Category: BUSINESS

Jet Airways on Monday reported a net loss of Rs. 1,323 crore for the April-June period. That marked a quarter-on-quarter increase of 27.7 per cent in the net loss. The airline had registered a net profit of Rs. 53.50 crore for the quarter ended June 30, 2017. Jet Airways’ revenue from operations for the first quarter of 2018-19 came in at Rs. 6,010 crore, 6.4 per cent higher from Rs. 5,648.87 in the corresponding period a year ago. The airline’s financial performance in the quarter was hurt by higher fuel…

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New Delhi, Aug 26 (DIN NEWS) In a major decision, the Defence Ministry today gave its nod to acquisition of 111 utility helicopters for the Navy at a cost of over Rs 21,000 crore besides approving separate procurement proposals worth nearly Rs 25,000 crore, according to officials. A meeting of the Defence Acquisition Council (DAC), the ministry’s highest decision-making body on procurement, cleared the proposals. The procurement of the naval utility helicopters will be the first project under the ambitious strategic partnership (SP) model which provides for roping in private…

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New Delhi, Aug 25 (DIN NEWS) In a major decision, the Defence Ministry today gave its nod to acquisition of 111 utility helicopters for the Navy at a cost of over Rs 21,000 crore besides approving separate procurement proposals worth nearly Rs 25,000 crore, according to officials. A meeting of the Defence Acquisition Council (DAC), the ministry’s highest decision-making body on procurement, cleared the proposals. The procurement of the naval utility helicopters will be the first project under the ambitious strategic partnership (SP) model which provides for roping in private…

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The rupee today sank 30 paise to close below the 70-mark against the US currency due to renewed worries about a hike in US interest rates amid global trade war jitters.The domestic currency ended at 70.11 per dollar, a loss of 30 paise or 0.43 per cent over the previous close. In day trade, the rupee had crumbled to a session low of 70.17 per dollar.The rupee suffered its the biggest single-day drop in past one week, snapping a two-straight session recovery trend.Forex sentiment wobbled with a resurgent dollar as…

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Facebook has identified and banned hundreds of accounts, groups and pages engaged in misleading political behaviour, a far larger discovery than a “sophisticated” effort it reported three weeks ago with great fanfare. The social network said yesterday that it had removed 652 pages, groups, and accounts linked to Russia and, unexpectedly, Iran, for “coordinated inauthentic behavior” that included the sharing of political material. Facebook has significantly stepped up policing of its platform since last year, when it acknowledged that Russian agents successfully ran political influence operations on its platform that…

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The rupee today erased all its early strong gains and eventually ended just a paisa higher at 69.81 against the US dollar due to fag-end demand for the greenback from importers amid lacklustre local equities.Despite a firm start, the domestic currency showed signs of fatigue and succumbed to renewed dollar pressure even as market participants stayed away from taking fresh positions ahead of a trading holiday.The release of the latest FOMC meeting minutes and the key speech by the Fed Chair Jerome Powell at the central bank symposium in Jackson…

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Hyderabad, Aug 20 (DIN NEWS) The United Forum of Reserve Bank Officers and Employees today said its members will go on mass casual leave on September 4 and 5, pressing their long-pending demands over pension related issues. According to a press release, United Forum today held a silent demonstration near the RBI office here which witnessed the participation of various leaders. “To express deep resentment at the attitude of the officials of the Government of India, RBI staff members have waited too long and the limit of patience is crossing…

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New Delhi, Aug 19 (DIN NEWS) No ATM will be replenished with cash after 9 pm in cities and 6 pm in rural areas from next year even as two armed guards will accompany crisp notes in transit as per a new directive issued by the Home Ministry. The deadline for putting money in the ATMs located in Naxal-hit areas is 4 pm while private cash handling agencies must collect money from the banks in the first half of the day and transport notes only in armoured vehicles. In a…

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The rupee, which has taken a severe battering of late, is expected to stabilise at 68-69 per US dollar level riding on positive capital inflows this month, Economic Affairs Secretary Subhas Chandra Garg today said.The rupee is already Asia’s worst performing currency and had touched an all-time low of 70.09 per US dollar on Tuesday.According to Garg, the current turmoil in Turkey, triggered by US sanctions, had not affected the perception of India. The flow of foreign portfolio investments (FPI) had not altered either and there had been no outflow…

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Mumbai, Aug 17 (DIN NEWS) Gold prices fell by Rs 55 per 10 grams at the bullion market here today following subdued demand from stockists and local jewellers. However, silver prices recovered modestly by Rs 85 per kg due to renewed demand from industrial units. Standard gold (99.5 per cent purity) prices fell by Rs 55 to end at Rs 29,315 per 10 grams from Thursday’s level of Rs 29,370. Pure gold (99.9 per cent purity) also moved down by a similar amount to finish at Rs 29,465 per 10…

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