Business news

Continental to create 2,000 jobs as India's automobile industry hits the fast lane

The Indian automobile industry is currently the fourth largest in the world with sales increasing 9.5 percent year-on-year. The market trends indicate the upbeat will continue for the next couple of years.

Aug 10, 2018

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State govts get nutritional cushion; Centre to sell pulses at discounted rates through PDS

Pulses like tur, chana, moong, masoor and urad will be sold at a discounted price of Rs 15 per kg over current wholesale prices.

Aug 10, 2018

Jet Airways' Naresh Goyal apologises to shareholders for losses and plummeting shares in glum Q1

Naresh Goyal, the chairman and founder, spoke to the company's shareholders during the annual general meeting and said that he was unhappy as a lot of shareholders had lost their money amid Jet Airways' financial issues.

Aug 10, 2018

Bhushan Steel ex MD Neeraj Singhal arrested for siphoning funds worth Rs 2,000 cr

The investigating team stated that the ex-MD was guilty under Companies Act, 2013.

Aug 10, 2018

New US sanctions hit Russian market; rouble hits two-year low

The Russian currency is on track for its deepest weekly fall since early April when it lost 6.7 percent.

Aug 9, 2018

Sensex crosses 38,000 mark; Nifty50 nears 11,500 at record high

Positive domestic political cues lifted the Indian equity indices to new record highs on Thursday.

Aug 9, 2018

Jet Airways layoffs: After pay cut plans failed to materialise, airline letting go 500 staffers?

Jet Airways is reportedly mulling handing out pink slips to about 500 of its ground personnel. Not just that, the airline may also reportedly reorganise and trim the cabin crew on its Boeing and Airbus fleet and terminate the contract of its senior crew members.

Aug 9, 2018

Walmart's Flipkart acquisition for $16 billion cleared by Competition Commission of India

Bentonville, Arkansas-based Walmart announced in May it was acquiring about 77 percent of Flipkart for roughly $16 billion in the biggest deal for India's e-commerce sector, which Morgan Stanley estimates will grow close to an annual $200 billion in a decade.

Aug 9, 2018

RBI tightens grip on non-compliant NBFCs; cancels 368 licences

The financial stability report made by the Reserve Bank of India stated that the aggregate balance sheet size of the NBFC sector stood at Rs 22.1 trillion as of March 31.

Aug 8, 2018

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Crackdown on black money? Switzerland govt likely to share HSBC bank data with India in 10 days

The Supreme court of Switzerland has ordered the Swiss government to share HSBC account details of Indian citizens for the Indian government to investigate tax fraud and undisclosed foreign investments.

Aug 8, 2018

Privacy alert: Why is Facebook seeking bank details of customers from major US banks?

Facebook might have clarified it has no intention of using the personal bank data for anything apart from offering a smooth banking experience via Messenger, but news of the company seeking personal bank details of users is bound to raise concerns, especially after the Cambridge Analytica scandal.

Aug 7, 2018

ICICI Bank wrote down massive bad loans but didn't tell investors - Report

ICICI Bank wrote off as much as 5,600 crore in corporate loans, helping it present a much lower gross NPA in the year 2016-17, a note sent by CEO Chanda Kochhar to the bank's board showed.

Aug 7, 2018

Viagra: Pfizer set to lose patent-protected monopoly in US; 7 Indian firms readying clones

When the Indian firms start selling the pill in the US, prices are expected to fall by a staggering 99 percent. While each pill of Viagra costs $65 (Rs 4,450) in the US, its Indian clones sell for as little as Rs 32 per tablet in India.

Aug 7, 2018

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Bumper opening for HDFC AMC on stock exchange; Prices surge 65 percent on debut

As compared to the issue price of Rs. 1,100 HDFC AMC shares shot up to Rs. 1,844 at day's high on NSE.

Aug 7, 2018

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How an Indian woman took a multinational company to new heights: Here is Indra Nooyi's success story

Born in a traditional Tamil speaking family in Chennai, Nooyi joined PepsiCo in 1994 and was chosen as Chief Financial officer in 2001. Impressed by her performance, the company made her the CEO in 2006.

Aug 7, 2018

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