Uttar Pradesh cabinet okays proposal to slash CNG prices

The Uttar Pradesh cabinet on Tuesday okayed a proposal to slash the price of CNG by Rs 3.30 per kg.

The proposal got the nod at a cabinet meeting chaired by Chief Minister Yogi Adityanath, said government spokesman Srikant Sharma, adding this had been done to make the CNG price in Uttar Pradesh at par with that in New Delhi.

The cabinet also reinstated executive officer Niha

Kumar Manglam Birla calls on Yogi, discusses investment in Uttar Pradesh

Lucknow - Aditya Birla Group Chairman Kumar Mangalam Birla called on Uttar Pradesh Chief Minister Yogi Adityanath at his official residence on Tuesday and discussed investment opportunities in the state, an official said.

The Chief Minister informed Birla about the various facilities being offered to investors by the state government for setting up business in the sta

Indian IT industry lauds no change in H-1B visa policy

 The Indian IT industry on Tuesday lauded the US administration for not considering any regulatory change in the H-1B visa extension policy.

"It's a good decision. We are relieved that there won't be any change in the H1-B visa extension policy. It is beneficial for us as well as our clients in the US," a software export firm executive told IANS here.

Delhi cabinet approves tender for 1,000 cluster buses

The Delhi cabinet on Tuesday approved a tender for purchase of 1,000 non-AC, standard floor cluster buses to serve the city's outlying areas, Deputy Chief Minister Manish Sisodia.

Addressing media after the meet, Sisodia said that the buses would cater mainly to outer Delhi and rural areas.

The buses are expected to start arriving by August and all buses will be delivere

Discovery signs Netflix for online distribution of new channel

Discovery Communications India today said it has signed up Netflix as the exclusive global over-the-top (OTT) platform partner for contents of its new channel, Discovery JEET that will go on air from February, reported PTI. The company, known for its knowledge and lifestyle channels, will be foraying into the general entertainment channel (GEC) category in India with the launch of Discovery JEE

Renewable power contract renegotiations to affect investor sentiment

The renegotiation of tariffs under renewable power purchase agreements (PPAs) by quoting high tariffs is not an apparent option available with state discoms, says India Ratings and Research (Ind-Ra). Reportedly, state utilities have evinced interest in revisiting signed PPAs to capitalise on falling solar and wind tariffs.

This has affected investor sentiments towards the fledgling re

India mulls 70% safegaurd duty on solar equipment imports

India has proposed to levy a 70 per cent safeguard duty on import of solar power equipment from countries like China for 200 days to protect domestic industry from "serious injury", reported PTI. The Directorate General of Safeguards in a January 5 recommendation to the finance ministry said solar cells are "being imported into India in such increased quantities and under such co

Delhi-NCR to generate 1.50 lakh MT e-waste by 2020: Assocham

Delhi-National Capital Region (NCR) is likely to generate about 1,50,000 metric tonnes (MT) of e-waste per annum by 2020 from the current level of 85,000 metric tonnes, according to industry body Assocham.E-waste is expected to be generated at compounded annual growth rate (CAGR) of about 25 per cent in the Delhi-NCR region, the industry body said.

The chamber attributed factors like

Railways launches `New Online Vendor Registration System`

In-line with the philosophy of the government to make systems and procedures digital and transparent, Research Designs & Standards Organisation (RDSO), the research arm of Ministry of Railways, has launched “New Online Vender Registration System”. “This system was evolved after Minister of Railways & Coal, Piyush Goyal undertook comprehensive review of the functioning

Gold loan market to grow to over Rs 3 lakh cr by 2020: KPMG

The organised gold loan market in India is expected to grow to over Rs 3 lakh crore by 2020 at a three-year Compound Annual Growth Rate (CAGR) of 13.7 per cent, British consulting multinational KPMG said on Tuesday, citing its report based on an industry survey.

The report titled "India's gold loan market: Is the glitter fading?" cites the World Gold Council which estima

Biggest tech show on Earth kicks-off with focus on AI

The largest technology show on Earth took off in this hub of the gaming world on Monday with Artificial Intelligence (AI) taking centre-stage as the wonder kid of tomorrows world, promising to bring in sweeping changes in everyones concept of technology.

The Consumer Electronic Show (CES) 2018 at the Las Vegas Convention Center and other places would showcase products and solutions fr

Not eyeing foreign territories to exploit resources: Narendra Modi

 In an apparent dig at China, Prime Minister Narendra Modi said on Tuesday India was not eyeing foreign territories and exploiting anyone's resources.

"We do not intend to exploit anyone's resources, nor we are eyeing anyone's territory. Our focus has always been on capacity building and resource development," Modi said, addressing the Persons of Indian Orig

NPCI`s first employee Dilip Asbe is now its MD and CEO

In a surprise move, the National Payments Corporation (NPCI) on Monday elevated Dilip Asbe as the new managing director and chief executive. Before the elevation Asbe was the chief operating officer of the RBI-promoted national payment gateway, and was also the acting chief executive after the retirement of its founder-CEO AP Hota last August. According to media reports, Uttam Nayak, a senior v

RBI extends directions to Vaish Co Commercial Bank

The Reserve Bank of India on Monday extended the Directive issued to The Vaish Co-operative Commercial Bank Ltd., New Delhi for a further period of six months from January 9, 2018 to July 8, 2018 subject to review.

The central bank, in exercise of powers vested in it under sub-section (1) of Section 35A read with Section 56 of the Banking Regulation Act, 1949, hereby directs that the

RBI to sell four dated GOI securities for Rs 15,000 cr

The Reserve Bank of India on Monday said that it will conduct an auction to sell four dated Government of India securities for Rs 15,000 crore on January 12, 2018. “Subject to the limit of Rs 15000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to Rs 1000 Cr each against any one or more of the above security,” RBI said in a press relea

Postponing Air India disinvestment to erode its value: CAPA

Aviation think tank CAPA has said that postponing disinvestment of Air India by five years will further erode its value. As per reports, the Parliamentary Standing Committee on Transport, Tourism and Culture in its draft report had said the government should look at alternative to disinvestment as it would not be appropriate to disinvest in the airline at a time when it has shown operational pr

Air India to provide laptops to business class travelers

Air India has said that it is considering providing laptops to its premium travelers in a bid to woo business class passengers on its international flights. As per reports, the move is geared towards improving the airline's passenger load factor or seat occupancy in business class which often sees almost half the seats going empty.

Commenting on the issue, Air India Chairman and M

G-sec investment limit oversubscribed, FPIs bid for Rs 12Kcr

Government bonds attracted bids worth nearly Rs 12,000 crore from foreign investors in today's auction, as against the debt investment limit of Rs 6,666 crore on offer, exchange data showed, reported PTI. The auction for investment limits for such securities has been receiving a good response from foreign portfolio investors (FPIs) in recent past.

The auction was conducted on BSE&

Sebi tells clearing corps to monitor intra-trade losses

Markets regulator Sebi has put in place stricter norms wherein clearing corporations are now required to keep a close tab on losses made by members during intra-day trades, reported PTI. The move follows discussions about the risk arising out of accumulation of crystallised obligations or profit/loss on trade due to intra-day squaring off of positions.

"The intra-day crystallised

Restrictions at IGIA relaxed for two days

The operational restriction at the Indira Gandhi International Airport (IGIA), as part of security requirements for the upcoming Republic Day, have been relaxed for two days, said an official on Monday.

Accordingly, the operational restriction has been reduced to seven days from the earlier nine days.

Airport sources told IANS that landing and takeoff would not be allowed fr

India rejects U.S. solar claim at WTO, explores new defence

By Tom Miles

GENEVA - India hit back on Monday at Washington's latest legal assault on its solar power policies at the World Trade Organization, rejecting a U.S. legal claim and exploring possible new protection of India's own solar industry.

Last month the United States triggered a new round of litigation at the WTO, arguing that India had failed to

AISIA opposes Safeguard Duty on import of solar panels, cells

Strongly opposing the proposed blanket Safeguard Duty on import of solar panels and cells, the All India Solar Industries Association (AISIA) has said the levy will badly impact solar manufacturers operating out of the Special Economic Zones (SEZ) across the country.

The SEZ units are treated on par with foreign manufacturers and any Safeguard Duty will be detrimental to the Indian so

Telangana begins work on IT tower in Karimnagar

 In an attempt to extend information technology sector outside Hyderabad and take it to tier II cities, the Telangana government on Monday began work on the IT tower in Karimnagar, an official statement said.

IT Minister K.T. Rama Rao laid the foundation stone for the tower to be built at a cost of Rs 25 crore, said the statement from the minister's office.

The cons

Aim to improve airline`s efficiencies: Air India CMD

National passenger carrier Air India's new chief Pradeep Singh Kharola on Monday said his priority would be to improve the airline's efficiencies and to keep a tab on cost.

"My mandate is to manage the airline, provide good services, improve efficiencies and keep a tab on cost," Kharola said at the airline's New Delhi-based headquarter Airline House.

Ac

India to consider talks with Sri Lanka, Bangladesh to export sugar

By Mayank Bhardwaj

NEW DELHI - India will consider initiating preliminary talks with neighbouring Sri Lanka and Bangladesh to seek lower import duties for its sugar exports to prevent a glut next season, a top government official said.

In the current 2017/18 season sugar mills in India, the world's biggest consumer of the sweetener, is expected to produce just enough to