Indian Rupee slumps 33 paise to close at record low of 74.39
MUMBAI: Indian rupee slumped by 33 paise to finish at a fresh lifetime low of 74.39 against the United States of America (USA) dollar Tuesday on high crude oil prices, strengthening of the greenback and unabated foreign fund outflows. At the Interbank Foreign Exchange (Forex), the rupee made a cautious recovery of 18 paise to […]
Boeing’s India head Pratyush Kumar appointed to lead its F-15 fighter aircraft programme in USA
NEW DELHI: The Boeing Company on Monday appointed the head of its India operations, Pratyush Kumar, to lead the defence major’s F-15 fighter aircraft programme in the United States of America (USA). “Kumar has been selected to lead our F-15 fighter aircraft programme and further its business in the US and globally,” said Boeing in […]
Mutual funds AUM drops 12.5% to Rs 22 trillion by September-end
NEW DELHI: Mutual funds’ asset base declined 12.5% to Rs 22 trillion in September-end on the back of massive outflow from liquid funds and income schemes. According to Association of Mutual Funds in India (Amfi) data, the asset under management (AUM) of the industry, comprising 41 active players, stood at Rs 22.06 trillion at the […]
Tenders worth Rs 88,000 crore for bullet train project by January next year: Report
NEW DELHI: The National High Speed Corporation Limited (NHSRCL) is gearing to float more than 20 tenders for the bullet train project by January next year, sources in the railway ministry said. The tenders amounting to Rs 88,000 crore will be for coaches, infrastructure, signalling, technology, among others, the source said. Amid local resistance against […]
USA should not view ties with Pakistan through ‘Indian lens’
ISLAMABAD: The United States of America (USA) should not view its ties with Pakistan from the the Indian lens or Afghan perspective, Pakistan’s Foreign Minister Shah Mehmood Qureshi has said. The relations between Pakistan and the US nosedived this January after President Donald Trump accused Islamabad of giving nothing to Washington but “lies and deceit” […]
India plans to auction over 100 mineral blocks by March 2019
NEW DELHI: Having secured Rs 1.81 lakh crore in its kitty from e-auction of 50 mineral blocks, the government is looking to put on block another 100 mines in the next six months, according to the Ministry of Mines. The government so far has auctioned 50 mines, including 23 limestone, 17 iron ore, 4 gold, […]
India ideal investment destination, says Narendra Modi
NEW DELHI: Prime Minister of India Narendra Modi has inaugurated Uttarakhand’s first investors summit on Sunday, saying India is the ideal investment destination in the world today with major social and economic changes sweeping the country. Addressing the country’s top business leaders and industrial houses at ‘Destination Uttarakhand: Investors Summit 2018’, Modi said the country […]
Atal Innovation Mission & SIRIUS sign MoU for promotion of innovative cooperation between students of India, Russia
NEW DELHI: To promote innovative cooperation between students of India and Russia, a Memorandum of Understanding (MoU) was exchanged between India’s Atal Innovation Mission (AIM) and the Russian Federation’s SIRIUS Educational Foundation in the presence of the Prime Minister of India Narendra Modi and the President of Russia H.E. Vladimir Putin, in New Delhi on […]
S-400 deal shows highest level of trust between Russia and India: Russian official
MOSCOW: Russia’s decision to sell the sophisticated S-400 Triumf air defense missile system to India by 2020 testifies to the highest level of trust and understanding between the two strategic partners, a top official of a Russian industrial conglomerate said on Friday. India and Russia concluded the USD 5 billion S-400 air defence system deal, […]
India appoints ex-Canara Bank MD Rakesh Sharma as IDBI chief
NEW DELHI: The government of India appointed former Canara Bank managing director Rakesh Sharma as head of IDBI Bank. Sharma has been appointed as managing director for a period of six months, sources said. This comes after the tenure of B Sriram who was appointed as the chief executive of IDBI Bank for three months […]
India, Russia sign USD 5 billion S-400 deal
NEW DELHI: India and Russia signed the USD 5 billion S-400 air defence system deal on Friday after wide-ranging talks between Prime Minister Narendra Modi and Russian President Vladimir Putin, official sources said. The agreement was signed in the presence of both the leaders at the 19th India-Russia annual bilateral summit. The S-400 missile defence […]
India , ADB sign $110 million loan to improve rural connectivity in Madhya Pradesh
NEW DELHI: Government of India and Asian Development Bank (ADB) have signed a $110 million loan to finance the upgrade of 2,800 kilometers all-weather rural roads in the State of Madhya Pradesh under the Prime Minister’s Rural Roads Program (PMGSY). Tranche 2 loan is part of the $500 million Second Rural Connectivity investment Program for […]
India, Russia ask countries to fully implement Paris pact; commit to promoting green development
NEW DELHI: India and Russia on Friday asked all countries to fully implement the Paris Agreement on climate change while committing to promote green development and low-carbon economy. In a joint statement issued after the 19th India-Russia annual summit between Prime Minister Narendra Modi and Russian President Vladimir Putin, both the nations also asked developed […]
India plans Bharat-22 ETF listing on an overseas exchange
NEW DELHI: The government of India is planning to list Bharat-22 ETF on an overseas stock exchange to unlock its value and raise foreign capital. The government has already raised Rs 22,900 crore through two tranches of Bharat-22 Exchange Traded Fund (ETF) in the domestic markets. There have been some initial discussions on whether Bharat-22 […]
India, Uzbekistan ink 17 pacts; to deepen ties in counter-terrorism, defence
NEW DELHI: India and Uzbekistan on Monday inked 17 pacts to boost ties in key areas including defence after extensive talks between Prime Minister Narendra Modi and Uzbek President Shavkat Mirziyoyev on a host of important bilateral and regional issues such as Afghanistan and counter-terrorism. The two countries will also hold joint military training exercises […]
India releases agriculture census data for 2015-16; female participation rising in farm sector
NEW DELHI:The government of India on Monday released agriculture census for 2015-16 that showed a 1.53 per cent decline in total operated area at 157.14 million hectare as compared to 2010-11 data, but a rise in both operational holdings and female participation. The average size of operational holding declined to 1.08 hectares (ha) in 2015-16 […]