Extending its gains, the rupee on Friday opened 18 paise higher at 69.67 against the US dollar on the back of free fall in crude oil prices and heavy buying by foreign institutional investors (FIIs).

The domestic unit on Thursday breached the 70-mark for the first time since August 27 to end at a three-month high of 69.85 per US dollar.

Blaming Reliance Jio for financial woes of the telecom sector, employee unions of BSNL on Wednesday alleged that the government was favouring the latest entrant over other firms and said they will go on an indefinite strike from December 3.

The employee unions claimed that the government has not allotted spectrum for 4G services to BSNL in order to prevent it from competing against Reliance Jio.

New Delhi: The second big merger of state lenders by the Narendra Modi government will be completed this financial year and the merged bank will start operations from the new fiscal.

Sources said the share swap ratio for the merger of Dena Bank and Vijaya Bank with the larger bank Bank of Baroda will be decided next month and the merged entity will kick off operations from April 1, 2019.

New Delhi: Country’s largest bank SBI or State Bank of India has increased fixed deposit or FD rates for some select maturity periods. This move comes after rate hikes by other major banks including ICICI Bank and HDFC Bank. The revised SBI rates on retail FDs of less than Rs 1 crore are effective from today. According to the revised rates, SBI is offering 6.8% interest rate on FDs with maturity period of one to two years, as compared to 6.7% earlier.

Bangalore: Shares of Yes Bank Ltd plunged to their lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender’s debt instruments. India’s fifth largest private-sector lender by assets has had a tumultuous couple of months, with its stock nearly halving in value this year and a number of departures from its board, since the country’s central bank cut short its chief executive officer’s term in September.

Bengaluru: Some analysts have questioned the methodology used by investment bank Barclays to conclude that Amazon India generated significantly higher sales than Flipkart in the last financial year, sparking a fresh debate about who dominates India’s $18 billion online retail market. If the Barclays report is accurate, then Walmart Inc., which agreed to buy a 77% stake in Flipkart for $16 billion in May, may have overpaid for the online retailer, other analysts said.

The Indian Space Research Organisation's trusted workhorse PSLV-C43 successfully lifted off with earth observation satellite HysIS, along with 30 other customer satellites at 9:57 am on Thursday from the Satish Dhawan Space Centre at Sriharikota in Andhra Pradesh.

The Hyperspectral Imaging Satellite (HysIS), an earth-observation satellite developed by ISRO, is the primary satellite of the PSLV-C43 mission.

Comments by Federal Reserve Chair Jerome Powell that benchmark U.S. interest rates were “just below” neutral sparked a sharp rally on Wall Street on Wednesday, easing investor worries about the pace of rate hikes by the U.S. central bank next year. Hopes that the United States and China could call a trade war ceasefire at the upcoming G20 summit in Argentina also boosted stocks around the globe.

Telecom regulator Trai on Wednesday decided to retain the existing charges that can be levied by cable landing stations for providing international connectivity through submarine cables. The Telecom Regulatory Authority of India capped charges for accessing low capacity STM-1 at Rs 36,000 per annum and Rs 6.25 lakh for high capacity STM-64 per unit capacity

Reliance Industrial Investments and Holdings (RIIHL), a wholly owned subsidiary of Reliance Industries, has invested in New Emerging World of Journalism Private (NEWJ), a start-up that curates and produces video content for smartphone users. As initial tranche, RIIHL has subscribed to 30,000 equity shares and 125 compulsory convertible debentures for total cash aggregating to Rs 1.03 crore and consequently NEWJ has become a subsidiary of RIIHL and RIL, a company statement said.

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.