Shell crackdown: Govt makes names of debarred directors public
Tuesday, September 19, 2017, 10:37 PM
Intensifying its crackdown on shell companies and their operators, the government has made public names of over 55,000 directors linked to such firms to ensure they do not get associated with similar roles again. More such names will be published soon as the government has already identified over 1.06 lakh directors for their association with shell firms.
Retailers boost holiday hires in stores to help tackle online sales
Tuesday, September 19, 2017, 10:13 PM
Major retailers are looking to stimulate anemic sales by hiring thousands of more workers this holiday season to improve customer service on their sales floors and handle the fast-growing use of their stores to fulfill online orders. The move comes as several analysts note that retailers have lost sight of basic in-store customer needs as they scrambled in recent years to compete better.
Assam to set up technology incubation centre at Guwahati Biotech Park
Tuesday, September 19, 2017, 9:52 PM
The Assam government has started a process to set up a technology incubation centre at Guwahati Biotech Park, seeking to promote new businesses in biotechnology and allied areas. The initiative will facilitate faster penetration of biotech industry and accelerate research & development activities in biotechnology and related fields with effective utilization of the rich natural resources of this region, the government said.
'OPPO F3' smartphone leads in mid-range segment in India
Tuesday, September 19, 2017, 9:43 PM
Chinese smartphone company OPPOs "OPPO F3" smartphone has been ranked number one amongst top sellers in the Rs 15,000 to Rs 30,000 price segment in India for the quarter April to June 2017, according to a report by market research firm Counterpoint. The "OPPO F3" smartphone topped the chart by capturing 24.2 percent of the sales amongst top sellers, the company said in a statement on Tuesday.
India needs Rs 3-4 lakh cr investment in aviation: Jayant Sinha
Tuesday, September 19, 2017, 9:36 PM
India would need Rs 3-4 lakh crore investment in aviation infrastructure in the next 10-15 years to reach 50 crore passenger trips, like China and the US, Minister of State for Civil Aviation Jayant Sinha said on Tuesday. "China today has got 50 crore passenger trips even if they have a high-speed rail network. The US too has 90 crore passenger trips," said Sinha.
CBI carries out searches at 16 places in Rs 60 crore loan forgery case
Tuesday, September 19, 2017, 9:30 PM
The CBI has registered eight cases relating to alleged forgery in getting Rs 60-crore as loans from the PNB and carried out searches at 16-locations in Delhi and Ambala today. The CBI has booked businessman Deepak Gupta, his wife Pallavi Gupta, Vineet Gupta, Adita Media Network Pvt Ltd, DG Footwear Pvt Ltd, Softmax Pvt Ltd, Shri Hari Overseas and Meroz Trading Pvt Ltd among others in these FIRs.
Greenko, ReNew plan to sell $750 million bonds
Tuesday, September 19, 2017, 8:12 PM
Two of India's biggest renewable energy companies, Greenko Group PLC and ReNew Power Ventures Pte Ltd, plan to sell a combined $750 million worth of rupee-denominated bonds in the domestic market, three bankers told Reuters on Tuesday. The pair turned to the domestic market after the central bank introduced limits on selling rupee-denominated bonds overseas, known as masala bonds, said the bankers.
Flipkart rolls out facilities for staff during Big Billion Days sale
Tuesday, September 19, 2017, 8:07 PM
Flipkart has rolled out a range of facilities for employees during its Big Billion Days sale that runs from September 20 to 24. As employees work round the clock during the sale period, the company has rolled out a range of measures that they can avail including yoga sessions at the desk, midnight floor games, arcade games and cafeteria jam sessions.
Winter travel hots up; overseas bookings see 22% growth
Tuesday, September 19, 2017, 8:04 PM
The approaching winter season has witnessed 22 percent growth in overseas bookings as compared to last year, according to a report. The winter is traditionally considered the peak season for Indian travellers. "More and more Indians are planning and investing in holidays. There is a significant rise in bookings for the winter season," Cox & Kings Head (Relationships) Karan Anand said.
Narendra Modi to flag off Varanasi-Vadodara Mahamana Express on Sep 22
Tuesday, September 19, 2017, 8:01 PM
Prime Minister Narendra Modi will flag off the country's third Mahamana Express from his Lok Sabha constituency of Varanasi on September 22, senior railway officials said today. On its maiden journey, the train will run from Vadodara (Gujarat) to Varanasi (Uttar Pradesh) after the PM will launch it using a remote control, they said.
Russian, Indian firms ink deal to produce drugs for HIV
Tuesday, September 19, 2017, 7:57 PM
Russian state-run National Immunobiological Company (Nacimbio) on Tuesday announced signing an agreement with Indian pharma firm Mylan Laboratories on the transfer of technology for producing readymade dosage forms and active pharmaceutical agents for the treatment of HIV. Under the agreement with the Indian arm of American firm Mylan NV, "there will be a transfer of technology for the production of both readymade forms and active pharmaceutical substances.
Govt will take action against Tejaswi Yadav's mall : Sushil Kumar Modi
Tuesday, September 19, 2017, 7:54 PM
Bihar government will take action against RJD leader Tejaswi Prasad Yadav for constructing a mall here allegedly in violation of building bye-laws, its Deputy Chief Minister Sushil Kumar Modi said today. "The state government will certainly take action against Tejashwi Prasad Yadav who started construction of a 15 storeyed mall on 7.66-lakh square foot-area in the state capital without getting maps approved by municipal authority,” he told.
GST Council to meet on October 6, may dole out sops to exporters
Tuesday, September 19, 2017, 7:46 PM
The 22nd meeting of the GST Council, chaired by Union Finance Minister Arun Jaitley, will be held on October 6 to deliberate on GSTN glitches and ironing out issues faced by exporters, a ministry official has said. The meeting was scheduled to be held on October 24 but was preponed in view of the engagements following Diwali festival.
Fast-track GST refund, else Rs 65K crore may be stuck: Exporters
Tuesday, September 19, 2017, 7:40 PM
Fearing that a staggering Rs 65,000 crore could get stuck in GST refunds, exporters today asked the government to fast-track the refund process and avoid further deterioration in their "liquidity situation". The Committee on Exports, chaired by Revenue Secretary Hasmukh Adhia, today met 8 export promotion associations to understand their concerns post the implementation Goods and Services Tax (GST) from July 1.
IOC pays Rs 2,935 crore to Odisha government to resolve tax issue
Tuesday, September 19, 2017, 7:37 PM
Indian Oil Corp today said it has paid Rs 2,935 crore to the Odisha government as part of the settlement reached to get back part of the tax incentives for the Paradip refinery project in the state. Last month, the state government agreed to give Rs 700 crore per annum of interest-free loan for 15 years to IOC to make up for the withdrawn incentive of 11-year deferment.