Business news

World Bank's investment arm to buy stake in Lenskart

Recently, IFC bought stake worth $25 million in online grocery retailer BigBasket.

Feb 23, 2016

Fairfax Financial to raise $536.42 million via equity issuance

The deal is set to take Fairfax's stake in the insurer up to 35 percent.

Feb 23, 2016

Islamic State group rigs currency rates in Mosul to prop up finances

Air strikes have reduced Islamic State group's ability to extract, refine and transport oil, a major source of revenue for the group.

Feb 23, 2016

United Tech says a deal with Honeywell would face major challenges

Merger discussions between the two US-based multinationals are not currently active.

Feb 23, 2016

Infosys eyes 16% revenue growth next fiscal

Industry body Nasscom, however, cut its growth estimate for the sector to 10-12 percent for the next fiscal amid growing macroeconomic uncertainty and currency fluctuations.

Feb 22, 2016

CCI okays RCom's acquisition of Sistema's Indian telecom unit

Sistema Shyam Teleservices Ltd, a unit of Russia-based Sistema, operates under the MTS brand in India.

Feb 22, 2016

Budget 2016: Concerns over excise duty hike for cigarettes weigh on ITC shares

ITC is already struggling with slowing growth in cigarette volumes.

Feb 22, 2016

Budget 2016: Here's how govt's receipts and expenditure may look like in FY17

Gross tax revenues to go up 14.9 percent in fiscal 2017, but disinvestment target would be halved to Rs 30,000 crore, says SBI.

Feb 22, 2016

Meru Cabs expects to raise Rs 1,371 crore in 2 years

During FY15, Meru Cabs clocked Rs 280 crore in operating revenues and a net loss of Rs 3.3 crore.

Feb 22, 2016

Budget 2016: Govt may raise FDI via automatic route in insurance to 49%

Currently, insurance companies seeking FDI beyond 26 percent need to get approval from the FIPB.

Feb 22, 2016

Reliance Jio will roll out 4G services in later half of 2016: Mukesh Ambani

Reliance Jio is expected to cover 80 percent of the country's population by end of 2016.

Feb 22, 2016

Tata criticises older Indian airlines as competition heats up

Ratan Tata, in a tweet, accused established Indian airlines of trying to monopolise the domestic aviation market.

Feb 22, 2016

Budget 2016: Allocation to defence may rise by 9%

Pension payments for ex-servicemen will rise sharply in the next fiscal year as a result of implementation of OROP scheme.

Feb 22, 2016

AT&T to invest $10 billion to bolster global enterprise services

AT&T said it expects its overall capital expenditure in 2016 to total $22 billion.

Feb 22, 2016

EU lenders working on plan for gradual Greek debt relief: Greek paper

The lenders have publicly spoken about granting debt relief on condition reforms are completed.

Feb 21, 2016

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