Business News

Maruti Becomes Largest Exporter Of Passenger Cars From India

Press Trust of India | Sunday October 22, 2017

In the April-September period this fiscal, Maruti Suzuki India (MSI) exported 57,300 units of passenger cars as against 54,008 units in the year-ago period, up 6 per cent, according to the latest data by Society of Indian Automobile Manufacturers (SIAM).

Some Rejig In GST Rate Structure Required: Hasmukh Adhia

Press Trust of India | Sunday October 22, 2017

The Goods and Services Tax (GST), which amalgamates more than a dozen central and state levies like excise duty, service tax and VAT, will take about a year to stabilise, he told PTI.

Banking Sector Stares At Additional Rs 40,000 Crore NPAs

Press Trust of India | Sunday October 22, 2017

The Reserve Bank has directed certain reclassifications in the private sector lender's asset classification and provisioning as on March 2017, subsequent to the annual Risk Based Supervision (RBS) exercise conducted for 2016-17.

Air India May Renegotiate Contracts With Key Vendors

Press Trust of India | Sunday October 22, 2017

Air India chief Rajiv Bansal, who has been working on ways to improve the airline's on time performance (OTP) and prune costs on various fronts, has set up a task force comprising four teams to put together a strategy before engaging with vendors, according to a source.

EPFO To Consider Crediting ETF Units To PF Accounts

Press Trust of India | Sunday October 22, 2017

The official said that the issue was listed on the agenda of the CBT meeting held earlier this year and was referred to the Comptroller and Auditor General (CAG).

Air Purifiers Companies Betting Big On Post Diwali Sales

Business | Press Trust of India | Sunday October 22, 2017

Although, the makers such as Eureka Forbes, Panasonic, Sharp, Blueair and Groupe SEB are expecting a good sales growth in all leading tier I cities, they are expecting Delhi /NCR region to lead the market this season.

New India Assurance's Rs 10,000 Crore IPO To Hit Market In November

Business | Press Trust of India | Sunday October 22, 2017

The offer comes soon after the Rs 11,370 crore IPO of GIC Re, which will be listed on October 25. It has already been oversubscribed by over 1.35 times.

To Curb Money Laundering, Banks To Now Match Original IDs With Photocopies

Business | Press Trust of India | Sunday October 22, 2017

The Department of Revenue in the Finance Ministry has issued a gazette notification making an amendment to the Prevention of Money-laundering (Maintenance of Records) Rules.

How Cyrus Mistry Was Sacked: Former Tata Executive Reveals In Blog

Business | NDTV Profit Team | Sunday October 22, 2017

In October last year, Cyrus Mistry was fired as Tata Sons chairman.

India's GVA Growth May Rise To 6.3% In September Quarter: Nomura

Press Trust of India | Sunday October 22, 2017

Nomura's proprietary indices suggest that growth bottomed out in the second quarter and a recovery is underway in the third quarter, largely because consumption and investment indicators have improved in the third quarter.

Facing Coal Shortage, Nalco Closes Captive Power Plant

Press Trust of India | Saturday October 21, 2017

While the aluminium major required at least 17,500 MT of coal everyday, it is getting only 13,000 MT from Bharatpur mines of Mahanadi Coalfields Ltd.

Government Fixes Sovereign Gold Bond Rate At Rs 2,971 Per Gram

Press Trust of India | Saturday October 21, 2017

For the subscription period from October 23-25, the issue price will be Rs 2,971 per gram with Settlement on October 30, a Finance Ministry statement said.

RBI Says Linking Aadhaar Number To Bank Accounts Mandatory

Thomson Reuters | Saturday October 21, 2017

RBI said that anti-money laundering rules announced in June 2017 have "statutory force" and banks have to implement them without awaiting further instructions.

Gold Tumbles By Rs 100 On Global Cues

Press Trust of India | Saturday October 21, 2017

Traders said apart from a weak trend overseas, hurt by a stronger dollar, easing demand from local jewellers and retailers at domestic spot market mainly weighed on the gold prices.

Japanese Firm Sues Apple Over 'Animoji' Feature In iPhone X

Indo-Asian News Service | Saturday October 21, 2017

Emonster owns an iOS app called "Animoji" that lets people send emoji that are animated in a loop like GIFs.

GSTN Starts Offline Utility For GSTR-3B Filing

Press Trust of India | Friday October 20, 2017

Taxpayers can download the offline utility from the GSTN portal under the download section and after fill in the data.

India's Oil Imports Hit Record High In September: Report

Business | Reuters | Friday October 20, 2017

During the first nine months of the year India's oil imports rose 1.8 percent to about 4.4 million bpd, with most supplies coming from the Middle East, followed by Africa and Latin America.

Forex Reserves Reclaim $400 Billion Mark

Business | Indo-Asian News Service | Friday October 20, 2017

Forex reserves kitty increases by $1.50 billion as on October 13, 2017, official data shows.

India's Fuel Demand Up 10% In September

Press Trust of India | Friday October 20, 2017

The world's fastest growing oil consumer used 16.25 million tonnes of petroleum products in September as compared to 14.78 MT in the same period a year ago, according to data released by the oil ministry.

500 Long Distance Trains To Run Quicker From Next Month

Press Trust of India | Friday October 20, 2017

Following directions from Railway Minister Piyush Goyal earlier this month, the national carrier incorporated "innovative timetabling" under which running time of popular trains will reduce by 15 minutes to two hours.

Government Notifies Rules For Registered Valuers

Press Trust of India | Friday October 20, 2017

The corporate affairs ministry has proposed to specify the Insolvency and Bankruptcy Board of India (IBBI) as the authority with respect to registration, recognition and ancillary matters related to valuers.

This Little Known Startup Is World's Fourth Most Valuable

Business | Bloomberg News | Friday October 20, 2017

In the latest funding, the company received money from Canada Pension Plan Investment Board, Trustbridge Partners, Tiger Global Management, Coatue Management and the Singaporean sovereign wealth fund GIC.

PNB Housing Seeks Board Approval To Raise Rs 12,000 Crore, Shares Fall

Business | Press Trust of India | Wednesday October 18, 2017

Shares of the firm closed 10.55 per cent lower at Rs 1482.20 on BSE.

3 Killed In Shooting At Business Park In Maryland. Hunt On For Suspect

World News | NDTV News Desk | Wednesday October 18, 2017

Three people have died and two are injured after a shooting at a business park in Maryland in the US, according to a report by news agency Associated Press.

Likely To Stick To Fiscal Deficit Target, Prime Minister's Adviser Says

Thomson Reuters | Tuesday October 17, 2017

Economic growth slipped to its lowest level in three years in the first quarter, logging an annual rate of 5.7 percent

Reliance Retail To Be Biggest Threat To Amazon, Flipkart: Former Infosys CFO

Press Trust of India | Tuesday October 17, 2017

Consolidation would be the name of the game in e-commerce space next year, with small firms shutting shop, leaving fewer players in an environment of intense competition, former CFO of Infosys TV Mohandas Pai said.

IndiGo Forays Into Regional Markets

Indo-Asian News Service | Monday October 16, 2017

With an aim to enhance connectivity to these cities, IndiGo will deploy its ATR fleet of ATR 72-600 aircraft in a phased manner, it said.

40% Drop In Sales Ahead Of Diwali, Says Traders Body

Press Trust of India | Monday October 16, 2017

With just 3 days for Diwali, "markets across the country are gloomy, having a deserted look with very less festivity and less foot fall of the consumers", resulting in 40 per cent drop in sales in comparison to last year, Confederation of All India Traders (CAIT) said in a statement.

Latest On Air India Sale In 10 Points: Government Prefers Domestic Buyer

Business | NDTV Profit Team | Monday October 16, 2017

The government would prefer selling Air India, its debt-laden carrier to a domestic buyer, news agency Reuters reported citing a government source on Monday. It is mulling to sell the airline's various businesses - which include ground-handling, domestic operations and international flights - in parts, the report added. The state-run carrier, which...

Daimler Could Soon Split From Mercedes-Benz. Here's Why

Reuters | Monday October 16, 2017

Daimler was considering putting parts of its business into separate legal entities, spurring talk of a possible break up as the group looks to fund big investments in autonomous and electric cars.