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The Centre should, for the time being, put on hold its policy of allowing oil companies to fix fuel prices, Tamil Nadu Fisheries Minister D. Jayakumar said on Wednesday. Asked whether petroleum products should be brought within the ambit of the Goods and Services Tax (GST), he said that should be decided by the GST Council.

03:26:01 on 20 Sep

Read more at The Hindu

The Supreme Court Thursday extended by three months the deadline given to the Enforcement Directorate (ED) to complete the probe in the Aircel-Maxis deal case. A bench of Justices A K Sikri and Ashok Bhushan said the probe should be completed in three months. The apex court had in March given the ED a six-month deadline to complete the probe in the case.

02:56:01 on 20 Sep

A cross-section of fishermen in Ennore has raised concern over a pipeline being laid by the Indian Oil Corporation Limited across the wetlands of Ennore creek that has been ordered by the National Green Tribunal to be cleared of fly ash and remediated. IOCL is laying a LNG pipeline connecting Kamarajar Port and Manali Industrial Estate.

02:41:01 on 20 Sep

Read more at The Hindu

Online retailer Flipkart has lofty plans for its financial technology business as it looks to battle it out with Amazon and Paytm. The company has added a cardless credit line feature ahead of its annual flagship sales next month, targeting an estimated 45 million people on its platform not having access to formal credit. The credit line will have a limit of Rs 60,000.

01:25:01 on 20 Sep

Read more at Economic Times

In a respite to the common man, the Union Government on Thursday hiked the interest rates of small savings schemes, including National Saving Certificate and Public Provident Fund, for the October-December quarter. The move has come after the latest data from the Reserve Bank of India showed that fresh investments in small savings schemes like post office saving schemes.

11:25:01 on 20 Sep

Read more at Deccan Herald Inc and Indian private equity firm Samara Capital have bought Aditya Birla Group-owned ‘More’ retail chain for an enterprise value of ₹4,200 crore ($580.35 million). Amazon’s latest acquisition adds more heat to the US e-commerce giant’s battle with Walmart Inc in the Indian market after Walmart acquired Indian firm Flipkart for $16 billion earlier this year.

11:55:02 on 19 Sep

Read more at Livemint

Around four months after the Central Bureau of Investigation (CBI) downgraded a LookOut Circular (LOC) for liquor baron Vijay Mallya, British authorities had red-flagged to his lenders a Rs 170 crore transfer Mallya made to a bank in Switzerland. The bank, however, did not act on the legal advice they had received to restrain him when he flew back to London.

11:25:01 on 19 Sep

Read more at Moneycontrol

Anthill Ventures announced its partnership with HCG to launch Lumos. Lumos is a a market access programme designed for HealthTech startups with disruptive solutions and technologies within the core businesses of HCG which include oncology, fertility, precision medicine, genomics, research & diagnostics, as well as emerging areas across the healthcare ecosystem.

06:56:02 on 18 Sep

Read more at Telangana Today

An arbitral tribunal has told Infosys to pay former chief financial officer Rajiv Bansal a severance amount of ₹ 12.17 crore with interest as it rejected Infosys’ counterclaim for a refund of a previously paid severance amount of ₹5.2 crore and damages. Mr. Bansal quit the company in 2015 and was supposed to get ₹17.38 crore at that time.

03:26:01 on 18 Sep

Read more at The Hindu

Domestic fuel prices continued to scale new heights on Monday, with the price of petrol nearing the psychological Rs 90 a litre-mark in Mumbai with the fuel selling at Rs 89.44 under the dynamic pricing regime. As per rates released daily by state-run IOC, the depreciating rupee and expensive crude oil further pushed petrol and diesel to new record highs on Monday.

12:25:02 on 18 Sep

Read more at The News Minute

A day ahead of Electricity Minister P. Thangamani’s visit to New Delhi to seek supply of coal from the Centre for power generation, CM EK Palaniswami chaired a meeting of Ministers and senior officers at the Secretariat here on Monday to review the situation in the State. Since the Chief Minister has already written to the PM, the govt was hopeful of resolving the issue.

11:41:01 on 18 Sep

Read more at The Hindu

As the government on Monday proposed amalgamation of Bank of Baroda (BoB), Vijaya Bank and Dena Bank into the country's third-largest bank, BoB Managing Director P.S. Jayakumar said it may happen in four to six months. The envisaged amalgamation will be the first-ever three-way consolidation of banks in India, with a combined business of Rs 14.82 lakh crore.

09:11:02 on 18 Sep

Chinese smartphone major OnePlus has announced that it is foraying into smart TVs. The company claims it trusts its policies of simplicity, efficiency, and intelligent functionality in order to provide its customers with the best experience with its products. Pete Lau, the Founder and CEO of OnePlus is leading the team himself and is working on the smart TV project.

07:42:02 on 18 Sep

Read more at The News Minute

Even in a season of corporate misgovernance, scams and lack of any CEO-level and board-level accountability, a new leviathan of misgovernance threatens to dwarf the rest. Emerging from the murky depths, where it seems to have flourished, financial analysts and even the sectoral regulator, IL&FS defaulted on loan repayment obligations in the first week of September.

04:55:01 on 18 Sep

Read more at The Wire

An employee of Tech Mahindra was fired after being accused of discrimination and bigotry. Referred to as ‘Richa Gautam’ by former employee Gaurav Pramanik in his account, the woman was accused of being homophobic in the workplace. Taking to Twitter, Gaurav put out screenshots of an email he wrote to Richa after the SC scrapped section 377.

08:25:01 on 17 Sep

Read more at The News Minute

V Pratish Devadoss, MD of VGN Group, is confident that the worst times are over with demonetisation, Rera Act and GST. He is confident that the Chennai market is seeing the start of an upswing now. He believes the luxury segment has been moving as much as the budget apartments in city limits, as seen in over 70% of the VGN Group’s luxury Nungambakkam project getting sold.

04:10:01 on 17 Sep

Read more at Deccan Chronicle

United States-based media company Meredith Corporation, which bought the Time magazine brand in January, is now selling it to billionaire couple Marc and Lynne Benioff for $190 million (Rs 1,378 crore). The Benioffs are buying the brand at a personal level – the transaction is unrelated to the technology company Salesforce, which Marc Benioff founded.

02:40:01 on 17 Sep

Read more at Scroll

The money-spinning Kerala tourism industry celebrated quietly on Sunday after receiving the first chartered flight of tourists this season following the devastating floods.

The flight with 46 tourists from Australia landed at the Cochin International Airport on Saturday night.

The heavy rains and unprecedented floods that shattered the state, leaving hundreds dead and thousands homeless and causing widespread destruction, led to numerous cancellations by tourists.

11:26:01 on 17 Sep

Read more at The News Minute

Amazon is investigating allegations that some of its staff sold confidential customer data to third party companies particularly in China. According to a Wall Street Journal report, which did not give figures, employees of the e-retailer sell internal data and other confidential information to merchants who sell their goods on the US giant's website.

10:57:01 on 17 Sep

Read more at News 18

Over the weekend, two units of the Mettur Thermal Power Station were shut down, affecting production of 420 MW (210 MW) each. This despite Electricity Minister stating that the station had three days of coal and Thoothukudi had six days of stock. A govt that was boasting of “surplus power” has suddenly been jolted and found wanting in managing the power situation.

10:10:01 on 17 Sep

Read more at The Hindu

The Tezos cryptocurrency project is preparing to launch the long-awaited main version of its network that underpins a new virtual token on Monday, a Swiss foundation that promotes the initiative said. The Tezos Foundation raised $232 million in July 2017 to issue a new type of cryptocurrency to its backers in one of the largest-ever initial coin offerings

09:40:02 on 17 Sep

Read more at Deccan Chronicle

In tune with BJP ruled states Rajasthan beside Andhra Pradesh bringing down the state levy on motor fuel, Karnataka is likely to bring down the State VAT on petroleum products from Monday that will give relief to users between Rs 2 to 3 per liter on prevailing prices in the State, official sources said.

10:57:01 on 16 Sep

State owned OMCs have again increased the price of sensitive petroleum products like petrol and diesel in the country. The prices of petrol and diesel touched a new high on Sunday with Mumbai paying the maximum. While petrol costs RS 89.29 a litre in Mumbai , it costs RS 81.91 a litre in Delhi, Rs 83.76 a litre in Kolkata and Rs 85.15 a litre in Chennai,

02:25:01 on 16 Sep

Read more at The Hindu

The Indian govt announced a slew of steps aimed at decline in the rupee, and it left the door open to announcing more measures. After an economic review meeting India's finance minister said the government plans to take measures to cut down imports, ease overseas borrowing norms for the manufacturing sector and relax rules around banks raising masala bonds.

10:25:02 on 15 Sep

Read more at NDTV

Pointing out that the coal stock in the State has reached a critically low level, Chief Minister Edappadi K Palaniswami on Friday urged Prime Minister Narendra Modi to instruct authorities concerned, both in the ministries of coal and railways, to ensure a supply of 72,000 tonnes of coal per day to Tamil Nadu at the earliest.

02:27:01 on 15 Sep

Volkswagen will stop making the Beetle car next year, ending nearly seven decades of production, the company has announced. The company’s American unit said it would halt output at its plant in Mexico after making two special edition models of the third-generation bulbous bug. Volkswagen has no immediate plans to revive the Beetle, but the company wouldn’t rule it out.

03:10:01 on 14 Sep

Read more at The Guardian

Ahead of Telangana’s electric vehicle policy which will be unveiled soon, it has been stipulated that all new auto-rickshaws must be electric, and no new diesel three-wheelers will be allowed. This was announced by TS Principal Secretary Arvind Kumar while he was speaking at a high-level forum on India Climate Action at the Global Climate Action Summit in San Francisco.

11:10:01 on 14 Sep

Read more at The News Minute

The much awaited Mahila Mall, the first ever mall run by women, will be launched by mid-October, as the promoters, Kozhikode Corporation Kudumbashree CDS is trying to recover from the delay caused by the recent flood. The administrative office of the mall was opened on Wednesday to speed up the activities and to prepare the mall for opening by the CM next month.

10:26:02 on 14 Sep

Read more at The Hindu

Former RBI governor Raghuram Rajan’s 17-page note to the estimates committee of parliament headed by Murli Manohar Joshi is being described as fair and balanced by both the BJP and Congress. The BJP is thrilled that the report says the bulk of the loans which have gone bad were given by banks during the UPA period.

12:55:01 on 14 Sep

Read more at The Wire

GMR Hyderabad International Airport Ltd Thursday said it has received the Airports Council International Airport Service Quality World no.1 airport award trophy in the 5-15 Million Passengers Per Annum (MPPA) category for the second consecutive year. This year's ACI ASQ Award marks the ninth consecutive year of Global Top 3 ranking by RGIA in its size category.

06:57:02 on 13 Sep

Read more at Deccan Chronicle

Preparations are on for the second edition of the Global Investors Meet to be held on January 23-24 next year and the TN govt is aiming to attract investment more than the first edition of the GIM. The first phase of the CKIC project, which will have Madurai-Virudhnagar-Dindigul-Theni and Thoothu-kudi-Tirunelveli nodes, would require an investment of nearly `91,000 crore.

01:10:02 on 13 Sep

Prime Minister Narendra Modi is likely to hold a meeting to discuss the country’s economy this weekend, according to multiple reports on Wednesday that triggered a sharp recovery in rupee, which has shed 12% of its value this year. Possible fiscal and monetary steps will be discussed at the meeting which will include the country’s top finance officials.

12:57:01 on 13 Sep

Read more at Hindustan Times

Under attack from the Opposition over rising fuel prices, Railway Minister Piyush Goyal asserted that the government would not allow itself to react in a “knee-jerk” manner on the issue as any move made in haste could potentially end up harming the economy by pushing up inflation and worsening the fiscal deficit.

12:40:02 on 13 Sep

Read more at The Hindu

The Indian rupee has wobbled with metronomic regularity every five year—you could describe it as a five-year itch. The sharp decline of the Indian currency against the US dollar in recent weeks is part of that pattern. The current rupee trouble was preceded by similar episodes in September 2008 and August 2013. But India is today in a better place than it was in 2013.

12:40:02 on 12 Sep

Read more at Livemint

Karnataka CM HD Kumaraswamy on Monday demanded that Oil Marketing Companies (OMC) release additional LPG connections for the state's Mukhya Mantri Anila Bhagya Yojana (MMABY), an official statement said. Kumaraswamy met Union Petroleum Minister Dharmendra Pradhan on Monday to seek his directions, saying that MMABY was "complementary" to the Central govt's PMUY.

01:25:01 on 11 Sep

Read more at The News Minute

With the Indian rupee caught in a downward spiral, like never before, the Centre has asked the RBI to rev up efforts to support the rupee, Asia’s worst-performing currency of the past month, people familiar with the matter told Bloomberg. Last week, govt officials communicated to RBI on the need to intervene more aggressively in the market to support the rupee.

12:57:01 on 11 Sep

Read more at News 18

After locals and IICT built 28 compost pits at the Kapra lake to convert the water hyacinth into manure, residents are worried that the GHMC might demolish structures for the immersion of Ganesh idols. Residents of Kapra and Sainikpuri have started a social media campaign against the proposed move to demolish the structures.

12:41:01 on 11 Sep

Read more at Deccan Chronicle

Due to the increase in fuel prices by the Central government, the BMTC and the KSRTC have proposed to hike the price of tickets by 15 to 18 per cent in the coming week. However, the Bengaluru Bus Prayanikara Vedike has condemned this move by the Central and state governments “who have both burdened the poor who access the affordable public transport system in the state.”

10:25:02 on 11 Sep

Petrol price crossed the psychological Rs 90-mark in Maharashtra’s Parbhani on Monday, the costliest in any Indian city, a day after an Opposition-sponsored Bharat Bandh saw the government reiterate that it had no plans to cut excise duty on petroleum products. Continuing its upward swing, petrol price touched Rs 80.87 per litre in Delhi and Rs 88.26 per litre in Mumbai.

09:57:01 on 11 Sep

Read more at News 18

The rupee breached 72.5 a dollar on Monday and touched an all-time low of 72.67 intraday as the current account deficit widened to five- year high in the first quarter of the current financial year, to $15.8 billion or 2.4%, of the GDP. Steps would be taken to arrest the fall in the currency, including deposit schemes for NRIs along with central bank intervention.

08:10:01 on 11 Sep

Read more at The Hindu

Two Kickstarter campaigns in the time period 2016-2017 set out with relatively modest goals: Each intended to raise around $20,000 to create products that claimed to relieve stress. Instead, both made millions and ended up helping to create an entire economy out of the treatment of anxiety with simple items. What does it mean when viral products exist to calm us down?

04:55:01 on 11 Sep

Read more at Vox

Jack Ma, co-founder of Alibaba Group Holding Ltd., announced on Monday his plans for stepping down from the e-commerce giant and handing over responsibilities to senior management. Since founding the company in 1999 with 17 other people in Hangzhou, China, Ma has become the distinctive face of the company -- and through its success, the country's technology industry.

12:55:01 on 11 Sep

Read more at NDTV
AirAsia India's 'Big Sale' offer extended

AirAsia India has announced 48-hour extension to its 'Big Sale' offer. After the extension, the flight offer is available till September 11, 2018. Flight tickets are available at a starting all-inclusive price of Rs. 999. The travel period of the offer is from February 18, 2019, to November 26, 2019. Discounted tickets are available only for online bookings.

10:10:01 on 10 Sep

Read more at NDTV

Congress' Gujarat in-charge and MP Rajeev Satav, GPCC president Amit Chavda and other leaders were detained while protesting during Bharat Bandh. Opposition party workers allegedly halted trains at various stations in West Bengal, while their attempts in Maharashtra were foiled by the police as they were chased away and services were resumed.

11:57:01 on 10 Sep

Read more at News 18

The Indian rupee on Monday crashed to a new record low of 72.18 by falling 45 paise against the US dollar. The fall is rupee is due to strong demand for the US currency from importers as the greenback strengthened against other currencies overseas on upbeat jobs data, said forex dealers. The domestic currency skidded to hit a fresh low of 72.18, down by 45 paise.

11:11:02 on 10 Sep

Read more at NDTV

In a sensational case of bank fraud in the state, a Tamil Nadu-based firm has been accused of defrauding the State Bank of India to the tune of Rs 90 crore.

Indhumathi Refineries Private Limited in Virudhunagar district, Tamil Nadu, is alleged to have defrauded the State Bank of India by using fake invoices in exchange for obtaining Letters of Credit (LoC) from the bank.

10:25:01 on 10 Sep

Read more at The News Minute

The State government has chalked out plans to add 10,000 MW solar power in the State by 2022, to help bring down tariff as well as make Andhra Pradesh a power-surplus State. The government has already taken up 4,000 MW ultra solar power projects at Kurnool, Anantapur and Kadapa. The government has been promoting renewable energy, including solar, in a big way since 2014.

09:10:01 on 10 Sep

Read more at The Hindu

The Congress and several opposition parties will observe a Bharat Bandh on Monday to protest rising fuel prices, after accusing the BJP-led government of not doing enough to bring down the prices and reduce hardships caused to the common man.A host of major opposition parties — the Left, SP, RJD, NCP, DMK — have supported the bandh.

10:57:01 on 09 Sep

Read more at Hindustan Times

APPB VC C Kutumba Rao lashed out at leaders from the Opposition parties for making “wild allegations” against the state. This comes just days after former MP from Rajamundry Undavalli Arun Kumar claimed the bond would push the state into poverty and BJP’s GVL Narasimha Kumar’s allegations over lapses on the part of the state while opening Personal Deposit Accounts.

06:25:01 on 09 Sep

Read more at The News Minute
Petrol, diesel prices hiked again

State-owned oil marketing companies have again increased the price of sensitive petroleum products like petrol and diesel in the country on Sunday. The prices of petrol and diesel touched a new high with Mumbai paying the maximum among the four metros. While petrol costs ₹ 87.89 a litre, diesel is priced at ₹ 77.09 a litre, according to the daily price notification.

11:27:01 on 09 Sep

Read more at The Hindu

Domino's Pizza in Russia seems to have severely underestimated the lengths to which people will go to for free pizza. On Tuesday, the pizza chain was forced to end a promotional offer in Russia which promised customers free pizza for life if they got the brand's logo tattooed "in a prominent place" on their body, reports the New York Post.

02:25:01 on 09 Sep

Read more at NDTV

Though the Centre has rejected the proposal to establish an EMC in Kakinada, the State government has decided to go ahead with the project and land for the same has been identified, Minister for IT, Electronics and Communications N. Lokesh has said. The government was working to make the State a hub for the manufacture of electronic goods.

08:55:01 on 08 Sep

Read more at The Hindu

Petrol and diesel price were Friday hiked by about 50 paisa a litre respectively - the steepest increase in rates since the daily price revision came into effect over 14 months back - to push rates to their highest ever. Petrol price was hiked by 48 paisa per litre and diesel by 47 a litre, according to price notification issued by state fuel retailers.

10:57:02 on 07 Sep

Read more at Hindustan Times

Nearly a week after the Confederation of All India Traders approached the National Company Law Appellate Tribunal against the CCI approval for Walmart-Flipkart deal, NCLAT has issued a notice to Walmart enquiring about its business model in India. Walmart will be expected to respond by September 20, 2018.

10:40:01 on 07 Sep

Read more at The News Minute

With the currency losing more than 11% to the dollar this year, the country will have to shell out an extra Rs 68500 crore when repaying short-term debt in the coming months, according to numbers arrived at by the SBI. The rupee fell past 72 per dollar to a record low on Thursday, amid a deepening emerging market contagion and the risk of a wider current-account deficit.

06:57:01 on 07 Sep

Read more at Hindustan Times

Prime Minister Narendra Modi on Friday unveiled a mobility road map that seeks investments in manufacturing electric vehicles and increased use of public transport for travel. Congestion-free mobility was critical to check economic and environmental costs of congestion. Clean mobility, powered by clean energy, was the most powerful weapon to fight climate change.

03:40:01 on 07 Sep

Read more at The Hindu

Bengaluru-based cloud kitchen player FreshMenu seems to be in trouble. Three top executives have left the company in the last few months, as per an exclusive report in TechCircle. Those who have left in the recent months include the Chief Business and Technology Officer, Pradeep Desai, Chief of HR, Anita Menon and Aparna Mahesh, Chief Marketing Officer.

12:55:01 on 07 Sep

Read more at The News Minute

The rupee was trading higher by 24 paise to 71.75 against the U.S. currency in late morning deals due to sustained bouts of dollar selling from banks and exporters. The rupee traded in wide range as heavy dollar demand pulled down it to 72.04 only to be supported by good supply of dollars from RBI through banks which helped its recovery, it was trading 71.75 at 1025 hours.

12:18:05 on 07 Sep

Read more at The Hindu

IDBI Bank has filed an insolvency application against the Anil Ambani-owned Reliance Naval and Engineering in a petition that seeks debt resolution under India’s insolvency and bankruptcy (IBC) process. The application kicks off an end-game of sorts for Reliance Naval, which for the last six months has struggled to present an acceptable resolution plan to its lenders.

01:25:02 on 07 Sep

Read more at The Wire

The wholly owned subsidiary of Hyderabad-based Aurobindo Pharma, Aurobindo Pharma USA Inc, has entered into an agreement to acquire commercial operations and three manufacturing facilities in the US from Sandoz Inc, USA, a division of Novartis, for $900 million. The acquisition will include dermatology and oral solids business from Sandoz.

10:25:01 on 06 Sep

Read more at Telangana Today

India launched the GST just over a year ago, its biggest ever tax reform, aiming to replace more than a dozen central and state levies and unify the sprawling economy. The move improved economic efficiency but critics say the complexities of the new regime have driven many small enterprises out of business and forced hundreds of thousands out of jobs.

01:26:01 on 06 Sep

Read more at NDTV
IndiGo may start flights to UK this winter

Budget airline IndiGo is likely to expand its wings into Europe with flights to Gatwick airport near London this winter, according to a source. The winter schedule starts from the last Sunday of October aThe flight to London Gatwick airport will include a stop mid-way. The move is part of the airline’s plan to expand into Europe and add at least nine destinations.

06:10:01 on 06 Sep

Read more at The Hindu

There has been “no drastic change in the broad character” of FDI into India during the administration of the current NDA and its Congress-run predecessor, according to a new study. FDI into sectors was responsible for 19% of FDI into India between October 2014 and March 2017, a fall of two percentage points from 21% over the previous two years, said the ISID study.

04:25:01 on 06 Sep

Read more at The Quint

Finance minister Arun Jaitley on Wednesday said there is no need for panic or a knee-jerk reaction in view of the sharp rupee depreciation as it is driven by global factors. The rupee on Wednesday fell further against the US dollar. During the day, the currency hit a fresh low of 71.97 per dollar but recovered slightly on the intervention of the Reserve Bank of India.

01:55:01 on 06 Sep

Read more at Livemint

ONGO Framework, which provides application development platform for enterprise mobility, digital transformation, mobile and web applications, has opened its new office in Hyderabad. ONGO Framework, which is a home-grown Information Technology company, was awarded the ‘Hottest Startup Award’ at HYSEA Annual Awards in 2016 by the Telangana government.

08:55:01 on 05 Sep

Read more at Telangana Today

The SC agreed to hear next week a PIL seeking stay on the Rafale fighter jet deal between India with France. A Bench comprising CJI Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud considered the submissions of advocate M L Sharma that his plea be listed for urgent hearing. In his PIL, Sharma alleged discrepancies in the fighter jet deal and sought stay on it.

01:40:01 on 05 Sep

Read more at The Tribune

At a time when the Food Safety and Standards Authority of India is cracking down on non-compliant restaurants, Zomato has announced that it will be de-listing hundreds of restaurants, which are not compliant with these norms, from its food delivery platform. It says that it is joining forces with FSSAI to take strict actions in the interest of public health.

11:25:01 on 05 Sep

Read more at The News Minute