-
India revokes Vijay Mallya's passport<br>India on Sunday revoked the passport of Vijay Mallya, whose Kingfisher Airlines has been accused of defaulting bank loans of over Rs 9,400 crore, in a step closer to initiating his deportation. "Having considered the reply furnished by Vijay Mallya to the show cause notice, facts got by Enforcement Directorate and non-bailable warrant under the PMLA Act, 2002 issued by special judge, Mumbai, the MEA has revoked the passport of Vijay Mallya," External Affairs spokesperson Vikas Swarup said.</br>
-
Cairn India cuts capex by a third to USD 100 mn for FY17<br>Battered by a slump in oil prices, Cairn India has slashed its capital expenditure for 2016-17 by a third to USD 100 million (around Rs 660 crore). Cairn had originally planned a capex of USD 1.2 billion for 2015-16, but later revised it to USD 500 million as oil prices started to fall. In third quarter, the firm further trimmed it down to USD 300 million. In an investor presentation post announcing FY16 earnings, Cairn said for 2016-17 a capex "of USD 100 million" is planned.(Reuters)</br>
-
PepperTap set to close: Another nail in the coffin for India’s once-hot online grocery business<br> The closing down of Gurgaon-based hyperlocal delivery start-up PepperTap is a signal that the online grocery business, touted to be the hottest segment in the e-commerce space just about a year back, is witnessing a freeze. PepperTap will shut its operations across the country later this month following continued losses and shortage of funds to run its business. The company has been in business for less than two years. However, PepperTap, owned by Nuvo Logistics, will continue to run the reverse logistics service for e-commerce marketplaces in the country.(Reuters)</br>
-
Raghuram Rajan not top-paid man at RBI<br> RBI Governor Raghuram Rajan, currently in the eye of the storm over his 'one-eyed is king among blind' remark, may be the most powerful person at the central bank, but he does not appear to be the top-paid one! As per the latest details published by the Reserve Bank of India (RBI) under the Right To Information Act, Rajan's total 'monthly emoluments' stood at Rs 1,98,700. This included a basic pay of Rs 90,000, Dearness Allowance of Rs 1,01,700 and 'others' of Rs 7,000.(Reuters)</br>
-
US orders 'urgent' engine fix for Boeing 787 Dreamliners<br>US officials have ordered Boeing to fix engines on some of its 787 Dreamliner airplanes to avoid sudden failure in icy conditions, calling the problem an "urgent safety issue."The Federal Aviation Administration directive concerns a potential problem in General Electric engines that could affect more than 150 of the planes worldwide, following a January incident that caused an engine on a 787, Boeing's newest passenger plane, to fail mid-flight.(Reuters)</br>
Schemes to be monitored by Narendra Modi application: Smriti Irani<br> Union HRD Minister Smriti Irani on Sunday said execution of central schemes here will be monitored through the Narendra Modi application by two designated groups which will be directly connected to the PM's office. "Government wants that the benefits of its schemes should reach the common man. For it, implementation of the schemes is necessary and for this help of Narendra Modi application will be taken," Irani said while addressing a gathering in Amethi.(PTI)</br> -
OROP notification: "The indefinite relay fast has been suspended now as we will be taking the legal recourse. Defence Minister Manohar Parrikar had said that proverbial gun was been held to the head of the government by virtue of our presence at Jantar Mantar. (Reuters)
-
Govt may exempt Apple from local sourcing norms<br>Government is likely to exempt iPhone and iPad maker Apple from mandatory local sourcing rule, a move which would pave the way for tech giant opening single-brand retail stores in the country. The company had given a detailed presentation to a committee headed by DIPP Secretary Ramesh Abhishek on April 19, on its products, technology, innovations and camera.The US-based company has sought approval from the government on setting up single-brand retail stores in the country.</br>
-
'Air India focus on higher revenues, not trimming staff costs'<br>Seeking a turnaround in its fortunes, Air India is looking to augment revenues rather than trim staff expenses even as it battles tough market conditions and financial woes. The national carrier, which is surviving on a staggered Rs 30,000 crore bailout package, has around 19,000 employees, including over 1,500 pilots and about 6,000 people on contract. A senior official said the airline is looking at various options to increase revenues and that there are no plans to cut down costs related to staff.(Reuters)</br>
-
Walmart India plans 50 more outlets by 2020<br>Wal-Mart Stores Inc, which runs cash-and-carry stores in the country through its arm, Walmart India, plans to deepen its presence by opening more stores in the existing states where it currently operates. It is targeting to open 50 more stores by 2020, while at the same time be profitable in each of its stores by managing inventory better.(Reuters)</br>
War 2 Box Office Day Collection 3: Hrithik Roshan and Jr NTR-starrer enters Rs 200 crore club worldwide
