Category: BUSINESS

The BSE benchmark Sensex snapped its three-day gains, plunging 383 points due to heavy selling mainly in financial and auto stocks as rising crude prices and rupee volatility spooked investorThe flagship index swung nearly 880 points both ways on alternate bouts of buying and selling during the session.The NSE Nifty too fell by 131.70 points to slip below 10,500-mark. Intense selling pressure was witnessed in select counters led by auto, realty and oil&gas stocks. Sentiments were also hurt by liquidity concerns that dragged down non-banking financial stocks.Meanwhile in the forex market,…

Read More

Prime Minister Narendra Modi Monday warned oil producers like Saudi Arabia that high crude prices are hurting the global economy and sought a review of payment terms to provide a temporary relief to the local currency.India, the world’s third-biggest oil consumer, has been over the past two months battered by high crude oil prices that have sent retail petrol, diesel and LPG rates to record high, posed inflationary risks and together with a sliding rupee threatened to upset its current account deficit. Also, unrelenting fuel price rise since mid-August has…

Read More

 PepsiCo’s India-born former CEO Indra Nooyi has said she would cause a third World War if she joins politics as she is too outspoken .Asia Society, a non-profit organisation that focuses on educating the world about Asia, honoured 62-year-old Nooyi Tuesday with the ‘Game Changer of the Year Award’ here in recognition of her business achievements, humanitarian record and advocacy for women and girls around the world.Asked if she would like to join US President Donald Trump’s Cabinet now that she has stepped down as Pepsi CEO, Nooyi said, “Me…

Read More

A second team of the Financial Action Task Force (FATF) is in Pakistan to hold meetings with top officials to discuss the measures taken by the country to counter money laundering and terror financing after it was added in the ‘grey list’ for providing monetary assistance to terrorists. The nine-member delegation, comprising members of FATF’s Asia Pacific Group (APG), arrived here on Sunday on a 12-day visit to see the implementation of the action plan Pakistan had issued earlier this year, official sources said. The team includes experts from British…

Read More

Salaries in the country are projected to increase by 10 per cent in 2019, the highest in the Asia Pacific region, according to a report.While noting that the salaries had risen by the same quantum in 2018, it attributed the high salary increments compared to other countries in the region to the steady economic growth, progressive reforms and cautious optimism across sectors.The global advisory, broking and solutions company Willis Towers Watson in its Q3 2018 Salary Budget Planning Report noted that the pharmaceuticals sector has the highest projected salary increase…

Read More

  Indraprastha Gas, India’s biggest city gas retailer, is looking at setting up CNG dispensing stations within residential housing complexes to ease queues at CNG pumps, its Managing Director E S Ranganathan said.IGL also plans to foray into e-vehicle charging segment by setting up charging facility at its CNG stations, he said.The company, which retails CNG to automobiles and piped cooking gas to household kitchens in the national capital and its suburbs, is facing pressure to cut queues at CNG stations that have led to traffic snarls in many parts of…

Read More

The total outstanding of cash-strapped Air India towards government for VVIP charter flights stands at Rs 1146.86 crore, according to the latest response from the national carrier to an RTI application.According to the details furnished by the Air India on September 26 to applicant Commodore Lokesh Batra (retd), the Defence Ministry has outstanding bills of Rs 211.17 crore, Cabinet Secretariat and PMO Rs 543.18 crore and External Affairs Ministry Rs 392.33 crore.Some of the oldest pending bills for the visits of the president, the vice president and the evacuation flights…

Read More

China warned Friday that its critical relationship with the United States could break “like a glass,” and used the most global of stages to warn the Trump administration it wouldn’t be pushed around on trade.Foreign Minister Wang Yi insisted that his country “will not be blackmailed” or bow to pressure. “Protectionism will only hurt oneself, and unilateral moves will bring damage to all,” he told the UN General Assembly gathering of world leaders.President Donald Trump this week cranked up punitive tariffs on China, and Beijing responded in kind, escalating a…

Read More

Benchmark Nifty declined for the third session to end 47.10 points lower at 10,930.45 Friday, dragged by strong selling pressure in metal, realty, auto, infra, media, pharma and IT sectors.Investors adopted a cautious stance ahead of RBI’s policy meeting next week. Surging crude oil prices and negative sentiment in global equities also added to the gloom. Overseas, European stocks were trading lower while Asian shares ended mixed.The Nifty 50 index fell 47.10 points or 0.43 per cent to 10,930.45, its lowest closing level since July 9, 2018. It saw an intra-day movement…

Read More