Moody’s withdraws RCom’s credit rating after missed payment

Moody’s withdraws RCom’s credit rating after missed payment

A shareholder fills a form before the Reliance Communications annual general meeting in Mumbai September 22, 2009. REUTERS/Arko Datta/Files   MUMBAI, November 18 (Reuters) – Rating agency Moody’s said on Friday it has withdrawn its credit rating on Reliance Communications, as it considers the Indian telecom operator to be in default for missing an interest […]

Toyota and Suzuki in tie-up to sell electric vehicles in India

Toyota and Suzuki in tie-up to sell electric vehicles in India

Visitors look at Toyota models at Auto Guangzhou in Guangzhou, China November 17, 2017. REUTERS/Bobby Yip   TOKYO, November 17 (Reuters) – Toyota Motor Corp and Suzuki Motor Corp have agreed to cooperate in selling electric vehicles in India from around 2020, they said on Friday, aiming to give each other a leg up in […]

India gold prices flip to discount as wedding demand underwhelms

India gold prices flip to discount as wedding demand underwhelms

MUMBAI/BENGALURU, November 17 (Reuters) – Gold prices in India traded at a discount for the first time in six weeks as the key wedding season failed to spur fresh demand, while high prices curbed appetite for the precious metal in major Asian centres except China.   Gold is considered an essential part of weddings in […]

Moody’s raises India’s sovereign bond rating; sees reforms fostering growth

Moody’s raises India’s sovereign bond rating; sees reforms fostering growth

A Moody’s sign on the 7 World Trade Center tower is photographed in New York August 2, 2011. REUTERS/Mike Segar/Files MUMBAI/BENGALURU, November 17 (Reuters) – Moody’s Investors Services upgraded its ratings on India’s sovereign bonds on Friday, saying that continued progress on economic and institutional reform will enhance India’s high growth potential.   Moody’s said […]

Jaitley in Singapore: Lists GST, note ban as major reforms

Jaitley in Singapore: Lists GST, note ban as major reforms

Singapore, November 16 (IANS) Finance Minister Arun Jaitley has urged Singaporean businesses to invest in India, highlighting the country as one of the largest FDI recipients with the government undertaking major structural reforms, including Aadhaar, GST and demonetisation.   “India has become the most favourable and attractive destination for Foreign Direct Investment (FDI),” Jaitley said […]

Mobile handset shipments to hit 262 mn units in India

Mobile handset shipments to hit 262 mn units in India

New Delhi, November 16 (IANS) With mobile handset vendors shipping 80 million mobile handset units in India in the third quarter this year, the shipments are likely to touch 262 million units by the end of fourth quarter, market research firm CMR said on Thursday.   According to CMR’s “India Monthly Mobile Handset Market Review […]

Lower GST rates on restaurants, 178 goods become effective

New Delhi, November 15 (IANS): The most comprehensive overhaul of GST rates decided at a recent GST Council meeting, reducing tax on all restaurants to 5 per cent and slashing tax on 178 items, became effective from Wednesday as the government issued notifications to this effect.   Eating out is expected to become cheaper as […]

Xiaomi shares top slot with Samsung in India

New Delhi, November 14 (IANS): Buoyed by strong sales in the run-up to Diwali, Chinese smartphone player Xiaomi has for the first time shared the top slot with South Korean giant Samsung in the Indian smartphone market, with a market share of 23.5 per cent and having shipped 9.2 million smartphones in the quarter   […]

‘Sweet news’ as Bengal wins GI tag for ‘rosogolla’

Kolkata, November 14 (IANS): Ending a bitter fight with neighbouring Odisha, West Bengal on Tuesday won the Geographical Indication (GI) tag for the iconic ‘rosogolla’, signifying that the spongy, syrupy sweet originated in its territory. The announcement by the GI registry has drawn the final curtain over an intense two-and-a-half year battle between the two […]

Bharti sells stake in tower biz for Rs 3,325 cr to trim debt

MUMBAI, NOVEMBER 14 (PTI): Bharti Airtel said today that it has sold 83 million sharesin its mobile tower subsidiary, Bharti Infratel, for over Rs 3,325 crore via stock market deal and will use the proceeds to pare debts.   The secondary share sale was executed at Rs 400.6 per share, representing 3.6% discount to the […]

IT spending in India to hit $87.1 bn in 2018

Panaji, November 14 (IANS): Riding on the wave of digital transformation, the IT spending in India is forecast to hit $87.1 billion in 2018 — an increase of 9.2 per cent from $79.7 billion (estimated) this year, Gartner said on Tuesday.   Enterprise software and IT services continue to exhibit strong growth, with devices segment […]