ECONOMY & NATION


Automobile manufacturer Ford India on Friday said that it has voluntarily recalled 5,397 EcoSport compact SUVs to inspect and rectify certain faulty components.   "Ford India is voluntarily inspecting 4,379 EcoSport vehicles, made at the company's Chennai plant between May 2017 and...

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Following a torrential downpour on Friday, the state's second capital was virtually inundated and the Maharashtra Legislature, which was in session, was plunged into darkness, forcing an adjournment till Monday.   Power was cut off to the legislature building as a precautionary...

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Moneylife Digital Team 06 July 2018
The Cabinet Committee on Economic Affairs had approved minimum support price (MSP) for summer-sown crops for the year 2018-19, which will provide farmers a profit of 50% or more over the cost of production. However, to make the MSP effective, it is thus absolutely imperative that the...

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A trade war between US and China officially began on Friday as President Donald Trump's administration imposed tariffs on $34 billion worth of Chinese products, with Beijing vowing to "fight back".   The penalties went into effect at 12:01 a.m., reports The New York...

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A day after stringent observations by the Bombay High Court, a high-level meeting of the civic and railway administrations, besides the IIT-B, on Thursday decided to start detailed audits of all 445 bridges in the Mumbai suburban railway networks area from Friday, an official said...

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Commercial banks in the country will no longer be able to transact in cryptocurrencies like Bitcoin from Friday in view of a Reserve Bank of India (RBI) directive in April.   In a bid to protect consumers and curb money laundering and other financial irregularities, the RBI had, on...

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Tata Motors Group, which owns Britain based luxury brand Jaguar Land Rover (JLR), on Thursday warned against the uncertainties arising out of the country's exit from the European Union (Brexit).   The reiteration comes after JLR said that Brexit which increases bureaucracy, reduces...

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Debt-laden Adhunik Metaliks on Thursday said its Committee of Creditors (CoC) has approved Britain-based Liberty House's resolution plan for the insolvent company.   "...the committee of creditors at the meeting held today (Thursday) approved the resolution plan submitted by the...

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The Delhi Development Authority (DDA) on Thursday issued a notification to enable planned development of private land in Delhi, official sources said.   The policy to enable the planned development of privately owned land in Delhi was approved by the DDA in December last year and the...

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Investors of Heera Islamic Business Group, better known as Heera Gold, are in a panic over payment delays and rumours about financial difficulties faced by the group, which has amassed vast sums of money by specifically targeting the Muslim community by invoking the name of “Allah” in its...

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Moneylife Digital Team 05 July 2018
A High Court in London has ordered seizure of beleaguered liquor baron Vijay Mallya's assets in Hertfordshire in UK. The Judge issued enforcement order in favour of a consortium of 13 Indian banks who were seeking recovery of loans given to Mallya and his companies.   The Court order...

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Moneylife Digital Team 05 July 2018
A High Court in London has ordered seizure of beleaguered liquor baron Vijay Mallya's assets in Hertfordshire in UK. The Judge issued enforcement order in favour of a consortium of 13 Indian banks who were seeking recovery of loans given to Mallya and his companies.   The Court order...

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 Veeresh Malik 05 July 2018
I travel a lot by train in India. I have been using Shatabdi Express trains in two different parts of India lately. On the Southern Railway route, it has been the Chennai-Bengaluru and Chennai-Bengaluru-Mysuru Shatabdi trains, all of which provide a ‘No Food’ option in addition to the usual...

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Reliance Industries' (RIL) Chairman & Managing Director Mukesh D. Ambani on Thursday said the company saw its biggest growth opportunity "in creating a hybrid, online-to-offline new commerce platform".   According to Ambani, who was addressing the shareholders at the company's 41st...

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Admiral Arun Prakash (IANS) 05 July 2018
Indias aviation industry traces its roots to December 1940, when industrialist Walchand Hirachand established Hindustan Aircraft Limited (HAL) in Bangalore (now Bengaluru), with American technical assistance and capital and land provided by the Mysore government. Soon after the outbreak of WW...

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With Jaiprakash Associates Ltd (JAL) failing to deposit Rs 1,000 crore, the Supreme Court on Wednesday asked the real estate firm to pay Rs 600 crore to pay back to the home buyers who have opted for a refund.   A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice...

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With Jaiprakash Associates Ltd (JAL) failing to deposit Rs 1,000 crore, the Supreme Court on Wednesday asked the real estate firm to pay Rs 600 crore to pay back to the home buyers who have opted for a refund.   A bench of Chief Justice Dipak Misra, Justice A.M. Khanwilkar and Justice...

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The government on Wednesday notified the Insolvency and Bankruptcy Board of India (IBBI) "Insolvency Resolution Process for Corporate Persons" regulations, 2018.   "The regulations provide that wherever the corporate debtor has classes of creditors having at least ten creditors in the...

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Taponeel Mukherjee (IANS) 04 July 2018
American investor, businessman and philanthropist Charlie Mungers famous quotation, "All I want to know is where Im going to die, so Ill never go there", is apt for a discussion on attracting private investment in Indian infrastructure. Mungers mental model of "inversion" is the relevant...

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A Supreme Court Constitution Bench on Wednesday unanimously ruled in favour of the Arvind Kejriwal government saying that the real powers of governance of Delhi rests with the elected representatives.   The apex court said the Lieutenant Governor (LG) was bound by the aid and advice...

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