Business

After Visa, Mastercard is second largest credit card issuer in European market.

The European Union has fined global credit card giant Mastercard 570 million euros ($647 million) for limiting competition between banks offering cheaper payment fees.

"By preventing merchants from shopping around for better conditions offered by banks in other member

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The battle for Indian consumer was never going to be an all-American affair.

Walmart Inc.'s splashy acquisition last year of Flipkart Online Services Pvt., homegrown e-tailer giving Amazon.com Inc. a solid run for its money, might have given impression of a two-horse race. But as I argued (here and here), billionaire Mukesh Ambani wasn't going to

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Between 2018 and 2022, India is estimated to produce 70 new dollar millionaires every day, Oxfam said.

Davos: 

Indian billionaires saw their fortunes swell by Rs 2,200 crore a day last year, with top 1 per cent of country's richest getting richer by 39 per cent as against just 3 per cent increase in wealth for bottom-half of population, an Oxfam

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Reserve Bank of India (RBI) has strict norms in place regarding non-performing assets for banks

The government will soon approach RBI seeking a special dispensation for deferment of provisioning requirements for bank loans extended to some IL-FS group firms amid ongoing efforts to monetise assets of crisis-hit group, official sources said on

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Selling in auto, metal and energy stocks pulled markets lower

Domestic stock markets fell after a mixed start on Tuesday tracking weakness in Asian peers amid pessimism about world economic growth. The Sensex fell as much as 193 points to touch 36,385 in morning while Nifty hit 10,902 on downside, 59 points

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Finance Minister Arun Jaitley had budgeted Rs 70,100 crore for farm subsidies in year ending March 31

The government is considering a plan to transfer cash to farmers to ease their financial burden instead of offering subsidies, people with knowledge of matter said.

Prime Minister Narendra Modi's government is planning to combine all farm subsidies,

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In a few weeks, India's finance minister will present what's called an "interim budget" - accounts of year gone by, as well as his plans for year to come. It isn't supposed to be a regular budget because government faces reelection in a few months; convention is that next finance minister gets to make final decisions about expenditure after a new

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Jet Airways India Ltd. has piled on $1.1 billion in debt and failed to pay loans and salaries

Prime Minister Narendra Modi rode to power five years ago on his business friendly credentials and promise of generating millions of jobs. Now an airline is on verge of collapse, bringing PM Modi's image under attack just months before national elections.

St

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The benchmark indices finished higher for fifth day in a row.

Domestic stock markets closed in green on Monday led by energy and pharma stocks. The S-P BSE Sensex ended 192.35 points, or 0.53 per cent, higher at 36,578.96, while broader NSE Nifty settled at 10,961.85, up 54.90 points or 0.50 per cent

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Selling in auto, metal and state-run banking stocks dragged markets lower

Domestic stock markets closed lower on Tuesday tracking weakness in Asian peers on concerns about global growth, a day after International Monetary Fund cut its global growth forecasts. The Sensex shed 134 points to end at 36,444,

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Gold had lost Rs 140 in previous two sessions.

Gold rallied by Rs 40 to Rs 33,200 per 10 gram at bullion market on Monday, reversing a two-day losing trend on fresh buying by local jewellers to meet wedding season demand. Silver, however, held steady at Rs 40,100 per kg on scattered demand from coin makers. Traders said emergence of buying by local

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Union Bank Of India 3rd quarter profit: The state-controlled lender made lower provisions for bad loans.

Union Bank of India reported its third straight quarterly profit on Monday as state-controlled lender made lower provisions for bad loans, but missed analysts' estimates by a wide margin, sending its shares sharply lower.

Net profit was Rs 153

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Whether Budget to be presented by NDA government will be vote on account or something more will only be known on February 1 when Finance Minister Arun Jaitley presents Budget 2019. Enough hints have been dropped to indicate that Budget will not be a mere vote on account.

However, a very limited scope is available to government to make major changes

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On Friday, rupee had shed 16 paise to end at 71.19 against dollar.

Mumbai: 

The rupee on Monday weakened by 9 paise to close at 71.28 against US dollar amid rise in demand for greenback from exporters and unabated foreign fund outflows. This is second successive session of fall for domestic currency, during which it has lost 25 paise. Forex traders

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YONO is all set to recognise some trailblazing global Indians, all under age of 20

India has world's largest diaspora. According to United Nations, more Indians live outside their own country compared to any other nation. And global Indians are not just heading corporates around world, but also winning innumerable prizes in innovation and

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Raghuram Rajan said Gita Gopinath's new job requires much more than insightful economic thinking

Gita Gopinath has a knack for asking kind of questions that, not so long ago, might have raised eyebrows inside International Monetary Fund, where she just took over as chief economist.

What if more emerging markets actively managed their currencies,

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The airline is likely to infuse Rs 2,170 crore by subscribing to rights issue.

New Delhi: 

In a fresh twist to ongoing Jet Airways bailout saga, lenders are now mulling over a fresh proposal. With no resolution forthcoming last week and a deadlock persisting, Abu Dhabi-owned Etihad has submitted an alternate proposal for a stake hike in Jet Airways.

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The aggregate budget deficit of country's states is estimated to increase next financial year

New Delhi: 

The cumulative fiscal deficit of states is expected to rise following announcement of farm support packages ahead of general elections due by May, India Ratings and Research, Indian arm of Fitch Ratings, said on Monday.

The aggregate budget

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Revenue surged 24 per cent to Rs 5,294 crore.

Asian Paints posted a 14.6 per cent rise in third-quarter net profit on Tuesday, beating estimate, buoyed by strong performances in its paints manufacturing vertical.

Net profit came in at Rs 636 crore ($89.16 million) in three months ended December 31, 2018 compared with Rs 555 crore a year earlier.

Analy

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The IMF also cut its 2019 growth forecast for developing countries to 4.5 per cent.

The International Monetary Fund on Monday cut its world economic growth forecasts for 2019 and 2020, due to weakness in Europe and some emerging markets, and said failure to resolve trade tensions could further destabilise a slowing global economy. In its second

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Kotak Mahindra Bank 3rd quarter profit: The lender reported an increase of 23% rise on year

Kotak Mahindra Bank, country's fifth-biggest lender by market capitalisation, reported on Monday a 23 per cent rise in third-quarter net profit, helped by higher interest income and a write-back of provisions made for mark-to-market losses. Net profit of

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At end of December quarter, LIC held a 44.3 per cent stake in IDBI Bank.

LIC or Life Insurance Corporation on Monday completed acquisition of a controlling stake in IDBI Bank. With completion of acquisition of a 51 per cent stake, LIC became majority shareholder of IDBI Bank, according to a regulatory filing

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The IMF said India's growth rate in 2018 was 7.3 per cent.

Washington: 

India is projected to grow at 7.5 per cent in 2019 and 7.7 per cent in 2020, an impressive over one percentage point ahead of China's estimated growth of 6.2 per cent in these two years, IMF said on Monday attributing pick up to lower oil prices and a slower pace of monetary

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Economists are starting to price in possibility of a rate cut as early as next month

Real interest rates in South Asia are among highest in world, raising prospect of more dovish monetary policy in region.

Sri Lanka, Pakistan and India rank in top five of world's major economies with highest inflation-adjusted interest rates.

While negative real

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TVS Motor 3rd quarter profit: Analysts on average had expected a profit of Rs 167 crore.

Auto manufacturer TVS Motor posted a better-than-expected rise in third-quarter profit on Tuesday, aided by higher sales of its two- and three-wheeler vehicles.

Profit rose 15.6 per cent to Rs 178 crore ($24.92 million) in three months ended December 31, from Rs

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One can deposit a money in fixed deposits for a specific period, ranging from seven days to 10 years.

Fixed deposits or FDs are secure financial instruments offered by public, private sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices, which fetch guaranteed returns. In a fixed deposit account, money can be

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Finance Ministry officials on Monday kicked off printing process of Budget documents with customary "halwa ceremony". The ceremony marks commencement of process of printing documents for Budget. The event assumes significance as once sweet dish is served, a large number of officials and support staff - who

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India, as a country, has prioritised government support for entrepreneurship and spawned a burgeoning culture of innovation, with initiatives such as Startup India.

The resourcefulness of country's people has globally been celebrated by assigning a unique word called jugaad to it, and in many parts of country, this culture takes root very young.

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The retail inflation in December was 2.19 per cent, lowest in 18 months.

Inflation seems to have now become a double-edged sword. As retail and wholesale inflation continues to be at multi-month lows mainly driven by depressed price of food items, it has now started to hit farmers badly. Priti Deshmukh, a consumer who lives in Mumbai's Dadar area,

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Singapore: 

Last week, Trustee-Manager of RHT Health Trust, a business trust listed on Singapore Exchange (SGX), announced completion of process of disposing its entire portfolio of healthcare assets. Fortis Healthcare, a listed company in India and, also controlling unitholder with a 30 per cent stake will pay 895.55 million Singapore dollars

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