Higher oil prices may create adversity: Arun Jaitley

Higher oil prices may create adversity: Arun Jaitley

Monday, June 6th, 2016 | Posted in Business | by

India, which depends on imports to meet 80 per cent of its oil needs, will have to spend Rs 9,126 crore (USD 1.36 billion) more for every dollar per barrel increase in crude oil prices while also seeing surge in inflation. “Obviously higher crude price is not good news for India. But if it remains […]

Amul hikes milk prices by up to Rs 2/litre in Delhi, Gujarat

Amul hikes milk prices by up to Rs 2/litre in Delhi, Gujarat

Friday, June 3rd, 2016 | Posted in Business News | by

Dairy major Amul today said it will increase milk prices by up to Rs 2 per litre in Delhi and Gujarat due to increase in production cost. Other milk producers may also follow the suit. The new price will come into effect in Delhi market from tomorrow and in Ahmedabad and Saurashtra regions from June […]

Airtel Payments Bank Appoints Shashi Arora As CEO, Managing Director

Airtel Payments Bank Appoints Shashi Arora As CEO, Managing Director

Thursday, June 2nd, 2016 | Posted in Business | by

Airtel Payments Bank on Wednesday announced the appointment of Shashi Arora as CEO and managing director. His appointment is subject to approval of the Reserve Bank of India. Mr Arora will replace Manish Khera, CEO, who resigned from the post to pursue his entrepreneurial journey. “I am delighted to announce the appointment of Shashi Arora […]

Johnson & Johnson loses another court battle, ordered to pay 55 million USD to cancer survivor in talcum powder case

Johnson & Johnson loses another court battle, ordered to pay 55 million USD to cancer survivor in talcum powder case

Wednesday, May 4th, 2016 | Posted in Business | by

A US court ordered famous Johnson & Johnson company to pay 55 million dollar to a woman, who claimed its talcum powder caused her ovarian cancer. For the second time in three months, Johnson & Johnson was asked  to pay a huge award over claims that its talcum powder causes cancer. The St Louis jury deliberated eight hours before ordering Johnson & […]

No Takers For Kingfisher Airlines Brand At Online Auction

No Takers For Kingfisher Airlines Brand At Online Auction

Saturday, April 30th, 2016 | Posted in Business | by

Auction of brands and trademarks of the long-grounded Kingfisher Airlines turned out to be a damp squib on Saturday as lenders failed to attract a single bidder for sale of these pledged assets at a reserve price of Rs 366.70 crore in their efforts to recover unpaid loans from beleaguered businessman Vijay Mallya. This is […]

Google and Microsoft drop all regulatory complaints against each other worldwide

Google and Microsoft drop all regulatory complaints against each other worldwide

Sunday, April 24th, 2016 | Posted in Business | by

Microsoft Corp and Alphabet Inc’s Google have reached a deal to withdraw all the regulatory complaints against each other. “Microsoft has agreed to withdraw its regulatory complaints against Google, reflecting our changing legal priorities. We will continue to focus on competing vigorously for business and for customers,” a Microsoft spokesperson said in an email. Google, […]

Vijay Mallya convicted in cheque-bouncing case

Vijay Mallya convicted in cheque-bouncing case

Thursday, April 21st, 2016 | Posted in Business News | by

A local court convicted industrialist Vijay Mallya in a cheque-bouncing case filed against him by GMR Hyderabad International Airport Ltd. The court, however, did not pronounce the quantum of punishment as the Rajya Sabha MP, who left the country last month, was not present in the court, Mallya’s lawyer H Sudhakar Rao said. The quantum […]

Non-Bailable Warrant Issued Against Vijay Mallya By Mumbai Court

Non-Bailable Warrant Issued Against Vijay Mallya By Mumbai Court

Monday, April 18th, 2016 | Posted in Business News | by

A Special PMLA Court on Monday issued a non-bailable warrant against former liquor baron Vijay Mallya. The court rejected Kingfisher’s plea challenging Enforcement Directorate’s claim that Rs 430 crore was siphoned off and used to acquire properties abroad. The Enforcement Directorate had informed the court that Mallya needs to appear before it for case to […]

India asks World Bank to increase developmental fund to USD 100 billion

India asks World Bank to increase developmental fund to USD 100 billion

Sunday, April 17th, 2016 | Posted in Business News | by

India today asked the World Bank to increase its developmental fund to USD 100 billion a year from the existing USD 50-60 billion and called for enhancing the share and voice of developing nations in the management of institutions providing assistance under it. The World Bank provides developmental assistance through International Bank for Reconstruction and […]

Vijay Mallya's business model could be at fault: Arun Jaitley

Vijay Mallya’s business model could be at fault: Arun Jaitley

Saturday, April 16th, 2016 | Posted in Business News | by

Questioning the “business model” of long-grounded Kingfisher Airlines for Vijay Mallya’s mounting woes, Finance Minister Arun Jaitley has said the airline sector as such is doing well in India with many carriers making good profits. Mallya, the owner of Kingfisher Airlines and many other companies that owe over Rs 9,000 crore of dues to lenders, […]

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