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March 26, Sunday 2017 4:36 PM       
       HEADLINES: Firework mishap in Kollam again; three injured                                              Kerala driver attacked in Australia                                              12 Indian fishermen arrested by Sri Lankan Navy                                              Senior Al-Qaeda leader behind 2009 attack on Lankan cricket team killed                                              One killed, 13 injured in US nightclub shooting                                              Hamilton on pole for Australian GP with record lap                                              Kohli ruled out, Rahane becomes India's 33rd Test captain                                              FIFA lauds Navi Mumbai venue, says this should be benchmark                                              Debutant Kuldeep takes 4, Australia all-out for 300 on Day 1                                              Kaumudi Facebook
       BUSINESS  
         China win for Apple as court overturns iPhone ruling    
 
 
BEIJING: A Beijing court has overturned a ruling that Apple's iPhone 6 violated a Chinese manufacturer's patent which saw the US tech giant ordered to cease selling the smartphone in China. In May last year the Beijing intellectual property bureau had ruled that Apple violated design patents of Chinese maker Shenzhen Baili with its iPhone6 and iPhone 6 Plus, and would be barred from selling those models.

 
         CBEC to be renamed CBIC under GST regime    
 
 
NEW DELHI: The apex policy making body for indirect taxes, CBEC is being rechristened as theCentral Board of Indirect Taxes & Customs (CBIC) in the run up to the Goods and Services Tax regime to be rolled out from July 1. "The Central Board of Excise & Customs (CBEC) is being renamed as the Central Board of Indirect Taxes & Customs (CBIC), after getting legislative approval," a Finance Ministry statement said.

 
         Sebi bans RIL from equity derivatives market for 1 year    
 
 
NEW DELHI: Sebi today banned Reliance Industries and 12 others from equity derivatives trading for one year and directed the Mukesh Ambani-led firm to disgorge nearly Rs 1,000 crore for alleged fraudulent trading in a 10-year-old case. A company spokesperson said it will challenge the order.

 
         Sensex up for 2nd day, Nifty reclaims 9100 as bank stocks gain    
 
 
MUMBAI: Stock markets extended gains for a second day with the BSE Sensex rising over 89 points and NSE Nifty regaining 9,100 level today as banking stocks rally on Finance Minister Arun Jaitley assurance of finding a solution to NPA problem soon. The 30-share BSE Sensex rose to intra-day high of 29,539.85 before closing at 29,421.40, showing gains of 89.24 points, or 0.30 per cent over last close. The gauge had gained 164.48 points in the previous session.

 
         Govt may table 4 GST bills in Parliament today: Minister    
 
 
NEW DELHI: The government may table four GST supplementary legislations in Parliament today, a union minister said. "We can do it today as well. A meeting on GST will be chaired by Finance Minister Arun Jaitley today," Minister of State for Finance Arjun Ram Meghwal said when asked about tabling of the four GST bills in the Lok Sabha. He was speaking to reporters on the sidelines of an infrastructure event here. The Cabinet on Monday cleared the four GST related bills to enable roll out

 
         Airfares in India among 'lowest' globally: Sinha    
 
 
NEW DELHI: India has one of the lowest and “most competitive” airfares in the world despite high cost of planes and fuel, Union Minister Jayant Sinha said on Wednesday. “These are the two most important costs for an airline. Our taxes are also quite high,” said the Minister of State for Civil Aviation. “But when you look at pricing in India, as far as Indian airlines are concerned, I can assure you that we are among the lowest and most competitive air fares in the world,” he ad

 
         Sensex tanks 318 pts, Nifty slumps below 9100 on global clues    
 
 
MUMBAI: The benchmark BSE Sensex plunged by 318 points to close at nearly two-week low of 29,167.68 largely due to selling in auto, banking, metal and FMCG stocks triggered by weak global markets. The NSE Nifty also slipped below the 9,100 mark by shedding 91.05 points, or 1 per cent, to settle at 9,030.45. Global markets have been under pressure on concerns over Donald Trump's ability to deliver his key policies and missile tests by North Korea, brokers said.

 
         Notes ban to spur economic activity: Govt    
 
 
NEW DELHI: The government's demonetisation move is set to augment the economic growth as interest rates have come down as a result of increased deposits in banks, Parliament was informed today. It is noteworthy that the government is being targeted constantly from across the quarters for nullifying old Rs 500/1,000 notes from circulation in November, contending it would impact the economy negatively as India is a cash dominant market. "After demonetisation, more deposits came into the ba

 
         Govt nod for 18 new airports costing Rs 30,000 cr    
 
NEW DELHI: The government has given in principle approval for setting up 18 airports which together are estimated to cost nearly Rs 30,000 crore. Minister of State for Civil Aviation Jayant Sinha today said the government has granted "in principle" approval for the greenfield airports.

 
         Govt nod for 18 new airports costing Rs 30,000 cr    
 
NEW DELHI: The government has given in principle approval for setting up 18 airports which together are estimated to cost nearly Rs 30,000 crore. Minister of State for Civil Aviation Jayant Sinha today said the government has granted "in principle" approval for the greenfield airports.

 
         Adani Enterprises acquires Adani Infra    
 
NEW DELHI: Adani Enterprises today said it has acquired Adani Infrastructure Pvt Ltd (AIPL), which is yet to commence business operations. AIPL with an authorised and paid up capital of Rs 5 lakh is a subsidiary of Adani Properties Pvt Ltd for development of infrastructure, a promoter group company. "The company has acquired 100 per cent equity share capital of AIPL...The transaction is done at arm's length basis...equity shares are acquired at a face value of Rs 10 each," the company s

 
         Vodafone, Idea Cellular to create new Indian market leader    
 
 
MUMBAI: British telecom major Vodafone and Aditya Birla group-run Idea Cellular today announced the merger of their operations, creating the largest mobile operator by customer and revenue market share. The merged entity, which will come into force over the next two years, will be headed by Kumar Mangalam Birla as Chairman. Vodafone will have its nominee as the chief financial officer, its CEO Vittorio Colao said here at a press meet, which was also attended by Birla.

 
         Softbank appoints Kabir Mishra to Snapdeal board    
 
BENGALURU: Japanese conglomerate Softbank has appointed its most experienced e-commerce veteran Kabir Mishra to the Board of e-commerce firm Snapdeal to support the company. "Softbank has appointed its most experienced e-commerce veteran Kabir Mishra to the board of Snapdeal to support the company," a source privy to the development told PTI.

 
         Idea to sell 2G, 3G, 4G mobile data at same price from Mar-end    
 
 
NEW DELHI: Telecom operator Idea Cellular will start selling 1GB and above mobile data plans across its 2G, 3G and 4G network at same price by the end of this month. "Idea has now announced that it will allow open market data recharges of 1GB and above to work on Idea's 2G, 3G or 4G network without any differential prices and this will be rolled out nationally by March 31, 2017," Idea said in a statement. At present Idea mobile internet plans are priced at different rates. Due to stiff

 
         Airbus to set up its first Asia training facility in Delhi    
 
NEW DELHI: Aircraft maker Airbus will set up a training facility for pilots and maintenance engineers in the national capital to cater to the growing demand of skilled people in the domestic aviation space. Civil Aviation Minister Ashok Gajapathi Raju today performed the ground-breaking ceremony for the Airbus India Training Centre, which will be located close to the international airport here.

 
         BSNL offers 2GB data per day, unlimited calling for Rs 339    
 
 
NEW DELHI: To counter threat from Reliance Jio, state-run telecom firm BSNL today launched a new plan that offers 2 GB of 3G data per day and unlimited calling within its network for Rs 339. "The benefits customer will get under the Combo STV (special tariff voucher) of Rs 339 are unlimited calls in BSNL network and unlimited data with fair use policy of 2 GB per day with validity of 28 days," BSNL said in a statement.

 
         Sensex soars 188 pts, Nifty at fresh closing peak on Fed move    
 
 
MUMBAI: The prospects of a gradual approach to US rate hike gave markets more reason to rejoice as the Sensex today added 188 points to close at a 2-year high of 29,586 and the Nifty hit a new peak of 9,154, buoyed by strong capital flows. The NSE index rose to a record 9,158.45 (intra-day) before ending the day at a new closing high of 9,153.70, up 68.90 points, or 0.76 per cent, breaching its previous record of 9,087 on March 14.

 
         Prominent Australians ask Adani to abandon coal mine project    
 
 
MELBOURNE: Cricket legends Ian and Greg Chappell and other prominent Australians in an unusual move have written to Indian energy giant Adani to abandon its controversial coal mine projectin Queensland, warning it could damage bilateral ties and even hit sporting links. The 21.7 billion dollar Carmichael coal mine project, one of the world's largest, to start construction this year after being given the green light by the federal and Queensland state governments.

 
         Harley-Davidson launches Street Rod at Rs 5.86 lakh    
 
 
NEW DELHI: Harley-Davidson India today launched a new mid-level racing bike Street Rod, at Rs 5.86 lakh (ex-showroom, New Delhi).

 
         India imports petrol, diesel from China    
 
NEW DELHI: India has perhaps for the first time imported petrol and diesel from China as the world's third largest oil consumer looks at diversifying its sources of fuel. India imported 18,000 tonnes of petrol and 39,000 tonnes of diesel in the first nine months of the current fiscal, Oil Minister Dharmendra Pradhan said in a written reply to a question in the Rajya Sabha.

 
         Rupee hits 1-1/2 yr high, surges 78 paise on BJP sweep    
 
 
MUMBAI: The rupee surged by a massive 78 paise to end at a nearly one-and-a-half year high of 65.82 against the US dollar on frantic unwinding of the American currency following BJP's emphatic victory in Uttar Pradesh.

 
         Tata Steel, Wipro in world's most ethical companies' list    
 
NEW DELHI: Two Indian companies, Tata Steel and Wipro, have been named in the list of world's most ethical companies by American think tank Ethisphere Institute. Ethisphere honours those companies who recognise their role in society to influence and drive positive change in the business community and societies around the world. In 2017, there were 124 honorees spanning five continents, 19 countries and 52 industry sectors. "These companies also consider the impact of their actions on

 
         Google in talks with China to stage a comeback: report    
 
 
BEIJING: China and Google are in talks for the internet giant's return to the Chinese mainland after it was pulled out seven years ago following a bitter spat with Beijing over censorship rules. "China has been in touch with Google through various channels. Last year, leaders of our country's important department had further communication with Google," Liu Binjie, a standing committee member of China's Parliament the National People's Congress and former head of the General Administrati

 
         Despite bottom line pressure, FY17 to be the best for airlines    
 
MUMBAI: Airlines are likely to close the outgoing financial year with 22-23 per cent traffic growth, making it one of the best for the sector, even though the pressure on their bottom line is increasing as oil prices are on a northward-ho, says a report. "Airlines are maintaining healthy load factors backed by low fares. But since oil prices are on an uptrend, impact on profitability in Q4 is inevitable as average ATF price during the quarter are 37.9 per cent higher YoY, while the yields co

 
         IIP bounces back in Jan, expands by 2.7 pc    
 
 
NEW DELHI: Industrial production bounced back in January expanding by 2.7 per cent year-on-year mainly due to better performance by the capital goods segment, a barometer of investment activities. The factory output, measured in terms of Index of Industrial Production (IIP), had contracted by 0.1 per cent in December on account of cash crunch following demonetisation of high value currency notes.

 
         12 lakh new notes infused in the market: Jaitley    
 
 
NEW DELHI: Around 12 lakh new currency notes have been infused into the market by the Reserve Bank of India ever since the remonetisation process has started, Finance Minister Arun Jaitley said today. The RBI has informed that till February 24, a total of 11,64,100 new currency notes are in circulation in the market, Jaitley said in the Lok Sabha. "This amount must have now increased to 12 lakh as it has been a fortnight since then," he said during Question Hour.

 
         Tata Motors inks pact with VW, Skoda; products likely from 2019    
 
 
NEW DELHI: Tata Motors today said it has entered into a long-term partnership agreement with Volkswagen Group and Skoda for joint development of products with the first rollout expected in 2019. The agreement was signed by Guenter Butschek, CEO & MD of Tata Motors, Matthias Muller, CEO of Volkswagen AG, and Bernhard Maier, CEO of Skoda Auto, Tata Motors said in a statement.

 
         IIP bounces back in Jan, expands by 2.7 pc    
 
NEW DELHI: Industrial production bounced back in January expanding by 2.7 per cent year-on-year mainly due to better performance by the capital goods segment, a barometer of investment activities.

 
         Paytm to levy 2% fee on topping up wallets with credit cards    
 
 
NEW DELHI: Paytm users will now have to pay a two per cent fee for adding money to their wallets using credit cards. The move by the Alibaba-backed company came after it found multiple users using its platform to get free credit by using credit cards to top up their mobile wallets and transferring the money back to their bank accounts at zero transaction cost.

 
         Surging steel, cement prices may make homes costlier: CREDAI    
 
BENGALURU: Steel and general metals prices have gone up by around 30 per cent each in the last few monthswhich can change the dynamics of the real estate market in Bengaluru in the next two quarters, apex body of Private Real Estate Developers Associations, CREDAI said today.

 
 
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