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BusinessToday.In
August 17, 2018
Indian Railways plans to invest Rs 44,000 crore to build a 1,100-km greenfield freight corridor along the country's east coast to connect Kharagpur in West Bengal with Vijaywada in Andhra Pradesh.


BusinessToday.In
August 18, 2018
Pakistan's economy survives on bailout packages from global organisations like the IMF and World Bank, and allies like China and the US. PTI's chief Imran Khan, who is about to secure power from the previous government, now has an uphill task ahead to bring back the country's economy on the path to recovery. Watch BusinessToday.In video on the challenges that Imran Khan will face when he assumes office.


BusinessToday.In
New Delhi, August 9, 2018
IMF sees Indian economy as an elephant that is starting to runThe International Monetary Fund (IMF) believes the $2.6 trillion economy is an elephant that is starting to run.What's more, its latest report on India not only reaffirms that the country is \"again one of the world's fastest-growing economies\" - accounting for about 15 percent of global growth - but also that India it could be what China previously was for the world economy.The report's favourable medium-term outlook reflects continued robustness in private consumption and a recovery in investment, which is supplemented by progress in bank balance-sheet repair and improved credit growth. WhatsApp officially rolls out forward message feature; restricts limit to 5 usersInstant messaging app WhatsApp has finally rolled out the limited 'forward message' option for India, which restricts a forward message to just five users, the company said on Wednesday. The Facebook-owned company has been under fire ever since several incidents of lynching, linked to rumours spreading through WhatsApp, were reported from different parts of India. \"The limit has started to appear this week for people in India who are on the current version of WhatsApp,\" the company said in a statement on Wednesday. Ikea opens its first store in Hyderabad todaySwedish retail giant Ikea has put all its might behind the company's first store in India opening in Hyderabad. The company put in around 12 years of work and took 6 years after their announcement to open their first Indian outlet. It is finally opening today. Flipkart-Walmart deal: CCI nod to US retail giant's Flipkart acquisition for $16 billionThe Competition Commission of India (CCI) cleared the acquisition of India e-commerce major Flipkart by the United States-based retail behemoth Walmart. The approval from the competition watchdog clears the path for the biggest FDI deal in the history of Indian corporate sector. Back in May, Walmart had announced acquisition of 77 per cent stake in Flipkart in lieu of $16 billion. Once the deal is complete, the 11-year old Indian e-commerce firm will be valued at $20.8 billion.SBI launches a unified payment terminal MOPAD State Bank of India, the largest lender with a fifth of the market share, launched a payments machine that would help merchants eliminate the multiple choices that they keep to facilitate transactions from cards to QR code based payments. The new device titled MOPAD, or Multi Option Payment Acceptance Device, is a Point of Sale (PoS) terminal that would along with cards accept payments through UPI, Bharat QR, and SBI Buddy wallet which till now required different tools to receive payments as reported by the Economic Times.Flipkart co-founder Sachin Bansal has this suggestion on ownership for Indian startupsFlipkart co-founder Sachin Bansal has a suggestion on ownership for Indian startups. One of the country's newest billionaires courtesy his recent exit from the company post its $16 billion deal with Walmart, Bansal told The Economic Times that differential voting rights will be helpful for the Indian startup ecosystem, especially for entrepreneurs. Bansal's decision to sell his entire stake to Walmart was reportedly the result of differences with the investors.  Google CEO Sundar Pichai questioned by US senators over reported Chinese search engineGoogle CEO Sundar Pichai is being questioned by six US senators on reports about the company's plan to release censored search engine in China as reported by the Indian Express. Reports that came out last week stated that Google is planning a censored search engine project for China via The Information. Following these reports, six US senators including Florida Republican Marco Rubio have written to Pichai. Google has neither confirmed nor denied these reports.


BusinessToday.In
August 7, 2018
During the Budget presentation in February, then Finance Minister Arun Jaitley had projected the fiscal deficit target at 3.3 per cent of GDP for the financial year 2018-19.


BusinessToday.In
August 6, 2018
Absolute poverty has dived nearly 90 per cent since 1820, which is even more remarkable when you factor in a 7-fold jump in global population in the same time frame.


BusinessToday.In
New Delhi, August 6, 2018
Under the new bill, Pakistan is not required to take any action against Haqqani Network or the Lashkar-e-Taiba (LeT), and will also not get any reimbursement for its counter-terrorist activities in the country.


BusinessToday.In
New Delhi, August 2, 2018
From human development indicators like health and education to economic parameters like tax-to-GDP ratio, currency performance, and current account deficit, Pakistan's track record is dismal on all fronts.


Joe C Mathew
New Delhi, July 27, 2018
The introduction of the GST and enactment of Insolvency and Bankruptcy Code are considered to be the two key parameters where India made significant progress during 2017/18, say commerce ministry officials.


BusinessToday.In
July 16, 2018
Financial institutions and market analysts believe that the current dispensation has failed in creating enough jobs for its growing youth. In April, World Bank put out a report saying that India needs to create 8.1 million jobs a year to maintain its employment rate.


PTI
New Delhi, July 14, 2018
These comments from Economic Affairs Secretary Subhash Chandra Garg come on the heels of latest World Bank data showing that India has emerged as the sixth largest economy globally, surpassing France, in 2017.


BusinessToday.In
New Delhi, July 11, 2018
Indian economy had slowed down last year due to transitory shocks like demonetisation and the chaotic implementation of the national goods and services tax (GST), but has since bounced back.


BusinessToday.in
New Delhi, July 11, 2018
Andhra Pradesh tops in ease of doing business ranking; Gujarat slips to 5thAndhra Pradesh continues to be the best state to do business in the country while neighbouring Telegana has been ranked second with Haryana at the third spot, in the ease of doing business list prepared by the World Bank and the Department of Industrial policy and Promotion (DIPP). Gujarat has slipped further to the fifth rank in the ease of doing business.Aircel Maxis case: P Chidambaram, Karti get protection from arrest till August 7Former Finance Minister P Chidambaram got relief for the third time in the Aircel Maxis case from the Patiala House Court and his son Karti for the fifth time as their anticipatory bail has been extended till August 7. The Enforcement Directorate for the first time filed a reply in the case of P Chidambaram opposing his bail plea.TCS' net profit jumps 23% to Rs 7,340 crore in June quarterIT major Tata Consultancy Services Ltd's net profit rose 6.3 per cent sequentially while 23.5 per cent on YoY basis to Rs 7,340 crore in its first quarterly results declared to stock exchanges on Tuesday. The company's net profit in the same period in the previous fiscal stood at Rs 5,945 crore, the TCS said.HDFC group m-cap crosses Rs 10 lakh crore, only second after TatasDeepak Parekh-led financial services conglomerate HDFC group saw the market capitalisation of its listed firms cross Rs 10 lakh crore mark, making it only the second Indian business house after Tatas to achieve this feat. HDFC group currently has four listed entities -- housing finance major HDFC Ltd, banking behemoth HDFC Bank, life insurance firm HDFC Standard Life and Gruh Finance -- while Tatas have nearly 30 firms listed on the stock exchange.WhatsApp's new update to reach devices soon; feature to take on fake forwardsWhatsApp has started rolling out a new feature that will clearly demarcate messages that are forwards. The Facebook-owned company has released an official blog regarding the new feature where it explains how this new feature will help in their efforts to curb fake messages and fake news. Any forwarded message will have a small \"Forwarded\" label on top.


Mail Today Bureau
July 11, 2018
In last year's ranking, Andhra Pradesh had jointly topped the chart with Telangana while Gujarat was relegated to the third position from the top slot in 2015.


Ranjeev C Dubey
July 10, 2018
You can set up a maximum security biometric identity system in a high security facility with all round controlled access but the moment you take it to a national level, it develops any number of leakage points.


Sonal Khetarpal
New Delhi, July 3, 2018
According to a recent report by the International Labour Organisation (ILO), in India women spend 297 minutes per day on the care responsibilities, 9.6 times more than men. Globally, women perform 76.2 per cent of total of unpaid care work, three times as much as men.


BusinessToday.In
New Delhi, June 29, 2018
Climate change could cost India 2.8 per cent of GDP, and depress living standards of nearly half of its population by 2050, a World Bank report said. Watch BusinessToday.In's video to find out about the solutions to climate change.


BusinessToday.in
New Delhi, June 29, 2018
Climate change could eat into India's GDP, hurt living standards, says World BankClimate change could cost India 2.8 per cent of GDP, and depress living standards of nearly half of its population by 2050, as average annual temperatures are expected to rise by 1-2 per cent over three decades, a World Bank report today said. If no measures are taken, average temperatures in India are predicted to increase by 1.5-3 degrees, said the World Bank report titled 'South Asia's Hotspots: The Impact of Temperature and Precipitation Changes on Living Standards'. India's average annual temperatures are expected to rise by 1-2 degrees celsius by 2050, the report said.B Sriram steps down as SBI MD amidst IDBI Bank stake sale talksB Sriram has resigned from the post of Managing Director at the State Bank of India (SBI), days after he was appointed to lead the IDBI Bank. He was named the Managing Director and Chief Executive Officer of the IDBI Bank last week for a period of three months. He replaced Mahesh Kumar Jain at the helm of IDBI Bank on June 22, who will join the Reserve Bank of India (RBI) in the capacity of Deputy Governor. A PTI report said while quoting sources that his resignation from the board of SBI has been forwarded to Appointments Committee of the Cabinet (ACC) for approval. A decision on the matter will now be taken by a competent authority. The Committee is headed by Prime Minister Narendra Modi.Akash Ambani-Shloka Mehta engagement: SRK, Alia Bhatt, Priyanka Chopra attend star-studded bashThe couple who is currently the talk of the town - Akash Ambani and Shloka Mehta - threw a star-studded engagement bash on Thursday evening. The glam affair took place in Mukesh and Nita Ambani's Mumbai residence, Antilia. The bash was attended by the who's who of Bollywood, including Shah Rukh Khan and wife, Gauri Khan, Alia Bhatt, Ranbir Kapoor, Priyanka Chopra and her rumoured beau Nick Jonas, Karan Johar, as well as Sachin Tendulkar and wife Anjali. According to reports, the bash last night followed a traditional ring ceremony and involved all the close friends and family. A bigger party is reserved for June 30.Amazon, H&M and other multinationals pressing to soften Indian state's plastic banMultinational companies like Amazon Inc and H&M are lobbying to soften a ban against single-use plastic imposed by an Indian state last week, according to four sources familiar with the matter. Representatives of companies including Amazon, H&M, Pepsi and Coca-Cola , as well as plastic industry bodies and lobby groups, met with Maharashtra government officials days before the ban came into effect on June 23, urging them to implement the rule in phases and relax some norms, said the four sources who declined to be named.Indians' money in Swiss banks rise 50% to over CHF 1 billionMoney parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India's clampdown on suspected black money stashed there. In comparison, the total funds held by all foreign clients of Swiss banks rose about 3 per cent to CHF 1.46 trillion or about Rs 100 lakh crore in 2017, according to the official annual data released today by Swiss National Bank (SNB), the central banking authority of the Alpine nation.


PTI
New Delhi, June 28, 2018
Climate change could cost India 2.8 per cent of GDP, and depress living standards of nearly half of its population by 2050, as average annual temperatures are expected to rise by 1-2 per cent over three decades, a World Bank report said.


BusinessToday.in
New Delhi, June 28, 2018
SBI in process to shut 9 foreign offices as part of rationalisation: MDState Bank of India (SBI) has closed six foreign branches and is in the process of closing down another nine branches as part of rationalisation of overseas operations, said Managing Director Pravin K Gupta. SBI, country's largest lender, has operations in about 36 countries with nearly 190 branches. Not all the branches in the foreign locations are full-fledged offices, he said, adding that in countries like Bangladesh and South Africa there are some small branches as well as some retail branches and there is need to rationalise them.India no more a country with most number of poor peopleIndia is the world's fastest-growing economy but it's also one of the poorest countries in the world. With the population of over 1.3 billion, India is trying hard to take poor people out of the poverty line. The efforts seem to be paying, says the latest report by the Future Development blog of the World Bank's Brookings Institute. Titled as 'The start of a new poverty narrative', the report says that India is moving down in global poverty ranking. From 125 million poor people in 2016, India had just 73 million people in the poorest of the poor index as of May 2018. Nigeria has overtaken India with the largest number of extremely poor people at 87 million in early 2018.Trump's legislation to limit Chinese investment in USPresident Donald Trump today opted for a less confrontational approach to limit Chinese investment in America, which he believes at times poses a serious challenge to national security. Trump said the Foreign Investment Risk Review Modernisation Act (FIRRMA), will enhance American ability to protect the country from new and evolving threats posed by foreign investment while also sustaining the strong, open investment environment to which the US is committed, and which benefits its economy and people. Through this review, US will assess its export controls and make any modifications needed to strengthen them to defend national security and technological leadership.Govt may sell iconic Air India buildingThe government is focusing on asset monetisation of cash-strapped airline Air India. In a first major sign of its revival, the government has initiated a process for the sale of Air India's iconic building -- known as Air India Building -- in Mumbai to state-owned Jawaharlal Nehru Port Trust, India's biggest container port. PTI quoted a source claiming the proposal has got in-principle approval from Prime Minister Narendra Modi and that an inter-ministerial committee has been asked to work out modalities. The latest development is significant as asset monetisation is one of the ways the government plans to boost up the beleaguered airlineCentre proposes dissolving UGC, setting up new Higher Education CommissionThe University Grants Commission, India's national watchdog for higher education may be scrapped, as it stands. The education regulator could be replaced by a higher education commission, Union HRD Minister Prakash Javadekar said. The Higher Education Commission of India will be set up in lieu of the UGC and will emphasise on promoting excellence and facilitating the growth of the Indian education systemEnd of road for India's EVs? Babus say no to electric cars made by Mahindra, Tata MotorsIn less than a year after state-run Energy Efficiency Services Ltd (EESL) floated a tender for 10,000 electric cars amid much fanfare, India's EV growth story seems to be headed in a wrong direction. According to a report in Livemint, senior government officials have refused to use electric cars made by homegrown carmakers - Mahindra and Mahindra and Tata Motors - due to poor performance and low mileage. Out of the first lot of 500 electric vehicles in the first phase, Tata Motors was to supply 350 units of its e-Tigor, and Mahindra & Mahindra got the order for 150 cars. \"Both models failed to run even 80-82km on a single charge within city limits,\" the report quoted an official from the ministry as saying. Battery capacity was not up to the mark, compared to global standards, it said.


BusinessToday.In
New Delhi, June 27, 2018
From 125 million poor people in 2016, India had just 73 million people in the poorest of the poor index as of May 2018. Nigeria has overtaken India with the largest number of extreme poor at 87 million poor earlier this year.


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