Future Retail, 7-Eleven scrap agreement for India

New Delhi (IANS) Future 7-India Convenience Limited, Future Retails wholly owned subsidiary, and 7-Eleven Inc have mutually terminated the agreement to execute 7-Eleven stores in India.

The master franchise agreement was originally executed…

Rebound Galore: Moody's changes India's rating outlook to stable

New Delhi (IANS) Global ratings agency Moody's Investors Service on Tuesday changed India's ratings outlook to stable from negative.

Accordingly, Moody's affirmed the country's foreign-currency and local currency long-term issuer…

Aircraft under bridge: AI says plane sold earlier

New Delhi (IANS) A social media clip showing an aircraft in Air India colours getting stuck under a foot-over-bridge was sold by the airline and was being transported by its new owner.

According to an airline official, older aircraft are generally…

Three-tier GST rate structure likely by next fiscal

New Delhi (IANS) The next few meetings of the GST Council would take the country's new indirect tax regime closer to the goal of providing a transparent tax system with minimal exemptions and fewer rates.

Sources working on the GST rate…

Petroleum taxes to take govt's excise collections to historic high levels in FY22

New Delhi (IANS) Petroleum taxes are set to give big bonanza to the government in FY22 as the recovering economy and improved demand is set to increase its excise collections over the highest ever level reported in pandemic hit FY21.

As per…

Flipkart sees 40% growth in early access Big Billion Days sales

Bengaluru (IANS) Flipkart on Sunday said it saw a 40 per cent growth in early access sale for Flipkart Plus customers as compared to last year, as the commerce platform kicked off 8th edition of 'The Big Billion Days' (TBBD) festive sales.

After oil, gas price may see surge upsetting CNG, PNG rates

New Delhi (IANS) After the crude oil surge, global gas prices are expected to soar this year, putting consumers in India at the risk of inflated CNG and PNG rates.

As per an assessment of the gas market done by Kotak Institutional Equities…

Divestment Bound: AI staff to vacate accommodations in 6 months

New Delhi (IANS) National carrier Air India has been asked by the Centre to ensure that its employees vacate the company-provided accommodations within six months from the divestment of the airline or the monetisation of properties.

Accordingly,…

Air India's new owner to be decided in next few days: Sources

New Delhi (IANS) The new owners of Air India will be decided in the next few days as the financial bids for the flag carrier are being scrutinised, sources said on Friday.

Besides, conglomerate Tata Sons, which is one of the bidders, is touted…

E-com players gear up for record festive sales as India reopens

New Delhi (IANS) Amid the pandemic last year, Indian shoppers helped e-commerce platforms clock $7.4 billion (about Rs 52,000 crore) in total gross merchandise value (GMV) during the festive months (October-December). This year, as retail shops reopen…