E-sellers file plea at CCI against Flipkart
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Banks get Rs 35,200 cr in big bankruptcy success
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Mudra funding: FinMin ties up with 40 entities
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Freak weather shrinks AC sales in some states
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NSE to delist Kingfisher, Plethico Pharma, 16 others from May 30
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Shell firms: Income Tax department to file pleas in NCLT to extract tax due
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Three directors quit as takeover fight for Fortis Healthcare drags on
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CBI files chargesheet in Rotomac case
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PNB fraud: ED attaches Rs 170 crore assets of Nirav Modi
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Market slide continues, Sensex loses above 200 pts
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Banks can lend to 15 crore more people: Report
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Bring petrol, diesel under GST, says ASSOCHAM
-> Rising crude prices coupled with weaker rupee with cascading impact on inflation pose a big challenge for the Indian macro picture, said ASSOCHAM Secretary General D S Rawat -> In the long run, India needs to rework its energy security and ensure that petrol and diesel do not remain a huge revenue resource, he added MANGALURU: While cut in excise duty on petrol and diesel may provide temporary relief to the consumers, the sustainable solution lies in the automobile fuel coming under the Goods and Services Tax, which can happen only after the Centre and states together reduce their dependence on the fuel considerably, said ASSOCHAM Secretary General D S Rawat. Rising crude prices coupled with weaker rupee with cascading impact on inflation pose a big challenge for the Indian macro picture and ironically, there is a little that can be done in the short term, he said. In the long run, India needs to rework its energy security and ensure that petrol and diesel do not remain a ...
Economic talks between US-China result in truce in trade war
HIGHLIGHTS After high-level talks in Washington, Beijing agreed in a joint statement with the US to "substantially reduce" America's trade deficit with China, but did not commit to cut the gap by any specific amount The Trump administration had sought to slash the deficit by $200 billion. WASHINGTON: The United States and China are pulling back from the brink of a trade war after the world's two biggest economies reported progress in talks aimed at bringing down America's massive trade deficit with Beijing. "We are putting the trade war on hold," Treasury Secretary Steven Mnuchin said Sunday. After high-level talks Thursday and Friday in Washington, Beijing agreed in a joint statement with the US to "substantially reduce" America's trade deficit with China, but did not commit to cut the gap by any specific amount. The Trump administration had sought to slash the deficit by $200 billion. Still, Mnuchin said the two countries had made...
Moody's downgrades PNB on impact of Nirav Modi fraud
MUMBAI: International rating agency Moody's today said it has downgraded state-run Punjab National Bank's (PNB) rating to Ba1/NP from Baa3/P-3, due to impact on the lender's profitability following Nirav Modi-fraud case. It kept the ratings outlook as stable but also downgraded the bank's baseline credit assessment (BCA) and Adjusted BCA to b1 from ba3. "The downgrade of the bank's BCA and ratings reflects the negative impact of the discovery of a number of fraudulent transactions on the bank's standalone profile, particularly its capital position," the rating agency said in a report here today. The downgrade also reflects the weak internal controls and processes of the bank, given that the fraudulent transactions were undetected for a number of years. In February, the bank announced that it had discovered some fraudulent and unauthorised transactions amounting to Rs 11,390, billion ($1.7 billion). Based on the bank's subsequent announcements,...