Business

Vienna: Iran gave OPEC the green light on Friday to reduce oil output by around 0.8 million barrels per day from 2019 after finding a compromise with rival Saudi Arabia over a possible exemption from the cuts, an OPEC source said.

Tehran has emerged as a key

NEW DELHI: IT company HCL Technologies Friday said it will acquire select IBM software products for over Rs 12,700 crore ($1.8 billion) in an all-cash deal. The transaction, subject to "completion of applicable regulatory reviews", is slated to

Investment of $100 billion in the telecom industry, as envisioned in the National Digital Communications Policy 2018 (NDCP), would result in an increase of $1.21 trillion in the country's gross domestic product (GDP) on a cumulative basis, a report said here on Thursday. Currently, India is a $2.5 trillion economy. A 10 per cent hike in

State Bank of India (SBI), the largest commercial lender of the country, offers a zero balance savings account, which can be opened even without valid know-your-customer (KYC) documents. Banks follow a strict KYC procedure before customers open their

Economic growth may become a casualty of the tug-of-war between the government and the central bank. Fitch Ratings lowered its 2018 growth forecast for Asia's third-largest economy to 7.2 per cent from 7.8 per cent seen previously. The financial

The rupee fell by 44 paise against the dollar to close at 70.90 on Thursday, as against its previous close of 70.46, reported news agency Press Trust of India (PTI). Weakness in the domestic equity markets along with

Gold prices on Friday slipped by Rs 20 to close at Rs 32,100 per 10 gram in the bullion market, reported Press Trust of India (PTI). Subdued demand from local jewellers amid flat global market pulled down gold prices, traders were quoted as saying in the PTI report. Silver, on the other

MUMBAI: The rupee appreciated by 46 paise to 70.44 against the US dollar in early trade Friday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and a higher opening of domestic equities. Forex traders said, increased selling of the

Budget carrier GoAir on Thursday announced the launch of direct flight services to Bengaluru, Hyderabad and Chennai from Kannur International Airport, starting December 9. The launch of these services coincide with the inauguration of the newly-built Kannur Airport

New Delhi: Oil Minister Dharmendra Pradhan said on Friday he was hopeful that Organization of the Petroleum Exporting Countries (OPEC) would keep in mind consumers' interests before deciding to cut crude oil production.

OPEC tentatively agreed to an oil output cut on Thursday but was waiting for a commitment from non-OPEC producer Russia before

NEW DELHI: The government on Thursday approved a plan by one state-owned lender to the power industry, Power Finance Corp, to acquire a majority stake in a similar government-controlled lender, REC Ltd, Finance Minister Arun Jaitley said. The

Indian Railways enables passengers to book a series of journeys through its circular journey facility. Train tickets under this option - available on select routes - are issued for journeys that begin and complete at the same station, according to India

Fixed deposit (FDs), also known as term deposits, are secure investment instruments offered by private and public sector banks, small finance banks, non-banking financial companies (NBFCs) and post offices. The funds in these accounts are held for a fixed term, has a

The key equity benchmarks opened in the green on Friday. The S-P BSE Sensex started at 35,494.86 and the Nifty50 barometer of the National Stock Exchange (NSE) at 10,644.80. At 9:17 am, the 30-share Sensex traded at 35,477.34, up 165.21 points or 0.47 per cent and the Nifty50 was at

The Reserve Bank of India (RBI) has been running advertorials to educate people about the facilities offered by commercial banks through basic savings bank deposit accounts (BSBDA). A basic savings bank deposit or BSBD account is a zero-balance account which

The government on Friday appointed Krishnamurthy Subramanian as chief economic advisor, reported news agency Press Trust of India, citing an official release. His appointment is for a period of three years, according to the agency. A professor from the Indian

New Delhi: The government on Thursday approved a policy to boost exports of farm commodities such as tea, coffee, fruits and vegetables, Trade Minister Suresh Prabhu told a news conference.

The policy, approved by Prime Minister Narendra Modi's cabinet, is aimed at helping the country step up exports of an array of farm goods but also seeks to

Gold prices on Thursday rose by Rs 170 to close at Rs 32,120 per 10 gram at the bullion market in the national capital, reported news agency Press Trust of India (PTI). Higher demand during the ongoing wedding season from local jewellers coupled with positive global cues

Domestic stock markets registered sharp gains on Friday, breaking a three-day falling streak, in line with global equities amid sliding crude prices and a rise in the rupee. Bombay Stock Exchange (BSE) benchmark index Sensex

London: Oil fell in choppy trading on Thursday after OPEC ended a key meeting having made no decision on crude output, as it prepared to debate the matter with other exporters the next day.

The Organisation of the Petroleum Exporting Countries (OPEC) met in

Stock markets plunged 1.6 per cent on Thursday with the Sensex closing 572 points lower, led by an across-the-board selloff. The 30-scrip BSE benchmark index finished at 35,312, after falling as much as 617 points - or 1.7 per cent -

The rupee rose by 46 paise to 70.44 against the US dollar in early trade today amid softening crude oil prices, reported news agency Press Trust of India (PTI). Weakness in the American currency, the domestic

India Post, the postal network of the country, offers a variety of banking and remittance services. Besides, India Post also offers a number of small saving schemes for investors. One such savings scheme offered by India Post is the five-year recurring

State Bank of India (SBI) enables its customers to add their PAN or Permanent Account Number card details to their bank account online. SBI customers - holding one or more bank accounts with the bank - can register their PAN with their bank account(s)

Shares of Kotak Mahindra Bank posted their sharpest surge in nearly nine years on Friday following a report that billionaire investor Warren Buffett's Berkshire Hathaway Inc is planning to pick up a 10 per cent stake in the bank. Kotak Mahindra Bank denied the report in a regulatory filing, by saying it is “unaware of any plans by Berkshire Ha

New Delhi: Country's indebted Jet Airways Ltd told its pilot union on Thursday it will clear all salary dues by April and has given them a schedule outlining when the payments will be made, according to a source familiar of the matter.

Jet Airways is facing financial difficulties

Jet Airways is offering up to 30 per cent discount on select domestic and international flight tickets under a special year-end sale, noted the carrier on its official website- jetairways.com. The discount offer is applicable on base fare in both premiere and economy class of

With the wedding season in full swing, consumers are busy shopping for gold. Buying gold is not only considered auspicious but is also believed to bring financial security. Even as historically gold prices perk up during the wedding season, prices of the yellow

New Delhi: India will import crude oil from Iran using a rupee-based payment mechanism, an industry source involved in discussions told news agency Reuters on Thursday, adding that 50 per cent of those payments will be used for exporting items to

NEW DELHI: Fitch Ratings Thursday revised downwards the country's gross domestic product (GDP) growth forecast to 7.2 per cent for current fiscal citing higher financing cost and reduced credit availability. In its Global Economic Outlook, Fitch projected that for 2019-20 and 2020-21 financial years, India's GDP growth will be 7 per cent and 7.1