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  • Coal India set to boost supplies by at least 15 million tonnes annually
    on May 22, 2018 at 3:23 am

    KOLKATA: Coal India is set to increase supplies by at least 15 million tonnes annually in the next few weeks, with three new rail projects linked to high-capacity mines almost complete, company executives said.The additional supply will be enough to fuel almost 4,000 MW of power plants through the year, which will rise as more coal is transported, the executives said. The increased availability comes as demand for power rises with temperatures climbing in the summer.The new rail links will […]

  • Apax Partners sells stake in GlobalLogic, values firm at $2 billion
    on May 22, 2018 at 3:15 am

    BENGALURU: Apax Partners, which owned nearly half of outsourced product development firm GlobalLogic has sold its entire stake to private equity firm Partners Group, valuing the company at over $ 2 billion.Canada Pension Plan Investment Board (CPPIB), which acquired 48% in GlobalLogic in April 2017 will continue to remain invested in the US company that follows the offshore model and a base in India.“Partners Group has a long and successful track record of working with high growth […]

  • Textile ministry asks PSUs to buy locally
    on May 22, 2018 at 2:59 am

    NEW DELHI: The textile ministry has asked all ministries as well as departments and public sector undertakings (PSUs) to buy their textile and fabric requirements locally, a move that is expected to boost earnings of artisans in the country.In a May 15 letter, the textile ministry asked all ministries to give “purchase preference” to local content in the textile sector under the ‘Make in India’ scheme. This order seems to be on the lines of a diktat on flying, where […]

  • Sense of deja vu for foreigners as HDFC Bank window to open
    on May 22, 2018 at 2:48 am

    Mumbai: Over a year ago, regulators came under glare and chaos broke after overseas investors ended up breaching the maximum foreign holding limit in HDFC Bank, one of the prized stocks in Indian markets. Today, HDFC Bank faces the risk of a repeat of that fiasco, which could once again cause uncertainty among foreign investors and sharp swings in the stock.The Reserve Bank of India has foreign investment limits in various sectors as per government rules. In private sector banks, this cap is 74 […]

  • 'Affordable' boost increases home sales 13% in FY18
    on May 22, 2018 at 2:39 am

    MUMBAI: In a sign that could signal the beginning of a recovery in the residential property market, housing sales across top eight Indian cities recorded a 13% jump in FY18. This growth, led by affordable housing and mid-income segments, comes after the market witnessed a 5% rise in sales last year.Of the key markets, Mumbai Metropolitan Region witnessed the maximum growth of 25%, showed data from Liases Foras Real Estate Rating & Research.Mumbai was followed by Delhi-National Capital […]

  • Employees, IT vendors and CFO under lens for leaking earnings data of over a dozen cos
    on May 22, 2018 at 2:36 am

    Mumbai: Internal investigations by two banks and more than half a dozen companies have revealed that a few employees may have been aware about unpublished price sensitive information (UPSI) leaked before the quarterly results of these banks and companies were released.Most of the companies and banks have submitted their internal probe reports to the market regulator Securities and Exchange Board of India (Sebi) and action could be taken against these employees — including a CFO in one […]

  • Mayday: Oil, rupee punch holes in small, midcap ship
    on May 22, 2018 at 2:15 am

    Mumbai: The Wall Street adage — ‘sell in May and go away’ — is proving to be true for the Indian stock market, particularly for mid and smallcaps which are witnessing their biggest rout after six years. Mid and smallcap indices have fallen 8 per cent so far in May and down 12 per cent since January as worries about the country's worsening macro readings in the wake of rising oil prices and falling rupee prompt investors to dump the best performers of the bull run that […]

  • Opposition may have finally figured out how to stop Modi's momentum in 2019
    on May 22, 2018 at 2:07 am

    India’s divided opposition has seized on a new way to counter Prime Minister Narendra Modi’s powerful Bharatiya Janata Party: bringing national and regional rivals together to take on the ruling party.The reversal of the BJP’s fortunes in the southern state of Karnataka -- where it won the most seats but was ousted by a coalition composed of the Congress party and the regional Janata Dal (Secular) party -- marks one more election loss at the hands of a united opposition. […]

  • An Ambani company is making one last-ditch effort to avoid extinction
    on May 21, 2018 at 5:57 pm

    Reliance Communications and its subsidiaries filed pleas in the appellate tribunal to set aside the National Company Law Tribunal’s decision to start insolvency proceedings against them on a petition filed by network vendor Ericsson.The move comes as the Anil Ambani-controlled companies are in talks with Ericsson to settle a long-pending dispute over unpaid dues worth more than Rs 1,000 crore owed to the Swedish telecom equipment maker.Reliance Communications, Reliance Infratel and […]

  • British Columbia may open doors for talent from India
    on May 19, 2018 at 1:41 am

    VANCOUVER: In a move that could open the doors for skilled professionals in Canada’s technology sector, the province of British Columbia is looking at India in a big way to rope in talent under its provincial nominee programme.The programme enables the provincial government to nominate over 6,000 people every year to the federal government for permanent residency in British Columbia, based on an online points system that assesses the applicant’s work experience, language skills and […]

  • Former finance minister Yashwant Sinha quits BJP, says democracy in danger
    on April 21, 2018 at 8:06 am

    Former Union Minister Yashwant Sinha, who has been at loggerheads with the party leadership in recent years, announced on Saturday that he is quitting BJP. "Today I am taking 'sanyas' from any kind of party politics, today I am ending all ties with the BJP," Sinha while addressing the first meeting of Rashtra Manch, founded by him.Sinha said democratic institutions were being undermined under the NDA regime and vowed to work for the protection of democracy in the country. He said that though he […]

  • MahaRERA slaps penalty on 8 Mumbai Builders for violation of rules
    on March 13, 2018 at 5:28 pm

    MUMBAI: The Maharashtra Real Estate Regulatory Authority (MahaRERA) has slapped penalty of Rs 2 lakh to Rs 10 lakh on 8 builders in Mumbai for advertising real estate project without mentioning the authority’s website address and advertising a non-registered project. MahaRERA has taken this action on Suo-Motu basis.Of the 8 realty developers, builder Tridhatu Morya has been fined Rs 10 lakh for advertising a non-registered project. Rest of the 7 builders including Sumit Group, The Wadhwa […]

  • Meet the Amit Shah of China: How a professor-turned-politician powers Xi Jinping
    on March 12, 2018 at 9:02 am

    Now that a constitutional amendment abolishes presidential term limits, it has become possible for China's president Xi Jinping to rule as long as he lives. China's shift from a collective rule indicates how it prizes Xi who has articulated the ambition of China becoming the world leader by displacing the US. Xi has turned China from an inward nation to a country focused on winning the world. Behind Xi's ideological offensive is brainy professor-turned-politician Wang Huning who has guided two […]

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