Reverse Gear: August auto sales slump 23.55%

New Delhi (IANS) The slump in domestic automobile sector continued unabated in August as the overall sectoral off-take plunged 23.55 per cent.

The industry which is suffering from high GST rate and lack of adequate liquidity…

Insolvency proceedings start against Raheja Builders

New Delhi (IANS) The National Company Law Tribunal (NCLT) has begun insolvency proceeding against the real estate firm Raheja Developers. As a part of the process, a public notice has been issued informing creditors to submit their claims against…

Zomato lays off 541 staffers, says blame it on automation

New Delhi (IANS) Food delivery platform Zomato on Saturday said that it has laid off 541 people -- 10 per cent of the company's strength -- across customer, merchant and delivery partner support teams.

The reason behind…

Relief measures for exporters on the anvil

New Delhi (IANS) In a bid to prop up exports, a key engine of economic growth, the government may offer a slew of sector-specific incentives.

Among the proposals being considered are raising export credit, extending tax benefits and cutting…

Centre to infuse Rs 12,000 cr in state general insurance firms

New Delhi (IANS) Following the recapitalisation of public sector banks (PSBs), now public sector insurance companies -- National Insurance, Oriental Insurance and United India Insurance -- are going to be infused with funds worth Rs 12,000 crore to…

Sensex opens 140 points up on positive global cues

Mumbai (IANS) Indian stocks opened higher on Friday in line with gains in the global markets over hopes of a trade truce between US and China.

The US and China, involved in an expensive trade war, are scheduled to resume talks next month.

Wipro gets $300-million ICICI Bank deal via Vara Infotech

Bengaluru (IANS) Wipro secured a $300-million (Rs 2,156 crore) seven-year deal from the country's leading private sector bank ICICI Bank through Vara Infotech for providing a suite of services, said the IT major on Thursday.

"As Vara…

NCLAT allows promoters to regain control of firms at liquidation stage

New Delhi (IANS) Opening up a new window for promoters looking to retain control of their companies facing bankruptcy proceedings, the National Company Law Appellate Tribunal (NCLAT) has held that shareholders and owners can reach a settlement with…

Trump tariff-hit US firms keen to relocate to India from China

New York (IANS) About 200 US companies have expressed interest in coming from China to India, according to Mukesh Aghi, the president of US-India Strategic Partnership Forum (USISPF).

The organisation, which promotes bilateral business and…

Centre to announce measures for real estate this week

New Delhi (IANS) After a slew of reform measures announced in the past fortnight, the Central Government is likely to come up with major announcements to boost the real estate industry this week.

According to official sources, the package for…