Mumbai : Seven Indian companies feature in the US magazine Fortune 500 list of the world’s largest firms, with state-run Indian Oil Corp (IOC) remaining the top-ranked Indian company in the 2018 rankings and Reliance Industries Ltd (RIL) improving its position substantially. American retail giant Walmart tops the latest Fortune listing while Indian Oil jumped to […]
Category: Business
Possibility of currency wars risk to India’s growth: RBI Governor
Mumbai : The Reserve Bank of India on Wednesday said that the possibility of global protectionist measures culminating into currency wars can hamper India’s growth prospects. “We already had a few months of turbulence behind us and it looks like that this is likely to continue for how long I don’t know. But the trade […]
RBI hikes key lending rate by 25 basis points to 6.5%
Mumbai : The Reserve Bank of India (RBI) on Wednesday raised its key benchmark lending rate by 25 basis point to 6.5 per cent in its third monetary policy review of 2018-19. “On the basis of an assessment of the current and evolving macroeconomic situation at its meeting today, the Monetary Policy Committee (MPC) decided […]
Digital payments to be trillion-dollar market by 2023: NITI Aayog
New Delhi : The digital payments market in India is set to become a trillion-dollar industry in the next five years, led by growth in mobile payments which are slated to rise to $190 billion by 2023 from $10 billion in 2017-18, the NITI Aayog said on Tuesday. This would present huge business opportunities for […]
Tata Motors posts Rs 1,863 cr Q1 loss
Mumbai : Auto major Tata Motors on Tuesday reported a consolidated net loss of Rs 1,863 crore for the quarter ended June 30 on account of losses at its luxury car unit Jaguar Land Rover (JLR). The automobile major had earned a profit of Rs 3,200 crore in the year-ago quarter. According to the quarterly […]
IndiGo’s Q1 net profit plunges 97%
Mumbai : Budget passenger carrier IndiGo on Monday reported a decline of 96.6 per cent in its net profit for the first quarter of 2018-19 due to high fuel prices and currency fluctuations. According to the airline, net profit for the quarter under review declined to Rs 27.8 crore from Rs 811.1 crore reported for […]
Reliance Jio posts Rs 612 crore profit in Q1
Mumbai : Reliance Jio, a subsidiary of Reliance Industries Limited (RIL), posted a standalone net profit of Rs 612 crore for the first quarter of 2018-19. It had posted a standalone net profit of Rs 510 crore for the fourth quarter of 2017-18. According to the results published on Friday, the standalone revenue from operations […]
US economic growth hits fastest rate since 2014, Trump rejoices
Washington : The US economy grew at a 4.1 per cent rate, the strongest pace in nearly four years during the second quarter, powered by a rebound in consumer spending, exports and firm business investment, the Commerce Department said on Friday. US President Donald Trump cheered the numbers, holding an impromptu press conference outside the […]
ICICI Bank’s Q1 standalone net loss at Rs 120 cr
Mumbai : Private lender ICICI Bank on Friday reported a net loss of Rs 120 crore on a standalone basis for the first quarter of 2018-19. The lender had reported a net profit of Rs 2,049 crore during the corresponding period of the previous financial year. However, the banking major’s net interest income grew to […]
GST replaced ‘Congress legacy tax’ with ‘good and simple tax’: Jaitley
New Delhi : Union Minister Arun Jaitley on Friday said the GST has replaced the ‘Congress Legacy Tax’ — which was 31 per cent for most goods — with a ‘good and simple tax’, adding that the existing 28 per cent slab will be phased out following further improvement in revenue collections. “It is an […]