ECONOMY & NATION


IANS 21 August 2017
The embattled Board of software major Infosys faces a daunting task in finding a suitable Chief Executive Officer (CEO) to succeed technocrat Vishal Sikka who resigned on August 18, US-based global investment bank Jefferies LLC has said. "Given the acrimonious exit (of Sikka), the...

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IANS 21 August 2017
McDonalds India announced it had terminated its franchise agreement with Vikram Bakshi's Connaught Plaza Restaurants. The 169 restaurants operated by the latter will have to stop using the McDonlad's brand name within 15 days. Connaught Plaza Restaurants Pvt Ltd (CPRL) runs McDonald's...

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Biswajit Choudhury (IANS) 21 August 2017
A private electricity distribution company (discom) is scripting a remarkable story of cutting its aggregate technical and commercial (AT&C) losses in rural Odisha, which remains one of only two states not to have joined the Centre's Uday debt restructuring scheme for the hugely indebted...

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IANS 21 August 2017
China will launch the world's fastest train in September which will shorten the travel time between Beijing and Shanghai by more than an hour, authorities said on Monday.   According to the China Railway Corporation, after several successful test runs, the train, called "Fuxing"...

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IANS 21 August 2017
The Supreme Court on Monday granted bail to Lt. Col. Prasad Shrikant Purohit (retired), the main accused in the 2008 Malegaon blast which killed seven people.   A bench of Justice R.K. Agrawal and Justice Abhay Manohar Sapre granted conditional bail to Purohit asking him not to tamper...

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Moneylife Digital Team 21 August 2017
The United Forum of Bank Unions (UFBU), representing 1 million employees, is going on a nationwide strike on 22 August 2017. Usually, bank employees strike work for emoluments-related issues. But, this time, the unions are also protesting against rising banking charges. “Banks are robbing...

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IANS 19 August 2017
Traders across the country faced problems on Saturday as the Goods and Services Tax (GST) filing website stopped functioning for some time, a day ahead of the last date for filing GST returns.   "The GST site has been working intermittently since 12 noon. It is creating a lot of...

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Moneylife Digital Team 18 August 2017
Following the resignation of Vishal Sikka as Infosys’ Managing Director and Chief Executive (CEO), Emkay Global Financial Services Ltd (Emkay) has cut its rating on the company to 'reduce' from 'hold' while revising target price by 7.1% to Rs910.   In its advisory, Emkay says, "Vishal...

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IANS 18 August 2017
The Indian telecom watchdog on Friday announced stricter rules over call drops and said telecom operators who don't meet the norms can be fined at least Rs5 lakh. "Graded financial disincentives in case service providers fail to meet the DCR (drop all rates) benchmarks have been...

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IANS 18 August 2017
The Supreme Court on Friday directed Karti Chidambaram, son of former Finance Minister P. Chidambaram, to appear before the CBI on August 23 in a matter relating to alleged irregularities in FIPB clearance to INX Media.   A bench of Chief Justice Jagdish Singh Khehar and Justice D.Y....

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Moneylife Digital Team 18 August 2017
The feud between Infosys's Board of Directors and the company founder NR Narayana Murthy has come out in the open. Responding to Mr Murthy's letter released to media, the Board has categorically held the founder responsible for the exit of Vishal Sikka, Infosys's Managing Director (MD) and...

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IANS 18 August 2017
The central government on Thursday extended the due date for filing of the Goods and Services Tax (GST) return for taxpayers who want to avail the transitional input tax credit.   As per the laid down rules, the GST for the month of July 2017 has to be paid by August 20, 2017, only...

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IANS 18 August 2017
Banking majors -- PNB and HDFC Bank -- on Thursday said that they will reduce interest rate by 0.5 per cent on saving bank deposits of below Rs 50 lakh to 3.5 per cent per annum with effect from Saturday.   HDFC Bank said that post revision, customers maintaining savings bank account...

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Moneylife Digital Team 18 August 2017
Vishal Sikka on Friday resigned as Managing Director (MD) and Chief Executive Officer (CEO) of Infosys Ltd, the company said in a release. While Sikka has been appointed as Executive Vice Chairman, Infosys has appointed its Chief Operating Officer, UB Pravin Rao as Interim MD and CEO.

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Moneylife Digital Team 17 August 2017
The Delhi High Court had dismissed a plea by New Delhi Television Ltd (NDTV) challenging the Income Tax department's decision to initiate re-assessment proceedings against the news company for assessment year 2008-09 and 2009-10.   While declining to grant any relief to NDTV on its...

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IANS 17 August 2017
The Delhi High Court on Thursday raised questions over youngsters committing suicide while playing the Blue Whale Challenge online game, asking how people are getting influenced by it.   A division bench of Acting Chief Justice Gita Mittal and Justice C. Hari Shankar was hearing a...

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Moneylife Digital Team 17 August 2017
The financial anarchy at DS Kulkarni Enterprises is becoming messier day by day. After defaulting on repayments to thousands of investors, DS Kulkarni & Co, a subsidiary of DS Kulkarni Developers Ltd, had stopped paying all pre-monthly instalments as per agreement for the home loan taken by...

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Srinath Mallikarjunan 17 August 2017
There was a genuine expectation that with the Bharatiya Janata Party (BJP)-led government coming in at the Centre, there would be an effort to have clear and simple rules that would enable any company to get on with it’s primary tasks (product development, and sales). Instead the time and...

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IANS 16 August 2017
The Ministry of Electronics and Information Technology on Wednesday said it has asked 21 smartphone makers across the world -- of which majority are Chinese -- to share the security procedures and processes they have undertaken to ensure security of mobile phone devices.   A senior...

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IANS 16 August 2017
The government on Wednesday said it has full sympathy for those who have booked flats with housing promoters and it is their right to get the houses for which they have paid money.   When asked in this regard at a media briefing after the cabinet meeting, Finance Minister Arun Jaitley...

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