Business News
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UAE offers free crude for Mangalore oil reserves
UAE's oil major ADNOC, has offered India two-thirds of oil imports for free if India agrees to store ADNOC's oil in its strategic reserve at Mangalore, Karnataka.
TAM to stop giving TV ratings
TAM Media Research will stop giving TV ratings from 29 Feb'16.
Disinvestment target maybe missed for 6th straight year
With equity markets down by about 13% since the start of the fiscal year 2015-16, the government is likely to miss the disinvestment target for FY 2015-16.
Quick Heal raises Rs.133.9 crore before IPO launch
Quick Heal Technologies, the software provider raised Rs.133.9 crore by issuance of shares to anchor investors such as BNP Paribas Advantage.
Facebook turns 12!
Social networking giant Facebook marked its 12th birthday with 1.5 billion active users on the platform.
Sesame Street launches venture fund
Collaborative Fund and Sesame Workshop, the non-profit parent organization of children's TV show Sesame Street, announced that they have launched a venture capital arm called Sesame Ventures.
Alphabet trumps Apple as world's most valuable company
Google's parent company Alphabet overtook Apple as the most valued company after its strong quarterly earnings report surpassed expectations and sent its shares soaring by 6.4% in after-hours trading.
Manufacturing PMI touches a 4 month high
Nikkei's Manufacturing Purchasing Managers' Index (PMI) in India has rebounded to a 4 month high of 51.1 in Jan'16 after reporting a 28 month low of 49.1 in Dec'15.
India producing 100 million phones
Telecom Minister Ravi Shankar Prasad announced that India's mobile phone production has increased to 100 million mobile sets per year in 2015 from 68 million in 2014.
Company-owned stores on the anvil for Lenovo India
Chinese computer technology giant Lenovo, has announced plans to open company-owned stores in India.
India now among 10 largest nations in IMF
India and China have now come in the league of the 10 largest nations in the IMF, after the IMF quota reforms were ratified by the US Congress.
Chinese investors betting big on India
India will witness big investments from China as Chinese companies plan to invest $5-10 billion in India in the next few years.
Ratan Tata invests in tea startup- TeaBox
TeaBox, the online tea retail startup, has raised an undisclosed amount in funding from Ratan Tata, former chief of the Tata Group.
A new PPP model for road development
The government has approved the new Hybrid Annuity Model (HAM) for road projects, to accelerate highway construction in the country.
Disney, consulting companies sued over H-1B row
Two of Disney's former employees Leo Perrero and Dena Moore filed lawsuits against Disney, Cognizant and HCL Inc.
National Investment Grid to boost investment
The government may embark on a new National Investment Grid to give a push to investment in the country.
World's largest oil refinery to be built by Indian PSUs
Indian Oil, Hindustan Petroleum Corporation, Bharat Petroleum Corporation and Engineers India Ltd., will build a mega refinery with a cumulative capacity of 60 million metric tones per annum.
Coke launches dairy drinks in India
Coca-Cola entered the value-added dairy drinks segment in India with its flavoured milk product brand Vio.
SAIC motor of China to buy GM India's plant
SAIC Motors, a Chinese auto-major is planning to purchase General Motors India's (GMI) Halol manufacturing unit located in Gujarat.
Govt modifies gold monetization scheme to make it attractive
The government has refined the gold monetization scheme to make it more attractive and customer friendly.
Quickr and Snapdeal launch vernacular language support
With small towns poised to become the biggest e-commerce markets, e-classifieds firm Quickr launched 7 regional language interfaces for users to choose from.
Budget boost likely for industrial corridor projects
The Department of Industrial Policy and Promotion has asked the Finance Ministry to increase the outlay for industrial corridors for the coming financial year 2016-17 to Rs.3000cr from the existing Rs.1200cr.
India bounces back to glory at WEF
The optimistic stint at World Economic Forum brought India back to its glorious position, among the economic gloom, resurrecting confidence among Indian business and political leaders.
Wanda Group signs billion-dollar deal with Haryana
Haryana State Industrial and Infrastructure Development Corporation signed an MoU with Dalian Wanda Group for the development of a world-class industrial park in Sonepat, Haryana.
Rupee may touch 70/$ mark
If analysts are to be believed, the Indian rupee could soon touch the Rs.70 per $ mark.
Govt to reduce tax disputes by 50%
In a bid to make taxation policies people friendly, the government is working on reducing the number of pending tax disputes by half.
MUDRA bank not to regulate MFIs
Government has said that the MUDRA (Micro Unit Development and Refinance Agency) Bank will not act as regulator for Micro Finance Institutions (MFIs)
ShopClues bags a whopping $1 billion valuation
E-commerce giant ShopClues raised close to $150 million from Singaporean sovereign-wealth fund GIC Pte Ltd, propelling it into the ranks of the Indian unicorn companies.
India-China trade deficit rises to $45 billion
The trade deficit between India and China has risen to $45 billion for 2015.
Baidu plans to buy stakes in Indian start-ups
Baidu, the Chinese internet search giant, is looking to enter the Indian market and is in talks with Zomato, Bookmyshow and Big Basket to purchase 'strategic stakes' in them.
Binny Bansal: The next CEO of Flipkart
Flipkart's Chief Executive Sachin Bansal announced that he will be stepping down from his role, and the company's co-founder Binny Bansal will take his place.
Rs.4000 crore to be invested to upgrade Paradip refinery
Indian Oil will upgrade its Paradip Refinery to meet the Euro VI norms to be adopted by the country from 2020.
CII Partnership Summit off to a flying start
At the inauguration of the 22nd CII Partnership Summit, Finance Minister Arun Jaitley announced a new programme called "Stand Up India" wherein every branch of every bank, public or private sector, will have to fund one SC/ST and one woman entrepreneur.
Commercial coal mining to re-open to private firms
Government is set to reopen commercial coal mining to private companies for the first time in 40 years, with the aim of shifting the world's third-biggest coal importer towards energy self-sufficiency.
Govt mulls selling stake in Axis Bank
Sources state that the Indian government is considering selling part of its stake in the nation's third-biggest private sector lender, Axis Bank.
Nokia Gains gets control of Alcatel-Lucent
Nokia gained the complete control of its French counterpart Alcatel-Lucent following its 15.6-billion ($17 billion) all-share offer.
HMT plant reopens for making last batch of watches
Hindustan Machine Tools ( HMT) is resuming operations at its Haldwani plant, shut since two years, to make its last batch of 5500 watches.
Indian firm sued for pirated software in California
An Indian textile firm in California has been ordered to pay $100,000 by California Attorney General Kamala Harris as penalty for using pirated computer software.
HC approves Max India's demerger
Max India announced that it had got HC of Punjab and Haryana's approval for 'restructuring' and for the company's demerger into 3 distributed entities.
Wipro to acquire Viteos group for $130 mn
Wipro announced that it has signed a definitive agreement to acquire Viteos Group, a BPaaS provider for the Alternative Investment Management Industry for a purchase consideration of $130 million.