- The government on Thursday gave in-principle approval to kick off the process for strategic sales in about 20 PSUs/units, including profitable ones, to garner resources for sustaining the momentum of its spending in the current year and next.The post Cabinet clears sale of 20 PSUs; to pare stake in BEML to 28%, exit Scooters India, Pawan Hans, more appeared first on The Financial Express..
Private sector retirement: PM Narendra Modi tells Labour Ministry to ensure retirees get dues on superannuation dayPrime Minister Narendra Modi has directed labour ministry officials to ensure that those working in the private sector get all their due retirement benefits on the day of superannuation itself, in line with those working in the government sector.
The post Private sector retirement: PM Narendra Modi tells Labour Ministry to ensure retirees get dues on superannuation day appeared first on The Financial Express..
Gung-ho on road construction targets, Nitin Gadkari led Highways ministry to ask for 57% hike in allocationFirmly poised to achieve its ambitious targets on road construction, the ministry of road transport andhighways will ask for budgetary allocation of R91,000 crore for 2017-18, up 57% from the current year’s outlay, which the ministry is set to overshoot by about R4,500 crore.
The post Gung-ho on road construction targets, Nitin Gadkari led Highways ministry to ask for 57% hike in allocation appeared first on The Financial Express..
- More than 60 individuals and entities, an overwhelming number of them Indians, were on Thursday charged by the Justice Department for allegedly participating in a multi-million dollar scam involving call centres based in India which conned thousands of American citizens.
- The Central Board of Direct Taxes (CBDT) has entered into five Unilateral Advance Pricing Agreements (APAs) with Indian taxpayers.
The post CBDT signs five unilateral advance pricing agreements with Indian taxpayers appeared first on The Financial Express..
- The US economy’s third-quarter scorecard on Friday will probably show a notable pickup in growth following a sluggish first half.The post Growth rebound in US masks demand picture that’s not as bright appeared first on The Financial Express..
- Despite facing a massive debacle in form of recall of Note 7 model, the South Korean giant has maintained its lead in the global smartphone market in the third quarter.
- The Cabinet on Thursday approved a new agreement for a free trade regime between India and Bhutan, which also facilitates duty-free transit of Bhutanese merchandise for third countries export.
- At the close, the 50-share NSE Nifty was flat at 8,615.25 after shuttling between 8,624.85 and 8,550.25.
- Inter-ministerial body FIPB on Thursday cleared seven proposals envisaging foreign investment of Rs 100 crore.
- Tata Sons' on Thursday came out with a long-statement on issue involving Cyrus Mistry's ouster and claims made by him thereafter.
- The Union Cabinet today gave in-principle approval to NITI Aayog's proposal for strategic sale of state-owned firms and entrusted DIPAM with the task of finalising the PSUs in which management control can be transferred to private players.
- The Goods and Services Tax Network (GSTN) today signed a memorandum of understanding with the commerce ministry for sharing of foreign exchange realisation and import-export code data.
Unforgivable Cyrus Mistry attempted to besmirch Group&#039;s image in eyes of employees: Tata GroupHitting out at Cyrus Mistry for making 'unsubstantiated claims and malicious allegations', Tata Sons today said the former chairman was fully empowered to lead the group and its companies but had "overwhelmingly" lost the confidence of board members.
- It is a matter of deep regret that a communication marked confidential to Tata Sons board members has been made public in an unseemly and undignified manner.
- The Federation of Indian Airlines (FIA) on Thursday moved the Supreme Court seeking stay on the operational clearance granted to AirAsia India or directions for expeditious hearing of the matter pending before the Delhi High Court.
- Panama on Thursday became the member of a global convention that aims to combat cross-border tax evasion by sharing foreign taxpayer details with other governments, a move considered by 'Panama Papers' leak affected nations like India as positive in unravelling the financial irregularities.
- ONGC, India's largest explorer, reported 6.3% rise in its second quarter net profit, even as it announced a bonus share to increase liquidity ahead of govt disinvestment. Net profit of Rs 4,974.92 crore in the July-September quarter of the current fiscal was higher than Rs 4,681.39 crore last year.
- Amid calls from some quarters for boycott of Chinese goods in ongoing Diwali season, China on Thursday said any such move will negatively impact the India-bound investments from its enterprises and also the bilateral cooperation between the two countries.
- Capital markets regulator Sebi has ordered Life Care Infratech and its six directors to deposit Rs 3.45 crore in four months for refunding the investors' money raised through illegal money pooling scheme.
- Union Cabinet on Thursday approved closure of loss-making tractor division of HMT at Pinjore, while sanctioning Rs 718.72 crore for payment of outstanding salaries and other dues at the public sector entity.
- The biggest update is the JCW Tuning Kit, which bumps up the power to 210PS and 300 Nm.
- A National Academic Depository (NAD) for school certificates, degrees and academic awards will be operationalised within three months, wherein students and employers can access the verified documents digitally.
- Inter-ministerial body FIPB on Thursday cleared seven proposals envisaging foreign investment of Rs 100 crore.
- This Diwali has brought with it many new cars to the market and heavy discounts and offers for the existing ones.
- Government on Thursday decided to extend stock limits on sugar traders by another six months till April 2017 in order to check sweetener prices, which at present are ruling around Rs 40 per kg.
Unforgivable that Cyrus Mistry attempted to besmirch Group&#039;s image in eyes of employees: Tata GroupHitting out at Cyrus Mistry for making 'unsubstantiated claims and malicious allegations', Tata Sons today said the former chairman was fully empowered to lead the group and its companies but had "overwhelmingly" lost the confidence of board members.
- Mahindra group's realty firm Mahindra Lifespace Developers Ltd on Thursday reported over five fold jump in consolidated net profit at Rs 32.17 crore for the quarter ended September 30, 2016 and will raise up to Rs 300 crore through rights issue.
- Ahead of Diwali, the Centre today approved 2 per cent dearness allowance and relief benefitting about 50.68 lakh employees and 54.24 lakh pensioners.
- The Cabinet Committee on Economic Affairs (CCEA) today approved the Rs 500 crore special horticulture package to Jammu and Kashmir to help apple growers rejuvenate old orchards and start new ones.
- The Union Cabinet today gave in- principle approval to Niti Aayog's proposal for strategic sale in over a dozen public sector undertakings (PSUs) including those that are making profits.
- The Reserve Bank of India notice on Thursday highlighted the pitfalls of fake currency notes in circulation and warned the public of "unscrupulous elements putting into circulation fake currency notes of higher denominations."
- Japanese carmaker Nissan said it will build its new Qashqai model at Britain`s biggest car plant, confirming a report from Reuters, marking the first major investment from the autos-industry since the UK voted to leave the EU.
- The Union Cabinet on Thursday gave in-principle approval to the proposal of NITI Aayog for strategic stake sale in over a dozen PSUs, including profit making ones.
- "The Telangana government will be coming up with IoT and Smart Technology Policy, which will be encouraging the start-ups, home grown players and the IoT based product development companies," Telangana IT Secretary Jayesh Ranjan said here.
- Management of urban infrastructure, especially water, will become a challenge with more and more people shifting to cities, Finance Minister Arun Jaitley said today.
The post Management of water a challenge in urban India, says Arun Jaitley appeared first on The Financial Express..
- Auto industry veteran and Maruti Suzuki India Chairman RC Bhargava on Thursday said Ratan Tata needs to be given credit for attempting to offer an affordable car to the masses through Nano, which ousted Tata Sons Chairman Cyrus Mistry wanted to shut down due to mounting losses.
- Amidst a small section of people in India running "Boycott Chinese Goods" campiagn, China has warned such a move would hurt ties and investments in both countries.
The post China warns India: ‘Boycott Chinese Goods’ campaign would hurt ties, investment appeared first on The Financial Express..
- The company had posted a net profit of Rs 1,497 crore during the July-September period of last fiscal, 2015-16.
- After logging gains for two days, gold price today headed lower by Rs 15 to Rs 30,700 per 10 grams ahead of the auspicious Dhanteras Friday as buyers put off their buying activity amid a weak trend overseas.
- Telecom czar Sunil Bharti Mittal has been elected as Chair of GSMA that represents interests of mobile operators worldwide.
- The Civil Aviation Ministry is keeping a close watch on developments related to the purported disclosures made by ousted Tata Group chairman Cyrus Mistry about AirAsia India, where Tatas are a partner, and will act if something actionable is brought to its notice.
- More than 1,300 new foreign portfolio investors (FPIs) have registered with capital markets regulator Sebi in April-August of 2016-17, showing a sign of their willingness to be part of India's growth story.
- Union Food Processing Industries Minister Harsimrat Kaur Badal said the government would soon sanction 100 new cold chain projects and has decided to set up 500 cold chain projects across the country.
- Two Tata group companies, Tata Steel Ltd and Indian Hotels Co on Thursday said their financial statements present a true and fair value of their respective companies, in response to stock exchange requests for clarification.
- Officials have said that the Cabinet has approved a 2 percent dearness allowance in the salary of people working with the Central government.
The post Cabinet approves 2 percent DA for Central government employees appeared first on The Financial Express..
- In what could bring cheers to 50 lakh central government employees and 58 lakh pensioners ahead of Diwali, the Union Cabinet on Thursday approved 2 percent hike in dearness allowance to be effective from July 1, 2016.
- The Service Tax Department will next month auction liquor baron Vijay Mallya's corporate jet of the now-defunct Kingfisher Airlines to recover dues of Rs 535 crore. The department has invited online global bids for sale of Corporate Jet Airbus A319.
- After the 2017 model of the bigger KTM 390 Duke, now the updated KTM 200 Duke has been spotted testing in India.
- Zee Media Bureau
New Delhi: In what could bring cheers to 50 lakh central employees and 58 lakh pensioners ahead of Diwali, the Union Cabinet on Thursday approved 2 percent hike in dearness allowance to be effective from July 1, 2016.
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