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The Trade Remedies Authority of Việt Nam on Friday announced that India has initiated an anti-dumping investigation concerning imports of viscose spun yarn originating in or exported from three countries, including Việt Nam, China and Indonesia. According to the notice of the India Ministry of Commerce and Industry’s Department of Commerce issued on Tuesday, the investigation was based on a complaint filed by the Indian Manmade Yar…


A new entrepreneurial force is taking your dining-out decisions for you. Veer Arjun Singh meets some of the people driving it Whether you gravitate towards your favourite bar for a cosy drink or pick a new gastropub in town to knock back a few, chances are you are being lured by the same set of people. They likely also own your favourite café and the new Asian bistro that you have been meaning to visit. They are feeding your Instagram and …


The Enforcement Directorate has taken custody of Anil Sharma and Shiv Priya for seven days following a Supreme Court direction. They will now be questioned how they siphoned the investors' money The Enforcement Directorate reportedly has taken two directors of Amrapali Group into custody for questioning. Earlier this week, Supreme Court had granted the financial probe agency to take Amrapali CMD Anil Sharma and director Shiv Priya&…


Six of the top-10 most valued Indian firms together added ₹62,772.95 crore in market valuation last week, with HUL and RIL emerging as the biggest gainers. Among the top 10, Reliance Industries, TCS, HUL, Infosys, Kotak Mahindra Bank and ITC witnessed gains in their market capitalisation (m-cap) for the week ended Friday, while HDFC Bank, HDFC, ICICI Bank and SBI suffered losses. HUL's valuation zoomed by ₹22,827.94 crore to …


When shadow bank Infrastructure Leasing & Financial Services Ltd (IL&FS) went belly up in August-September of 2018, sending shockwaves through India’s financial system, the IL&FS Financial Centre in Mumbai’s Bandra Kurla Complex commercial district witnessed a flurry of activity. There were raids by law enforcement. The high profile management personnel of the company were arrested from there......


‘Wings India 2020’, a civil aviation expo, to be held at Hyderabad from March 12-15 “Over the last decade, India has witnessed a robust civil aviation market, and through ‘Wings India 2020’ we aim to provide a congenial forum that will cater to the rapidly changing dynamics of the sector, focusing on new business acquisitions, investments, policy formation and regional connectivity,” said Pradeep Singh Kharola,…


Enforcement Directorate (ED) has filed a prosecution complaint against former top management of Bhushan Power and Steel Limited (BPSL) including Sanjay Singal, the then Chairman and Managing Director of BPSL and 23 others based in Delhi, Mumbai and Kolkata. Accused Sanjay Singal who was arrested ED on November 22 last year, is in judicial custody. During the Prevention of Money Laundering (PMLA) investigation, ED has provisionally attached procee…


The regulator is also holding regular meetings with airlines, ground handlers, and other service providers like oil-marketing companies and catering companies The Directorate General of Civil Aviation (DGCA) is expanding its drive against unsafe ground handling practices at airports, aiming to achieve near-total compliance of norms in the next three months. “Initially, we focussed on 10 major airports, but now the drive will also include Ja…


Gujarat Chief Minster Vijay Rupani flagged off Mumbai- Ahmedabad Tejas Express on Friday morning. The commercial run of the train will start from January 19.  Tejas Express will cover the distance in six and half hours. This is the second premium train by IRCTC after Delhi-Lucknow Tejas Express. The train will halt at Nadiad, Vadodara, Bharuch, Surat, Vapi and Borivali stations in both directions. The tickets can be booked only online via IR…


Private sector lender HDFC Bank Ltd is likely to send a shortlist of candidates to the Reserve Bank of India (RBI) by July-August, seeking approval for a replacement of outgoing managing director Aditya Puri, said a senior bank official on Saturday. Speaking to analysts after the bank’s December quarter results, Sashidhar Jagdishan, executive director, HDFC Bank, said that the board of directors on Saturday has agreed upon the search firm…


A boost from other income, one-off recovery and lower tax, aid earnings Given the persisting challenges within the banking sector, HDFC Bank’s December quarter performance lends comfort on several parameters. A strong 20 per cent growth in loans (when bank credit growth at aggregate sector level is just 7 per cent), near 33 per cent rise in net profit, strong capital ratios and only a marginal increase in GNPA ratioare key positives that c…


Now that Washington and Beijing have a phase one trade deal, Mastercard could be a beneficiary in China These are good times for Mastercard, and they could get better. The "technology company", as the world's No. 2 credit card and payment processing firm likes to style itself, is slated to report another stellar year in two weeks' time, after three fine quarters last year.....


 New Asian Development Bank (ADB) president Masatsugu Asakawa assumed office yesterday, becoming the 10th president of the Manila-based multilat­eral bank since its establishment in 1966. Asakawa succeeds Takehiko Nakao who stepped down on Jan. 16. “I am honored to assume the role of ADB president and to begin working in close cooperation with our 68 member countries. ADB has been a trusted part­ner of the region for more than …


India's most-valued company Reliance Industries reported a 13.5 per cent rise in net profit for the quarter ended December 31, 2019, after a turnaround in oil refining business coupled with the continued rise of retail and telecom arms. In a regulatory filing on Friday, Mukesh Ambani-led oil-to-telecom conglomerate declared consolidated net profit of Rs 11,640 crore for the quarter under review, as opposed to Rs 10,251 crore i…


Beating India's financial capital Mumbai, IT hub and startup capital Bengaluru took the highest home loan and personal loan in the country, according to a market report. The highest home loan ticket size in India during 2019 was ₹2.2 crore while Mumbai stood second at ₹2 crore, BankBazaar Moneymood 2020 report said. Similarly in the personal loan segment, someone from Bengaluru walked away with the highest personal loan of…


Nehru had 'personality-driven working style' and centralised power in the hands of bureaucrats Jawaharlal Nehru and Indira Gandhi had 'personality-driven working styles' and centralised power in the hands of a few bureaucrats, an Atal Bihari Vajpayee Fellow at Nehru Memorial Museum and Library has claimed.Speaking about his research, 'the Prime Ministers' Office during the Congress years', Himanshu Prasad Roy claimed in New Delhi on Friday that N…


The country foreign exchange reserves rose by $ 58 million to reach a life-time high of $ 461.21 billion in the week to January 10, according to the data compiled by the Reserve Bank of India (RBI). In the previous week, the reserves had increased by $3.689 billion to $461.15 billion. In the reporting week, the reserves rose despite a decline in foreign currency assets (FCA), which is a major component of the overall reserves.....


The Amazon CEO discusses issues surrounding technology, data privacy concerns and global alliances; business leaders who attended the meeting included Reliance Chairman and MD Mukesh Ambani, Godrej Group Chairman Adi Godrej, Bharti Airtel Chairman Sunil Mittal, among others Amazon founder and Chief Executive Officer Jeff Bezos held a closed-door meeting with top industry honchos during the third day of his visit in Mumbai on Friday, CNBC TV …


Yet again, the consumer businesses of Reliance Industries (RIL) — digital and retail — were the key growth drivers for the company. Bucking weak economic growth and subdued consumer spending, the operating profit of RIL’s retail business rose 58 per cent y-o-y, thanks to new store rollouts and higher sales at existing stores.....


Piramal Enterprises Ltd will use the proceeds from the sale of its healthcare insights and analytics business to expand its financial services vertical, seeking to take advantage of opportunities created by the liquidity crisis in the non-banking financial company (NBFC) space, said Piramal Enterprises chairman Ajay Piramal. On Friday, Piramal Enterprises informed the stock exchanges that it was selling its healthcare insights and ana…


Piramal Enterprises Ltd will use the proceeds from the sale of its healthcare insights and analytics business to expand its financial services vertical, seeking to take advantage of opportunities created by the liquidity crisis in the non-banking financial company (NBFC) space, said Piramal Enterprises chairman Ajay Piramal. On Friday, Piramal Enterprises informed the stock exchanges that it was selling its healthcare insights and ana…


Reliance Industries Ltd said on Friday its plan to close the deal to sell a 20 per cent stake in its oil to chemicals business for $15 billion to Saudi Aramco will miss the March 31 timeline announced earlier. The deal was announced in August 2019. “It will not be a deal which will get done by March,” RIL’s joint chief financial officer V Srikanth told media on Friday.


India is set to change the bank it uses to make payments for Russian arms and is likely to route the money through UCO Bank, which is also being used to carry out trade with Iran India is set to change the bank it uses to make payments for Russian arms and is likely to route the money through UCO Bank, which is also being used to carry out trade with Iran. The payments, which are complicated due to the threat of US sanctions on purchase of milita…


GSAT-30 is aimed at providing high-quality television, telecommunications and broadcasting services India's "high power" communication satellite GSAT-30, aimed at providing high-quality television, telecommunications and broadcasting services, was successfully launched onboard Ariane 5 rocket from French Guiana in the early hours of Friday, the Indian Space Research Organisation (ISRO) said here. Blasting off from the Ariane Launch Comp…


Reliance Industries Ltd (RIL) is likely to report muted earnings growth in the fiscal third-quarter as gains from its telecom and retail arm will be offset by weakness in its refining and petrochemicals business, analysts said......


Vijay Mallya faces extradition to India on fraud charges. He was granted permission to appeal, which will be heard in February. Once known as the “King of Good Times” in India, he was arrested in London in April 2017 after 17 banks accused him of willfully defaulting on the debt accumulated by the airline, which shut in 2012. ndian tycoon Vijay Mallya’s palatial island home boasts 17 bedrooms, a cinema, private helipad and even …


Trade members worried Adani Group moving towards dominant position The ports of Dhamra, Vizag, Krishnapatnam, Kattupalli and Kamarajar on the East Coast may be located in different states but have something in common ― the Adani Group......


C.P. Gurnani, MD & CEO of Tech Mahindra is leading the company forward into the digital age. Group chairman Anand Mahindra has hailed him for his people skills, energy levels and unflinching customer focus. Where does the indefatigable CEO derive his inspiration from?  Watch the video where he talks about the best advice he ever received in his life and how it set him on the path of success.......


Private sector lender RBL Bank which has raised ₹2,025.27 crore from institutional investors through a qualified institutional placement (QIP) offering, has drawn up plans to increase presence in key growth areas. In an interview, Vishwavir Ahuja, RBL Bank’s managing director and chief executive officer, lists the lender’s current priorities as it seeks to steer out of a recent spike in non-performing assets (NPAs) amid concern…


Chief of Future Group said physical and online retail channels may converge soon Kishore Biyani, chief executive of the Future Group, Thursday said that traditional offline retailing and web commerce are not as distinct as they once were, with the odds shortening that the two channels to reach end consumers would head toward total convergence in the near future."Physical stores have their own advantages and nuances and digital has its own advanta…


Verdict may force Voda-Idea to shut shop, say analysts In a setback to telecom operators Bharti Airtel and Vodafone-Idea, the Supreme Court on Thursday dismissed their plea seeking a review of its earlier order asking them to pay ₹1.47-lakh crore in past statutory dues of adjusted gross revenue (AGR) by January 23. “Applications for hearing in open court/ oral hearing are rejected. Having perused the review petition and the connecte…


All central ministries to be accommodated alongside central vista If you are troubled by traffic restrictions around 7, Lok Kalyan Marg — the Prime Minister’s residence — when the PM moves out for his daily visit to South Block, you may get some respite soon. Vacating the decades-old official residence that has been the home of nine prime ministers, the PM may move to a new home by 2024. Used since 1984 when late Rajiv Gandhi be…


Ritesh Aggarwal, Chief Financial Officer of UVARC says the company has over Rs 1,000 crore worth of assets under management, and that the CoC of Aircel has approved UVARC's takeover plan UV Asset Reconstruction Company (UVARC), which has submitted Rs 16,000 crore bid for the assets of bankrupt Reliance Communications (RCom), doesn't rule out the option of running a new telecom company in India, as their proposal for the acquisition of another ban…


It could be the next big thing for investors, too. Global players are already making forays into the segment through JVs or M&As. Japan's NTT acquired NetMagic in 2016. Europe-based Colt and Singapore-based Bridge have announced major India plans. Telcos such as Airtel and Jio also have plans to build as many as 10-15 data centres across the country. Whether data is the next oil is debatable, but what can’t be up for debate is the surge…


Finance ministry has proposed appointing a mediator and setting up fast-track courts to settle disputes between investors and the government The government is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, finance ministry has …


This year, we foresee more challenges in some of our major markets, said Teresa Kok, Malaysia's minister of primary industries Malaysia will use diplomatic channels as it moves to resolve concerns over palm oil exports after India imposed some curbs last week, a minister said on Thursday. "This year, we foresee more challenges in some of our major markets, Teresa Kok, Malaysia's minister of primary industries, told an industry conference....…


After stopping palm oil imports from Malaysia, India is now planning to restrict buying of petroleum, aluminium ingots, liquefied natural gas, computer parts and microprocessors from the Southeast Asian country India is planning to cut some imports from Turkey and widen curbs on palm oil from Malaysia to oil, gas and other products, government officials said, targeting the two Muslim-majority countries for their criticism of India's policy toward…


Imports of uncategorized items may soon require special licences, with the commerce ministry seeking to curb such imports by shifting them to a restricted list in a month, trade minister Piyush Goyal said. “We have a big problem in our imports of a category called ‘others’. In that category, all sorts of stuff are being put in and imported into the country. The last analysis I got done, I found one out of four products…


The government has approached tax advisers and experts on the possible implications of removing tax on long-term capital gains (LTCG) introduced amid much criticism in the FY19 budget. Government officials, tax advisers say, are considering options to attract more foreign long-term investment and one proposal is to do away with LTCG tax on listed equities.The government may also tweak the definition of ‘long term’ from a year to two y…


Whenever somebody on Twitter takes issue with the network’s rules or content policies, they almost always resort to the same strategy: They send a tweet to @jack.   A quick scan of Chief Executive Officer Jack Dorsey’s mentions show just how often he’s called upon to lay down the law for the service he helped create. But what users don’t know is that they’re imploring the wrong Twitter execut…


Amazon.com Inc Founder and Chief Executive Officer Jeff Bezos said on Wednesday that his company would invest an additional $1 billion (about Rs 7,000 crore) to help bring small businesses online in India, and also committed to using the retail giant’s “size, scope and scale” to export $10 billion of made-in-India goods by 2025. Bezos’ India visit — for the maiden edition of his firm’s micro, small an…


During Thursday's trade, Sensex climbed to a fresh all-time high of 42,009.94 and Nifty too has hit a new lifetime high of 12,377.80 from 12,374.25 earlier....


The Enforcement Directorate has summoned AirAsia chief executive officer (CEO) Tony Fernandes on 20 January in an ongoing probe against the airline. Summons have been issued to the entire top brass of the airline, both past and present, under the Prevention of Money Laundering Act (PMLA). The action against Fernandes comes more than a year after both the ED and the Central Bureau of Investigation (CBI) launched their respective probes in alleged …


The board is likely to discuss legal implications and impact of NCLAT order Tata Sons has finalised plans for a board meeting shortly, with the Supreme Court having stayed a tribunal order that had quashed the ouster of Cyrus Mistry, and deemed void the appointment of his successor N Chandrasekaran as chairman.On the agenda of the board meeting will be a briefing on the National Company Law Appellate Tribunal order, including the challenge to the…


South American conglomerate Synergy Group and Delhi-based Prudent ARC are understood to have submitted an expression of interest (EoI) to acquire Jet Airways. Now all eyes will be on the February 8 deadline for the two potential bidders to present their formal resolution plan for the airline. Hinduja Group, which was reported to be interested, has not submitted EoI. Today was the last day for the EoI......


"The world is no longer flat...as globalization makes way for 'slowbalisation,' the emerging pattern of trend is more regional," says the tycoon Aditya Birla Group Chairman Kumar Mangalam Birla, in a personal LinkedIn blogpost, has said that tensions between nationalism and globalisation will be the most defining trends of the current decade. "The conflicting forces of globalisation and nationalism are making governments and corpor…


Amazon.com Inc founder and chief executive officer Jeff Bezos on Wednesday said the company will use its global footprint to export $10 billion worth of goods manufactured under the government’s Make in India initiative. Amazon aims to achieve this target by 2025, Bezos added. Speaking on Day 1 of the two-day summit for small and medium enterprises (SMEs) organised by Amazon in New Delhi, Bezos also said the global online retailer will inve…


Hallmarking now a must for gold jewellers The rule is mandatory from today but jewellers get a year's time to register with BIS, clear their old stock The government will make hallmarking of gold jewellery and artefacts mandatory from Wednesday by issuing a formal notification, but it will give one year’s time to jewellers and retailers to register themselves with the Bureau of Indian Standards (BIS) and clear their old stock.Gold hallmarki…