Business news

Adani Group, 3 multinational firms plan $4 billion petrochemical complex in Gujarat

The collaboration includes evaluating a joint world-scale propane dehydrogenation (PDH) plant to produce propylene-based on propane feedstock to be supplied by Adnoc.

Oct 18, 2019

Air India Airbus A320 passenger aircraft.

Air India divestment: Permission to retrench staff may clinch deal in second bid

The Modi government may get second time lucky with the offer made sweeter with 100% stake sale and permission to retrench staff under voluntary retirement scheme norms

Oct 17, 2019

Social media scare prompts HDFC Bank to clarify on deposit insurance programme

Photograph of a passbook page affirming that deposits are insured for up to Rs 1 lakh as per a 2017 RBI circular circulated on social media causing panic amid continuing stress in India's banking sector.

Oct 17, 2019

Market today: Sensex rises over 100 points, Nifty nears 11,480

The broader NSE Nifty traded 6 points higher at 11,470.05, while the benchmark BSE Sensex opened at 38,647.44, higher from its previous close of 38,598.99.

Oct 17, 2019

PMC bank scam: Depositors demand Rs 5000 crore bailout from PM Modi

The development has come against the backdrop of third depositor dying within 24 hours.

Oct 17, 2019

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Uber sacks 350 employees globally, less than 10% based in India

As the company faces stiff competition from home-grown ride-hailing service Ola, it is injecting huge investment, making cost-cutting a target.

Oct 17, 2019

Amazon's consumer business fully sheds Oracle, moves on AWS

AWS CEO Andy Jassy in November said that Amazon will take off all its workloads from Oracle databases by the end of 2019 and put those on its own database offerings.

Oct 17, 2019

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Saudi Aramco expected to give green light to its blockbuster IPO soon

The share offer is the centrepiece of the Kingdom's Vision 2030 strategy that aims at revamping its economy through diversification under the leadership of Crown Prince Mohammed bin Salman.

Oct 16, 2019

Can India defy US pressure and continue trade ties with Venezuela, Russia?

Finance Minister Sitharaman says India cannot sacrifice 'economic strength' and strategic interests to comply with US sanctions.

Oct 16, 2019

India's Nayara supplying fuel to Rosneft in exchange for Venezuelan oil: Report

The United States in January prohibited US-dollar transactions for oil sales from Venezuela's PDVSA or its units.

Oct 16, 2019

Indian energy market heats up: Total SA to buy 37.4% stake in Adani gas

The decision has heated up the competition to take a pie of India's oil and gas sector as global major Shell and British Petroleum are already operating in India.

Oct 15, 2019

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