Blow to Tata Motors’ role in combat vehicle project

New Delhi: Tata Motors’ role in developing a future infantry combat vehicle (FICV) for the army has received a jolt, with its leadership hopes dissolved and its very participation in question. On Thursday, the defence ministry ruled that Tata Motors’ domestic operations alone would count towards its commercial eligibility profile – which is a key […]

Panasonic launches Soundbar for better music experience

NEW DELHI: Panasonic India announced on Friday the launch of its trendy Soundbar with a dynamic futuristic design for the music lovers. “The SC-HTB3GW-K soundbar gives pleasure of an ultimate room-filling sound and clean, crisp vocals,” the company said in a statement. This powerful soundbar comes with metallic punch hole front grill and chrome finished […]

RBI hikes its share in National Housing Bank with Rs.1,000 crore

The Reserve Bank of India (RBI) on Friday announced it has increased shareholding in its wholly-owned subsidiary, the National Housing Bank (NHB), by contributing Rs.1,000 crore towards its paid-up capital. “The Reserve Bank has contributed Rs.1,000 crore towards the paid up capital of the National Housing Bank on January 12, 2016, thereby increasing its shareholding […]

Odd-even ends, Kejriwal calls it a success

NEW DELHI:  The Delhi government’s odd-even scheme restricting movement of private vehicles on alternate days will end today amid indications that it could be reintroduced in the future. The move, aimed at curbing alarming levels of pollution in the national capital, meant that four-wheelers, which account for nearly a third of Delhi’s nearly 90 lakh […]

Economic growth to gain momentum: Jaitley

New Delhi: Finance Minister Arun Jaitley on Wednesday said the economy is moving in the right direction and the pace of growth will gather momentum in the coming quarters on the back on-going structural reforms. “The economic growth is moving in the right direction and its pace is expected to gather momentum in the coming […]

Cabinet approves new crop insurance scheme

In a bid to provide a social security net to millions of farmers across the country, who have been reeling under the impact of two consecutive droughts, the Union Cabinet on Wednesday approved a new crop insurance scheme having premiums as low as 1.5 per cent of the sum insured. The scheme, to be called […]

India’s Domestic Air Passenger Traffic Up 25% in November

New Delhi: India’s domestic passenger traffic surged by a robust 25.1 per cent in November last year, fuelled by higher capacity deployment, improved economic sentiment coupled with Diwali festival rush, even as other major aviation markets such as Brazil, Russia and Japan delivered a negative growth during the same period. The overall average domestic travel […]

Reliance Jio, RCom to Sign Spectrum Sharing Deal Next Week: Report

MUMBAI: Reliance Communications (RCom) and Reliance Jio Infocomm (RJIL) are likely to sign spectrum trading and sharing agreements next week. According to sources, as part of the agreement, RCom will receive about Rs. 4,500 crore from RJIL for sale of 800-850 MHz spectrum in 12 circles. The proceeds from the sale will be used to […]

Chinese Mobile Makers Commit Major Investment in ‘Make in India’ Initiative

In a fillip to Prime Minister Narendra Modi’s ambitious ‘Make in India’ initiative, over 100 top Chinese handset and component manufacturers gathered in New Delhi on Wednesday in what could bring $2-$3 billion investment in Indian mobile manufacturing operations in the next two years. Top officials from major Chinese companies such as Techno, Gionee, Coolpad, […]

HDFC’s New Fund Plans Logistics Foray, Targets Raising $500 Million

New Delhi: A new private equity fund of mortgage lender Housing Development Finance Corp (HDFC) will target raising $500 million from offshore investors for domestic property projects, including in warehousing and logistics, a senior company executive said. Asset manager HDFC Property Fund has mainly invested in housing projects through earlier funds but, for the first […]