Times Of India : Business (66)

Items in 28% GST rate slab needs to be pruned: Adhia

The number of goods in the highest 28 per cent GST slab would be brought down and a committee of officers will calculate the revenue impact before going in for further reduction in tax rates, Revenue Secretary Hasmukh Adhia said today.

Govt now plans to put a price cap on non-essential drugs

Non-essential drugs are those that are outside the price-control regime. About 370 drugs are currently under price control.

Rupee falls by 15 paise to 64.89 against dollar

As Xi ascends, will economic reforms take off?

Xi is expected to signal his future economic policies when he opens a five-yearly Communist Party congress on Wednesday that will renew his tenure as general secretary.

ICICI Lombard Q2 profit rises 19% to Rs 204 crore

Total income also rose to Rs 2,098.05 crore for the quarter, from Rs 1,948.31 crore in the year-ago period, ICICI Lombard General Insurance said in a filing to stock exchanges.

Tough quality norms hit imports of Chinese toys

This has hit supply and pushed up retail prices 8-14 per cent, while wholesale prices have risen about 30 per cent, executives said.

It's raining core sector jobs at IITs

IITs in Mumbai, Guwahati, Roorkee and Kharagpur have seen as much as a 25% increase in pre-placement offers from companies that deal in core engineering sectors, such as manufacturing, infrastructure, petroleum and mining, placement officials said.

Sensex, Nifty retreat from record levels

In the Asian region, Japan's Nikkei rose 0.17 per cent, Shanghai Composite Index up 0.06 Per cent and Hong Kong's Hang Seng gained 0.14 per cent in their early deals.

Philanthropy: Inside Shiv Nadars' world of good

Classic example of corporate philanthropy is how the founder of the HCL group has expanded their philanthropic portfolio to promote art, education and healthcare.

ATMs to dispense new Rs 200 notes only by year-end

Most ATM makers cite non-availability of the notes, as a result of which there has been a lack of interest on the part of banks to get all their machines recalibrated.

Flipkart again beats Amazon in festive season sale

Flipkart and Amazon India accounted for about 80 per cent of this year's overall festive season sales, according to analysts. The final phase of the mega sales events ends on Tuesday.

CEO pay hikes get leaner as slump makes companies sweat

Apart from the disruption related to demonetisation, experts said a combination of factors dented the payout, including the growing effectiveness of, and stricter vigil by, nomination and remuneration committees and stronger linkage of salary with performance.

IndiGo asks DIAL to reverse order on terminal shifting

IndiGo president Aditya Ghosh reiterated the airline's stand in a letter to aviation secretary R N Choubey and Delhi International Airport Pvt Ltd CEO I P Rao. While GoAir will shift fully from T1 to T2 from October 29, SpiceJet has made it clear it will shift its flights to and from the three ...

Markets close on a high as Sensex gains 200 points

Led by Chinese, nearly 600 companies line up $85 billion investments in India

600 cos are planning to invest about $85 bn in India in projects that will create around 7L jobs in 5 yrs. China heads the list with most investment proposals

September wholesale inflation eases to 2.6% on back of low food prices

Festive sales finally bring cheers for retail stores

Mall owners and apparel brands have reported a 15-20 per cent surge in sales over last year in Mumbai, Delhi and elsewhere due to shopping blitz in the weekend before Diwali.

Paytm to hire 10,000 temporary workers for KYC compliance

Paytm, which also has a payments bank, will have 100,000 banking outlets and KYC points, the company said. As reported earlier, industry analysts have pointed out that most e-wallet companies have a small base of KYC-compliant users compared to the overall user base.

Nifty scales fresh peak, Sensex up 200 points as markets get into Diwali mode

BSE Sensex opened with a modest gain of 55 points on 32,488.23 but soon extended the gains. The broader 50-share NSE Nifty followed suit opening 40 points above previous closing mark but kept on gaining to hit the fresh peak.

Near normal rains drive record tractor sales

'Labelling data as politically motivated curbs free debate'

We want to Launch Apple Pay in India, Says SVP Eddy Cue

If you look at the US population today, the vast majority get their television from cable and satellite subscribers, it's gone down a little but it's still a vast majority, said Eddy Cue.

Never spoke about fiscal stimulus: Jaitley

Finance minister Arun Jaitley has said that he never talked about any stimulus package for boosting the economy. The media has spoken about it and you should ask' them on it, Jaitley said when asked whether the government was considering a massive fiscal stimulus package.

Centre working on mechanism to speed up GST refund for exporters: Minister

"We are evolving a mechanism. We are trying to further reduce time for refunds," Minister of State for Commerce & Industry CR Chaudhary told the media in Kolkata on the sidelines of the inaugural session of the 186th AGM of the Calcutta Chamber of Commerce.

Oil payment, other issues with Iran resolved: Arun Jaitley

Arun Jaitley, who is on a week-long visit to the US to attend the annual meeting of the International Monetary Fund and the World Bank, made the remarks after a meeting with his Iranian counterpart Masoud Karbasian.

Oil payment, other issues with Iran resolved: Arun Jaitley

Jaitley, who is on a week-long visit to the US to attend the annual meeting of the International Monetary Fund and the World Bank, made the remarks after a meeting with his Iranian counterpart Masoud Karbasian.

Govt mulling 2-3 tariff-based auctions for wind projects

Buoyed by the success of two tariff-based bidding for wind power projects, government will go ahead with 2-3 more such auctions for around 3 GW capacity, which may stagger to 2018, a senior official said.

Indusind clinches largest MFI deal,takes over Bharat Financial

Ending months of speculation, Indusind Bank and the second largest microlender Bharat Financial Inclusion on Saturday announced largest merger in the MFI space in an all-share deal.

IMF favours three structural reforms in India

The IMF has suggested a three-pronged approach for structural reformation in India that includes addressing the corporate and banking sector weaknesses, continued fiscal consolidation through revenue measure, and improving the efficiency of labour and product markets.

Exporters to get GST refund in bank account filed with customs

Under the GST rules, refund is to be credited in the bank account mentioned in the registration particulars. Besides, exporters have been declaring details of bank account to customs authorities for the purpose of drawback etc.

Human touch important in banking: Arundhati Bhattacharya

Maybe we have not performed as well as we needed to perform, says outgoing SBI chairman.

Kirana stores fastest growth channel for FMCG: Study

Idea, Vodafone may also offer 4G smartphones

Airtel on Wednesday had announced the launch of an entry-level 4G smartphone at an 'effective price' of Rs 1,399 in tie-up with handset maker Karbonn.

Markets continue to rally; Sensex, Nifty firm above key marks

30-share BSE Sensex gained 87.34 points to open on 32,247.74 and the broader 50-share NSE Nifty started trading on 10,123.70, up by 27.30 points. The equity market which has been on a northward move for the last two weeks is expected to be further buoyed by signs of recovery in economy.

BPM industry sees huge opportunity in new digital tech

TCS Q2 net profit rises 8.4% on year to Rs 6,446 crore

Bharti Airtel to acquire Tata Teleservices

The country's top telecommunication carrier Bharti Airtel will acquire the consumer mobile business of Tata Teleservices and Tata Teleservices Ltd, the companies said on Thursday.

Working on plan to rebuild capacity of banking sector: Arun Jaitley

Jaitley, who is on a week-long visit to the US to attend the annual meetings of the International Monetary Fund and the World Bank, also said that reforming the banking system is the top agenda of the government.

Sensex gains above 300 points, markets soar ahead of inflation numbers

The markets opened on a positive footing, after plunging almost 100 points. However, since mid-day trading the indices erased the losses and surged in the last hour to finish on a high note ahead of inflation numbers, which are slated to come later in the day.

Indian startups are not disruptive enough compared to global companies: Ratan Tata

Ratan Tata believes the reason behind domestic startups are lagging is not so much talent crunch as is the lack of an encouraging ecosystem in the country.

September inflation may hit six- month high on GST and public sector pay rise

A recent hike in house rent allowances for government employees, coupled with staggered price hikes by firms adjusting to the Goods and Services Tax , contributed to price rises, said Sonal Varma, chief India economist at Nomura.

Reduced GST on yarn to help textile sector: Exporter body

IMF sounds alert over debt in largest economies

Introducing the IMF's newest assessment of risk in the world's financial system, it was noted that the extremely low interest rates of the past several years have allowed countries to borrow easily to finance their rebound from recessions.

E-wallets get bigger platform, stiff norms

The Reserve Bank of India has allowed KYC-compliant wallet accounts to send money to other wallets and bank accounts using the Unified Payment Interface — an account-to-account remittance platform.

Sensex, Nifty open volatile ahead of inflation numbers

BSE sensex gained 54.48 points to open on 31,887.47 while the broader 50-share NSE Nifty started trading on 10,011.20, up by 26.40 points. Analysts opine that the volatility in the market is in anticipation of the inflation numbers which are slated to be announced later in the day.

Import of oil-drilling rigs kept out of GST purview

Nearly all deep sea drilling rigs are imported, and a bulk of the ones used in shallow waters to drill wells to probe and produce oil and gas are also of foreign origin.

Bharti Airtel ties up with Karbonn to launch cheaper 4G smartphone

Cabinet nod to major skill development schemes

Giving a major push to the Skill India initiative, the Cabinet on Wednesday approved two schemes envisaging an investment of Rs 6,655 crore and gave nod to a proposal to send 3 lakh youth to Japan for on-job training.

US businesses betting big on new envoy to India

With Kenneth Juster being named as the new US Ambassador to India, US businesses are expecting that bilateral commercial ties will grow with him in that position, according to a senior office-bearer of a US-India business body.

Online sales may surpass Rs 30,000 crore in festive month: ASSOCHAM