Union Transport Minister Nitin Gadkari has spoken to NHAI Chairman and directed him to send team of officials to NH8 immediately. Thousands of office goers and other commuters were on Friday stranded in Gurugram as heavy rains led to waterlogging on National Highway-8 causing massive traffic jams, forcing authorities to shut down schools in Delhi's satellite city while some offices too declared it an off.

Hurt by a failed $7.6 billion Nokia experiment amid growing losses in the smartphone hardware business segment, Microsoft has announced to lay off an additional 2,850 workers to the previously 1,850 jobs it said it would cut.

In a regulatory filing, the tech giant said it will cut 4,700 jobs globally by the end of fiscal year 2017, PC World reported on Friday.

A team of researchers has come up with a way to use "veritable wonder material" graphene oxide sheets to turn dirty water clean for a thirsty world.

According to the engineers at Washington University in St. Louis, the novel hybrid nanomaterials could be a global game-changer.

Benchmark share indices shrugged off weak global cues to end higher followig the expiry of July F&O derivative contracts after the recent developments in the parliament rekindled hopes of the GST Bill getting passed in the ongoing monsoon session of Parliament.

The capital markets regulator is considering allowing the purchase of mutual funds using digital wallets, or e-wallets, in an effort to expand access to such investment products, two persons with direct knowledge of the matter said.

The Securities and Exchange Board of India (Sebi) is in talks with the Reserve Bank of India (RBI) to frame regulations allowing such transactions, one of the two persons said. Both spoke on condition of anonymity.

Maruti Suzuki India (MSI) aims to have 250 Nexa outlets by March 2017 and expects the premium sales and service outlets to contribute 15 per cent of the company’s sales by 2020.

Launched in July 2015, Nexa today completed one year of operations. It currently has 150 outlets across 94 cities.

Despite its gross non-performing assets (NPA) more than doubling over the past year, Yes Bank on Wednesday reported a 33% year-on-year rise in its net profit for the June quarter to `731.80 crore, benefiting from a surge in non-interest income and higher net interest income.

The private sector lender’s total income for the quarter came in at `4,762.83 crore, over 25% higher than in the same quarter last year.

NEW DELHI: State Bank of India will refinance debt of Rs 28,000 crore that will be transferred to the entity emerging from merger of the wireless business of Reliance Communications and Aircel, expected to be announced next month, a person familiar with the matter said.

Under broad terms of refinancing, "maturity period of the loans will be 20 years as against the existing tenures of 4-5 years on both sides," the person said. The promoters of RCom and Aircel are set to announce a merger pact around the second week of August, having finalised all details to combine their wireless businesses, which would create a strong no. 4 telco.

MUMBAI: Retail loans may have been a safe haven for banks, battered by mounting corporate bad loans, but the latest earnings posted by some of the largest private sector banks reveal that the unsecured portion of such loans are growing at a blistering pace, raising the possibility of defaults.

HDFC Bank, India's most valuable lender, grew its personal loan book by 41 per cent at Rs 41,000 crore, and the bank's credit card business grew 26 per cent to Rs 21,000 crore.

NEW DELHI: Punjab National Bank (PNB) reported a 57.5 per cent YoY fall in net profit to Rs 306 crore for the quarter ended June 30 which was better than ET Now estimate of Rs 226 crore.

PNB reported a net profit of Rs 721 crore in the year-ago period and a loss of Rs 5,367 crore recorded in the previous quarter.

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