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August 16, Thursday 2018 9:23 AM       
       HEADLINES: Stranded girl seeks help via Facebook                                              Let contentious issues, extraneous debates not distract us: Prez's I-Day message to the nation                                              Modi says corrupt, black money hoarders will not be spared                                              ‘Sleeping elephant’ woke up, India to lead world growth for three decades: PM Modi                                              Scotland Yard returns 12th century stolen Buddha statue to India on I-Day                                              Trump Tower operators sued over water release into river                                              Anger grows in Italy as bridge toll rises to 38                                              Former India captain Ajit Wadekar no more                                              Kaumudi Facebook
       BUSINESS  
         Comfortable forex reserves to deal with undue Re volatility: Jaitley    
 
 
New Delhi: A day after the rupee plunged to record low, Union Minister Arun Jaitley said India has comfortable foreign exchange reserves to deal with any undue volatility in the currency market and developments are being closely monitored.

 
         Positive growth in steel sector, trend to continue: Tata Steel    
 
Jamshedpur: Tata Steel Ltd CEO and Managing Director T V Narendran today said the steel sector has been witnessing a positive growth and this trend will continue with improving economic activities across the world.

 
         Global Indian Solutions to address $900B NRI assets market in India    
 
 
NEW DELHI: NRI Banking veteran, Chavvii Prabakar and financial services and estate planning specialist, Shammi Khanna on Tuesday announced the launch of India's first integrated Solution platform for NRIs under their brand Global Indian Solutions">Global Indian Solutions. Global Indians comprise Non Resident Indians (NRIs), Persons of Indian Origin (PIOs), Overseas Citizens of India (OCIs) and Returning Indians (RIs). There are over 30 million Global Indians across the world, making them one

 
         DLF to offer only completed flats; to remove delivery uncertainty    
 
 
NEW DELHI:As part of its new business model, DLF will sell apartments only when it gets occupancy certificate after completing the project so as to remove any uncertainty regarding costs and delivery timelines, a senior official of the realty major said. The decision assumes significance as the Indian real estate market, especially Delhi-NCR, has been facing huge delays in project executions, forcing home buyers to protest and move courts. Lakhs of home buyers are stuck in various proj

 
         Adani walks away with gas rights for 21 cities; BPCL bags 11 cities    
 
 
NEW DELHI: Billionaire Gautam Adani's group has bagged licences to retail gas in 21 cities in the latest city gas distribution bid round that saw state-owned Bharat Petroleum Corp Ltd's unit and Torrent Gas emerging as the other big winners. Adani Gas won rights to retail CNG to automobiles and piped cooking gas to households and industries in 13 cities on its own and another nine, including Allahabad, in joint venture with state-owned Indian Oil Corp (IOC), according to results of 78 out of

 
         India Cements Q1 net profits slips to Rs 21.03 cr    
 
 
CHENNAI: Leading cement manufacturer India Cements Ltd, has recorded a slip in its standalone net profits for the quarter ending June 30, 2018 to Rs 21.03 crore. Noted industrialist N Srinivasan led firm had recorded net profits at Rs 26.44 crore during corresponding quarter of previous year. For the year ending March 31, 2018, net profits of the company stood at Rs 100.62 crore, the city-based company said in a BSE filing. Total income for the April-June quarter declined to Rs 1,366.17 cro

 
         Microsoft boss Nadella rakes in USD 35 million in share sale    
 
 
WASHINGTON: Microsoft's Indian-origin CEO Satya Nadella has netted over USD 35 million after selling almost one-third of his common shares in the software giant. Nadella sold 328,000 shares in multiple trades at prices ranging from USD 109.08 to USD 109.68 as the stock trades near a record price. The stock sale, disclosed in a regulatory filing yesterday, netted Nadella more than USD 35 million. Microsoft shares have soared 53 per cent in the past year, closing the week at USD 109.

 
         Odisha likely to put up 18 mines for auction this year: Mukim    
 
 
BHUBANESWAR: Odisha is likely to put up about 18 mines, including iron ore blocks for auction this year, union mines secretary Anil G Mukim said today. He termed Odisha as the country's 'mining capital' and said it contributes in a very substantive manner as far as mining activities of the country are concerned. Mukim met Chief Minister Naveen Patnaik here before speaking to the reporters on the auctioning of mines. "I think more and more mines are to be put up for auction. This year I

 
         Erdogan says Turkey 'won't lose economic war' after lira crash    
 
 
Istanbul: Turkish President Recep Tayyip Erdogan today pledged that Turkey would prevail in an "economic war" after the lira crashed to historic lows over Ankara's strains with Washington.

 
         Odisha likely to put up 18 mines for auction this year: Mukim    
 
Bhubaneswar: Odisha is likely to put up about 18 mines, including iron ore blocks for auction this year, union mines secretary Anil G Mukim said today. He termed Odisha as the country's 'mining capital' and said it contributes in a very substantive manner as far as mining activities of the country are concerned.

 
         US dollar ends sharply higher against rupee    
 
 
Mumbai: The US dollar finished sharply higher against the rupee at 68.83/84 per dollar but the pound sterling ended lower at Rs 87.86/88 at the close of the Interbank Foreign Exchange (forex) market here today.

 
         "Ligne Roset" is all set to cover North Indian market through India's premium furniture brand IOTA    
 
 
NEW DELHI: IOTA Boutique Furniture, an opulence of luxury is now a proud retailer of world's top furniture brand "Ligne Roset". Ligne Roset is a formidable force and a leader in the international design world with 200 exclusive Ligne Roset stores worldwide; 1000 retail distributors worldwide. After this tie-up, IOTA Boutique Furniture will be retailing the high-end Living, Dining, Sleeping, Working, Lighting and Decor of this luxury label. The store has dedicated its Ground Floor for this ex

 
         JP Morgan-CIIE to set up Financial Inclusion Lab    
 
 
Mumbai: J.P Morgan, a global banking and financial services provider, along with the Indian Institute of Management (IIM) Ahmedabad's Centre for Innovation, Incubation and Entrepreneurship (CIIE) on Tuesday announced a collaboration to set up a Financial Inclusion Lab. The initiative, estimated to cost around USD 9.5 million, aims at identifying and bringing to scale early-stage FinTech start-ups that focus on helping people in India within the lower and middle income (LMI) segment. The start-

 
         Adani Power net loss widens to Rs 825 cr in Apr-Jun qtr    
 
 
NEW DELHI: Adani Power today said its consolidated net loss widened by 82 per cent to Rs 825.15 crore in the quarter ended June 30, 2018. The company's consolidated net loss stood at Rs 452.84 crore in the quarter ended June of the previous fiscal, a BSE filing said. According to the statement, the company's total income in the quarter under review declined to Rs 3,959.40 crore from Rs 5,601.25 crore a year ago. The company said that this reduction in income was due to lower PLFs and bill

 
         Ola to launch its UK operations with ride-sharing offerings in South Wales, Greater Manchester    
 
 
NEW DELHI: Ride sharing platform Ola on Tuesday announced its plans to enter into the United Kingdom (UK) market with operations starting from South Wales and Greater Manchester. With a new service offering to the UK market, the world's largest ride-hailing company, which obtained its licences to operate in South Wales and Greater Manchester, will begin its launch operations in South Wales within the next month. With this expansion, Ola will be the only ride-hailing app in the UK that offers

 
         Indra Nooyi to step down as PepsiCo CEO    
 
 
New Delhi: PepsiCo on Monday announced that its Chief Executive Officer (CEO) Indra Nooyi will step down on October 3 after 12 long years of leading the US food and beverage giant.

 
         Paper Industry aims to rectify misconceptions about paper usage    
 
New Delhi: Paper industry celebrated Paper Day on August 1 by launching an awareness campaign on environment friendliness of paper as against several alternate materials. The campaign titled "Paper is Green" endeavoured to correct several myths regarding the usage of paper.

 
         Sensex hits record high, Nifty breaches 11,400 mark    
 
 
MUMBAI: Extending Friday's rally, the benchmark BSE Sensex jumped over 200 points to record a new high of 37,790.72 in early trade, and NSE Nifty breached the 11,400 mark today on widespread buying by consumer durables, PSU and banking counters amid firm Asian cues. The Sensex spurted by 234.56 points, or 0.62 per cent, to hit a new high of 37,790.72, surpassing its previous record of 37,711.87 clocked on August 1. While, Nifty also soared past 11,400 mark, by rising 62.80 points, or

 
         GST slabs may reduce to 3 in long-term: Sanjeev Sanyal    
 
 
Kolkata: In the long-term, Goods and Services Tax (GST) slabs may come down to three, in addition to the exempted category, Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry, today said.

 
         Lankan govenment reworking MoU on airport deal with India    
 
 
Colombo: The Sri Lankan government is reworking on the draft of a memorandum of understanding to hand over the management of Mattala Rajapaksha International Airport at Hambantota to an Indian airport operator, according to a media report today.

 
         Indian carriers need $50 bn to buy planes over 10 yrs: Report    
 
Mumbai: Indian carriers, which have placed large aircraft purchase orders, will require a whopping USD 50 billion of financing to take the expected scheduled delivery of these planes over the next nearly 10 years, a report said.

 
         GST slabs may reduce to three in long-term: Sanjeev Sanyal    
 
 
KOLKATA: In the long-term, Goods and Services Tax (GST) slabs may come down to three, in addition to the exempted category, Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry, today said. The three slabs could be a low of 5 per cent, a central 15 per cent (merging 12 per cent and 18 per cent slabs that exist now) and a top rate of 25 per cent, he said here at an interactive session organised by the Bharat Chamber of Commerce. "In the long-term, the GST rates might be squee

 
         Goibibo now enables users to login via WhatsApp    
 
 
NEW DELHI: Online travel booking platform Goibibo has launched a new WhatsApp integrated solution, allowing its users to sign-in to Goibibo on mobile web via WhatsApp. Through Whatsapp, login authentication will help mobile web users to log in without needing to remember password, keying in OTP or Mobile Number - rendering a convenient, seamless experience. "We are a mobile-first company and we want to leverage the mobile ecosystem to its fullest to make online travel booking experience even

 
         Jet Airways slumps 6% in morning trade on bourses    
 
 
NEW DELHI: Shares of Jet Airways today slumped nearly 6 per cent in morning trade on the bourses after reports surfaced that the company's financials are in bad shape and drastic measures need to be taken to cut costs. Shares of the company today opened on a weak note at Rs 324.80, then fell 5.72 per cent to a low of Rs 312.25 on BSE. Similar movement was seen on the NSE as well, where the stock of the company opened at Rs 323.90, then fell to a low of Rs 312.15, down 5.73 per cent ov

 
         Indian Bank revises interest rates on FCNR(B) deposits    
 
 
CHENNAI: Public sector Indian Bank has revised interest rates on foreign currency non-resident (banking) deposits with immediate effect. The revised interest rates for deposits of one year and above but less than two years in US dollar terms, have been fixed at 3.68 per cent as against 3.59 per cent, the city-headquartered bank said in a statement. For deposits of two years and above, but less than three years, the interest rates have been revised to 3.88 per cent from 3.77 per cent. Interest

 
         Considerable uncertainty around impact of MSP schemes, says RBI    
 
 
New Delhi: The Reserve Bank of India (RBI) Deputy Governor Viral Acharya on Wednesday said that the impact of MSP hike on projections is a challenging task. "Such an increase operates through multiple channels as there is a direct impact on the targeted food items. There could be impact on rural wages and then there could be generalization of all this through inflation expectations.

 
         CAG of India signs 28 UN Audit Reports    
 
 
New York: Comptroller and Auditor General of India Rajiv Mehrishi signed 28 UN Audit Reports at the United Nations Headquarters in New York.

 
         Samsung borrows from Chinese playbook in battle for India's smartphone market    
 
 
MUMBAI: Sometimes keeping ahead of the game means learning some tricks from rivals - a strategy Samsung Electronics Co Ltd hasn’t been too proud to adopt in India where Xiaomi Corp and other Chinese brands have made hefty inroads. Pages pulled from their playbooks include becoming savvier with online marketing to millennials as Samsung seeks to reinvent itself as a ‘younger brand’, as well as providing sales staff for smaller stores and even finding a new love for cricket with a sponsorshi

 
         Sensex, Nifty end lower after RBI raises key rates    
 
 
MUMBAI: Indian shares shed early gains to end lower on Wednesday, pulled down by financial and auto stocks, after the Reserve Bank of India raised interest rates for the second straight meeting. The RBI’s Monetary Policy Committee (MPC) raised the repo rate by 25 basis points to 6.50 percent. It is the first time since October 2013 that the rate has been increased at consecutive policy meetings. The reverse repo rate was also raised by 25 basis points to 6.25 percent. The benchmark BSE index

 
         RBI hikes repo rate by 25 basis points to 6.50%    
 
 
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday hiked the repo rate by 25 basis points to 6.50 per cent while maintaining neutral stance on the stability in the market. The six member Monetary Policy Committee (MPC) said that its decision is consistent with the neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 percent. The MPC added that the volatility in global financial markets continue

 
 
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