Business

India will take more steps if necessary to curb gold imports, finance minister P Chidambaram said on Monday. The country’s overseas purchases of gold and silver shot up 138% in April.

In the first-of-its-kind arrangement, Essar Energy Plc, controlled by billionaire brothers Shashi and Ravi Ruia, and its refining subsidiary — Essar Oil — will on Tuesday enter into a memorandum of understanding (MoU) with China Development Bank (CDB) and PetroChina.

In an underground mall just a stone’s throw from China’s teeming border with Macau, a row of 30 small shops with identical golden plaques does a brisk, though shadowy trade with mainland Chinese visitors, many of them bound for the gambling hub.

Despite concerns over the payment dues from power utilities including NTPC and resistance from employees within the company, the department of disinvestment (DoD) may go firm with its plans to disinvest another 10% in state-owned Coal India Limited (CIL) in the next few months. Anupama Airy reports.

MG George Muthoot, chairman, The Muthoot Group, has more than 55 years of industry experience and is the 3rd generation head of the group. Muthoot shares his best and worst leadership decisions and talks about other leadership issues with HT.

In the first-of-its-kind arrangement, Essar Energy Plc, controlled by billionaire brothers Shashi and Ravi Ruia, and its refining subsidiary — Essar Oil — will on Tuesday enter into a memorandum of understanding (MoU) with China Development Bank (CDB) and PetroChina.

In a change of stance, the government is considering a proposal to allow companies applying for foreign direct investment (FDI) in multi-brand retail to enter the e-retailing segment as well. Mahua Venkatesh reports.

India will take more steps if necessary to curb gold imports, finance minister P Chidambaram said on Monday. The country’s overseas purchases of gold and silver shot up 138% in April.