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Business

Govt invites offers from 9 firms for CIL restructuring

The Coal Ministry has invited proposals from nine shortlisted firms, including ICICI Securities, KPMG, Ernst & Young, McKinsey, Deloitte and Crisil, for restructuring of state-run miner Coal India. “Invitation to respond to the RFP (Request for Proposal) is open to the nine firms,” the Coal Ministry said. The ministry further said it will select a […]

Business

RBI proposes new guidelines on wealth management and financial product distribution services

The Reserve Bank of India, RBI, has proposed new guidelines on wealth management and financial product distribution services offered by banks to address concerns over mis-selling, lack of adequate grievance resolution mechanism and weak internal control mechanisms. In a statement issued Friday, the Reserve Bank has suggested that that banks should set up a separate […]

Commodity

Gold hits 23-month low in Delhi, plummets by Rs 1,150

Gold prices on Friday plunged by Rs 1,150 to hit 23-month lows of Rs 25,650 per 10 grams in the bullion market in Delhi tracking weak global trends. This is the third-biggest single day decline ever. The largest fall was of Rs 1,250 in April 13 this year. In Mumbai, prices tumbled to 22-month low […]

Breaking News Business

Petrol price hiked by Rs 1.82 a litre, excluding taxes, with effect from midnight tonight

Petrol price was on Friday hiked by a steep Rs 1.82 a litre, the third increase in rates this month, as falling rupee made imports costlier. An increase in diesel rates is expected early next week. Oil companies raised petrol rates by Rs 1.82 a litre, excluding local sales tax or VAT, with effect from […]

Business

Cabinet approves setting up of regulatory authority for coal sector

The Cabinet has approved the setting up of a regulatory authority for coal sector. It also approved the introduction of Coal Regulatory Authority Bill, 2013, in Parliament. The decision aimed at regulating and conserving coal resources and protecting the interest of all stakeholders, was taken at a Cabinet meeting . Briefing the media,Finance Minister Mr […]

Business

DICT, The perfect solution to Trade and Cargoes

New Delhi : The J.M. Baxi Group, a leading name in shipping services, has invested INR 200 Crores in an integrated rail linked cargo terminal and inland container depot, ‘DICT’ to cater to the growing trade of NCR and North India; All three sectors of EXIM, domestic & Retail trades will benefit from this infrastructure. […]

Stock & Share

Sensex zooms by 520 pts as energy sector shares rally

The BSE benchmark Sensex on Friday jumped up by a staggering 520 points, its biggest single-day gain in 22 months, to close above the 19,000-mark, led by a rally in energy sector stocks, after the govt approved nearly doubling of natural gas prices, amid sharp recovery in rupee. The 30-share index started the day on […]

Business

Cabinet approves GoM recommendations for more autonomy to CBI

The Union Cabinet on Thursday approved the Group of Ministers recommendations for greater autonomy to the Central Bureau of Investigation. It will become part of the affidavit to be submitted to Supreme Court. Government will file an affidavit before the Supreme Court by 3rd July. The issue will come up for hearing on 10th July. […]

Business

ING Vysya Bank raises Rs.1,836 cr through QIP and PP

Bangalore : ING Vysya Bank Ltd successfully completed a Qualified Institutional Placement (QIP) amounting to Rs. 881 crores. 14.39 million Equity Shares of Rs. 10 each of the Bank were placed with QIBs at a price of Rs. 612 per equity share including a premium of Rs. 602 per share. A preferential allotment of 15.61 […]

Business

Singapore: The hub in Asia-Pacific for internationalizing Consumer Business Cos

Singapore: Reflecting the shifting economic centre of gravity to Asia and Singapore’s role as the hub in Asia-Pacific for consumer business companies, consumer business giant Unilever recently hosted two significant events in Singapore. Yesterday, Unilever hosted its Partner to Win (PTW) Strategic Supplier Summit in Singapore, the first time the event has been held outside […]