Sep 06

Rupee zooms 31 paise against dollar in opening trade

Mumbai: The rupee surged by 31 paise to 66.51 against the US dollar in early trade today on selling of the American currency by exporters and banks amid sustained foreign fund inflows. Forex dealers said a higher opening in domestic equity market and a weak dollar against other currencies overseas after last week’s below-par US

Gold futures climb Rs 25 on global cues

New Delhi: Gold prices rose by Rs 25 to Rs30,945 per 10 gram in futures trade today as speculators widened their bets amid positive global cues. At Multi Commodity Exchange, the gold for delivery in October was trading Rs 25 or 0.08 per cent higher at Rs 30,945 per 10 grams in business turnover of

Sony slashes prices of premium Xperia X, Z5 smartphones

New Delhi: Sony India on Monday announced that it has slashed prices for its Xperia X and Z5 premium smartphones in India, effective from September 1. Earlier priced at Rs 48,990, Xperia X will now be available at Rs 38,990 while Xperia Z5 Premium will cost Rs 47,990 which was earlier available for Rs 55,990.

IndiGo announces daily flights from Hyderabad to Port Blair, Varanasi

Hyderabad: IndiGo, the country’s largest and fastest growing carrier, on Sunday announced that it will be introducing new daily flights from Hyderabad to Port Blair and Varanasi from September 30. The daily flight to Port Blair will be via Chennai while it will be a daily non-stop service to Varanasi. Additionally, IndiGo will operate its

Reliance Cap to expand customer base to 50 mn: Ambani

Mumbai: Embarking on a major expansion plan,Reliance Capital plans to increase customer base to 50 million from 20 million along with a fivefold expansion of reach to 25,000 cities and towns over the next 3-5 years, Chairman Anil Ambani has said. Reliance Capital, the financial services arm of Ambani-led business conglomerate, also plans to double

Parekh wonders why Railways should run so many hospitals

Mumbai: At a time when the Railways plans toinvest Rs 8.56 trillion to develop infrastructure, veteran banker Deepak Parekh today said the government needs to carefully evaluate its finances and focus on building only core assets. “The time has come for a careful evaluation of the Railways’ assets. If resources are scarce, there needs to

Ola fires 250 people citing non-performance, other issues

New Delhi: Within weeks of firing about 700employees of its TaxiforSure operations, cab aggregator Ola has now sacked close to 250 people from its own workforce citing non-performance and other issues. The move comes as the Bengaluru-based firm is locked in an intense battle with global rival Uber in the Indian market. “An annual attrition

Allahabad Bank to raise Rs 500 cr by issuing equity shares

New Delhi: State-run Allahabad Bank is lookingto raise up to Rs 500 crore by issuance of equity shares to qualified institutional buyers (QIBs). “The bank has planned to access capital market for raising capital up to the extent of Rs 500 crore by issuing equity shares by way of Qualified Institutions Placement (QIP) basis in

L&T bags orders worth Rs 1,458 crore

New Delhi: Infrastructure major Larsen & Toubro (L&T) today said its construction arm has bagged orders worth Rs 1,458 crore across business verticals. “The construction arm of L&T has won orders worth Rs 1,458 crore across its various business segments,” the company said in a BSE filing. L&T said its power transmission and distribution business

J&J to explore investment avenues in Telangana

Hyderabad: Johnson & Johnson Group, which makes a broad range of health care products, is keen to explore investment opportunities in Telangana. A delegation, led by Kathy Wengel, Worldwide Vice President, Johnson & Johnson Supply Chain (JJSC), met K T Rama Rao, Minister for Industries, here today and discussed investment avenues in the newly created

Axis Bank launches billing services under Bharat Bill Payment

New Delhi: Private sector Axis Bank today announced the launch of Bharat Bill Payment System (BBPS) based billing for select utility payouts. Axis Bank and the nodal agency to operate the integrated bill payment system National Payment Corporation of India (NPCI) said initially select services like electricity, gas, telephone and DTH will be covered. It

Urban unemployment climbs to 11.24% in August, rural 9.18%

New Delhi: The unemployment rate for urban areas read 11.24 per cent in August 2016, higher than the 9.18 per cent in rural pockets, according to data compiled by BSE and CMIE. The overall figure for the country stood at 9.84 per cent, showed data prepared by BSE in collaboration with the Centre for Monitoring

Jio users will never pay for domestic voice calls: Mukesh Ambani

Mumbai: Taking the current tariff war and competition in India’s telecom space to a new level, Reliance Industries Chairman Mukesh Ambani on Thursday announced that domestic voice calls on the Jio network will be free forever, and unveiled a four-month introductory offer for everyone of free voice and data services beginning on September 5. “The

Hero MotoCorp to launch 15 new products in FY17

New Delhi: Country’s largest two-wheelermaker Hero MotoCorp plans to launch 15 new products in domestic as well as international markets this fiscal, a top company official said today. “We will have 15 new launches across segments in our domestic and global markets this fiscal, out of which three motorcycles will be introduced in the domestic

Rupee edges up 6 paise to 66.96 against dollar

Mumbai:Rising for a second straight day, therupee firmed up by 6 paise to close at 66.96 against the greenback due to sustained dollar selling from exporters amid weak overseas tone. The local currency largely withstood the initial implied volatility in the face of month-end demand for the American currency from importers and staged a recovery

Technip India contributes Rs 23.64 lakh to Naam Foundation

Mumbai: Leading project management andengineering firm Technip India has contributed Rs 23.64 lakh to ‘Naam Foundation’, set up by noted actor Nana Patekar to support the drought affected people in Maharashtra. Patekar formed the NGO last year to address the problems of drought-hit farmers in 22 districts of Maharashtra facing water crisis since many years.

Paytm raises $60 mn from Mediatek

New Delhi: Taiwanese chip designer MediaTekis investing USD 60 million (about Rs 400 crore) in One97 Communications, which runs Paytm. The transaction values the digital payment services and e-commerce firm at about USD 5 billion. When contacted, a Paytm spokesperson confirmed the development. The funds will be used for expanding payments and commerce businesses and

Now book retiring room at railway stations on hourly basis

New Delhi: Now train passengers will be able to book retiring rooms on hourly basis as railways has revised the current practice of 12/24 hours booking rule to cater to the growing demand for lodging facility at railway premises. Railways provides lodging facility through retiring rooms to its passengers at stations spread across the country.

Airtel, Voda, Idea cut tariff, bundle plans ahead of Jio entry

New Delhi: As Reliance Jio’s commercial launch nears, incumbent telecom operators Airtel, Vodafone and Idea have cut tariff and bundled free calls with data to drive mass market adoption, brokerages said. The industry has been trying various data pricing strategies, with Bharti Airtel, Vodafone and Idea trying innovative price structures. Market leader Bharti Airtel yesterday

HTC to release iPhone-inspired smartphones soon

New York: Taiwanese consumer electronics company HTC is planning to unveil a new version of iPhone-inspired One A9 smartphones at this year’s IFA’s consumer electronics and home appliances trade show in Berlin in September. The device is expected to retain a similar design to the original One A9, with a few changes to the rear