RBI to examine proposal for limiting free ATM transactions

New Delhi, January 12: The Reserve Bank of India (RBI) will consider reducing the number of free ATM withdrawals, as recommended by Indian Banks’ Association, in an effort to cut down on cash transactions in the economy. “We will examine that (IBA recommendation of cutting down number of free ATM transaction to 5 per month). […]

Carmakers may be short of aluminium in future

Detroit, January 11: With automakers’ demand for aluminum growing explosively as they seek to improve fuel efficiency, aluminum providers are selling out their automotive capacity almost as fast as they can build new plants, raising the question of whether some car makers could be caught short in the future. The U.S. market for aluminum sheet […]

Soon, wireless power transfer on the go

New York, January 11: Imagine charging your cell phone while on an evening walk without any wire or device near you. This ‘power in the air’ thought has received a big boost with Duke University researchers demonstrating the feasibility of wireless power transfer using low-frequency magnetic fields over distances much larger than the size of […]

Spy cameras’ sales go up in Delhi, courtesy Kejriwal

New Delhi, January 10: With Delhi Chief Minister Arvind Kejriwal encouraging people to carry out sting operations to catch the corrupt red-handed, sellers of spy cameras in Delhi’s popular Palika Bazar are a happy lot with sales doubling overnight. According to shopkeepers, the range of spy cameras is vast and can cost between Rs.400 to […]

Government notifies new gas pricing guidelines

New Delhi, January 10: The government Friday notified the domestic natural gas pricing formula for all natural gas produced in the country. The Domestic Natural Gas Pricing Guidelines, 2014 notified by the Ministry of Petroleum and Natural Gas will apply to all natural gas produced domestically, irrespective of the source, whether conventional, shale or coal-bed […]

Govt to seek foreign investment in railways

New Delhi, January 9:  India will soon invite foreign businesses to help expand its once-mighty but now outdated railways, government sources said, in a move that would mark the opening up of one of the country’s last great state-controlled industries. Foreign investors will be allowed to fully own new services in suburban areas, high speed […]

‘New gas price notification before Sunday’

New Delhi, January 9: The Government will notify the new gas pricing policy before Sunday, said Vivek Rae, Secretary Petroleum & Natural Gas. “It is ready, we are just looking at the fine print,” Rae told mediapersons at the sidelines of a CII Business Partners conference. The new gas pricing mechanism, as suggested by a […]

Tata firm unveils solar power system for homes

Bangalore, January 9: Leading energy solutions provider Tata Power Solar Thursday unveiled a new solar power system to generate one kilo volt-ampere (kva) for providing uninterrupted power supply for eight hours at affordable cost. “Our latest product – Tata Dynamo — gives users easy option to switch over to solar energy for at least eight […]

SpiceJet orders 40 Boeing jets worth $4 bn

DUBAI/PARIS, JANUARY 8: Indian budget airline SpiceJet has agreed to buy about 40 Boeing 737 jets worth over $4 bn at list prices, industry sources said, a move that could help the loss-making carrier as it seeks new investors. The deal includes a firm order for as many as 42 Boeing 737 MAX aircraft that […]

23 Indian-origin entrepreneurs in Forbes’ ‘brightest young stars’

New York, January 8: Over 20 Indian-origin young entrepreneurs are among Forbes magazine’s annual list of the world’s “brightest young stars” under the age of 30 from diverse fields like finance, media, sports and education, described by the publication as “prodigies reinventing the world right now.” The Forbes third annual ‘30 Under 30’ list comprises […]

India considers easing gold import curbs

New Delhi, January 6: Officials are in discussions to cut a record high import duty on gold and relax rules on exports, government sources said, after the measures helped narrow the country’s trade deficit and now threaten to encourage smuggling. India imposed the curbs last year when overseas gold purchases – the country’s second most […]