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HindustanTimes Wed,27 Aug 2014

Business

Ratan Tata invests in Snapdeal.com

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Ratan Tata, Tata Sons chairman emeritus, has invested in online marketplace Snapdeal.com.

Sensex up 126 points; auto, banking sectors trading in green

Bombay Stock Exchange
A benchmark index of Indian equities markets on Wednesday was trading 126.41 points or 0.48% up as auto stocks surged. All the sectors were trading in green and the rally was led by auto, consumer durables, capital goods and banking sectors.

Rupee down 4 paise against dollar in opening trade

Currency
The rupee depreciated by four paise to 60.47 against the US currency in opening trade on Wednesday at the Interbank Foreign Exchange market due to dollar's gains against other currencies overseas.

Govt may privatise coal, expedite auction of mines

Coal mines
The NDA government may have to expedite the implementation of the coal auction policy approved by the UPA government last year to prevent projects from getting stuck for want of coal. The Centre is also likely to fast-track a Bill to remove restrictions on private companies in coal mining.

Verdict may hit economy, hard, says law minister

coal
A day after the Supreme Court declared all coal block allocations from 1993 to 2010 as 'illegal', law minister Ravi Shankar Prasad on Tuesday sought to draw attention to its 'impact on the economy', saying this should also be factored in when the court resumes the case on September 1.

'Air India Day' today, tickets for Rs. 100

Maharaja

National carrier Air India will celebrate its merger with erstwhile Indian Airlines as 'Air India Day' on Wednesday, offering tickets for Rs. 100 for a limited period.

Tata partners Snapdeal to sell houses online

Dharuhera: A next big satellite city
Tata Value Homes, a real estate firm focussed on affordable housing, has partnered with e-commerce major Snapdeal to sell houses through the online marketplace model.

Jaitley hopeful of Parliament nod on Insurance Bill by year-end

Why did EC allow Rahul's roadshow and deny Modi, asks Jaitley
Finance minister Arun Jaitley expressed hope on Tuesday that long-pending Insurance Bill seeking to hike FDI cap to 49% will be passed by Parliament by the end of this year.

Payment default case: Kingfisher moves HC against PNB notice

Kingfisher
Kingfisher Airlines moved the Delhi high court on Tuesday against Punjab National Bank's notice alleging the carrier has wilfully defaulted in payment of outstanding dues of over Rs. 770 crore.

India issues visas to 30 Pak traders for Mumbai expo

A BSF soldier securing the Indian gate with Pakistan on the eve of 66th I-Day, at Attari checkpost

In a fresh sign of engagement, India Tuesday cleared 30 visas for Pakistani businessmen scheduled to visit Mumbai for a trade exhibition ‘Made in Pakistan’ on August 31.

Power projects could be worst-hit by SC ruling

Power break
Uncertainty looms over the fate of 28,000 to 30,000 megawatt of power generation capacity if the Supreme Court were to cancel coal block allocations between 1993 and 2010, which it has declared 'illegal'.

KFA moves HC against  wilful defaulter tag

CEO of Kingfisher Airlines Limited Vijay Mallya.
Kingfisher Airlines on Tuesday moved the Delhi High Court against Punjab National Bank’s notice alleging that the carrier has wilfully defaulted payments of outstanding dues of over Rs. 770 crore. The case will come up for hearing on Wednesday.

Provident Fund interest rate retained at 8.75%

Retirement fund body EPFO on Tuesday announced 8.75% rate of interest on provident fund deposits for the current fiscal, a move which would benefit its over five crore subscribers across the country.

Swiss private bank releases first-ever results

US dollar
The elite of Swiss private banks on Tuesday begin lifting the veil on their books after a radical shift in their business model, amid tougher international regulations and crackdowns on tax dodgers.

SBI cuts home loan rate by up to 0.15%

US dollar
Country's largest bank SBI on Tuesday slashed home loan rate by up to 0.15% on housing loan, a move likely to be followed by other lenders.

Coalgate: Cancellation order may put Rs. 2 lakh-crore projects at stake

Coal mines
India’s top companies in key intermediate industries — power, steel and cement — are keeping their fingers crossed fearing cancellation of coal mines allotted to them years back. And the potential investments that may get affected could run into Rs. 2 lakh crore.
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