Economy

Currency rises 0.5% to close at 72.31, oil slips to $65 a barrel The rupee appreciated 0.5%, or 36 paisa, against the dollar as international crude oil prices dropped to $65 a barrel, which is seen as positive for the current account deficit since India imports 80% of its oil …

Talks end; company to allow them to report for duty from Friday Employees of Yamaha Motor India Limited, who had abstained from work from September 21, will be allowed to report for duty from Friday. A decision to this effect was arrived at in a meeting convened by the district …

Cites higher provisioning, ageing NPAs Allahabad Bank’s net loss narrowed to Rs. 1,822.71 crore from the Rs. 1,944.4 crore loss in the immediately previous quarter. The bank said in a regulatory filing that its losses were due to higher provisioning on account of NCLT-referred accounts and latest RBI guidelines regarding …

Higher steel prices and consolidation of Bhushan Steel results aid the company Tata Steel Ltd.’s second quarter consolidated net profit rose to Rs. 3,116 crore, the highest in nine years, compared with a net profit of Rs. 1,018 crore in the year-earlier period on higher steel prices and consolidation of …

New York City and a Washington DC suburb chosen Amazon, the online retailing giant, officially announced on Tuesday that it will split its “second headquarters” between New York City and a Washington DC suburb in Northern Virginia. Up to 50,000 jobs and $5 billion in investment are likely to be …

Binny Bansal has announced his resignation as CEO of Flipkart Group, effective immediately, following an independent investigation into an allegation of “serious personal misconduct,” said Walmart Inc. in a statement. “He strongly denies the allegation. Nevertheless, we had a responsibility to ensure the investigation was thorough,” said Walmart. Source : …

‘NBFCs should explore other options’ Amid growing demand for liquidity support for non-banking finance companies, the Reserve Bank of India (RBI) is unlikely to provide any special support to the sector, though it will continue to provide funds to the banking system as liquidity deficit in the system is a …

Centre misses internal deadline; analytical data sets not readily available The government will miss its internal deadline for the release of the back series of GDP data, according to NITI Aayog, which on Monday said the data would be released by the end of December. The government had earlier indicated …

Industrial production slows to 4.5%; slowing price growth in food, housing cools inflation to 3.31% Growth in industrial activity as measured by the Index of Industrial Production slowed marginally in September to 4.5% due to slowing growth in the manufacturing and capital goods sectors, official data released on Monday showed. …

Rising rupee, GST receipts lift mood Foreign investors have pumped in almost Rs. 4,800 crore into the Indian capital markets in the last five trading sessions, after pulling out large sums in October, amid cooling global crude oil prices and rising rupee. The recent infusion comes following a net outflow …