Business news

Crippled by bad loans, ICICI posts first ever loss in 16 years

Hurt by higher provisions for bad loans and bond losses, as well as the ongoing investigation into former Chief Executive Chanda Kochhar, ICICI Bank posted its first loss in 16 years, reporting Rs 1.2 billion in losses for the first fiscal quarter.

Jul 28, 2018

Domino's takes a slice of GST cuts, deprives customers of benefit

Anti-profiteering authorities are currently investigating the pizza chain for failing to reduce prices of its products and not passing on the cut in GST rates to the consumers.

Jul 27, 2018

Food apps ahead of e-commerce giants in paying delivery staff

Swiggy and Zomato have doubled the salaries of delivery executives and they now pay more than e-commerce giants like BigBasket and Flipkart.

Jul 27, 2018

E-commerce giants, cotton industry hit by truck strike

With no end in sight for the strike, the cotton factories are on the verge of closure and vegetable prices are expected to rocket as inventory is dwindling.

Jul 27, 2018

Last day for filing Income Tax Returns extended to August 31 but there's a catch

The Central Board of Direct Taxes (CBDT) confirmed the extension date for filing Income Tax Returns (ITR). The department has also not mentioned the reason for the change in the deadline.

Jul 26, 2018

Drug-makers to take a hit? Govt may ban 343 'irrational' medicines

The Chandrakant Kokate committee found out that these drugs are irrational and pose health risks, post which the ministry of health and family welfare banned 349 FDCs.

Jul 26, 2018

Pakistan stock exchange sees a rise as nation awaits election results

The stock exchange saw a rise to 42,106 points in early trade as Imran Khan's Pakistan Tehreek-e-Insaf (PTI) surged ahead in early poll results.

Jul 26, 2018

Foreign bond investors shun India, blame RBI's lack of reassurance

Total returns on Indian bonds this year are negative 4 percent, one of the worst in Asia after outperforming last year.

Jul 26, 2018

Cash-on-Delivery deals may be illegal: RBI

The RBI has noted that the CoD option is not permissible as it is not in compliance with the Payments and Settlements Systems (PSS) Act, 2007.

Jul 26, 2018

Facebook's new privacy safeguards will erode company's profits for years

Latest earnings reveal a huge drop in Facebook's market cap as the social media giant is investing heavily in new privacy safeguards, a move that will eat into the company's profits for "years" as per Chief Financial Officer David Wehner.

Jul 26, 2018

New deal sees an end to the US and EU trade war

EC head Jean-Claude Juncker and US President Trump announce an end to the US-EU trade war with a new deal that will see Brussels import soybeans and liquefied natural gas.

Jul 26, 2018

Production facility is seen at Saudi Aramco's Shaybah oilfield

Oil prices rise as Saudi Arabia halts shipments through Red Sea lane after Houthi attack

The Bab al-Mandeb Strait, where the Red Sea meets the Gulf of Aden in the Arabian Sea, is only 20 km (12 miles) wide, making hundreds of ships potentially an easy target.

Jul 26, 2018

Korean and Chinese handset makers' takeover as Indian players fail to impress

Micromax had a 16 percent share of the Indian smartphone market in the final quarter of the financial year 2016. Its share substantially dropped to only five percent in final quarter of the financial year 2017.

Jul 25, 2018

HDFC AMC IPO subscribed 43% in first 3 hours

IPO received a positive response from the investors as 81,00,560 shares were subscribed against the issue size of 1,88,04,290 shares.

Jul 25, 2018

Ferrari Chairman and CEO Sergio Marchionne

Sergio Marchionne, the man behind Fiat Chrysler resurrection, dies at 66

Sergio Marchionne died after complications from a surgery conducted at Zurich's University Hospital. He was replaced as CEO of FCA on July 22 by Mike Manley.

Jul 25, 2018