Industry body asks FM Sitharaman to slash GST on Auto LPG in Budget 2020

28/01/2020
NEW DELHI: Ahead of the presentation of Union Budget 2020-21, industry body Indian Auto LPG Coalition has asked Finance Minister Nirmala Sitharaman to reduce GST on Auto LPG as well as on conversion kits for gaseous fuels to promote the adoption of clean automotive fuels. According to the IAC, LPG used as fuel in automobiles or Auto LPG is among the cleanest alternative fuels with a Global Warming Potential of 'zero' is currently taxed at 18 per cent GST. Also, the GST rates on Auto LPG/CNG co...

Earnings, global cues, pre-Budget expectations to drive markets this week: Analysts

28/01/2020
NEW DELHI: Earnings from major companies such as HDFC, US Fed's interest rate decision and hopes of positive measures from the Budget would drive sentiment in the equity markets this week which may also witness volatile sessions amid derivatives expiry, according to analysts. Participants would also keep an eye on the spread of the deadly coronavirus in China and other countries, they added. The lethal virus has claimed 56 lives in China, and spread to about a dozen nations. "Going ahead, mar...

Centre to release report card of ‘smart cities’ in June

28/01/2020
Visakhapatnam: The central government will release a report card of 100 selected smart cities in three categories ease of living, municipal performance index and climate in June as the Smart Cities Mission completes its five years. According to the Union Housing and Urban Affairs Ministry, it will help cities in better planning and moving towards data-driven governance that will eventually improve their liveability. Smart Cities Mission Director Kunal Kumar said that in June the ministry will...

Govt to sell 100 pc stake in Air India; issues bid document

28/01/2020
NEW DELHI: The government on Monday announced sale of 100 per cent stake in debt-laden Air India as it issued the preliminary bid document for the strategic disinvestment with the deadline for submitting expression of interest set as March 17 As part of the strategic disinvestment, Air India would also sell 100 per cent stake in low-cost airline Air India Express and 50 per cent shareholding in joint venture AISATS, as per bid document issued on Monday Management control of the airline would ...

Eyeing leadership position in electric vehicle segment: Tata Motors

28/01/2020
NEW DELHI: Tata Motors aims to establish itself as the leader in the electric vehicle (EV) market in the country as it looks to roll out new products for both private and fleet segments, a senior company official said. The company, which sells its Tigor EV primarily to fleet customers, is now gearing up to cater to the personal segment with the introduction of the electric version of compact SUV Nexon which comes with a range of over 300 kms. "As far as Tata Motors is concerned, we want to es...

FPIs pour in Rs 1,624 cr in Jan so far as US-China trade deal boosts sentiment

28/01/2020
NEW DELHI: Foreign portfolio investors (FPI) have infused a net sum of Rs 1,624 crore into the Indian capital markets in January so far, buoyed by the signing of the first phase of the US-China trade deal. As per latest depositories data, FPIs invested a net Rs 13,304 crore in equities and withdrew a net Rs 11,680 crore from the debt segment between January 1-24. This translates into a total net inflow of Rs 1,624 crore. “After starting the year on a muted note, investments from FPIs has pic...

Digital currency cannot be private, says French central banker

28/01/2020
Paris: Digital currency could be useful as cash transactions dwindle in some countries but central banks should be in charge of issuing it, not private companies, Bank of France Governor Francois Villeroy de Galhau said. Spurred by the rise of cryptocurrencies and Facebook`s plans to launch its Libra currency, central banks worldwide are looking into the possibility of issuing digital money to prevent the loss of state control over money. Villeroy said the proposals were not a reaction to Face...

Dr Reddy’s posts Rs 570-cr net loss due to heavy impairment charge

28/01/2020
Hyderabad: In a complete reversal of analyst expectations, drug major Dr Reddy's Laboratories Limited has reported a net loss of Rs 569.7 crore for the quarter ended December 2019 due to a massive impairment charge of Rs 1,320 crore, and despite a reasonable growth in revenues during the period. The company's profit before tax stood at Rs 580.5 crore with a net profit of Rs 485.2 crore in the corresponding quarter previous year. According to the company, the launch of a competing version of i...

Banking sector is stressed, govt in no position to bail it out: Banerjee

28/01/2020
Jaipur: Nobel laureate and economist Abhijit Banerjee here on Sunday said the banking sector in the country is “stressed” and the Government is in no position to bail it out. Speaking to the media on the sidelines of the 13th Jaipur Literature Festival, Banerjee said the demand slowdown in the automobile sector also shows that people are lacking confidence in the economy. “Financial sector is the biggest stress point currently. There is no question that the finance sector is something we shoul...

India, Brazil ink 15 pacts; PM Modi says a ‘new chapter in bilateral ties’

26/01/2020
NEW DELHI: India and Brazil on Saturday inked 15 agreements to ramp up cooperation in a wide range of areas and unveiled an action plan to further broadbase strategic ties after talks between Prime Minister Narendra Modi and Brazilian President Jair Messias Bolsonaro. In the action plan, the two countries have set specific goals for deeper cooperation in areas of defence and security, trade and commerce, agriculture, civil aviation, energy, environment, health and innovation and vowed to work ...

India faces first fall in direct taxes in at least two decades: Report

26/01/2020
Mumbai: Corporation and income tax collection for the current year is likely to fall for the first time in at least two decades, over half a dozen senior tax officials told Reuters, amid a sharp fall in economic growth and cut in corporation tax rates. Prime Minister Narendra Modi’s government was targeting direct tax collection of ~13.5 trillion ($189 billion) for the year ending March 31 a 17 per cent increase over the last fiscal year. However, a sharp decline in demand has stung businesse...

Birla Corp aims 20 MT to become fifth largest cement company in India

26/01/2020
Kolkata: Birla Corporation is increasing its total manufacturing capacity to around 20 million tonnes per annum (mtpa) spread across western, northern and central India in the next three years which will provide the company ample markets to scale up its other products as well as roll out new ones. It is already constructing a new 3.9 mtpa plant, a 40MW plant and a 10.6MW waste-heat recovery plant at Mukutban in Maharashtra with an investment of Rs 2,450 crore, which is expected to be commissio...

Petrol, diesel prices see big cut on Saturday following Coronavirus outbreak

26/01/2020
NEW DELHI: Fuel prices were dropped further on Saturday after international crude oil rates fell sharply following the outbreak of Coronavirus in China. The price of petrol was cut by 27 paise and that of diesel by diesel by 30 paise a litre across all major cities on Saturday. The petrol now costs Rs 74.16 a litre in Delhi, Rs 79.76 a litre in Mumbai, Rs 76.77 a litre in Kolkata and Rs 77.03 a litre in Chennai after the price cut. Similarly, diesel costs Rs 67.31 a litre in Delhi, Rs 70.56 ...

ICICI Bank Q3 net profit rises over two-fold to Rs 4,146 crore

26/01/2020
NEW DELHI: Private sector lender ICICI Bank on Saturday reported an over two-fold jump in standalone net profit at Rs 4,146.46 crore for the third quarter ended December 2019. It had registered a net profit of Rs 1,604.91 crore in the October-December period a year ago, ICICI Bank said in a BSE filing. Total income rose 17.23 per cent to Rs 23,638.26 crore during the quarter under review as compared to Rs 20,163.25 crore in the corresponding period a year ago. The bank's asset quality improve...

Flipkart ups physical retail presence to take on rivals, boost business

26/01/2020
Bengaluru: Walmart-owned Flipkart may absorb Walmart India’s wholesale business, which includes 28 Best Price stores and three warehouse properties, as the two groups look at consolidating operating units and driving synergies, said people in the know. If the amalgamation goes through, Flipkart will acquire a sizable physical retail footprint, which will likely complement its core e-commerce business. Flipkart, which operates Myntra marketplace and PhonePe payments app, will use Walmart Indi...

Growth slowdown in India temporary: IMF chief

26/01/2020
Davos: IMF chief Kristalina Georgieva said growth slowdown in India appears to be temporary and that she expects the momentum to improve going ahead. The world appears a better place in January 2020 compared to what it was when IMF announced its World Economic Outlook in October 2019, she said at the World Economic Forum (WEF) 2020 here. She said the factors driving this positive momentum include receding trade tension after the US-China first phase trade deal and synchronised tax cuts, among...

Samsung moves India chief HC Hong to Latin America

26/01/2020
NEW DELHI: Samsung India President HC Hong has moved to a new role and will lead Latin America operations of the company. The company, whose India revenues stand at over USD 10 billion, is likely to announce Hong's successor in the next 1-2 weeks, according to sources. Hong had been spearheading the India operations for the last five years. "After five wonderful years as President and CEO, I am moving to a new assignment at Samsung...It's been my great privilege to work so closely with you an...

Sebi fines Scan Steels Rs 18.8 lakh for fraudulent trading

26/01/2020
NEW DELHI: Markets regulator Sebi has levied a penalty of Rs 18.80 lakh on Scan Steels Ltd for indulging in fraudulent trading in the stock options segment of the BSE. The matter pertains to a probe conducted by the regulator between April 2014 and September 2015 after observing large scale reversal of trades in stock options segment of the BSE by certain entities including Scan Steels that led to creation of artificial volume. The probe found that the trades executed by the company "were not...

Ahead of budget, Das underlines need for more structural reforms to revive growth

26/01/2020
Mumbai: With just a week left for the budget, Reserve Bank Governor Shaktikanta Das called for structural reforms and more fiscal measures to revive consumption demand and the overall growth, saying monetary policy has its own limitations to achieve these objectives. The Narendra Modi government in its second term will present the first full budget next Saturday, at a time when the advance estimate of GDP has projected nominal growth plunging to a 48-year-low of 7.5 per cent and real growth hi...

Budget 2020 to stress on mobile handsets, components under Make in India

25/01/2020
NEW DELHI: Finance Minister Nirmala Sitharaman will present Union Budget 2020-21 on February 1, 2020, and the mobile phone industry is expecting to get a boost from it. In late December 2019, at one of the extensive closed door meetings that Prime Minister Narendra Modi had with various industry vertical heads, a high-profile team representing India`s digital economy outlined the way forward. At the meeting where PM Modi was most candid asking for real time suggestions to boost growth, he w...

SBI says bank trade unions two-day all-India strike may hit work

25/01/2020
NEW DELHI: United Forum of Bank Unions (UFBU) have called for a two-day strike across India on January 31 and February 1, 2020. According to the State Bank of India (SBI), country's largest lender, its operations is also likely to suffer to some extent due to the proposed two-day nationwide strike. The second day of the bank trade unions strike falls on Budget 2020 day. India's Economic Survey is on January 31, the first day of the bank trade unions strike, and Union Finance Minister Nirmala S...

China puts off big holiday releases in view of coronavirus, losses likely in billions

25/01/2020
Beijing: A big draw for the Chinese during the annual Lunar New Year (LNY) holidays is the release of blockbuster movies across the country. It was supposed to be the same this year with the release of seven big budget movies expected to rake in big money slated for the holidays on China’s 60,000 screens, by far the largest number in the world. Producers of all the seven movies announced Thursday that they were withdrawing the releases during the holidays an “unprecedented move”, according to ...

Petroleum regulator alleges violations on city gas projects; Adani Gas clarifies

25/01/2020
NEW DELHI: The Adani family owned Adani Gas on Friday clarified on Petroleum and Natural Gas Regulatory Board’ (PNGRB) notice on non disclosure of information and alleged violation while bidding for city gas distribution (CGD) projects. The issues assume importance in the backdrop of Total, the world’s second-largest liquefied natural gas company, which plans to buy a 37.4% stake in Adani Gas through a combination of a tender offer to public shareholders and from the Adani family. Television ...

Scooter-sharing start-up Bounce plans expansion, eyes global foray

25/01/2020
NEW DELHI: Bounce, a motorycle and scooter sharing start-up, which recently raised $105 million (Rs 750 crore), plans to expand in this country and also get into markets abroad. “We have been successful in proving this is a solution that appeals to a very large population. Our efforts would be to scale up to 10-12 major cities and 100 smaller cities in the coming few quarters,” said Anil G, chief operating officer and co-founder. “We believe (tapping) smaller cities is a big opportunity, as th...

Not received any Sebi request for further audit in whistleblower case: Infosys

25/01/2020
NEW DELHI: Infosys on Friday said it has not received any request from Sebi for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet. Sources had said market watchdog Securities and Exchange Board of India (Sebi) is likely to call for a forensic audit of books of Infosys as it continues to probe whistleblower allegations of alleged financial irregularities at the company. Earlier this month, Infosys had said its au...

India likely to fund some $28 billion of 2020-21 expenditure via off-budget borrowings, claims sources

25/01/2020
NEW DELHI: India is likely to fund roughly $28 billion of its expenditure outlay in its upcoming budget for the fiscal year 2020/21 via off-budget borrowings, said three government sources directly aware of the matter, as it seeks to revive a sagging economy, while keeping its fiscal deficit in check. Prime Minister Narendra Modi`s government is under pressure to increase spending on rural welfare schemes and infrastructure to boost economic growth that has fallen for six straight quarters. O...

DoT orders no coercive action on defaulting Airtel, Voda-Idea

25/01/2020
NEW DELHI: On a day when the Supreme Court-mandated deadline for Bharti Airtel and Vodafone Idea to pay Rs 88,624 crore in past dues ended, the Department of Telecommunications (DoT) decided not to take coercive action against defaulters during pendency of their appeals in the apex court for relaxations in the order. While Bharti Airtel and Vodafone Idea did not pay the dues, billionaire Mukesh Ambani-led Reliance Jio paid Rs 195 crore to clear all outstanding against it, official sources said...

Coronavirus scare grips Asian currencies

25/01/2020
Mumbai: The rupee depreciated by 7 paise to close at 71.26 against the US dollar as the spread of a deadly new virus from China stoked fears of a global pandemic. However, softening crude prices and strong domestic equity market restricted the rupee’s fall, forex dealers said. At the interbank foreign exchange market, the local currency opened on a weak note at 71.21. During the day, it swung between a high of 71.16 and a low of 71.35. The Indian currency finally settled at 71.26, registerin...

Sensex snaps 3-day losing run as banking, energy stocks gain, L&T rises 3pc

24/01/2020
Mumbai, Jan 23: Snapping its three-day losing run, market benchmark index Sensex rose by 271 points on Thursday following gains in banking and energy stocks despite a massive sell-off in global equities. The 30-share BSE Sensex settled 271.02 points, or 0.66 per cent, higher at 41,386.40. It hit an intra-day high of 41,413.96 and a low of 41,098.91. The broader NSE Nifty gained 73.45 points, or 0.61 per cent, to end at 12,180.35, ending its four-day losing streak. Larsen & Toubro (L&T) was th...

Kuwait firm to set up Rs 49,000 cr oil refinery in TN: CM

24/01/2020
Chennai, Jan 23: Kuwait based Al Kharafi plans to set up an oil refinery and a petrochemical manufacturing facility at an investment of Rs 49,000 crore in Tamil Nadu, Chief Minister K Palaniswami said here on Thursday. The setting up of the refinery would see the southern districts in the state develop like Jamnagar in Gujarat and Jurong Island in Singapore, he said. The Chief Minister said China-based BYD Group also planned to make investments in the state. He said 59 companies which signed M...

Tata Motors hopeful of liquidating inventory of BS-IV cars

24/01/2020
Kolkata, Jan 23: Leading automobile manufacturer Tata Motors is hopeful of liquidating inventory of its BS-IV cars by end of the current fiscal, as new emission norms will come into force from April 1, a company official said on Thursday. Presently, the inventory of BS-IV cars which the dealers across the country are holding is around 7,500 units, he said. "We hope to liquidate the entire inventory of BS-IV cars which dealers are holding is around 7,500 units by March 31,2020," Tata Motors' z...

Rupee slips 3 paise against US dollar in early trade

24/01/2020
Mumbai, Jan 23: The rupee depreciated by 3 paise to 71.22 against the US dollar in early trade on Thursday amid rising demand for the greenback vis-a-vis other currencies overseas, even as crude oil prices eased. Besides, foreign fund outflows also weighed on the local unit, forex dealers said. However, a positive opening in the domestic equity market supported the rupee and restricted the fall, they added. At the interbank foreign exchange market, the rupee opened weak at 71.21 and slipped fu...

PVR reports weak Q3 performance, net profit down by 34 pc

24/01/2020
New Delhi, Jan 23: Multiplex cinema operator PVR Ltd on Thursday reported 34 per cent fall in its consolidated net profit in the third quarter of current financial year (Q3 FY20) to Rs 36.34 crore as compared to Rs 55.27 crore in the year-ago period. This was despite revenue from operations rising by 8.61 per cent to Rs 915.74 crore from Rs 843.11 crore in Q3 FY19. Revenues from the movie exhibition segment rose by 7.65 per cent to Rs 885.29 crore while other revenues (including movies producti...

Complete your big-ticket purchases with a Bajaj Finserv Personal Loan

24/01/2020
Pune, Jan 23: The idea of borrowing money via an unsecured personal loan has become quite the norm in India. This is well substantiated by data from the Reserve Bank of India that indicates that personal loans accounted for almost 96 per cent of new bank loans taken in FY2018. Another recent survey pointed out that nearly 50 per cent of respondents were open to borrowing for reasons such as upgrading their lifestyle and 33 per cent were likely to borrow to purchase consumer durables. These stat...

Ex-pharmaceutical exec to be sentenced for pushing opioid

24/01/2020
Boston, Jan 23: The India-born founder of an Arizona pharmaceutical company is expected to be sentenced in Boston's federal court Thursday for his role in a bribery and kickback scheme that prosecutors said helped fuel the opioid crisis. John Kapoor, the 76-year-old former chairman of Insys Therapeutics, was found guilty of racketeering conspiracy last May after a trial that lasted 10 weeks and led to 15 days of jury deliberation. Prosecutors are requesting a sentence of 15 years in prison, wh...

West Bengal plans 50,000-tonne onion cold storage facility

24/01/2020
Kolkata, Jan 23: West Bengal has drawn up plans to set up a 50,000-tonne humidity-controlled cold storage facility for onions in Murshidabad district, a senior official said. The cold storage is likely to be operational from 2021, he told PTI. "It will be the first specialised cold storage for onions in the country of such a scale. The facility will have an optimum capacity of 50,000 tonne," West Bengal Agri Advisor to the chief minister, Pardip Kumar Mazumdar, said. "This facility will help...

Advancells Group, IFC concluded their three-day workshop on Regenerative Medicine

24/01/2020
New Delhi, Jan 23: On Saturday, January 18 2020, the Advancells Group and the International Fertility Center together ended their first workshop - Sub-Specialty Training in Application of Regenerative Medicine (STAR 2020). The three-day workshop had specialized doctors, medical practitioners, learned scientists of Advancells, the leaders in cell manufacturing and processes and IFC, one of India's most prestigious Fertility institutes who were joined by candidates with MBBS/BAMS/BHMS/ BPharma a...

SEBI to use artificial intelligence, big data analytics to curb manipulations

24/01/2020
Mumbai, Jan 23: Stock market regulator Securities and Exchange Board of India (SEBI) is in the process of creating a data lake project to augment its analytical capability and surveillance specifically aimed at social media, Chairman Ajay Tyagi said. "Social media platforms are increasingly being used by manipulators for market manipulation. Regulators worldwide are increasingly acknowledging that there is much more surveillance input that can be gained from such social media platforms," he sa...

NTT to invest estimated USD 1.5 bn in data centres in India

23/01/2020
Mumbai, Jan 22: Japanese tech major NTT on Wednesday said a significant part of its USD 7 billion global commitment for data centres business would be spent in India over the next four years. The company also feels that there will be margin compression issues for the data centres business in India as capacity supply goes up along with an increase in competition, NTT's country chief executive for global data centres and cloud infrastructure, Sharad Sanghi, told PTI. In the last few months, a st...

Sensex slips to over five-week low; investors cautious ahead of Budget

23/01/2020
Mumbai, Jan 22: The market gauge Sensex on Wednesday fell for the third straight session to mark its lowest level in over five weeks as participants moved to the sidelines exercising caution ahead of the federal Budget. At close, the 30-share Sensex was down 208.43 points, or 0.50 per cent, at 41,115.38 the lowest level for the index since December 16. After starting the session on a high note, the BSE gauge kept on shedding gains and touched the day's low of 41,059.04. Likewise, the broader ...

SBI Life Q3 profit up 47 pc at Rs 390 crore

23/01/2020
New Delhi, Jan 22: SBI Life Insurance on Wednesday reported a 47.4 per cent growth in profit after tax (PAT) at Rs 389.44 crore for the third quarter ended December 2019. The private insurer's PAT stood at Rs 264.28 crore during the October-December period last year, the insurer said in a regulatory filing. Assets under management (AUM) increased to Rs 1,64,190 crore as compared to Rs 1,34,150 crore at the end December 31, 2018. Established in 2001, SBI Life Insurance is a joint venture betwee...

India falls to 51st position in EIU’s Democracy Index

23/01/2020
New Delhi, Jan 22: India slipped 10 places to 51st position in the 2019 Democracy Index's global ranking, according to The Economist Intelligence Unit, which cited "erosion of civil liberties" in the country as the primary cause for the downtrend. India's overall score fell from 7.23 in 2018 to 6.90 in the Index that provides a snapshot of the current state of democracy worldwide for 165 independent states and two territories. On India, the report said, the country dropped ten places in the D...

FM not being invited for pre-Budget meets by PMO: Chavan

23/01/2020
Pune, Jan 22: Congress leader Prithviraj Chavan claimed on Wednesday that pre-Budget meetings are being held at the Prime Minister's Office (PMO) but Finance Minister Nirmala Sitharaman is not being invited. If Prime Minister Narendra Modi was not happy with Sitharaman's performance, he should ask her to resign, the former Maharashtra chief minister said here. The Union budget would be presented on February 1. "Traditionally, pre-Budget meetings are conducted by the finance ministry. The entir...

Rupee strengthens 2 paise to 71.19 on easing crude prices

23/01/2020
Mumbai, Jan 22: The rupee strengthened by 2 paise to settle at 71.19 against the US dollar on Wednesday amid easing crude oil prices. Forex traders said strengthening of the American currency and weak domestic equities dragged the local unit, however easing crude prices supported the rupee and restricted the fall. The next trigger for the domestic currency will be the Union Budget and RBI Monetary policy, they said. At the interbank foreign exchange market, the local currency opened on a pos...

Hopeful all countries will come together on AI regulations: Pichai

23/01/2020
Davos, Jan 22: Google chief Sundar Pichai on Wednesday said the world needs a free and open internet for everyone and hoped that all countries will come together for a common regulatory framework for artificial intelligence (AI). Speaking here at WEF 2020, Pichai also said privacy cannot be a luxury good and it has to be safeguarded for everyone. "We need a free and open internet for all, while data sovereignty is important for every country and that needs to be taken into account in any data...

Gold slides by Rs 51, silver tumbles Rs 472

23/01/2020
New Delhi, Jan 22: Gold prices fell by Rs 51 to Rs 40,688 per 10 gram in the national capital on Wednesday on a stronger rupee and weakness in international market. The precious metal had closed at Rs 40,739 per 10 gram in the previous session. Silver also declined by Rs 472 to Rs 47,285 per kg from Rs 47,757 per kg on Tuesday. "Spot gold for 24 karat in Delhi fell by Rs 51 with strength in rupee against the dollar," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. The rupee app...

Somany supports new age marketing with innovation being the core of marketing

23/01/2020
Noida (Uttar Pradesh), Jan 22: Marketing today is no mean feat, with every brand vying for the attention of the much discerning, empowered and spoilt for choice consumer. Gone are the days when figuring out your product USP and then talking about it on TV or Print could work wonders for the brand. Oh, the Millennial! What's that elusive, magical creature that all marketers are striving to catch today? The segment is tricky to market to, and assuming that the regular marketing tactics will work...

Axis Bank Q3 net profit up 5 pc to Rs 1,757 crore

23/01/2020
Mumbai, Jan 22: Private sector lender Axis Bank said on Wednesday its net profit rose by 5 per cent year-on-year in the third quarter of current fiscal year to Rs 1,757 crore on the back of higher net interest income. Net interest income the difference between interest earned on loans and that paid on deposits increased by 15 per cent to Rs 6,453 crore from Rs 5,604 crore in the corresponding period last year. Non-interest income (comprising of fee, trading profit and miscellaneous income) for...

Sensex, Nifty tumble on tepid Q3 earnings, GDP growth concerns

22/01/2020
Mumbai, Jan 21: Market benchmark Sensex furthered losses for the second straight session on Tuesday as investors fretted over subdued corporate results and IMF revising downwards India's growth forecast. At the closing bell, the 30-share Sensex was down 205.10 points, or 0.49 per cent, at 41,323.81; while the NSE Nifty settled 54.70 points, or 0.45 per cent, lower at 12,169.85 the third loss for the gauge in a row. Indian bourses also remained under pressure tracking weaker global markets afte...

Have factored in possible operational challenges from having all-economy aircraft: Vistara CEO

22/01/2020
New Delhi, Jan 21: Some of the 50 aircraft that will join the Vistara's fleet over the next three years will have just economy-class seats and the airline has factored in operational challenges that may arise from having planes with different class configurations, its CEO Leslie Thng said on Tuesday. "Vistara is at a stage of maturing, which means it is growing in scale, size as well as in creating robust operational processes. We have factored in the operational challenges that may arise from...

Pessimism at record level among CEOs: PwC survey

22/01/2020
Davos, Jan 21: A record level of pessimism has creeped into the CEOs across the world regarding the worldwide economic growth, a much sought after survey showed here on the first evening of the WEF annual meeting. For the first time, more than half of the CEOs surveyed by global consultancy PwC said they believe the rate of global GDP growth will decline. In comparison, the survey had found a record level of optimism among CEOs two years ago in 2018. In the latest survey, only 27 per cent of C...

ICICI Prudential Life Insurance’s net profit crawls up 2 pc to Rs 302 crore

22/01/2020
Mumbai, Jan 21: ICICI Prudential Life Insurance on Tuesday posted a net profit at Rs 302 crore on standalone basis during the third quarter of current financial year (Q3 FY20), up 1.9 per cent from Rs 297 crore in the corresponding period of the previous year. The net earned premium moved to Rs 8,131 crore from Rs 7,483 crore in the same period. On the other hand, the value of new business for the April to December period was Rs 1,135 crore, showing a year-on-year growth of 24.7 per cent while...

Srei Infra to consider raising up to Rs 3,000 crore on Feb 14

22/01/2020
Kolkata, Jan 21: Asset finance and leasing company Srei Infrastructure Finance Ltd has scheduled a board meeting for February 14 to consider the issue of securities during the current financial year 2020-21. The board will consider a public issue of redeemable, non-convertible debentures (NCDs) aggregating up to Rs 1,000 crore in one or more tranches during the FY 20-21. It will also consider issuing redeemable NCDs including bonds totalling Rs 1,000 crore outstanding at any point of time duri...

Narayana Health City performs Karnataka’s youngest heart transplant

22/01/2020
Bengaluru, Jan 21: End-stage heart failure is one of the conditions mired with high mortality. Around one-fourth of the children who suffer from end-stage heart failure die within six months and a majority of them do not survive beyond two years of age. The pediatric cardiology department of Narayana Health City has brought a ray of hope to children suffering from end-stage heart failure by successfully performing a heart transplant surgery on a child as young as four years of age. The transpla...

US-China trade deal 2nd phase to begin soon: Trump

22/01/2020
Davos, Jan 21: US President Donald Trump on Tuesday said the second phase of negotiations for the US-China trade deal would begin soon and asserted that the two countries never had a better relationship despite the recent rough patch. He also said he has a great relationship with Chinese President Xi Jinping. "My relationship with Xi is extraordinary. He's for China, I'm for the US but other than that, we love each other," the American president said at the World Economic Forum (WEF) annual su...

Auto registrations plunge 15 pc in December on weak buyer sentiment: FADA

22/01/2020
New Delhi, Jan 21: Vehicle registrations across the country declined by 15 per cent in December year-on-year due to weak consumer sentiment despite deep discounts being offered by manufacturers, the Federation of Automobile Dealers Associations (FADA) said on Tuesday. The de-growth was not on expected lines as inquiry levels all through the month were quite robust, said FADA President Ashish Harsharaj Kale. "Consumer sentiment continues to be very weak as buyers did not conclude on purchase ev...

Academician duo reinventing management education in Gujarat

22/01/2020
Gujarat, Jan 21: What makes Management Education so vitally attractive whether during the downturn or upturn of any economy on the planet; is its ability to infuse the necessary skills and tools in the psyche of the student and the future manager or an entrepreneur, to make a business work and prosper - which is exactly what we all collectively as a society, striving for. Established in the year 2000, the world-class Management Business School is the brainchild of Dr Amit Gupta, who along with...