Business Blogs News - Page 29

Reaching $5 trillion GDP target by 2025 at current growth rate 'simply out of question', says former RBI governor C Rangarajan

The Narendra Modi government soon after assuming office for the second term has set a target of taking the economy to $5 trillion over the next five years.

Markets open on a cautious note: Sensex turns choppy, Nifty below 12,000-mark; Infosys among top losers, falls up to 3%

After opening on a positive note, Sensex turned choppy to trade 15.89 points, or 0.04 percent, lower at 40,559.28

National Highway Authority to start electronic toll collection with FASTag before deadline: Govt

The National Electronic Toll Collection (FASTag) programme has been implemented nationally to remove bottlenecks and ensure seamless movement of traffic

With RBI at the helm, lenders expect faster DHFL resolution; regulator-driven IBC process will accelerate case, say analysts

The comments come a day after the RBI invoked the provisions of the recently notified provisions in the IBC and superseded the DHFL board and appointed an administrator and said the company would go to NCLT shortly.

Reliance Industries overtakes British energy giant BP Plc to become 6th largest company in the world; now valued at $138 bn

The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark helped by the continuous rise in its share price. It overtook BP Plc to become the world’s sixth-largest energy company in terms of market capitalisation.

Markets start on tepid note: Sensex slips 37.41 points, Nifty below 12,000-mark; Bharti Airtel, Yes Bank among top losers

Top losers in the Senses pack included Bharti Airtel which fell up to 1.51 percent, Axis Bank 1.12 percent, Yes Bank 0.68 percent, RIL 0.56 percent and M&M 0.43 percent

Govt to set up unified regulator for IFSCs; bill to be introduced in Lok Sabha after withdrawal from Rajya Sabha

Currently, the banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators—the RBI, SEBI, IRDAI

SEBI tightens disclosure norms on loan defaults, reduces time for rights issue to bolster capital markets

Sebi has made it compulsory for the top 1,000 listed companies to prepare annual business responsibility reports covering their activities related to environment and stakeholder relationships

Samsung to restart manufacturing TVs in India early next year after govt rolls back custom duty on display panels

Samsung is also in discussions with other contract manufacturers to meet the demand in the Indian market as the company is the largest player in the segment

Govt gives go-ahead to biggest privatisation drive; to sell stake in BPCL, SCI, Concor to help bridge a widening fiscal gap

In the biggest privatisation drive-ever, the Union Cabinet on Wednesday approved sale of government's stake in blue-chip oil firm BPCL, shipping firm SCI and onland cargo mover Concor

Slowdown in auto sector cyclical; govt taking steps to support through release of Rs 70,000 cr to PSU banks

Citing reasons for the slowdown in the auto sector, Javadekar said an increase in axle load limit for commercial vehicles by up to 25 percent expanded freight capacity, leading to shrinkage of new vehicle demand

Reliance Capital says shareholding in RGIC transferred to IDBI Trustee Services; does not disclose financial details

The shareholding has been transfered upon invocation of pledge by the IDBI Trustee Services, Reliance Capital said in a stock exchange filing.

Vodafone Idea presses for Rs 7,000 cr tax refund; Income Tax Department hesitant in view of fresh liability

Sources said Vodafone has to receive an aggregate of about Rs 1,000 crore from Mumbai unit of the Income Tax department and another Rs 6,000 crore from its Delhi office for multiple assessment years dating back to 2004-05

Yes Bank founder Rana Kapoor, promoter entities now hold merely 900 shares in private sector lender; RBI finds bank under-reported bad loans

Yes Bank's founder Rana Kapoor and promoter entities YES Capital and Morgan Credits have sold their remaining 0.8 percent stake in private sector lender

Telecom crisis: Brokerages expect around 15% hike in tariffs for Vodafone, Bharti Airtel customers from December

Customers of Vodafone Idea and Bharti Airtel must now brace themselves with higher mobile phone bills come next month

Economy in bad shape with everything from car sales, bank loans in doldrums, but stock markets on a strong footing; what gives?

A very small section of the stock market has been driving up the overall stock market

Decriminalise 46 more offences under companies law; lower monetary penalties for startups violations, says panel report

The Company Law Committee, chaired by Corporate Affairs Secretary Injeti Srinivas, has also recommended providing power to enhance thresholds for the applicability of CSR requirements under the Companies Act, 2013

Sensex opens over 170 points higher driven by banking, telecom stocks; Nifty above 11,900-mark in early trade

After hitting a high of 40,455.36 in the early session, the Sensex pared some gains to trade 58.59 points, or 0.15 percent, higher at 40,342.78, while the broader NSE Nifty advanced 14 points, or 0.12 percent, to 11,898.50

Tata Steel plans to cut up to 3,000 jobs across European operations; two-thirds losses expected to be office-based roles

Tata Steel's quest to boost profitability follows a European anti-trust decision to block a joint venture with Germany's Thyssenkrupp

Telecom crisis deepens: Airtel, Vodafone Idea mobile service rate hikes from December to hit customers hard

Bharti Airtel on Monday said it will start raising rates for services in December to make business viable

Lawsuit against Boeing accuses board of doing nothing to investigate safety of 737 MAX aircraft

The lawsuit, brought by the Kirby Family Partnership, a Boeing investor, alleges the directors breached their fiduciary duties to shareholders

Economic slowdown: Govt to introduce new norms to ease restrictions on FDI by JVs of Indian firms to boost investment

The existing legal framework under FEMA does not permit FDI by an overseas JV or WOS of an Indian party without the prior approval of the Reserve Bank of India

Govt considering to reintroduce restrictions on royalty payments for technology transfer

Royalty is paid to a foreign collaborator for the transfer of technology, usage of brand or trademarks.

Jaypee Insolvency Case: NBCC sweetens bid by offering more land and benami flats to lenders; CoC to meet today

In 2017, Jaypee Infratech went into insolvency process after the National Company Law Tribunal (NCLT) admitted an application by an IDBI Bank-led consortium.

Anil Ambani, 4 directors resign from Reliance Communications; firm going through insolvency process

Reliance Communications Chairman Anil Ambani along with four directors have resigned from the company, which is going through insolvency process,

NITI Aayog tells stakeholders to discourage 'false claims' about agrochemicals, tackle spread of wrong perception in public

NITI Aayog member Ramesh Chand outlined the importance of responsible use of agrochemicals utilising precision technologies to reduce wastage of applied chemicals into the environment

Nirmala Sitharaman holds meeting for simplification of GST returns filing; similar meetings to be held across country from 7 December

New GST return is available on the portal for trial and consultations will be held all across the country on 7 December

Rajdhani, Shatabdi, Duronto meals to cost more from March 2020; travellers to pay high fares ranging from 3% to 9%

The tariff of food onboard Rajdhani, Shatabdi and Duronto trains was last revised in 2013.

Significant distress in China could spill over to US and global markets, says Federal Reserve; may escalate trade conflict with US

Some contacts worried about a deterioration in broader US-China relations, rooted in technology and national security issues, said the Fed Reserve report