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    Indian Wood Products to invest in Kashmir

    Kolkata: Even as the debate over the actual socio-political situation on ground zero in Jammu & Kashmir continues, The Indian Wood Products (IWP) Co Ltd, the century old largest manufacturer of branded Katha (catechu) in India, has decided to shell out Rs 20 crore, in the first phase, to come up with a state-of-the-art manufacturing facility in Jammu, purely on business reasons (on the availability...

    • 8 hrs ago
  • Companies

    Tata plans to cut jobs across European operations

    London: Tata Steel plans to cut jobs across its European operations as it wrestles with excess supply and high costs, the company said on Monday. Following a weekend interview in the Financial Times with the group's European Chief Executive, Henrik Adam, Tata confirmed it was planning to announce job cuts across the European business, which employs around 20,000 people. No numbers have been...

    • 8 hrs ago
  • Companies

    Major recovery for SBI, ICICI from Essar verdict

    Mumbai: The recent Supreme Court's landmark judgement on Essar Steel case will see healthy recoveries for several banks, including State Bank of India (SBI), ICICI Bank, Axis Bank, Bank of Baroda and Punjab National Bank, which would boost their Q3 earnings. Several financial creditors had a high provision cover of almost 100 per cent on their exposure to the steel company. Essar Steel has been a...

    • 9 hrs ago
  • Companies

    IT companies may shed 30,000-40,000 mid-level staff: Pai

    Bengaluru: India's information technology services companies may shed 30,000 to 40,000 middle-level employees this year as growth slows down, IT industry veteran T V Mohandas Pai said Monday. The former Chief Financial Officer of IT major Infosys Ltd termed these job losses as once-in-five-years normal phenomenon with maturing of the industry. "As in all sectors in the West, in...

    • 17 hrs ago
  • Companies

    Govt to sell Air India, BPCL by March 2020: Sitharaman

    New Delhi: The government is planning to sell two state-run companies Air India and Bharat Petroleum Corporation Limited (BPCL) by March 2020, Finance Minister Nirmala Sitharaman has said. The Finance Minister also stated that the privatisation of two state-run companies will help government to meet its disinvestment target of Rs 1 lakh crore for the current fiscal year. 'We are moving on...

    • 21 hrs ago
  • Companies

    Amazon doing extremely well in India: Jeff Bezos

    Washington: E-commerce giant Amazon is doing "extremely well" in India, its founder and CEO Jeff Bezos has said while expressing hope for regulatory stability in the country. Bezos' remarks came in response to a question on Amazon's concerns over some Indian policies with regard to digitisation. "Regulatory stability is the thing that we would always hope for India. Whatever the...

    • 22 hrs ago
  • Companies

    Vodafone-Idea believes govt won't be in conflict with SC on telco relief: Brokerages

    New Delhi: Having posted India's biggest ever quarterly loss after being forced to provision for statutory dues, Vodafone Idea believes the government will not be in conflict with the Supreme Court if it does provide any relief for payments ordered by the apex court, brokerages have said. Vodafone Idea Ltd (VIL) faces a liability of Rs 44,150 crore after the...

    • 23 hrs ago
  • Companies

    'Golden age' for Indian aviation sector; fundamentals strong: IndiGo chief

    New Delhi: With strong fundamentals, India's civil aviation sector is in its "golden age" and there is also healthy competition among domestic carriers, IndiGo CEO Ronojoy Dutta has said. Interestingly, the country's civil aviation sector has been experiencing lower growth in traffic compared to previous years and there has also been softness in fares in...

    • 23 hrs ago
  • Companies

    NBCC, Suraksha Realty submit revised bids for Jaypee Infra

    New Delhi: State-owned NBCC Ltd on Sunday sweetened its bid to acquire bankruptcy-bound Jaypee Infratech, by offering lenders 1,426-acre land instead of 950 acres earlier and also providing half of 3,000 benami flats to them, sources said. Suraksha Realty, which is in race to acquire the debt-ridden firm, also submitted its bid and has raised its offer to 1,934 acres of land worth Rs...

    • 24 hrs ago
  • Companies

    Saudi Aramco in race for IPO record with USD 1.7 trillion top value

    Dubai: Saudi Aramco is worth up to USD 1.7 trillion at the price range set by the oil giant on Sunday, below the USD 2 trillion sought by Saudi's crown prince but putting it in the running to become the world's biggest IPO. Aramco cannot sell its shares directly to investors in the United States and other markets, as the initial public offering (IPO) will be restricted to...

    • 24 hrs ago

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