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HindustanTimes Thu,28 Aug 2014

Business

Verdict may hit economy, hard, says law minister

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.

KFA moves HC against wilful defaulter tag

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.

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

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.

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.

Tata partners Snapdeal to sell houses online

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.

GVK-Oasis ink Rs. 580 crore pact for Mumbai airport land development

Mumbai International Airport Pvt Ltd, a GVK-Led Consortium, on Wednesday awarded 1.16 million square feet of land parcel at the airport for Rs. 580 crore to Oasis Realty Pvt Ltd for commercial development.

FMC approves Kotak Mahindra Bank deal to buy 15% stake in MCX

Commodity market regulator FMC has approved the Kotak Mahindra Bank's deal to acquire 15% stake in MCX for Rs. 459 crore from Jignesh Shah-led FTIL.

Swiss private bank releases first-ever results

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.

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

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.

SBI cuts home loan rate by up to 0.15%

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.

Payment default case: Kingfisher moves HC against PNB notice

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.

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

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.

Rupee logs 4-week closing high of 60.43 vs dollar, up 13 paise

The Indian rupee on Tuesday appreciatedby 13 paise to end at nearly four-week high of 60.43 against the American currency following fresh dollar selling by exporters and sustained investments by foreign funds.

Rebound in metal, auto stocks helps Sensex end at new peak

The Sensex on Tuesday erased initial losses and closed at a new closing peak of 26,442.81, extending gains for the fourth straight session, on recovery in select metal and auto scrips combined with buying in defensive sectors.

CCI imposes Rs. 2,545 crore penalty on 14 car makers

Competition Commission has slapped a penalty of Rs. 2,545 crore on 14 car makers, including Maruti Suzuki and Tata Motors, for violating trade norms in the spare parts and after services market.
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