Category: BUSINESS

New York, May 14 (DIN NEWS) Copier company Xerox Corp. has said it was ending an agreement to combine with Japan’s Fujifilm Holdings and is entering a settlement deal with investors Carl Icahn and Darwin Deason. Fujifilm opposed the move. The two companies had announced earlier this year that Fuji Xerox, their 56-year-old joint venture, would combine with Xerox, with Fujifilm Holdings taking a 50.1 percent stake in the newly formed company, New Fuji Xerox. The deal was meant to be part of a restructuring that, along with other reforms, would…

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Mumbai, May 14 (DIN NEWS) The benchmark BSE Sensex rose over 53 points in early trade today despite disappointing macroeconomic data. The 30-share barometer, which had gained 289.52 points in the previous session, was trading higher by 53.21 points, or 0.14 per cent, at 35,589, with realty, oil and gas, healthcare, PSU, banking and capital goods stocks leading the gains. On similar lines, the NSE Nifty went up by 15.55 points, or 0.14 per cent, to 10,822.05. Industrial output growth fell to a five-month low of 4.4 per cent in March…

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New Delhi, May 13 (DIN NEWS) The New Delhi Municipal Council (NDMC) has announced the e-auction of three of its premium hotels in Lutyen’s Delhi, including the five-star property Taj Mansingh, for a period of 33 years. The other two hotels are — The Connaught and Hotel Asian International. The civic body held a pre-bid meeting for the three properties last week and the submission period of bids is from May 15-June 7. “The auction of the three properties has been pending for quite a while. We have announced the launch…

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New Delhi, May 13 (DIN NEWS) The Reserve Bank of India (RBI) has declined to share inspection reports for scam-hit Punjab National Bank (PNB), citing RTI clauses that bar disclosure of details which may impede the investigation process or prosecution of offenders among other reasons. Replying to an RTI query, the central bank also said it does not have “specific information” on what resulted in detection of over Rs 13,000 crore scam at PNB and directed the application to the state-run bank for providing those details. The scam, considered to be…

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NEW DELHI:  Online registration for State Bank of India PO recruitment to end tomorrow. Bank job aspirants, who have not applied yet, should apply at the earliest. SBI will recruit for close to 2000 Probationary Officer posts, this year. Online registration including editing or modification of the application form can be done till May 13, 2018. After completing the registration process, the Bank will prepare for conducting the exam. The next process will be to prepare a list of valid applications registered for the exam. SBI will release admit cards for the prelims on June…

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New Delhi, May 12 (DIN NEWS) Reserve Bank has initiated prompt corrective action against public sector lender Dena Bank in view of high non-performing loans, restricting the bank from giving fresh credit and new hiring. The public sector lender yesterday reported widening of its net loss to Rs 1,225.42 crore in the March quarter on mounting bad loans and higher provisioning to cover them. The net loss stood at Rs 575.26 crore in the January-March quarter of 2016-17. Sequentially, the loss widened from Rs 380.07 crore in December quarter of 2017-18.…

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Share prices of Bharti Airtel and Idea Cellular fell sharply today after Reliance Jio Infocomm unveiled a new post-paid plan. Jio, the telecom arm of Reliance Industries, introduced an unlimited domestic post-paid plan for Rs. 199 and international calling starting at 50 paise per minute, starting 15 May. Under the Jio’s post-paid offering all services such as voice, internet, SMS, international calling will be pre-activated. Shares of Idea fell as much as 12.9 per cent to Rs. 50.80 at day’s low while Bharti Airtel declined around 7.5 per cent. Reliance Jio’s entry into the telecoms sector…

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The Sensex and Nifty closed at three-month highs on Friday, one day ahead of polling in Karnataka assembly elections. The BSE benchmark index rose 289 points to close at 35,535 while the NSE Nifty settled at 10,806, up 89 points. Advances were led by strong buying seen in banking, metal, energy and capital goods shares, with the NSE sectoral sub-indices rising more than 1 per cent each. Domestic shares took positive cues from shares in other Asian markets, where equities tracked an overnight rally in the US. MSCI’s broadest index…

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Washington, May 10 (DIN NEWS) Identifying China as a major national security challenge for the US, a top CIA official has told lawmakers that the spy agency has an important role in monitoring the Communist giant’s rise as a global power. Gina Haspel, who is currently the acting director of the CIA, would be the first female head of the spy agency if confirmed. ” The CIA has a very important role in monitoring China’s rise as a global power,” Haspel, US President Donald Trump’s nominee for the CIA Director, told…

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Mumbai, May 10 (DIN NEWS) There is a great deal of interest for the Air India disinvestment initiative, Civil Aviation secretary R N Choubey said today, amid the deadline for submission of preliminary bids ending this month. The last date for submission of Expression of Interest (EoI) for the proposed 76 per cent stake sale in the debt-laden airline ends on May 31. Earlier this month, the government had come out with clarifications related to the disinvestment move. “There is a great deal of interest for Air India,” Choubey said at…

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