The government is working on a plan to merge state-run BSNL and MTNL as part of strategy to revive the ailing telecom companies. The Union Cabinet is expected to take a final call on the matter.

According to sources, the merger plan is one of the many components of the revival package, which also includes reducing retirement age from 60 to 58, asset monetisation and allocation of 4G spectrum.

Coming down heavily on the government for failing to put in place a non-intrusive indirect tax compliance IT system, the Comptroller and Auditor General (CAG) has slammed it for having a system which remains vulnerable to fraudulent Input Tax Credit (ITC) claims even after two years of the GST rollout.

“The complexity of return mechanism and the technical glitches resulted in the rollback of invoice-matching, rendering the system prone to ITC frauds.

Air India Express, a regional international arm of national carrier Air India, reported a 35.5% drop in net profit of Rs 169 crore for the fiscal ended March 31, 2019, as compared to Rs 262 crore during the previous year.

The low-cost carrier, which first started its operations in 2004, has been registering profits for four years since 2015-16, though its parent company Air India has been struggling to survive due to huge legacy and operational costs.

The body of Cafe Coffee Day founder V G Siddhartha has been found from the Nethravathi river, according to TV reports on Wednesday.

Siddhartha's body was found on the banks of the river near the Hoige Bazaar in Mangaluru, according to news agency ANI.

With the Rajya Sabha passing the Bill on Tuesday evening, Parliament has approved a law to make instant triple talaq a criminal offence. Under the proposed law, which not only the opposition but two of Bharatiya Janata Party (BJP)’s allies opposed, offenders will get a three-year jail term.

US President Donald Trump on Tuesday warned China against waiting out his first term to finalize any trade deal, saying if he wins re-election in the November 2020 US presidential contest, the outcome could be no agreement or a worse one.

"The problem with them waiting ... is that if & when I win, the deal that they get will be much tougher than what we are negotiating now...or no deal at all," Trump said in a post on Twitter, as the latest U.S-China trade talks began in Shanghai.

Mumbai: Private-sector lender Axis Bank is expected to report a net profit of ₹1,855 crore for the June quarter of FY20 compared with a net profit of ₹701.09 crore in the year-ago period, according to a consensus estimate of 23 analysts polled by Bloomberg.

Mumbai: Indian Oil Corp Ltd, India's largest refining and marketing company will invest ₹25, 083 crore this fiscal to meet its capital expenditure, said Sanjiv Singh, Chairman, Indian Oil Corp Ltd (IOCL).

Last fiscal, IOCL had incurred a capital expenditure of ₹28,200 crore.

In a bid to make the Facebook Messenger app lite and faster, the social media giant will migrate Instant Games on to the main Facebook app.

“With our focus on creating a central Instant Games experience on Facebook, and as Messenger moves to be faster, lighter and simpler, we recently started migrating Instant Games play sessions from Messenger to Facebook and the Facebook Gaming tab,” Global Director of Games Partnerships, Leo Oleb announced on Saturday.

Cafe Coffee Day, one of the leading cafe chains in India, on Tuesday sought to allay concerns over business continuity after founder and MD VG Siddhartha went missing, even as a letter written by Siddhartha surfaced, admitting withholding information and wrong business decisions. “I have failed to create the right profitable business model despite my best efforts,” VG Siddhartha said in the letter dated 27 July 2019, released by news agency ANI.

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