Business

‚ÄėHave bank accounts for all by January 2016‚Äô

Wednesday, 08 Jan 2014 | PNS | Mumbai/ New delhi

Suggesting significant changes in the nation’s banking structure, an RBI panel on Tuesday recommended setting up of specialised banks to cater to low income households to ensure that all citizens have bank accounts by 2016. The panel, headed by former ICICI Bank Executive Director Nachiket Mor, recommended that the facility for...

Cash-strapped UPA seeks to revive SUUTI to fill up coffers

Wednesday, 08 Jan 2014 | Animesh Singh | New Delhi

Hard pressed for funds after plans to divest its stakes in Maharatna companies like Indian Oil Corporation (IOC) and Coal India Ltd (CIL) seem to be in jeopardy, owing to weak market conditions and labour unrest, the Government in a last ditch effort plans to revive the currently defunct Specified...

I-T Dept searches 20 Yash Birla properties in Mumbai, Delhi

Wednesday, 08 Jan 2014 | PTI | Mumbai

The investigation wing of the Income Tax department on Tuesday conducted searches at about 20 premises of the Yash Birla group in Mumbai and New Delhi for alleged tax evasion. “We have conducted searches at 20 locations of five Yash Birla group companies in connection with allegations of tax evasion,” a...

Sebi notifies FPI norms; ushers in easier operating climate

Wednesday, 08 Jan 2014 | PNS | Mumbai

Sebi on Tuesday notified new Foreign Portfolio Investor (FPI) regulations to put in place an easier registration process and operating framework for overseas entities seeking to invest in Indian capital markets. The new regulations, which have come into effect today, replaces the existing Sebi regulations for Foreign Institutional Investors (FIIs) and...

Tata Steel fined over accident in UK plant

Wednesday, 08 Jan 2014 | PTI | London

Indian giant Tata Steel has been fined 25,000 pounds and ordered to pay 8,320 pounds in legal costs over a worker's injury at its plant in Wales.Tata Steel's UK unit was found guilty of safety failings after the worker suffered serious injuries to his hand at the Trostre plant in...

Sensex remains below 21,000 mark due to concerns over AAP factor

Wednesday, 08 Jan 2014 | PNS | New Delhi

Sensex failed to sustain near its record high level since Dec 9, 2013 Emergence of Aam Aadmi Party (AAP) in the country's political firmament is turning to be the reason of worry for the Indian equity markets. The fear of an unstable Government from the fast approaching general elections has caused...

Honda launches new City, introduces diesel variants

Wednesday, 08 Jan 2014 | PNS | New Delhi

Further strengthening its position in the country, Japanese carmaker Honda on Tuesday launched its fourth generation City sedan in India, including the first diesel variants of the car, priced between Rs 7.42 lakh and Rs 11.1 lakh (ex-showroom Delhi). Diesel variants of the new City will retail from Rs 8.62 lakh...

Samsung forecasts steep drop in Q4 earnings

Wednesday, 08 Jan 2014 | AFP | Seoul

South Korea's Samsung said on Tuesday it expected a steep drop in its operating profit for the fourth quarter of 2013, as slowing sales of high-end smartphones and a strong won hit the world's top technology firm. The company forecast an operating profit of $7.8 billion for October-December, down 18.3 per...

Nokia goes for aggressive pricing for new Lumia range

Wednesday, 08 Jan 2014 | PNS | NEW DELHI

Aiming to cash on the success of Nokia Lumia 520, Finnish handset maker has expanded its range on Tuesday by launching Lumia 525 with upgraded features priced at Rs 10,399. Nokia's aggressive intent was also visible in the pricing of its new phablet, the Lumia 1320 priced at Rs 23,999. "By 2013-end,...

India to auction 56 oil and gas blocks on revamped terms

Tuesday, 07 Jan 2014 | PTI | New Delhi

India will offer at least 56 oil and gas blocks for bidding under completely revamped terms, Oil Secretary Vivek Rae said on Monday. “We will profile 56 blocks at the Petrotech conference next week. But notice inviting tender (or bids) will come out some time next month,” he said on the...


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Zuma’s downfall gives ANC a final chance

18 Feb 2018 | Gwynne Dyer

Now that Jacob Zuma has finally exited, the African National Congress, which has fallen a long way from its glory days, has one last chance to rebuild its reputation before next year’s election. Whether the ANC is the best bet for South Africans is a different question altogether As a passer-by in the upscale Johannesburg suburb of Saxonwold observed, the South African Police would never have raided the enormous, high-walled compound...

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Police recover illegal coal, seize five motorbikes

19 Feb 2018 | SURESH NIKHAR | Bokaro

A police team of Bokaro Thermal police station headed by inspector cum officer-in charge Parmeshwar Leyangi on Sunday morning conducted raids at Ganjutola in Armo forest area here and seized approx 2.5 tonnes of illegal coal along with their 4 motorcycles and 5 cycles,said Bokaro SP Kartik S...

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