Category: BUSINESS

Farnborough (UK), Jul 16 (DIN NEWS) Prime Minister Theresa May today announced a new 2.0 billion pounds (2.3 billion euros, USD 2.7 billion) programme with Italy’s Leonardo to design a new generation fighter jet as Britain aims to project aerospace prowess into its post-Brexit future. “Today I can announce that the government will join with BAE Systems, Leonardo, MBDA and Rolls Royce to fund the next phase of the Future Combat Air System Technology Initiative through a ground-breaking partnership known as Team Tempest,” she said.

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New Delhi, July 15 (DIN NEWS) Bhushan Steel Ltd, acquired by Tata Steel under corporate resolution process, said today that its board of directors has approved the appointment of T V Narendran as chairman and non-executive additional director of the company. Narendran, CEO and MD of Tata Steel, has more than 30 years of experience in metal and mining industry. A new management team has been put into place at Bhushan Steel Ltd after it was acquired by Tata Steel Ltd through India’s new insolvency and bankruptcy process. “The Board…

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New Delhi, Jul 15 (DIN NEWS) Government think tank Niti Aayog is working on a proposal to replace LPG subsidy with cooking subsidy in order to extend the benefits to people using piped natural gas and biofuels for cooking purposes, a top official said today. Niti Aayog Vice Chairman Rajiv Kumar said subsidy should be applicable for all fuels that are used for cooking. At present, the government extends subsidy to users of Liquefied Petroleum Gas (LPG). “Niti Aayog is working on a proposal to replace LPG subsidy with cooking…

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Mumbai, Jul 12 (DIN NEWS) The US dollar ended sharply lower against the rupee at 68.57/58 per dollar and the pound sterling also finished lower at Rs 90.44/46 at the close of the Interbank Foreign Exchange (forex) market here today. Following are the Interbank forex and RBI rates : (In Rs per unit) Unit Interbank RBI Reference US Dollar 68.57/56 US Dollar 68.6313 Pound Sterling 90.44/46 EURO 80.1650 Euro 79.88/90 Japanese yen (100) 60.

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New Delhi, Jul 13 (DIN NEWS) Union Minister Arun Jaitley today exuded confidence that India will pip Great Britain to become the fifth largest economy in the world next year if economic expansion continues at the projected rate. However, rising international crude oil prices and the global trade war would throw up challenges going forward, he said. “If we keep growing at the rate which is being projected, it is likely that next year we will be the fifth largest economy ahead of Great Britain,” Jaitley said in a Facebook…

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Mumbai, Jul 12 (DIN NEWS) The benchmark Sensex jumped over 250 points to hit a record high of 36,525.66 points in early trade today, ahead of the release of key macroeconomic data amid fresh foreign capital inflows. The 30-share index rose by 259.73 points, or 0.72 per cent, to hit a new high of 36,525.66, surpassing its previous intra-day record of 36,443.98 hit on January 29. The gauged had gained 691.38 points in the previous four sessions, powered by a sharp rally in IT bellwether TCS following strong quarterly results.…

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Mumbai, Jul 12 (DIN NEWS) The BSE Sensex soared over 400 points to hit its record high after Reliance Industries (RIL) reclaimed USD 100 billion (approx Rs 6,86,604 crore) market capitalisation as its shares a hit 52-week high today. RIL, HDFC and HDFC Bank collectively contributed nearly 300 points to the gains on Sensex. At 1200 hrs, the 30-share index rallied 413.89 points, or 1.14 per cent, higher to 36,679.82, surpassing its previous high of 36,444 recorded on January 29, 2018. The broader Nifty-50 index is also trading above the…

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Mumbai, Jul 11 (DIN NEWS) Benchmark Sensex rose for the fourth session today to perch near its all-time peak, powered by a sharp rally in IT bellwether TCS following strong quarterly results. The BSE Sensex rose over 26 points to close at 36,265.93 — just shy of its lifetime closing high of 36,283.25 hit on January 29. The 30-share barometer has now gained 691.38 points in just four sessions. TCS spurted 5.47 per cent to its lifetime high of Rs 1,979.60, topping the Sensex gainers list, after the company yesterday…

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The rupee slipped 12 paise to 68.84 against the US dollar in early trade today due to fresh buying of the American currency by importers amid sustained foreign fund outflows. Forex dealers said the dollar’s strength against a basket of some currencies overseas too weighed on the rupee, but a higher opening of the domestic equity markets limited the fall. Yesterday, the local currency had gained 15 paise against the US dollar to close at 68.72 on sustained dollar selling by exporters and banks amid a stellar rally in local…

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