complete exploration of 329 mining leases expiring in 2 years: Centre to states

NEW DELHI: The government of India (Centre) has asked mineral rich states to complete by next month the exploration of all the 329 mining leases expiring in another two years. Mines Secretary Anil Mukim advised that “exploration of all mining leases expiring in 2020 should be completed by December 2018,” according to the minutes of […]

FPI outflow hits 2 year high in October; total withdrawal crosses Rs 1 trillion mark in 2018

NEW DELHI: Overseas investors pulled out a massive Rs 38,900 crore (over $5 billion) from the capital markets in October, the steepest outflow in nearly two years, on rising crude oil prices, depreciating rupee and worsening current account deficit. With this, the total outflow from the capital markets (equity and debt together) has reached over […]

Deloitte, EY among 5 entities shortlisted to streamline online registration process: SEBI

NEW DELHI: Regulator Securities and Exchange Board of India (SEBI)  has shortlisted five entities including Deloitte and EY that will be entrusted with the task of improving online registration system, inspect market intermediaries and enhance the efficiency of the complaint redressal process. Other firms on the shortlist are Accenture Solutions, BDO India LLP and EIT Services […]

Mukesh Ambani sets up Estonian JV for e-governance; takes up e-residency

TALLINN/MUMBAI: Industrialist Mukesh Ambani is keen on the e-governance space and has set up a subsidiary company in Estonia to get a grip on the solutions, government officials of the Northwestern European nation have said. Ambani has formed a subsidiary with the Estonian government’s former chief information officer Taavi Kotka. The joint venture will be […]

Delhi High Court directs e-commerce site Darveys to ensure products for sale on portal are not counterfeits

NEW DELHI: In a step towards ensuring counterfeits of popular branded products are not sold on online marketplaces, the Delhi High Court has directed an e-commerce platform to make sure that each item put up for sale on its site is genuine. Justice Pratibha M Singh issued the direction, saying in the world of e-commerce, […]

Forex reserves down by $1.4 billion to $392 billion due to fall in foreign currency assets

NEW DELHI: Continuing its decline, the country’s foreign exchange reserves slumped by $1.444 billion to $392.078 billion in the week to October 26 due to a fall in foreign currency assets, according to Reserve Bank of India (RBI) data. In the previous week, the reserves had declined by $942 million to $393.523 billion. In the […]

Global factors, rupee, oil to drive stock markets this week: Experts

NEW DELHI: Trend from global equities, macroeconomic data as well as movement of the rupee and crude oil prices will set the tone for the stock markets in the holiday-shortened week ahead, say experts. Bourses would remain closed on Wednesday and Thursday for ‘Diwali Laxmi Pujan’ and ‘Diwali Balipratipada’. The BSE and NSE will conduct […]

Eight of top-10 firms gain Rs 1.69 trillion in m-cap; TCS, SBI shine

MUMBAI: Eight of the 10 most valued Indian firms together added Rs1.69 trillion in market capitalisation last week, led by Tata Consultancy Services (TCS) and SBI. A strong broader market drove the market capitalisation (m-cap) of the eight blue-chip firms, including ICICI Bank, HDFC and RIL, higher by Rs1,69,865.11 crore for the week ended Friday. […]

Narendra Modi’s foreign trips don’t help bring black money back: Ghulam Nabi Azad

NEW DELHI: The Congress on Saturday said Prime Minister of India Narendra Modi’s foreign trips had failed to create an environment that would help bring back black money stashed abroad or fugitives from the law. Leader of Opposition in Rajya Sabha Ghulam Nabi Azad said the Modi government had failed to extradite those who allegedly […]

15 new projects to create 8,883 jobs in Odisha

BHUBANESWAR: Odisha Chief Minister Naveen Patnaik on Saturday conducted groundbreaking ceremony for 15 industrial units that would collectively invest Rs 1,807.92 crore in the state, besides creating employment for 8,883 people. The projects are being developed by companies like Ultratech Cement, Welspun Ltd, Chettinad Cement, Surya Foods, P&A Bottlers, CRPL Infra, Vijaynagar Bio-tech, Coastal Corporation, […]

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