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    Sensex jumps 192 points on strong Q3 earnings

    Sensex jumps 192 points on strong Q3 earnings


    Sensex went past the 36,700-mark to scale a high of 36,701.03 (intra-day) on the back of widespread gains. Finally, the 30-share index settled at 36,578.96, up 192.35 points, or 0.53 per cent. It touched a low of 36,351.77. The gauge had risen 533.05...

    Sensex went past the 36,700-mark to scale a high of 36,701.03 (intra-day) on the back of widespread gains. Finally, the 30-share index settled at 36,578.96, up 192.35 points, or 0.53 per cent. It touched a low of 36,351.77. The gauge had risen 533.05 points in the previous four sessions.
    Nepal's central bank bans Indian notes above Rs 100

    Nepal's central bank bans Indian notes above Rs 100


    Nepal Rastra Bank on Sunday issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than Rs 100, the Kathmandu Post reported. The bank said in its circular letter...

    Nepal Rastra Bank on Sunday issued a circular prohibiting Nepali travellers, banks and financial institutions from holding or carrying and trading Indian bank notes higher than Rs 100, the Kathmandu Post reported. The bank said in its circular letter that Indian currency of Rs 200, Rs 500 and Rs 2,000 denominations cannot be carried and used for trading.
    Arun Jaitley to be back to present Budget on February 1

    Arun Jaitley to be back to present Budget on February 1


    Finance minister Arun Jaitley, who is in the US for a medical check up, will return home on Friday, well ahead of the Budget presentation on February 1, official sources said. Jaitley, 66, left for the US on January 13 for what was believed to be a...

    Finance minister Arun Jaitley, who is in the US for a medical check up, will return home on Friday, well ahead of the Budget presentation on February 1, official sources said. Jaitley, 66, left for the US on January 13 for what was believed to be a medical check-up relating to his kidney ailment. He had undergone a renal transplant surgery in May 2018.
    Govt said to mull Rs 70,000 crore spending to pay cash to farmers

    Govt said to mull Rs 70,000 crore spending to pay cash to farmers


    Prime Minister Narendra Modi’s government is planning to combine all farm subsidies, including fertilizer costs, and instead pay farmers cash, the people said, asking not to be identified as the discussions aren’t public. The additional cost will be...

    Prime Minister Narendra Modi’s government is planning to combine all farm subsidies, including fertilizer costs, and instead pay farmers cash, the people said, asking not to be identified as the discussions aren’t public. The additional cost will be limited to Rs 70,000 crore annually after a full roll-out of the program, the people said.
    Printing of Budget docs begins with 'Halwa' ceremony

    Printing of Budget docs begins with 'Halwa' ceremony


    Finance minister Arun Jaitley, however, missed the customary pre-Budget event as he is currently in the US for a medical check-up. The NDA government on February 1, would unveil the interim Budget for 2019-20 as the general elections are due in the next...

    Finance minister Arun Jaitley, however, missed the customary pre-Budget event as he is currently in the US for a medical check-up. The NDA government on February 1, would unveil the interim Budget for 2019-20 as the general elections are due in the next couple of months. The final Budget for the next fiscal would be presented by the new government.
    Mehul Choksi surrenders his Indian passport

    Mehul Choksi surrenders his Indian passport


    Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated Punjab National Bank (PNB) of about Rs 14,000 crore through issuance of fraudulent letters of undertaking. A Mumbai branch of PNB had fraudulently issued LoUs...

    Choksi and his nephew Nirav Modi, in connivance with certain bank officials, allegedly cheated Punjab National Bank (PNB) of about Rs 14,000 crore through issuance of fraudulent letters of undertaking. A Mumbai branch of PNB had fraudulently issued LoUs for the group of companies belonging to Nirav Modi since March 2011.
    LIC completes acquisition of 51% stake in IDBI Bank

    LIC completes acquisition of 51% stake in IDBI Bank


    "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a...

    "The deal, conceptualised in June 2018, is envisaged as a win-win situation for both IDBI Bank and LIC with an opportunity to create enormous value for shareholders, customers & employees of both entities through mutual synergies," IDBI Bank said in a BSE filing. The bank had reported a net loss of Rs 3,602.49 crore during the September quarter of 2018-19.
    'India's richest 1% get richer by 39% in 2018'

    'India's richest 1% get richer by 39% in 2018'


    13.6 crore Indians, who make up the poorest 10 per cent of the country, continued to remain in debt since 2004. "If this obscene inequality between the top 1 per cent and the rest of India continues then it will lead to a complete collapse of the social...

    13.6 crore Indians, who make up the poorest 10 per cent of the country, continued to remain in debt since 2004. "If this obscene inequality between the top 1 per cent and the rest of India continues then it will lead to a complete collapse of the social and democratic structure of this country," Oxfam international director said.
    China's eco cools in Q4, 2018 growth hits 28-year low

    China's eco cools in Q4, 2018 growth hits 28-year low


    China's economic growth cooled slightly in the fourth quarter from a year earlier as expected, weighed down by weak investment and faltering consumer confidence as Washington piled on trade pressure, leaving 2018 growth the weakest in 28 years. Signs of...

    China's economic growth cooled slightly in the fourth quarter from a year earlier as expected, weighed down by weak investment and faltering consumer confidence as Washington piled on trade pressure, leaving 2018 growth the weakest in 28 years. Signs of further cooling in China are stoking worries about risks to the world economy.
    Mindtree gets battle-ready as Siddhartha finalises his exit

    Mindtree gets battle-ready as Siddhartha finalises his exit


    Siddhartha, the largest shareholder of Mindtree, decided to cash out after monthslong wait to carry the founders along as part of a broader M&A deal. The four founders-—Subroto Bagchi, N S Parthasarathy, Krishnakumar Natarajan and CEO Rostow Ravanan,...

    Siddhartha, the largest shareholder of Mindtree, decided to cash out after monthslong wait to carry the founders along as part of a broader M&A deal. The four founders-—Subroto Bagchi, N S Parthasarathy, Krishnakumar Natarajan and CEO Rostow Ravanan, who together own around 13%—have rebuffed plans to sell or merge Mindtree to buyout funds or rival IT companies.
    I-T dept chases tax payers to recover Rs 5,000 cr

    I-T dept chases tax payers to recover Rs 5,000 cr


    The income tax department has come across several cases where taxpayers have taken credit for payment of "self-assessment tax" without actually clearing the dues, resulting in arrears of around Rs 5,000 crore. "We are sending reminders at the moment,...

    The income tax department has come across several cases where taxpayers have taken credit for payment of "self-assessment tax" without actually clearing the dues, resulting in arrears of around Rs 5,000 crore. "We are sending reminders at the moment, requesting them to clear the dues so that the tax returns can be processed," said a senior officer.
    Kumbh to generate Rs1.2 lakh crore revenue: CII

    Kumbh to generate Rs1.2 lakh crore revenue: CII


    The Uttar Pradesh government has allocated Rs 4,200 crore for the 50-day Kumbh Mela this time, which is over thrice the budget of the Maha Kumbh in 2013, making the mega pilgrimage perhaps the costliest...

    The Uttar Pradesh government has allocated Rs 4,200 crore for the 50-day Kumbh Mela this time, which is over thrice the budget of the Maha Kumbh in 2013, making the mega pilgrimage perhaps the costliest ever.
    RIL chief outlines plan to take on Amazon, Flipkart

    RIL chief outlines plan to take on Amazon, Flipkart


    Jio and Reliance Retail will launch a commerce platform to empower its 12 lakh small retailers in Gujarat. The retail arm operates nearly 10,000 outlets across 6,500 Indian cities which will come aboard through Jio’s apps. Last month, India tightened...

    Jio and Reliance Retail will launch a commerce platform to empower its 12 lakh small retailers in Gujarat. The retail arm operates nearly 10,000 outlets across 6,500 Indian cities which will come aboard through Jio’s apps. Last month, India tightened rules that will disallow foreign-owned online retailers and will benefit local enterprises such as Reliance.
    Wipro Q3 profit jumps 32%; announces dividend

    Wipro Q3 profit jumps 32%; announces dividend


    Net profit of the IT major stood at Rs 2,545 crore in the three months to December 31, from Rs 1,930 crore in the same period a year earlier. The Bengaluru-based company's revenue increased by 10.2 per cent in Q3, while revenue from its IT services grew...

    Net profit of the IT major stood at Rs 2,545 crore in the three months to December 31, from Rs 1,930 crore in the same period a year earlier. The Bengaluru-based company's revenue increased by 10.2 per cent in Q3, while revenue from its IT services grew 13 per cent.
    Tesla to cut jobs, says 'road ahead is very difficult'

    Tesla to cut jobs, says 'road ahead is very difficult'


    "Higher volume and manufacturing design improvements are crucial for Tesla to achieve the economies of scale required to manufacture the standard range (220 mile), standard interior Model 3 at $35k and still be a viable company," the electric carmaker...

    "Higher volume and manufacturing design improvements are crucial for Tesla to achieve the economies of scale required to manufacture the standard range (220 mile), standard interior Model 3 at $35k and still be a viable company," the electric carmaker said.