Air India can't get public money for eternity: Ashok Gajapathi Raju

Air India's "books are so bad" that nobody will buy it even if the government wanted to sell off the national carrier, Civil Aviation Minister Ashok Gajapathi Raju said on Thursday. Ruling out disinvestment in the carrier that has a debt of some Rs 50,

Jet flies high with Rs 426-cr profit

Cost savings helped Jet Airways post a consolidated net profit of Rs 426 crore in the March quarter, the final one (Q4) in 2015-16. In the same quarter last year, it had a net loss of Rs 1,803 crore, due to the write-off of its equity investment in sub

Blow for taxi aggregators as surge pricing may be banned in Mumbai

Mumbai might follow Delhi and Bengaluru. According to sources, surge pricing in the city might be abolished by June 15. The city has seen two strikes over the past few months by black-and-yellow taxi drivers demanding the variable pricing model to be abol

Apple gets FIPB nod for retail stores, but must meet 30% local sourcing norms

The development comes a week after the Cupertino, California-based company’s CEO Tim Cook visited India and met Prime Minister Narendra Modi. According to current DIPP norms, for single brand retailing, 100% FDI has been allowed provided manufactu

Vodafone targets 100 cities in K'taka for 4G

Vodafone is aiming to take its 4G services to to 100 cities from 2 cities by the end of this year, said Amit Kapur, Business Head — Karnataka, Vodafone India. “In the past 1 year, after we took up our own spectrum there, we have launched our own 3G

E-filing of tax returns jumps 68.5% in April

E-billing of tax returns witnessed a jump of 68.5% in the first month of the current fiscal year with over 8.32 lakh assessees filing ITRs electronically. The number of e-filed returns recorded in April 2015-16 stood at 4.94 lakh. In all, 4.33 crore

Substantial uncertainties, risks in India business: Amazon informs US shareholders

Amazon, the Seattle-based online retailer, has highlighted uncertainties and regulatory risks in its India business, citing the latest e-commerce guidelines which allowed 100 per cent foreign investment in marketplace platforms but with several rider

Mauritius treaty is a diplomatic victory for Modi and a jolt to benami investors

The reworked India-Mauritius tax treaty, an amendment to a 32 year old rule, is a major bad news for investors who have been entering India through the convenient-Mauritius/Singapore route to avoid paying capital gain taxes, and also to Indian black

Sensex soars 460 pts, Nifty regains 7,800-mark on global cues

Market benchmark Sensex today zoomed over 460 points -- its biggest single-session gain in nearly four weeks -- to end at 25,688.86 and the broader NSE Nifty recaptured the 7,800-mark on a flurry of buying by foreign funds and retail investors amid a

Air India posts profit first time in decade, but still not out of woods

New Delhi: Air India has reported a modest operational profit for the first time in a decade, two years ahead of the target as per its turnaround plan. This is significant since any profit, even if it is at the operational level, has been generated f

PAC asks Rajan to explain 'real causes' of bad-loan menace

Asked to explain the "real causes" of ballooning bad loans at public sector banks, RBI Governor Raghuram Rajan has put the blame on "overall economic downturn", among other reasons, in his submission to the key Parliamentary Panel. Congress leader K