Business

Crude oil imports rose to a 4-month peak in August, while fuel oil imports climbed to the highest in more than eight years, data from the oil ministry's Petroleum Planning and Analysis Cell (PPAC) showed on Monday.

Crude imports into the world's

Domestic equity benchmarks cheered the government's move to cut corporate tax rates for second session in a row and the S-P BSE Sensex surged 1,331.39 points and Nifty 50 index surpassed 11,650 mark outperforming the other Asian peers, a session after clocking the biggest single day gain in over a

The US corporate sector has lauded the Indian government for substantially slashing the income tax rate to 25.17 per cent, saying the move will reverse the economic slowdown and allow global companies a "good option" for growing their manufacturing base in the country.

The government on Friday slashed the income tax rate for companies

Oil minister Dharmendra Pradhan said on Monday global oil prices would ease if there is no further escalation of geopolitical tensions.

Oil prices had jumped by as much as 19 per cent early last week before coming off peaks after an attack on

The spiralling onion prices due to supply shortage are proving difficult for the government to control.

Onion was quoted 25 per cent higher on Friday at Delhi's Azadpur Mandi, a major market of the Agriculture Produce Marketing Committee (APMC). Several other markets

Private sector lender ICICI Bank on Monday announced that it will expand its retail network in the country by adding 450 new branches this fiscal year. Of these, the bank has made 320 branches operational for customers. Another set of 130 branches will be

Around four lakh bank employees across the country are set to go on 2-day strike in September to protest against the merger of public sector banks, reported news agency Asian News International. The strike has been called by four bank unions- All India Bank

The National Restaurant Association of India (NRAI) on Saturday slammed Zomato for extending its "Gold" programme on its delivery platform, saying it is a desperate attempt by the online food aggregator to shore up the sinking fortunes of its flagship Gold programme.

Zomato has announced to take its Gold programme where existing and new

Government aims to sell two or three state-owned firms to local or foreign firms to raise up to Rs 60,000 crore ($8.5 billion) by March 2020, a senior Finance Ministry official said on Monday.

The government planned to sell Bharat Petroleum Corp, logistics firm Container Corp of India and debt-laden Air India before the end of the

The Punjab National Bank (PNB), which is the anchor bank for a scheduled merger with the United Bank of India (UBI) and the Oriental Bank of Commerce (OBC), has said that it does not see any erosion in asset quality after the merger and the best HR, process and products will be

The all-powerful GST Council on Friday more than doubled the tax on caffeinated beverages to 40 per cent and slashed the rate on hotel room tariffs. Briefing reporters after a meeting of the panel, Finance Minister Nirmala Sitharaman said the

The S-P BSE Sensex and NSE Nifty 50 indices skyrocketed for second straight session after the investor sentiment got a boost from corporate tax rate cuts announced by Finance Minister Nirmala Sitharaman on Friday. The Sensex surged as much as 1,426

State Bank of India or SBI, the country's largest lender, has withdrawn the repo-rate linked home loan scheme. The bank mentioned this on its official Twitter handle while responding to a customer's query. "Kindly note that RLLR based home loan scheme have been withdrawn. You can get the

Secured lenders of four of the amber entities of IL-FS have rejected the proposals for restructuring of debt. The response of the lenders was recorded at a hearing of the National Company Law Appellate Tribunal (NCLAT) in Delhi on September 4. Most of these companies were

Britannia shares jumped as much as 20 per cent on Monday amid large volumes. On the Bombay Stock Exchange (BSE), the Britannia shares rose as much as 20.12 per cent to Rs 3,443.90 apiece during the session, before giving up some of those gains. That

The GST or Goods and Services Tax Council on Friday slashed the rate on hotel room tariffs. The move was welcomed by luxury hotel chains. The tax on room tariff of above Rs 7,500 was lowered to 18 per cent from the existing 28 per cent. The Council

Reliance Jio Infocomm has priced the monthly plans for its optical fiber-based broadband service JioFiber between Rs 699 and Rs 8,499. The telecom arm of billionaire Mukesh Ambani-led Reliance Industries, which commercially rolled out its "fiber-to-the-home"

State-run oil marketing companies increased petrol and diesel prices on Monday, marking a seventh straight day of hike in the fuel rates. With effect from 6 am on Monday, the price of petrol was at Rs 73.91 per litre in Delhi, Rs 76.60 per litre in

The Centre is mulling imposing stock limits on onion traders as the retail prices of the key kitchen staple have shot up to Rs 70-80 per kg in the national capital and other parts of the country owing to supply disruption in the wake of excess monsoon rains in the

The credit from banks must growby 12 per cent every year to meet the Centre's target to achieve a $5-trillion economy within the next five yearsand the step taken for mergers of the PSBs is in the rightdirection to meet the goal, a top SBI official said Friday. Supporting the move to

Thomas Cook bankruptcy: Thomas Cook India shares fell as much as 9.26 per cent to Rs 142 on a day when Sensex and Nifty surged over 3 per cent despite the company saying that it has no relation with the Thomas Cook UK. Thomas Cook Group Plc collapsed under a pile of debt after talks

Petrol prices have been increased by Rs 1.59 a litre and diesel by Rs 1.31 in the last six days -- the most since the current system of daily price reviews was introduced in 2017. Petrol price on Sunday was hiked by 27 paise

Physical gold demand was lacklustre in most Asian hubs this week as price dips were not enough to lure in buyers and the Indian retail market saw little activity before a festival season. Global benchmark prices slipped about 1 per cent

Shares of Petronet LNG surged as much as 13.17 per cent to Rs 302 but erased gains and fell as much as 7.40 per cent to Rs 247.10 on the BSE. Petronet LNG signed a memorandum of understanding with US-based Tellurian Inc. on Saturday at Houston, USA. On

Petronet LNG and US liquefied natural gas developer Tellurian Inc signed an initial agreement under which the Indian company and its affiliates will negotiate to buy up to 5 million tonnes per annum of liquefied natural gas, the companies said on Saturday.

Petronet will take

Reserve Bank of India Governor Shaktikanta Das said on Friday that with the government spending gaining momentum, economic growth is expected to be better in the second quarter of the current financial year. The comments from the RBI Governor come on a day Finance Minister Nirmala Sitharaman

State Bank of India (SBI) said on Monday that it would adopt the repo rate as external benchmark for all its floating rate-based loans from October 1. The move by the country's largest bank comes within three weeks of the Reserve Bank of India (RBI)

Corporate tax reduction is credit positive for companies but increases the government's fiscal risks, global rating agency Moody's said on Saturday.

On September 20, Finance minister Nirmala Sitharaman announced a reduction in the base corporate tax rate to 22 per cent from 30 per cent as part of

The rupee settled 40 paise higher against the dollar on Friday. The local currency opened on a strong note at 71.19 and shuttled between a high of 70.68 and a low of 71.19 during the day. The domestic unit finally settled at 70.94.