Railways incurred loss of over Rs 400-cr on freight: CAG

NEW DELHI: Railways incurred a loss of more than Rs 400 crore due to carrying of freight traffic by the longer route and charging by shorter routes, according to the Comptroller and Auditor General of India. A latest CAG report reveals that railways was regularly carrying freight traffic on longer routes and charging by the […]

India home to 70 billionaires; Mukesh Ambani richest: report

NEW DELHI: India is home to the fifth largest group of billionaires in the world and Mukesh Ambani, chairman of Reliance Industries, is the country’s richest man with a personal fortune of $18 billion, says a report. According China-based research firm Hurun’s 2014 global rich list, Mukesh Ambani was ranked 41st in the list that […]

NDMA grant to India will benefit Pak: SAARC Chamber

NEW DELHI:Normalising trade relations with India and granting it non-discriminatory market access (NDMA) will help Pakistan more, SAARC Chamber of Commerce and industry said today. The chamber’s President Vikramjit Singh Sahney also said that opening up of Wagah-Attari border 24×7 as well as setting up of trade facilitation centre would further enhance trade relations between […]

JLR to invest 100 million pounds in Saudi Arabia for new plant

LONDON: Tata Motors-owned Jaguar Land Rover (JLR) is planning to invest 100 million pounds into a new factory in Saudi Arabia to make 100,000 cars a year to meet the booming demand in the Middle East region. The UK-based luxury car maker is close to signing a deal with the Saudi government to build an […]

China emerges as India’s top trading partner: study

NEW DELHI: India-China trade has reached  $49.5 billion with 8.7% share in India’s total trade, while the US comes second at $46 billion with 8.1% share and the UAE third at $45.4 billion with 8% share during the first nine months of the current fiscal, the study revealed. The UAE was India’s biggest trading partner […]

Inflation mostly driven by primary articles: Report

MUMBAI: Primary articles led by food items have the highest share in overall price index at a whopping 35.7% and are mainly responsible for high inflation, Care Ratings has said in a report. The manufactured items basket, though having the highest weight, contributes the least to the overall inflation index, it said. This is despite […]

Yamaha India’s sales up 32.5% in February

Mumbai:Japanese two-wheeler maker Yamaha today reported a 32.5 per cent increase in sales at 42,548 units in February 2014. The company had sold 32,097 units in the same month last year, Yamaha Motor India said in a release here. The Auto Expo 2014, new product launch along with innovative ongoing customer-centric activities boosted the volumes […]

Foxed by ghost investors, Sebi seeks foreign help in Sahara case

NEW DELHI: As Sebi sifts through “hopelessly mixed up” documents submitted by Sahara, chances remain very low of finding genuine investors and the market regulator suspects it to have provided details of mostly “ghost or fictitious” investors. Making things worse, there has been a considerable delay in response from central agencies and state governments from […]

DoT to allocate spectrum to winning companies by May

NEW DELHI: The Department of Telecom will take about 2 months to allocate 1800 Mhz band spectrum won by companies in the February auction. “1800 Megahertz spectrum should be allocated in about two months from the date companies make payment,” Telecom Secretary MF Farooqui told PTI. Airtel, Vodafone, Idea Cellular, Reliance Jio Infocomm, Aircel, Reliance […]