Business news

Walmart on Flipkart deal: Have complied with all tax obligations under IT rules

The Bentonville behemoth had bought 77 percent stake worth $16 billion in India's largest online retailer Flipkart.

Sep 8, 2018

Hinduja Group eyes equity stake in two UAE banks; plans to move HQ out of London

Gopichand P. Hinduja said that the company is mulling the idea of shifting its London-based headquarters either to UAE or Singapore.

Sep 8, 2018

IT dept investigates ICICI Bank's sale of Mumbai building to Videocon Group

The 13 storied building, Radhika apartments in Prabhadevi in central Mumbai, was earlier the staff quarter for the ICICI bank. It has now come under lens after the allegations were made of possible quid pro quo.

Sep 8, 2018

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Alibaba co-founder Jack Ma to retire, focus on educational philanthropy

Ma will step down on Monday, September 10 on what will be his 54th birthday.

Sep 8, 2018

Johnson & Johnson to work with Indian govt to compensate for ASR hip implant patients

Last month, a government panel recommended that J&J pay compensation of at least 2 million rupees ($27,812) to each patient who received an ASR hip implant in India, an estimated 4,700 people.

Sep 7, 2018

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Government to turn cash-crunched Air India into a board-managed company?

The government's plan to privatise the indebted "Maharaja" did not attract bids from any player earlier this year.

Sep 7, 2018

Infosys announces joint venture with Singapore-based Temasek

Infosys Consulting (Infosys subsidiary) will hold a 60 percent stake in the joint venture and it will be headquartered in Singapore.

Sep 7, 2018

NCLT to hear petition against Reliance Naval, Jindal India Thermal

As of March 2018, the total debt owned by the Reliance Naval to its lenders is worth Rs 5349.17 crores.

Sep 7, 2018

DMK will participate in Bharat Bandh called by Cong, says Stalin

DMK President said the centre was not interested in passing on the benefits of lower crude oil prices to the people.

Sep 7, 2018

Apple shelves plan to launch UPI-based payments platform in India

The reason behind the Apple's decision is the Reserve Bank of India's recent data localisation rule including the technical and design hurdles related to the flow of payments on UPI.

Sep 6, 2018

Not aware of husband's business dealings with Videocon, Kochhar tells Sebi

Calling all the charges baseless, Kochhar argued that all the requisite disclosures were adhered to by her.

Sep 6, 2018

Mobile number portability to become faster, easier: TRAI

The TRAI aims to help subscribers port their numbers from one operator to another within two days as opposed to the current seven working days.

Sep 6, 2018

Amid cash crunch, Jet Airways delays salary of 20 % employees: Reports

It is to be noted that Jet Airways has emerged as one of the biggest losers in the airline industry.

Sep 5, 2018

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China to 'kill US dollar' with its hidden gold reserves?

No one knows for sure if China has 20,000 tons of gold in reserves. But if indeed it has that deep a gold reserve, Beijing can take on the US dollar by using gold for international trade.

Sep 5, 2018

Rise of Facebook threatening Google's online ad space in India?

Google officials in India earlier this year were alarmed to learn that Facebook Inc was likely to generate about $980 million in revenue in the country in 2018.

Sep 5, 2018