Business news

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

As countermeasure, India hikes import duty on 29 US products

A Finance Ministry notification said the duty hike would come into effect immediately for 28 products, while for the marine product artemia the increased duty would be effective from August 4.

Jun 21, 2018

Sistema exits Reliance Communications; sells its 10 percent stake

Sistema JSFC has decided to exit Reliance Communications after the struggling telco recently got entrapped in insolvency proceedings.

Jun 21, 2018

Air Asia passengers complain of suffocation in 'smoky' flight, accuse airline of ill-treatment

Some flyers on board an Air Asia Kolkata-Bagdogra flight reportedly had an argument with the crew members and the pilot of the plane. The passengers have accused the airline of ill-treatment and bad behaviour and said they were forced to deboard the aircraft after the flight was delayed by over four hours.

Jun 21, 2018

Blood on his hands: 'Fugitive' Mallya paid London staffers, but not those based in India, say Kingfisher employees

The employees of the now-defunct Kingfisher Airlines said in the letter that Mallya must be brought back and punished for his crimes, which includes "abetment of suicide." They slammed the government for prioritising the dues Mallya owed to banks, instead of worrying about paying his employees first.

Jun 20, 2018

Chanda Kochhar salary: On leave and facing probe, ex-CEO to draw full pay

The ICICI board that sent CEO Chanda Kochhar on leave pending investigation into loan irregularities has,however, allowed her to draw full salary. Industry watchers say it's a sign of lax corporate governance at the bank.

Jun 20, 2018

Play

Chanda Kochhar exit: This is how ICICI Bank board edged out 'aggressive, defiant' CEO

ICICI bank turns a leaf with the 'indefinite' leave of Chanda Kochhar and the appointment of Sandeep Bakhshi as interim head. However, reports say Kochhar was defiant and aggressive at the board meeting and forced changes in the phrasing of the statement announcing her departure, a fallout of the dirty loan to Videocon in 2012.

Jun 20, 2018

Plans to sell Air India shelved, government looks at improving profits

Modi government shelves plan to sell struggling national airline, plans cash injection to boost operational viability. New plans involve an IPO and public trading in the long term.

Jun 20, 2018

PNB scam: Lapses at several levels led to India's largest bank fraud, report says

A $2 billion fraud at India's Punjab National Bank (PNB) may have been orchestrated by a few rogue employees, but it escaped detection because of widespread risk-control and monitoring lapses in many areas of the bank, the bank's own internal probe has found.

Jun 20, 2018

China vows to hit back as Trump plans $200 billion additional tariffs on Chinese imports

The developments suggest an intensifying trade dispute that the International Monetary Fund fears would be one of the biggest risks to global growth.

Jun 19, 2018

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