Business, 26th Jun 2018, News & Stories from India

Monday, May 06, 2024 | Last Update : 01:17 PM IST

Business 26 Jun 2018

Business, 26 Jun 2018

Painting a gloomy picture of the banking sector, the RBI on Tuesday said Gross NPA ratio of banks is likely to rise from 11.6 per cent in March 2018 to 12.2 per cent by the end of the current fiscal.

NPA situation likely to worsen further, says Reserve Bank of India

The RBI said stress in the banking sector continues as gross non-performing advances ratio rises further.

26 Jun 2018 7:01 PM

Benchmarks eked out modest gains in choppy trade on Tuesday as investors booked profit ahead of expiry of June derivatives contracts amid lacklustre overseas cues.

Markets look for direction amid global headwinds

Global markets were mixed amid escalating trade tensions between the US and other leading economies.

26 Jun 2018 6:53 PM

Mallya, who is wanted in India in a bank fraud case, also claimed that he provided all the detailed statements on the utilisation of all borrowed funds to the CBI.

CBI, ED filed charge sheets with false allegations, says Vijay Mallya

Mallya also said that he is tired of the relentless pursuit by the government and its "criminal agencies" to extradite him.

26 Jun 2018 4:45 PM

Bhushan Steel on Tuesday said stock exchanges have approved reclassification of its erstwhile promoters, who collectively hold around 3.47 per cent of stake in the company, as public shareholders following its takeover by Tata Steel.

Bhushan Steel reclassifies promoters after takeover by Tata Steel

Bamnipal Steel had completed the acquisition of a controlling stake in Bhushan Steel Ltd last month.

26 Jun 2018 4:08 PM

The Government is planning a mega event to mark first anniversary of GST roll out on July 1 with participation of industry chambers, traders, and tax officials, besides, Finance Minister Piyush Goyal.

Govt plans mega event to mark 1st anniversary of GST on July 1

Union Minister Arun Jaitley too would be addressing the gathering through video conferencing.

26 Jun 2018 3:52 PM

Cost of living for expatriates in Mumbai is the highest in the country, and more expensive than its global peers like Melbourne and Frankfurt, said a survey. (Photo: AFP)

Cost of living in Mumbai higher for expats than Melbourne, Frankfurt

The financial capital of the country is ranked at the 55th spot in terms of cost of living globally.

26 Jun 2018 2:52 PM

In a bid to make it easier for explorers to find and produce more oil and gas, the government has allowed companies to go beyond their allocated block boundaries if a discovery were to extend outside their contracted area.

Govt allows companies to explore for oil, gas beyond block boundaries

The ministry also simplified the process of companies to pay for unfinished committed exploration and drilling work.

26 Jun 2018 2:27 PM

India's second largest IT services firm Infosys on Tuesday asserted it has sufficient time to file a key US regulatory document -- the subject of a recent whistleblower complaint -- and said the filing will be made "within the stipulated time". (Photo: AFP)

Infosys denies US SEC probe, says has sufficient time to file key documents

The form calls for the submission of an annual report within six months of the end of the company's fiscal year.

26 Jun 2018 2:14 PM

To avoid unnecessary litigation, the government has directed central PSUs to challenge only those cases where policies and larger legal issues are involved, instead of routinely filing writ petitions in high courts against the disputes referred to industrial tribunals for adjudication.

Govt directs PSUs to challenge only those cases which involve larger issues

The ministry requests that such litigation can be avoided by effective compliance of the provisions of labour laws.

26 Jun 2018 1:30 PM

Employers around the world are facing the most acute talent shortage in 12 years, and India is among the top 10 most-affected markets with 56 per cent of employers are facing difficulty in filling vacant positions here, says a survey.

Companies in India and other nations face worst talent crunch in 12 years.

More than half of employers say communication skills – written and verbal – are their most valued soft skills.

26 Jun 2018 1:08 PM

Newly-appointed board of Fortis Healthcare, which is in the process of finding an investor, has again deferred approval of quarterly and annual financial results for the period ended March 31, 2018, saying the issue requires more deliberation.

Fortis board meeting to reconvene today for considering financial results

Fortis said the board meeting commenced at 1600 hours on June 25 and was adjourned at 0215 hours on June 26.

26 Jun 2018 12:40 PM

The rising crude prices have not resulted in a spike in inflation and the macroeconomic fundamentals of the country remain strong, Prime Minister Narendra Modi said here on Tuesday. (Photo: PTI)

No spike in inflation due to rising crude prices, says Narendra Modi

The government is firmly committed to the path of fiscal consolidation, he said.

26 Jun 2018 12:29 PM

With almost a half billion people in the country now using smartphones, Google sees an opportunity to become a one-stop shop for search, social networking and payments.

Google tackles Facebook with Neighbourly, a hyper-local social network

The app is less than 7 MB in size, making it easier to use on older or cheaper smartphones.

26 Jun 2018 12:20 PM

Harley-Davidson Inc said on Monday it would move production of motorcycles shipped to the European Union from the United States.

Harley-Davidson to move some production out of US to avoid EU tariffs

The shift in production is an unintended consequence of Trump’s administration imposing tariffs on European steel and aluminum.

26 Jun 2018 11:59 AM

Jet Airways Ltd said on Monday it has agreed with Boeing Co to purchase 75 of its 737 MAX aircraft, as the Indian carrier expands to meet domestic passenger demand in the world’s fastest-growing aviation market.

Jet Airways to buy additional 75 Boeing 737 Max jets

Based on Boeing’s list prices, the latest deal could be worth as much as USD 9.7 billion.

26 Jun 2018 11:45 AM

The state-wide plastic ban came in to effect from last Saturday has caused a 50 per cent drop in business due to lack of packaging alternatives, according to the Federation of Retail Traders Welfare Association.

Plastic ban causes 50 pc loss to kirana businesses across Maharashtra

The Retailers Association of India blamed the situation to the prevailing confusion in the market.

26 Jun 2018 11:30 AM

Sensex extends losses on global trade war worries

The BSE Sensex fell over 132 points in opening trade on Tuesday.

26 Jun 2018 10:24 AM

The EPFO has been investing in ETFs and now wants to enhance its range to maximise returns on its investments in stock markets.

EPFO deliberate on widening ETF range

Presently, it has invested in UTI Mutual Fund, SBI Mutual Fund, CPSE ETF and Bharat 22, a senior official said.

26 Jun 2018 2:24 AM

Centre eyes $2.4b from AIIB: Piyush Goyal

“It is a matter of great pride that India is the largest recipient of the $4.2 billion funds disbursed by it,” the minister said.

26 Jun 2018 2:18 AM

Sebi wants adjudication in Kochhar-Videocon case

The bank has maintained that its board has full faith in Kochhar.

26 Jun 2018 2:12 AM

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Sunil Gatade