Sunday, December 31, 2017

Friday, December 22, 2017

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Monday, May 8, 2017

Police to probe allegation that Arvind Kejriwal accepted Rs 2 crore


Sacked Delhi minister Kapil Mishra alleged he was an "eyewitness" to colleague Satyendra Jain handing over Rs 2 crore to Kejriwal.A day after the Aam Aadmi Party dismissed sacked Delhi minister Kapil Mishra's allegations against Arvind Kejriwal of taking money as "baseless", the Delhi Lieutenant Governor Anil Baijal has forwarded the complaint to the Anti-Corruption Bureau.The ACB has been instructed to submit its report within seven days.
Kapil Mishra also said he would share all "evidence" in connection with the alleged water tanker scam, including that against two close aides of the chief minister, with the Anti-Corruption Branch on Monday.Mishra also claimed that a "few AAP members" have told him that Kejriwal has made up his mind to "sack (Health Minister) Satyendar Jain" by the coming Wednesday.In his earlier press conference, Mishra alleged he was an "eyewitness" to Jain handing over Rs 2 crore to Kejriwal.Mishra said he would be at the ACB office at 11 am on Monday.He questioned the "inaction" over a report submitted by him to Kejriwal in August 2015 on the alleged Rs 400 crore water tanker scam during the tenure of the Sheila Dikshit government.
India announce team for Champions Trophy, Shikhar and Shami return

Choosing between a third spinner and an extra batsman was expected to be the major topic of discussion as the other members were automatic selection. The fight was on whether the selectors would go for an extra batsman in Rahane or Pant or go for a third spinner behind Ashwin and Jadeja.No surprises in the Indian squad for the upcoming Champions Trophy with the selectors deciding to back the experienced Ajinkya Rahane over youngster Rishabh Pant. That was expected to be the only fight as the others picked themselves.Choosing between a third spinner and an extra batsman was expected to be the major topic of discussion as the other members were automatic selection. The fight was on whether the selectors would go for an extra batsman in Rahane or Pant or go for a third spinner behind Ashwin and Jadeja.

Wednesday, April 26, 2017

No plan to impose any tax on agricultural income: Jaitley

Finance Minister Arun Jaitley today said the government does not plan to impose any tax on agricultural income, dismissing the suggestion of NITI Aayog member Bibek Debroy.Finance Minister Arun Jaitley today said the government does not plan to impose any tax on agricultural income, dismissing the suggestion of NITI Aayog member Bibek Debroy."I categorically state that the Central government has no plan to impose any tax on agriculture income," he said in a tweet.
ABB, IBM team up on industrial artificial intelligence

In a joint statement ABB said it would combine its digital offering, which gathers information from machinery, with IBM's expertise in artificial intelligence featured in its Watson data analytics software. The two companies will jointly develop and sell new products.
ABB has sealed a collaboration agreement with International Business Machines Corp, the Swiss engineering company said on Tuesday, the latest step in its efforts to ramp up its presence in digital technology and the internet of things.In a joint statement ABB said it would combine its digital offering, which gathers information from machinery, with IBM's expertise in artificial intelligence featured in its Watson data analytics software. The two companies will jointly develop and sell new products."This powerful combination marks truly the next level of industrial technology, moving beyond current connected systems that simply gather data, to industrial operations and machines that use data to sense, analyse, optimise and take actions that drive greater uptime, speed and yield for industrial customers," ABB Chief Executive Ulrich Spiesshofer said in a statement
Samsung to update software over 'red screen' smartphone

The launch of the device is a key step for the South Korean tech firm as it seeks to move on from last year's humiliating withdrawal of the Galaxy Note 7 over exploding batteries, which hammered the firm's once-stellar reputation.Electronics giant Samsung will this week offer an unusually early software update for its newly- released Galaxy S8 phone, it said today after some consumers complained of red-tinted screens.The launch of the device is a key step for the South Korean tech firm as it seeks to move on from last year's humiliating withdrawal of the Galaxy Note 7 over exploding batteries, which hammered the firm's once-stellar reputation.
The Galaxy S8 started over-the-counter sales in the US and its home market but South Korean users who pre-ordered the phones complained their screens displayed an unusually reddish hue.Online images of their phones went viral on social media but Samsung denied a hardware flaw and maintained that users could manually adjust the colour range according to their preferences

Saturday, April 22, 2017

SIT issues second summons to former Goa CM in illegal mining case

The Special Investigation Team of the Goa Crime Branch has summoned former Chief Minister Digambar Kamat on Monday in connection with investigations into the illegal mining scam, after he skipped the summons earlier week.“Kamat has been asked to remain present before Special Investigation Team of Goa Crime Branch on Monday (April 24). He would be questioned in relation with the illegal mining activity which is being investigated by us," senior Crime Branch official told PTI today.This is the second summons issued to Kamat in connection with the case.The veteran Congressman, who is named in the FIR filed by the Crime Branch in the case, was summoned on Tuesday (April 18) but had failed to appear before it claiming to be out of station. He was first questioned in the case by the SIT in February 2014.
Currency with public declines slightly as ATMs run dry

According to the RBI data, there was a 4 percent increase in currency in the hands of the public at Rs 12.64 lakh crore as on March 31, as against a 7 percent rise a fortnight agoAs ATMs run out of cash, the pace of currency availability with the public slowed towards the end of March.
According to the RBI data, there was a 4 percent increase in currency in the hands of the public at Rs 12.64 lakh crore as on March 31, as against a 7 percent rise a fortnight ago at Rs 12.13 lakh crore as on March 17. The increase in the preceding two fortnights was 6.8 per cent and 8.5 percent.The currency with public was at a low of Rs 7.8 lakh crore in December, immediately after the cash ban, while it was at a peak of Rs 17.01 lakh crore as of October-end before demonetisation.Nearly five months since the Prime Minister Narendra Modi announced the sudden doing away of old Rs 500 and Rs 1000 rupee notes on November 9, there has been a gradual pickup in the cash in circulation in the economy, but now seems to be some liquidity crunch again in some regions of the country.

Thursday, April 20, 2017

SC allows NDMC to e-auction Taj Mansingh hotel

A bench comprising Justices P C Ghose and R F Nariman allowed the plea of New Delhi Municipal Council (NDMC) that the Tata Group firm cannot have the right to refusal in the auctioning of the hotel.The Supreme Court today allowed civic agency NDMC to e-auction five-star hotel Taj Mansingh, presently being run by Tata Group firm Indian Hotel Company Ltd (IHCL), in the heart of the national capital.A bench comprising Justices P C Ghose and R F Nariman allowed the plea of New Delhi Municipal Council (NDMC) that the Tata Group firm cannot have the right to refusal in the auctioning of the hotel.The bench, however, asked the civic body to grant six months "breathing time" to the company in vacating the hotel in case they lose out in the e-auction.The court also said that the "blemish-free" record of Tata Group firm IHCL may be taken into account by NDMC while auctioning the iconic property.The civic body had on March 3 told the apex court that it wants to e-auction the hotel.The court had earlier asked IHCL, which challenged a Delhi High Court order allowing auction of the hotel, to file objections, if any, within a week.
Panama Papers: Pakistan SC to decide Nawaz Sharif’s fate today

The case essentially seeks disqualification of 67-year-old Sharif over his alleged misstatement in his address to the nation on April 5 and his speech before the National Assembly on May 16, 2016.The Supreme Court in Pakistan will deliver its verdict in the high-profile Panama Papers case involving the country’s Prime Minster Nawaz Sharif and his family. Elections in Pakistan next year have increased the significance of the verdict for Sharif and his PML-N party.
The case essentially seeks disqualification of 67-year-old Sharif over his alleged misstatement in his address to the nation on April 5 and his speech before the National Assembly on May 16, 2016.Cricketer-turned-politician Imran Khan 
RBI to keep rates steady over the next 18 months: Poll

Earlier this month, the Reserve Bank of India raised a secondary rate while holding the key repo rate steady to mop up excess liquidity from the government's demonetisation drive, making it the fourth meeting in a row it has surprised markets.The Reserve Bank of India is expected to keep interest rates steady well into next year after it shifted to a neutral monetary policy stance in February, and despite having raised concerns over a potential spike in inflation, a Reuters poll found.Earlier this month, the Reserve Bank of India raised a secondary rate while holding the key repo rate steady to mop up excess liquidity from the government's demonetisation drive, making it the fourth meeting in a row it has surprised markets.
The median consensus in the poll of more than 35 economists, conducted between April 10-19, was for the policy repo rate to remain at 6.25 percent until the fourth quarter of 2018 at least, and the reverse repo rate at 6.00 percent."Inflation continues to be the biggest factor worrying the central bank.

Wednesday, April 19, 2017

Railways worst operating ratios in 2016-17 and 2000-01, both under BJP govts: Chidambaram

"Railways worst operating ratio in 2016-17. Previous worst in 2000-01. Both under BJP governments! Despite well- meaning minister. Problem of Railways is deeper. It cannot be run as a department of government," he said on Twitter.The problem of Indian Railways is deeper and it cannot be run as a government department, former Finance Minister P Chidambaram said today while criticising the BJP government for the public transporter reporting the "worst" operating ratio in the last fiscal."Railways worst operating ratio in 2016-17. Previous worst in 2000-01. Both under BJP governments! Despite well- meaning minister. Problem of Railways is deeper. It cannot be run as a department of government," he said on Twitter.An operating ratio indicates how much the railways spends to earn a rupee. An operating ratio of 94.9 per cent means that the railways is spending 94.9 paisa to earn 100 paisa (one rupee).
A lower figure of operating ratio is therefore regarded better and is indicative of better financial health of the system

Monday, April 17, 2017

Nepal president Bidya Devi Bhandari leaves for India

Nepal government has announced a public holiday today to mark her visit. As per custom, public holidays are announced in Nepal whenever the head of the state embarks on an official foreign visit.Nepal President Bidya Devi Bhandari left for India today on her first foreign visit, during which she will hold talks with the top Indian leadership to strengthen bilateral tiesShe left for New Delhi in a special Nepal Airlines flight from the Tribhuvan International Airport in Kathmandu.
Govt to divest 3-15% stakes in NTPC, NHPC, IOC, others; add Rs 35k cr to divestment kitty

Kicking off the divestment process for the current financial year, the government has cleared the sale of stakes in multiple state-owned companies.NLC India and 3 percent in via offer for sale
If the planned sale goes through, at current market prices, the government could end up achieving nearly 48 percent of its divestment target for the year. The highest amount would be contributed by NTPC at roughly Rs 13,300 crore, followed by IOC at Rs 6,200 crore and NHPC at around Rs 4,000 crore.To maintain its fiscal deficit target of 3.2 percent, the government had set out with an ambitious divestment target of Rs 72,500 crore for FY18. The target was to be achieved via minority stake sale totalling Rs 46,500 crore, strategic stake sales worth nearly Rs 15,000 crore, and listing of various insurance companies to add Rs 11,000.
Railways to export locos, train sets worth Rs 680 cr to Sri Lanka

Rail India Technical and Economic Service (RITES), a railways PSU, has secured its largest export order from Sri Lanka Railways for the supply of 10 broad gauge diesel locomotives and six DMU (diesel multiple units) train sets.Indian Railways will supply modern locomotives and train sets worth Rs 680 crore to Sri Lanka, in the largest export order for the public transporter.
Rail India Technical and Economic Service (RITES), a railways PSU, has secured its largest export order from Sri Lanka Railways for the supply of 10 broad gauge diesel locomotives and six DMU (diesel multiple units) train sets.DMU train sets do not require separate locomotive as the engines are incorporated into one or more of its coachesAll locomotives and train sets would be equipped with state-of-the-art technology and manufactured in Varanasi and Chennai, said a senior Railway Ministry official.

Saturday, April 15, 2017

3 suspected RAW agents arrested in PoK:

The masked suspects were produced before the media during a briefing in cv, Dawn newspaper reported.Police in Pakistan-occupied Kashmir have claimed that they have arrested three suspected RAW agents for their alleged involvement in anti-state activities, according to a media report on Saturday.The masked suspects were produced before the media during a briefing in cv, Dawn newspaper reported.
Lucky Grahak: Mobile EMI fetches Rs 1-crore bonanza for student

Mengshette, a second year student of Electrical Engineering from Latur district in Maharashtra, received the cash prize from Prime Minister Narendra Modi at a function in Nagpur today.An EMI payment of Rs 1,590 for a newly bought mobile phone has earned a mega lottery of Rs 1 crore for 20 year-old engineering student Shradha Mohan Mengshette under the government's Lucky Grahak Yojana.Mengshette, a second year student of Electrical Engineering from Latur district in Maharashtra, received the cash prize from Prime Minister Narendra Modi at a function in Nagpur today.She won the mega prize for making a transaction of Rs 1,590 through her Rupay card online.

Thursday, April 13, 2017

Volvo Auto India hikes prices across model range by up to Rs 2.5 Lakh

"All the models would undergo an upward revision in the Ex-showroom prices by up to 2.5%. The increase is due to rise in input costs which affect all models sold in India. Volvo Cars focus has always been to provide the best-in-class products to our customers at a competitive price with class-leading safety and intuitive features offered as standard across models." the company said in a statement.
Avenue Supermarts m-cap surges past Rs 50,000 cr mark

The scrip of newly-listed firm gained 3.33 percent to end at Rs 775.50 on BSE. During the day, it soared 7.5 percent to Rs 806.80./fmcg_consumerdurables_720-770x433.jpg" title="Avenue Supermarts m-cap surges past Rs50,000 cr mark", the operator of retail chain D-Mart, rose by 7.5 percent in intra-day trade today, helping its market valuation surge past Rs 50,000 crore mark.The scrip of newly-listed firm gained 3.33 percent to end at Rs 775.50 on BSE. During the day, it soared 7.5 percent to Rs 806.80.At intra-day high level, the company's market valuation rose to Rs 50,351 crore but later pared some of the gains and its m-cap stood at Rs 48,397.75 crore at close.On NSE, shares of the company jumped 3 percent to settle at Rs 774.10.In terms of volume, 26 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.
March CPI inflation makes August rate cut case stronger: BofAML
 
According to the global financial services major, inflation risks are overdone and noted that food inflation is coming off while El Nino is a swing factor and commodity prices are likely to stabilise in 2017, reducing the pressure on imported inflation.CPI inflation is well within the RBI's 2-6 per cent mandate and the March number makes the case for a 25 bps rate cut in August even stronger, says a Bank of America Merrill Lynch (BofAML) report."We continue to expect the RBI MPC to cut policy rates 25 bps on August 3 after CPI inflation came in at a weak 3.8 per cent for March and industrial production contracted by 1.2 per cent for February," BofAML said in a research note.According to the global financial services major, inflation risks are overdone and noted that food inflation is coming off while El Nino is a swing factor and commodity prices are likely to stabilise in 2017, reducing the pressure on imported inflation.

Wednesday, April 12, 2017

Portfolio managers' assets up 18% to Rs 12.30 lakh cr in FY17

This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).
The assets handled by portfolio managers have surged by a staggering Rs 1.85 lakh crore to Rs 12.30 lakh crore at the end of the past fiscal, mainly on the back of increase in number of clients.This also marks the sixth consecutive yearly rise in assets base of portfolio managers. Data prior to this period are not available with the Securities and Exchange Board of India (Sebi).A portfolio manager is a body corporate who advises or directs or undertakes on behalf of the client, the management of a portfolio of securities or the funds of the client.
Tightening H1B visa norms a blessing in disguise for IT firms: Mohandas Pai


The present business model of Indian IT companies -- offshore-onsite work ratio of 70:30 would now go up to 90:10, the former Chief Financial Officer of Infosys said.The tightening of H1-B work visa rules in the US would be advantageous to Indian IT firms as they would shift more work offshore and also be in a position to improve their billing rate, says industry veteran T V Mohandas Pai.The present business model of Indian IT companies offshore-onsite work ratio of 70:30 would now go up to 90:10, the former Chief Financial Office."So, what will happen is they (Indian IT firms) will offshore more work and increase their competitiveness. They will do only ten percent work onsite, and 90 percent offshore," Pai told PTI."It can be done very easily for 70-80 percent of the business. It will improve their competitiveness and make them better," he said."The new H1-B regulations are very good for Indian IT, and bad for companies which try to use it for cheap labour. First of all, Indian IT is not cheap because what they bill to clients is USD 125,000 to USD 150,000 per year (for an onsite employee)," he said."The average pay is around USD 80,000-85,000 per year. They are unnecessarily getting a bad name, because some fly-by-night operators are trying to do body-shopping and spoil the name of the entire (Indian IT) industry," he said.The new regulations would play to the strength Indian IT companies because they have been reducing the number of H1-B visas they collected since 2014,

Monday, April 10, 2017

Demonetisation has given an extra boost towards digital finance: NITI Aayog
 
"If you look at the RBI (Reserve Bank of India) data on use of digital payments, there is a sharp rise in immediate aftermath of demonetisation. Now the figure has moderated a little" Nayyar said at MoneyTech, 2017.The government's massive currency culling exercise in November has given "extra boost" towards the movement of digital finance, Dhiraj Nayyar Officer on Special Duty and Head of Economics, Finance and Commerce at NITI Aayog said today."If you look at the RBI (Reserve Bank of India) data on use of digital payments, there is a sharp rise in the immediate aftermath of demonetisation. 
Alleged EVM tampering: Opposition parties to meet EC

The opposition leaders are demanding that VVPAT (paper trail of voting) be introduced in all future elections. The Congress has also been pushing for use of ballot papers instead of EVMs in upcoming elections in view of the alleged tampering.Opposition parties today decided to take up unitedly with the EC the issue of alleged EVM tampering in elections held in various states recently. Leaders of various opposition parties today met in Parliament and decided to jointly meet the Election Commission, demanding that their concerns on the issue be addressed.The opposition leaders are demanding that VVPAT (paper trail of voting) be introduced in all future elections. 

Saturday, April 8, 2017

AIADMK factions using 'two leaves' symbol: EC not impressed

The Commission conveyed its "displeasure" to the V K Sasikala and O Panneerselvam factions and advised them not to repeat "such acts" in future.The warring factions of the AIADMK today faced the ire of the Election Commission for using the "two leaves" symbol of the party frozen by it.The Commission conveyed its "displeasure" to the V K Sasikala and O Panneerselvam factions and advised them not to repeat "such acts" in future.Recently, the Commission had frozen the AIADMK and its party symbol "two leaves" through an interim order following dispute between the two factions.As per the interim order, the two sides cannot use the name AIADMK or its poll symbol for the April 12 R K Nagar assembly bypoll which was necessitated due to the demise of J Jayalalithaa.It had allocated the party symbol "Hat" to All India Anna Dravid Munnetra Khazagam -- AIADMK (Amma). The other faction named All India Anna Dravid Munnetra Khazagam -- AIADMK (Puratchi Thalaivi Amma), was allotted the symbol "Electric Pole".
BJP confident of winning Meghalaya Assembly polls in 2018

BJP national vice president Avinash Rai Khanna today expressed optimism that his party will form a government in Meghalaya in 2018.BJP national vice president Avinash Rai Khanna on Friday expressed optimism that his party will form a government in Meghalaya in 2018.
"We will definitely form a new government in the state and for this, the policies of the Centre has to reach the grass root level," Khanna said while addressing BJP state leaders and party workers and urged party workers to start spreading the word about the good governance the Centre was doing under the leadership of Prime Minister Narendra Modi.On the recent violent incidents in the name of cow vigilantism, the BJP leader later on told reporters that nobody has the right to take law in their own hands.

Friday, April 7, 2017

Soybean prices to trade sideways today: Angel Commodities

According to Angel Commodities, Soybean April futures closed lower continues its range bound trade as demand and supply seems to be in balance.Soybean April futures closed lower continues its range bound trade as demand and supply seems to be in balance. The mills have procured large volumes of soybean earlier in the season at lower levels which helps in more competitive prices of meals for record exports. The supplies have been decreased drastically last week compared to previous week so as the demand. As per Agmarknet, arrivals of soybean during Mar 27 - Apr 1 were about 32,514 tonnes Vs 90,767 tonnes during previous week. CBOT soybean futures closed lower on Thursday due to profit booking after prices have rebound on fears of harvest delays in Argentina, along with China's return to the market after a holiday.  The soybean market is notably anticipating record production in Brazil which could dominate export trade in coming months and reduce U.S. export sales. As per USDA, net sales of 482,000 tonnes for 2016/2017 were down 29 % from the previous week and 11% from the prior 4 - week average.We expect Soybean prices to trade sideways on expectation of lower level buying and  good crushing demand.The views and investment tips expressed by investment experts/broking house strating agencies on  are their own, and not that of the website or its management.  advises users to check with certified experts before taking any investment decision

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UP to implement new industrial investment policy soon: Yogi Adityanath

 "The state government will solve problems pertaining to state entrepreneurs on priority. To attract investment and ensure establishment of industries a new industrial investment policy will be implemented soon", the CM said while addressing officers during presentation of Infrastructure and Industrial development department here yesterday.With a view to attract investors and establish industries in the state, Uttar Pradesh Chief Minister Yogi Adityanath has said it will soon implement new industrial investment policy."

The state government will solve problems pertaining to state entrepreneurs on priority. To attract investment and ensure establishment of industries a new industrial investment policy will be implemented soon", the CM said while addressing officers during presentation of Infrastructure and Industrial development department here yesterday"Single window system will be adopted to solve problems of investors. Land acquisition for Establishment of new industries should be done by taking farmers in confidence," he added.Emphasising on simplifying norms, the CM said rules and procedures should be simple and transparent, so that necessary clearance should be given in less time for setting up of industries.

Asking officers to work seriously on industrial development, the CM said it was necessary to "make atmosphere of investment in the state".On former Chief Minister Akhilesh Yadav's dream project Agra-Lucknow expressway, Yogi said the remaining work on this expressway should be completed by May, and work on Purvanchal Expressway should be carried forward.The CM asked officers to work on construction of airports at Agra, Jewar in Gautam Buddha Nagar, and decide on this to proceed further with the Centre.The CM also asked officers to see whether sick and closed units could again be started and made profitable. 

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Panel favours FY from January 1; govt examining recommendation

 Replying to questions in the Lok Sabha, he said disclosing the recommendations of the committee and the prima facie view of the government on it at this stage would be unfair as it may amount to pre-judging the issue.The government is examining the report of a committee which has recommended change in the financial year starting April 1, Finance Minister Arun Jaitley said today.Replying to questions in the Lok Sabha, he said disclosing the recommendations of the committee and the prima facie view of the government on it at this stage would be unfair as it may amount to pre-judging the issue.The committee is learnt to have recommended advancing the financial year and equating it with the calendar year from January Responding to supplementaries during Question Hour, he said since the move has various implications for the Centre, the states and various local bodies, it is necessary to have have wider consultations before arriving at a conclusion
Fight against corruption and black money will continue: Modi

Prime Minister Narendra Modi today said the fight against corruption and black money will continue.Prime Minister Narendra Modi today said the fight against corruption and black money will continue."Corruption and black money have destroyed the Indian democracy, eating into it like a termite. But due to your blessings, the fight against corruption and black money will continue," Modi said.During his interaction with some youths, the Prime Minister said the new generation wants to work with honesty and it is a good indication.Pointing out that it would be 75 years in 2022 since India got the Independence, Modi said if every person in the country takes a step ahead in all these five years, then the country would move at least 125 crore steps forward towards development.

Thursday, April 6, 2017

Cash transactions proposed to be capped at Rs 2 lakh

Earlier, while presenting the Budget on February 1, Finance Minister Arun Jaitley had proposed the cap to be Rs 3 lakh with effect from AprilThe government on Tuesday moved a fresh proposal to cap cash transactions at Rs 2 lakh instead of Rs 3 lakh as provided in the Budget, as it introduced as many as 40 amendments to the Finance Bill in an "unprecedented move".
As the Finance Bill was taken up for consideration in the Lok Sabha, opposition parties like TMC, BJD and RSP protested against the introduction of the amendments to 40 Acts, saying it was being done in the form of "back-door entry"The amendments to the laws like Companies Act, Employees Provident Fund, Smuggling and Foreign Exchange Act, TRAI Act and Information Technology Act, have been moved with an aim of making the functioning of tribunals more efficient by merging the smaller ones and reducing their numbers from 40 to 12.
The objections by the opposition parties were overruled by Speaker Sumitra Mahajan who ruled that the 'incidental provisions' involved in the amendments constitute a 'Money Bill' and therefore can be considered as part of the FinanceBill.Among the amendments made to the Finance Bill was a provision to cap cash transaction at Rs 2 lakh.
India seeks investment from Aramco

 Abu Dhabi co in refinery, petchem projectIndia plans to set up a 60 million tonnes per annum (mtpa) coastal refinery in Maharashtra. Petroleum Minister Dharmendra Pradhan had last year said the government was keen to have foreign investment in the project.India is talking to Saudi Aramco and Abu Dhabi National Oil Company to invest here in refinery and petrochemical projects, Minister of Petroleum and Natural Gas Dharmendra Pradhan said on Thursday."We are talking to Aramco for a mega refinery project," Pradhan said when asked what kind of projects the global oil and gas majors were interested in. He was talking to reporters on the sidelines of Network18's Global Natural Resources Conclave.India plans to set up a 60 million tonnes per annum (mtpa) coastal refinery in Maharashtra. Pradhan had last year said the government was keen to have foreign investment in the project.He also said the government would soon start the second round of auction of discovered small fields.The government has so far awarded 31 'contract areas' under its 2016 auction of discovered small and marginal oil and gas fields that were surrendered 

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Wednesday, April 5, 2017

Railways get tough with food contractors violating norms

In its endeavour to provide quality and hygienic food to passengers, railways have developed and operationalised an institutionalised mechanism for monitoring of quality and hygiene of catering services through regular inspections at various levels to address catering complaints.Cracking down on errant caterers, railways have terminated a food contract and blacklisted 16 contractors besides collecting a fine of Rs 1.8 crore in 2,108 cases related to food complaints in the last one yearIn its endeavour to provide quality and hygienic food to passengers, railways have developed and operationalised an institutionalised mechanism for monitoring of quality and hygiene of catering services through regular inspections at various levels to address catering complaints
New industrial policy for UP soon; Cabinet sets up GoM


At the first cabinet meeting presided over by Chief Minister Yogi Adityanath, it was decided to set up a five- member group of ministers led by deputy chief minister Dinesh Sharma for studying industrial policies of other states so as to formulate the state's own policy for boosting investment, senior ministers Siddharth Nath Singh and Srikant Sharma said.New industrial policy for UP soon; Cabinet sets upThe Uttar Pradesh government decided to formulate a new industrial policy to attract more investment with a view to generating jobs in the state.At the first cabinet meeting presided over by Chief Minister Yogi Adityanath, it was decided to set up a five- member group of ministers led by deputy chief minister Dinesh Sharma for studying industrial policies of other states so as to formulate the state's own policy for boosting investment, senior ministers Siddharth Nath Singh and Srikant Sharma said.The GoM will visit other states and study the policies of Gujarat and Madhya Pradesh, among others, for preparing a policy to improve investments through single window system, they told media persons after the 90-minute meeting of the cabinet.
Artson Engineering, Nila Infrastructures up 4-7

Artson Engineering, Nila Infrastructures up 4-7% on order winNila Infrastructures has received work order from AMC towards construction of D.K. Patel hall at AhmedabadNila Infrastructures rose more than 4 percent and 7 percent intraday Wednesday on order win.Artson Engineering has received a contract of approximately Rs 12.50 crore from Tata Projects for the piping and mechanical works in the state of Maharashtra, India.Nila Infrastructures has received work order from AMC towards construction of D.K. Patel hall at Ahmedabad.With this company forays into yet another activity within Civic Urban Infrastructure.The project involves built up constriction of about 6000 square meters and shall be completed within 24 months at an envisaged cost of Rs 155.7 million.At 10:31 hrs Nila Infrastructures was quoting at Rs 18.05, up Rs 0.80, or 4.64 percent and Artson Engineering was quoting at Rs 50.40, up Rs 0.55, or 1.10 percent on the BSE

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Friday, March 31, 2017

IIT Jammu, IIM Vizag get maximum funds from govt

The government has disbursed Rs 258.54 crore of funds to new IITs and Rs 133.65 crore for new IIMs.Six new Indian Institutes of Technology (IITs) and seven new Indian Institutes of Management (IIMs) had been announced in the Budgets of 2014-15 and 2015-16. While they are yet to get their permanent campuses, the government has disbursed Rs 258.54 crore of funds to new IITs and Rs 133.65 crore for new IIMs.Of this, IIT Jammu received Rs 69.34 crore from the Ministry of Human Resource Development (HRD) while IIM Vishakhapatnam received Rs 29.63 crore from MHRD. However, institute officials said that they will function in their full student strength once the campuses are constructed.We are operating from a temporary location. Once the full campus is ready, the new IITs will be able to offer multiple undergraduate as well as postgraduate courses," said an associate professor at one of the new IITs.Similarly, the newer IIMs will have to build the brand reputation so that during the placement process, top recruiters are able to visit the campus
Govt notifies simplified ITR; e-filing to start from tomorrow

The government today notified a simplified Income Tax Return form for individuals which will be available for filing ITR for Assessment Year 2017-18 from tomorrow.Currently, SAHAJ (ITR 1) is filed by salaried employees and ITR 2 by individuals and HUFs whose income does not include income from business.The government has done away with two forms ITR 2A (used by individuals & HUFs not having income from business or profession and capital gains and who do not hold foreign assets).Only 6 crore out of 29 crore persons holding permanent account number (PAN) file income tax returns at present. 
Companies spend Rs 476 cr under Swachh Bharat Kosh as CSR initiative

Under the Companies Act, 2013, a certain class of profitable companies is required to spend at least 2 per cent of their three-year annual average net profit towards CSR works in a fiscal. The norm came into effect on April 1, 2014Companies spent about Rs 476 crore towards 'Swachh Bharat Kosh' as part of their corporate social responsibility (CSR) in two years, Parliament was informed today.In addition, companies spent a total of Rs 21 crore towards Clean Ganga Fund in 2014-15 and 2015-16.

Tuesday, March 28, 2017

'Trump administration may approve major export of natural gas to India'

No decision yet has been taken on Trump administration's commitment to the Paris Agreement on climate change. And same is the case with the various co-cooperation that the US has been doing with other countries including India on clean energy and climate change issues, the official said on condition of anonymity.trump administration is expected to give its consent for major export of natural gas to energy-hungry India, a senior US official has said, underling that energy sector is likely to be a major area of bilateral co-operation."Watch for it," the official said. His comments came as US President Donald Trump is set to sign an executive order to wipe out his predecessor Barack Obama's climate change legacy.
This Indian woman is shattering the glass ceiling for celebrity pay

PV Sindhu gets an endorsement fee of up to 12.5 million rupees (about $192,000) a day, according to her agent— that haul is second only to cricket captain Virat Kohli. Last week, Gatorade named Sindhu its first brand ambassador from India, and on Monday she took the stage at a news event for Panasonic."This Indian woman is shattering the glass ceiling for celebrity pay"India's silver medalist in badminton at the Rio Olympics, 21-year-old PV Sindhu, has become the country's second-highest-paid sports celebrity for endorsements.PV Sindhu gets an endorsement fee of up to 12.5 million rupees (about $192,000) a day, according to her agent— that haul is second only to cricket captain Virat Kohli. Last week, Gatorade named Sindhu its first brand ambassador from India, and on Monday she took the stage at a news event for Panasonic.achievements come in a nation obsessed with just one sport, men's cricket, and it's against the backdrop of consistently lower pay for women in India and globally. (The gender pay gap in India across all sectors is a gaping 25 percent, according to the 2016 Monster Salary Index.)Sindhu went to Rio with no sponsorship deals, but she came back with a medal and a star status that will be difficult to beat.

Monday, March 27, 2017

Snapchat' top-searched app on App Store

According to a report in Forbes magazine, Snapchat led all competitors in App Store search volume and as a result, Snapchat was also the app people were looking for most frequentlyAlthough Snap's stock price was a bit down this week, Snapchat is the top searched app on the iOS App Store,
Shiv Sena rakes up Ravindra Gaikwad's flight ban in house

Shiv Sena has raked up the ban flight ban imposed on it's MP Ravindra Gaikwad by various Indian airlines for assaulting an Air India staffer in Parliament Shiv Sena has raked up the ban flight ban imposed on it' MP Ravindra Gaikwad by various Indian airlines for assaulting an Air India staffer in Parliament.earlier, Finance Minister Arun Jaitley on Monday introduced Inter-state goods bill in Parliament. Congress has opposed the move, saying that sufficient notice given to them was not given to them before the government introduced the bill

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Thursday, March 23, 2017

PM Narendra Modi just undertook a major political shift"

Prime Minister Narendra Modi's controversial decision to install a rabble-rouser as leader of India's most populous state may signal a new direction in his policy platform and potentially sow seeds of religious tension.Following an impressive victory in recent state elections, Modi's ruling faction — the Bharatiya Janata Party (BJP) — named Yogi Adityanath as Uttar Pradesh chief minister on Sunday. A 44-year old priest, Adityanath is a well-known figure of Hindutva, a right-wing ideology that champions Hindu nationalism.In the past, he's made numerous remarks perceived as hateful towards minority religions in the Hindu-majority nation. He's asked Indian Muslims to leave the country, recently praised President Donald Trump's travel ban on certain Muslim-majority countries, and suggested that minorities were to blame for communal riots. Last year, he claimed Mother Teresa was part of a conspiracy to Christianize India.
After IT, fear of layoffs hits telecom space; 10,000 jobs at risk"

With many telecom companies joining hands to beat competition and cut costs, some industry employees are having restless nights out of fear they may lose their jobs.A Hindu BusinessLine today quoting industry sources, says that thanks to the spate of consolidation recently, as many as 10,000 employees may lose their jobs over the next year.A large merger, such as the one announced between Idea and Vodafone earlier this week, tends to many job roles redundant at participating companies due to duplication.“Some departments may have surplus employees. Jobs like telecallers or ground-fleet salesmen would be too many in number and a good portion of them might have to be let go,” Dinesh Goel, Co-Founder CEOTelecom companies are generally bottom heavy with a lot of entry level staff for sales and back office operations, he added.Other support teams like finance and legal may also see surplus of employees, which will result in layoffs.Companies that are coming together
FEATURE- With automation threat looming, IT cos ramp up reskilling. 

But is it enough?As need for manpower continues to shrink for traditional application and maintenance business, IT companies are reskilling their million-strong workforce in newer technologies. Developers today need to focus on full-stack programming rather than specialize in a particular technology. Full stack programmers can work on both front end and back end tech, including design.India’s USD 154-billion technology industry is in the midst of its biggest transformation ever, as automation disrupts delivery models.  With clients asking outsourcing majors to bring down the costs year-on-year for the traditional application and maintenance business, vendors have no choice but to automate processes, which threaten to make 30-40 percent of existing workforce redundantAs need for manpower continues to shrink for traditional application and maintenance business, IT companies are reskilling their million-strong workforce in newer technologies. Developers today need to focus on full-stack programming rather than specialise in a particular technology. 

Wednesday, March 22, 2017

Musafir.com launches technology centre in Pune"

UAE-headquartered online travel firm Musafir.com today launched a technology centre in Pune as the company plans to double the strength of its tech team globally to over 100 by the year-end.The company's Pune centre will complement the technology and product teams that are already operating out of centres in Mumbai and UAE, Musafir.com said.The company currently has around 50 people in it's technology team in the three centres.Commenting on the development, Musafir.com Co-founder and CTO Albert Dias said: "Musafir.com was founded with the promise of a stellar user experience backed by the best technology".The establishment of the company's third technology centre in Pune reinforces our commitment to this promise, he added.
Electric vehicle development loses spark as consortium members decide to go solo"

India’s ambitious plan to build a consortium for electric mobility solutions has failed even before hitting the road. The five members in the group working on the project to jointly develop critical hardware for all-electric or hybrid vehicles have decided to go their own way.Mahindra and Ford were jointly working on the project.When asked by if the electric vehicle development consortium had achieved any breakthrough, CV Raman, Executive Director (Engineering), Maruti Suzuki India said: “There is no movement on that front.”The open-ended technical alliance entailed an investment of Rs 22-25 crore with the government to invest an equal amount under the faster adoption and manufacturing of hybrid and electric (FAME) vehicles.
Motor, transmission and batteries are the hardware part of an electric vehicle. However, the software is equally crucial as it the controls vehicle's critical systems like motor and battery. Hybrid or electric vehicles make use of on-board computers to distribute the right amount of power to the vehicle.
India tries to fix Iran trade payments as Trump hardens line"

India is exploring setting up a new payments mechanism for trade with Iran, after its old sanctions workaround broke down, as state banks remain fearful of handling payments from Tehran in case the United States imposes a fresh financial embargo.US President Donald Trump has denounced an agreement between Iran and major powers on its nuclear programme as a bad deal, and his administration has put Tehran "on notice" after the test-firing of a ballistic missile.Under previous Western sanctions, India had devised a barter-like scheme acceptable to Washington that allowed it to make some oil payments to Tehran in rupees through a small state bank,Indian companies were then able to receive payments for goods exported to Iran using the oil money held in non-convertible rupee balances at UCO, maintaining a trade lifeline between two countries with long historical ties.

Tuesday, March 21, 2017

Airtel's 'fastest network' claim misleading: Jio to ASCI

 Telecom operator Reliance Jio has approached advertisement sector watchdog ASCI against Bharti Airtel saying the latter's claim of being "officially the fastest network" is "misleading" and done in "mala fide manner in collusion with" broadband speed tester Ookla.Telecom operator Reliance Jio has approached advertisement sector watchdog ASCI against Bharti Airtel saying the latter's claim of being "officially the fastest network" is "misleading" and done in "mala fide manner in collusion with" broadband speed tester Ookla."The claim of Airtel that it is India's fastest network is false, misleading and incorrect. This claim is being made by Airtel acting in a mala fide manner in collusion with Ookla, LLC," Jio said in its complaint filed before The Advertising Standards Council of India (ASCI)When contacted, Airtel spokesperson said Airtel has been rated as India's fastest mobile network by Ookla - the global leader in broadband testing and web-based network diagnostic applications."This is clearly mentioned in the ad. Ookla's findings are based on analysis of millions of internet speed tests logged on 'modern devices' by mobile customers across India using its popular Speedtest app. 
Note ban to affect NBFC collections in short term: Moody's"

Moody's Investors Service today said non banking financial companies (NBFCs) will demonstrate broadly stable asset quality, but delinquencies could rise over the next 1-2 quarters as demonetisation adversely affects collections across asset classes.It said the growth in loans against property has outpaced overall retail credit growth in recent years, but relatively loose underwriting practices, combined with intensifying competition, will translate into higher asset quality risk for this segment."NBFCs in India will demonstrate broadly stable asset quality, but delinquencies will likely rise over the next 1-2 quarters, as demonetisation adversely affects collections across asset classes," Moody's said in a statement.Over the past three years, NBFCs have gained some market share in the origination of retail lending, on the back of faster growth exhibited by such entities when compared to the banks.This is particularly the case when compared to public sector banks, which face significant challenges on their asset quality and overall solvency profiles, it said."Nevertheless, we expect that competitive pressures from the banking sector will remain intense as banks are increasing targeting of the retail segment to offset weakness in their corporate lending
No import of food items with less than 60% shelf life

Imported food items with less than 60 percent of shelf life left will not be allowed to enter Indian market as per the new regulations issued by regulator FSSAI.The Food Safety and Standards Authority of India (FSSAI) has notified the Food Safety and Standards (Import) Regulation 2017, making it mandatory for importers to obtain its license."We are happy that FSSAI has been able to finalise the regulations for imports of food items. This will bring an end to all uncertainties regarding food imports into the country," FSSAI CEO Pawan Kumar Agarwal told PTI.In the new regulations, which was notified earlier this month, the FSSAI said: "No article of food shall be cleared from the customs unless it has a valid shelf life of not less than 60 percent at the time of import".Shelf life means the period between the date of manufacture and the 'Best Before' or 'Date of expiry', whichever is earlier as printed on the label, FSSAI said.It specified that no person shall import any food article without an import license from the Central Licensing Authority in accordance with the provisions of the Food Safety and Standards (Licensing and Registration of Food Businesses) Regulations, 2011.FSSAI said it has brought the regulation with an aim to streamline the process of clearance of imported food in an efficient and transparent manner.

Monday, March 20, 2017

PM Modi favourite for 2019 Lok Sabha elections, say US political experts"

 Prime Minister Narendra Modi has emerged as a clear favourite for the 2019 general elections after the BJP's landslide victory in assembly elections in Uttar Pradesh and Uttarakhand, top US experts on India have said.While one of the experts noted that the electoral results of the just concluded Assembly polls in five states show that the 2014 Lok Sabha election results were not an aberration, another noted that Modi would continue to lead India after 2019.The Assembly elections do not signal much of a change. The Uttar Pradesh election results showed that the 2014 general elections were not an "aberration". Same is the case with Punjab, Adam Ziegfeld, Assistant Professor of Political Science and International Affairs at the George Washington University said.Modi has been established by this election as the "clear and favourite winner" for the 2019 elections, Sadanand Dhume, a resident fellow at the American Enterprise Institute said."Modi is the front runner (for 2019)," he said.Irfan Nooruddin, a professor at the Walsh School of Foreign Service at the Georgetown University predicted that in 2019, the BJP is unlikely to get a simple majority and Modi would rather be heading a coalition government.
Sole mission & motive is UP's development: PM on Yogi government

 As the Yogi Adityanath-led government took over in Uttar Pradesh, Prime Minister Narendra Modi today said the "sole mission and motive is development" of the state, in an apparent bid to allay apprehensions over the hardline Hindutva mascot becoming the Chief MinisterSole mission & motive is UP's development: PM on Yogi governmenAs the Yogi Adityanath-led government took over in Uttar Pradesh, Prime Minister Narendra Modi today said the "sole mission and motive is development" of the state, in an apparent bid to allay apprehensions over the hardline Hindutva mascot becoming the Chief Minister.Modi, while noting that BJP had formed the government in four out of five states that went to the polls recently, said, "Our unwavering efforts to create a 'Bhavya' (great) & 'Divya' (brilliant) Bharat (India) continue. India's Jan Shakti is powering the rise of a new transformed India.
Sebi to enlist resource persons to spread financial literacy

Markets regulator Sebi has decided to empanel 'resource persons' to help spread financial Sebi to enlist resource persons to spread financial literacy" Markets regulator Sebi has decided to empanel 'resource persons' to help spread financial literacy in select districts.The Securities and Exchange Board of India (Sebi) will empanel financial education resource persons (RPs) on part-time basis for various districts in Uttar Pradesh, Haryana, Punjab, Jammu and Kashmir, Himachal Pradesh and Uttarakhand.he individuals will be part of the financial education efforts of the regulator for the districts where it does not have any financial education resource person and/or where there is deficiency of RPs.Sebi has invited applications from interested candidates by February 28."This empanelment is not a full-time job but an exercise to enlist experienced persons having good communication skills, including effective presentation ability and passion for social work along with knowledge of computer/net to spread message of importance of financial literacy among masses in their identified area of operations,"
Telecom minister Manoj Sinha says he's not in running for UP CM post

BJP sources say that Sinha is a front runner because he is an ‘Ajatshatru’ – a man without enemies.Telecom minister Manoj Sinha says he's not in running for UP CM post"Widely considered the favourite, Union Telecom Minister Manoj Sinha said on Friday afternoon that he wasn’t in the race to become Uttar Pradesh chief minister.Sinha's remarks come a day before the Bharatiya Janata Party, which managed a three-fourths majority in the UP Assembly elections, holds a legislature party meeting on Saturday to zero in on a chief ministerial pick.Sinha, a three-time parliamentarian who represents Ghazipur in the Lok Sabha, told reporters outside Parliament that he is not in the race for chief minister nor does he know about any such race.Tipped by many to be the next chief minister, Sinha is a man without enemies.In 2014, a local BJP worker in Ghazipur opened a dhaba on the outskirts of the city. He invited Manoj Sinha, the local MP, to inaugurate the dhaba but did not expect him to turn up. Sinha was, after all, a Union Minister by this point. To the worker’s surprise, Sinha made it for the inauguration. This “connect” with his constituents is not uncharacteristic of Sinha.At least till late last year, he spent most weekends in his native Ghazipur. 

Tuesday, March 14, 2017

SpiceJet will shortly foray into

 India’s highly competitive retail space with plans to set up a string of physical stores, online e-tail gateways, and in flight merchandise, selling a range of consumer goods from fashion products, gadgets and electronic items to, eventually, food.The company will sell its own brand of products sourced from hundreds of vendors across the country and overseas, top sources, who did not wish to be identified,A special line of brands have been created for each product category under the umbrella “Spice” brand, which the company is currently finalising.A separate subsidiary of airline’s holding company is being created for the retail venture, which will be run by a completely different team maintaining arm’s length distance with the airline’s operations, sources indicated.A formal announcement on the retail venture is expected within a month.A company spokesperson declined to comment for this story.

Friday, March 10, 2017

Paytm rolls back 2% levy on credit card recharge

 In a u-turn to Thursday’s decision, e-wallet company Paytm rolled back its 2 percent charge on credit card transactions used for recharging the wallet. Paytm rolls back 2% levy on credit card recharge In a u-turn on Thursday’s decision, e-wallet company Paytm rolled back its 2 percent charge on credit card transactions used for recharging the wallet. The company said it has been done for customers’ convenience. It said: “Keeping the millions of customers and merchants interest as utmost priority, we have decided to suspend the 2 percent fees and will continue to build a series of features to curb such misuse.

India Home up 6% on MOU with Surat Urban Development Authority 

 "India Home Loan has entered into memorandum of understanding (MOU) with Surat Urban Development Authority (SUDA) for facilitating housing loans to borrowers in Surat," the company said in its filing. Shares of India Home Loan gained nearly 6 percent intraday Friday after signing agreement with SUDA for providing housing loans. "India Home Loan has entered into memorandum of understanding (MOU) with Surat Urban Development Authority (SUDA) for facilitating housing loans to borrowers in Surat," the company said in its filing.
Pollsters predict a clear BJP win in UP, AAP-Cong faceoff in Punjab



 Pollsters have fairly written off the possibility of other political parties coming to power in Uttar Pradesh. But remember exit polls predictions come with a warning — they may be proven wrong. Final results will be declared on Saturday after all the votes are counted.After a high-intensity election battle for over two months, an aggregate of exit polls released on Thursday have predicted the BJP cruising through in Uttar Pradesh. While Aam Aadmi Party (AAP) is in pole position in Punjab, it has a wafer-thin lead over the Congress. BJP is seen snatching the rule from the Congress in Uttarakhand. In Goa, BJP is likely to come up trumps with debutant AAP trailing behind. The Congress is marginally ahead in Manipur and may win the state election for third time in a row. The pollsters have fairly written off the possibility of other political parties coming to power in Uttar Pradesh. But remember exit polls predictions come with a warning — they may be proven wrong. Final results will be declared on Saturday after all the votes are counted. Uttar Pradesh The Network18-Gramener exit poll predicts BJP to cross the finish line in Uttar Pradesh with 193 seats. While VMR predicts BJP to win 200 seats in Uttar Pradesh, MRC predicts it to win 185 seats. Axis exit poll puts BJP in the victory lap with around 251-279 seats. The BJP will win 161 seats, according to C-Voter exit poll. CSDS is the only pollster that says there can be a neck-and-neck finish between the BJP and SP-Congress combine with 164-176 seats and 156-169 seats, respectively. 
India, Egypt should find ways to enhance trade ties'


 India-Egypt trade and investment made a significant headway in the last few years, despite the weakening of the global economy and declining trade. The bilateral trade grew 60 per cent over the last five years touching almost USD 5 billion. India, Egypt should find ways to enhance trade ties India has invited Egyptian businesses to invest in the country saying the two sides enjoying very strong political and cultural ties should now work out ways to enhance two-way investments and trade. "India and Egypt have been very strong and old partners in politics and culture. Today it is the world of economics and so I believe that it is very necessary for us to work more closely in the economic field to increase investments in both ways," said India's Ambassador to Egypt Sanjay Bhattacharyya on the sidelines of an economic seminar entitled "Make in India" organised here yesterday as part of the two-week cultural festival "India by the Nile". The seminar construes the flagship programme 'Make in India' which aims to transform India into a global design and manufacturing hub of innovative, low cost, eco friendly and zero defect products and to develop synergies with Egyptian industry. "Today we receive the largest amount of investments anywhere in the world and that's because of the systems that had been created," he added.

Wednesday, March 8, 2017

TRAI to propose PCO-like model to popularise public WiFi service 

 According to an official, the services will be device-agnostic, allowing the consumer to use the WiFi data pack on multiple devices. 'PCO STD ISD' written on them? If the model likely to be suggested by the Telecom Regulatory Authority of India for popularising public WiFi services is implemented, we could have 'DPO or data public office’ on the lines of those public call office or PCO as they were called. According to an official, the services will be device-agnostic, allowing the consumer to use the WiFi data pack on multiple devices. “Suppose a user buys WiFi pack at a DPO and uses only a certain percentage of the data. He or she can comfortably walk away and use the remaining data later as well at another spot of the service provider. Not only that, the person will be able to use the data on any other device as well using the user id and password,” the telecom regulator was expected to send its recommendations on public WiFi services to the Department of Telecommunication today or tomorrow. 

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