Category: BUSINESS

Defence Minister Rajnath Singh and Russian Minister of Industry and Trade Denis Manturov will address defence industry representatives at the India Russia Defence Industry Cooperation Conference in Moscow on Tuesday, Ficci said. A 50-member industry delegation will visit Moscow on November 5-6 to explore ways to jointly manufacture spares and components with Russia’s original equipments manufacturers (OEMs) under the Make in India initiative, the industry body stated.The Federation of Indian Chambers of Commerce and Industry (FICCI), jointly with the Ministry of Defence, will be leading a 50-member industry delegation to…

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US President Donald Trump has said that he is considering signing the first phase of the long-awaited trade deal with China in Iowa.Trump and Chinese President Xi Jinping were expected to ink the agreement at the Asia Pacific Economic Cooperation summit in Santiago, Chile in mid-November. But host Chile announced on Wednesday that it was cancelling the event due to ongoing mass demonstrations. “We’re moving along with the deal with China. China wants to make the deal very much and we have a good relationship and we’ll see what happens.…

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Under attack for not being able to prevent scams in the banking sector, the RBI on Friday reorganised its supervisory and regulatory functions into two departments to deal more effectively with potential systemic risk.The central bank had separate departments for supervisory function as well as regulatory function which have been integrated into two unified departments.The development follows the RBI’s central board decision to create separate supervisory and regulatory cadre.The Indian banking sector has witnessed a series of scams, including about Rs 14,000 crore fraud in Punjab National Bank and the…

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Market benchmark BSE Sensex surged over 293 points to hit its record intra-day high of 40,344.99 on Thursday led by rally in index heavyweights Infosys, SBI, HDFC Bank and TCS.After opening on a strong note, the 30-share index was trading 263.69 points, or 0.66 per cent, higher at 40,315.56 in morning session. The broader NSE Nifty too advanced 71.85 points, or 0.61 per cent, to 11,915.95.Top gainers in the Sensex pack included SBI, Infosys, Tata Motors, Yes Bank and Sun Pharma, rising up to 4.35 per cent. On the other…

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The Indian rupee settled 6 paise lower at 70.90 to the US dollar on Wednesday as participants exercised caution ahead of the Federal Reserve’s monetary policy decision. However, the rupee loss was somewhat capped by unabated foreign fund inflows, domestic stocks rally and lower crude oil prices. Starting off weaker, the domestic currency went on to hit a low of 71.03 against the US dollar during the day. It, however, claimed some of its lost ground to settle at 70.90, showing a fall of 6 paise over its previous close.…

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(Eds: Disclaimer: The following press release comes to you under an arrangement with Business Wire India. DINN takes no editorial responsibility for the same.) A world-leading German science and technology company is the most recent organisation to announce its collaboration with District 2020 in Dubai Mumbai, Maharashtra, India & Dubai, United Arab Emirates: Business Wire India Merck KGaA Germany, a leading science and technology company, announced today the establishment of its Sustainability Centre in District 2020, Dubai. With a special focus on countries of the Global South, the centre comprises…

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Mumbai, Oct 29 (DINN ) Equity benchmark BSE Sensex jumped over 100 points in early trade on Tuesday led by gains in Tata Motors, RIL and TCS, amid foreign fund inflow. After hitting a high of 39,393.12, the 30-share index was trading 106.37 points, or 0.27 per cent, higher at 39,356.57 in morning trade, and the broader NSE Nifty advanced 16.75 points, or 0.14 per cent, to 11,643.90. Tata Motors was the top gainer in the Sensex pack, rallying over 13 per cent, after its British arm Jaguar Land Rover…

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Mumbai, Oct 28 (DINN) The Reserve Bank has imposed a penalty of Rs 35 lakh on Tamilnad Mercantile Bank for violating norms on frauds classification and notification. The central bank imposed the fine via an order dated October 24, 2019. The bank has been penalised for “non-compliance with certain provisions of directions issued by RBI on frauds classification and reporting by commercial banks and select FIs directions 2016,” the RBI said in a release on October 25. “This action is based on the deficiencies in regulatory compliance and is not…

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New Delhi, Oct 28 (PTI) The Centre has given the environment clearance for Rs 819 crore water metro project that aims to provide better connectivity of islands around Kochi with the mainland, according to official document. The Union Environment Ministry has given the final environment clearance to the proposed project after taking into account the views of its green panel. Kochi Metro Rail Ltd (KMRL), a joint venture firm of the Centre and Kerala government, is the implementing agency of the proposed project. As per the proposal, the project will…

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Equity benchmark BSE Sensex jumped over 250 points in early trade on Thursday tracking gains in index heavyweights HDFC twins and L&T amid mixed global cues.After hitting a high of 39,327.15, the 30-share index was trading 143.09 points, or 0.37 per cent, higher at 39,201.92 in morning trade, and the broader NSE Nifty advanced 30.10 points, or 0.26 per cent, to 11,634.20. HCL Tech was the biggest gainer in the Sensex pack, rising over 3 per cent, after the IT major on Wednesday posted a 6.9 per cent rise in…

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