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Budget 2017

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Business News

  • `Singapore most favoured destination to invest for Indian cos`

    'Singapore most favoured destination to invest for Indian cos'  

    Indian firms' total direct overseas investment increased by 32 percent to USD 2.49 billion in December, with Singapore emerging as the top destination.

    22 Jan 2017, 12.24 pm  |  Source: PTI

  • Meru ups the ante against Ola & Uber with new services

    Meru ups the ante against Ola & Uber with new services  

    To compete with app-based taxi hailing services such as Ola and Uber, Meru Cabs has restructured its service offering and introduced new cab categories that can be booked through its revamped mobile application Meru Cabs.

    22 Jan 2017, 12.24 pm  |  Source: PTI

  • Amway India forays into durables, launches premium cookware

    Amway India forays into durables, launches premium cookware  

    Direct selling firm Amway India has forayed into premium cookware range with the launch of its 'Amway Queen' brand, targeting Rs 100 crore revenue from the new category this year.

    22 Jan 2017, 12.24 pm  |  Source: PTI

  • Toyota expects note ban to take the wind out of its sales

    Toyota expects note ban to take the wind out of its sales  

    Japanese carmaker Toyota is expecting its vehicle sales in India to remain flat during the current year mainly on account of uncertainty in the market post demonetisation.

    22 Jan 2017, 11.38 am  |  Source: PTI

  • Steel cos seek removal of import duty, cess on coking coal

    Steel cos seek removal of import duty, cess on coking coal  

    Steel makers like Tata Steel and Visa Steel have sought removal of import duty and clean energy cess on coking coal and giving thrust to domestic infrastructure forecasting tepid global demand next year.

    22 Jan 2017, 11.02 am  |  Source: PTI

  • General Motors freezes investments on new products for India

    General Motors freezes investments on new products for India  

    Struggling to make a turnaround in India, General Motors has put on hold its investments on new models for the country as the US auto major undertakes a full review of its future product portfolio here.

    22 Jan 2017, 10.12 am  |  Source: PTI

  • Tata Comm Netherlands invests in Teleena; holds 35% stake

    Tata Comm Netherlands invests in Teleena; holds 35% stake  

    Tata Communications today said Tata Communications (Netherlands) has made an investment in the Netherlands-headquartered Teleena Holding, becoming the single largest shareholder in the company with 35 per cent stake.

    21 Jan 2017, 5.32 pm  |  Source: PTI

  • Sahara boss` parole costs SEBI over Rs 3 lakh a month

    Sahara boss' parole costs SEBI over Rs 3 lakh a month  

    SEBI has deployed constables to keep tabs on Sahara chief Subrata Roy, who owes the country's market regulator Rs 12,000 crore.

    21 Jan 2017, 3.28 pm  |  Source: Moneycontrol.com

  • Looking for bigger partnership with Cipla: Serum Institute

    Looking for bigger partnership with Cipla: Serum Institute   

    Adar Poonawala, CEO of Serum Institute, believes that a bigger partnership with Cipla will create a big Indian conglomerate. However, he added that the Cipla promoters currently have no plans for a merger and acquisition.

    21 Jan 2017, 2.51 pm  |  Source: CNBC-TV18

  • BSE raises Rs 373 crore from anchor investors

    BSE raises Rs 373 crore from anchor investors  

    Among the anchor investors are Goldman Sachs Asset Management, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Citigroup, IDFC Mutual Fund, DSP Blackrock, Capital World, Reliance Capital Trustee Company and Kuwait Investment Auth...

    21 Jan 2017, 10.00 am  |  Source: PTI

  • CCI penalty to shave off profit of cement cos by 2%: ICRA

    CCI penalty to shave off profit of cement cos by 2%: ICRA  

    The Competition Commission of India's penalty of Rs 206 crore on seven cement companies is likely to shave off "under 2 percent of operating profits" of the players, India Ratings and Research (Ind-Ra) said today.

    20 Jan 2017, 10.02 pm  |  Source: PTI

  • Tata JLR fined 900,000GBP after worker lost leg in UK factory

    Tata JLR fined 900,000GBP after worker lost leg in UK factory  

    Tata Motors-owned Jaguar Land Rover (JLR) was today fined 900,000 pounds after a worker lost his leg in an accident, described as "completely avoidable" by the court, at one of the company's UK factories nearly two years ago.

    20 Jan 2017, 10.00 pm  |  Source: PTI

  • SBI eyes up to $1.5 billion capital raising in next fiscal

    SBI eyes up to $1.5 billion capital raising in next fiscal  

    India's biggest lender by assets, State Bank of India, could tap capital markets next fiscal year to raise up to USD1.5 billion, its chief said on Friday, though it first needs to complete a planned merger with its subsidiary bank...

    20 Jan 2017, 9.54 pm  |  Source: Reuters

  • See no threat from Netflix or Amazon Prime in India: PVR Chief

    See no threat from Netflix or Amazon Prime in India: PVR Chief  

    “Cinema business has been consistently growing in US, which is the most saturated market in the world when it comes to such online video platforms. In the US, they are not building new cinemas. Instead they are reducing cinemas ...

    20 Jan 2017, 9.34 pm  |  Source: Moneycontrol.com

  • In a volte-face, NPCI now asks Flipkart to follow UPI norms

    In a volte-face, NPCI now asks Flipkart to follow UPI norms  

    A day after asking ICICI Bank to give access to Flipkart's e-wallet PhonePe, the RBI-promoted National Payment Corporation (NPCI) did a volte-face today and said it is Flipkart's e-wallet that is in contravention of the intero...

    20 Jan 2017, 9.32 pm  |  Source: PTI

  • Govt infra spending to boost construction sector: ICRA

    Govt infra spending to boost construction sector: ICRA  

    The order book of construction companies is expected to improve with the government awarding sizable infrastructure projects over the last two years and many in the pipeline, rating agency ICRA said.

    20 Jan 2017, 9.32 pm  |  Source: PTI

  • NSDL to shortly seek final RBI go-ahead for payments bank

    NSDL to shortly seek final RBI go-ahead for payments bank  

    "We have complied with all the requirements for the final licence and will be making the final application for the payments bank very soon," Managing Director and Chief Executive GV Nageswara Rao told reporters.

    20 Jan 2017, 9.32 pm  |  Source: PTI

  • Green bond issuance to top USD 206 bn in 2017: Moody`s

    Green bond issuance to top USD 206 bn in 2017: Moody's  

    The increase in green bond issuances reflect strong China-based issuances and momentum from the Paris Climate agreement, Moody's Investors Service said.

    20 Jan 2017, 9.32 pm  |  Source: PTI

  • AT&T to post $1 bn loss in Q4 on pension, retirement plans rejig

    AT&T to post $1 bn loss in Q4 on pension, retirement plans rejig  

    (Reuters) - AT&T Inc, the largest U.S. pay TV operator, said on Friday it would record a pre-tax loss of about USD1 billion in the fourth quarter, related to an annual remeasurement of pension and post-employment benefit plans.

    20 Jan 2017, 9.29 pm  |  Source: Reuters

  • Ford to record pre-tax remeasurement loss of USD3 bln in 2016

    Ford to record pre-tax remeasurement loss of USD3 bln in 2016  

    The US automaker said the remeasurement loss will not impact Ford's adjusted pre-tax profit or adjusted earnings per share in 2016, and will be recognized as a special item.

    20 Jan 2017, 9.28 pm  |  Source: Reuters

  • Chennai Petroleum to shut crude unit, hydrocracker for a month

    Chennai Petroleum to shut crude unit, hydrocracker for a month  

    Chennai Petroleum Corp will shut a 74,000 barrel per day (bpd) crude unit and some secondary units at its Manali refinery for a month from the last week of January for maintenance and upgrade, a source with knowledge of the plan s...

    20 Jan 2017, 9.26 pm  |  Source: Reuters

  • R`sthan inks pact with Cairn India for water conservation proj

    R'sthan inks pact with Cairn India for water conservation proj  

    Rajasthan government has signed today an MoU worth Rs 1.20 crore with Cairn India for second phase of water conservation project in Barmer, under Jal Swavlamban Yojna.

    20 Jan 2017, 9.12 pm  |  Source: PTI

  • Govt invites bids from advisers for selling 26% in BEML

    Govt invites bids from advisers for selling 26% in BEML  

    Government has kick-started the process of strategic sale of 26 percent equity in BEML, inviting bids from advisers on the issue.

    20 Jan 2017, 8.48 pm  |  Source: PTI

  • SBI raises Rs 5,681 cr by issuing preference shares to govt

    SBI raises Rs 5,681 cr by issuing preference shares to govt  

    State Bank of India (SBI) today raised Rs 5,680.99 crore by issuing preferential shares to the government.

    20 Jan 2017, 8.28 pm  |  Source: PTI

  • Air India will register operational profit this fiscal: Sinha

    Air India will register operational profit this fiscal: Sinha  

    Union Minister of State for Civil Aviation Jayant Sinha today expressed confidence that national carrier Air India will register operational profit in the current fiscal.

    20 Jan 2017, 7.58 pm  |  Source: PTI

  • JK Paper exits paper JV, sells stake to Japanese partner

    JK Paper exits paper JV, sells stake to Japanese partner  

    JK Paper today said that it has exited from its JV, Oji JK Packaging Private Ltd, by selling its share to Japan-based Oji Holdings Corporation

    20 Jan 2017, 7.58 pm  |  Source: PTI

  • Withdrawal limits to ease by Feb-end; 6.7% GDP growth seen: SBI

    Withdrawal limits to ease by Feb-end; 6.7% GDP growth seen: SBI   

    On the upcoming Budget, Arundhati Bhattacharya, chairman of SBI said that investment and consumption should get equal focus.

    20 Jan 2017, 7.17 pm  |  Source: CNBC-TV18

  • TV ad spends growth to be muted in CY 2016: Brokerage firm

    TV ad spends growth to be muted in CY 2016: Brokerage firm  

    TV ad spends growth could be muted at 10 per cent this calendar year (CY) as against 14-19 per cent growth over the past 3-4 years, largely dragged down by weak volume growth of the FMCG sector, according to domestic brokerage...

    20 Jan 2017, 6.46 pm  |  Source: PTI

  • Kwality partners Bank of Baroda for Rs 4k cr loan to farmers

    Kwality partners Bank of Baroda for Rs 4k cr loan to farmers  

    Dairy firm Kwality Ltd today said it has signed an agreement with Bank of Baroda for providing Rs 4,000 crore loans to the former's one lakh farmers from whom the company procures milk.

    20 Jan 2017, 6.00 pm  |  Source: PTI

  • Govt asks Aircel to port 2G customers if SC order adverse

    Govt asks Aircel to port 2G customers if SC order adverse  

    The government has asked Aircel to help its 2G mobile customers port their numbers to other telephony operators in case the Supreme Court was to pass an adverse order

    20 Jan 2017, 5.48 pm  |  Source: PTI

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