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CEA Arvind Subramanian’s term won’t be extended on his own request

By   /  June 20, 2018  /  Business  /  No Comments

New Delhi, June 20 (IANS) The Chief Economic Advisor (CEA), Arvind Subramanian’s term would not be extended any further as he wants to go back to the US due to family commitments, Finance Minister Arun Jaitley said in a Facebook post on Wednesday. Subramanian had joined as the CEA on October 16, 2014 for a period […]

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General Electric to be removed from Dow index

By   /  June 20, 2018  /  Business  /  No Comments

New York, June 20 (IANS) General Electric is going to lose its place on the Dow Jones Industrial Average after more than 100 years in a move that reflects a fall in the firm’s fortunes and changes to the US economy. Walgreens Boots Alliance is to take its spot on the financial index, which tracks shares […]

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Government to review Air India divestment options

By   /  June 20, 2018  /  Business  /  No Comments

New Delhi, June 20 (IANS) The Central government on Wednesday said that it will review alternative options in place of the recently commenced process of inviting Expression of Interest (EOI) for stake sale which has been called off. The development comes after no bids were received for the EOI. However, the government clearly stated that it […]

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Bank Of Maharashtra CMD arrested in Rs 3,000 cr fake loans case

By   /  June 20, 2018  /  Business  /  No Comments

Pune, June 20 (IANS) In a sudden development, the Economic Offences Wing (EOW) here arrested Ravindra P. Marathe, the Chairman and Managing Director of Bank of Maharashtra, in a case of Rs 3,000 crore fraudulent loans extended to Pune’s DSK Group, an official said here on Wednesday. The EOW has also arrested the bank’s Executive Director […]

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Global cues lift equity indices; Sensex ends over 200 points higher

By   /  June 20, 2018  /  Business  /  No Comments

Mumbai, June 20 (IANS) Broadly positive global cues lifted the key Indian equity indices on Wednesday, with the barometer Sensex of the BSE closing with gains of more than 200 points. According to analysts, banking, metal and auto stocks witnessed healthy buying activity. At 3.30 p.m., the wider Nifty50 of the National Stock Exchange (NSE) provisionally […]

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Chinese President meets Nepal PM

By   /  June 20, 2018  /  Business  /  No Comments

Beijing, June 20 (IANS) Chinese President Xi Jinping met Nepal Prime Minister K.P. Sharma Oli on Wednesday and said Beijing is ready to cooperate with the Himalayan nation under the framework of the Belt and Road Initiative. “China stands ready to strengthen cooperation with Nepal in infrastructure connectivity, post-disaster reconstruction, trade and investment under the framework […]

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Firm Asian cues lift equity indices; Sensex gains over 200 points

By   /  June 20, 2018  /  Business  /  No Comments

Mumbai, June 20 (IANS) Broadly positive Asian cues lifted the key Indian equity indices on Wednesday afternoon, with the barometer Sensex of the BSE gaining over 200 points so far. According to analysts, banking, consumer durables and metal stocks witnessed healthy buying activity. At 1.18 p.m., the wider Nifty50 of the National Stock Exchange (NSE) traded […]

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Cryptocurrency exchange Bithumb loses $30 mn after being hacked

By   /  June 20, 2018  /  Business  /  No Comments

Seoul, June 20 (IANS) Seoul-based cryptocurrency exchange Bithumb on Wednesday announced it had lost over $30 million after being hacked, the second cyberattack in two weeks to hit a major South Korean bitcoin exchange, the media reported. “Bithumb said it had lost $31.56 million (35 billion won) worth of cryptocurrencies and has temporarily halted withdrawal and […]

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A view through an infrastructure investor’s prism

By   /  June 20, 2018  /  Business  /  No Comments

Perspectives on infrastructure assets vary widely: While investors focus on investment returns, policymakers analyse both financial and socio-economic benefits. It would be worthwhile for policymakers to view things through an investor’s investment prism because an understanding of the critical factors that shape investment decisions will help frame better policies to expedite Indian infrastructure creation. The […]

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In an era of productivity slowdown, India has entered AI arena at perfect time

By   /  June 19, 2018  /  Business  /  No Comments

The current global economy is caught in a major paradox. We live in a world where systems using artificial intelligence (AI), robotics and automation are matching or exceeding human performance in more and more domains. Yet, global productivity levels have been stagnant since the economic crisis of 2008. The global total factor productivity (TFP), which […]

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