Category: BUSINESS

New Delhi, Jan 26 (DIN NEWS) The government will take up Rs 50,000-crore projects to decongest Delhi that is battling with the twin problems of air and water pollution, Union Minister Nitin Gadkari said Saturday. Road Transport and Highways Minister Gadkari was addressing an event here after laying the foundation stone for a Rs 2,820-crore highway corridor project that will link Akshardham to the Eastern Peripheral Expressway (EPE) junction on Baghpat road. “Delhi is facing problem of air and water pollution. There are frequent traffic jams. We have taken a…

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US President Donald Trump has set his eyes on the “high” 150 per cent Indian duties on American whisky after he struck what he called a “very fair” deal with India in about two minutes on the 100 per cent tariffs on the iconic motorcycle Harley-Davidson. India in February last year slashed the customs duty on imported high-end motorcycles like Harley-Davidson to 50 per cent after Trump called it “unfair” and threatened to increase the tariff on import of Indian bikes to the US.At a White House event on the Reciprocal…

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Air India Express will launch its first direct flight service from Surat to Sharjah on February 16 and will also expand services from Gulf to Kannur in Kerala.The carrier, the international budget arm of Air India, will deploy Boeing 737-800 NG aircraft on this route.The flight will depart from Sharjah at 7:35 PM and arrive in Surat at 11:45 PM on Mondays and Saturdays, the airline announced in a statement.From Surat, the flight will depart at 12:30 AM with arrival into Sharjah at 02:15 AM on Tuesdays and Sundays. This…

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Urbanisation will be a big driver of economic growth in India going forward, supported by favourable macroeconomic factors, accelerated infrastructure building and continuing reforms, NITI Aayog CEO Amitabh Kant said Wednesday. Speaking here at an event on sidelines of the World Economic Forum Annual Meeting, he also said the Indian economy may even exceed the IMF growth forecast of 7.5 per cent for the country.Kant said IMF has forecast 7.5 per cent growth for India despite a gloomy outlook for the global economy and this itself is good, though there…

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 Rising for the straight fifth session, the benchmark Sensex rallied 250 points after opening on a cautious note Monday, on continued buying in select bluechips by domestic investors amid a positive cues from other Asian bourses. The 30-share BSE index jumped 228.12 points, or 0.63 per cent, to 36,614.73 in early trade. The NSE Nifty, too, rose 53.10 points, or 0.49 per cent, to 10,960.05. Sectoral indices led by healthcare, IT, auto, FMCG, power and oil & gas advanced up to 0.57 per cent. Brokers said, besides sustained buying by…

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Non-filers of GST returns for 6 consecutive months will soon be barred from generating e-way bills for movement of goods.The Goods and Services Tax Network (GSTN) is developing such IT system that businesses who have not filed returns for two straight return filing cycle, which is 6 months, would be barred from generating e-way bills, an official said.”As soon as the new IT system which will ensure barring of e-way Bill generation if returns are not filed for 6 months is put in place, the new rules will be notified,”…

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 External Affairs Minister Sushma Swaraj Saturday assured African nations that India will continue to be their trusted partner and work closely for the economic and social empowerment of Africans.Addressing ministers and representatives of around 50 African nations to mark the first-ever ‘Africa Day’ at the ongoing Vibrant Gujarat Global Summit here, Swaraj said Prime Minister Narendra Modi has declared Africa as the “top priority” in India’s foreign and economic policy.”As Africa marches in its journey towards security, renewal and prosperity, India will remain a trusted partner, working closely with Africa…

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 Microsoft on Wednesday pledged USD 500 million for loans and grants aimed at ramping up construction of affordable housing in the Puget Sound area of Washington state where the US technology giant has its home.“In recent years, our region hasn’t built enough housing for the people who live here,” Microsoft executives Amy Hood and Brad Smith said in a blog post.”We are committing USD 500 million as a company to advance affordable housing solutions.” Microsoft was only a few years old when it moved from New Mexico to the Seattle area…

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 State-owned Indian Oil Corp (IOC) may raise about USD 3 billion more through US dollar bonds issue after the Reserve Bank permitted fuel retailers to raise an overseas loan to check fall in rupee value, its Chairman Sanjiv Singh said Wednesday.IOC is already in market to raise USD 900 million through a bonds issue and is raising an equivalent sum through a syndicated loan for meeting its working capital requirements.”Yes, we will certainly look at raising more overseas loans within the limit set up by RBI,” he told reporters here.RBI…

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The Indian rupee Tuesday plunged by another 13 paise to close at one-month low of 71.05 against the US dollar amid strengthening greenback and surging crude oil prices. At the Interbank Foreign Exchange, the rupee opened weaker at Rs 70.79 then lost further ground and fell to a low of 71.15 against the American currency.The domestic unit, however, gained some strength and finally settled at 71.05 a dollar, down 13 paise over its previous close.This was the third straight session of loss for the rupee. The domestic currency Monday plunged…

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