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Oct 12, 2018 09:19 PM IST | Source: Moneycontrol.com

News LIVE: Defence Minister Nirmala Sitharaman visits the Rafale facility in France

This blog will keep track of breaking news and important developments through the day

  • Oct 12, 11:07 PM (IST)

    That's all for today, readers. Thanks for staying on with our coverage of the day's action. Your enthusiasm encourages us to better our coverage every day. Do come back tomorrow for more news, views and insights.

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  • Oct 12, 08:20 PM (IST)

    China's Huawei to invest $145 mn in cloud business over 3 years

    China's Huawei Technologies Co Ltd, the world's largest telecom-equipment maker, plans to invest 1 billion yuan ($145 million) over the next three year to develop AI capabilities for its cloud business, it said on Friday.
    Zheng Yelai, president of Huawei's cloud unit, also said the company planned to start offering public cloud services in South Africa, as it is "a strong base" from which to develop cloud businesses. - Reuters

  • Oct 12, 08:17 PM (IST)

    India needs to expedite structural reform process by building consensus: IMF officials

    India should expedite the structural reform process by working to build consensus, according to senior IMF officials who said the country needs land and labour market reforms to achieve sustained growth.
    Changyong Rhee, Director of the Asia and Pacific Department at the IMF, said that India has some world-class economists and there is no dearth of good policies, the issue is with their implementation. - PTI

  • Oct 12, 08:02 PM (IST)

    Negligible impact seen on internet service: ICANN

    Global Internet body ICANN said on Friday that it has noted only a handful of cases where net services might have been affected due to the upgradation of 'keys' at vital web servers on October 11. - PTI

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    India keen on strengthening economic ties with Liechtenstein: President Ramnath Kovind

    India is keen on strengthening its economic relations with Liechtenstein, President Ramnath Kovind said on Friday.
    He said this during a meeting with Prince Alois of Liechtenstein, who had called on the president at the Rashtrapati Bhavan.
    Kovind said this is a very special visit as the two countries are celebrating the 25th anniversary of the establishment of diplomatic relations. - PTI

  • Oct 12, 06:48 PM (IST)
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    Lockheed Martin to start producing made-in-India F16 wings in next 2-3 years

    American aerospace and defence major Lockheed Martin on Friday said F-16 fighter jets will start flying with made-in-India wings in the next three years.
    But this is provided the components made by its Indian strategic industry partner are certified by a US agency - the Defense Contract Management Agency. - PTI

  • Oct 12, 06:43 PM (IST)

    Microsoft India signs pact with Niti for AI tools in agri, healthcare

    Microsoft India said on Friday it has signed an agreement with NITI Aayog to deploy AI technologies to address challenges in agriculture and healthcare and promote the adoption of local language computing, among others. 
    The agreement involves combining the cloud, AI, research and Microsoft's vertical expertise for new initiatives and solutions across several core areas, the company said in a statement. - PTI

  • Oct 12, 06:40 PM (IST)

    Nirmala Sitharaman visits Rafale manufacturing facility in France

    Defence Minister Nirmala Sitharaman on Friday visited a production facility of Dassault Aviation near Paris, where the Rafale jets to be supplied to India are being manufactured.
    Sitharaman spoke to the plant's officials and took stock of progress in the production of the fighter jets whose delivery to India will begin in September next year. - PTI

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    JUST IN | PM reviews oil, gas production profile of ONGC, OIL

    Prime Minister Narendra Modi on Friday reviewed the oil and gas production profile of state-owned ONGC and OIL over the near to medium term to assess how his target to cut oil imports by 10 percent would be met.
    Oil and Natural Gas Corp (ONGC) Chairman and Managing Director Shashi Shanker and Oil India Ltd (OIL) Chairman and Managing Director Utpal Bora gave projections of oil and gas production of their respective companies over the next five-year period. - PTI

  • Oct 12, 05:36 PM (IST)

    JUST IN | IL&FS holds second board meeting, nominates new directors

    The Board of IL&FS Ltd, appointed on the orders of the National Company Law Tribunal (NCLT) Mumbai, had its second meeting today.
    The replacement of its nominee directors on various subsidiaries of IL&FS Ltd has been initiated, as permitted by the orders of the NCLT. 
    It has now nominated directors from among the present Board, based on recommendations of the Nominations & Remuneration Committee.
    A core operating committee, under the Vice Chairman and managing director Vineet Nayyar, has been approved by the Board.

  • Oct 12, 05:28 PM (IST)

    JUST IN | MTNL gets shareholders' nod to raise authorised share capital to Rs 10k cr

    State-run telecom firm MTNL Friday said its shareholders have approved proposals to raise authorised share capital by over 12 times to Rs 10,000 crore and borrowing limit by around 38 percent to Rs 25,000 crore.
    The resolution to raise the borrowing powers of the board from Rs 18,000 crore to Rs 25,000 crore was passed as a special resolution. 
    "A total of 99.9203 percent shareholders voted in favour of the resolution," it said. The decisions were taken at the company's AGM Thursday. - PTI

  • Oct 12, 05:17 PM (IST)

    Hindustan Unilever second-quarter profit jumps nearly 20 pct, beats estimates

    Consumer major Hindustan Unilever Ltd reported a 19.5 percent rise in its September-quarter profit, beating analysts' estimates, as sales at its home-care segment jumped.
    Profit rose to 15.25 billion rupees ($207.08 million) in the three months ended September 30, compared with 12.76 billion rupees a year earlier, the company said in a statement. - Reuters

  • Oct 12, 05:13 PM (IST)

    JUST IN | Catalonia's separatist front shatters

    Catalonia's separatist parties that brought the region to the brink of breaking away from Spain a year ago, shattered their united front this week in a struggle over strategy toward independence.
    The separatists on Tuesday lost the majority they have enjoyed in the Catalan parliament since September 2015 due to a rift over how to respond to a court suspension of six jailed or exiled lawmakers accused of rebellion. - PTI

  • Oct 12, 05:02 PM (IST)
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