New Delhi

President greets South Koreans ahead of its National day celebrations

Pranab-MukherjeeNew Delhi, Aug 14 : President Pranab Mukherjee has extended his greetings and felicitations to the Government and people of South Korea on the occasion of its National Day to be celebrated tomorrow.

A Rashtrapati Bhawan press communique stated that in his message to the South Korean President, Park Geun-hye, the President has said, "On behalf of the Government and the people of India and on my own behalf, I extend to you and to the Government and the people of the Republic of Korea, warm greetings and felicitations on the occasion of your National Day."


Piggy Chops celebrates 'unbreakable' spirit of Marry Kom in Mumbai

Priyanka-ChopraNew Delhi, August 14 : Priyanka Chopra, along with Indian filmmaker Omung Kumar and producer Sanjay Leela Bhansali, promoted her upcoming film, which is a biopic on Mary Kom, in Mumbai.


Rajnath Singh stable, discharged from AIIMS

Rajnath-SinghNew Delhi, Aug 14 : Union Home Minister Rajnath Singh, who was admitted to the All India Institute of Medical Sciences (AIIMS) yesterday evening over an intestinal issue, has been discharged from the hospital.

"Rajnath had come for routine checkup . He had a pain in his abdomen, but there is no reason to worry as he is fine now and has been discharged from the hospital," said Union Health Minister Dr. Harshvardhan.

Singh was admitted in the AIIMS yesterday night, with complaints of pain in his lower abdomen. (ANI)


Inflation at 5-month low of 5.19% in July

InflationNew Delhi: Inflation dipped to a five month low of 5.19 percent in July mainly on account of decline in prices of some food articles, vegetables and protein rich items.

It was at 5.43 percent last month and 5.84 percent in July 2013.

Inflation in the overall food articles basket, which account for 14 percent of the total Wholesale Price Index (WPI), stood at 8.43 percent. It was at 8.14 percent in June.

Inflation in vegetables declined 1.27 percent, and for onion it was (-)8.13 percent on an annual basis in July, as per the WPI data released on Thursday.


Insurance Bill sent to Select Committee of Rajya Sabha

InsuranceNew Delhi: Giving in to opposition pressure, the government on Thursday referred the controversial Insurance Bill to the Select Committee of Rajya Sabha.

The House adopted a motion in this regard after Finance Minister Arun Jaitley moved it while informing members that the panel has been asked to look into the Bill and submit its report on the last day of the first week of the next session.


Petrol price slashed: City wise rates

Petrol priceNew Delhi: Petrol price will be cut by Rs 1.89-2.38 per litre from August 15, the second reduction in rates in a month and the steepest in 11 months.

Petrol price, which were last cut by 90 paise (Rs 1.09 a litre after including local sales tax) on August 1, will be further reduced by Rs 1.81 per litre.

After including local sales tax or VAT, the reduction in Delhi comes to Rs 2.18 per litre. Petrol from August 15 here will cost Rs 70.33 a litre as compared to Rs 72.51 currently.

Following are the revised prices of petrol in four metros after oil firms cut rates with effect from midnight of August 14/15:


Bhopal-bound Jet flight aborted after fire alarm

Jet FireNew Delhi: A fire alarm in a Jet Airways flight from here to Bhopal caused a scare as it was about to take off early Thursday.

No one among over the 70 people on board were injured in the incident that took place around 0545 hrs, airport sources said.

The
ATR 72 turbo prop aircraft, operating flight 9W 2654, abandoned take
off after the pilots saw the alarm on the cockpit flight panel.

The
aircraft returned to the bay where the passengers were de-planed. They
were later taken to their destination by another aircraft, the sources
said.--PTI


Lenders may tighten screws on Bhushan Steel, decision on Aug 18

Bhushan SteelNew Delhi : With Rs 40,000 crore exposure to cash-strapped Bhushan Steel, PNB-led bank consortium will meet on August 18 to decide future course of action including setting up a team for day-to-day monitoring of financial affairs of the firm whose MD is embroiled in a bribery case.

"Banks, which together have exposure of about Rs 40,000 crore, will appoint a consultant to conduct forensic audit to ascertain if there was siphoning of bank loans," sources said.

Besides, a decision to station a team of bank nominees to monitor financial affairs at the company would be taken in the consortium meeting on August 18, sources said.


FMC allows MCX to discontinue potato futures

FMC allows MCX to discontinue potato futuresNew Delhi - Leading commodity bourse MCX has been allowed to discontinue potato futures contracts expiring in the current and next month with immediate effect, according to the regulator Forward Markets Commission (FMC).

Earlier this month, MCX had sought the regulator's permission to discontinue potato futures on its platform.

In its letter dated August 6, FMC gave approval to the MCX to discontinue the potato futures contracts expiring in August and September 2014 with immediate effect.


FTIL Q1 net profit up 58% at Rs 128 cr

FTIL Q1 net profit up 58% at Rs 128 crNew Delhi - Financial Technologies (India) Ltd on Wednesday posted 58 percent jump in standalone net profit at Rs 128.24 crore for the first quarter ended June 30, 2014-15, on account of higher income.

The Jignesh Shah-led company had reported net profit of Rs 81.2 crore in the year-ago.

In a filing to the BSE, the FTIL said that total income increased to Rs 216 crore Q1, 2014-15 from Rs 169.54 crore in the same quarter of last fiscal, 2013-14.

The company has also declared first interim dividend of Rs 2 per share to be paid on September 5, the filing added.


MCX seeks exemption from divesting stake in MCX-SX

MCXNew Delhi : Commodity bourse MCX on Wednesday said it has written to Sebi seeking exemption from divesting its entire stake in stock exchange MCX-SX saying the company is no longer acting in concert with erstwhile promoter Financial Technologies.

In the wake of Rs 5,600 crore payment crisis at National Spot Exchange Ltd (NSEL), promoted by Jignesh Shah-led Financial Technologies (India) Ltd, Sebi had directed MCX to divest its stake in MCX-SX as well as MCX-SX Clearing Corporation Ltd.


ONGC net profit up 19% at over Rs 4,000 crore

ONGCNew Delhi: State-owned Oil and Natural Gas Corp on Wednesday reported 19 percent rise in net profit for the April-June quarter on realising higher crude oil prices.

Net profit of Rs 4,782 crore was 19.07 percent higher in the first quarter of 2014-15 than Rs 4,016 crore logged in the year-ago period, ONGC said in a statement here.

ONGC, which had almost flat crude oil production in Q1, had a net realisation of USD 47.51 per barrel as compared to USD 40.33 a barrel in Q1, 2013-14.

This was despite the subsidy outgo rising 4 percent to Rs 13,200 crore.


Petrol prices to be slashed

PetrolNew Delhi, Aug 13 : Petrol prices will be slashed in the country from Rs 1.89 to Rs 2.38 per litre, as per the state.

Petroleum Minister Dharmendra Pradhan has confirmed that for the second time in August, petrol prices will be reduced in the country. The change will take effect on 14 August midnight.

Petrol prices will reduce in Delhi by Rs 2.18 to stand at Rs 70.33 per litre. (ANI)


Tata Power to double generation capacity 18,000 MW by 2022

Tata-PowerNew Delhi: Electricity producer Tata Power aims to double its generation capacity to 18,000 MW from all sources of energy by 2022.

The company generates power from different fuel sources -- thermal (coal, gas and oil), hydroelectric power, renewable energy (wind and solar Photo-Voltaic).

Its current generation capacity is 8,613 MW.

Tata Power generated 11,866 million units from its thermal stations during the quarter ended June 30, 2014.

Its two projects -- Coastal Gujarat Power Ltd (CGPL) and Maithon Power Ltd (MPL)-- were the top contributors to increased generation.


Tata Steel's consolidated profit plunges 70% to Rs 337 cr in Q1

Tata-SteelNew Delhi: Global steel giant Tata Steel's consolidated net profit plunged by 70.38 percent to Rs 337.33 crore in the April-June quarter, mainly due to Rs 1,577 crore write-down in a project.

Tata Steel group had reported a net profit of Rs 1,139.01 crore during the corresponding quarter in 2013-14 .

Net profit for the quarter came in at Rs 337 crores, affected by exceptional charges despite improved operating performances across all geographies, the company said in a statement.


Case against Google for collecting classified data: Govt

Case-against-GoogleNew Delhi: A case has been registered against search giant Google for collecting classified data in violation of the National Map Policy 2005, the government said Wednesday.

"M/s Google India Pvt Ltd, without any approval of Ministry of Defence or any other agency of Government, conducted the Mapathon 2013 competition during February 12, 2013 to March 25, 2013 and collected data, including classified data, in violation of the National Map Policy-2005.


Shashi Tharoor supports Modi's "proxy war" statement

Shashi-TharoorNew Delhi, Aug 13  : Former Minister of State for External Affairs Shashi Tharoor, supporting Prime Minister Narendra Modi's "proxy war" statement, said that India always believes in working towards peace.

He said that if Pakistan shows any signs of working against terrorism then the two countries would like to walk in the same path.


Top 5 richest Indians have half of nation's billionaire wealth

Mukesh-AmbaniNew Delhi: The top five Indian billionaires led by Reliance Industries Chairman Mukesh Ambani collectively control USD 85.5 billion (about Rs 5,23,897 crore) in personal wealth, accounting for nearly half of the country's total billionaire wealth, a new study said Wednesday.

According to the analysis by wealth research firm Wealth-X of India's richest individuals, Mukesh Ambani remains the richest man in the country with an estimated net worth of USD 24.4 billion (about Rs 1,49,474 crore).


New natural gas pricing formula by Sept 30: Govt

Gas pipde lineNew Delhi: Government on Wednesday said it will come out with a new natural gas pricing formula by September 30 keeping in mind the interest of investors and public.

Replying to questions in Rajya Sabha, Oil Minister Dharmendra Pradhan said the NDA government decided to review the pricing formula keeping in mind public interest and recommendations of the Parliamentary Standing Committee.

The Minister did not share details, but said the decision will be taken keeping in mind interest of investors and public and the formula will be announced by September 30.


Gold futures down on weak global cues

goldNew Delhi: Gold prices fell 0.11 percent to Rs 28,699 per 10 gram in futures trade on Wednesday as participants reduced their positions largely with a weak trend overseas amidst subdued demand at domestic spot markets.

At the Multi Commodity Exchange, gold for delivery in October contracts eased by Rs 50, or 0.11 percent, to Rs 28,699 per 10 gram in business turnover of 549 lots.

Likewise, the metal for delivery in far-month December shed Rs 28 or 0.10 percent, to Rs 28,721 per 10 gram in 54 lots.


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