Business

Oil slides as OPEC ties supply cut to Russia; Moscow said to only back limited move

  Oil prices fell on Friday, pulled down by OPEC’s move to delay a final decision on output cuts as its awaits support from heavyweight supplier Russia, which is reported to not want to reduce its output by more than 150,000 barrels per day (bpd). International Brent crude oil futures fell below $60 per barrel […]

Business

Nissan to recall 150,000 more vehicles in Japan after improper inspections

Nissan to recall 150,000 more vehicles in Japan after improper inspections “Nissan has newly found several non-conformities that may have caused inaccurate pass/fail judgments,” the carmaker said in a press release. The latest “non-conformities” involved inspections of brakes, steer wheels, speed measurements and vehicle stability, the company said. Nissan has already revealed several other cases […]

Business

Retail, SME loans to be linked to repo rate or T-bills

The Reserve Bank of India (RBI) has decided that all new floating rate personal or retail loans (including housing, auto, etc) and floating rate loans to small and micro enterprises (SMEs) extended by banks from April 1, 2019 will be benchmarked to the RBI’s policy repo rate or 91/182 days Treasury Bill yield. The RBI […]

Business

Oil prices ease in cautious trading ahead of OPEC meeting

Oil prices dipped on Thursday in tepid trading ahead of a meeting by producer group OPEC that is expected to result in a supply cut aimed at draining a glut that has pulled down crude prices by 30 per cent since October. US West Texas Intermediate (WTI) crude futures were at $52.57 per barrel at […]

Business

Fitch projects rupee to weaken to 75 against dollar by 2019 end

Fitch Ratings Thursday projected rupee to fall to 75 to a dollar by end of 2019, on widening of current account deficit and tighter global financing. The Indian rupee is currently trading at a two-week low level, hovering around 71 to a US dollar. In its Global Economic Outlook, Fitch said it expects inflation to […]

Business

Global sell-off: Markets shiver as US-China trade war intensifies

Sensex on Thursday plunged 1.59 per cent as a global sell-off triggered by the arrest of a top executive of Chinese telecom major Huawei in Canada hit the sentiment ahead of a crucial OPEC oil meet. Besides, rising anxiety among the participants ahead of assembly elections results and weakening of the rupee further dampened the mood. The […]

Business

IndiGo first Indian carrier to have 200 aircrafts in its fleet: Airline

Budget carrier IndiGo has said that it has become the first domestic airline to have 200 aircraft in its fleet. Four new aircraft have joined the fleet, including two Airbus A320 ceo (VT-IKA and VT-IKB) and two A320 neo (VT IZK AND VT-IZI), taking the fleet count to 200 and number of deliveries to 226, […]

Business

CCEA approves agriculture export policy: No curbs on shipment of processed, organic items

The Cabinet Committee on Economic Affairs (CCEA) on Thursday approved an agriculture export policy that proposes to keep the outbound shipment of processed and organic items free of any restriction. However, it stopped short of advocating a complete removal of restrictions for all the time on exports of major items – including rice, wheat, cotton […]

Business

‘Air India’s October 20 Hong Kong flight descended rapidly’

An Air India flight that was about to land at Hong Kong on October 20 this year was seconds away from disaster after the aircraft “descended rapidly and deviated significantly” from the normal glide path, a preliminary report into the incident by the Hong Kong Transport and Housing Bureau has revealed. Both pilots of the […]

Business

No decision by RBI panel on relaxation of PCA

Despite pressure from the government to take a softer stance towards PSU banks under the prompt corrective action (PCA) framework, the Board for Financial Supervision (BFS) of the Reserve Bank of India (RBI) did not discuss easing lending curbs facing 11 state-run banks. BFS, headed by RBI Governor Urjit Patel, only discussed the banks’ September […]

Business

Rupee rises 46 paise to 70.44 against US dollar in early trade

The rupee appreciated by 46 paise to 70.44 against the US dollar in early trade Friday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and a higher opening of domestic equities. Forex traders said, increased selling of the American currency by exporters and banks and sustained foreign fund inflows […]

Business

US probe of China’s Huawei includes bank fraud accusations

Chinese telecoms giant Huawei Technologies Co Ltd’s chief financial officer was arrested as part of a US investigation into an alleged scheme to use the global banking system to evade US sanctions against Iran, according to people familiar with the probe. The United States has been looking since at least 2016 into whether Huawei shipped US-origin products […]

Abhishek Verma and his Romanian born wife Anca Verma outside the Forensic Science Lab, New Delhi
Business Latest Bulletin Politics

Billionaire Abhishek Verma’s Polygraphy test in 1984 Anti Sikh Riots case as the prime witness is to be conducted on 6th December 2018

Due to Blood Pressure that shot up while conducting polygraph test, medical experts of FSL shifted the test day ahead on 6th December 2018. Abhishek Verma’s polygraphy test is now due for the 6th December at 2pm. Earlier, this test was scheduled for today but the same had to be postponed due to high BP […]

Business

Oil weighed down by record Saudi output; markets eye G20, OPEC meetings

Record Saudi oil production pulled down crude prices on Tuesday amid cautious trading ahead of the G20 gathering that starts in Argentina on Friday and next week’s OPEC meeting in Austria. International Brent crude oil futures briefly dipped below $60 per barrel before edging back to $60.10 per barrel at 0147 GMT, still down 38 […]

Business

General Motors to slash 14,700 jobs in North America

General Motors will lay off 14,700 factory and white-collar workers in North America and put five plants up for possible closure as it restructures to cut costs and focus more on autonomous and electric vehicles. The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off. Most […]

Business

Sensex, Nifty turn choppy as IT, pharma stocks fall; Rupee rises 39 paise to 70.30 against US dollar in early trade

The BSE benchmark Sensex pared early gains and turned choppy after opening over 200 points higher Monday, led by fall in IT and pharma stocks amid strengthening rupee. The 30-share Sensex pared early gains and was trading 4.38 points, or 0.01 per cent, higher at 34,985.40. The NSE Nifty too witnessed similar movement, and was […]

Business

Mitsubishi Motors ousts Carlos Ghosn as chairman, follows Nissan’s footsteps

Mitsubishi Motors Corp said on Monday its board removed Carlos Ghosn from his role as chairman, following his arrest and ouster from alliance partner Nissan Motor Co last week for alleged financial misconduct. Ghosn’s ouster marks the end of his chairmanship of Japanese automakers, just two years after he was praised for bringing a steadying hand […]

Business

Cyber Monday set to become biggest US online shopping day

Cyber Monday was on track to bring in a record $7.8 billion in US online sales, but will also test the limits of retailers’ e-commerce operations as millions of shoppers scour for steep discounts on everything from Lego sets to big-screen TVs. Retailers such as Target Corp are offering deliveries with no minimum order limits, […]

Business

Banks under PCA: Out of 11 lenders, four report improvement in profits

Even as the government is pushing the Reserve Bank of India to relax prompt corrective action (PCA) norms for weak banks and allow some of them to restart lending, a look into their key financial metrics over the last one year does not paint an optimistic picture. While none of the 11 banks have shown […]

Business

Telcos have stopped Aadhaar authentications as of November 20: UIDAI CEO

Two months after the Supreme Court ruling, Ajay Bhushan Pandey, CEO, Unique Identification Authority of India spoke to Karishma Mehrotra and Krishn Kaushik about the path to full compliance and the issues that remain unclear. He said that all telecom operators have stopped Aadhaar authentications as of November 20, and that UIDAI has put on hold the […]