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CCI OKs Tatas’ acquisition of Docomo stake in TTSL

Friday, 26 May 2017 | PTI | NEW DELHI

Fair trade regulator CCI has approved Tatas' purchase of 21.63 per cent stake in group firm Tata Teleservices from Japan’s NTT Docomo, taking the long- pending billion-dollar deal a step closer to completion. A joint filing was made with the Competition Commission of India (CCI) for acquisition of share amounting...

GST implementation may increase expense ratio of fund houses

Friday, 26 May 2017 | PTI | MUMBAI

With three per cent increase in service tax likely after the implementation of Goods and services Tax (GST) from July 1, the expense ratio of mutual fund houses across the country will also go up by 3 per cent. Expense ratio is the measure of the cost incurred by...

Videocon shares continue free fall, tank 48% in 4 days

Friday, 26 May 2017 | PNS | NEW DELHI

Investors continued to dump shares of Videocon Industries on reports of loan repayment worries, sending the stock plunging 48 per cent in last four trading sessions. The four-day decline has wiped out Rs1,601.42 crore from the company’s market valuation. Shares of the company today tumbled 9.94 per cent to Rs52.55...

‘Will request FM to reduce tax rate on hybrid vehicles’

Friday, 26 May 2017 | PTI | NEW DELHI

Union Minister Nitin Gadkari on Thursday said that he will urge Finance Minister Arun Jaitley to bring down GST rate on hybrid vehicles and other automobiles that run on alternate fuels. Under the GST rates announced last week, hybrid cars, which are considered eco-friendly, are slated to attract a 15...

Moody’s cuts China credit rating over rising debt

Thursday, 25 May 2017 | AP | Beijing

The Moody’s ratings agency on Wednesday cut China’s credit rating due to surging debt, prompting a protest by Beijing and highlighting challenges faced by Communist leaders as they overhaul a slowing economy. The downgrade adds to warnings about China’s reliance on credit to propel growth after the 2008 global crisis. Private...

More air routes under UDAN scheme by August

Thursday, 25 May 2017 | PNS | New Delhi

The Government is likely to award air routes under the second round of the regional connectivity scheme (RCS) by August, for which it has invited comments from stakeholders on certain changes it has proposed. The stakeholders, including airlines, send their views to the Government for the second part of bidding for...

Cabinet approves FIPB abolition

Thursday, 25 May 2017 | PNS | New Delhi

In a move to fast-track ease of doing business in the country, the Union Cabinet chaired by Prime Minister Narendra Modi, approved phasing out the 25-year-old Foreign Investment Promotion Board (FIPB) on Wednesday. The FIPB, which was earlier vetting foreign direct investment or FDI proposals and requiring Government approvals, will...

Govt looking at bond mkt to raise funds for long term finance: Sebi

Thursday, 25 May 2017 | PTI | Hyderabad

The Government is looking at promoting bond market for raising funds as banks are not the vehicles for long term finance, a SEBI official said on Wednesday. Addressing a national conference on Bond Market--’Meeting Investor Needs Through Fixed Income Markets’ organised by ASSOCHAM here, SEBI whole-time member G Mahalingam said, “The...

Sikka’s salary drops 67% in FY17, total payout down 7%

Thursday, 25 May 2017 | PTI | New Delhi

Infosys chief executive Vishal Sikka’s high salary, which had prompted the founder members to voice concerns, has dropped over 67 per cent in 2016-17 on lower bonus payout. According to the annual report of Infosys, the cash component of Sikka’s salary was Rs 16.01 crore, down from Rs 48.73 crore...

Note ban ‘successful political coup’: French economist Sorman

Thursday, 25 May 2017 | PTI | New Delhi

Globally acclaimed French economist Guy Sorman has described demonetisation as a “successful political coup”, although it failed to meet the objective of weeding out corruption for which more steps are needed. “Demonetisation was a successful political coup which was heavily applauded by a majority of the Indian people. The government showed...


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Boy who married upper caste girl found charred to death

28 May 2017 | Omer Farooq | Hyderabad

The love marriage of an Upper Caste girl with a lower caste boy has ended in a grisly tragedy. As the girl ended her life due to harassment of her family, police have arrested her father T Srinivas Reddy on the charges of murdering his son-in-law Amboji Naresh...

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Harsh Shah grabs top slot in J’khand in science

29 May 2017 | PRAGYA PALLAVI/ PARVINDER BHATIA/ ASHIS SINHA | Ranchi/ Jamshedpur/ Bokaro

Harsh Shah of DAV Public School, Pundag, grabbed the first position in the State in science stream by scoring 97.8 per cent marks in the All India Senior Secondary School Certificate Exam (AISSSCE) results declared on Sunday...

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