Business

Shoppers in China and across the world snapped up hot items including iPhones, furniture and milk powder starting pre-dawn, with Alibaba recording roughly $10 billion in sales in the first hour after midnight.

Tensions between the RBI and the government have recently escalated, with the Finance Ministry initiating discussion under the never-used-before Section 7 of the RBI Act which empowers the government to issue directions to the RBI Governor.

In a 13-page order, the Competition Commission of India (CCI) also dismissed complaints that Ola and Uber are imposing a resale price maintenance system on the drivers as well as alleged price discrimination.

In a letter to Union Civil Aviation Minister Suresh Prabhu last week, Pawan Hans Joint Employees Forum (PHJEF) has also requested the government to ensure the interest of the company and its employees do not get compromised in the process.

The report predicts average app usage time in India will grow by 90 per cent in 2019 from 2 hours in 2017, app downloads 153 per cent and digital advertising 25 per cent from 73 per cent and 13 per cen in 2017.

ONGC's net profit stood at 82.65 billion rupees ($1.14 billion) in the quarter ended Sept. 30, compared with 51.3 billion rupees a year earlier, the company said in a stock exchange filing.

Rumours are rife that RBI Governor Urjit Patel might offer to resign if Section 7 of RBI Act is invoked to transfer reserves.

Government officials are reportedly upset with RBI deputy governor Viral Acharya for publicly talking about the rift with the government.

The transaction is by far IBM's biggest acquisition. It underscores IBM Chief Executive Ginni Rometty's efforts to expand the company's subscription-based software offerings, as it faces slowing software sales and waning demand for mainframe servers.

Besides, weak Asian cues on worries over China-Us trade dispute influenced sentiment.

The letter comes as relations between Washington and New Delhi are strained over multiple issues, including an Indo-Russian defence contract, India's new tariffs on electronics and other items, and its moves to buy oil from Iran despite upcoming US sancti...

Steps taken by the government to curb non-essential imports and anticipation of more measures to attract foreign inflows have boosted sentiment in the market, traders said.

Bandhan Bank's net interest income for the quarter rose to Rs 1,078 crore, from Rs 693 crore in the year-ago quarter, while its net interest margins stood at 10.9 per cent, compared with 9.3 per cent.

IMF forecast of 7.3 per cent growth for India in the current year of 2018 and that of 7.4 per cent in 2019, too, boosted investor sentiment.

Consistent dollar demand from importers, mainly oil refiners, following higher crude oil prices, kept the rupee under pressure.

The discussions with India on a trade deal is at an "early" stage, the top White House official said.