New Delhi: Prime Minister Narendra Modi will meet the heads of state and government of 20 African nations on Wednesday, a day ahead of the 3rd India-Africa Summit in New Delhi.

Modi’s first bilateral meet during the summit will be with Zimbabwe president Robert Mugabe, who is visiting India after a gap of more than two decades, according to the ministry of external affairs website.

Recalling the first time he opened Facebook on a 2G connection, Engineering director Tom Alison said, “I felt like, ‘Whoa! It definitely tested my patience – it felt like parts of the product were just broken.” He also added, this initiative will help engineers “see the places that they need to improve our product, but they’re also going to see the places where they have made a lot of progress.”

He maintained that although most people with smartphones in the US use faster 3G or even 4G connections, millions of people all over the world are coming online for the first time with 2G. With that kind of connection, a webpage can take over 2 minutes to load.

Reliance Industries has regained the top slot among Indian energy companies on the Platts global list by surpassing state-owned Oil and Natural Gas Corp (ONGC) in the rankings for this year.

In all, 14 Indian energy companies made it to the 2015 Platts Top 250 Global Energy Company Rankings, a financial performance roster of publicly traded companies with assets greater than USD 5 billion.

The BSE Sensex and Nifty extended losses for a third consecutive session as investors remained cautious ahead of the conclusion of the US Federal Reserve’s meeting later in the day and the expiry of monthly derivatives contracts back home on Thursday. Sensex closed 213.68 points down at 27,039.76. Nifty closed 61.70 points down at 8,171.

In the 50-share index, Cipla, Kotak Mahindra Bank, Tech Mahindra, Ambuja Cements and ONGC gained between 1.40 per cent and 2.55 per cent. On the other hand, Axis Bank, ICICI Bank, Adani Ports, IndusInd Bank and YES Bank slid between 3 per cent and 7.20 per cent.

Having slapped orders against Sumangal Industries for running illicit money-pooling schemes, markets regulator Sebi today cautioned general public against any collective investment schemes run by the company and entities associated with it.

In a 'caution notice' issued today, Sebi said that it had passed an order in July 2013 against Sumangal Industries, wherein, the firm, its promoters/directors were directed to wind up the existing Collective Investment Schemes (CIS) and refund the money to investors within three months.

Axis Bank results have spooked the markets, not because of its numbers which were in line with analyst expectation but more on account of a sharp increase in impairments.

What has perturbed some analysts is that details of impairments were not provided in the profit and loss (P&L) account posted on the stock exchanges. Instead, a link in the auditor note was given to the bank's website where the details were mentioned.

Oil and Natural Gas Corporation (ONGC) is expected to increase its upstream capital expenditure by 10% next year and intensify its exploration activities, taking advantage of the current depressed global energy market.

"We want to intensify our exploration activities," said Sahshi Shanker, director of technology and field services at ONGC.

Bangalore-based IT services provider Wipro today said that it has won a five-year IT contract from Coop Norge Handel AS (Coop Norge).

Coop Norge is a leading retailer in Norway, with a market share of 33% and over 1,500 stores.

Private sector lender Yes Bank today said it has started operations from its IFSC banking unit at the Gujarat International Finance Tec City (GIFT).

The bank in a regulatory filing said that "...Pursuant to the approval received from the Reserve Bank it has operationalised its IFSC Banking Unit in the GIFT City."

Mumbai: Axis Bank Ltd, India’s third largest private sector bank by assets, on Tuesday said its net profit for the September quarter rose 19% from a year ago due to higher net interest income and lower provisions.

Net profit for the quarter was at Rs.1,915.64 crore as compared to Rs.1,610.71 crore a year ago. A Bloomberg poll of 31 analysts had forecast a net profit of Rs.1,944.10 crore for the quarter.

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