Business

The cost, which has not been publicly disclosed, is included within the 7.4-billion euro budget the German lender has set aside for its restructuring, which will also see 18,000 jobs axed as the bank exits unprofitable businesses.

With funding from local banks and non-banking financial companies drying up following a bad loan and credibility crisis in the financial sector, top global pension funds, sovereign wealth funds and private equity companies have stepped in to fill the gap,...

Traders said strengthening of the greenback vis-a-vis other currencies overseas, weak opening in domestic equities and foreign fund outflows weighed on the local unit.

The rupee opened weak at 69.17 at the interbank forex market and slipped further to 69.20, showing a decline of 41 paise against its previous close.

Non-subsidised or market priced LPG, which consumers buy after exhausting their quota of 12 cylinders of 14.2-kg each at subsidised rates, will now cost Rs 574.50 with effect from midnight on Thursday, the Indian Oil Corporation (IOC) said in a statement.

According to the Annual Report DPIIT, foreign direct investments (FDI) worth USD 286 billion were received in the country in past five years.

UPI is basically an immediate real-time payment system that helps transfer funds between two bank accounts instantly through mobile phones.

Dr Reddy’s Laboratories stock had already closed Monday’s trading session lower by 1.9% before the quarterly results were announced. The real effect of the earnings on the stock price would only be visible on Tuesday.

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The country exports non-basmati rice to mainly Bangladesh, Nepal, Benin and Senegal, and premier basmati rice to Iran, Saudi Arabia and Iraq.

Consolidated total income of the company stood at Rs 1,490 crore for the quarter under consideration as against Rs 1,192.6 crore for the same period year ago.

Tata Motors Ltd shares were up over 2% after falling over 5% in the previous session. Stocks of leading auto companies like Bajaj Auto Ltd and Maruti Suzuki India Ltd were trading lower by nearly 1.5%.

Under the new policy, external advice would be sought for RPTs that are worth over Rs 2 crore and bidding process would be mandatory for any such contracts.

The IMF on Tuesday projected a slower growth rate for India in 2019 and 2020, a downward revision of 0.3 per cent for both the years, saying its GDP will now grow respectively at the rate of 7 and 7.2 percent.

Kotak Mahindra Bank stock fell over 3% in intra-day trade to Rs 1,448.80 on Monday ahead of the results announcement. The stock has risen over 12% in the last one year.

The state-owned bank Wednesday reported over Rs 238-crore fraud by Bhushan Power and Steel, a third such instance after similar disclosures made by PNB and Allahabad Bank recently.