The two big e-commerce players — Amazon and Flipkart — together are expected to clock gross merchandise value (GMV) ranging between $2.5-3 billion during the five-day festive season sale this year, RedSeer Consulting has estimated in its latest report. This is a jump of almost 67-100% in GMV against a similar period last year, when they together had clocked a GMV of $1.5 billion.

Maruti Suzuki India, the India arm of Suzuki Motor Corp, will start testing a fleet of 50 prototypes of electric vehicles in India from October, said Suzuki Motor Corp Chairman Osamu Suzuki.

“We have decided to launch EVs in India around 2020 in collaboration with Toyota Motor Corporation,” Suzuki said at the opening session of MOVE, the two-day Global Mobility Summit.

President Donald Trump on Friday said he wants to stop the subsidies that growing economies like India and China have been receiving as he wants the US, which he considers as a "developing nation", to grow faster than anybody.

Addressing a fundraiser event in the Fargo city of North Dakota, he also accused the World Trade Organization (WTO) of allowing China to become a "great economic power".

Non-resident Indian (NRI) offshore fund managers have requested the Securities and Exchange Board of India (Sebi) to allow them to own at least 5 per cent in their fund.

In a circular issued on April 10, the market regulator had reiterated that NRIs are not eligible to make investments as foreign portfolio investors (FPIs).

In an emergency meeting on Friday, the board of Infrastructure Leasing & Financial Services (IL&FS) decided to seek a loan of Rs 30 billion from two shareholders — Life Insurance Corporation of India (LIC) and State Bank of India (SBI).

The board decided to meet on September 15 to ensure that IL&FS and other group companies do not default on any further repayment obligation.

Insurance regulator Irdai will set a timeline for the Life Insurance Corporation of India (LIC) on how it must go about reducing its stakeholding from 51 per cent to 15 per cent eventually in IDBI Bank, said Subhash Khuntia, Chairman of the Insurance Regulatory and Development Authority of India (Irdai). He did not specify when the regulator will announce the timeline.

Shares of YES Bank hit an over four-month low of Rs 322 per share, down 5% on the BSE on the back of heavy volumes.

The stock was the largest loser among the S&P BSE Sensex and Nifty 50 index at 02:17 pm. In comparison, the benchmark indices were up 0.2% each.

The Congress has given a call for nationwide shutdown on September 10 to protest against rising fuel prices. It has also asked other Opposition parties and civil society groups to join them.

"The common man was bearing the brunt of the escalating prices of petrol, diesel and cooking gas.

Mumbai: The BSE benchmark Sensex drifted lower by nearly 166 points and the NSE Nifty slipped below the 11,500-level in the opening session on Friday due to intense selling mainly in banking, power and healthcare shares amid weak Asian cues.

The BSE 30-share barometer dropped by 165.72 points, or 0.43 per cent, to 38,077.09 in opening trade as index major Sun Pharma, Yes Bank, SBI, ICICI Bank, NTPC, ONGC and Maruti Suzuki declined.

New Delhi: ONGC Ltd has struck gas in a well at Ashoknagar in Bengal's North 24 Parganas district. The PSU has also found gas in the Vindhyan basin in Madhya Pradesh.

Both the discoveries will now be assessed for their commercial viability, ONGC director (exploration) Ajay Kumar Dwivedi said on Thursday.

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