An Empowered Group of Ministers (EGoM), headed by Finance Minister Pranab Mukherjee, will meet on June 5 to decide on the base price for the much-awaited auction of telecom spectrum. "The EGoM will meet on June 5," Department of Telecom Secretary R Chandrashekhar told reporters here.
Ahead of RBI's mid-quarterly policy review, State Bank of India today said a cut in cash reserve ratio (CRR) will give a room to banks for lowering interest rates."More the RBI cuts CRR, greater will be the ability of banks to reduce rates," SBI Chairman Pratip Chaudhuri told reporters here.
Air India, which is operating a curtailed global flight schedule due to the pilots' strike, is likely to reopen international bookings and firm up a fresh operating schedule by this weekend with the help of 130 executive pilots.
State-run Oil India is looking to buy stakes in U.S. gas driller Chesapeake Energy Corp.'s Mississippi Lime basin and ConocoPhillips' oil sand assets in Canada, its head of finance said on Monday.
The finance ministry has finalised its reply to Vodafone's pre-arbitration notice invoking the Bilateral Investment Protection Agreement (BIPA) with Netherlands, reports CNBC-TV18 quoting sources.
Germany's stance on European issues in June is going to be critical to the world economy. the bets are more in favor of a solution which is to kick the can, open up the flood gates of Eurobonds, print money and Germany playing a significant role in solving the problem.
The GSM Association (GSMA) on Monday urged the government to "listen" to the mobile telephony industry and set a "fair" price for new spectrum
Finance Minister Pranab Mukherjee today parried a question on whether the government would roll back the price hike of petrol. Asked whether petrol price hike would be rolled back, the Minister said, "Petroleum Minister (S Jaipal Reddy) has already explained in detail the position in respect of increase in petroleum prices. I have nothing to add".
Days after raising petrol price by a steep Rs 7.54 a litre, nation's largest oil firm Indian Oil Corp (IOC) hinted at a Rs 1.25-1.50 per litre cut in rates later this week.
US private equity firm Apollo Global Management LLC and ICICI Venture, the private equity arm of No.2 Indian lender ICICI Bank , are close to raising USD 350 million to invest in distressed assets in India, two sources with direct knowledge of the matter told Reuters.
The Finance Ministry is considering raising the excise duty on diesel cars. The suggestion was mooted long back by the Oil Ministry. This came after the inter ministerial group on inflation and diesel pricing options met on Monday.
State-run Indian Oil Corp has said it will cut petrol prices if fortnightly review shows a lower trend.
Ranbaxy Laboratories has received US approval for acne treatment drug Absorica and expects a US launch in the fourth quarter of this year.
With the delivery of new- generation Boeing 787 Dreamliner aircraft scheduled soon, the issue of over USD 700 million compensation from US manufacturer Boeing for delaying its delivery came up for detailed discussion at the Air India Board meeting here today.
Two days after Gurgaon court rejected the anticipatory bail plea of Subhinder Singh Prem, Reebok India's former managing director, CNBC-TV18 learns that the accused is now preparing to move the Chandigarh High Court against the district court's order.
Tata Motors today said it has signed a distribution agreement with Apex Greatest Industrial Co Ltd (AGI), Myanmar, for selling its commercial vehicles and passenger cars in the country.
London-listed oil explorer Jubilant Energy has won an onland exploration block in Myanmar, the agreement for which was signed here today.
Homegrown auto major Mahindra & Mahindra (M&M) today said it will re-open bookings for its model XUV500 next month and has increased output of the sports utility vehicle to 4,000 units a month.
Farmers in northern desert states are scrambling to harvest as much as they can of a bean with the power to lift them out of poverty. In the United States, the multi-billion dollar shale energy industry is banking on their success.
The Department of Industrial Policy and Promotion (DIPP) is likely to tweak foreign direct investment norms in single-brand retail, CNBC-TV18 said quoting sources.
Anil Ambani-promoted Reliance Infrastructure (RInfra) has said it is expecting almost three-fold rise in revenue from the infra vertical to Rs 1,000 crore this fiscal.
Bharti Airtel said on Sunday it would roll out 3G services in Rwanda in the next quarter and reiterated plans to invest USD 100 million in the central African country.
Amid widening price difference between petrol and diesel, the Finance Ministry is looking at the possibility of raising excise duty on diesel cars, a suggestion which was mooted long back by the Oil Ministry.
Habil Khorakiwala, chairman of Wockhardt says, the company‘s EBITDA margin is increasing QoQ for nine consecutive quarters. "We believe that we should be able to maintain the margin, if not improve upon it," he adds.
In an interview to CNBC-TV18, Gautam Gandhi, head-new business development at Google India is very excited about the India market. â€œThe growth here is just phenomenal."