Thursday, Jun 21, 2018 | Last Update : 05:51 PM IST

Economy

India's second-largest private sector lender, ICICI Bank may go ahead with the decision of appointing MD Mallya as the new chairman, as per reports.

ICICI Bank may appoint MD Mallya as its new chairman, says report

MD Mallya served as the chairman of Bank of Baroda before joining the ICICI Bank board as an independent director.

London's tech companies have attracted over 4 bn pounds of investment since European Union referendum vote in June 2016.

London top hub for Indian tech investment

London has attracted more investment projects from India than any other major European city.

Violence cost the Indian economy a whopping USD 1.19 trillion (over Rs 80 lakh crore) last year in constant purchasing power parity (PPP) terms, which amounts to roughly USD 595.4 per person, says a report. (Photo: PTI)

Violence cost India's GDP over USD 1 trillion, per person cost at Rs 40,000

The economic impact of violence to the global economy was USD 14.76 trillion in 2017, in PPP terms.

PFRDA has sent two more proposals to the ministry - auto enrolment for APY and raising the maximum age bar to enter the scheme to up to 50 years.

Govt mulls raising pension limit to up to Rs 10,000 per month under APY

PFRDA added about 50 lakh new subscribers under the scheme in 2017-18.

The Reserve Bank of India on Tuesday fixed the reference rate of the rupee at 67.4571 against the US dollar and 79.3498 for the euro.

RBI sets rupee reference rate at 67.4571 against dollar

The exchange rates for the pound and the yen against the rupee were 90.0620 and 61.10 per 100 yens, respectively.

Market

Benchmark Sensex rebounded by almost 261 points to close at 35,547.33 on Wednesday, breaking its two-day falling streak as investors accumulated recently beaten down metal, banking and realty counters. (Photo: PTI)

Sensex surges 261 points on global rebound; RIL ends at record high

Oil-to-telecom conglomerate Reliance Industries topped the gainers list in the Sensex pack.

The broad-based NSE Nifty went up by 41.55 points or 0.38 per cent to 10,809.20.

Sensex up 149 points, Nifty tops 10,800 in early trade

All the sectoral indices, led by healthcare, realty, and power, were trading in the green with gains of up to 0.86 per cent.

A fresh selling of the greenback by banks and exporters backed up the rupee.

Rupee jumps 8 paise against dollar in early trade

Rupee is trading at 67.57 against the US dollar in early session on Thursday after the American currency weakened overseas.

The BSE Sensex plunged around 262 points to end at a two-week low of 35,286.74 on Tuesday, tracking a sell-off across Asian and European markets after the US and China escalated their trade dispute.

Sensex tanks 261 points as US-China trade spat escalates

The 30-share barometer opened positive, but soon fell on widespread selling.

Companies

Telecom service provider Bharti Airtel on Wednesday outlined its network expansion blueprint for Andhra Pradesh and Telangana for 2018-19, entailing addition of over 15,000 new mobile sites and over 3,000 km of optic fibre.

Airtel to add 15,000 new mobile sites, optic fibre in AP, Telangana

Last year, over 10,000 new sites were deployed in Andhra Pradesh and Telangana.

The government is committed to the strategic disinvestment of Air India, Union Minister Jayant Sinha said on Wednesday.

Govt committed to Air India's strategic disinvestment, says Sinha

The process for selling 76 per cent stake in the airline is over now.

The scheme may not result in optimum value for shareholders.

Fortis pulls out of amalgamation scheme with Fortis Malar, SRL

The scheme could not be completed even after 19 months due to reasons beyond the company's control.

The Department of Telecom (DoT) is likely to approve on Monday the merger of Vodafone India and Idea Cellular that will create the country's largest mobile service operator with proposed name of Vodafone Idea Ltd.

Telecom department likely to approve Vodafone-Idea merger today

Idea and Vodafone have decided to combine their operations to create the country's largest telecom operator.

Ramdev-promoted Patanjali Ayurved has questioned the eligibility of rival bidder Adani Wilmar under the provisions of the Insolvency and Bankruptcy Code (IBC).

Patanjali questions Adani Wilmar’s eligibility to bid for Ruchi Soya

Patanjali wants the other bidder to be disqualified under the provisions of Section 29A of IBC.

Autos

We reckon this concealed MPV could be based on the same modular platform as the Kwid hatchback.

Renault’s Kwid-based MPV is on its way

We reckon this concealed MPV could be based on the same modular platform as the Kwid hatchback.

The country's largest two-wheeler maker Hero MotoCorp has increased its lead over rival Honda Motorcycles and Scooters India (HMSI) to over 2.15 lakh units in the first two months of the current fiscal. (Photo courtesy: Bikeadvice)

Hero MotoCorp expands lead over HMSI in first two months of fiscal

Hero has also been able to regain some of the market share which it had lost to competition over the past few years.

Italian super bike maker Ducati on Tuesday launched Multistrada 1260 in India priced at Rs 15.99 lakh (ex-showroom).

Ducati drives in Multistrada 1260 in India at Rs 15.99 lakh

The superbike range comes with various features like traction control and cruise control.

Italian superbike manufacturer Ducati has set up its exclusive dealership in the city, taking the total such facilities to eight across the country.

Ducati expands retail footprint, opens dealership in Chennai

The showroom would also retail complete range of apparels and accessories of both Ducati and Scrambler brand.

In Other News

A peak tax rate of 28 per cent plus states levying some amount of local sales tax or VAT on petrol and diesel is likely to be the tax structure when the two auto fuels are covered under the GST regime, a top government official said.

No pure GST on petrol, diesel; 28 pc tax plus VAT on anvil under GST

The timing of including petrol products in GST will be a political call.

Less than a year after banks and post offices were asked to set up Aadhaar facility on their premises, as many as 18,000 centres have come up for enrolment and updation of the biometric ID at such locations, UIDAI CEO Ajay Bhushan Pandey has said.

18,000 bank branches, post offices have Aadhaar facility now: UIDAI

UIDAI had in July last year asked private as well as public sector banks to set up Aadhaar facility.

The goods and services tax (GST) introduced to track the trail of transaction has in fact increased illegal activities in terms of billing by multiple times.

GST increased illegal activities 4-5 times in terms of billing

The govt has not started to crosscheck input and output tax, hence the malpractice is continuing unabated.

By growing HNI population by 20.4 per cent and HNI wealth by 21.6 per cent, India also inched up to the 11th position in the list of countries with HNI population.

India shows fastest growth in wealth and HNI population

Indian property prices too grew by 4.8 per cent in 2017 as compared to 2.7 per cent in 2016.

Narendra Modi on Wednesday said his government has doubled the budget for agriculture to Rs 2.12 lakh crore to achieve its objective of doubling farm income by 2022. (Photo: PTI)

Agri budget doubled to help double farm income by 2022, says Modi

Modi said the country is not just witnessing record foodgrain production but milk, fruit and vegetable output too are at all-time highs.