Confirm willingness to fund debt owned to lenders: FRL independent directors to Amazon

New Delhi (IANS) Future Retail's independent directors have asked e-commerce giant Amazon if it is willing to fund Rs 3,500 crore to repay the retail company's lenders.

Notably, the question to Amazon was posted after the e-commerce…

IDBI Bank's Q3FY22 net profit up 53%

New Delhi (IANS) IDBI Bank on Friday reported a rise of 53 per cent in its net profit for Q3FY22 on a year-on-year basis, at Rs 578 crore as against Rs 378 crore reported for Q3FY21.

Besides, the bank's net interest income improved by 31…

Budget expected to restore consumer confidence

New Delhi (IANS) To restore consumer confidence, which was severely dented by waves of the Covid-19 pandemic and to sustain the growth recovery, the Budget is expected to provide support through various measures.

It will also have to give clear…

FII outflows plunge equity indices; Sensex, Nifty settle 1% down

Mumbai (IANS) Outflow of foreign funds plunged India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- deeply in the red on Thursday.

Besides, global inflationary woes as well as rise in crude oil prices supported the downtrend.

Equities fall further, Sensex down over 400 pts on Thursday

New Delhi (IANS) The 30-scrip Sensitive Index (Sensex) and broader 50-scrip Nifty on National Stock Exchange extended their losses on Thursday from the previous session due to renewed fund outflow by FPIs and in line with bearish trend in the US market…

Budget to focus on fiscal consolidation while pushing private capex

New Delhi (IANS) Union Budget 2022 will focus on gradual fiscal consolidation while pushing public capex, creating a conducive environment for private capex, and raising resources via strategic divestments, Morgan Stanley said in a report.

The…

Air India curtails US operations due to 5G roll-out

New Delhi (IANS) National carrier Air India will not be able to operate a number of US-bound flights on Wednesday, the airline said.

Accordingly, the airline informed passengers via it's official Twitter handle that it will not be able…

Markets stable in last 10 years' pre-Budget trade, bloomed afterwards

Mumbai (IANS) In the last 10 years, Indias key equity indices have mostly been range-bound during pre-Budget days, only to bloom after the tabling of the Bill in the Parliament.

In fact, the Union Budget remains the most important trigger for…

Vikram Dev Dutt named Air India's new CMD

New Delhi (IANS) Senior bureaucrat Vikram Dev Dutt was on Tuesday named as the new Chairman and Managing Director of Air India.

The Appointments Committee of the Cabinet (ACC) approved Dutt's appointment as the CMD of Air India in the rank…

Apple, Samsung give $5 bn thrust to India's local manufacturing scheme

New Delhi (IANS) As India renews its thrust on local manufacturing of electronics under the production-linked incentive scheme (PLI) with Union Budget 2022-23 around the corner, Apple and Samsung alone are expected to manufacture/assemble smartphones…