Bhushan Steel to be rechristened as Tata Steel BSL Limited

The name change is part of the post-acquisition integration exercise to merge Bhushan Steel with its new parent

RBI likely to raise rates at Friday#39;s review

Despite the rise in oil prices, the headline inflation number came down to 3.69 percent for August as against 4.17 percent for July. If the RBI increases repo rate by 25 basis points (bps), then it would be the third consecutive rate hike.

Dr Reddy#39;s Labs terminates Armis Biopharma#39;s licence for its investigational antibacterial product

According to a press release issued by the Indian drug maker, as a result of the termination, Dr Reddy#39;s has regained worldwide rights to DFA-02, and is currently evaluating its options to take the programme forward.

GMR emerges highest bidder for Nagpur Airport project

According to a press release issued by GMR Monday the project involves upgradation, modernisation, operation and maintenance of Nagpur Airport for a period of 30 years and includes construction of a new terminal amongst other works.

Petrol prices at record high in India: Check how much it costs around the world

On October 1, petrol prices hit Rs 91.08/litre in Mumbai and Rs 83.73/litre in Delhi. Here#39;s a look at 10 countries where it is the cheapest and most expensive.

Exclusive: Govt moves NCLT, likely to supersede ILFS board

The government will take a Satyam-like approach to deal with ILFS situation.

Excl: Govt moves NCLT, likely to supersede ILFS board

The government will take a Satyam-like approach to deal with ILFS situation.

Dr Reddy#39;s terminates Armis Biopharma#39;s investigation license of DFA-02

According to a press release issued by the Indian drug maker, as a result of the termination, Dr Reddy#39;s has regained worldwide rights to DFA-02, and is currently evaluating its options to take the programme forward.

Asia factory activity sputters as trade woes hit export orders

Manufacturing activity weakened in Vietnam and Indonesia last month, while Taiwan#39;s factories grew at the slowest pace in more than two years on sluggish export orders, according to business surveys released on Monday.

LIC unlikely to offer immediate line of credit to ILFS

ILFS, which has missed more than five debt payments since August and downgraded by three rating agencies, has filed an application with NCLT

Three waste-to-energy plants in Delhi causing pollution, NGT orders fresh inspection

A joint inspection committee told a bench headed by NGT Chairperson Justice A K Goel that the three plants are non-compliant with respect to the standards of the particulate matter emitted by them

PNB fraud: ED attaches Rs 637 crore assets of Nirav Modi, family in 5 countries

The agency said the properties, jewellery, flats and bank balances are in India, UK and New York among others.

Flipkart in talks to raise fresh capital from investors: Report

Walmart had indicated that it would bring in more strategic investors on board at some point. One such investor at the time was Google

Gold slips as dollar firms amid Fed rate hike view

Spot gold was down 0.3 percent at $1,188.41 at 0407 GMT. On Friday, gold touched its lowest since August 17 at $1,180.34 an ounce.

Gurugram locality without water supply, residents blame builder

The association has sought help from Gurgaon Deputy Commissioner (DC) Vinay Pratap Singh and urged him to intervene and provide an alternative source of water to the residents Aardee City Society

India September factory growth picks up pace on strong demand and exports

The Nikkei Manufacturing Purchasing Managers#39; Index, compiled by IHS Markit, rose to 52.2 in September from 51.7 in August.

Maruti Suzuki September sales fall 0.5% YoY to 1.62 lakh units

Higher fuel cost, product price hikes, increasing interest rates and the on-going shraadh period hit the company#39;s retail and wholesale sales

Maruti Suzuki September sales fall 0.5% YoY to 1.62 lakh units

Higher fuel cost, product price hikes, increasing interest rates and the on-going shraadh period hit the company#39;s retail and wholesale sales

Fearing insolvency action, defaulting companies cough up Rs 1.1 lakh crore: Report

When the Insolvency Bankruptcy Board of India (IBBI) was formed two years ago, the regulator wanted to meet bank chiefs but bankers were unwilling, the report said

Bajaj Auto posts highest monthly sales in September, up 17% at 5.02 lakh units

Bajaj Auto said motorcycle sales in September 2018 jumped 17 percent to 4.30 lakh units and 3-wheeler sales spiked 20 percent to 71,070 units compared to corresponding month last year.

Iraq aims to boost light crude exports to 1 million bpd in 2019

The light crude oil is a new grade with an API gravity of around 34-43, while the current Basrah Light grade that Iraq exports will be renamed Basrah Medium, one Iraqi industry source familiar with the matter said.

Brent oil rises to four-year high ahead of Iran sanctions, traders eye more hikes

Brent crude oil futures were trading at $83.24 per barrel at 0228 GMT, up 51 cents, or 0.3 percent, their highest level since November 2014.

Coca-Cola, Nestle Unilever shortlisted by GSK for Horlicks sale: Report

GSK is looking to sell 72.5 percent stake in its Indian subsidiary

Petrol crosses Rs 91/litre, diesel close to Rs 80/litre in Mumbai

In Delhi, prices of compressed natural gas (CNG) rose Rs 1.7 to Rs 44.30/kg. Prices of subsidised LPG cylinders too increased Rs 2.89 at Rs 502.4 per cylinder.

News LIVE: Maharashtra Pollution Control Board to act against manufacturers from today

This blog will keep track of key global and local developments impacting business and markets through the day. Important local and global political developments will also find resonance here.

SBI cuts ATM cash withdrawal limit to Rs 20,000 per day: Report

The new withdrawal limit on cards will be effective from October 31, weeks before the festival season

Canada, US reach deal to update NAFTA: Canadian sources

Word of the deal came as Canadian Prime Minister Justin Trudeau convened a 10 p.m. (0200 GMT Monday) Cabinet meeting to discuss the North American Free Trade Agreement talks.

IMF, WB and WTO seek removal of barriers to service trade

The WTO Deputy Chief Economist Alexander Keck, told reporters during a conference call that service sector has an enormous contributor to growth and to trade including manufacturing trade.

Air India to deploy #39;Jumbo#39; jet on Mumbai, Kolkata routes in Oct-Nov

With 12 seats in first class, 26 in business and 385 in economy class, the #39;Jumbo#39; plane will operate one flight per day each to Kolkata and Mumbai from New Delhi between October 16 and October 21, Air India said in a statement.

The highs and lows in Elon Musk#39;s life: Telsa CEO to cough up $40 million in fines

From building spacecrafts and Flamethrowers to tweeting sensitive info, Elon Musk has been there and done that. Here#39;s how the business magnate/investor#39;s made headlines for the better part of the millennium, albeit not always for the right reasons.

Amazon India unveils #39;Select#39; to help brands in growth journey

Amazon India, which competes head-on with Walmart-backed rival Flipkart, has also recently crossed the milestone of four lakh sellers on its platform.

Marc Faber is wrong. 2028 or 2038 or later, the rupee is unlikely to ever hit 100

Some of the reasons why this may not happen, include the new 4% inflation target and India#39;s rapid growth.

Government owes Air India over Rs 1146.86 crore for VVIP charter flights

Some of the oldest pending bills for the visits of the president, the vice president and the evacuation flights are nearly 10-year-old, the data furnished by Air India says.

IRDAI allows GIC to retain its first right to offer reinsurance in India

New regulations for the reinsurance business in India were finalised by the insurance regulator at its September 28 meeting and will apply to all segments of the insurance sector from March next year

News in Pics: Your daily dose of pictures from around the world

Moneycontrol brings to you select pictures that are making headlines across the globe.

US economic growth, rupee fall to boost Indian exports: Assocham

The US emerged as the top export destination for India, with $47.9 billion worth of shipments in the last fiscal ended March, followed by the UAE and Hong Kong, the commerce ministry data showed.

Lakshmi Vilas Bank to raise around Rs 2000 crore via preference share sale; appoints JP Morgan

Last fiscal, the bank had added over Rs 2,915 crore in fresh bad loans, leaving it with a net loss of Rs 585 crore against a profit of Rs 256 crore in the previous fiscal year.

Godrej Locks eyes Rs 1,000 crore in sales by FY22

This year, the company aims to clock a revenue of Rs 720-750 crore from over Rs 600 crore in FY 18.

ITC pulls out of Horlicks, Complan acquisition race, says valuations too high

Diversified conglomerate indicates it would venture into the health food segment and build its own brand.

Aviation Ministry asks FinMin to decide on Air India funding soon: Report

The airline’s operations have hit a snag due to financial problems and rising dues

US, Japanese, Middle Eastern firms interested in OPaL stake

ONGC is now looking at restructuring the equity of OPaL and is exploring the option of roping in a foreign partner.

Mankind Pharma eyes $1 billion topline by FY21

The company is also looking at increasing its exports substantially to $100-150 million in the next three years from the present $10 million.

Tata Steel aims to raise production at Bhushan Steel’s Odisha plant to 4 MT by FY19-end

Bhushan Steel#39;s Odisha plant is presently operating at 3.5 million tonne against a capacity of 5 million tonne

KKR, Blackstone may acquire stake in Shriram Group for $3 billion: Report

As per the report, before the deal, Shriram Capital, the group holding company, would have to finalise plans for a three-way merger with its publicly traded arms: Shriram Transport Finance and Shriram City Union Finance

Alvarez Marshal to chalk out ILFS revival strategy

The decision was taken by the crisis-ridden company#39;s board after the AGM on September 29.

BoB, Vijaya Bank approve merger proposal to create second largest PSU lender

The board of directors of the bank at their meeting decided to give its #39;in-principle approval#39; for amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda and commence the process for the same, subject to applicable approvals, Bank of Baroda said in a regulatory filing.

Probe ordered after polio vaccines found contaminated, Gzb pharma company MD held

The managing director of Biomed, which was supplying polio vaccines for only government-run immunisation programmes, was arrested after the Central Drug Regulator filed an FIR in this case.

PNB raises benchmark lending rate by up to 0.2%

The rate hike comes ahead of monetary policy review announcement on October 5.

ILFS appoints Alvarez and Marsal as specialist agency to develop debt restructuring plan

At the AGM, the company passed a resolution to raise capital through rights issue worth about Rs 4,500 crore, approach NCLT for asset sale resolution and get liquidity to repay debtors

Want to make Uzbekistan part of the Silicon route on lines of Silk Route: Suresh Prabhu

India and Uzbekistan could cooperate to foster the development of new and advanced technologies and with that create the new Silicon route, he said, adding that the two countries needed to strengthen collaboration in the services sector.

Vijaya Bank board approves merger proposal with Bank of Baroda, Dena Bank

The board at their meeting held Saturday decided to give its in-principle approval for amalgamation of Vijaya Bank along with Bank of Baroda and Dena Bank in line with the Finance Ministry proposal of September 17 subject to all statutory approvals, Vijaya Bank said in a filing to exchanges.