Regulations
SC to hear plea to restrain Mallya from leaving country
New Delhi : The Supreme Court will hear on Wednesday a plea by the consortium of banks led by the State Bank of India seeking to restrain beleaguered liquor baron Vijay Mallya from leaving the country.
 
The apex court bench of Chief Justice T.S. Thakur and Justice U.U. Lalit agreed to hear the plea after Attorney General Mukul Rohatgi mentioned the matter on Tuesday for an early hearing.
 
The consortium of banks has sought the impounding of NRI Vijay Mallya's passport.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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COMMENTS

manoharlalsharma

9 months ago

it is learned from media that he already out of country and enjoying with his son quality time.

B. Yerram Raju

9 months ago

Judiciary should demonstrate through quick resolution of all legal disputes relating to the financial sector through exemplary punishments where required and also dispassionately give opportunity to those borrowers who have been slapped with acquisition proceedings on many a small borrower to cover up the banks' supervisory and monitoring lapses.

Women outnumber men when it comes to Google Search in India
New Delhi : When it comes to Google Search, more and more Indian women across age groups are using the search engine -- outnumbering men by a whooping margin -- on issues ranging from beauty and fashion to health and fitness, the company has revealed.
 
Middle-aged women in the age group of 35-44 years are spending more time on Google Search, outnumbering the growth of middle-aged men by a whopping 123 percent, the company has revealed. 
 
This is year-on-year (YoY) growth measured in terms of “time spent in minutes” on Google Search, the company said in a statement on Tuesday.
 
“The internet is playing an incredibly important role in changing the lives of women in India. It is great to see how women are taking to the internet in greater numbers and increasing their time spent, even outpacing the time spent by men,” Google said.
 
Interestingly, the search engine also recorded a significant uptake in search usage by upper middle-aged women (above 55 years).
 
In 2015, this category outgrew the younger women user base (age group of 15-24 years) and working women (age group of 24-35 years).
 
In terms of growth in “search minutes,” women outnumber men in younger age-groups as well. In the 15-24 age-group time spent by women grew by 110 percent as compared to 104 percent by men. 
 
In the 25-34 age-group, time spent by women grew by 108 percent as compared to 98 percent by men.
 
Google also revealed that there are more mothers using Google search when compared to fathers. One in three (33 percent) women who are mothers are on the web while only one in four fathers are on the web.
 
“This trend is likely to continue growing as India’s vast rural population of over 800 million comes online and experiences the power of the internet,” the company said. 
 
Interestingly, this is not just limited to the fashion and beauty segments. 
 
Women are outpacing men on searches in their fascination for food being three times higher, same is the case with entertainment (family television) and finally two times higher interest even around health and fitness.
 
India currently holds the world’s third largest internet user base after China and the US with approximately 325 million active users. 
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

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Nifty, Sensex hit a resistance – Tuesday closing report
Nifty may dip to 7,350
 
We had mentioned in Friday’s closing report that Nifty, Sensex were headed higher subject to dips and that Nifty had bounced off long-term support and might head towards 7,700. The major indices of the Indian stock markets ended flat on Tuesday, after being range-bound during the day. The trends of the indices during the course of Tuesday’s trading are given in the table below:
 
 
The market indices failed to gain momentum on Tuesday after the long week-end, as the markets were closed on Monday for Mahashivaratri.  Trading was quiet in the market with no losses and no further upswing. Sector-wise, the S&P BSE metal index, oil and gas index and basic materials index gained, while banking index went down among the BSE indices.
 
Finance Minister Arun Jaitley on Tuesday said the government was withdrawing one of the much-resisted budget proposals to partially tax withdrawals from the employees' provident fund accounts. 
 
China's exports fell by 20.6% to $126 billion while imports dropped by 8% to $941 billion in February, customs data showed on Tuesday. The monthly foreign trade surplus shrank by 43.3% to $321 billion in February, down from $624 billion in January, Xinhua news agency reported. Total foreign trade value in February fell by 15.7%, a steeper decline than the 9.8% contraction seen in January. Trade with China's biggest trade partner, the European Union, dropped by 9.7% in the first two months of 2016. In the same period, trade with the US, its second biggest trade partner, went down 12.2% and that with the Association for Southeast Asian Nations (Asean), the third largest trade partner, dipped 14.9%. Foreign trade in the first two months was 12.6% lower than 2015 with exports down 13.1% and imports down 11.8%. In the first two months of this year, the trade surplus narrowed by 15.9% to $946 billion. In dollar-denominated terms, China's exports fell 25.4% in comparison with 2015, worsening from the 11.2% decline in January. Imports dropped by 13.8%, a moderate decrease in comparison with 18.8% in January. Shanghai composite closed flat. Tokyo’s Nikkei was down 0.76% while Hang Seng was down 0.73%.
 
The US stocks closed mixed on Monday amid surging oil, as investors tried to lock in gains after a three-week rally. The Dow Jones Industrial Average rose 67.18 points, or 0.40%, to 17,073.95. The S&P 500 edged up 1.77 points, or 0.09%, to 2,001.76. The Nasdaq Composite Index fell 8.77 points, or 0.19%, to 4,708.25. Oil prices continued to rally on Monday after last week's solid gains, with Brent crude settling above $40 a barrel, as data showed oil producers are cutting output amid low prices. Meanwhile, with no major economic data due out Monday, investors were still digesting Friday's jobs report. The US total non-farm payroll employment increased by 242,000 in February, well above market expectations, and the unemployment rate was unchanged at 4.9 percent, the US Labour Department announced on Friday.
 
Automobile giant Tata Motors has signed a strategic agreement with Bharat Forge Limited and US' General Dynamics Land Systems (GDLS) for the Indian defence ministry's Future Infantry Combat Vehicle (FICV) programme, a statement said on Monday. The Indian auto major will lead the consortium, with Bharat Forge Limited as a partner, while General Dynamics Land Systems will bring in its much proven expertise in combat vehicle platforms. The automobile company will play on its strengths related to design, development and integration of mobility platforms, it said in a statement. Pune-based Indian multinational Bharat Forge, part of Kalyani Group - a $2.5 billion conglomerate - will bring on board its competence with fighting platforms and manufacturing strengths. The US company's proven expertise, as SOSI (a system of systems integrator) in various integrational programmes, will be leveraged by the consortium. To be developed under the 'Make Category', the FICV is a high mobility armoured battle vehicle, for infantry men to keep pace with new advancements in weaponry system. Tata Motors shares closed at Rs345.70, up 0.63% on the BSE.
 
The top gainers and top losers of the major indices are given in the table below:
 
 
The closing values of the major Asian indices are given in the table below:
 

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