Jet Airways plane loses ATC contact over Germany, causes scare

Setting off a major scare about a missing aircraft when it lost contact over German airspace, a Jet Airways flight from Mumbai to London earlier this week had to be escorted by fighter planes part of the way before it landed at its destination, an airlines spokesperson said on Sunday.

"Contact between Jet Airways flight 9W 118, from Mumbai to London Heathrow, of February 16, 2017

Steel exports surge 224% in January

India's steel exports jumped by 224 per cent in January and the country shipped out 5.865 million tonnes of steel in April-January period of the current fiscal -- up by 71.1 per cent over the same period last year, a steel ministry's report said.

"Exports in January 2017 at 889,000 tonnes was up by 224 per cent over January 2016 and was up by 19 per cent over December 201

Havells India to buy Lloyd Electric`s consumer business for $231 million

MUMBAI - Havells India Ltd, a leading maker of lights and fans, has agreed to buy a unit of Lloyd Electric and Engineering Ltd that sells air conditioners and televisions in a 15.5 billion-rupee deal ($231.14 million), the companies said.

The deal, expected to close in eight weeks subject to final due diligence, will help Havells expand its reach into the $15 bil

State Bank of Travancore to raise Rs 600 crore

The State Bank of Travancore said on Saturday it plans to raise up to Rs 600 crore through issue of additional "Tier I bonds" by the way of private placement.

The bank informed the BSE that the executive committee of its board of directors approved the proposal at a meeting held on Saturday.

The State Bank of Travancore is proposed to be merged with the State Bank

Tata Steel looking at Myanmar, Bangladesh B2C markets

Tata Steel is looking at building a distribution network and its brands in the Business to Consumer (B2C) markets in Bangladesh and Myanmar, a company official said on Saturday.

"We have great success in developing brands and distribution network in B2C markets in India. Bangladesh and Myanmar are the two B2C markets which have similar profile as India. We are seeing opportunitie

HAL gets Israeli order for more Boeing cargo doors

State-run Hindustan Aeronautics Ltd (HAL) received a fresh order from the Israeli Aerospace Industries (IAI) to supply eight sets of cargo doors for the main deck of Boeing 737, said an official of the defence behemoth on Saturday.

"The IAI has signed a fresh contract with us to supply eight more sets of the main deck cargo door for Boeing 737 jets," the official told IANS o

BPCL plans to raise Rs 2,000 crore

State-run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) on Friday said that it plans to raise up to Rs 2,000 crore through private placement of secured non-convertible debentures during the current financial year.

The company informed the Bombay Stock Exchange (BSE) that last year its shareholders had approved "private placement of non-convertible bonds/debentures

Nasscom centre at IIM-Bengaluru to groom IT leaders

The National Association of Software Services Companies (Nasscom) on Friday announced setting up of a Leadership Resource Centre at the Indian Institute of Management (IIM-B) in Bengaluru to groom IT leaders.

"The centre at the IIM-B school will hone skills and generate industry ready talent for the IT sector across the country," said the apex body (Nasscom) in a statement o

Coal India's dispatch picks up

With the growing economy, Coal India has noticed its dispatch of coal is picking up and is hoping for brighter future, a company official said on Friday.

"Country's economy is growing. The government's scheme is in place for empowering discoms (power distribution companies). We have noticed coal dispatch has been picking up," the miner's Chairman and managing Dir

Bank of Maharashtra eyes 10% loan growth in 2017-18

Public sector lender Bank of Maharashtra is aiming at a 10 per cent loan growth in the next fiscal, an official said on Friday.

"We are expecting to disburse about Rs 1.08 lakh crore of advances by the end of the current fiscal. We are aiming at least a 10 per cent growth in advances in 2017-18," said R.P. Marathe, the Bank's MD and CEO.

The lender has already

Anand Rathi buys Religare's wealth management arm

Anand Rathi Wealth Management said on Friday it bought Religare Enterprise Ltd's wealth management business for an undisclosed amount.

Following the deal, Anand Rathi's assets under management will rise to 135 billion rupees ($2.01 billion) from 100 billion rupees, the company said in a emailed statement.

($1 = 67.0900 Indian rupees)

(Reporting by Parikshit

Will focus on expanding into banking this year: Paytm

Paytm founder Vijay Shekhar Sharma on Friday said that the company will focus on expanding its operations in banking and build upon its distribution and customer base.

"We want to expand the network across the country and increase the penetration. We want to expand this to deposits and current accounts. I think 2017 will be the year for us to expand into banking. We have to build

Foreign stake in HDFC Bank crosses 74% limit again: RBI

Private sector HDFC Bank has again crossed the foreign investment limit prescribed as a percentage of paid-up capital for Indian companies, the Reserve Bank of India (RBI) said on Friday

Only a day earlier, on Thursday, the RBI announced that such investments had fallen below the ceiling.

The apex bank had said that foreign investors' holdings in HDFC Bank had fallen bel

Essar's Iran oil imports fell 1.5 percent in January from December - trade

NEW DELHI - Essar Oil, a key Indian buyer of Iranian crude, imported 1.5 percent less oil from Tehran in January compared with the previous month, according to tanker arrival data obtained from sources and assessed by Thomson Reuters Oil Analytics.

Essar Oil's overall shipments from Tehran rose 56 percent at about 175,600 barrels per day (bpd) in the first ten mon

Sundaram Finance to demerge non-financial service biz

The Board of Non-Banking Finance Company Sundaram Finance today approved a proposal to demerge its non-financial services investments into a wholly owned subsidiary, Sundaram Finance Investments Ltd (SFIL).

"Following the demerger, Sundaram Finance Investments Ltd., would be listed on the stock exchange, subject to necessary approvals from regulators and shareholders", the c

GE Shipping arm delivers `Greatship Disha` to buyers

Country's largest private sector shipping company Great Eastern Shipping Company Ltd (GE Shipping) on Friday said that its arm Greatship (India) Ltd (GIL) has delivered ‘Greatship Disha’ to the buyers. “Greatship (India) Ltd (GIL), a wholly owned subsidiary of the Great Eastern Shipping Company Ltd, has sold and delivered its 1999 built Platform Supply Vessel (PSV) ‘

Global software analytics market to reach $18.3 bn: Gartner

Global revenue in the business intelligence (BI) and analytics software market is forecast to reach $18.3 billion in 2017 -- an increase of 7.3 per cent from 2016.

By the end of 2020, the market is forecast to grow to $22.8 billion, the market research firm Gartner said on Friday. 

The modern BI and analytics market is expected to decelerate, however, from 63.6 per cent

Over Rs 1 lakh crore worth new Rs 500 notes have been printed

The Finance Ministry on Friday said that over Rs 1 lakh crore worth of the new Rs 500 notes have already been printed with the presses churning out approximately 22 million pieces of it everyday.

"More than Rs 1 lakh crore worth new Rs 500 notes have been printed. 22 million pieces of Rs 500 being printed per day," Security Printing Minting Corporation of India Limited (SPMC

Full start of Reliance petchem will halt heavy exports

NEW DELHI/SINGAPORE  - India's Reliance Industries, owner of the world's biggest refining complex, will halt heavy naphtha exports in 2017/18 after the full-scale start-up of its 2.2 million tonnes per year (tpy) paraxylene plant, four people with knowledge of the matter said.

The plant, located in western Gujarat state, is currently operating at about 80

89% people want automation at workplace: Adobe

In a surprise find, 89 per cent of people, including from India are positive about the role robots can play in helping them at workplace rather than taking away their jobs, a new report has found.

According to the "Future of Work" study by Adobe released on Friday, people are open to man and machine collaboration for work benefits. 

The study was conducted in

Fresh buying lifts equities, key indices touch new closing highs

 Indian equities markets on Friday surged to new five-month closing high with gains of around half a per cent each, as healthy buying was witnessed in banking, healthcare, and oil and gas stocks.

Besides, a strong rupee and substantial inflow of foreign funds buoyed investors' sentiments, although some gains were capped on the back of negative global cues and profit booking.<

NTPC`s Pakri Barwadih coal mine starts production

The state-owned power producer NTPC has started production from Pakri Barwadih coal mine in Jharkhand and the first rake of the dry fuel was flagged off. Finance Minister Arun Jaitley did the honours in the presence of Jharkhand Chief Minister Raghubar Das, Power Minister Piyush Goyal and Minister of State of Civil Aviation Jayant Sinha.

The mine has an estimated mining capacity of 15

ArcelorMittal, SAIL`s India joint venture talks at an impasse - sources

By Neha Dasgupta

NEW DELHI - A proposed joint venture between state-owned Steel Authority of India Ltd and ArcelorMittal SA to build an $897 million automotive steel plant in India has hit an impasse, with the two disagreeing on key terms, officials said.

India's biggest state-owned steel company and the world's No. 1 producer of the m

India`s first business aviation magazine launched

Civl Aviation Minister Ashok Gajapathi Raju has lauded the Airports Authority of India (AAI) for conceptualising India's first business magazine entirely dedicated to the sector.

"Civil aviation is not only one of the fastest growing sectors of the Indian economy but one of the most strategic ones too as it plays a crucial role in improving transport linkages to facilitate fa

HAL to maintain Saab`s electronic warfare system

State-run Hindustan Aeronautics Ltd (HAL) would maintain the electronic warfare self-protection system of Saab for its Dhruv Advanced Light Helicopter (ALH) variants flown by the Indian Air Force (IAF) and Indian Army Aviation Corps, said the Swedish aerospace major here on Friday.

"Our South African subsidiary (Saab Grintek Defence) has signed $8.5 million (Rs 57 crore) contract