Wednesday, August 15, 2018

‘Business’ News

Banks or fintech companies: Who will dominate the credit supply chain?

Wednesday, August 15, 2018 16:54

By Deep Narayan MukherjeeTechnology tends to remove intermediaries from supply chain and thus increase efficiency. Bill Gates in 1994 commented that banking is necessary, banks are not. Since then, technology has helped banks to innovate and grow. However, with the advent of fintechs globally, Gates' comment gained relevance. Part of ...

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Vistara launches flights to Trivandrum from Delhi, Chennai

Wednesday, August 15, 2018 16:08

NEW DELHI: Vistara became the first airline to launch new flights to Trivandrum to evacuate passengers stuck in Kerala due to floods caused by unprecedented rains.“We are operating special flights to TRV (Trivandrum) in view of COK (Kochi) airport closure for the next three days. Flights will operate from DEL ...

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Australia welcomes 19% more Indians between June 2017-May 2018

Wednesday, August 15, 2018 13:58

MUMBAI: Australia witnessed 19 per cent growth in tourist arrivals between June 2017-May 2018, with 3,30,700 Indians visiting the country.Around 2,77,100 Indians travelled to the Down Under during June 2016 and May 2017, according to Australian Tourism data.This has made India the eighth largest inbound market, after China, New Zealand, ...

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ALTBalaji aims to break-even in the next 3 years

Wednesday, August 15, 2018 12:15

Balaji Telefilms' video on demand platform ALTBalaji plans to invest up to Rs 150 crore a year for the next two-three years, while looking to achieve break- even in thenext three years.The digital platform was launched in April last year and ended the year with over 1.2 million paid subscriptions ...

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Government notifies incentives to oil PSUs in pre-NELP blocks

Wednesday, August 15, 2018 12:12

The government has notified a new policy requiring state-owned Oil and Natural Gas Corp Ltd (ONGC) and Oil India Ltd (OIL) to pay royalty and cess tax only to the extent of their equity holding in certain pre-1999 oil and gas fields.The 'Policy Framework for Streamlining the Working of Production ...

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Positive growth in steel sector, trend to continue: Tata Steel

Wednesday, August 15, 2018 11:35

Tata Steel Ltd CEO and Managing Director T V Narendran today said the steel sector has been witnessing a positive growth and this trend will continue with improving economic activities across the world.Talking to reporters after hoisting the Tricolour on the occasion of the 72nd Independence Day at Tata Steel ...

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The tale of INS Khukri and its brave captain

Wednesday, August 15, 2018 9:23

BENGALURU: As India celebrates its 72nd Independence Day, here's a tale of extraordinary courage and selflessness.It's a tale that has been told before, but there is now more information about the INS Khukri and its Captain, Mahendra Nath Mulla, who died with the ship during the 1971 Indo-Pakistan war.Commodore (retd) ...

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Prateek raises Rs 275 cr from Piramal group firm for Ghaziabad housing project

Wednesday, August 15, 2018 8:52

Realty firm Prateek Group has raised Rs 275 crore from Piramal Capital and Housing Finance for its ongoing 40-acre housing project at Ghaziabad. In August 2014, the Noida-based developer had launched 'Prateek Grand City' project at Siddharth Vihar in Ghaziabad with an estimated investment of Rs 5,000 crore. "We have ...

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PVR aims Rs 500-cr revenue from SPI Cinemas by FY20

Wednesday, August 15, 2018 8:47

Multiplex chain PVR Ltd is eyeing Rs 500 crore revenue from South India-based SPI Cinemas, which the former is in the process of acquiring, by financial year 2019-20. SPI Cinemas, which operates 76 screens across 17 properties in 10 cities under several brands Sathyam, Escape, Palazzo, The Cinema, S2 Cinema, ...

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NPCI blames Cosmos Bank’s ‘own IT environment’ for Malware attacks

Wednesday, August 15, 2018 7:34

The National Payments Council of India (NPCI) on Wednesday blamed the Cosmos Bank's "own IT environment" for the unprecedented cyber loot 65411640 which left the Pune-based bank poorer by Rs 94.42 crore.In a statement, the NPCI's Head Risk Management, Bharat Panchal, said "the NPCI's systems are fully secure and this ...

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