Breaking News

Business

CCEA nod to 40 LMT sugar buffer stock at Rs 1,674 cr: sources

New Delhi: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Wednesday is said to have approved the creation of a buffer stock of 40 lakh metric tonnes (LMT) of sugar for one year from August 1, 2019, to July 31, 2020, at an estimated cost of Rs 1,674 crore. “Creation of buffer stock of …

Read More »

Kenya woos Indian investors to help boost exports

Nairobi: Kenya on Wednesday encouraged Indian investors to set up manufacturing plants locally that will help to boost the country’s exports in order to reduce the bilateral trade deficit. Betty Maina, Principal Secretary in the Ministry of Industry, Trade and Cooperatives told journalists in Nairobi that India is one of Kenya’s biggest sources of imports. “We are seeking additional Indian …

Read More »

Govt yet to take call on privatisation of Kerala airport

New Delhi: The government on Wednesday said it is yet to take a final call on privatisation of Thiruvananthapuram airport in Kerala where the state government is keen on running it and has urged for the same. “The Government still has to take a call on whether the airport to which there is a reference… Whether we should proceed or …

Read More »

India to host Global Innovation Index launch

New Delhi: India will host the launch of the 12th edition of Global Innovation Index (GII) 2019, an official said on Tuesday. Accordingly, the GII report will be unveiled by Railways and Commerce & Industry Minister Piyush Goyal and World Intellectual Property Organisation’s (WIPO) director general Francis Gurry in New Delhi on Wednesday. The event is being co-hosted by the …

Read More »

SC cancels RERA registration of Amrapali Group

New Delhi: The Supreme Court on Tuesday came down heavily on Amrapali Group, a major real estate company, by penalising it extensively for committing fraud on thousands of homebuyers who invested their hard-earned money in its various projects. A Bench headed by Justice Arun Mishra cancelled registration of Amrapali Group of Companies under RERA (Real Estate Regulatory Authority) along with …

Read More »

BSNL chairman gets tough, sets targets for business verticals

New Delhi: State-run telecom firm BSNL chairman P K Purwar has set sales targets for the company’s various business verticals – fixed line, enterprise businesses, Fibre-to-Home and consumer mobility or wireless – to be achieved by the telecom circles in the current fiscal. The move is aimed at checking the build-up of operational losses that is pushing the public sector …

Read More »

Stall privatisation of ordinance factories, Mamata urges PM

Kolkata: West Bengal Chief Minister Mamata Banerjee here on Tuesday wrote to Prime Minister Narendra Modi to stall and reverse the move to corporatise all the ordinance factories, including the Ordinance Factory Board, headquartered in Kolkata. Noting that industrial policies under the Modi government have gradually been made more and more friendly towards the private companies, Banerjee said some core …

Read More »

BIZ SCAN

IMF lowers India’s economic growth projection NEW DELHI: The International Monetary Fund (IMF) on Tuesday slightly lowered India’s economic growth projection in 2019 to 7 per cent. According to IMF’s World Economic Outlook Update, India’s economy is set to grow at 7 per cent in 2019, picking up to 7.2 per cent in 2020. “The downward revision of 0.3 percentage …

Read More »

‘India will achieve 8% plus growth from FY 2020-2021 onwards’

New York: India will achieve a GDP growth of 8 per cent plus from fiscal year 2020-2021 onwards as the structural reform measures like the GST are set to yield the intended benefits, NITI Aayog Vice Chairman Rajiv Kumar has said. The eminent economist was in the city for the high level political forum ministerial meeting on Sustainable Development Goals …

Read More »

SC orders status quo on NCLAT verdict in Essar Steel insolvency case

New Delhi: The Supreme Court Monday ordered status quo as of today in the Essar insolvency case. A bench headed by Justice R F Nariman said the monitoring committee will continue its work till the case is heard on August 7. The bench was hearing a plea of the Committee of Creditors challenging NCLAT’s order of July 4 in which …

Read More »