Bank of England meets Hindu Council members over beef tallow in 5 pound note

The Bank of England invited members of the Hindu Council UK for a meeting over concerns that the new 5 pound polymer currency note contains traces of beef tallow -- an issue that has led to anger among vegans, Hindus, Sikhs and other communities in Britain.

The Hindu Council UK representatives - Chairman Umesh C. Sharma JP, Director of Interfaith Relations, Anil Bhanot OBE and Directo

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

China to halt coal imports from North Korea

China announced that it will suspend all coal imports from North Korea, a measure taken to comply with sanctions imposed on Pyongyang by the United Nations.

The ban will be in place through December 31, according to a joint statement by China's Ministry of Commerce and General Administration of Customs on Saturday, Efe news reported.

The statement said the decision was m

Mutual Fund industry expects AUM to reach Rs 35 lakh cr in five years

With growing retail participation, low interest rates, digitisation and introduction of new products, the mutual fund industry is expecting to double its assets under management (AUM) to Rs 35 lakh crore over the next five years, industry players said on Saturday.

As of January 31, 2017 the assets under management of the industry stood at Rs 17.37 lakh crore and industry members estim

GST Council has cleared draft compensation law: Jaitley

Finance Minister Arun Jaitley on Saturday said the Goods and Services Tax (GST) Council has cleared the draft compensation law -- one of the four enabling laws under the GST constitutional amendment - and hoped the remaining ones will be cleared in the next meeting ahead of the second half of Parliament's Budget Session.

"The GST's compensation law states that if any stat

PSA chief executive to meet UK's May about Vauxhall takeover

By Laurence Frost and David Milliken

PARIS/LONDON - The chief executive of Peugeot manufacturer PSA Group will meet British Prime Minister Theresa May to discuss his firm's planned acquisition of General Motors' Opel and Vauxhall operations, a government spokesman said on Saturday.

Both Britain and Germany fear PSA will cut jobs if the takeover goes

Iran finds 2 billion barrels shale oil reserves in western province - agency

DUBAI- Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.

"Based on studies, it is estimated that the shale oil reserves in Ghali Koh in Lorestan amount to 2 billion barrels of oil in place,” Bahman So

Competition led to 30% airfare drop in India: Minister

The Union Civil Aviation Ministry's role in ensuring competition between commercial airline companies, along with fall in oil prices globally, led to a drop in air fares by as much as 30 per cent, a minister said on Saturday.

"If we are looking at the country as a whole, then average airfares have actually fallen by 30 per cent," Union Minister for Civil Aviation Ashok G

Trump's corporate tax plan is one bright spot in his otherwise quarrelsome world

It is not all bad in Trump land. Yes, we have those pesky Twitter wars, anti-free trade rhetoric, fights with the Australian Prime Minister and the list goes on. It seems that US politics has entered a dark age.

There are a few bright spots that will change the course of the US economy and our personal lives. One is President Donald Trump's promise to cut corporate taxes to 15 per

18/02/2017 2:46:03 PM | Posted in Special Event Reports read full news
Proceeding at a fast pace towards remonetisation: Urjit Patel

Reserve Bank of India (RBI) Governor Urjit Patel on Friday said the central bank was moving at a fast pace towards remonetisation, having restored normalcy over a short period as the printing of the currency was going on at full capacity from day one of demonetisation.

"I think that in terms of remonetisation, we are proceeding at a pace that is very quick. Therefore we have mana

India played key role in climate action plan: Suresh Prabhu

Railway Minister Suresh Prabhu on Friday described climate change as a major global issue and pointed out that India played a key role in initiating climate action plan as part of solutions.

"Climate Change is a big threat for the mankind, we can tackle through collaborative efforts," Prabhu told reporters after flagging off the Science Express Climate Action Special train h

Indian gold prices flip to discount for first time in 7 weeks

By Rajendra Jadhav and Sethuraman N R

MUMBAI/BENGALURU - Gold started trading at a discount to official prices in India on Friday for the first time in seven weeks, and buyers elsewhere in Asia held back purchases, waiting for rallying bullion prices to ease.

Gold crept higher on Friday as investors opted for its relative safety given uncertainty about

India may soon allow institutions to trade commodity futures - SEBI chief

By Abhirup Roy and Rajendra Jadhav

MUMBAI - India could start allowing institutional investors to trade in its annual $1 trillion commodity futures market as soon as in a month, the head of the country's capital markets regulator said on Friday, as the government targets deepening of the market.

Asia's third biggest economy has allowed futures t

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

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

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.<

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

Cash situation to become normal in March: Nomura

The impact of demonetisation is still visible and cash levels in the economy are not expected to be sufficient until March, which may keep trade volumes depressed for the next two months, says a Nomura report as per the PTI. As per data released by the commerce ministry, growth in exports in January was lower than 5.72 per cent in December.

The moderation in India's exports volume

Normalcy in currency operations restored: Arun Jaitley

Finance Minister Arun Jaitley said normalcy has been restored within few weeks of the unprecedented decision to recall 86 per cent of the currency in circulation and there is no shortage of notes in market, reported PTI.

Currency note printing presses of Reserve Bank of India as well as Security Printing and Minting Corporation of India Ltd (SPMCIL) have worked without a break to remo

Ranganathan, Mehta appointed Non-Official Director in IOB, PNB

T C A Ranganathan and Sunil Mehta were today appointed as Non-Official Directors in Indian Overseas Bank and Punjab National Bank respectively.

The Appointments Committee of Cabinet has cleared their appointment as Non-Official Director/Non-Executive Chairman in the respective banks for a period of three years, an order issued by Personnel Ministry said. Mehta's appointment is sub

Apple to start India manufacturing in coming months with iPhone SE - source

By Sankalp Phartiyal

MUMBAI - Apple Inc will in the coming months start assembling its lower-priced iPhone SE models at a contract manufacturer's plant in the southern Indian technology hub of Bengaluru, an industry source with direct knowledge of the matter said on Friday.

Apple's Taiwanese manufacturing partner Wistron Corp is setting up a pla

India, Norway discuss strengthening bilateral ties in fishery

Agriculture Minister Radha Mohan Singh met his Norwegian counterpart Jon Georg Dale and discussed further strengthening bilateral ties in fishery sector and cooperation in developing climate smart fishing techniques as also trade in marine products.

“Bilateral cooperation in fisheries between India and Norway has grown and there is ample potential for furthering relationship in

Trai begins operator-assisted test for call drops: Reports

Regulator TRAI has said that it has begun operator-assisted drive test that captures real-time data to monitor the level of call drops and voice quality across multiple cities. As per reports, the operator-assisted tests involves the telecom firms' equipment and costs, with the regulator monitoring and supervising the entire process.

Commenting on the issue, TRAI Chairman RS Sharm