London: Absconding diamantaire Nirav Modi who is at the centre of a money laundering case linked to over USD 2 billion Punjab National Bank fraud has fled to the UK where he is claiming political asylum, according to a media report today. Nirav Modi and his uncle Mehul Choksi are being investigated by the Enforcement […]
Business
Vodafone to Invest Rs 8,000 Crore in India; Monetise Indus Stake for Additional Fund
London: British telecom major Vodafone plans to invest 1 billion euro or about Rs 8,000 crore in the proposed joint venture with Idea Cellular which is expected to be in place this month, according to its annual report. The British telecom operator will look at monetising its stake in Indus Towers if it requires to […]
Walmart expects to close Flipkart deal by the end of 2018
Hyderabad: Walmart, the US retail giant which signed an agreement in May this year to acquire 77 percent stake in Flipkart, expects to close the deal before the end of current calendar year. According to a regulatory filing with Securities and Exchange Commission (SEC), Walmart said the ongoing operations of Flipkart are expected to impact […]
Government eying merger of four Public Sector Banks amidst rising bad loans
New Delhi: Amidst Rising bad loans, the government is eying merger of four Public Sector Banks (PSBs) viz Bank of Baroda, IDBI Bank Ltd, Oriental Bank of Commerce and Central Bank of India, as per media reports. These PSBs reportedly have a cumulative loss of Rs 21,646.38 crore for the financial year 2017-18, a Mint […]
Inform I-T Dept About Black Money or Benami Deals and Cash-In up to Rs 5 Crore
New Delhi Sharing “specific information” with the income tax department about any Benami transaction or property could earn you up to Rs one crore, while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore. Besides, the ‘Income Tax Informants Reward Scheme’ has also been amended under which a person […]
RuPay, BHIM and UPI launched in Singapore, Modi says it represent Digital India initiative
NEW DELHI: Prime Minister Narendra Modi on Friday said that the international launch of RuPay, BHIM and UPI based remittance app in Singapore represented Digital India initiative and the renewed partnership between the two sides. Speaking on the matter, PM Modi’s Singaporean counterpart Lee Hsien Loong said Indian tourists will be able to use their […]
Gold Prices Struggle to Advance Despite Dollar Slump as Bond Yields Rally
Gold prices continued to oscillate around the $1,300 level as surging U.S. bond yields limited gains from a plunge in the dollar. Gold futures for June delivery on the Comex division of the New York Mercantile Exchange rose by $2.30 or 0.18%, to $1,301.30 a troy ounce. Gold prices traded in a narrow range on Wednesday […]
Petrol and diesel prices reduced by 1 paisa, clarifies IOC
New Delhi: Indian Oil Corporation (IOC) on Wednesday corrected earlier figures of reduction in both petrol and diesel prices. Earlier in the morning IOC in its website said that petrol prices went down by 60 paise in Delhi and 59 paise in Mumbai. Similarly Diesel prices went down by 56 paise in Delhi and 59 […]