While the French government said French companies have the full freedom to select Indian firms for the deal, Dassault Aviation, the makers of Rafale, said it had made the decision to partner with Reliance Defence Ltd.

According to Gorman, the rupee's depreciation is not a reflection of poor economic management, rather an \"unfortunate consequence\" of external factors.

The idea is to increase the excise duty on IMFL, especially on the largely consumed mid-segment liquors, and then reduce taxes on petrol and diesel.

In July, China cut import tariffs on almost 1,500 consumer products ranging from cosmetics to home appliances as part of efforts to open up its economy, the world's second biggest.

Dimon said that India's world beating economic growth as well as critical reforms such as GST and the first step in bank mergers are advantages that far outweigh fears arising out of macroeconomic imbalances and a sliding currency

Alibaba is the first foreign company to openly claim it's ready to accept the data localisation rules, while other prominent giants like Amazon, Microsoft, American Express, Google and Facebook have shown reluctance.

The global movement towards digital health has many implications for the Indian healthcare sector.

The Ministry of Electronics and IT (MeitY) is drafting another letter asking the Facebook-owned platform to design a technology-led solution to trace the origins of incendiary messages.

Air India is just about managing to stay afloat on the Rs 30,000 crore bailout package extended by the previous UPA regime in 2012 for a decade.

Income tax officials inspect books of Jet Airways in Mumbai, Delhi officesThe Income Tax Department on Wednesday swooped down on the premises of Jet Airways in Mumbai and Delhi to carry out an inspection of the books of the crisis-ridden airline for alleged falsification of accounts and siphoning of funds. As many as 50 tax officials are reported to have been pressed into action for the survey operation under Section 133A of the Income Tax Act at the Naresh Goyal-led airline's And...

The Danish bank detailed compliance and control failings amid growing calls for a European Union crackdown on financial crime after a series of money laundering scandals which have attracted the attention of USauthorities.

The DoT had reportedly barred Huawei Technologies and ZTE Corp from the list of companies allowed to work with local companies in 5G technology-based trials due to \"security\" concerns.

In July, a government panel recommended that all \"critical personal data\" should be processed in India, and presented a draft bill that could affect how global firms store customer data.

Following a review of the economy by Prime Minister Narendra Modi last week, the government announced an array of measures to check the decline of rupee and curb the widening current account deficit (CAD).

The government's latest measures to support the rupee announced last week were particularly underwhelming for market participants who have since increased bearish positioning on the currency.

India's steel imports totaled $6.5 billion in 2017/18, according to official data.

On Tuesday, the rupee closed at its all time low of 72.98, falling 47 paise against the US currency due to surging crude oil prices and escalating trade war worries. Earlier in the day, the Indian currency hit a historic low of 72.99 in late afternoon deals.

The rupee fell 46 paise to close at 72.97 level, its lowest ever against the US dollar in trade today which dampened market sentiment. The Indian currency had closed at 72.51 to the dollar on Monday. Led by the sharp fall in stocks, the market capitalisation (m-cap) of BSE-listed companies plunged by Rs 2,72,549.15 crore to Rs 1,53,64,470 crore since Friday.

Bank of Baroda, Dena Bank and Vijaya Bank to merge; govt promises to protect employees' interestsMoving ahead with consolidation of public sector banks, Finance Minister Arun Jaitley on Monday announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank. The merged entity would be India's third largest. There will be no adverse impact on employees of merged entity, the Finance Minister added. Department of Financial Services Secretary Rajeev Kumar said that the new bank will ...

The first wave of import curbs will include items like luxury cars, high-end mobiles, steel, aluminum, electronic items and furniture. Other items added to the list are dry fruits and imported fruits like almonds, and alcoholic beverages.