May 13

Vijay Mallya’s extradition hearing deferred to June 13

The hearing on the issue of embattled Indian tycoon Vijay Mallya’s extradition from the UK has been deferred to June 13, Britain’s Crown Prosecution Service (CPS) has said. The CPS will be arguing on behalf of the Indian authorities when the fugitive businessman’s extradition case comes up for hearing at Westminster Magistrates’ Court in London

‘India’s IPR policy a good first step, needs to address gaps’

India’s national intellectual property regime (IPR) policy announced a year ago is a “good first step”, but the country needs to address the gaps in it to attract more foreign direct investment and global talent, a US industry representative said today.“The National IPR Policy is a good first step. Now, we look to the Government

India-UK agree on MoU in urban transport sector

India and the UK agreed to sign an MoU in the urban transport sector for cooperation in policy planning, technology transfer and institutional organisation.Union Minister for Road Transport, Highways and Shipping Nitin Gadkari, who is here on a three-day visit, finalized the bilateral cooperation arrangement between the Transport for London (TfL) and the India’s Ministry

Nestle India’s January-March net profit up 6.7%

Nestle India on Friday reported a surge of 6.7 per cent in its net profit after tax for the first quarter (Q1) of 2017. The company’s net profit for the January-March quarter stood at Rs 306.76 crore — up 6.7 per cent from Rs 287.32 crore in the same period in 2016.Nestle India on Friday

India making concerted push to tackle bad loan: Fitch

Fitch Ratings said Indian authorities are making a more concerted push to clean up bad loans in the banking sector but the move would impinge on banks’ profitability in the short-term. It said that asset resolution would be a dominant theme in the sector over the next few years and further losses may push some

Infosys pushes salary hikes to July, even later for executives

Infosys has deferred salary hikes for employees to July and even later in case of senior executives as the Indian tech industry struggles to cope with uncertain environment and visa-related issues in key markets like the US. Typically, the country’s second-largest software services firm rolls out increments from April but this year the hikes have

Registration for GST enrolment to re-open

The revenue department said that 60.5 lakh entities have enrolled themselves with the GSTN system and for the remaining tax payers it will reopen for 15 days from June 1. The process to enrol taxpayers on the GSTN portal was suspended on April 30. The government intends to roll out the Goods and Services Tax

Sebi bans ESBI Infra from raising funds from investors

Market regulator Sebi on Friday barred ESBI Infrastructure Company from mobilising fresh funds from investors through issuance of securities till further orders for not complying with public issue norms. The order follows Sebi receiving a complaint against the Kolkata-based company alleging that it had collected huge amounts of money from the public by way of

Local bodies and industry directors visits Ludhiana

Local bodies and industry directors visits Ludhiana. After the directions of Punjab Chief Secretary, three members committee was formed to look over the controversial around 12 acre located in Focal point area. Three committee members including Local Bodies Director KK Yadav, Industry director RK Verma and Ludhiana MC Commissioner Jaskiran Singh visited the land to

Mutual funds see Rs. 1.51 lakh crore inflow in April

Investors have pumped in nearly Rs 1.51 lakh crore into various mutual fund schemes in April, with liquid, income and equity funds attracting most of the inflows.This comes following an outflow of close to Rs 55,000 crore in the preceding month.“Indian investors have now eventually assimilated mutual funds and the credit goes to awareness programs

iPhone 7 world’s best-selling smartphone in Q1

Apple iPhone 7 has emerged as the worlds best-selling smartphone model in the first quarter of 2017, with an estimated shipment of 21.5 million units that captured six per cent market-share worldwide, a new report said. Apple iPhone 7 Plus, with a bigger screen and higher price, shipped 17.4 million units for second place and

Limaye’s BCCI role to be over in August: NSE to Sebi

Seeking to fast-track Sebi’s approval for appointing Vikram Limaye as its new CEO, leading exchange NSE has informed the regulator that his involvement with cricket body BCCI would be over by August, sources said. In case Limaye is required to remain associated beyond August with the BCCI, as member of the CoA appointed by the

Sensex, Nifty up by 49, 15 points respectively

Markets continued to ride the wave of gains early on Friday with the BSE Sensex rising by about 49 points and the Nifty by over 15 points, driven by sustained rally in IT, tech, auto and metal sector stocks amid sustained foreign fund inflows.Besides, optimistic buying by investors ahead of macroeconomic data — industrial production

Microsoft aims at creating a more versatile Windows 10

Microsoft previewed the update of Windows 10 on Thursday in Seattle during its annual conference for applications developers. The company will try to make Windows 10 more versatile with a wave of new features for creating memories, exploring virtual scenery and hopscotching from personal computers to mobile devices.The company didn’t specify when it will be

Now Tech Mahindra looks to lay off hundreds on ‘performance’ ground

After Infosys and Wipro, it’s now IT firm Tech Mahindra that could hand out pink slips to hundreds of employees as it looks to “weed out bottom performers”. Tech Mahindra which ranks fifth in the tally of Indian IT firms by revenues has begun its annual performance appraisal process. “We have a process of weeding

Softbank gets Nexus’ nod for selling Snapdeal to Flipkart

Japan’s SoftBank has secured the crucial nod from co-investor Nexus Venture Partners (NVP) for sale of Snapdeal to India’s largest e-commerce firm, Flipkart, sources said. SoftBank the largest shareholder in Snapdeal had secured a go-ahead from the founders and Kalaari last month. However, NVP was not in agreement over the valuation suggested by the Japanese

NPA norms welcome, will force decisions: Shikha

Axis Bank MD and CEO Shikha Sharma welcomed changes in NPA resolution as moves that will “force” decisions by cutting layers, and also said the bank is looking for one more life insurance distribution tie-up. “There are layers of process (in resolution). What the ordinance is doing is that it is cutting that layer off

Lalu’s daughter bought land worth Rs 100 cr for just 1 cr

Lalu’s daughter bought land worth Rs 100 cr for just 1 cr. RJD chief Lalu Prasad Yadav is not just involved in the fodder scam but now Lalu has landed himself in a “super land bonanza” in some of the most lavish enclaves of the union capital. The land has been purchased under the name

Alitalia to hire investment bankers to handle sale

Alitalia will select one or more financial advisor to manage its sale, a commissioner picked by the government to run the bankrupt flagship airline, Luigi Gubitosi, said on Wednesday.“We will hire one or more advisor. We will invite contenders to a beauty contest in the coming days and will make our choice,” Gubitosi told journalists

Apple plans $1.4b US data centre expansion
Apple plans $1.4b US data centre expansion

Apple has announced plans for a $US1 billion ($A1.4 billion) expansion of its massive data centre east of Reno in the US state of Nevada. The spend will double its investment in the site and roughly triple its workforce at the technology campus where company officials expect to hire 100 additional workers.Apple currently has more