Tuesday , 18 September 2018
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Business

If It Ain’t Broke, Don’t Fix It

D M Deshpande The Government belatedly has come out with a draft e commerce policy. Or is it just proposals and the draft policy would be placed on the public domain in course of time. Technicalities apart, since the Flipkart has been here for over 10 years and Amazon for five years now, the policy on this score now appears ... Read More »

Banks take about `70,000 cr hit due to frauds in last 3 fiscals

PTI   NEW DELHI Indian banks reported a total loss of about Rs 70,000 crore due to frauds during the last three fiscals up to March 2018, the Rajya Sabha was informed on Tuesday. The extent of loss in fraud cases reported by scheduled commercial banks (SCBs) for 2015-16, 2016-17 and 2017-18 was Rs 16,409 crore, Rs 16,652 crore and ... Read More »

Exide to invest `550 cr for two projects in Bengal

IANS   HALDIA Exide Industries, which is aspiring to supply batteries for bullet trains, will invest over Rs 550 crore for setting up a recycling battery plant and expanding its existing facility here to manufacture Nickel-Cadmium batteries, an official said on Tuesday. “The expansion project will mainly produce high-end Nickel-Cadmium batteries in technical collaboration with Furukawa of Japan. These batteries ... Read More »

Trump warns trading partners over Iran sanctions

IANS WASHINGTON US President Donald Trump on Tuesday issued a strong warning to anyone trading with Iran, following his re-imposition of sanctions on the country. “The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed and in November they ratchet up to yet another level. Anyone doing business with Iran will not be doing business ... Read More »

‘MHA has not exercised its power to shut telecom services’

PTI   NEW DELHI Ministry of Home Affairs (MHA) has not exercised its power under the Temporary Suspension of Telecom Services Rules 2017 till date, Rajya Sabha was informed Friday. “MHA has informed that it has not exercised its power under the Temporary Suspension of Telecom Services (Public Emergency or Public Safety) Rules, 2017 till date,” Telecom Minister Manoj Sinha ... Read More »

‘Govt to move HC against Reliance arbitration award’

PTI   NEW DELHI Oil Minister Dharmendra Pradhan Friday said the government will file an appeal in High Court against a ruling by an international tribunal which rejected its US$ 1.55 billion claims against Reliance Industries for allegedly siphoning gas from fields operated by state-owned ONGC. A three-member international arbitration tribunal, by a majority vote last week, held that Reliance ... Read More »

Demand conditions accelerate July service sector growth

IANS NEW DELHI Favourable demand conditions accelerated the growth of India’s service sector in July, key economic data showed on Friday. Accordingly, the seasonally adjusted Nikkei India Services Business Activity Index rose from 52.6 in June to 54.2 in July, the strongest rate of output growth since October 2016. Economic Affairs Secretary Subhash Chandra Garg said the numbers were “indicative ... Read More »

63% of firms struggling to comply with EU GDPR

IANS NEW DELHI Nearly 63 per cent of the Indian organizations are struggling in their compliance journey towards the European Union General Data Protection Regulation (GDPR) that came into effect on May 25, a new report said on Thursday. While 60 per cent citied inadequacy of skilled talent as a major obstacle in their GDPR compliance journey, 50 per cent ... Read More »

JioPhone leads mobile market gives birth to ‘Fusion’ segment

NEW DELHI Reliance Retail’s JioPhone emerged as a clear leader in the Indian mobile handset market with 27 per cent share in the second quarter of 2018, a new report said on Thursday. JioPhone has given birth to a new segment in India – the “Fusion” phones segment. “Fusion” handsets have a feature phone form factor with 4G connectivity and ... Read More »

GST on petroleum products only after revenue stabilises: Sushil

IANS   KOLKATA Bihar Deputy Chief Minister and GST Council’s member Sushil Modi on Thursday said the Council can think of bringing the petroleum products under the new tax regime only after the monthly revenue target of Rs 1 lakh crore is achieved. He said there could be a “shortfall in revenue” in initial months as indirect tax rates on ... Read More »