Business news

Who will be next ICICI Bank chairman? Frontrunner loses out; ex-bureaucrat emerges dark horse

ICICI Bank chairman RK Sharma's terms ends tomorrow. In the running are former bureaucrats Shaktikanta Das, D K Mittal, Tapan Ray C B Bhave. Former Bank of Baroda Chairman and Managing Director MD Mallya, a frontrunner in the beginning, has apparently lost out after he was interrogated in the Rotomac loan scam.

Jun 29, 2018

Indian traders vs Walmart: Nationwide protest against US retail giant on July 2

Walmart might have cut a hot deal with Flipkart but it's burning the traders in India. The massive nationwide protest next week will see over 7 lakh farmers and traders protesting against the US-based multinational retail corporation.

Jun 28, 2018

Adani Group to take over Anil Ambani's Reliance Energy, sale approved by Maharashtra Electricity Regulatory Commission

MERC has approved the 100 percent stake sale of the struggling Reliance Infrastructure to Adani group. The transaction is estimated at around Rs. 18,800 crore.

Jun 28, 2018

Relief for taxpayer? Government won't set up 'bad bank' to flush your money down the drains

The idea of a bad bank resurfaced after state-run banks suggested the creation of an asset reconstruction company to tackle the bad loans.

Jun 28, 2018

Vodafone Idea Limited to emerge as numero uno in Indian telecom market

Vodafone and Idea are currently the second and third-largest telecom providers in the Indian market. The new Vodafone Idea Ltd will dominate the customer base, pushing aside current big players, Bharti Airtel and Reliance Jio.

Jun 27, 2018

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IT department attaches Benami properties worth Rs 43 billion

The Benami legislation came into existence in 1988. It was refined and made more stringent by the Narendra Modi government in November 2016.

Jun 26, 2018

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Policybazaar enters unicorn club with SoftBank-led $200 million funding

It became the second Indian startup in as many weeks after Swiggy, a food delivery tech startup to join the Unicorn club.

Jun 26, 2018

EU in agreement with Amazon, eBay to tackle dangerous product listings

The European Commission has signed an agreement with four major online retailers to combat the listing of dangerous products on Europe's online shopping sites.

Jun 26, 2018

Reliance Industries to go for Jio IPO in 2-3 years: Report

In December 2017, Bloomberg reported that RIL was considering a Reliance Jio IPO by early 2019.

Jun 25, 2018

Wipro's Rishad Premji gets a salary hike of 250% for FY18

It is interesting to note that the hike comes at a time when Wipro has sacked a large number employees in last fiscal year. The IT major has also been dealing with growth issues after the bankruptcy of two clients.

Jun 25, 2018

Jaguar Land Rover to invest Rs 1.2 lakh crore, biggest in its history

Last week, UK investor fraternity was informed by JLR that it will invest a minimum of £4.5 billion, or Rs 40,519 crore, annually over the next three years.

Jun 25, 2018

Jewellery shop robbery in Borivli, Mumbai

Weaker global gold prices lure buyers in most Asian hubs

Spot gold touched its lowest since December 19 at $1,260.84 an ounce on Thursday, weighed down by outlook for higher interest rates in the United States and as the dollar climbed to an 11-month peak.

Jun 24, 2018

ICICI bank probes 31 loan accounts based on whistle-blower complaint

The bank says it has conducted a probe following allegations of irregularity in asset classification in 31 loan accounts. It says that there were no irregularities.

Jun 23, 2018

3 reasons why blockchain is the future of supply chain and manufacturing

"It's not the organisations that are competing. It's the supply chains that are competing," says Wael Safwat of Supply Chain Management Association (SCMAO).

Jun 22, 2018

Trump's trade war heats up with tariffs imposed by EU, India

The EU announced it would launch tariffs on some $3.2 billion worth of American goods such as whiskey, tobacco, Harley-Davidson motorcycles and peanut butter.

Jun 22, 2018