In a move that will serve as a booster dose for Prime Minister Narendra Modi’s ‘Make in India’ initiative, the government plans to revive several closed and loss-making pharma public sector units (PSUs).
As part of India’s proposed additional $6 billion (Rs 36,000 crore) investment in Mozambique’s Rovuma Area-1 gas field, the government is looking to ship home natural gas that is about 30% cheaper than the prevailing international price.
Amidst a welter of concern over new retrospective tax demands, Union finance minister Arun Jaitley on Monday sought to reassure foreign investors that he was considering a committee to explore ‘what can be done to resolve the past, and move beyond’ to ensure certainty.
Industrialist Mukesh Ambani on Monday regained his position as the world's richest Indian with a networth of $19.6 billion, as pharma tycoon Dilip Shanghvi slipped to the second place after remaining on the top for about seven weeks.
Liquor firm United Spirits (USL) on Monday appointed Vinod Rao as the Head of Finance and V Ramachandran as the company secretary and compliance officer of the firm.
No frills carrier SpiceJet on Monday cut down base fare for its evening flights to Kathmandu to Rs 1 for two days starting from Monday, and announced that it will mount two more special planes to aid evacuation of travellers stranded in earthquake-devastated Nepal.
India’s largest private sector lender ICICI Bank reported a better-than-expected 10% rise in standalone net profit for the January-March quarter at Rs 2,922 crore, helped by strong demand for retail loans.
Promising a business friendly environment to woo foreign investments, finance minister Arun Jaitley on Monday made it clear that retrospective tax will not be imposed and that taxation policy has to be "non-adversarial".
Beating market expectations, India’s largest car manufacturer Maruti Suzuki India Ltd on Monday reported a 60.5% year-on-year jump in fourth-quarter net profit to Rs 1,284 crore, on the back of higher sales and favourable foreign exchange rates.
Indian nationals have emerged the largest non-Arab investors in Dubai’s real estate market, accounting for property transactions worth 3.040 billion Dhirams ($820.8 million) in the first quarter of 2015.
Iconic business leader Ratan Tata has acquired a stake in Chinese handset maker Xiaomi, the first investment by any Indian in the smartphone maker.
The government has asked public sector banks to proactively inform account holders under the PM's Jan Dhan Yojana about their eligibility to take an overdraft.
On its third straight fall on Monday, the benchmark BSE Sensex plunged 261 points to a fresh three-and-a-half months low of 27,176.99 on sustained capital outflows and disappointing March quarter earnings so far.
Extending losses for the third consecutive day, the rupee shed 21 paise to hit a four-month low of 63.77 against the US dollar in early trade on Monday at the Interbank Foreign Exchange due to continued demand for the American currency from importers.
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