Business
Swiggy to engage 2,000 women for food delivery Swiggy to engage 2,000 women for food delivery

 

Bengaluru, Leading food ordering and delivery start-up Swiggy on Tuesday said it would engage about 2,000 women as delivery personnel by March 2019.

"About 2,000 women will join our delivery team by March next year. Over the last few months, we have been working on training women for opportunities in this growing food delivery sector," the city-based online food delivery platform said in a statement here.

Sensex jumps 760 points to reclaim 34,000-mark Sensex jumps 760 points to reclaim 34,000-mark


Mumbai,  The benchmark Sensex jumped 760 points on Monday to reclaim the 34,000-mark, as investors stepped up purchases after a bout of declines last week.

Healthy buying was witnessed across all the 19 sectors on the BSE, led by banking, finance and healthcare stocks.

At 3.16 p.m., the S&P BSE Sensex traded at 34,111.19, up 761.88 points or 2.28 per cent from its previous close of 33,349.31.

GST likely to have 3-rate structure in future: Bibek Debroy GST likely to have 3-rate structure in future: Bibek Debroy

 

New Delhi, The current four-slab GST rate structure is likely to be reduced to three as the process of rationalising India's new indirect tax regime proceeds further, the Prime Minister's Economic Advisory Council (PMEAC) Chairman Bibek Debroy said on Friday.

In his address at the launch here of "GST: Explained for Common Man" written by former Central Board of and Excise and Customs Chairman Sumit Dutt Majumder, the PMEAC Chairman noted that only very few countries that have implemented GST follow the principle of "dual GST" (Goods and Services Tax) whose "terminal role from an economists point of view is to have a single tax structure."

Sensex down 300 points over weak macro, negative global cues Sensex down 300 points over weak macro, negative global cues

 

Mumbai,
Negative global cues along with an worrying macro-economic situation and mixed start to the corporate earnings season subdued key domestic indices during the afternoon trade session on Tuesday.

"The weakness in the market is because of the overall negative trend in the market, domestic as well as globally. The quarterly results are mixed adding to the negative sentiments among the investors but its just the start of the results season..," Astha Jain, Hem Securities told IANS.

Tesla launches new 'Model 3' with mid-range battery Tesla launches new 'Model 3' with mid-range battery



San Francisco, Electric car maker Tesla has announced a version of "Model 3" with a new 'mid-range' battery pack for $45,000 before incentives.

The new version, which was never announced, is coming as a surprise and it changes the whole pricing structure of "Model 3", Electrek reported on Thursday.

"Costs $35k after federal and state tax rebates in California, but true cost of ownership is closer to $31k after gas savings," Tesla CEO Elon Musk wrote on Twitter.

Petrol, diesel prices down for the first time since relief measures Petrol, diesel prices down for the first time since relief measures


Mumbai, Lower crude oil cost pulled the prices of key domestic transportation fuels -- petrol and diesel -- lower in the national capital on Thursday by 21 and 11 paise respectively.

According to the IndianOil Corporation's data, petrol was priced at Rs 82.62 per litre in the national capital, down from Rs 82.83 on Wednesday.

ASUS unveils 2 smartphones in India ASUS unveils 2 smartphones in India



New Delhi, Taiwanese smartphone maker ASUS on Wednesday launched ZenFone "Lite (L1)" and "Max (M1)" at the introductory price of Rs 5,999 and Rs 7,499, respectively, in India.

Both the online-focused smartphones support dual SIM, are powered by Qualcomm Snapdragon 430 Octa-core Processor and run on Android Oreo with Zen User Interface (UI) 5.0, the company said in a statement.

Nokia, BSNL partner to create 5G ecosystem in India Nokia, BSNL partner to create 5G ecosystem in India


New Delhi, Nokia and the government-owned telecom operator BSNL on Tuesday announced to work together to leverage 4G LTE technology for enabling greater operational efficiency at Nokia's Chennai plant and prepare it for the 5G era with smart manufacturing.

Mumbai bank loses Rs 143 cr in cyber fraud Mumbai bank loses Rs 143 cr in cyber fraud



Mumbai, The State Bank of Mauritius' (SBM) Mumbai branch has been gypped of nearly Rs 143 crore after unknown fraudsters hacked into its accounts here, an official said on Friday.

Sensex falls 760 points amid global sell-off, weak rupee Sensex falls 760 points amid global sell-off, weak rupee


Mumbai, India's key stock indices slumped, settling over 2% lower, as concerns global growth will suffer due to the tariff war between the United States and China triggered fund outflows from equities around the world.

International Monetary Fund head Christine Lagarde's comments that stock market valuations had been "extremely high", spurred a meltdown in the US markets overnight, spilling over to Asia on Thursday.

In a volatile trading session on Thursday, the barometer index, Sensex, had crashed over 1,000 points at one point.

Expectations that the US Federal Reserve would continue to tighten rates also hurt demand for the Indian currency and equities.

Nine killed in SAIL factory blast Nine killed in SAIL factory blast

 

Bhilai At least nine people were killed and several others injured on Tuesday in a blast at a gas supply pipeline in Bhilai Steel Plant, the flagship unit of Indias largest steel maker in public sector.

"It was a major incident. Nine people have died so far," Vijay Mairal, the spokesperson of the Bhilai Steel Plant, told IANS. He added that the death toll could go up.

Rupee closes at fresh low of 74.07 to USD Rupee closes at fresh low of 74.07 to USD



Mumbai, The Indian rupee ended Monday's session on a fresh closing low of over 74 to a US dollar.

The Indian rupee closed at 74.07 (74.0650) per US dollar, 30 paise weaker than its previous close of 73.77.

It opened the day's trade at the Inter-Bank Foreign Exchange Market at 73.96 against the greenback.

RBI holds repo rate, but changes stance to 'calibrated tightening' RBI holds repo rate, but changes stance to 'calibrated tightening'

 

Mumbai, Belying market expectations of a hike, the RBI on Friday held its key lending rate unchanged in the context of an uncertain global economic scenario but turned hawkish, moving to a "calibrated tightening" from the "neutral" stance it has maintained over its six previous policy reviews.

Announcing the fourth bi-monthly policy review of the fiscal, Reserve Bank of India (RBI) Governor Urjit Patel said the Monetary Policy Committee (MPC) has decided to keep the repo, or the short term lending rate for commercial banks, unchanged at 6.5 per cent.

RBI may hike repo rate by 25 bps on Friday RBI may hike repo rate by 25 bps on Friday


Mumbai, The Reserve Bank of India is widely expected to increase its repurchase rate by 25 basis points (bps) when it unveils the monetary policy on Friday, as it seeks to curb the potential inflationary impact from rising crude oil prices and a weakening currency.

At its bi-monthly review in August, the central bank lifted the key short-term lending rate, also called repo rate, by 25 basis points for a second straight time to 6.5 per cent, citing upside risks to inflation on account of an increase in the minimum support price for crops, and higher crude oil prices.

Air India revival package to be ready soon: Minister Sensex sheds 218 points, Nifty below 11,000-mark Indian businesses worried over data privacy, cyber security: Dell survey India has potential to triple its trade with South Asia: World Bank No. 1 Co working space in Indore PuREnergy set to launch affordable lithium batteries in India Rupee crashes further, hits 72.67 per dollar Need to move towards electric mobility: Minister Rupee slips to a new low; touches 71.79/$ Weak rupee depresses equity indices; Nifty ends below 11,500 India's airlines suffering double whammy: IATA Petrol, diesel hit fresh high, rise for 9th straight day RInfra ratings rise as Mumbai power business sale cuts debt Rupee ends at lowest level of 71.21 per dollar Caution ahead of growth data pulls rupee lower; breaches 71-mark Mismanagement of economy sent rupee plunging: Congress Adani Group acquires RInfra's Mumbai power business Sensex breaches 36,700-mark; Nifty touches 11,700 point Lithium-ion batteries that don't catch fire in the offing Rupee to stabilise very soon: Official Equity indices end in red as rupee tests new low Users complain as Patanjali puts 'Kimbho' chat app on trial Reliance Jio leads India feature phone market in Q2 2018: IDC Markfed opens counter in Hongkong for sale of its products Customs duty doubled on over 328 textile products Airtel ties up with Telecom Egypt for global submarine cable systems GST slabs may be reduced to three to simplify tax system: Sanyal Choksi given citizenship after NOC from India : Antigua GST collection rises to Rs 96,483 cr RBI hikes key lending rate by 25 basis points to 6.5%