Reliance Industries Limited (RIL) is set to divest a 20 per cent stake in its oil-to-chemicals business to Saudi Aramco, enabling the Indian conglomerate to shed debt, while giving Aramco improved access to a fast growing market.

Saudi Aramco is offering Reliance $15 billion for the stake — one of the largest foreign direct investments into India. RIL will get another $1 billion, or Rs 7,000 crore, from a joint venture with BP that will retail auto fuels and ATF in the country.

The Reserve Bank of India’s decision to cut the policy repo rate by 35 basis points has unleashed a series of implications for the debt market, which no investor can afford to ignore. The apex bank’s latest stance, largely being billed as “accommodative”, comes at a time large sections of the economy are said to be ailing. Several key areas, including automobiles, financial services, capital goods and power, are displaying signs of weakness.

NEW DELHI: Six candidates, including incumbent Ravi Shastri, were on Monday short-listed for the high-profile post of the Indian cricket team's head coach.

The six candidates are former New Zealand coach Mike Hesson, ex-Australia all-rounder and Sri Lanka coach Tom Moody, former West Indies all-rounder and Afghanistan coach Phil Simmons, ex-India team manager Lalchand Rajput, former India fielding coach Robin Singh and Ravi Shastri.

The government has detected Goods and Services Tax (GST) evasion of over Rs 45,000 crore during the financial year 2018-19. Of this, tax sleuths have recovered an amount of Rs 25,000 crore during this period, as per the data available with the finance ministry. The revenue department of the ministry has registered around 37,000 cases in the last fiscal.

As many as 43 people died, while three remained missing on Monday in the Pune division as incessant rainfall continued to batter Maharashtra, an official statement said.

A statement from the Divisional Commissioner Office in Pune revealed that over four lakh people were evacuated from as many as 584 villages to safer places due to floods in the five districts of Pune division.

US President Donald Trump’s administration unveiled a sweeping rule on Monday that some experts say could cut legal immigration in half by denying visas and permanent residency to hundreds of thousands of people for being too poor.

The long-anticipated rule, pushed by Trump’s leading aide on immigration, Stephen Miller, takes effect Oct. 15. It would reject applicants for temporary or permanent visas if they fail to meet high enough income standards or if they receive public assistance such as welfare, food stamps, public housing or Medicaid.

New Delhi: Debt-ridden Reliance Communications on Friday reported widening of consolidated loss to Rs 366 crore in the first quarter ended June 30, 2019.

The company had posted a loss of Rs 342 crore in the same period a year ago.

New Delhi: Skills and talent development company NIIT Ltd on Saturday posted a consolidated net profit of ₹1,090.4 crore for the June quarter, and said its board has approved a buyback programme of up to ₹335 crore.

Net revenue declined by 2% to ₹210.3 crore during the first quarter, from ₹214.3 crore in the year-ago period.

State-owned power giant NTPC on Saturday posted a 5.63 per cent rise in its consolidated net profit to Rs 2,840.28 crore in the June 2019 quarter.

Its net profit was Rs 2,688.96 crore in the corresponding period a year ago, the company said in a BSE filing.

In a move that may fulfil Prime Minister Narendra Modi’s dream of reducing India’s dependence on energy imports, state-run fuel retailers — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp will soon start a collection drive for its ambitious program that aims at converting used cooking oil to biodiesel. These oil corporations are expected to float an Expression of Interest application for procurement of Used Cooking Oil across 100 cities, Ministry of Petroleum and Natural Gas said in a statement on Thursday.

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