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Re gains 14 P to trade at 2-week high in opening trade

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The rupee gained another 14 paise to trade at a two-week high of 63.95 against the US dollar in opening trade on Thursday on dollar selling by exporters and banks amid firm equities. The dollar’s weakness against other currencies overseas also supported the rupee sentiment, a currency dealer said. The moved between 63.98 per dollar and 63.93 per dollar at the interbank forex market in early trade. The dollar fell further against the yen to hit a 15-month low in Asian trade while the euro gained after a firm German…

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LEGAL NEWS NEWS CATEGORIES 

Court sends suspected IM terrorist to police custody

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A Delhi court has sent an alleged Indian Mujahideen terrorist, who had escaped during the 2008 Batla House encounter and was wanted in connection with several blasts, to 25 days police custody. Additional Sessions Judge Sidharth Sharma gave Delhi Police 25 days to conduct Ariz Khan’s custodial interrogation. Khan, who was arrested on February 13, was produced before the court last evening. Seeking his remand, the special cell of the police told the court that he was required to be quizzed in relation to the Batla House case and in…

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BUSINESS NEWS CATEGORIES 

Jewellery stocks take a hit after PNB fraud

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Shares of Gitanjali Gems today plunged up to 19 per cent in morning trade after the company came under scanner of various investigating agencies following the Punjab National Bank’s declaration of nearly Rs 11,400-crore fraud. The stock today opened on a bearish note at Rs 48, then lost further ground to touch a low of Rs 47.50, down 18.94 per cent over its previous closing price. Similar movement was seen on the NSE as well, where the stock tanked 18.73 per cent to a low of Rs 47.50. Meanwhile, some…

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NEWS CATEGORIES WORLD NEWS 

South Africa’s Jacob Zuma resigns as president

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South African President Jacob Zuma resigned from the position today, ending an impasse with his ruling African National Congress (ANC), which was planning to side with opposition parties in Parliament to remove him via a motion of no confidence. Zuma’s resignation comes three days after the ANC’s national leadership decided at a marathon meeting in the early hours of Monday to ask him to resign, which he had defiantly refused. “I resign as President of the Republic (of South Africa) with immediate effect,” Zuma said in a nationally-televised broadcast, ending…

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NATIONAL NEWS NEWS CATEGORIES 

Norway urges world to work together to protect oceans

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Norway is working to put sustainable use of oceans on the top of the international agenda, the country’s envoy here today said, exhorting the world to work together to check marine pollution. Ambassador of Norway to India Nils Ragnar Kamsvag made the remarks during his address at the opening of the three-day World Sustainable Development Summit, hosted by The Energy and Resources Institute (TERI) at the India Habitat Centre. The envoy cited an incident from last year, when a whale was found on the west coast of Norway, with over…

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NATIONAL NEWS NEWS CATEGORIES 

Rouhani lauds India’s diversity, peaceful co-existence of religions

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Iranian President Hassan Rouhani today lauded India’s cultural diversity, saying multiple faiths and schools of thought co-exist peacefully in the county. Speaking at a meeting with Muslim intellectuals, scholars and clerics here tonight, Rouhani, who arrived here on a three-day India visit, said Islam is not a religion of violence, but one of moderation. “Iran wants unity, independence and support for the East. Iran wants fraternity with India. We do not want to have any differences with other countries as well,” said Rouhani who is on his first India visit…

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BUSINESS NEWS CATEGORIES 

Will take full capacity action against guilty: PNB

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New Delhi, Feb 15 (DIN NEWS) The Punjab National Bank (PNB) today said it will take “full-capacity” action against the wrong doers in the Rs 11,400-crore Nirav Modi fraud case, which started in 2011. The state-owned bank said it had detected USD 1.77 billion fraud in which billionaire jeweller Nirav Modi allegedly acquired fraudulent letters of undertaking (LoUs) from one its branches for overseas credit from other Indian lenders. PNB has suspended 10 officers over the scam and referred the matter to the CBI for investigations. The Enforcement Directorate is continuing…

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NEWS CATEGORIES WORLD NEWS 

Uber CEO aims to pare losses and get ‘the love back’

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San Francisco, Feb 15 (DIN NEWS) Uber CEO Dara Khosrowshahi is focused on cutting the company’s massive losses and “getting the love back” after a year of damaging revelations about the ride-hailing service’s sometimes heartless treatment of its employees, drivers, regulators and rivals. “We strive to be and should be a brand that is as beloved as Amazon and Google,” Khosrowshahi said late Wednesday during an appearance at a Goldman Sachs technology conference. “We have a long way to go, but we have to re-earn our consumer and driver trust. Just…

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NEWS CATEGORIES WORLD NEWS 

2 Indians sentenced for smuggling fake cigarettes into US

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Washington, Feb 15 (DIN NEWS) Two Indians have been sentenced to nearly two years of imprisonment by a federal court in Florida on charges of conspiring to smuggle counterfeit cigarettes into the United States. Besides Abhishek Shukla and Harish Shabhai Panchal, the two Indians, Jubilee Tobacco Industries Corp – an India-based company – was found guilty in the case. The company has been ordered to forfeit USD 300,000 to the US, the Department of Justice said today. The three have pleaded guilty to the charges. According to the guilty plea, they…

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NATIONAL NEWS NEWS CATEGORIES 

Two killed in fire at stationery shop-cum-residence

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Thane, Feb 15 (DIN NEWS) A woman and her five-year-old daughter were killed in a fire at a shop in Airoli area of Navi Mumbai early today, a fire department official said. The fire broke out around 4 am in the stationery shop in which the victims used to live, Airoli fire station in-charge Eknath Pawar said. On getting information about the blaze, firemen rushed to the spot. As the shop was locked from inside, they broke open the door to enter the premises engulfed with dense smoke, he said. The…

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