Huawei Technologies to invest $170 million in India.
Struggling Super Aguri confirmed Japan's Takuma Sato and Britain's Anthony Davidson as their 2008 drivers on Tuesday after agreeing to a takeover of the Formula One team. Super Aguri, who finished ninth overall last season, arrive in Melbourne with minimal pre-season mileage under their belts after taking part in just one full test since December while focusing on securing their financial future.
The government has cut windfall gains tax on domestically-produced crude oil to nil while continuing the rate at zero on the export of diesel and ATF. The government has slashed the special additional excise duty (SAED) on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) to nil from Rs 4,100 per tonne with effect from Tuesday, an official order dated May 15 said. This is the second time that the levy, which was introduced in July last year in the form of a cess to tax supernormal gains of oil producers and fuel exporters, has been cut to nil for domestically-produced oil.
Unconscious children being carried by parents in their arms, people laying on roads, health workers scrambling to attend to those affected by the styrene vapour leak and residents fleeing were some of the scenes that played out near Visakhapatnam on Thursday, bringing back grim memories of the 1984 Bhopal gas tragedy.
China has made the world's first electric passenger aircraft that could be used in pilot training, tourism, meteorology and rescue operations.
Around 23 minutes after lift-off, the primary satellite got separated and it was followed by six other co-passenger satellites, which were deployed into the intended orbits sequentially, ISRO said.
The government will sell its remaining 26 per cent stake in IBP Co Ltd through a public offer this fiscal besides offloading 10 per cent equity in Oil and Natural Gas Corporation and Gail (India) Ltd to raise Rs 15,000 crore.
Nano, the wheels that millions of Indians have been waiting to drive, on Monday hit the roads and waved goodbye to Tata Motors' enduring image as a truckmaker.
Nokia on Tuesday issued a warning over its mobile BL-5C batteries manufactured by Matsushita Battery Industrial Co Ltd of Japan between December 2005 and November 2006, saying that the batteries may overheat while charging.
The insolvency process of debt-ridden Reliance Capital Ltd (RCL) on Tuesday hit a roadblock as the NCLT Mumbai has stayed the resolution process on the plea of Torrent Group. The stay order was issued by the National Company Law Tribunal (NCLT) as the Ahmedabad-based Torrent Group challenged the revised bid from Hinduja Group, sources said. Torrent Group, which emerged as the highest bidder with an Rs 8,640 crore offer, had moved the NCLT-Mumbai against Hinduja Group's late revised bid, which it had submitted after the completion of the e-auction process on December 21.
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs 6,400 per tonne with effect from Wednesday, the order dated April 18 said. At the last revision on April 4, windfall tax on domestically produced crude oil was cut to nil as international oil prices dipped below $75 per barrel.
Housing Development Finance Corporation Ltd said on Tuesday it will acquire US-based Chubb Global Financial Services Corporation's 26 per cent stake in their joint insurance venture.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Authorities have blamed local tribesmen for carrying out similarly bombing gas pipelines and railroads, as well as rocket attacks targeting security forces.
"We will raise Rs 300 crore via bonds of two-, three- and five-year tenures. This will be our maiden bond issuance and is part of our effort to widen funding sources," says Vimal Bhandari, executive vice-chairman and chief executive officer (CEO), Arka Fincap. The firm, a subsidiary of Kirloskar Oil, is only five years old and small (assets of around Rs 5,000 crore with an "AA" rating), but the response to this float will be closely watched: It would be the first by a non-banking finance company (NBFC) after Mint Road upped the risk weights on bank exposures to them by 25 percentage points. The move by the Reserve Bank of India (RBI) has caught NBFCs off guard even though the issue had been flagged by Governor Shaktikanta Das with their corner-room occupants (and that of banks) in July and August 2023 - on consumer credit and the dependency on bank borrowings.
The Wall Street crash brought down markets across the globe, with Hong Kong stocks falling almost 2 percent on Friday, on investors' fear that the bad US credit situation could blow into a full scale financial crisis.
Sebi on Tuesday restrained two Brightcom Group officials, M Suresh Kumar Reddy and Narayan Raju, from holding any managerial position in the company or its subsidiaries until further orders. Reddy is the promoter-cum-chairman and MD of Brightcom Group Ltd (BGL) while Raju is the chief financial officer. Besides, the regulator also banned Reddy from the securities market until further orders.
The trade between India and Saudi Arabia is growing rapidly with the bilateral trade crossing USD 9.87 billion last year.
In recognition of his contribution to Indian industry, he had been honoured with the Padma Bhushan in 2002.
ZyCoV-D is a three-dose vaccine administered intradermally.
The Nagpur bench of the Bombay high court has quashed the decision of Maharashtra Chief Minister Eknath Shinde to stay the recruitment process of a co-operative bank, noting that the CM has no powers to review or modify the calls taken by the minister concerned.
A netizen surnamed Zhou was arrested by police for "spreading rumours online stating that the poor quality of military vehicles supplied by the Dongfeng Off-road Vehicle Co, Ltd has caused the death of Chinese soldiers during the China-India border clash," a report in Chinamil.com, which is attached to the Chinese ministry of defence, said.
Classmates in Chennai turn back the clock to their time with Indra Nooyi.
A naturally reclusive nature and a conviction for the work to do the talking meant there was very little known about Mistry even during his time at the helm of Tata Sons. He did not do a single media interview from Bombay House.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
China, the world's largest coal producer, has witnessed a series of major coal mine accidents this year as the nation faced an acute power shortage.
In a major technological breakthrough, oil retailer IBP Co Ltd has developed cryogenic trucks for transporting liquefied natural gas that eliminates need for conventional gas pipelines.
'Kindly advise about the following stocks. Can I hold or exit?'
Foreign share holding limit in Maruti Suzuki India has reached trigger limit and any further investment by FIIs will be allowed only after RBI's approval.
Low-cost carrier SpiceJet said on Monday it had signed a $1.1 billion deal for sale and lease back agreement, covering 16 brand-new Boeing aircraft.
The Chennai-headquartered Calsoft would acquire the majority stake in $7 million turnover IDC through its fully owned US subsidiary CSWL Inc, top officials of Calsoft and IDC told a news conference in Chennai.
Soft drinks and foods major Pepsico India Holdings Pvt Ltd has applied to the Foreign Investment Promotion Board to invest an additional $200 million (around Rs 950 crore) as equity in its Indian operations.
