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Category archives for: Business

Airtel to add over 6,000 new sites in Gujarat

Ahmedabad: As part of its network expansion programme Project LEAP, Bharti Airtel on Monday announced plans to add more than 6,000 new sites in 2018-19, along with the deployment of an additional 2,000 km of optic fiber across Gujarat. “While stepping up the data capacities and taking services deeper into rural and unconnected areas, the […]

TCS first Indian company to touch $100 bn in market cap

Mumbai: Riding high on robust quarterly results and a weak rupee, IT bellwether Tata Consultancy Services (TCS) on Monday emerged as the first Indian listed technology company to cross the $100-billion mark in terms of market capitalisation (m-cap). The IT major — whose shares rose over four per cent to a new high of Rs […]

World Bank shareholders endorse capital increase plan

Washington: The World Bank has said its shareholders endorsed a capital increase package, a series of internal reforms, and a set of policy measures to strengthen the international lender’s capabilities. The $13 billion capital increase package includes $7.5 billion of paid-in capital for the International Bank for Reconstruction and Development (IBRD), the group’s primary lending […]

Audi India sees flat sales in 2018 following duty hike

Kolkata:  Luxury carmaker Audi India, which had looked at a double-digit growth this year, is now expecting that sales will be flat in 2018, following an increase in cess and hike of customs duty on some imported auto components announced in the Union Budget, an official said here on Friday. “Initially, we are planning for […]

Ghost of demonetization haunts Government, RBI: Chidambaram

New Delhi: Former Finance Minister P. Chidambaram on Wednesday attacked the government and the RBI over the acute cash crunch in the country and said the ghost of demonetization has come back to haunt them. He also needled the government on the recent bank scams, saying people appeared to have lost confidence in banks. “I […]

Deflating food prices softens India’s WPI inflation

New Delh: Deflating food prices softened India’s wholesale price-indexed (WPI) inflation to 2.47 per cent in March from 2.48 per cent reported for the previous month, official data showed on Monday. According to the Commerce Ministry data, the WPI inflation in March 2017 was more than double at 5.11 per cent. “The annual rate of […]

After India, Microsoft takes ‘Project Sangam’ to Middle East, Africa

New Delhi: In a bid to bridge the widening skill gap, Microsoft on Monday announced expansion of the capabilities of its Cloud-powered “Project Sangam” to the Middle East and Africa. Launched in India by Microsoft CEO Satya Nadella last year, “Project Sangam” is a Cloud-hosted platform that leverages Azure services and professional networking platform LinkedIn […]

RBI must ensure safety of proposed cryptocurrency: Assocham

New Delhi: Welcoming the RBI’s move to explore introduction of an official virtual currency in India, industry chamber Assocham on Sunday cautioned that extreme care be taken to ensure safety of the data trail that cryptocurrency transactions can leave behind. Placing a ban on all regulated entities, including banks, from dealing in virtual currencies like bitcoins, […]

Adani Ports expands Dhamra Port capacity to 100 mtpa

Bhubaneswar:  Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and part of the Adani Group, on Saturday inaugurated the Phase II expansion of Odisha’s Dhamra Port, increasing its cargo handling capacity from 25 million tonne per annum (MPTA) to over 100 mtpa. The inauguration ceremony took place in the presence of […]

Some PSU banks can be privatised, though time is not right now: SBI Chairman

New Delhi: The time is not right for privatisation of public sector banks (PSBs), though some of them could be divested by the government after making them financially attractive, according to a top banker. “The time, though, is not right at present, because these banks would need time to be strengthened and one has to […]

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