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India out of trillion-dollar club; m-cap slips to $985 bn

Saturday, 17 Aug 2013 | PTI | Mumbai

Indian stock market moved out of the trillion-dollar league on Friday as equities crashed, pulling down the total valuation of all listed companies to $985 billion on fresh concerns about the US stimulus withdrawal, and the rupee plunging to a historic record low of 62. Market capitalisation of all the listed...

Indian mkts need not be so sensitive to US data: FM

Saturday, 17 Aug 2013 | PNS | New Delhi

Finance Minister P Chidambaram said the market should not be “so sensitive” to data flowing from the US but reflect Indian conditions after Sensex crashed 769.41 points on Friday. “I have no doubt in mind, when calm is restored in the market, people will begin to understand India market indicators must...

FinMin, RBI dismiss fears of reverting to cap control regime

Saturday, 17 Aug 2013 | PNS | New Delhi

The Government and RBI on Friday said there was no reverting to capital control regime the fear of which left stock market and rupee gasping for breath. The same fear also pushed gold prices up by a record Rs 1,300 per 10 gm. On a day when Sensex fell nearly 770...

FDI policy in pharma set for major overhaul

Saturday, 17 Aug 2013 | PNS | New Delhi

Government is set to make major changes in the current FDI policy in the pharmaceuticals sector to protect domestic generic industry in the wake of increasing acquisitions of homegrown companies by foreign players. After a high-level meeting held today chaired by Prime Minister Manmohan Singh, it has been decided that the...

MCX says it has no exposure to crisis-hit NSEL

Saturday, 17 Aug 2013 | PNS | New Delhi

Country’s largest commodity bourse MCX on Friday said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading, a top official said today. “MCX and National Spot Exchange Ltd (NSEL) are totally different entities with no financial commitments or...

Banks may not fund spectrum buys if priced at high levels: SBI

Saturday, 17 Aug 2013 | PTI | New Delhi

Country's largest lender SBI has said banks may not lend for telecom spectrum purchases if prices are kept high, like in the case of 3G airwaves auction, as such funding is treated as unsecured loans. SBI apprehends that unsecured loans may lead to higher provisioning of amounts at risk in its...

First ever penalty against foreign Govt entity by CCI

Saturday, 17 Aug 2013 | PTI | New Delhi

Competition Commission of India (CCI) has fined Singapore government investment arm, Temasek Rs 50 lakh in the fair trade regulator’s first ever penalty against a foreign government entity for late filing of application seeking anti-trust approval for an M&A deal. The fine has been imposed on Temasek Holdings and its...

Domestic fliers number grows mere 1% this year

Saturday, 17 Aug 2013 | PNS | New Delhi

There was a mere one per cent rise in domestic flyer numbers carried by Indian airlines in January-July compared with the same period last year as passenger load factors of almost all of them went down. The number of passengers carried by domestic airlines in the first seven months this year...

Telecom subscriber crosses 90 cr-mark in May

Saturday, 17 Aug 2013 | PNS | New Delhi

Registering a marginal growth, Indian telecom subscriber base crossed 90 crore-mark in May this year after almost two years. The base grew by 0.34 per cent to reach 90.005 crore, according to Trai data. This is the second time the subscriber base is breaching the 90 crore-mark. Earlier in June 2012,...

Indo-Canadian convicted for bribery in Air India contract

Saturday, 17 Aug 2013 | PTI | Toronto

An Indian-origin Canadian citizen has been convicted by a court in Ottawa of conspiring to bribe Air India officials and an Indian minister to the tune of $450,000 in a failed bid to secure a lucrative contract for an airline security system. Nazir Karigar, 65, was charged with one count of...


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Prez’s arts council quits over Trump’s Virginia remarks

20 Aug 2017 | AFP | Washington

The entire President’s Committee on the Arts and the Humanities, that includes Indian-Americans Jhumpa Lahiri and Kal Penn, has resigned over President Donald Trump’s controversial remarks after the racist violence in Virginia. In a letter signed by 16 of 17 committee members, including author Lahiri and actor Penn, Trump’s decision to withdraw from the Paris Agreement on climate change has also been cited as a reason for their resignation...

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2,467 kWp solar capacity installed in C'garh last year: Centre

20 Aug 2017 | Staff Reporter | Raipur

Solar power plants having total capacity of 2,467 kWp have been installed at various places including industries in Chhattisgarh in 2016-17, the Central Government has informed. Notably, Chhattisgarh Government has decided to identify more potentially rich areas for installation of renewable energy projects and carry out advance planning for evacuation and transmission of power in an effective and coordinated manner...

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