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Fresh debt: GDP growth slows to 25-quarter low of 5 pct in Q1 FY20

Growth of gross value added (GVA) in manufacturing also nosedived to 0.6% in Q1FY20, compared with a rather strong 12.1% in the year-ago quarter and 3.1% in Q4FY19.

GDP growth, GVA, Narendra Modi government, Indian economy, PSE investments, RBI, RBI monetary policy, Moody's News

DHFL Resolution: Board paves way for ownership change, debt to convert to equity

In a statement, the company said, “Conversion of the whole or part of the debt into equity shares or other securities of the company in accordance with the applicable law with the price of such conv

DHFL Resolution, Resolution Plan, cumulative preference shares, working capital, equity shares, DHFL News

Tesla solar panels catch fire, and the lawsuits start flying

The two homes had something in common: SolarCity, now a unit of Elon Musk's Tesla, had installed their rooftop panels.

Tesla solar panels, Tesla solar panels FIRE, SolarCity, Elon Musk, Tesla, Walmart, Amazon, Tesla solar unit, Solar Energy International, JMP Securities News

Roadblock: Why NHAI construction could slow down sharply in 2 years

Analysts have expressed concerns on the authority’s ability to raise resources at a time when concessionaires want to fund as little of the construction cost as possible.

NHAI, NHAI NHAI construction, CAG, HAM route, BOT projects, Bharatmala project, Brijeshwar Singh, NHAI rules News

IKEA India plans to offer lower prices, source more

The easier norms for local sourcing by global single-brand retailers Peter Betzel, CEO, IKEA India, tells Asmita Dey could see it sourcing much more than merely textiles. IKea is aiming to reach 100 m

 IKEA, Peter Betzel, IKEA India CEO, single brand retailers, FDI, IKEA online stores, IKEA Hyderabad News

Bye-Bye Amazon, Flipkart: Now customers can buy Apple from company’s online stores

US tech giant will open own web stores within 3-4 months; physical stores to take 18-24 months

Amazon, Flipkart, Apple online store, Apple sales in India, apple physical store in india, Apple retail store, single brand retail News

Gautam Thapar sacked as CG Power chairman

Gautam Thapar, who holds negligible stake in the company, denies wrongdoing charges

Gautam Thapar, Gautam Thapar sacked, CG Power chairman, CG Power and Industrial Solutions, Avantha Group News

Hope for Jet Airways: Synergy group looks to invest up to Rs 3,000 cr in airline

German Efromovich, the owner of the Synergy Group, will meet the State Bank of India within the next two weeks to present a business plan.

Synergy Group, Columbian Avianca Airlines, Antonio Guizzetti, Jet Airways, Synergy Aerospace, State Bank of India News

WhatsApp seeks RBI approval for payments service

Sources said WhatsApp has agreed to the data localisation norms set by the RBI for payments-related data, and at present, an audit is being conducted for that. When contacted, a WhatsApp spokesperson

WhatsApp, RBI, WhatsApp payments service,  Reserve Bank of India, BHIM UPI, WhatsApp Payments, Paytm, PhonePe News

Boosting consumption: Modi govt could front-load spending, says FM Nirmala Sitharaman

She said India remained the fastest growing economy despite the recent sluggishness, which was being addressed through measures based on feedback from the industry. 

Nirmala Sitharaman, Guwahati, infrastructure spending, auto industry, non-banking financial companies, Budget expenditure News

The time a jet-lagged Elon Musk made Alibaba’s Jack Ma sound grounded

Musk, alternating between tech visionary and larger-than-life Bond villain, argued that AI will soon surpass the human race; that civilisation may end and hence humankind needed to explore the cosmos

Elon Musk, Alibaba, Jack Ma, Tesla, Alibaba Group Holding, World AI Conference, SpaceX, Tencent Holdings News

Apple, IKEA, H&M may bolster their presence in India as Centre relaxes FDI rule in single-brand retail

Seeking to create a manufacturing eco-system at a time when several foreign companies are looking to shift out of China to beat an escalating global trade war, the Cabinet Committee on Economic Affair

Apple, IKEA, H&M, FDI in retail, FDI rule in single brand retail, piyush goyal, FDI in contract manufacturing, Foxconn, Prakash Javadekar, FDI norms News

Now to see how long auctioning coal mines for FDI firms takes

Last year’s move virtually upended the Coal Mines (Nationalisation) Act, 1973, which has kept the sector largely a preserve of public-sector monolith Coal India (CIL) for long.

coal mines, coal mines auction, FDI firms, FDI in coal mines, BHP Billiton, Rio Tinto, Glencore, Coal India, power purchase agreements News

Balancing act: Direct tax Code to bring no relief to stock markets

Currently, LTCG tax on equities and equity-oriented mutual fund is levied at 10% on the proceeds in excess of Rs 1 lakh, if the sale is executed with 12 months of purchase.

life insurance agents, commission,renewal commission, income tax return last date, income tax return 2019-20 last date, income tax deductions, Filing of ITR, due date for filing of ITR, Form 26AS, News

Fundraising: IRFC, ONGC explore dollar bond market to raise $1 billion

The IRFC issue is likely to be a “144A/Reg S” one so that US investors can participate along with investors from other regions, the persons said.

IRFC, ONGC, dollar bond market, US Treasury yield, Bond investors, dollar bond News

Fox News advertisers get direct line to viewer-in-chief Donald Trump

Fox’s political-ad spending reports filed at the Federal Communications Commission show robust spending on programs that figure in Trump’s viewing.

Fox News advertisers, viewer in chief, Donald Trump, US airlines, Qatar, Fox & Friends,  Washington, TV ads on fox news

Local cheer: Stock markets surge for third straight session

On Monday, they offloaded shares worth $97 million while on Tuesday, they sold stocks worth nearly $ 130 million, provisional data on the exchanges showed.

Markets News

Andhra Pradesh’s dues to state discoms pile up, hit Rs 2,100 crore

The FY19 losses of Andhra Pradesh discoms were Rs 1,563 crore which the newly elected state government has attributed to “high cost renewable energy purchases”.

Economy News

Lacking lustre: Gold prices soar but ETFs not so popular

On Monday, the price of gold hit a new high at Rs 38,578. Surprisingly, gold ETFs have seen outflows every year since 2013-14, Amfi data show. 

Markets News

Income tax department performing random raids despite having data storehouse

In the last five years, the undisclosed income admitted as a result of search-and-seizure operations remained below 2% of the total direct tax collections (see chart).

Economy News

Beleaguered DHFL may convert loans into equity to stay afloat

The plan further proposes the remaining Rs 15,200 crore of unsustainable debt could be converted into 10-year non-convertible debentures with a coupon rate of 6% and allocated to its lenders.

Industry News

On the same page: No dissent in final Bimal Jalan report on RBI transfer

A source said Garg’s dissenting views were not, however, completely withdrawn and they were accommodated in various chapters of the report.

Economy News

Nirmala Sitharaman slams Congress’ ‘stealing’ charges, asks not to question RBI credibility

Though this is a timely bonanza for the government, the ECF review has turned out to be potentially mush less rewarding for it than many analysts thought and some of the government managers clamoured

Economy News

Indigo promoters Rahul Bhatia, Rakesh Gangwal may call truce soon

Meanwhile, the company’s CEO, Ronojoy Dutta, told the shareholders categorically that all related-party transactions (RPTs) have been executed at an arm’s length and amounted to less than 1% of th

Industry News

Reliance Jio first day first show: Movie production and viewing may get a new dimension

PWC’s Basu reckons producers might well prefer a theatrical release for a big budget film. Or for films made for screen audiences.

Industry News

Trade jitters: Gold prices hit six-year high

Meanwhile, in the domestic market, gold ended at Rs 39,670 per 10 gram, the new all-time high.

Commodities News

Crackdown: Government retires 22 tax officials on charges of corruption

Two other Bhopal zone officials have also been retired, where one of them is accused by CBI of soliciting bribes while the other has been found involved in an illegal import racket by the Central exci

India News
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