Larsen & Toubro (L&T), India’s largest engineering, procurement and construction (EPC) player, along with its joint venture partner Mitsubishi-Hitachi Power Systems has secured a large steam generator and associated packages contract for 2×660 (1320) MW thermal power project of UP government in Bulandshahar district. The order comes at a time when thermal power sector is undergoing severe stress and overall boiler, turbine, generator (BTG) orders have depleted consistently over the last four years.

The National Restaurant Association of India (NRAI) will meet online food delivery companies Swiggy and Zomato in the second week of September to take a step closer to resolving the issues of deep discounting and arbitrary commissions, which is a major bone of contention between restaurant associations and food aggregators.

The government on Friday announced the merger of Punjab National Bank, Oriental Bank of Commerce and United Bank of India to create the second-largest banking network in the country with 11,431 branches.

"Punjab National Bank, Oriental Bank of Commerce and United Bank will be brought together and they shall form the second largest public sector bank with the business of Rs 17.95 Lakh crore," Finance Minister Nirmala Sitharaman said at a press conference here.

Amazon.com defended its business strategies in India as it came under fire from a local trader group on Friday over discounted products on the global e-commerce giant's website.

New e-commerce foreign investment rules that took effect in India from February were designed to help small traders by curbing heavy online discounting, but traders have complained that big online retailers use complex business structures to circumvent the rules and continue to burn billions of dollars to offer discounts.

Mumbai: SBI Card & Payments Services Ltd, the credit card subsidiary of State Bank of India (SBI), plans to raise about 80 billion Indian rupees ($1.12 billion) via an initial public offering this year, a senior SBI executive involved in the process said.

SBI has already tapped banks to run the IPO process and a listing is expected to happen in the last quarter of this financial year, bank officials have previously said.

Domestic equity benchmark BSE Sensex jumped over 200 points and the Nifty reclaimed the 11,000 level in early trade on Friday led by gains in financial and energy stocks amid positive global cues.

The 30-share index was trading 205.70 points, or 0.55 per cent, higher at 37,274.63 at 0930 hours, while the broader Nifty rose 61.35 points, or 0.56 %, to 11,009.65.

Gold prices on Thursday jumped Rs 250 to breach the record Rs 40,000 per 10 gram level for the first time at the bullion market here on strong demand from investors amid growing fears of global economic slowdown. Maintaining its record-breaking run for the second day, gold spurted by Rs 250 to a fresh life-time high Rs 40,220 per gram, according to the All India Sarafa Association. The precious metal had soared by Rs 300 to close at Rs 39,970 per 10 grams on Wednesday.

With the government clearing the decks for single-brand retail firms to sell directly via online stores thereby changing the earlier norms of having a brick-and-mortar store first, Apple will start its web stores within the next 3-4 months in the country, sources said. However, the company will take a longer time to set up brick-and-mortar stores —around 18-24 months — as these are spread over a large area like 25,000 sq ft. They also need to be located at prime locations and require logistics like call centres, etc.

WhatsApp is in the final stages of regulatory clearances for the commercial launch of its much-awaited payments service with the instant messaging platform having approached the Reserve Bank of India (RBI) for approval, sources in the know of development said. The company had initiated the process for the launch of its BHIM UPI-compliant payment service over three years ago.

IOC plans giving a big boost to the compressed biogas business by procuring biogas from across India and selling it at its retail outlets, as part of India’s strategy to reduce dependence on imported fuel and double farm income by 2022. Biogas, produced naturally through anaerobic decomposition from waste or biomass sources like agriculture residue, cattle dung, sugarcane press mud and solid waste, also provides an additional source of income to farmers.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.