Business

Air India is looking to raise USD 819 million (over Rs 5,800 crore) to refinance existing bridge loans availed for six Boeing 787 and one Boeing 777 aircraft. The national carrier is yet to have long term financing facility for six B787 and B777-300ER, according to a tender document. Bids have been invited from banks, financial institutions for refinancing existing ...

Mirroring slowdown in the economy, pre-Diwali Dhanteras sale of gold and silver dipped by as much as 40 per cent as high prices and lower consumer spending hit demand. Dhanteras, considered the most auspicious day in Hindu calendar for buying items ranging from precious metals to utensils, was a muted affair in most markets across the country with traders complaining ...

The World Bank released its latest Doing Business Report(DBR, 2020) todayon24th October 2019. India has recorded a jump of 14 positions against its rank of 77 in 2019to be placed now at 63rdrank among 190 countries assessed by the World Bank. India’sleap of14 ranks in the Ease of Doing Business ranking is significant considering that there has been continuous improvement ...

The country’s largest lender SBI on Friday reported a nearly six-fold jump in its consolidated net profit to Rs 3,375.40 crore for the second quarter ended September 30. The bank’s net profit was Rs 576.46 crore in the July-September quarter of previous fiscal. Its total income of the entire SBI group rose to Rs 89,347.91 crore in the quarter under ...

Union Finance Minister Nirmala Sitharaman led the Indian delegation to the Annual Meetings Plenary session of the International Monetary Fund (IMF) and the World Bank Group held in Washington DC yesterday . She also attended the Working Lunch Session of the Development Committee (DC), the ministerial-level committee of the IMF and the World Bank. In the DC Lunch, the members ...

SpiceJet plans to induct wide-body planes early next year and is looking at various options as the budget airline steers ahead with its ambitious expansion plans, according to a senior official. The low-cost carrier is looking at options from Boeing and Airbus. An industry source said that SpiceJet might bid for Air India’s wide-body operations in case the government puts ...

State-owned fuel retailers on Friday decided to defer their decision to suspend jet fuel supplies to Air India after the national carrier promised to make regular payments to clear outstanding dues, officials said. The three state-owned oil companies – Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) – had earlier this month threatened to snap ...

Gold prices on Thursday declined Rs 105 to Rs 38,985 per 10 gram in the national capital on a stronger rupee and weak global cues, according to HDFC Securities. However, silver surged by Rs 509 to Rs 46,809 per kg here from its previous close of Rs 46,300 per kg. On Wednesday, gold closed at Rs 39,090 per 10 gram. ...

Around 50 depositories of the scam-hit Punjab and Maharashtra Cooperative Bank staged a protest outside the RBI demanding revoking restrictions on cash withdrawal, currently capped at Rs 40,000 over a six-month period. The protesters marched from Patel Chowk to Reserve Bank of India protesting against the suspension of banking operation since September 24. According to police, the PMC bank depositors ...

E-commerce giant Flipkart on Tuesday said it is setting up a new local entity – Flipkart Farmermart – that will focus on food retail in India, as it looks to take on arch-rival Amazon in the segment. According to sources, Flipkart is expected to invest about Rs 2,000 crore initially in the business and pump in more funds as required ...