Business
Rupee Weakens by 17 Paise on Strong Dollar Demand
Forex dealers said dollar strengthening against other currencies overseas on strong US sales data weighed on the rupee sentiment.
Financial Stress on Telcos Making Ops Unviable: Vodafone to DoT
In a letter to the Department of Telecom, Vodafone said the financial burden on the industry has reached a level where it is unviable for operators to provide services.
Common Use Items Exempt from E-way Bill Provision Under GST
The Goods and Services Tax (GST), rolled out from July 1, mandates obtaining permits called e-way bills for transporting goods consignment of more than Rs 50,000 in value with a view to checking tax evasion.
Govt Bonds Oversubscribed, FPIs Bid For $1 Billion
Foreign portfolio investors (FPIs) bid for investment limits in government debt securities worth Rs 7,116 crore (USD 1.1 billion) as against Rs 5,481 crore (USD 854 million) on offer, the exchange data showed.
Wholesale Price Inflation Rises Sharply to 1.88% in July
Inflation based on the wholesale price index (WPI) was 0.90 per cent in June 2017 and 0.63 per cent in July 2016.
Idea-Vodafone Deal Gets Conditional Go-ahead from SEBI, Bourses
The multi-layered Idea-Vodafone deal was announced in March and recently got clearance from the fair trade regulator CCI.
Air India Seeks $740 Million Loan to Finance Purchase of 6 Boeing Planes
While the government is working on final contours for a strategic disinvestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas destinations.
FM Jaitley Indicates Scope for Rationalisation of Rates Under GST
With regard to criticism over several slabs in the GST rates, the finance minister said there cannot be a single slab in a country like India which has a large population below poverty line (BPL).
Snapdeal Ends Takeover Talks With Flipkart; To Go Solo
E-commerce giant Snapdeal was reported to be in talks for selling its business to Flipkart in a $900-950 million deal. It has now terminated talks to pursue an “independent path”.
As Food Prices Slump, Pressure Grows For More Interest Rate Cuts
Falling prices for pigeon pea lentils have contributed to a slump for food that dropped annual consumer price inflation to 1.54% in June, the lowest since a new index was adopted in 2012.
Snapdeal to Send Flipkart's Proposal to Shareholders This Week
When contacted, a Snapdeal spokesperson said: "No formal communication has been shared with shareholders and no board vote has happened on a proposed deal".
IRB Infra Q1 Profit Surges 31 Percent to 238 Crore
The total income increased to Rs 1,870.4 crore, from Rs 1,548.08 crore in the corresponding quarter last fiscal.
IMF Keeps India's Growth Forecast at 7.2% For 2017-18
India, however will continue to grow faster than China in 2017 as well as 2018. Growth in India, the multilateral agency said, is forecast "to pick up further in 2017 and 2018, in line with the April 2017 forecast.
Gold Near Four-week High as Political Uncertainty Weighs on Dollar
Spot gold was nearly flat at $1,254.31 per ounce at 0346 GMT. It earlier hit a 4-week high of $1,257.18 an ounce, having risen 2.1 percent last week.
Rupee Slips 1 Paisa Against Dollar to 64.46
Traders said fresh demand of the US currency from importers weighed, but a higher stock opening and dollar’s weakness against other currencies overseas capped the rupee’s fall.
Fall in Vegetable and Dal Prices Leads to the Lowest Inflation Rate in 5 Years
A release by the Ministry of Statistics and Programme Implementation on Wednesday showed that vegetable prices contracted by 16.5% while pulses fell nearly 22%.
