Business

Ikea in Hyderabad: IKEA's Indian website shows popular products at lower prices than in the US.

Five years, commitment of 30 per cent local sourcing and a planned investment of Rs 10,500 crore is what Swedish furniture retailer Ikea had to make to launch its first store in India. The long-awaited Ikea store

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Analysts on average had expected earnings of Rs 1,435 crore, according to Reuters.

Hindustan Petroleum Corp Ltd posted an 86 per cent jump in first-quarter profit on Wednesday, beating analysts' expectations, driven by strong refining margins. The state-controlled company said net profit jumped to Rs 1,719 crore ($250.50 million) in the three

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AirAsia flight ticket price: AirAsia is offering domestic flight tickets starting from Rs. 1,499.

Air carriers are offering discounts on both domestic and international flight offers. Jet Airways, country's second largest airline, has announced up to 30 per cent discount on international flight tickets. It is also offering 10 per cent discount on

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These petrol and diesel prices came into effect from 6 am on Thursday.

Fuel retailers kept the petrol and diesel rates unchanged for the second day in a row across metros. On Thursday, a litre of petrol was being sold in New Delhi for Rs. 77.06, in Kolkata for Rs. 80, in Mumbai for Rs. 84.50, and in Chennai for Rs. 80.05. A litre of diesel was

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Net sales rose 12 per cent to Rs 3,846 crore, the company said in a statement.

Drugmaker Cipla Ltd posted quarterly profit well above analysts' expectations, helped by strong growth in the domestic market. Net profit rose 10.4 per cent from a year earlier to Rs 451 crore ($65.67 million) in the first quarter ended June 30, the country's

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Ikea Store Hyderabad: The restaurant will be open from 9:30 am to 10:30 pm every day.

Only a day is left for the much-awaited launch of Ikea, the Swedish furniture retailer in India. Ikea's lndia debut has been much delayed because of local sourcing norms. The company, which has flagged import duties in

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Headline inflation is projected to rise to 5.2% in fiscal year 2018/19, IMF said.

NEW YORK: India is projected to clock an economic growth of 7.5 per cent in the 2019-2020 fiscal year on strengthening of investment and robust private consumption, the IMF said in its latest report.    The International Monetary Fund (IMF), in the report published on

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The next hearing of the case has been fixed for August 14.

All directors and promoters of real estate major Amrapali Group will be rendered homeless if the company fails to deposit Rs 5,000 crore needed to build unfinished projects, the Supreme Court warned on Wednesday. The top court also directed the group

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IKEA is also partnering with UrbanClap.

HYDERABAD: IKEA will do things differently in India after it opens its first store in the nation on Thursday, as it deals with higher taxes on imported goods and looks to woo cost-conscious shoppers unaccustomed to the company's DIY furniture assembly style.

The Swedish furniture retailer is pushing into new

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CreditAccess Grameen's IPO or initial public offering received moderate response from investors on Day 1. The IPO of CreditAccess Grameen, a Bengaluru-based microfinance institution, is estimated at Rs 1,100 crore. At the end of the first day of issue, 47,83,205 bids were received as against the total issue size of 1,88,29,684, data available with

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Domestic stock markets scaled fresh record closing highs on Wednesday, boosted by banking stocks and energy heavyweights such as Reliance Industries and ONGC. BSE benchmark index Sensex closed 221 points, or 0.6 per cent, higher at 37,887 while the NSE Nifty settled at 11,450, up 60 points from the previous close. The Nifty Bank - an NSE sectoral i

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IMF forecasts Indian economy to grow at 7.3% in the current fiscal year.

NEW DELHI: The Reserve Bank of India (RBI) will need to gradually tighten monetary policy further due to rising inflation, driven mainly by higher oil prices and a falling rupee, the International Monetary Fund said on Wednesday. The central bank raised the repo rate for the

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Stock Market on Thursday: Twenty-five out of 50 Nifty stocks advanced in trade.

Nothing seems to be stopping the domestic equity markets as both the equity benchmarks hit fresh highs in opening trade on Thursday. The Sensex opened at 37,994.51, before hitting the 38,000 mark - its intra-day high so far is

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Sovereign gold, however, remained flat at Rs 24,600 per piece of eight grams.

Gold prices softened by Rs 20 to Rs 30,565 per 10 grams at the local market today owing to a slackened demand from local jewellers despite a firm trend in overseas markets, according to news agency Press Trust of India. Silver followed suit and cracked below the Rs

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Streamlining exemptions would further reduce compliance and administrative costs, the IMF recommended.

WASHINGTON: The IMF today described the Goods and Services Tax (GST) as a "milestone reform" in India's tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and

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Interest rates on most small savings schemes have remained unchanged for three consecutive quarters

Top banks such as State Bank of India (SBI), HDFC Bank and Punjab National Bank have raised their interest rates on fixed deposit or FD. That means better return on investment (RoI) for the customer depositing money in a bank FD. Interest rates on

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Drug maker Lupin posted a bigger-than-expected fall in first-quarter profit on Wednesday, hurt by declining sales in the US and Japan.

Sanctions imposed by international regulatory bodies and warnings over quality control at production sites have hurt sales in the United States where Indian pharmaceutical firms accounted for a third of the drugs

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Tesla shares closed up 11 per cent at $379.57, slightly below their all-time high.

SAN FRANCISCO: Chief Executive Elon Musk said on Tuesday he is considering taking Tesla Inc private in what would be the largest deal of its type, moving the electric car maker out of the glare of Wall Street as it goes through a period of rapid growth under tight

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The rupee traded in a range of 68.57-68.71 during Wednesday's session before settling at 68.63

Extending its recovery against the US dollar to a second straight session, the rupee gained by 5 paise to close at 68.63 on Wednesday. Weakness in the dollar against a basket of currencies, amid prevailing fears of a trade war between the world's two

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Samsung's second quarter profit dipped to 11.04 trillion won, down from 11.05 trillion won a year earlier

South Korea's Samsung Group on Wednesday said it would invest $22 billion over the next three years in cutting-edge technology including artificial intelligence, self-driving cars and biopharmaceuticals, as it searches for ways to drive future

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Stock Market on Wednesday: Experts said that after a record spree, markets were likely to cool off.

After a flat opening, the domestic equity market turned negative on Wednesday and started trading in a range. The Sensex opened at 37,756.24 and the Nifty50 at 11,412.50. But soon after, Nifty lost the crucial 11,400 mark and traded at 11,390.15, up

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BPCL logged a net profit of Rs 2,293 crore in the fiscal first quarter that ended on June 30

Bharat Petroleum Corporation reported a better-than-expected quarterly profit on Wednesday, helped by strong refining margins.

Profit rose three-fold from a year earlier to Rs 2,293 crore ($334.16 million) in the first quarter ended June 30, the

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The survey also revealed that 65 per cent Indians don't take risk to get great hotel deals.

Mumbai: Almost 42 per cent Indians spend an average six to 10 hours researching online for deals on hotels, airlines or combo offers before booking a week-long holiday, according to a survey. Around 23 per cent spend 11-30 hours and 20 per cent spend more

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The rupee made a spirited recovery from a two-week low to end higher by 20 paise at 68.68 against the US currency on fresh bouts of dollar selling by exporters and banks. Forex market largely withstood the initial discomfort and a broad based dollar weakness predominantly helped the rupee to reverse its bearish undertone.

Increased greenback sales

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Mumbai: The Reserve Bank of India said on Wednesday that it has decided to pay a dividend of Rs 50,000 crore to the Union government for the year ending June 30, 2018. The decision was taken at its board meeting held here.

"The Central Board of Directors of the Reserve Bank of India, at its meeting held on August 8, 2018, approved the transfer of

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State Bank of India (SBI) has advised its customers to use unique numbers as ATM PIN

In case your personal banking details have been compromised with because of a fraudulent SMS, please report it to the bank immediately. That was the message State Bank of India (SBI) shared on microblogging site Twitter, cautioning the public against circulation of

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Twenty four banks collected close to Rs 5,000 crore as penalties in 2017-18 from customers for non-maintenance of Average Monthly Balance (AMB) balance in their accounts, reported news agency Press Trust of India (PTI) on Sunday. Average Monthly Balance (AMB) is the minimum average of deposits required by the bank customers in their savings

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In NCR, the number of such housing units has been estimated at over 1.8 lakh, said PropEquity.

More than 4.65 lakh housing units across the country are lagging their delivery deadlines, according to a report by property consultant PropEquity. Although the country's real estate or property market "may be witnessing green shoots of recovery in select

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Last month, the Sunil Mittal-led Airtel had revised majority of its postpaid plans.

Bharti Airtel has revised its postpaid plan priced at Rs 399 to offer additional data. Airtel is offering additional 20 GB data for a year, according to the telecom operator's official website, airtel.in. The Rs 399 postpaid plan by Airtel also offers free local,

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Reliance Jio recharge: Prepaid subscribers can choose from nine options to get the full talktime benefit

Reliance Jio currently offers 12 top up recharge packs. Priced between Rs 10 and Rs 5,000, these top up recharge vouchers come with unlimited validity period, according to the telecom company's website - jio.com. That means the "talktime" or ta

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