Month: July 2017

Telcos in India can shut services without surrendering license: Trai

NEW DELHI: A carrier can shut its services without surrendering its license, but must immediately surrender non-auctioned spectrum and also inform customers 30 days in advance, the telecom regulator suggested as part of efforts to clear any confusion when a telco closes its operations. The Telecom Regulatory Authority of India (Trai) Monday also recommended a …

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Pregnant woman in Madhya Pradesh walks 20 km, delivers on road; baby dies

Her family members alleged that they had called the community health centre for ambulance, but it didn’t come (PTI) A pregnant woman trudged 20 km and delivered baby on the road due to unavailability of ambulance in Katni district of Madhya Pradesh today. The newborn baby girl died. Beena, resident of Barmani village, decided to …

Pregnant woman in Madhya Pradesh walks 20 km, delivers on road; baby diesRead More »

We are doing incredibly well, says US President Donald Trump

“Everybody smiled and they laughed and they thought we’d be at one. And 2.6 is an unbelievable number, announced on Friday,” said the US President. (Reuters) President Donald Trump today said that under his leadership the US is doing incredibly well and the unemployment now is the lowest in 17 years. “Overall, I think we’re …

We are doing incredibly well, says US President Donald TrumpRead More »

Nitish Kumar transfers 28 IAS officers including 6 districts magistrates

Bihar Chief Minister Nitish Kumar on Monday effected a bureaucratic reshuffle of by changing position of 28 IAS officers to tone up administration under the new JD(U) and NDA coalition government which was formed on July 27.Principal Secretary Home Amir Subhani, a 1987 batch officer, has been given additional charge of Minority Welfare department.A 1989 …

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Markets log best performance in 16 months on strong portfolio flows

Investor optimism towards the Indian markets was on display in July as the benchmark indices posted their best monthly gains since March 2016. The Nifty conquered the 10,000 mark for the first time, with a gain of nearly six per cent, while the Sensex rose 5.2 per cent to end above 32,500, an all-time closing high. …

Markets log best performance in 16 months on strong portfolio flowsRead More »

HBO suffers cyber attack, hacked; Game of Thrones Season 7 upcoming episodes, script, data leaked online

The leak also contains the script to Game of Thrones season seven upcoming episodes. (Reuters) Many entertainment companies have suffered cyber hack in the past and the latest one to join the list is HBO. As per a report by Entertainment Weekly, various upcoming series and one script have been put online by the hackers. …

HBO suffers cyber attack, hacked; Game of Thrones Season 7 upcoming episodes, script, data leaked onlineRead More »

NIA raids ancestral house of Syed Ali Shah Geelani aide, protests rock Rajouri

The agency had yesterday searched the lawyer’s Jammu- based office and residence. Behal is the chairman of the Jammu and Kashmir Social Peace Forum (JKSPF), a constituent of Tehreek-e-Hurriyat headed by Geelani. (PTI) The NIA today raided the ancestral house of a lawyer who is believed to be a close associate of hardline separatist leader …

NIA raids ancestral house of Syed Ali Shah Geelani aide, protests rock RajouriRead More »

6 candidates in race for Pakistan interim PM’s polls tomorrow

Pakistan’s opposition parties on Monday failed to agree on a joint candidate against PML-N’s Shahid Khaqan Abbasi for the prime minister’s election, with six candidates filing their nomination papers for the polls scheduled to be held tomorrow.President Mamnoon Hussain has summoned National Assembly, the lower house of parliament, tomorrow at 3:00 PM to elect the …

6 candidates in race for Pakistan interim PM’s polls tomorrowRead More »

Reliance Communications close to sealing Sistema deal

Mumbai, July 31:   Reliance Communications is likely to close its merger with Sistema Shyam TeleServices Ltd (SSTL) this week, as the company expects to get the Department of Telecommunications’ (DoT) approval in a day or two. A formal announcement is also expected soon, if not this week. RCom is expecting the DoT, the country’s telecom …

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INVECAS to buy US company’s business for $5 million

Will acquire Lattice Semiconductor Corporation’s HDMI design team, Simplay Labs subsidiary Hyderabad, July 31:   Hyderabad-based INVECAS Technologies, which provides complete solutions to the semiconductor industry, will acquire US-based Lattice Semiconductor Corporation’s HDMI design team and Simplay Labs subsidiary, which oversees standards compliance and interoperability testing services. As part of the agreement, Lattice will transfer its …

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Higher yields, capacity boost IndiGo, net soars 37 per cent to Rs 811 crore

MUMBAI: Despite lingering issues with its new A320 Neos, nine of which are grounded due to engine glitches, InterGlobe-run IndiGo today logged in 37.1 per cent growth in net at Rs 811 crore, driven by higher load factor and the resulting better margins. A 5.5 per cent improvement in RASK (revenue per available seat), coupled …

Higher yields, capacity boost IndiGo, net soars 37 per cent to Rs 811 croreRead More »

Essar Shipping Q1 net loss widens to Rs 58 crore

NEW DELHI: Essar Shipping today reported widening of its standalone net loss to Rs 57.8 crore for the quarter ended June 30, 2017. Its standalone net loss in the corresponding quarter of the previous fiscal was Rs 50.4 crore, Essar Shipping said in a filing to the BSE. According to a company official, its net …

Essar Shipping Q1 net loss widens to Rs 58 croreRead More »

Assam floods: PM Narendra Modi sanctions relief for victims, to visit tomorrow

He also announced Rs 50,000 each for those seriously injured in the floods in the state, the Prime Minister’s Office (PMO) said. (PTI) Prime Minister Narendra Modi today announced Rs 2 lakh each for the next of kin of those who lost their lives in the floods in Assam, a day ahead of his visit …

Assam floods: PM Narendra Modi sanctions relief for victims, to visit tomorrowRead More »

Constitution 123rd Amendment Bill and National Commission for Backward Classes (Repeal) Bill, 2017 passed with amendment in Rajya Sabha

Days after the Select Committee submitted its report, the Rajya Sabha today took up the Constituent amendment bill (PTI) The Rajya Sabha today saw high drama and embarrassment for the government as a Constitution amendment bill on backward classes was changed after some amendments moved by the Opposition were passed by the House.The Constitution (123rd …

Constitution 123rd Amendment Bill and National Commission for Backward Classes (Repeal) Bill, 2017 passed with amendment in Rajya SabhaRead More »

RBI restricts NRIs to buy more shares in Asian Hotels (West)

Reserve Bank today said NRIs are restricted from buying further shares in Asian Hotels (West) Ltd as the allowed limit of 10 per cent has been breached.“Therefore, no further purchases of shares of this company would be allowed through Stock Exchanges in India on behalf of NRIs,” it said.FIIs, NRIs and PIOs (Persons of Indian …

RBI restricts NRIs to buy more shares in Asian Hotels (West)Read More »

Tata Motors CEO Butschek draws Rs 22.55 cr salary in FY17

Tata Motors’ CEO and Managing Director Guenter Butschek took home over Rs 22.55-crore salary last fiscal, while other key officials saw their remunerations cut in a year when the company was saddled with losses.Ravi Pisharody, erstwhile Executive Director and former head of the company’s commercial vehicles (CV) business unit who had quit the company last …

Tata Motors CEO Butschek draws Rs 22.55 cr salary in FY17Read More »

Tyre of Etihad Airways aircraft bursts at Mumbai airport; aircraft had over 200 people on board

Etihad Airways carrying over 200 people on board suffered a tyre burst on landing. (ANI) A huge mishap was averted after an Etihad Airways carrying over 200 people on board suffered a tyre burst on landing on Monday at 7 pm at Mumbai Airport. As per the PTI report, following the incident, the Mumbai airport …

Tyre of Etihad Airways aircraft bursts at Mumbai airport; aircraft had over 200 people on boardRead More »

The 8% growth mirage

The vice-chairman of the NITI Aayog, Arvind Panagariya, said last week that India was on its way to 8 per cent growth and would likely clock 7.5 per cent growth over the course of 2017-18. While he acknowledged job creation was a challenge, he said that as the last quarter of the year approached, the …

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A presidency in disarray

If it took 10 days to shake the world with the Russian revolution in November 1917, it may have taken five days of serial disasters in the last week of July for US President Donald Trump to precipitate a global crisis in 2017. Cornered by an aggressive pushback from Congress, the military and mavens within …

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Liverpool supporters vote in favour of safe standing

(Reuters) – Liverpool fans have backed the idea of safe standing through rail seating in an online poll run by the club’s Spirit of Shankly supporters’ body. Following a debate on the issue, the result of the poll on Monday revealed 88 percent of the 17,910 people who voted were in favour of the introduction …

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India submits Vijay Mallya’s extradition paperwork to his legal team

The next hearing to assess the progress in the case will be held at Westminster Magistrates’ Court on September 14. (Reuters) The Indian government has submitted the requisite “opening note” and paperwork related to Vijay Mallya’s extradition case to the liquor baron’s legal team within the UK court deadline today. Chief Magistrate Emma Louise Arbuthnot, …

India submits Vijay Mallya’s extradition paperwork to his legal teamRead More »

Consumers may be more trusting of ads than marketers think

The early results from a recent study that Kent Grayson, a North-western University marketing professor, did on consumer scepticism left him feeling a little, well, skeptical.So he ran the trials a few more times. Each time, when participants were asked what they thought of modern advertising techniques, they answered with words like “credible,” “fair” and …

Consumers may be more trusting of ads than marketers thinkRead More »

US shale producers add to India’s luck with oil

The National Democratic Alliance government came to power in May 2014 with big luck in oil. The stunning fall in oil prices, from a high of $115 a barrel in the beginning of that year to under $35 a barrel at the end of February 2016, relieved Finance Minister Arun Jaitley of two big worries: …

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Swachh Survekshan 2018: Narendra Modi government launches 3rd cleanliness survey but with a revised methodology

The government today launched the third cleanliness survey — ‘Swachh Survekshan-2018’ — to rank 4,041 cities and towns in the country with a revised methodology. (Source: PTI) The government today launched the third cleanliness survey — ‘Swachh Survekshan-2018’ — to rank 4,041 cities and towns in the country with a revised methodology. Under the survey, …

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India set to overtake US as the second largest 4G handset market: report

Mumbai, July 31:   With telecom operators ramping up their broadband networks, India is set to displace the US as the second largest 4G mobile handset market in the world after China, by early next year. According to the latest research from Counterpoint’s Market Monitor service, LTE installed base of handsets crossed 150 million units only …

India set to overtake US as the second largest 4G handset market: reportRead More »

BJP’s Sampatiya Uike elected unopposed in RS bypoll from MP

BHOPAL: BJP’s tribal nominee Sampatiya Uike was today elected unopposed on the lone vacant Rajya Sabha seat from Madhya Pradesh. Returning Officer and Principal Secretary A P Singh declared Uike elected as she was the only nominee left in the fray on the last day of the withdrawal of the nominations this afternoon, a state …

BJP’s Sampatiya Uike elected unopposed in RS bypoll from MPRead More »

Cricket-Moeen proves England’s man for the ages

LONDON, July 31 (Reuters) – The Oval has extracted every last drop of publicity from its 100th test but even the famous old ground’s PR department would have struggled to dream up an ending so dramatic it may be talked about 100 games hence. After an unremarkable morning, Moeen Ali bounced up to the crease …

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HSBC India profit up 14% in six months ended June 2017

MUMBAI: Hong Kong and Shanghai Banking Corp. (HSBC)’s profit before tax in India rose 14% to $460 million in the six months ended June 2017 from $402 million in the corresponding period of 2016, aided by higher income from the bank’s corporate and commercial banking divisions. Profit from the bank’s so called corporate centre division, …

HSBC India profit up 14% in six months ended June 2017Read More »

GE Power India Q1 net profit dives 83% to Rs 10 crore

NEW DELHI: Power producer GE Power India today reported 83 per cent decline in standalone net profit to Rs 10.5 crore for the first quarter ended June 30. The company had posted standalone net profit of Rs 63 crore in the corresponding quarter of previous fiscal, GE Power India said in a filing to BSE. …

GE Power India Q1 net profit dives 83% to Rs 10 croreRead More »

Salman Khan says he wants to have children but no marriage; know the reason

Marriage looks doubtful but I want two-three children. (Reuters) One question that every person in India wants and answer to is when is Salman Khan getting married! The most eligible bachelor of B-town, Salman’s toned body, and his huge fan base can give any actor a run for their money. Both men and women go …

Salman Khan says he wants to have children but no marriage; know the reasonRead More »

Tata Motors CEO Guenter Butschek draws Rs 22.55 crore salary in FY17

Tata Motors’ CEO and Managing Director Guenter Butschek took home over Rs 22.55-crore salary last fiscal, while other key officials saw their remunerations cut in a year when the company was saddled with losses. (Source: Reuters) Tata Motors’ CEO and Managing Director Guenter Butschek took home over Rs 22.55-crore salary last fiscal, while other key …

Tata Motors CEO Guenter Butschek draws Rs 22.55 crore salary in FY17Read More »

High Court issues notice to Centre, Tamil Nadu government for probe into gutkha scam

The Madras High Court today sought the response of the Centre and the Tamil Nadu government to a PIL by a DMK MLA seeking a probe by a special investigation team into allegations of involvement of a state minister and officials in a gutkha scam. (Source: PTI) The Madras High Court today sought the response …

High Court issues notice to Centre, Tamil Nadu government for probe into gutkha scamRead More »

What Bombay High Court said about RERA; Maharashtra and other builders must know

Maharashtra Advocate General Ashutosh Kumbhakoni today told the court that RERA was aimed at regulating construction activity and also the sale of flats to third parties. (Reuters) The Bombay High Court today directed the central and Maharashtra governments to file replies to petitions challenging constitutional validity of some of the provisions of the Real Estate …

What Bombay High Court said about RERA; Maharashtra and other builders must knowRead More »

No doubt John Kelly will do a spectacular job as chief of staff: Trump

US President Donald Trump today said that his new Chief of Staff General (rtd) John Kelly would do a “spectacular job” as head of the White House.Kelly, 67, served as Trump’s Homeland Security Secretary during the first six months of the administration and he comes to the White House at a time when there has …

No doubt John Kelly will do a spectacular job as chief of staff: TrumpRead More »

Delhi CM Arvind Kejriwal vows to turn around DTC in 2 years, says will make it world class

Arvind Kejriwal (PTI) The Delhi government will “turn around” the public transporter DTC and make it a “world class” body in the next two years, Chief Minister Arvind Kejriwal said today. Citing his government’s “success” in improving schools and “widely appreciated” Mohalla Clinics, Kejriwal said the Delhi Transport Corporation (DTC) will be developed into the …

Delhi CM Arvind Kejriwal vows to turn around DTC in 2 years, says will make it world classRead More »

Gujarat floods: Congress MLAs have vanished while people battle natural calamity, says Union minister Smriti Irani

Union minister Smriti Irani (PTI) Union minister Smriti Irani today took potshots at the Congress, saying the party was worried about ensuring the victory of its Rajya Sabha candidate, while its MLAs had left the flood-affected people of Banaskantha in Gujarat to fend for themselves. The opposition party has sent its MLAs to Bengaluru to …

Gujarat floods: Congress MLAs have vanished while people battle natural calamity, says Union minister Smriti IraniRead More »

Ramp up capacity to achieve 100GW solar target by 2022: Study

India will need to add over 15,000 MW solar capacity every year to achieve the target of 1,00,000 MW by 2022, a study has said. (Source: IE) India will need to add over 15,000 MW solar capacity every year to achieve the target of 1,00,000 MW by 2022, a study has said. The country’s installed …

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Indian soldiers among World War I martyrs remembered in Europe

The Battle of Passchendaele, described as one of the bloodiest battles of World War I, took place between July and November 1917 and led to nearly 250,000 casualties on both sides – the Allied Forces fighting the German Army. (Representative Image: Reuters) Indian soldiers who fought as part of the British Army during the Raj …

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Air India selloff: Airline’s current business not sustainable, government tells Parliament panel

Air India’s current business is “not sustainable” as it is neither able to generate enough cash flow nor start repaying even the principal amount on its debt, the government has told a Parliamentary panel. (Source: PTI) Air India’s current business is “not sustainable” as it is neither able to generate enough cash flow nor start …

Air India selloff: Airline’s current business not sustainable, government tells Parliament panelRead More »

Lynchings in India: Opposition, NDA attack each other in Lok Sabha

Charges and counter charges flew in the Lok Sabha today over the issue of lynchings, with the Congress saying ‘Hindustan’ should not be allowed to become “lynchistan”. (Representative Image Source: PTI) Charges and counter charges flew in the Lok Sabha today over the issue of lynchings, with the Congress saying ‘Hindustan’ should not be allowed …

Lynchings in India: Opposition, NDA attack each other in Lok SabhaRead More »

India pledges to solve Chinese transgression in Uttarakhand locally

Amid reports of Chinese troops transgressing almost a kilometre into Indian territory in Barahoti of Uttarakhand last week, sources said on Monday that similar incidents have occurred in the past too and have been sorted out locally.“Incidents of similar nature have happened in the past but are normally sorted out locally and should not be …

India pledges to solve Chinese transgression in Uttarakhand locallyRead More »

Minimum income requirements for UK visas face criticism

Campaigners have threatened a legal challenge against the UK government for failing to act on the Supreme Court’s ruling to prevent hardship on children as a result of minimum income requirements for its citizens to bring in their foreign spouses from countries like India. British citizens must earn more than 18,600 pounds a year before a …

Minimum income requirements for UK visas face criticismRead More »

Tech Mahindra earnings: Non-core income boosts net 6.6% to Rs 798 crore

Fifth largest software exporter Tech Mahindra today reported a 6.57 per cent rise in net profit in the three months ended June at Rs 798.6 crore, primarily aided by growth in non-core income. (Source: Reuters) Fifth largest software exporter Tech Mahindra today reported a 6.57 per cent rise in net profit in the three months …

Tech Mahindra earnings: Non-core income boosts net 6.6% to Rs 798 croreRead More »

Ousted Pakistan PM Nawaz Sharif family to face 4 cases after Panama Papers verdict

Nawaz Sharif (Reuters) The Sharif family will face four cases for allegedly possessing offshore assets following the Supreme Court’s direction that corruption cases be filed against Nawaz Sharif and his children over the Panama Papers scandal, the National Accountability Bureau announced today. The Supreme Court had ordered the National Accountability Bureau (NAB) to start a …

Ousted Pakistan PM Nawaz Sharif family to face 4 cases after Panama Papers verdictRead More »

WATCH: Breathtaking video of how a pilot saved 127 lives as he flew almost blind after hailstorm hit jet

Akopov was awarded the Ukrainian ‘Order For Courage’ after successfully landing the damaged plane. (Representational Image/Reuters) A video of a pilot’s emergency landing of a plane whose windscreen was ‘severely damaged’ after being hit by golf ball sized hailstones is going viral on the internet. A video of a pilot’s emergency landing of a plane …

WATCH: Breathtaking video of how a pilot saved 127 lives as he flew almost blind after hailstorm hit jetRead More »

Congress, BJP spar over lynching in Lok Sabha

Charges and counter charges flew in the Lok Sabha on Monday over the issue of lynchings, with the Opposition parties targeting the Modi government and the ruling side asserting that it was the responsibility of the state governments to deal with such crimes.The BJP, in turn, slammed the Opposition parties for targeting the central government …

Congress, BJP spar over lynching in Lok SabhaRead More »

High load factors help Indigo boost June quarter performance

Strong passenger volumes, as well as better cost management, helped Interglobe Aviation, which operates its services under the Indigo brand, beat analysts’ estimates and post strong June quarter numbers. Higher demand reflected in the passenger load factors which were up 470 basis points (bps) to 88 per cent coupled with lower capacity addition growth helped …

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Leading South African retailer Pick n Pay sheds 3,500 jobs

JOHANNESBURG: One of South Africa’s largest retailers Pick n Pay on Monday said it had cut around 3,500 jobs — 10 percent of its workforce — in a bid to curb costs in an economy battling a recession. “The voluntary severance programme is one of several steps we have taken to make our business more …

Leading South African retailer Pick n Pay sheds 3,500 jobsRead More »

Man United sign midfielder Matic from Chelsea

LONDON (Reuters) – Manchester United have signed Serbia midfielder Nemanja Matic from Premier League champions Chelsea on a three-year contract with an option to extend for a further year, both clubs said on Monday. Financial terms of the deal were not disclosed, but British media reported that United paid between 40 million ($52.48 million) and …

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Jaypee Infra Q1 net loss expands to Rs 45 crore

NEW DELHI: Jaypee Infratech Ltd’s standalone net loss widened to Rs 44.7 crore for the quarter ended June 30, 2017. The company had posted a net loss of Rs 35.6 crore in the corresponding quarter of previous fiscal, Jaypee Infratech said in a BSE filing. The total income from operations (net) during April-June quarter dropped …

Jaypee Infra Q1 net loss expands to Rs 45 croreRead More »