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SC rejects plea for lifting curbs on cash withdrawals

New Delhi: The Supreme Court on Friday refused to entertain a plea filed on behalf of scam-hit PMC Bank account holders seeking lifting of restrictions imposed by the Reserve Bank of India on cash withdrawals. A bench headed by Chief Justice of India Ranjan Gogoi said, “We are not inclined to entertain this petition under article 32 (writ jurisdiction). Petitioner …

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China’s GDP growth slows to 6% in Q3, slowest since 1992

Beijing: China’s growth slumped to 6 per cent in the third quarter of 2019, its lowest level in nearly three decades, as the world’s second largest economy struggled to overcome the impact of a bruising trade war with the US and sluggish domestic demand, according to official data released on Friday. The GDP figures emerged just one week after the …

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C Krishniah Chetty Group’s jewellery sale underway in city

Panaji: C Krishniah Chetty Group of Jewellers’ limited edition ‘Gauhar Collection’ featuring gigantic emeralds and pink sapphires which is inspired from the ancient architecture marvel of the Falaknuma Palace is underway at Hotel Fidalgo, Panaji between 10 am till 9 pm till October 20. The three-day collection was inaugurated by Vrushali Parsekar on Friday. The ‘Gauhar Collection’ jewellery is accentuated …

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Govt in talks with BRS Ventures for 2 HPC mills in Assam

Dibrugarh (Assam): Union Minister Rameswar Teli on Friday said the government is holding negotiations with the UAE-based conglomerate BRS Ventures for selling the PSU firm Hindustan Paper Corp’s two defunct mills in Assam. Addressing a joint press conference with BRS Ventures chairman B R Shetty, the Union Minister of State for Food Processing said that the Middle East business entity …

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BHEL jumps highest in decade on govt stake sale plans

Mumbai: Heavy electrical equipment maker Bharat Heavy Electricals Ltd (BHEL) on Friday gained over 22 per cent on the BSE over reports that the government may soon divest its stake in the company. BHEL scrips on the BSE had surged as much as 29.29 per cent to hit an intra-day high of Rs 57.60 apiece before closing at Rs 54.45 …

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Sell assets to repay PMC Bank loans: HDIL promoters to ED

New Delhi: Facing imminent threat of more properties being attached by the Enforcement Directorate (ED) in the Rs 4,335 crore Punjab and Maharashtra Cooperative (PMC) Bank fraud case, the Housing Development and Infrastructure Limited (HDIL) promoters and directors have written to the probe agency, Mumbai Police and the RBI to sell the properties at fair market rates to repay the …

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Maxxis Tyres opens first flagship store in Margao

Panaji: With the aim of scaling up its presence in the retail market, Maxxis India, opened its first store in Margao on Thursday. The Goa store is also the first exclusive outlet in India. Commenting on the flagship store, Bing-Lin Wu, marketing head, Maxxis India, said, “This is a big milestone for Maxxis Tyres as the retail outlet will strengthen …

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Sensex rallies 453 points to close above 39,000 mark

Mumbai: Extending its gains for the fifth consecutive session, equity benchmark BSE Sensex rallied 453 points on Thursday as global investors cheered a Brexit deal reached between Britain and the EU. Domestic traders were also enthused after Finance Minister Nirmala Sitharaman hinted at more stimulus measures as she urged international investors to pump funds into India. After trading on a …

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BIZ SCAN

‘The Galleria’ opens at Grand Hyatt PANAJI: Grand Hyatt Goa has opened its doors to The Galleria, a new shopping experience within the resort. The shopping space features a combination of quirky and premium brands ranging from Mario Miranda, John’s Umbrellas, Shaze, Hidesign, Speedo, Jamavar, Bipha Ayurveda, Freedom Tree and, for the first time in India, Van Ande l & …

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Will protect depositors’ interests, PMC chief assures RBI governor

PTI Mumbai Amid instances of deaths and also a suicide, of depositors, troubled PMC Bank’s administrator met RBI  top brass including Governor Shaktikanta Das on Wednesday. “It was assured that the bank will make all efforts to safeguard the interests of depositors and other stakeholders,” the statement from J B Bhoria, who was placed as the administrator last month by …

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