Money laundering is an offence against "society and nation", the ED told the Supreme Court Thursday and said it needed custodial interrogation of former finance minister P Chidambaram to unearth the larger conspiracy in the INX Media money case under PMLA.

The government’s move to relax FDI (foreign direct investment) rule in coal mining is expected to see new technology entering the sector in the coming years, Coal Minister Prahlad Joshi said. The opening up coal mining is one of the biggest reforms and the government already has some mines ready to offer but the details are with the senior officials and the PMO, Prahlad Joshi also told CNBC TV18 in an interview. India may need 1,000 mt of coal from captive and non-captive mines over the next two to three years, he added.

The Insurance Regulatory and Development Authority of India (Irdai) has constituted a working committee for reviewing the current motor third party obligation regulations for insurers and make recommendations to modify the current framework.

In June 2015, the insurance regulator had specified a formula for calculating motor third party obligations for insurers.

The fast-rising Elavenil Valarivan claimed her maiden senior World Cup gold medal, finishing on top in the women's 10m air rifle competition but fancied teammates Anjum Moudgil and Apurvi Chandela ended outside the medal bracket at the ISSF Rifle/Pistol Stage event here.

Mumbai: Domestic equity benchmark BSE Sensex dropped over 250 points in early trade on Thursday dragged by heavy selling in banking stocks ahead of the expiry of August derivatives amid weak cues from other Asian markets.

After hitting a low of 37,191.79, the 30-share index was trading 215.51 points, or 0.58 per cent, lower at 37,236.33 at 0930 hours, while the broader Nifty fell 58.90 points, or 0.53 per cent, to 10,987.20 in early trade.

Mumbai: Most brokerages have cut Nifty earnings by over 5 per cent, with many Nifty companies’ earnings per share (EPS) being downgraded.

“Earnings growth story that was expected to pick up meaningfully this year is getting derailed. We have lowered the Nifty’s earnings by about 5 per cent due to overall slowdown in the economy, post-June 2019 corporate earnings and expectation of a weak second quarter.

Global rating agency Moody’s Investors Service has downgraded private lender Yes Bank’s ratings to junk status with a negative outlook, citing the lower-than- expected capital raised from the recent QIP issue and the plunging share prices that will be a hurdle in raising more funds.

Islamabad: Pakistan Foreign Minister Shah Mehmood Qureshi has made it clear that no decision has yet been taken to close the country's airspace to India, Dawn news reported.

Talking to reporters during a visit to the National Database and Registration Authority (Nadra) on Wednesday, he dismissed as "speculative" all reports on the issue.

NEW DELHI : Trai issues draft of broadcasting and cable services interconnection regulations amendment

The Telecom Regulatory Authority of India on Wednesday released a draft of broadcasting and cable services interconnection regulations amendment.

The story at Wipro Ltd in recent years has been a series of false starts. Even as revenue growth for its larger peers, Tata Consultancy Services Ltd (TCS) and Infosys Ltd, accelerated, Wipro lagged. But one metric where the company is scoring is cash conversion.

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