Business News

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12 Feb 2017

India

Government announces plans for a start-up district

India is set to have its first start-up district in Dakshina Kannada.

11 Feb 2017

Business

Net Indirect tax collection grew by 17%, Net Direct 10.8%

Rs 5.82 lakh crores were collected in direct-taxes between April and January of the last financial-year, 10.8% more in comparison to the corresponding period in 2015-16.

11 Feb 2017

Air India

Air India Express eyes tie-ups to manage revenue losses

Low-cost carrier Air India Express (AIE) is looking for code-sharing agreements with other airlines for routes in South East Asia, following the loss of revenue from West Asia.

09 Feb 2017

PepsiCo

A company which rents brainpower

Xinova, founded in October 2015, is a Seattle-based company which rents out brainpower to solve problems.

Repo rate unchanged at 6.25%, monetary policy 'neutral'

The rupee closed at a three-month peak of 67.19, and Sensex fell by 45.24 points after the RBI kept repo rate unchanged at 6.25%.

08 Feb 2017

BMW

BMW i Ventures announces investment in 3D printing start-up

BMW i Ventures, the automaker's venture capital arm, has made several strategic investments in start-ups which it deemed would be instrumental in shaping future mobility.

RBI maintains status quo on Repo rate

Reserve Bank of India kept Repo rate steady at 6.25 per cent as announced in its Monetary Policy Review on Wednesday.

08 Feb 2017

Mark Zuckerberg

A group of Facebook shareholders want Zuckerberg gone

In what is uncannily similar to the Steve Jobs' ouster by Apple in 1985, a group of Facebook shareholders have filed a proposal to remove Facebook founder Mark Zuckerberg from his role as Chairperson of Facebook's board of directors.

08 Feb 2017

Arun Jaitley

Punishment if govt employees criticize govt action

Finance Minister Arun Jaitley issued a warning to all government employees of disciplinary action if they criticised government policies in public.

07 Feb 2017

India

Govt reduces stakes in ITC by 2%

The government divested 2 percent of its stake held in FMCG giant ITC through the Specified Undertaking of the Unit Trust of India (SUUTI).

07 Feb 2017

Arun Jaitley

The core team that drafted the Budget

Finance Minister Arun Jaitley was closely assisted by a team of seven top officials in drafting the Budget for 2017-18.

07 Feb 2017

Arun Jaitley

Capital gains tax only on sham transactions - CBDT

An "exhaustive list" of transactions will be exempted from the proposed 10 per cent long-term capital gains tax on investors in unlisted companies, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said today.

05 Feb 2017

RuPay

Banks free to fix charges on cashless transactions

To encourage greater participation by banks in developing cashless economy, the Reserve Bank of India (RBI) has allowed them the freedom to fix service charges on cashless transactions.

05 Feb 2017

Donald Trump

App helps you find love based on what you hate

People often look for partners with whom they have much in common, especially mutual likes.

IDFC chief Vikram Lamaye to head NSE

After the sudden exit of former chief Chitra Ramkrishna from the National Stock Exchange (NSE) two months ago, the largest bourse in the country today selected IDFC MD and CEO Vikram Lamaye to fill in the position.

Retrospective tax relief on FPI indirect tranfers

With retrospective effect from financial year 2011-12, two categories of foreign portfolio investors (FPIs) are exempted from tax on indirect transfers.

03 Feb 2017

Arun Jaitley

Oil PSUs to merge into a giant company

Major oil PSUs will be combined to form a behemoth oil company, FM Arun Jaitley announced in the Budget 2017-18.

02 Feb 2017

India

Budget 2017: Tax sops to boost MSME ecosystem

Finance Minister Arun Jaitley announced a variety of tax sops directed at the micro, small and medium enterprises (MSME) sector in the budget yesterday.

01 Feb 2017

India

Understanding the Union Budget

The Union Budget is the annual financial statement mandated under Article 112 of India's Constitution. From this year, the Budget will be presented on Feb 1.

Piramal buys intrathecal spasticity drug from UK's Mallinckrodt

Piramal Enterprises would buy a drug portfolio for Rs 1,160 crore from UK-based Mallinckrodt LLC for treating spasticity (muscle disorder) and pain management.

31 Jan 2017

Toyota

Volkswagen trumps Toyota to be world's largest carmaker

Japanese carmaker Toyota has lost its title of being the world's biggest carmaker to German giant, Volkswagen.

31 Jan 2017

India

Top sector expectations from the budget

Auto, banking, FMCG, infrastructure and power sectors are expecting a push from the government.

31 Jan 2017

India

Arun Jaitley presents Economic Survey 2016-17 to Parliament

Finance Minister Arun Jaitley tabled the Economic Survey 2017-18 prepared by Chief Economic Advisor Arvind Subramanian.

31 Jan 2017

Foxconn

Apple's indifference to President Trump's demands

President Trump, who is pushing hard for American goods to be "made in America", vowed during his campaign that he would force Apple to start producing on US soil.

30 Jan 2017

India

Mastercard eyes on tapping India's e-commerce growth

Identifying India among top priorities in the Asia-Pacific region, Global payments giant Mastercard said they will further invest in the country, where they grew by over 30% in the last two years.

30 Jan 2017

Bharti Airtel

India Post launches payment bank in Raipur and Ranchi

Enabling greater financial inclusion to rural areas, India Post Payment Bank (IPPB) was launched on pilot basis in Ranchi and Raipur today.

30 Jan 2017

Washington DC

Donald Trump's decision to ban refugees and immigrants

On Friday, Donald Trump signed an executive order which suspended the intake of refugees from Syria for 120 days, and blocked immigration from Syria, Iran, Iraq, Libya, Yemen, Sudan and Somalia for 90 days.

28 Jan 2017

Johnson & Johnson

Johnson & Johnson buying Swiss biotech firm Actelion for $30bn

American healthcare major Johnson & Johnson (J&J) is acquiring Swiss biotech firm Actelion in a $30 billion all-cash deal.

27 Jan 2017

Apple

Is Apple really making an iCar?

Although Apple has not commented on any plans to make an electric car, there are rumours abound which say that Apple is making an electric car with autonomous driving features.

Indian techie sells company for $3.7bn to Cisco

Jyoti Bansal, an IIT Delhi alumnus, has sold his company AppDynamics to Cisco for $3.7 billion.

26 Jan 2017

Indian Army

Border security start-up receives funding boost

In a pre-series A funding round, border security start-up CRON Systems raised an undisclosed-amount from VC firm YourNest. YourNest has recently announced the launch of its second fund which was set up in September 2016 with a Rs.300 crore corpus.

26 Jan 2017

DLF

INOX is leading bidder for SRS cinemas

INOX Leisure Limited (INOX) is reportedly the highest bidder for SRS Cinemas.

24 Jan 2017

India

Budget giveaways uncertain due to demonetization distress

Finance Minister Arun Jaitley is under pressure to offer tax giveaways and increase capital and welfare spending in the upcoming union budget.

21 Jan 2017

Flipkart

E-commerce sector losses could remonetize economy

E-commerce sector biggies like Flipkart, Snapdeal and Amazon have cumulatively reported an increase of 51% of total losses amounting to Rs.11,754 crore.

20 Jan 2017

San Francisco

Uber to pay $20mn to "misled" American drivers

Uber has agreed to pay $20 million to settle allegations that it "misled" drivers with false promises on how much they would earn and pay to finance a car.

17 Jan 2017

India

Rolls-Royce to pay $813 million for bribery settlement

UK engineering giant Rolls-Royce, in exchange of avoiding prosecution over bribery charges, is set to pay over $600 million to Britain's Serious Fraud Office (SFO), $170 million to the US Department of Justice, and $25 million to Brazil's Ministério Público Federal.

15 Jan 2017

NITI Aayog

45 people become lakhpatis under NPCI schemes

The Centre revealed that its incentives of announcing lucky draws to encourage electronic payments had already made 45 people 'lakhpatis'.

14 Jan 2017

Vietnam

PETA buys share in Louis Vuitton Moet Hennessey

Animal rights activist group PETA has bought shares in French luxury goods company Louis Vuitton Moet Hennessey (LVMH) in a bid to stop it from selling exotic animal skin products.

13 Jan 2017

India

Apple's plans of setting up a manufacturing plant in India

Apple, the world's most valuable company, is in the process of negotiating terms with India for setting up a manufacturing plant.

13 Jan 2017

Alfa Romeo

Chrysler cheats on emission: Hides regulator from EPA

The Environmental Protection Agency accused Fiat Chrysler of violating Clean Air Act by purportedly installing and slipping to reveal software in almost 104,000 cars and trucks that reconstructs emissions.