Category: BUSINESS

Qingdao, Jun 9 (DIN NEWS) Prime Minister Narendra Modi and Chinese President Xi Jinping today held talks here to draw a blueprint for deepening bilateral relationship and reviewed the implementation of decisions they had taken at an informal summit in Wuhan, reflecting a renewed momentum in their ties. Their second meeting in nearly six weeks since the Wuhan summit took place on the sidelines of the SCO meet and covered key aspects of the bilateral engagement, reflecting the resolve by the two countries to reset relations and bring back trust…

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Washington, Jun 8 (DIN NEWS) Google would not be developing artificial intelligence for use in weapons, its CEO Sundar Pichai has said, after facing a backlash over the technology giant’s involvement in a Pentagon project. Google recently announced it would discontinue work with the Department of Defense on Project Maven, an artificial intelligence project that analyses imagery and could be used to enhance the efficiency of drone strikes. Following this, thousands of employees had signed onto a letter warning that Google’s participation contravened the company’s ethical tenets. Stating that “Google…

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Mumbai, Jun 8 (DIN NEWS) The US dollar ended higher against the rupee at Rs 67.50/51 per dollar and the pound sterling finished higher at Rs 90.40/42 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 67.50/51 US Dollar Rs 67.5228 Pound Sterling 90.40/42 EURO Rs 79.5824 Euro 79.21/23 Japanese yen (100) 61.

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Amaravati (AP), Jun 7 (DIN NEWS) Direct flight services between Singapore and Amaravati, the capital city of Andhra Pradesh, will commence within 30 days, Chief Minister N Chandrababu Naidu said today. Singapore Airlines has come forward to operate direct flights between the two cities, he said. “We are giving all necessary clearances required for that,” he told a press conference. Singapore Minister for Information and Communication S Iswaran was also present. The decision to operate direct flights between Amaravati and Singapore was taken at the third meeting of the Joint…

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Bhubaneswar, Jun 7 (DIN NEWS) Union oil minister Dharmendra Pradhan today voiced optimism that petroleum products will be brought under the GST purview that will help in checking volatility in fuel prices. “In the long run, petroleum products are bound to be included within the ambit of the GST regime … It is only a matter of time. It will immensely help in containing prices of petrol and diesel,” Pradhan told reporters here. He, however, declined to specify any timeline on bringing petroleum products under the Goods and Services Tax…

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New Delhi, Jun 6 (DIN NEWS) Providing major relief to the MSME sector, RBI today eased NPA classification norms for such units facing input credit linkages and associated issues. “In continuation of support and relief to MSMEs, NPA recognition for GST and non GST MSMEs now at 180 days for dues up to December 31, 2018. Tapering norm from January 1, 2019 to encourage GST registration” Financial Services Secretary Rajiv Kumar said in a tweet. In February, banks and NBFCs were allowed to temporarily classify their exposures to the Goods…

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Lucknow/New Delhi Jun 6 (DIN NEWS) Uttar Pradesh Chief Minister Yogi Adityanath has directed officials to expedite the process for Baba Ramdev’s Patanjali Ayurved to set up its Rs 6,000-crore food park, prompting the company to say it is reviewing the decision to pull out of the project. Yesterday, Patanjali had stated that it was pulling out of the mega food processing project along the Yamuna Expressway in Uttar Pradesh, citing non-cooperation from the state government and delay in clearances for transfer of land. Over the development, UP Infrastructure and…

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Mumbai, Jun 5 (DIN NEWS) The rupee today weakened further against the US dollar in choppy trade, falling by another 4 paise to end at 67.15 ahead of tomorrow’s RBI policy outcome. Trading was largely confined to a tight range for most part of the day with no directional strength and market moving factors. Currency traders and speculators were also cautious ahead of the rate-setting Monetary Policy Committee’s review decision tomorrow. Expectations of capital inflows and some dollar selling by foreign banks, however, helped the Indian currency to trim some early…

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New Delhi, Jun 5 (DIN NEWS) Former RBI Governor Raghuram Rajan today expressed concern over escalation of trade war between the US and China saying it would be a “lose-lose” situation if the two major economies carry out their threats. Rajan also cautioned that the situation can get “out of control very quickly” hampering global growth. The Trump administration’s decision to impose tariffs on aluminium and steel imports had triggered a trade war with several countries including China, which announced retaliatory measures. “Well I think at this point the biggest risk…

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Mumbai, Jun 4 (DIN NEWS) Gold today dropped by Rs 75 per 10 grams to extend its losses for a second day at the bullion market here due to poor offtake by stockists and retailers. Silver, however, recovered marginally by Rs 20 per kg on mild offtake from industrial units. Standard gold (99.5 per cent purity) declined by Rs 75 to close at Rs 30,745 per 10 grams from its Friday’s closing level of Rs 30,820. Pure gold (99.9 per cent purity) also fell by the same amount to close at…

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