the exchange rates for the pound and the yen against the rupee were 83.8778 and 58.05 per 100 yens, respectively, based on reference rates for the dollar and cross-currency quotes at noon. the central bank also fixed the rate of rupee at 64.3580 against dollar.
Singapore Airlines Ltd's budget arm Scoot says it would take over two routes from sister carrier SilkAir as the parent company conducts a wide-ranging strategic review designed to cut its cost base. The review announced in May after a surprise fourth-quarter loss.
The airline is planning to expand its domestic base and is also in the process of finalising its plans to launch its international operations by the end of the next year.
Japanese trading companies, global pension funds and buyout firms are also in the fray to buy Singapore-based Equis which is valued at up to $5 billion. Equis owns a portfolio of 97 projects comprising solar, wind and hydro generation assets spread across the world.
Convoy, a Seattle-based startup is part of a growing field of companies using mobile apps and algorithms to connect shippers with trucks more efficiently. Entrepreneurs have been looking for opportunities to grab a slice of the $700 billion-a-year trucking industry.
Gold prices edged higher on Tuesday, after hitting a one-month high in the previous session, buoyed by political uncertainty in the United States, as investors awaited the Federal Reserve meeting for clues on monetary policy.
Saudi Arabia would limit crude oil exports to 6.6 million barrels per day (BPD) in August, almost 1 million BPD below levels a year ago to boost crude oil prices by taking a razor to its exports. Imports from Saudi Arabia has dropped to 8.4 percent in the first half of 2017.
Fresh demand for the US currency from banks and importers weighed on the rupee sentiment, dealers said. Domestic equity markets opening with strong gains, however, helped the rupee cap losses, they added.
The NSE benchmark Nifty hit a record high Tuesday morning as it crossed the 10,000 mark for the first time ever. In opening trade this morning, the Sensex hit a new high of 32,374.30.
Air India spokesperson Dhananjay Kumar confirmed that AI’s food menu is being revamped for the winter season.
The practice of people driving down to far off locations to pick up a furniture unit, bringing it back home, and building it themselves might not work here, according to Ikea India’s deputy country manager Patrik Antoni.
Finance Minister Arun Jaitley said decisions including demonetisation, implementation of the Goods and Services Tax (GST) and benami law have been beneficial for the honest taxpayers.
As per the new norms, the members of the MPC including the RBI Governor will have to observe a “silent period” seven days before and after the rate decision for “utmost confidentiality”.
Asset quality takes a hit due to farm loan waivers, loans to firms in stressed sectors
Profits deteriorated sharply in the last two years as NPAs spiked and the RBI-mandated asset quality review forced them to make higher disclosures of non-performing loans.
On the anti-evasion measures taken by the government, Arun Jaitley said linking of taxpayer's permanent account number (PAN) with biometric identifier Aadhaar is aimed at preventing tax evasion using multiple PANs. Also, a watch is being kept on the nature of expenditure and if it is compliant with declared income of assessee.
"Coal India Ltd (CIL) has graded all mines in high, moderate and low risk categories. Mine-wise action plan to mitigate high and moderate risks and bring such mines into low risk category has been done by CIL," Coal Minister Piyush Goyal said
Post-merger all refining units of ONGC will be accumulated under HPCL, making it India's third largest oil refiner after Indian Oil Corp (IOC) and Reliance Industries, Pradhan said.
Jet Airways has introduced additional domestic flights to Mumbai with effect from July 15. It would arrive in Calicut from Mumbai at 12.10 hrs daily and in the return direction, leave Calicut at 13.50 hrs on all days, except Tuesday.
Jaitley introduced the Bill amid protests in the House by opposition members protesting over the alleged incidents of lynching by cow vigilantes in different parts of the country.
Asian ride-hailing firm Grab said it has a market share of 95 per cent in third-party taxi-hailing and 71 per cent in private-vehicle hailing in Southeast Asia, far ahead of main rival Uber.
Gold prices touched their highest in four weeks on Monday, assisted by the increasing political uncertainties in the United States. Meanwhile, dollar struggled near a 13-month low against a basket of major currencies.
The benchmark BSE Sensex resumed higher at 32,100.22 and moved between all time high of 32,232.63 and a low of 32,058.33 in morning trade. The 30-share index rose to 32,223.18 points, up 194.29 points, or 0.61 per cent at 1100 hrs.
Overseas, the US dollar struggled near a 13-month low against a basket of major currencies in early Asian trade, as US political woes dampened hopes for quick passage of President Donald Trump's stimulus and tax reform agenda.
The IMF in June shaved its forecasts for US growth to 2.1 percent for 2017 and 2018, slightly down from projections of 2.3 percent and 2.5 percent, respectively, just three months ago. For China, the IMF said it now expected stronger growth of 6.7 percent in 2017.
This suggests some of the informal sector enterprises either cut employment or hardly added jobs to protect margins even before the note ban in November last year accelerated the pace of churning in the informal sector
If one were to exclude RIL which reported its April-June numbers on July 20, net sales grew by only 6.5 per cent and net profit growth remained flat. RIL accounts for nearly 40 per cent of the aggregate revenue of the numbers declared so far
Studies showed increased risk of ‘adverse cardiac events’ in patients receiving BVS
"Export and manufacturing will get a big boost by Goods and Services Tax (GST). Maharashtra's revenue will increase by 25 per cent and illegal trading will come to a standstill," Nitin Gadkari said. The nationwide GST was rolled out from July 1.
Pilots have been asked to furnish surety bonds worth Rs 1 crore and the development also comes as the airline has "unilaterally" decided on salary cuts for them, said sources.
After conclusion of MPC meeting, a resolution needs to be made public including on the policy repo rate and any other monetary policy measures at the discretion of the Chairperson while keeping in view the functioning and timing of financial markets.
This means at least an additional amount of 1.6 per cent/Rs 25,000 crore of excess currency may be currently lying in ATMs and herein lies the importance of new Rs 200 notes which could serve as the "missing middle" it said.
A few names from the private sector have also been shortlisted, sources said. The central bank has four deputy governors -— two from within the ranks and one commercial banker and another an economist to head the monetary policy department.
The Central Board of Excise and Customs (CBEC) last week appointed Samanjasa Das as the Additional Director General (ADG) Safeguards in the Directorate General of Safeguards.
Panagariya, however, acknowledged that there is not enough creation of good jobs that pay good wages.
When asked if clean up of bank balance sheets is more important that rate cuts, Acharya said “That is certainly our number one priority.” The Gross NPA of banks has risen to 9.6 per cent in March 2017 from 9.2 per cent in September 2016, as per the RBI data.