Business
'No Expenditure Cut in FY'18 to Meet Fiscal Deficit Target'
When asked how the government will meet the revised fiscal deficit target of 3.5 percent, Expenditure Secretary said indirect tax collections have already been factored into the revised target.
Sensex Inches Higher on Positive GDP Data, Nifty Above 10,500
All sectoral indices inched higher, led by gains in metals, capital goods, infrastructure, realty, banking and auto stocks.
Nirav Modi's Flagship Company, Firestar Diamond, Files for Bankruptcy in New York
The company has listed assets and liabilities in the range of $50 million (Rs 325 crore) to $100 million (Rs 650 crore), according to a court filing in New York.
Loan Fraud Case: Simbhaoli Sugars Says Committed to Clear All Dues
The CBI has registered a case against the company, its chairman Gurmit Singh Mann, deputy MD Gurpal Singh and others in connection with the alleged bank loan fraud of Rs 97.85 crore.
RBI Raises Currency Derivative Trade Limit to USD 100 Million
The RBI's decision to raise the limit will help entities engaged in forex transactions to maintain their currency risks in a better manner.
India Calls for Changes in WTO to Transform World Economy
Commerce and Industry Minister Suresh Prabhu said that the global trade has benefitted all the nations in terms of creation of jobs and promoting economic activities
PM, Uber CEO Discuss Ways to Help India Become $5 Trillion Economy
According to the statement, Khosrowshahi emphasised the importance of India to Uber's ridesharing and food delivery businesses, as well as a source for tech talent.
FM Arun Jaitley Rules Out Privatisation of State-run Banks
In light of the PNB scam that has rocked the Indian banking system since February 14, the industry chambers FICCI, ASSOCHAM and CII have urged the government to surrender its majority control of banks and allow them to function like private sector lenders...
With Rates Low, Fed Officials Fret Over Next US Recession
All this comes against a backdrop of an unexpectedly large boost from tax cuts and government spending that will drive up deficits, leaving less room for a fiscal rescue in the next recession.
India Asks Saudi Arabia for 'Reasonable' Oil Pricing
After talks with visiting Saudi oil minister Khalid Al-Falih, Petroleum Minister Dharmendra Pradhan said India is a price sensitive market and so "we must get reasonable price for crude oil and LPG" imported from the OPEC nation.
Indian Bonds, Rupee Weaken as MPC Minutes Suggest Increased Inflation Concerns
India's benchmark 10-year bond yield rose as much as 11 bps in early trade to 7.82 percent. Yield was at 7.78 percent at 0353 GMT.
Odisha Government Amends Policy to Provide Bauxite to Vedanta
According to the amendment made by the Cabinet, 70% of the saleable stock of bauxite will be made available for long-term linkage and the balance 30 per cent sold through national e-auction.
Moody's Places PNB Under Review for Downgrade, Fitch Puts Viability on 'Rating Watch Negative'
The fall in rating comes after diamond merchant Nirav Modi and Gitanjali Gems’ chief Mehul Choksi were involved in fraudulent transactions worth more than Rs 11,000 crore through Punjab National Bank.
Gitanjali Gems’ CFO Chandrakant Karkare, VP & Board Member Quit
Its board member Krishnan Sangameswaran has also resigned, the company added. The company's website was not accessible and said it was "currently undergoing scheduled maintenance".
Sensex Slips 131 Points in Early Trade, PNB Shares Drop Another 5 Percent
Shares PNB remained under selling pressure and lost another 5.25 per cent.
Separate Medical Devices from Drugs Through New Act: Biopharma CEOs to Govt
CEOs of medical devices firms stated that India must abide by globally harmonised standards like ISO and IEC which will allow Indian firms to export medical devices and ensure safety of Indian patients.
