Trump says US tariffs on China having 'major effect'

Washington (IANS) US President Donald Trump has said that the tariffs imposed by his administration were taking a toll on China's economy, causing the Asian giant's growth rate to slow.

"China's 2nd Quarter…

Slowdown woes: Ashok Leyland temporarily shuts Pantnagar plant

Mumbai (IANS) Commercial vehicle maker Ashok Leyland on Monday said that owing to the "weak demand and outlook for the industry", it will close its Pantnagar plant in Uttarakhand for 9 days.

"The Company's Plant situated…

Bhushan Power fraud: Allahabad Bank down 11%

Mumbai (IANS) In reaction to the Rs 1,774.82 crore Bhushan Power & Steel Ltd (BPSL) fraud that Allahabad Bank reported in the weekend, its scrips fell by over 11 per cent during the early trade on Monday.

At 9.22 a.m., the state-run…

IGE says Gangwal limited his financial risks in IndiGo

New Delhi (IANS) InterGlobe Enterprises (IGE), a promoter of IndiGo, said on Sunday that Rakesh Gangwal has always limited his financial risk in the airline and also alleged that he pushed for selling the business at difficult times.

In a bid…

Jalan Panel may recommend Rs 50Kcr transfer from contingency fund

New Delhi (IANS) The Bimal Jalan panel, which is looking into the size of capital reserve that the Reserve Bank of India should hold, may recommend transfer of Rs 50,000 crore to the Centre from the contingency fund. The panel will submit its report…

Infosys net up 5.1% yearly, down 6.8% quarterly

Bengaluru (IANS) Global software major Infosys on Friday reported Rs 3,798-crore consolidated net profit for the first quarter (Q1) of fiscal 2019-20, registering 5.1 per cent annual growth from Rs 3.612 crore in the same period a year ago.

Sequentially,…

SBI waives charges on online transactions

New Delhi (IANS) Lending major State Bank of India (SBI) on Friday said that it has waived charges on RTGS and NEFT transactions with effect from July 1.

In a statement, the bank also announced waiver of charges on IMPS (immediate payment service)…

Banks in big loss or under PCA to be barred from buying NBFC assets

New Delhi (IANS) State-run lenders currently under the RBI's Prompt Corrective Action (PCA) framework on account of bad loans and heavily loss making banks may not be allowed to buy the pooled retail assets of non-banking finance companies (NBFCs)…

Sensex down 40 pts ahead of CPI, IIP

Mumbai (IANS) Sensex and Nifty traded slightly lower during the early trade on Friday ahead of the release of key data points, Consumer Price Index (CPI) and Index of industrial production (IIP).

IIP data for May and CPI inflation for June…

KRAS bags $100 mn order for 1,000 Barak missiles

Hyderabad (IANS) Kalyani Rafael Advanced Systems (KRAS) on Thursday received a $100 million contract from top Israeli arms firm Rafael to supply 1,000 Barak-8 MRSAM missile kits for the Indian Army and Air Force.

KRAS, India's first private…