Business

Toyota India car sales dip 22% in November

Bengaluru,  Japanese car maker’s joint venture Toyota Kirloskar Motor (TKM) on Monday said it sold 8,312 units in November, registering a 22 per cent annual decline from 10,721 units in the same month a year ago in the domestic market. …

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Govt’s fiscal space to support economic activity limited: Kotak

Mumbai,  There may not be much the government can do to fightback the severe slowdown facing the economy because the fiscal space to do so is limited after the corporate tax rate cut and GST shortfall, Kotak said in a …

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FM hints at more interventions amid growth pangs

New Delhi,  Finance Minister Nirmala Sitharaman said on Saturday that several significant steps in structural reforms have been taken in the past few months and responses/interventions addressing the needs of the economy will continue, indicating more relief measures could be …

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UP EPF scam: Babus’ trouble to multiply as ED to probe money laundering

Lucknow, Suspecting money laundering in the Rs 4,122 crore Employees Provident Fund (EPF) scam in Uttar Pradesh, the Enforcement Directorate (ED) has sought documents from the Economic Offences Wing (EOW) of Uttar Pradesh Police, and it will soon launch a …

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OYO’s valuation continues to soar despite losses

New Delhi,  Hospitality unicorn OYO’s valuation has almost doubled in a year, reaching $10 billion between September 2018 and October 2019, despite significant losses in the financial year ending on March 31. The losses have reportedly mounted due to the …

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M&M Roxor violates Fiat Chrysler’s ‘trade dress’: US Judge

New Delhi,  Automobile major Mahindra and Mahindra (M&M) on Friday said an administrative law judge of the United States International Trade Commission (ITC) found that the Roxor model of Mahindra violates the “trade dress” of Fiat Chrysler Automobile ANV’s (FCA) …

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Slowdown Saga: Manufacturing downturn pulls Q2 GDP growth to 4.5%

New Delhi,  A massive contraction in manufacturing, agriculture and mining activity pulled India’s GDP growth rate down to 4.5 per cent in the second quarter ended September 2019-20. This is the fifth successive quarter of decline and the slowest GDP …

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RBI moves NCLT seeking insolvency process against DHFL

Protecting depositors, taxpayers is public interest RBI

Mumbai,  The RBI on Friday filed an application in the National Company Law Tribunal’s Mumbai bench for initiation of corporate insolvency resolution process against the cash-strapped Dewan Housing Finance Corporation Ltd (DHFL). There would be a debt moratorium on DHFL …

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Ahead of GDP data, equity indices end at record closing high

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Mumbai,  The Sensex and Nifty on Thursday ended at record closing highs ahead of the release of the GDP numbers on Friday, which is widely expected to fall to a decadal low, but investors seemed to focus on the easing …

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Xiaomi to launch Mi Credit for personal loans in India

Xiaomi shares top slot with Samsung in India

New Delhi,  Chinese handset maker Xiaomi will launch its Mi Credit platform for personal loans in India on December 3. It is likely that the company will now unveil a revamped version of Mi Credit in the country. The smartphone …

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