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Asia oil thirst tab $1 trillion a year as crude rises to $80

With the US dollar - in which virtually all oil is traded - also growing stronger, concerns are rising that economies will take a hit, especially in import-reliant Asia. Surging costs could have an inflationary effect that will hurt both consumers and companies.

May 17, 2018

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Sensex falls as Karnataka election outcome disappoints

The Bharatiya Janata Party (BJP) won 104 seats, falling short of the 113 seats needed to form a government, while the opposition Congress clinched 78 seats.

May 16, 2018

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Suspected RBI interventions stems rupee's fall

Sharply rising U.S. dollar yields have boosted the dollar on international exchanges, and the rupee was also coming under pressure from firm crude oil prices that will weigh on India's already widening trade deficit.

May 16, 2018

Fraud-hit PNB suffers biggest ever quarterly loss for an Indian bank

The bank's shares ended down 3.8 percent, their lowest close since June 13, 2016, having fallen as much as 6.4 percent after the results. The stock has lost almost half of its value this year making it the worst performer among Indian bank stocks.

May 16, 2018

CBI charges former PNB head, 21 others in bank fraud case

PNB, India's second-largest state-run bank, had revealed earlier this year that two jewellery groups had defrauded it by raising credit from overseas branches of other Indian banks using illegal guarantees issued by rogue PNB staff over several years.

May 15, 2018

Eicher Motors to focus on Royal Enfield: Interceptor, Continental GT 650 to lead strategy

After the unsuccessful venture with Polaris in personal utility vehicle space, Eicher Motors is planning to fully focus on its hugely profitable Royal Enfield motorcycle business. The Continental GT 650 and Interceptor 650 are the new bikes to be launched from the Chennai-based niche bike maker.

May 14, 2018

Hundreds of Flipkart employees to turn dollar millionaires overnight after Walmart acquisition

Many former and current Flipkart employees with shares are in for a treat after the American retail giant Walmart acquired 77 percent of the Bengaluru-based company for USD 16 billion.

May 10, 2018

Beyond headlines: What Flipkart-Walmart deal means for consumers, traders and government

The arrival of the most potent retailer from the first-world means the Indian consumers will be treated to ultra-low prices, steep discounts and other winning offers. On the other hand, the sellers, smaller rivals and other elements in the sprawling logistics chain are nervous.

May 10, 2018

Who is Sachin Bansal? Things to know about the co-founder of Flipkart

When IIT Delhi graduates Sachin Bansal and Binny Bansal, two former employees of Amazon, invested four lakh in a start-up venture called Flipkart, little did they know that it would revolutionize online shopping in India.

May 10, 2018

Walmart buys 77 percent stake in India's Flipkart for $16 billion

The investment was more than the $10-12 billion given by sources close to the deal in the past week.

May 9, 2018

Maruti Suzuki recalls 52,686 new Swift, Baleno units: Is your car affected?

Maruti Suzuki claims the recall will inspect for a possible fault in the brake vacuum hose. A total of 44,982 units of the new Swift and 7,704 units of Baleno are covered under the service campaign.

May 8, 2018

Apple surprises with solid iPhone sales, announces $100 billion buyback

Apple bought $23.5 billion of stock in the March quarter and said it planned to hike its dividend 16 percent, compared with a 10.5 percent increase last year. Analysts believe the heavy emphasis on buybacks will bolster share prices.

May 2, 2018

U.S. judge blocks Fujifilm, Xerox merger temporarily

The preliminary injunction came a day after the companies reopened deal talks on their $6.1-billion merger. They are discussing a higher price after Xerox, under pressure from top investors, asked to renegotiate the terms.

Apr 29, 2018