Business News
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17 Aug 2016
Reserve Bank Of India (RBI)Government to bear debit, credit card payment transaction costs
On Tuesday, a memorandum issued by the finance ministry stated that the Government will bear the transaction cost for all payments made to it through debit or credit cards and net banking.
16 Aug 2016
United States of AmericaPwC sued for $5.5billion for negligence in mortgage fraud case
The bankruptcy trustee for Taylor, Bean & Whitaker sued PricewaterhouseCooper as the auditor of Colonial Bank, seeking $5.5 billion in damages.
14 Aug 2016
IndiaCipla boss calls Subhanu Saxena quits; cites family reasons
Cipla chief executive Subhanu Saxena confirmed that he would no longer be serving as the head of the company.
13 Aug 2016
FlipkartFlipkart launches office in Palo Alto
On 12th August, 2016, Indian e-commerce giant Flipkart established an office in the United States of America.
11 Aug 2016
iOSHeyBnb launches in India across 17 cities
HeyBnb made its foray into the Indian hospitality market targeting travellers seeking accommodation across various Indian cities.
10 Aug 2016
Google SearchNow, use Google to order food
Now, you will be able to order your food or book a table in restaurant just through Google.
10 Aug 2016
North AmericaTata Chemicals sells urea business to Yara India
Tata Chemicals urea business has been sold to Yara India for Rs.2670 crores on a 'slump sale' basis.
10 Aug 2016
BusinessRandstad Holdings acquires US rival Monster.com
World's second largest human resources and recruitment firm, Amsterdam-based Randstad Holdings has announced it would acquire its US-based rival Monster.com.
10 Aug 2016
IndiaHDFC and Max to merge their life insurance businesses
HDFC and Max Group announced the merger deal of their life insurance businesses.
09 Aug 2016
Alibaba GroupJet.com to be acquired by Walmart for $3bn in cash
Walmart will be acquiring Jet.com — an online-only shopping site for $3 billion in cash, plus up to $300 million in shares.
08 Aug 2016
National Green Tribunal (NGT)Now, convert Diesel/Petrol cars into Hybrid Electric ones
The bans on diesel vehicles imposed by the National Green Tribunal (NGT) has mostly received vehement reactions.
07 Aug 2016
Big BazaarBig Bazaar goes online with Future Group and Paytm Partnership
Retail company Future Group tied up with Paytm, an e-commerce mobile payment and commerce platform this month.
07 Aug 2016
IndiaIRDA issues remuneration guidelines; caps CEO's salary at Rs.1.5 cr
In a first, the Insurance Regulatory and Development Authority (IRDA) of India issued remuneration guidelines for non-executive and managing directors at insurance companies.
07 Aug 2016
Mukesh AmbaniRIL seeks to commission $35 billion worth projects in 2016-17
The Annual Report 2015-16 stated that the company seeks commissioning of projects with investment of $35 billion in 2016-17.
06 Aug 2016
San FranciscoMayogate: Hampton Creek accused of buying back its vegan mayo
Food tech start-up Hampton Creek is facing the music for buying back its own vegan "Just Mayo" under a large-scale undercover operation.
06 Aug 2016
BusinessForeign exchange reserves soar by $3 bn
According to an RBI statement, foreign exchange (FE) reserves in India went up by nearly $3 billion for week ending July 29, 2016.
05 Aug 2016
Saudi ArabiaSharp drop in foreign remittances
A steady drop in crude oil prices and a subsequent decline in remittances from Gulf countries is raising the hackles of the Indian Government.
04 Aug 2016
Union CabinetGreen signal for mega spectrum auction
The Union Cabinet has approved spectrum usage charges (SUC) to be calculated at a minimum of 3% of adjusted gross revenues.
03 Aug 2016
IndiaHealthKart raises over Rs.80 crore from Sequoia, Kae Capital
HealthKart reportedly raised Rs.80 crore from existing investors Sequoia Capital and Kae Capital, along with other investors in a Series E funding round, according to documents with the Registrar of Companies.
03 Aug 2016
IndiaJM Financial's chief Nimesh Kampani resigns
One of India's leading investment banker, Nimesh Kamapani, stepped down as Chairman and Managing Director of JM Financial group of companies, of which he was the founder.
02 Aug 2016
JaipurSBI plans to shut and relocate 30% of its branches
The biggest bank of the country, State Bank of India (SBI), is considering a proposal to either relocate or shut down 30% of its 24,000 branches.
02 Aug 2016
IndiaRBI issues new guidelines for on-tap bank licenses
The Reserve Bank of India (RBI) came up with new guidelines for on-tap bank licensing paving way for those who are interested in seeking licenses whenever required.
29 Jul 2016
BusinessOracle acquires cloud software provider NetSuite for $3.5 billion
Business software maker Oracle Corp. has agreed to pay $9.3 billion in cash for NetSuite Inc on Thursday.
29 Jul 2016
BusinessBharti Airtel reports earnings, beats estimates
Bharti Airtel, one of India's largest communications network, reported strong earnings for their first quarter.
29 Jul 2016
BusinessOver 10 lakh employees participate in nation-wide strike
Over 10 lakh employees of Public Sector banks have decided to go on strike today, a move that will severely affect banking operation across India.
28 Jul 2016
BusinessChinese pharma giant's billion dollar acquisition in India
Shanghai's Fosun Pharma acquired an 86% stake in Hyderabad's Gland Pharma, a manufacturer of generic injectables for $1.4 billion.
28 Jul 2016
BusinessMaruti Suzuki to launch LCV next month
On 27th July, 2016, Maruti Suzuki India (MSIL) announced that it would be exploring the LCV space with its 'Super Carry'.
28 Jul 2016
BusinessRs.59,547 crore written off by banks in 2015-16
Minister of state for finance, Santosh Kumar Gangwar speaking in the Parliament said that 27 of India's public sector banks (PSBs) had written off Rs.59,547 crore in the fiscal year which ended in March 2016.
27 Jul 2016
BusinessZoomcar raises $25 million
India's first self-drive rental car service has just closed a Series C funding round of $25 million.
26 Jul 2016
BusinessTechCrunch website hacked by OurMine
Internet's tech and start-up media house, TechCrunch's website fell victim to a cyber-security attack by OurMine.
26 Jul 2016
BusinessPrisma is now on Android too!
The Prisma app that adds a cool filter to the mobile pictures was launched on the Android Play Store today.
24 Jul 2016
BusinessIndia becomes world's youngest Startup nation
According to Commerce and Industry Minister Nirmala Sitharaman, India is the world's youngest start-up nation having 72% founders below the age of 35.
23 Jul 2016
BusinessMicrosoft gets a French reprimand against excessive data tracking
The French National Data Protection Commission (CNIL) gave a formal notice to Microsoft regarding Windows 10 security and privacy concerns.
24 Jul 2016
BusinessITC's longest-serving Chairman addresses his last Annual Meet
India's longest-serving CEO, Yogesh Chander Deveshwar, ITC's Chairman, addressed what would be his last Annual General Meeting in Kolkata.
23 Jul 2016
BusinessVCR: Funai Electric, last manufacturer, halts production
Japan's Funai Electric, the world's last videocassette recorder manufacturer, will cease production by the end of July 2016.
22 Jul 2016
BusinessTransitioning towards public transport, cargo shipping and ride-sharing business
Tesla unveiled an ambitious road map for the future: an expansion towards cargo shipping, urban transport and a ride-sharing business.
22 Jul 2016
BusinessSeven Indian firms feature in 2016 Fortune 500 list
Seven Indians firms have managed to make it to the Fortune Global 500's latest edition, which ranked the world's biggest 500 corporations in revenue terms.
21 Jul 2016
BusinessUSFDA gives 3 firms green signal for Crestor
The United States Food & Drug Administration (USFDA) gave its nod to Sun Pharma, Aurobindo Pharma and Glenmark Pharma to produce and sell the generic variants of the cholesterol drug Crestor in the US market.
21 Jul 2016
BusinessGerman Rocket Internet hitting the ground hard
Germany-based e-commerce investor Rocket Internet is falling back to Earth as several of its leading start-ups registered slower revenue growth.
20 Jul 2016
BusinessBiteClub - food tech start-up halts operations
Gurgaon based BiteClub, a platform to connect chefs and consumers, is temporarily halting operations.
