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  • Business

    SBI receives Rs 40,000 from ArcelorMittal; May settle dues of other lenders

    New Delhi: The State Bank of India (SBI), the lead banker of the bankrupt Essar Steel, is likely to settle dues of other lenders as it received Rs 40,000 crore Friday from ArcelorMittal, which is going to takeover the company bringing to an end to the much-prolonged resolution process. The SBI may settle the dues of all the other lenders Monday. The development followed...

    • 13 hrs ago
  • Business

    Apparel brand Cantabil eyes 400 outlets in one year, to invest Rs 25 cr

    New Delhi: Apparel brand Cantabil Retail India plans to expand its presence across the country by raising in one year the number of outlets to 400 from 290 and invest Rs 25 crore in tier I and II cities. '2019 has been a positive year and we are hopeful to continue with the same growth momentum in the coming year. There is a significant increase in awareness about the...

    • 15 hrs ago
  • Business

    Electric vehicle maker Tesla unveils 15.4 kW home solar system

    San Francisco: Electric vehicle (EV) maker Tesla has unveiled a 15.4 kW solar system suitable for 4,000 plus sqft and above homes as part of its attempt to revamp the solar business. It's suitable for homes that were paying $340-460 per month for electricity, the MSPower User reported Friday. Earlier in September, the EV maker had launched simplified solar power offerings that were...

    • 15 hrs ago
  • Business

    Trade talks: China suspends planned tariffs on several US products

    Beijing: China has suspended the planned additional tariffs on some US products which were to be implemented at 12:01 pm December 15, the Customs Tariff Commission of the State Council said Sunday. The suspension covers the 10-per cent and 5-per cent additional tariffs, respectively, on the imported products, Xinhua news agency reported. This development comes after the US and...

    • 22 hrs ago
  • Business

    Xiaomi likely to lose top spot in Indian smartphone market in 2020

    New Delhi: Chinese smartphone maker Xiaomi is confident that it will be able to retain its No. 1 position in the Indian smartphone market next year too, but industry experts believe that the country may see a different winner in 2020. At the end of the first quarter of 2019, Xiaomi had a market share of 30.6 per cent, far ahead of Samsung, which took the second spot with a share...

    • 22 hrs ago
  • Business

    Mobile handset import duty likely to stay at 20 pc in budget

    New Delhi: The government is unlikely to increase the basic customs duty on import of mobile handsets from 20 per cent in the upcoming budget, according to official sources. No proposal was under consideration to increase duty, said the sources. The import of mobile phones (push button types) decreased to $400 million in 2018-19 from $935 million in 2019-18. Smartphone imports have...

    • 23 hrs ago
  • Business

    Premium healthcare services likely to come under GST net

    New Delhi: The government may bring certain healthcare services under the GST net, touching upon a sensitive area, as it looks to give a leg up to revenue mobilisation hit hard in the ongoing economic slowdown. Official sources said the Finance Ministry, which had deliberations with the state governments on measures to boost GST revenue, is likely to recommend bringing premium healthcare...

    • 24 hrs ago
  • Business

    Jewellery segment eyes recovery as customer interest increases

    Jaipur: The gems and jewellery segment sees a silver lining after a long slump as the number of queries has increased since last month, said former chairman of Gem and Jewellery Exports Council and Jaipur Jewellery Show secretary Rajiv Jain. Jain was speaking at a press conference called to announce the dates of 16th edition of Jaipur Jewellery Show (JJS), which is the largest...

    • yesterday
  • Business

    SpiceJet grounds three B737 aircrafts over potential glitch

    Mumbai: SpiceJet has informed the exchanges that it has grounded three of its B737 freighter aircraft. The low cost carrier Friday said that the step was taken 'on the advice of the Israeli Aerospace Industries (IAI), which converted these aircraft to freighters'. According to the statement by the company: 'During an internal examination of IAI's manufacturing facilities, a potential...

    • yesterday
  • Business

    Google wants US Fed Reserve to follow India's UPI, build 'FedNow'

    New Delhi: In a thumbs up to the Indian government's Unified Payments Interface (UPI) scheme, Google has written to the US Federal Reserve Board detailing the successful example of UPI-based digital payment in India in order to build 'FedNow' — a new interbank real-time gross settlement service (RTGS) for faster digital payments in the US. In a letter written by Mark...

    • yesterday

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