New Delhi

Jet-Etihad Airways deal: SC seeks Centre reply on Swamy's plea

Jet-Etihad Airways deal: SC seeks Centre reply on Swamy's pleaNew Delhi - The Supreme Court Tuesday sought Centre's response within four weeks on pleas by BJP leader Subramanian Swamy seeking Cabinet note concerning Jet-Etihad Airways deal and copy of the transcript of tapped telephonic conversation of former corporate lobbyist Niira Radia in which she had allegedly talked about civil aviation sector.

A bench comprising justices H L Dattu and S A Bobde asked Additional Solicitor General L Nageshwar Rao who accepted the notice on behalf of the Centre to file response on Swamy's application.

PNB launches housing loans at 10.25%

Punjab National BankNew Delhi - To increase business in the festival season, Punjab National Bank (PNB) Tuesday said housing loan of up to Rs 2 crore will attract 10.25 percent interest rate and also announced full waiver of processing fee and documentation charges on housing, car and two-wheeler loans.

Under the festival season bonanza offer for retail loans, housing loans of over Rs two crore will attract interest of 10.50 percent.

The festival bonanza, launched today, would contribute to the growth of GDP and with the onset of festival season, PNB said in a statement.

FinMin orders forensic audit of UCO Bank

FinMin orders forensic audit of UCO BankNew Delhi - The government has ordered limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out any irregularities in sanction of loans.

"We have ordered a limited forensic audit after complaints were filed with regards to some accounts. Those accounts have turned non-performing," official sources said.

This is the fourth public sector bank where forensic audit is being conducted after alleged cash-for-loan scam came to light with the arrest of Syndicate Bank Chairman and Managing Director S K Jain earlier this month.

Now, buy affordable house online on Snapdeal

Snapdeal CEO Kunal BahlNew Delhi - Tata Value Homes, a real estate firm focussed on affordable housing, has partnered with e-commerce major Snapdeal to sell houses through the online marketplace model.

As part of the partnership, about 1,000 homes across projects in cities like Mumbai, Pune, Ahmedabad, Bangalore and Chennai will be put up for sale on Snapdeal. Ranging from 1 BHK to 3 BHK, the houses are priced between Rs 18-70 lakh.

Housing sales drop by 37% in NCR during Jan-June

Housing-sales-dropNew Delhi: Housing sales dropped by 37 percent in Delhi-NCR to nearly 28,500 units during the first six months of this year due to slowdown in the property market, real estate consultant Knight Frank said on Tuesday.

In the year-ago period, the National Capital Region (NCR) had witnessed sales of 45,300 housing units.

Launches of new homes in NCR fell by nearly 43 percent at 35,500 units during January-June 2014 as compared with the corresponding period of last year.

Jaitley reviews security situation with service chiefs

Arun-JaitleyNew Delhi, Aug 26 : Defence Minister Arun Jaitley met the three service chiefs on Tuesday to review the security situation across the country amid continued ceasefire violations by Pakistani troops along the Line of Control in Jammu and Kashmir.

Army Chief General Dalbir Singh Suhag, Air Chief Arup Raha and Navy Chief Admiral R K Dhowan reportedly discussed the steps required to be taken by the armed forces to tackle the situation.

Union Home Minister Rajnath Singh also had a meeting with heads of security and intelligence agencies on the issue on Monday.

Oil Ministry to seek Cabinet nod on diesel deregulation

diesel-priceNew Delhi: Oil Ministry will seek Cabinet nod for freeing diesel prices after retail rates achieve parity with global levels, and has proposed to cut subsidy payout by upstream firm like ONGC by half.

While the government had freed petrol price from its control in June 2010, it had started a phased deregulation of diesel rates in January last year with up to 50 paise a litre increase in rates every month.

Under-recovery, or the difference between retail selling price and its imported cost, has since come down to Rs 1.78 a litre and going by the international trend the pump rates will be at par with their cost by end of October.

Indra Nooyi meets Minister Harsimrat Kaur Badal, pledges double investment in food processing sector

Indra-NooyiNew Delhi, Aug 26 : The Chairman and Chief Executive Officer (CEO) of PepsiCo, Indra Nooyi, who met Minister of Food Processing Industries, Harsimrat Kaur Badal today, has said that her company has already invested substantially in India's food processing sector and they wish to double this investment in the coming years.

Talking about the prospective investment, Harsimrat Kaur said, "Lot of investment is coming, which is substantial. In coming years, it will surely double. So, good amount of investment will continue to come in different parts in India."

Reliance Power commissions 5th unit of its Sasan UMPP

Reliance PowerNew Delhi: Reliance Power on Tuesday announced that the fifth 660 MW unit of its 3,960 MW Sasan ultra mega power project has commenced generation.

With this, the total operational capacity of the Sasan plant in Madhya Pradesh has reached 3,300 MW, Reliance Power said in a release.

Last unit is in advanced stages of construction and will be commissioned over the next few months, the statement added.

Coal production has already commenced from the 20 million tonnes Moher and Moher-Amlohri coal mines associated with the power project.

Dhoni's comments on Fletcher to be discussed at working committee meet: BCCI

Mahendra-Singh-DhoniNew Delhi: Indian captain Mahendra Singh Dhoni`s statement that coach Duncan Fletcher continues to remain the `boss` of the team and will stay till the 2015 World Cup has prompted a livid BCCI to take up the matter at the next Working Committee meeting.

The BCCI top brass is fuming at Dhoni`s comments at the pre-match press conference in Bristol, saying that the captain has "over-stepped his brief" and has no business to decide the tenure of coaches.

United Kingdom to help Modi bring "Ache Din"

Nick-CleggNew Delhi, Aug 25 : Visiting United Kingdom Deputy Prime Minister Nick Clegg on Monday promised to facilitate "Ache Din" or "Good Days" for the Narendra Modi-led NDA Government from London while addressing Indian and British business leaders in the national capital.

" Narendra Modi and BJP's campaign slogan was 'Ache din aanne wale hai' - Good times are coming. My message today is that Britain is ready and able to help India build that brighter future," said Clegg.

SC cancels coal block allocations made between 1993 and 2009

coal-block-allocationsNew Delhi, Aug 25 : The Supreme Court (SC) today held that the coal block allocations made by the central government between the years 1993 and 2009 have been cancelled. The court said these allocations were made in a non-transparent and arbitrary manner.

The apex court today said that no objective criteria were followed and the guidelines were breached in coal block allocations.

President congratulates Turkish PM on his election as President

Pranab-MukherjeeNew Delhi, Aug 25 : President Pranab Mukherjee has congratulated Recep Tayyip Erdogan, the Prime Minister of Republic of Turkey, on his election as the President of the Republic of Turkey.

"On behalf of the people of India and on my own behalf, it gives me great pleasure to extend my greetings and good wishes on your election as the President of the Republic of Turkey," President Mukherjee said in his message to the Prime Minister of the Republic of Turkey.

Kareena Kapoor Khan brings curtains down at LFW 2014

Kareena-KapoorNew Delhi, August 25 : Bollywood's top actress Kareena Kapoor brought the curtains down on the Lakme Fashion Week 2014, as she cat walked the runway for ace fashion designer Manish Malhotra in India's showbiz capital Mumbai.

Manish Malhotra showcased an exclusive bridal trousseau at the Lakme Fashion Week Grand Finale for which he joined forces with make-up maestro, Cory Walia.

Kapoor dazzled the ramp donning a gorgeous metallic purple long lehenga with shades of grey and a complete diamond and silver studded open jacket which was teamed with a net dupatta.

Coal scam: SC likely to pronounce verdict Monday

Coal scam: SC likely to pronounce verdict MondayNew Delhi : The Supreme Court is likely to pronounce it verdict Monday on petitions which seeks quashing of coal blocks allocated during the previous UPA regime.

A bench headed by Chief Justice R M Lodha has examined the allegations about alleged irregularities in the allocation of around 194 coal blocks without following proper guidelines.

The coal blocks were alloted in Jharkhand, Chattisgarh, Maharashtra, West Bengal, Odisha and Madhya Pradesh to private companies and parties bewteen 2004 to March 2011.

FDI in services sector drops 22% during Apr-June

FDI in services sector drops 22% during Apr-JuneNew Delhi - Foreign direct investment (FDI) in services sector declined about 22 percent year-on-year to USD 738 million during April-June period of the ongoing fiscal.

The services sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received FDI worth USD 945 million during April-June 2013, Department of Industrial Policy and Promotion data showed.

FIIs pour in Rs 13,000 cr in Indian bond market in Aug

FIIs pour in Rs 13,000 cr in Indian bond market in AugNew Delhi - Overseas investors have pumped in about Rs 13,000 crore in the Indian debt market so far this month, endorsing the country's growth potential and political stability.

This takes the total investment in the debt market to around Rs 99,000 crore so far this year.

Foreign investors were gross buyers of debt securities worth Rs 31,639 crore till August 22, and sellers to the tune of Rs 18,649 crore - a net inflow of Rs 12,990 crore (USD 2.14 billion), as per latest data.

LIC to invest Rs 50,000 cr in equity market this fiscal: Roy

Life Insurance CorporationNew Delhi - Country's largest insurer Life Insurance Corporation plans to pump in about Rs 50,000 crore in the equity market, taking its total investment including in bonds to Rs 3 lakh crore during the current fiscal.

"We plan to invest about Rs 50,000 crore in the equity market, while Rs 2.50 lakh crore in bonds," LIC Chairman S K Roy said.

He said LIC picked up stocks worth Rs 51,000 crore last fiscal and investments were made across sectors.

As for the bond market, he said investment in this area was Rs 2.40 lakh crore in the last financial year.

Indian exports to ASEAN to touch $280 bn in 10 yrs: StanChart

Indian exports to ASEAN to touch $280 bn in 10 yrs: StanChartNew Delhi - Indian exports to the 10-nation ASEAN bloc is expected to reach USD 280 billion in the next 10 years, says a Standard Chartered research report.

According to the global financial services major, the India-ASEAN trade corridor, currently worth around USD 80 billion, has been growing fast at a compound annual growth rate of 23 percent over the past decade.

In FY 2013-14, India's exports to the bloc stood at USD 33.13 billion.

Energy firms warn against cost-plus pricing for gas

Energy firms warn against cost-plus pricing for gasNew Delhi - Ahead of a panel of secretaries beginning work on a new gas pricing mechanism, an association of top energy firms has warned that going back to cost-plus pricing will be a retrograde step that will lead to rewarding inefficiencies.

The Association of Oil and Gas Operators, which is made up for over two-dozen members including the likes of Reliance Industries, ONGC, Cairn, BP, BG, BHP and Essar, on August 18 wrote to Oil Minister Dharmendra Pradhan listing out pricing challenges and how a market driven pricing will boost output.

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