Business news

Friendship with Gardi could prove most damaging of all Naresh Goyal's dealings

Dubai-based Gardi is being probed along with Goyals for various alleged violations; ED is looking into likely offences under foreign exchange regulations by Gardi.

Oct 15, 2019

Amid losses, Paytm in talks with T Rowe Price for $1 billion funding

Paytm has been scouting for investors and shore up funds since the beginning of the year amid increasing loss and competition in the digital payments segment posed by Google Pay and Walmart-owned PhonePe.

Oct 15, 2019

After Thomas Cook, another British travel operator Cox and Kings bites the dust

Even though the firm had reported a cash of Rs 2,500 crore in FY 2019, it had defaulted payments leading to bankruptcy.

Oct 15, 2019

Will likely spectrum price cut help telcos avoid plight of aviation sector?

Telcos have been urging the government to cut 5G spectrum base price ahead of the proposed auction; the sector has been facing financial stress caused by high operating costs and low profitability amid intense competition.

Oct 15, 2019

Good news for BSNL employees, cash-strapped telecom firm to give salaries before Diwali

The Finance Ministry and the PMO are in favour of Rs 50,000 crore capital infusion for the revival of the BSNL and MTNL, the state-run telcos.

Oct 15, 2019

IRCTC makes bumper opening at Dalaal Street, best time to book profit?

At the close of business on Monday, the stock price of IRCTC stood at Rs 728.60 apiece, a jump of around 128 percent.

Oct 14, 2019

After PMC debacle, Centre starts working on stronger framework for co-op banks

One of the RBI officials confirmed that apart from strengthening the framework for oversight of cooperatives, the central bank is also reviewing cap of Rs 25,000 on withdrawals which could be removed soon.

Oct 14, 2019

Air India pilots resign en masse over promotion, salary demands

Around 120 Airbus A-320 pilots tendered their resignation after their demand for salary revision and promotion was ignored by Air India management.

Oct 14, 2019

When will economic slowdown end? World Bank predicts 2nd year of fall in growth

World Bank cut India's GDP growth estimate to 6% for the 2019-20 financial year against 6.9% it achieved in FY19 amid broad-based deceleration of different sectors in the earlier quarters of the year.

Oct 13, 2019

More than 5 lakh jobs expected to be lost due to slump in real estate industry

Several projects are stuck across the country and buyers are waiting for new developers to take interest and complete them.

Oct 13, 2019

IndiGo promoters' differences threaten services

Passenger traffic expected to grow in 2019, says Director General of DGCA

Arun Kumar said induction of aircraft in domestic airlines in the fourth quarter of 2019 would ease fares and usher in passenger traffic growth.

Oct 13, 2019

Raghuram Rajan's take on how worrying the economic situation is as growth slows

Former RBI governor Raghuram Rajan says that uncertainty over economic vision is causing deep distress in the economy whose growth forecast has been slashed multiple times this fisc.

Oct 12, 2019

Backlash over Reliance Jio's decision to charge voice calls

Will Reliance Jio's 30-minute offer of free talk time calm upset customers?

Reliance Jio announced new scheme two days after its decision to charge 6 paise per minute on interconnect calls following huge customer backlash; social media posts remind Mukesh Ambani of his promise to never charge voice calls and #BoycottJio and #ILoveJio hashtags trend on Twitter.

Oct 12, 2019

India may restrict imports of palm oil, other goods from Malaysia after Kashmir comment

India's government was angered after Malaysian Prime Minister Mahathir Mohamad said last month at the United Nations that India had "invaded and occupied" Jammu and Kashmir.

Oct 12, 2019

Fuel price set to spike as tension rises after Iran oil tanker hit in Red Sea

Iran suspects Saudi rocket attacks behind the fire that breaks out on the tanker laden with one million barrels of oil in the Red Sea off Jeddah; reports suggest the attack was in retaliation to Yemeni Houthi's drone strikes on Saudi Aramco oil installations.

Oct 11, 2019