The scrapping of Rs 500 and Rs 1,000 notes, which comprised about 86% of all cash in circulation, will put a dent in India’s growth. Some analysts pegged the setback at a few tenths of a percentage point, others slashed estimates by half.
Revenue from the sector is likely to grow 8 to 10 percent in constant currency terms in the fiscal year ending March 2017, lower than an earlier forecast of 10 to 12 percent, the National Association of Software and Services Companies (NASSCOM) said.
WPI inflation in October was 3.39% compared with 3.57% in September. October WPI food articles inflation was 4.34% against 5.75% in September.
India’s headline inflation rate based on the Consumer Price Index (combined) eased to 14-month low of 4.2% in October compared with 4.39% in September and 5% a year ago, according to official data released.
For the first time, ever, Iran has surpassed Saudi Arabia to become India’s top crude oil supplier. Iran, which was India’s second biggest supplier of crude oil after Saudi Arabia till 2010-11, sold 759,700 barrels of oil per day to India in October, 56 per cent more than a year ago.
Indian banks will use indelible ink to ensure that people only change old notes for new ones once under Prime Minister Narendra Modi’s scheme to fight “black money”, resorting to a tactic used to prevent multiple voting in election.
Air India, which turned operationally profitable last fiscal, reported an operational loss of Rs 246.14 crore in the three months ended June 2016.
Tata Global Beverages sacked Cyrus Mistry as chairman of the company but the decision was immediately denounced by the embattled former chairman of Tata Sons as illegal.
Max Life Insurance’s merger with HDFC Life has hit a regulatory roadblock with the Insurance Regulatory and Development Authority of India (IRDAI) expressing reservations over the merger of a financial services firm with an insurance firm.
India’s largest retailer Future Group is partnering British wholesaler Booker Group to open cash and carry stores and directly compete with Walmart and Metro in the country
Apollo TyresBSE 1.75 % is competing with Chinese rivals Shandong Linglong Tyre and ChinaChem to acquire South Korea’s No. 2 tyre maker Kumho Tire in a deal pegged at $900 million. If successful, the deal will create a tyre maker that ranks among the top seven with a strong presence in the US and Europe.
Paytm will operate toll booths that will enable vehicles to zip through toll plazas as their toll charges will be deducted from their digital wallets. Apart from the NHAI contracts, the Noida-based technology firm is also in talks with the Railways for digitising payments mechanisms.
Hector Beverages-promoted Paper Boat wants to replicate its ethnic beverages in the fast-growing packaged foods business and will place packaged Indian ethnic snack foods on shop shelves starting next month. Hector Beverages co-founder Neeraj Kakkar confirmed the same.
Mobile telecom group Vodafone reported a first-half net loss of 5 billion euros ($5.5 billion) after writing down the value of its Indian business by the same amount due to the start of a price war sparked by the powerful new rival, Reliance Jio.
Snapchat has filed for an initial public offering, sources said, and could go public as soon as March and be valued at $20 billion to $25 billion, making it the largest IPO since Chinese e-commerce giant Alibaba Group Holding Ltd went public two years ago valued at $170.9 billion.
WhatsApp, added fully encrypted video calling to its messaging app, a move that comes as privacy advocates worry about the potential for stepped-up government surveillance under a Trump administration.
Tata Motors Ltd posted a quarterly net profit but missed estimates due to higher realised hedging losses and a one-time provision at its British luxury unit Jaguar Land Rover. Consolidated net profit for the three months ended Sept 30 was 8.48 billion rupees ($125.1 million).
Volkswagen and its labor unions agreed to cut 30,000 jobs at the core VW brand in exchange for a commitment to avoid forced redundancies in Germany until 2025, acompromise which leaves the carmaker’s profitability still lagging riva
Banking giant JP Morgan Chase has agreed to pay more than USD 264 million to resolve allegations it bribed officials in China by giving prized jobs and internships to friends and relatives, officials announced.
The Greek economy posted quarterly growth for the first time since 2014 in the three months to September, figures showed. Greece’s gross domestic product (GDP) increased by 0.5 per cent from the previous quarter, and by 1.5 per cent from the third quarter of 2015.
U.S. President-elect Donald Trump picked U.S. Senator Jeff Sessions for attorney general, whose tough and sometimes inflammatory statements on immigration have reflected his own. Retired Army Lieutenant General Mike Flynn, who has championed Trump’s aggressive approach to terrorism, was chosen as his national security adviser. Representative Mike Pompeo, a vocal critic of the Obama administration’s security policy, was named as director of Central Intelligence Agency.
The World Health Organization declared that Zika no longer constitutes an international emergency, but it stressed a need for a long-term effort to address the virus, which has been linked to birth defects and neurological complications.
The election of Donald Trump as U.S. president has done nothing to change the Federal Reserve’s plans for a rate increase “relatively soon,” Fed Chair Janet Yellen said in Congressional testimony that included a pledge to serve out her term.
Songwriter and poet Leonard Cohen, music’s man of letters whose songs fused religious imagery with themes of redemption, died in his sleep after a fall in his Los Angeles home in the middle of the night on Nov. 7. He was 82.
A powerful 7.8 magnitude earthquake pummelled central New Zealand early on 14th November, killing at least two people, damaging roads and buildings and setting off hundreds of strong aftershocks.
At the annual Governors Awards, the Chinese actor and martial arts star, Jackie Chan finally received his little gold statuette, an honorary Oscar for his decades of work in film.
South Korean prosecutors will question President Park Geun-hye over a political corruption scandal engulfing her presidency, an official said on Sunday, the first time a sitting president will be questioned by prosecutors over a criminal case.