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Saudi Arabia to restore output by end-September

Singapore : Oil prices extended their losses from the previous session on Wednesday, after Saudi Arabia’s energy minister said the Kingdom will restore lost oil production by the end of the month. But investors remained cautious of potential tension in the Middle East after the United States said it believes the attacks that crippled Saudi Arabian oil facilities last weekend …

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LIC assets over Rs 31,11,000 Cr

Panaji: On September 1, 2019 LIC entered 64th Year of its incorporation. LIC has grown from strength to strength be its customer base, Agency Network, Branch Office Network or New Business Premium. LIC is Serving 29 Crore Policies through 4851 Offices (Including 2048 Branches) 1,12,000 employees and 11,80,000 agents. Starting with initial capital of Rs 5 Cr. In 1956, LIC …

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TTAG delegation meet Union Tourism Minister

Panaji: TTAG delegation met the Union Tourism Minister Shri Prahlad Singh Patel and gave a representation which included demands like reduction in GST, problems faced by charter operators in obtaining landing slots and operational issues at the airport and CRZ relaxation from 200 meters to 100. The TTAG also suggested that the government should organise an international travel mart to …

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Govt scraps import duty on open cell TV panel

New Delhi: The government has scrapped import duty on open cell TV panel used to make television sets, as it aims to boost local manufacturing by lowering input costs for TV makers who have been complaining about a slump in demand. The decision to remove 5 per cent customs duty will help reduce manufacturing cost by around 3 per cent …

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Growth eases, KoPT feels slowdown heat

Kolkata: The slowdown seems to have touched the Kolkata Port Trust (KoPT) as its cargo handling has gone down suddenly in August, but the authorities expect a revival in demand during the remaining months of the year. Till July, the growth of the port was 10 per cent in the current fiscal. However, if the KoPT’s performance for August is …

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Adidas Yeezy debut in India in kids’ sizes

New Delhi: Sportgear giant Adidas in launching its Yeezy Boost 350 V2 Cloud White and Citrin sneaker line for children and infants in India. The two shoe lines have been designed by Kanye West for Adidas and will retail in kids (for Cloud White) and infant (for Citrin) sizes in India for the first time, along with respective adult sizes. India has …

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Suzuki opens new showroom in Margao

PANAJI: Suzuki Motorcycle India Pvt ltd zonal manager Sachin Shende, Rajesh Nair and Hemant Kolhapure (Asst General Manager Bank Of India) inaugurated the new showroom of Auto K Suzuki at S6, S7 &  S8, Aadharsh Chodankar residency, Arlem bypass road, Agalli, Margao Goa, says a press release. Top executives from the company including  Tushar Panchal and Gaurav Thakur Suzuki Motorcycles …

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Risk weight cut on consumer loan is credit negative: Moody’s

Mumbai: The Reserve Bank’s (RBI) decision to reduce risk weighting on consumer loans is credit negative as it will encourage banks to increase their exposure to this loan segment at a time when credit risks are already increasing, said a report by Moody’s Investors Service. On September 12, the Reserve Bank of India reduced risk weighting on consumer loans such …

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Over 6 cr EPFO subscribers to get 8.65% interest: Gangwar

New Delhi: Labour Minister Santosh Gangwar on Tuesday said over 6 crore EPFO accounts will be credited with interest amount at 8.65 per cent rate for 2018-19 ahead of the festival season. The Central Board of Trustees — the apex decision-making body of the Employees’ Provident Fund Organisation (EPFO) — had approved 8.65 per cent interest rate for the last …

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Centre formulating National Coal Index

Kolkata: In the wake of the government’s decision to allow foreign direct investment and open up coal sector to commercial mining, the Centre is in the process of formulating a National Coal Index, a senior official said on Tuesday. A high-powered panel, in 2018, had recommended to develop a Coal Index for determining the value of blocks and a revenue-sharing …

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