Business Category

The Supreme Court on Thursday rejected Sahara chief Subrata Roy’s plea to extend the deadline beyond February 6 for depositing Rs. 600 crore with Sebi, the capital markets regulator. The Sahara chief, who is out on parole since his mother’s death in May, sought more time for payment, citing demonetisation and economic slowdown.  The Supreme Court had in November asked Mr Roy to deposit Rs. 600 crore by February 6 and warned that in case of failure, he would have to surrender. “This court had given so much indulgence toRead More
Minister of External Affairs Sushma Swaraj said on Twitter that visas of Amazon officials would be rescinded, after Amazon Canada was found to be selling doormats featuring the Indian flag. “Amazon must tender unconditional apology. They must withdraw all products insulting our national flag immediately,” Sushma Swaraj tweeted, ”If this is not done forthwith, we will not grant Indian Visa to any Amazon official. We will also rescind the Visas issued earlier,” she added. Roughly four hours after Sushma Swaraj’s tweets, the ‘offensive’ products were removed from Amazon’s catalog withRead More
GANDHINAGAR: At the Vibrant Gujarat 2017 Summit on Tuesday, Prime Minister Narendra Modi told a gathering of business leaders that India is the 6th largest manufacturing nation in the world and is on verge of becoming the world’s most digitized economy. The government, he underscored, was working to absorb newer technologies, bring about transparency…and create an enabling environment for business and attracting investments. The four-day investor Summit, which happens to be India’s biggest, started in the Prime Minister’s home state on Tuesday. “India has become the fastest growing major economyRead More

Posted On January 11, 2017By telanganaIn Business, Sport

Dhoni holds court as Brabourne’s leading man

At the end of the 41st over of the India-A innings, the spectators who had thronged the Brabourne Stadium on Tuesday rose to their feet. More than acknowledging Ambati Rayudu’s effortless hundred, the Mumbaikars were going berserk in anticipation of the man for whom Rayudu was retiring. With just nine overs remaining in the batting essay, Mahendra Singh Dhoni crossed the boundary ropes, shook hands with the centurion as they crossed and marched towards the crease, amidst vociferous chants of “Dhoni, Dhoni…”. It wasn’t the first time these roof-raising chantsRead More
Monday was the 10-year anniversary of the iPhone and Apple’s VP of World Wide Marketing Phil Schiller gave an interview where he talked about the glorious last 10 years for the company. Today, we’re back to the average day in consumer technology – which like most days, is full of launches, announcements, and other breaking news. Here are your top stories for the day. The Redmi Note 4 has been out since August 2016, and on Tuesday it got a date of arrival in India, but rumours of a RedmiRead More
For those who insist that traveling is all about the journey, we say this: It really depends on which carrier you’re flying. Aside from variations in cabins and service quality, there’s the major concern of how likely you are to get delayed. Fly on the wrong airline and your odds of a delay are as high as 55 percent; choose the right one and that number shrinks way down to just 11 percent. That’s enough to make or break a vacation’s spell, no matter where you’re sitting on the plane.Read More
MUMBAI: A parliamentary committee probing the government’s decision to scrap Rs. 500, 1,000 bank notes, has sent the Reserve Bank of India governor Urjit Patel a list of questions on the demonetisation process and asked him to appear before it on Jan 20. The Public Accounts Committee (PAC) has asked the central bank chief to explain how the decision for demonetisation was taken and for details on its impact on the country’s economy, PAC Chairman KV Thomas, also a senior member of the opposition Congress party, told Reuters. Mr Patel,Read More
State Bank chairman Arundhati Bhattacharya on Saturday said some level of protectionism is needed to safeguard national interest and also encourage entrepreneurs to build companies of global scale. “I think in matters of real national importance if it is important for the government to ring-fence certain things, the government should do it, because at certain phases some amount of protectionism is necessary,” the SBI chief told the Wharton India Economic Forum in Mumbai on Saturday evening. Bhattacharya was responding to a query on whether the Chinese model of building protectiveRead More
Shares of information technology companies such as HCL Technologies, Infosys, Wipro, TCS, Tech Mahindra, Mindtree, Persistent Systems and Mphasis came under heavy selling pressure today after a bill backing key changes in the H-1B programme was reintroduced in the US. The IT sub-index on the BSE slumped 2.5 per cent with shares like HCL Technologies falling 3.5 per cent, Infosys declining 2.5 per cent, TCS slipping 2 per cent and Wipro sliding 2 per cent. Today’s fall wiped out over Rs 22,000 crore in market value of top four IndianRead More

Posted On January 6, 2017By telanganaIn Business

Government pushing TIES to boost exports

NEW DELHI: Underlining the need for synergising efforts between Centre and states to boost the country’s exports on sustainable basis, Commerce and Industry Minister Nirmala Sitharaman on Thursday said it is trying to formulate a scheme which could provide financial support and create export infrastructure in states. “There is an immediate need to synergize our efforts and jointly take appropriate steps to boost India’s exports — which is the only sustainable way in today’s international trade environment,” said the minister. Since January 2016, the centre has managed to contain tradeRead More