Business news

Mumbai home to most ultra-HNIs in India: Wealth report

In the past 10 years, the growth in India's ultra-high-net-worth individuals outsmarted its global peers with a 340 percent rise over just 61 percent increase globally.

Mar 3, 2016

Gain in rupee, rate cut hopes lead Sensex rally for 3rd day

Indian stocks gain for the third straight day as investors find India a relatively better buy than many of the other emerging markets.

Mar 3, 2016

Nitin Gadkari cancels IRB Infrastructure's Rs 10,050-crore Zojila tunnel contract

The road and transport ministry reportedly cancelled the contract without giving any reason.

Mar 3, 2016

India's top lender moves court seeking arrest of Vijay Mallya, ex-chairman of Diageo company United Spirits

A SBI-led consortium of 17 lenders has moved the Debt Recovery Tribunal to recover Rs 7,800 crore from Mallya and now-defunct Kingfisher Airlines.

Mar 3, 2016

Govt may examine asset or stake sale in 80 PSUs

To expedite stake sale, the government will exempt buyers from getting some clearances, said an Economic Times report.

Mar 3, 2016

Bloomberg-TheQuint.com to launch a new TV news channel

Bloomberg, Raghav Bahl sign agreement to launch news channel and website

Bloomberg and Bahl will together invest Rs 100 crore in the new venture.

Mar 3, 2016

India received record investments from private equity firms last year

Investments in consumer technology went up 46 percent to $6.9 billion last year.

Mar 3, 2016

3-day jewellers' strike may cost the economy $432 million

An excise duty of 1 percent on gold transactions worth Rs. 6 crore per year brings small manufacturers to book.

Mar 3, 2016

GE to sell India financial services business to Aion, former execs

Aion has partnered with former GE Capital executives Pramod Bhasin and Anil Chawla for the acquisition.

Mar 3, 2016

david-cameron-and-ed-miliband-react-to-hsbc-headquarters-move

Forty big banks test blockchain-based bond trading system

The banks are part of a consortium of 42 major lenders, brought together last year by New York-based R3 CEV to work on ways blockchain technology.

Mar 3, 2016

Where to get the best Fourth of July discounts?

Target to invest billions to improve supply chain, ramp up online growth

Target blamed its "incredibly complex supply chain" for unacceptable stock levels in 2015 that hurt sales growth.

Mar 3, 2016

Airbus sees no serious impact from China economy slowdown

European plane maker Airbus broke ground on its first wide-body completion plant outside of Europe in China on 2 March, while its CEO Fabrice Bregier said he saw no serious impact on the China plane market from slowing economy. Airbus marked the handover of a completion and delivery centre for its wide-body A330 in Beijings neighbouring city of Tianjin, which will be a new addition to its existing assembly plant for A320 planes.

Mar 2, 2016