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India-Bangladesh trade can double to USD 10 billion by 2018: CII

India-BangladeshNew Delhi, June 24 : The Confederation of Indian Industry (CII) has said that India-Bangladesh trade could double to USD 10 billion by 2018, provided trading irritants like non-tariff barriers and infrastructure related issues are resolved.

"The first stand- alone foreign visit of Sushma Swaraj since taking over as the External Affairs Minister of India to Bangladesh will turn a new leaf in bilateral relations.  CII feels that economic cooperation will get a boost and further

intensify trade and Investment between the two countries," said Chandrajit Banerjee , Director General, CII.

Air India joins Star Alliance

Air-India-Star-AllianceNew Delhi, June 24 : Air India on Tuesday joined the Star Alliance, which might help the airline to increase its revenue by 4-5 percent.

Minister for Civil Aviation, Ashok Gajapathi Raju Pusapati, while announcing Air India's inclusion into Star Alliance, said that Air India will get benefit out of this association as a wider reach and access to existing facilities for the members of the world's biggest grouping of airlines would now be available to the passengers of Air India also.

President accepts Chhattisgarh Governor's resignation

Pranab-MukherjeeNew Delhi, June 24 : President Pranab Mukherjee has accepted the resignation of Shekhar Dutt as Governor of Chhattisgarh.

A Rashtrapati Bhawan press communique said that the president has appointed Ram Naresh Yadav, Governor of Madhya Pradesh , to discharge the functions as the Governor of Chhattisgarh, in addition to his own duties, until regular arrangements for the office of the Governor of Chhattisgarh are made. (ANI)

Sunny Leone walks the ramp for designer Rohit Verma

Sunny-LeoneNew Delhi, June 24 : Sunny Leone was recently spotted walking the runway as a showstopper for designer Rohit Verma in Mumbai.

The 33-year old actress, who wore an ornate gown for the show, praised the collection and said, "I think it's the best collection so far.  It's absolutely beautiful, sexy and different.  I am feeling like a princess today".

Leone was accompanied by her husband Daniel Weber at the event. (ANI)

HDFC Life expects premium growth of 10-15% in FY'15

HDFC-LifeNew Delhi: Private sector insurer HDFC Life on Tuesday said it expects premium growth of up to 15 percent in the current fiscal as the market conditions have improved.

"We expect a growth of 10-15 percent in 2014-15," HDFC Life Senior EVP (marketing) Sanjay Tripathy said.

The company's total premium witnessed 7 percent growth at Rs 12,063 crore in 2013-14, compared to Rs 11,323 crore in the previous fiscal.

Assets Under Management of the company grew by 25 percent to Rs 50,258 crore, from Rs 40,108 crore in 2012-13.

Microsoft unveils Nokia X2 for 99 euros

Microsoft-Nokia-X2New Delhi: Microsoft Devices on Tuesday unveiled the successor to its Android-centred Nokia X handsets - Nokia X2 - priced at 99 euros, beefing up its budget smartphone portfolio to compete more aggressively with the likes of Samsung, HTC and Chinese players like Gionee, Huawei and ZTE.

Nokia X2 will be priced at 99 euros (about Rs 8,100) before taxes and subsidies and will be available immediately in select countries globally, Microsoft said on its official Conversations blog. However, the details on the countries of launch were not disclosed.

Gold falls by Rs 160 on sluggish demand, global cues

GoldNew Delhi: After three sessions of gains, gold prices Tuesday declined by Rs 160 to Rs 28,625 per ten gram in the national capital due to fall in demand at prevailing higher levels amid a weak global trend.

Silver remained under selling pressure and lost another Rs 100 to Rs 44,700 per kg.

Marketmen said besides fall in demand from jewellers and retailers in the spot markets, a weak trend in precious metals overseas amid signs of slowing physical demand led to the fall in gold prices.

India prefers FDI to boost growth rate to 8%: Mayaram

Arvind-MayaramNew Delhi: With growth trending below 5 percent for two successive years, Finance Secretary Arvind Mayaram on Tuesday said India would prefer the FDI route over FII inflows if overseas resources need to be generated to spur economic expansion to its potential level.

"I believe our potential growth rate is 8 percent.  And to get there, we need to develop resources.  And that which we cannot generate domestically must come from outside and if it comes from outside then we prefer it in the form of foreign direct investment (FDI) rather than foreign institutional investment (FII)," Mayaram said at an event here.

Time to take steps to put economy on high-growth path: Jaitley

Arun-JaitleyNew Delhi: Faced with a "challenging" economy, Finance Minister Arun Jaitley on Tuesday said the time has come to take measures that will put the country on a faster pace of growth and restore investor confidence.

"With regard to the Finance Ministry...  This is a challenging time for it and it is challenging because in the last two years, the economy has moved at a slow pace...  Whatever steps have to be taken in this direction, this is the time for it and you will have to wait for this," said Jaitley, who is also Minister for Defence and Corporate Affairs.

Import ban on milk items from China extended by one year

china-milk-itemsNew Delhi: The government has again extended the ban on imports of milk and its products from China for one more year till June 2015.

"Prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionery/ food preparations with milk or milk solids as an ingredient) from China is extended for one more year, i. E., till 23.6.2015 or until further orders, whichever is earlier," Directorate General of Foreign Trade (DGFT) said in a notification.

The ban, which expired on June 23, is extended every year.

Flipkart to launch tablet under private label on June 26

FlipkartNew Delhi: Homegrown online marketplace FlipKart is all set to launch tablet with its own label on June 26.

The Bangalore-based firm, which sells its own brand of electronic and computer accessories like headphones, speakers and pen drives under the DigiFlip range, is expected to launch the tablet under the same label.

While the specification details of FlipKart's device still remain under the wraps, the company is hosting a blogger event on June 26 and has sent out a cryptic invite in form of a jar of tablets.

Hyundai may hike prices if excise duty rises before Budget

Hyundai may hike prices if excise duty rises before BudgetNew Delhi - With uncertainty looming over excise duty structure on automobiles as reduced rates expire on June 30, Hyundai Motor India may raise vehicle prices if the cess rate is reverted back to the levels before the interim Budget in February.

The company, which is India's second largest carmaker by volume, said it had passed on the entire benefit to the customers while absorbing the impact of change of value on dealer stock which was compensated to dealers when the government reduced excise duty in February.

Second high level cabinet meeting on gas price today

Second high level cabinet meeting on gas price todayNew Delhi - The second high level cabinet meeting on gas prices is scheduled to be held on Tuesday. Principal Secretary Nripendra Misra will be chairing the meeting.

Earlier on Sunday, Prime Minister Narendra Modi held a high level meeting to take a decision on gas prices. Finance Minister Arun Jaitley and Oil Minister Dharmendra Pradhan, who met Modi on Sunday, were in the Prime Minister's Office again on Monday to discuss possible tweaks to the Rangarajan price formula, under which the price of gas would rise to USD 8.8 from July from USD 4.2 currently.

Varma appointed director (onshore), ONGC

ONGCNew Delhi: In first oil PSU appointment by the new NDA government, Ashok Varma has been appointed Director (Onshore) of Oil and Natural Gas Corp (ONGC).

Prior to his joining as Director (Onshore) on June 19, he was heading ONGC's Eastern Offshore Asset at Kakinada, where he was instrumental in putting the Eastern Offshore Asset on production.

"Ministry of Petroleum & Natural Gas, Government of India vide letter dated June 19, 2014, has appointed Ashok Varma, as Director (Onshore), ONGC," the company said in a filing to the stock exchange.

Finance Ministry to write to Swiss authorities about Indian account holders: Arun Jaitley

Arun-JaitleyNew Delhi, June 23 : Finance Minister Arun Jaitley confirmed to the media on Monday that the Ministry of Finance will soon be writing to the Swiss authorities for information on Indian account holders in their country, as till now they haven't received any official confirmation.

Sushma holds meeting over upcoming Hajj pilgrimage

Sushma-SwarajNew Delhi, June 23 : External Affairs Minister Sushma Swaraj held a meeting over the upcoming Haj pilgrimage and promised to bring improvement in facilities for the pilgrims.

She also said that she would request Saudi Arabia to withdraw 20 per cent cut in India's quota for the annual pilgrimage.

Swaraj further said that accommodation for pilgrims is a major issue and added that there was a need to think about a long-term solution to the issue. (ANI)

Power Minister to meet bankers today, to discuss bottlenecks

Piyush GoyalNew Delhi: In a bid to restore investor confidence in electricity generation sector, Power Minister Piyush Goyal will meet bankers on Monday to discuss the financing bottlenecks affecting the industry and the way forward.

Goyal's meeting with the bankers may touch upon the key issues of delayed regulatory clearances which led to banks and other financial institutions shying away from investing in the sector.

"I will meet with the bankers on Monday to resolve the conflicts between the power sector borrowers and the banking sector and find a way forward to resolve their problems," the Minister said.

Rail passenger fare hiked by 14.2%, freight rates by 6.5%

TrainNew Delhi: In a pre-budget move, cash-strapped railways on Friday effected a steep across-the-board hike of 14.2 percent in passenger fares in all classes and a 6.5 percent increase in freight rates to garner Rs 8000 crore a year.

The decision, which will come into effect from June 25, marks implementation of an announcement of May 16, the day Lok Sabha election results came, when the hike was announced but put on hold immediately.

In a flip-flop, the Ministry first announced that today's hike will be implemented with immediate effect but later changed it to June 25, saying the officials needed time to execute it.

Arun Jaitley calls rail fare hike decision correct

Arun Jaitley calls rail fare hike decision correctNew Delhi, June 21 : Finance Minister Arun Jaitley here today defended Bharatiya Janata Party (BJP) for increasing railway price.

"The Railway minister has taken a difficult but a correct decision," says Jaitley. "India must decide whether it wants a world class Railway or a ram shackled one. By withdrawing the countermanding order, the present Railway Minister has taken a challenging decision," he added.

Characters like 'Aisha' comes across very rarely in life, says Shraddha Kapoor

Shraddha-KapoorNew Delhi, June 20th : Shradha Kapoor, who will be playing 'Aisha' in her upcoming romantic thriller, said that it was a character which comes across very rarely in life.


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