Expressing disappointment over Reliance Jio moving the Delhi High Court against COAI director general Rajan S Mathews, the industry body reiterated that the allegations made by the operator were without merit and that it will defend its stand in the court. COAI, which represents all the major telecom operators including Jio, maintained that the allegations are ‘patently misconceived’ as all communications were issued in good faith and in furtherance of its duty as an industry association.

Mahindra & Mahindra's (M&M) plan to venture into the Iranian automotive market, for which it recently partnered Azim Khodro, is facing some uncertainty after the US reimposed sanctions on the Persian Gulf country.

A company spokesperson, in response to DNA Money queries, said that the implications of the sanctions are being studied and a "considered decision will be made at an appropriate time".

South Korea has asked India to remove restrictions on gold and silver imports, which were imposed to check abuse of free trade agreement leading to significant surge in the inbound shipments.

In August 2017, India restricted imports of gold and silver items from South Korea to check spurt in the inbound shipments of the precious metals from that country.

In battleground India, caught in the middle of two giants Amazon and Walmart Inc worth more than a trillion dollars combined, are the large number of traditional bricks-and-mortar retailers fighting hard to stay relevant. Aiding them in this fight for survival are a few tech companies, who after being at the receiving end of Jeff Bezos’ ambitious plans globally are hoping to finally counter what is now known as the ‘Amazon Effect’.

New Delhi: State-run Indian Oil Corporation (IOC) on Saturday reduced diesel and petrol prices by 9 paise per litre after automobile fuel prices reached a record high on Tuesday.

Saturday marked the fourth day of meagre price reduction after prices were raised daily since 14 May following a hold during the Karnataka assembly election campaign.

Talks on Microsoft’s plan to acquire software developer platform GitHub has intensified in the past few week, the Business Insider reported.

The acquisition talks turning serious mark a change of strategy as just six months ago GitHub appeared committed to staying independent, the report said on Friday citing people close to the companies.

When asked about what could be the driver for Jeff Bezos’ Amazon business, he pointed out to three possibilities — and India was one of them. Amazon is the biggest e-tailer in India and Jeff Bezos said that investment in e-commerce and technology in India could turn the needle for the company. The other two are award-winning Amazon Studios and Amazon Alexa voice assistant.

New Delhi: Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent US sanctions.

The move by BPCL indicates that refiners will try to frontload their purchases from Iran ahead of a November US deadline for re-imposing sanctions on the country’s petroleum sector.

Fraud-hit Punjab National Bank plans to raise Rs 13,000 crore through stake sale in subsidiaries and recovery of bad loans by September-end, an official said on Friday.

The PSU lender, among other things, is planning to sell stake in its arm PNB Housing Finance where it holds 39.08%.

Calcutta: Sweden's Volvo Car India will stop the production of its diesel powertrains in the next six years as it aggressively pursues its electric mobility vision. Globally, Volvo will start producing only petrol and electric models of its cars from 2019.

"In the next six years, we will completely shift away from diesel in line with our global policy," said Charles Frump, managing director, Volvo Car India, while inaugurating a showroom in Calcutta on Friday.

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