Business

Odd-even hits MPs, rocks parliament

Mon, 04/25/2016 - 18:54

New Delhi, April 25 (IANS) The odd-even traffic scheme hit lawmakers and also rocked parliament on Monday, the first day of budget session part II, with some forgetful members violating the scheme while some MPs car-pooled to arrive at Parliament House. One MP cycled it, while AIMIM leader Asaduddin Owaisi walked to parliament.

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Employees Provident Fund rate cut marginally

Mon, 04/25/2016 - 18:44

New Delhi, April 25 (IANS) In a move that will affect some 15.84 crore contributors to the Employees Provident Fund scheme, the government has cut the interest rate for 2015-16 marginally to 8.7 percent from the recommended rate of 8.8 percent.

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Manipur launches Food Security Act, people unaware of scheme

Mon, 04/25/2016 - 18:32

Imphal, April 25 (IANS) The National Food Security Act (NFSA), 2013, was on Monday formally launched in Manipur by Chief Minister Okram Ibobi Singh. However, some people said they were unaware of the scheme.

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Mercedes Benz research inaugurates third facility in Bengaluru

Mon, 04/25/2016 - 18:16

Bengaluru, April 25 (IANS) Mercedes Benz Research and Development India (MBRDI) on Monday inaugurated its third facility here, to confirm its R&D and IT expansion commitment in India and aim at digital transformation.

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Banks need more government funds or risk downgrade: Moody's

Mon, 04/25/2016 - 18:10

New Delhi, April 25 (IANS) Given their weak solvency position, India's public sector banks (PSBs) will not be able to raise funds from the market and the government will have to provide them capital support to avoid the risk of downgrade in their credit profiles, ratings agency Moody's said on Monday.

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Punjab procures 80 lakh tonnes of wheat

Mon, 04/25/2016 - 18:06

Chandigarh, April 25 (IANS) Food grain producing state Punjab has procured 80 lakh tonnes of wheat worth Rs.4,200 crore in this season, an official said on Monday.

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UltraTech Cement's Q4 net up 10 percent

Mon, 04/25/2016 - 18:04

New Delhi, April 25 (IANS) UltraTech Cement on Monday said its net profit in the fourth quarter of 2015-16 rose by 10 percent, at Rs.723 crore, against Rs.657 crore in the corresponding period of 2014-15.

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MPs violate odd-even scheme, some set example

Mon, 04/25/2016 - 17:52

New Delhi, April 25 (IANS) The odd-even scheme on Monday saw some forgetful MPs violating the traffic restriction scheme, while some other lawmakers car-pooled to reach Parliament House. One MP cycled while another walked the distance on the first day of the second half of the Budget session.

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Rajya Sabha ethics panel recommends Mallya's expulsion

Mon, 04/25/2016 - 17:46

New Delhi, April 25 (IANS) The Ethics Committee of the Rajya Sabha on Monday recommended the expulsion of liquor baron Vijay Mallya, wanted for defaulting bank loans to the tune of Rs.9,000 crore, from the upper house of parliament. He has been given a week to reply.

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Better to dance to earn livelihood than begging on streets: SC

Mon, 04/25/2016 - 17:46

New Delhi, April 25 (IANS) Taking a dig at Maharashtra government over its persistence to curb dance bars, the Supreme Court on Monday said that it was better to dance then go to streets for begging or going to "places which are not acceptable" to earn a livelihood.

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Sri Lanka to create efficient environment for investors

Mon, 04/25/2016 - 17:08

Colombo, April 25 (IANS) Sri Lanka hopes to introduce new bills in parliament by June to create a more efficient, dynamic and secure business environment conducive for investment, Foreign Minister Mangala Samaraweera said on Monday.

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GIFT City global financial centre crosses $250 mn business

Mon, 04/25/2016 - 17:00

Ahmedabad, April 25 (IANS) Gujarat International Finance Tec-City (GIFT), India's first International Financial Services Centre (IFSC), announced on Monday that it crossed $250 million worth of business transactions in the last six months.

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