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Vijay Mallya: Beleaguered businessman Vijay Mallya, mired in a controversy for leaving India in the middle of a massive loan default probe, on Moday appeared to distance himself from an interview that quoted him as having said that time was not "right" to return to the country. "Shocked to see media statements that I gave an interview to Sunday Guardian without verification. I have not given any statement to anyone," Mallya tweeted tonight on his official Twitter page. He did not elaborate further on the contents of the said interview. (AP)
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Inflation: After scaling a 17-month peak of 5.69% in January and rising for a sixth straight month, retail inflation pleasantly surprised analysts by easing to 5.18% in February, while wholesale price inflation remained in the negative zone for 16 months in a row at -0.91% in February, thanks to a drop in food inflation, showed the official data released on Monday, reports fe Bureau in New Delhi. The latest moderation in inflation bolstered expectations of an at least 25-basis point cut in the benchmark lending rate by the Reserve Bank Of India (RBI) on or before its April 5 monetary policy review meeting. (Reuters)
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Arun Jaitley: Notwithstanding demands by allies and opposition and protest by jewellery traders, Finance Minister Arun Jaitley on Monday ruled out rollback of the one per cent excise on non-silver jewellery, saying the move is aimed to alligning gold with GST which he hopes will happen soon. (PTI)
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Pfizer: The US Treasury Department proposed new tax regulations late on Monday that threw a series of proposed mergers into question, including Pfizer Inc's $160 billion agreement to buy Allergan Plc, causing Allergan shares to fall sharply. Pfizer's deal to buy Dublin-based Allergan, the maker of Botox, aimed to create the world's largest drugmaker and was conceived under U.S. tax rules that allow the company to move its headquarters to Ireland and lower its tax rate. (Reuters)
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Airbus: European defence major Airbus Group on Monday cautioned that 49 per cent FDI limit in defence sector cannot fetch India the industry or the right original equipment manufacturer that it is eying under 'Make in India' initiative. The firm, which is in negotiations with India for several defence projects worth billions of dollars, also made it clear that they would be able to invest in the domestic defence sector only if they get contracts as it takes "two to tango". (Reuters)
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Wipro: Country’s third largest software services firm Wipro on Monday said it has invested an undisclosed sum in US-based Emailage Corporation. “Wipro has made a strategic investment in and signed a partnership with Emailage Corporation, a fast growing risk assessment and fruad prevention company,” Wipro said in a filing to the BSE. (AP)
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4. This major step can reduce mineral rich states' revenue from coal royalty. The states' losses from a royalty reduction could be temporary and these could be more than offset by the higher volume of coal being produced by the state-run miner as demand picks up. (Reuters)
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Bank of Japan: Bank of Japan (BOJ) officials have been scurrying to commercial banks to explain and apologise for its surprise adoption of negative interest rates in January, while Prime Minister Shinzo Abe has distanced himself from a decision that is proving unpopular with the public. (Reuters)
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Mumbai and Thiruvananthapuram have jointly been ranked on top among cities in terms of governance and quality of life that is sustainable in the long term, according to a survey released today. Chandigarh and Jaipur, however, found their place at the bottom of the list of 21 cities covered under the survey which judged the governance performance on parameters like urban planning and design, capacities and resources (municipal finance and staffing, use of IT), and transparency and accountability, among others. (Reuters)
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ING's stake in Kotak declined to 3.9 per cent from previous holding of 6.4 per cent. (Reuters)
‘Best decision of my life’: Man on returning to India after 4 years abroad, says ‘peace of mind is…’
