The arrests of two senior Northern Railway officials by the Central Bureau of Investigation (CBI) based on the complaints by Indian Railway Catering and Tourism Corporation (IRCTC) for conniving with private catering firms to elbow out the latter's bottled water business just shows how IRCTC now means business with its brand — Rail Neer. In a country where summers are getting hotter and several water dispensers at stations too dirty and unhygienic, the railways own estimate of packaged water bottles on the railway network is around 25 lakh per day. Of this, IRCTC with its four bottling plants has a capacity of 6.

Beverage giant Pepsi has been replaced by Chinese mobile handset maker Vivo as title sponsor for the Indian Premier League (IPL), the annual 20-over cricket tournament, for the 2016 and 2017 seasons.

The sponsorship amount will be Rs 100 crore a year. Pepsi was paying Rs 80 crore a year.

Markets are trading higher in the opening traders tracking positive Asian cues along with strong buying among index heavyweight Reliance Inds post better than expected Q2 results.

Further, China posted its weakest quarterly economic growth since the global financial crisis on Monday, raising pressure on policymakers to cut interest rates further and roll out other support measures to avert a sharper slowdown.

State oil giant Saudi Aramco said on Sunday that an attempted fraud that targeted its trading unit Aramco Trading and India's Oil and Natural Gas Corp (ONGC) had been foiled.

In a brief statement in Arabic, Aramco said: "The attempted fraud has been foiled and did not have any financial impact on either the two companies or on trading relations between them."

In the last few years, litigation between India's largest company, Reliance Industries, and the Indian government and public sector companies has increased, putting at risk investments worth billions of dollars on all sides.

RIL - which seldom took on the government in the past - is doing just that over gas pricing. The government has accused RIL of gold plating its expenditure over Krishna Godavari gas extraction, thereby reducing the government's share of profits.

Mumbai: Amazon.com Inc could emerge as the biggest winner from one of India’s most important festive — and shopping — seasons, after the e-tailer offered steep discounts, swift delivery and even gold bars to grab market share.

The month-long festive season, which began on Monday, culminates in Diwali, or the Festival of Lights, but the first nine days are considered an especially auspicious time to make big purchases.

The Association of Mutual Funds in India (Amfi), in a board meeting on Friday, decided on a response on behalf of all members to State Bank of India (SBI’s) letter to some fund houses for a compensation policy in case of a default.

Sources said the response will be made by Amfi's committee on valuation, headed by DSP BlackRock MF's president, Sundaresan Naganath.

The country's telecom regulator on Friday asked companies to pay a compensation of Rs 1 for up to three call drops per user per day. The move has disappointed the telecom industry and operators are believed to be exploring a legal action.

Cellular Operators Association of India (COAI) Director General Rajan S Mathews said the regulation could force telcos to shell out as much as Rs 150 crore every day, even if half of the mobile subscribers face call drops and that needs to be compensated.

New Delhi: Prime Minister Narendra Modi will make a series of “very important” announcements to promote startups in the country in December, minister of state for finance Jayant Sinha said on Saturday in New Delhi.

In his Independence Day speech, Modi had announced a new campaign ‘Startup India; Stand up India’ to promote bank financing for startups and offer incentives to boost entrepreneurship and job creation in the country. “... in early to mid-December the prime minister is going to make a series of very important announcements on Startup India where we will bring together the work that we are doing and make some important announcements about how we are going to take forward India’s entrepreneurial ecosystem,” Sinha said.

Mumbai: Fag-end buying saved the day for domestic market as the BSE Sensex reversed all of its early losses and settle 204.46 points higher at 27,214.60, tracking firm global cues, while Nifty reclaimed the 8,200-level.

In early trade, the 30-share Sensex cracked below the 27,000-mark by dropping 93 points to hit a low of 26,917.12 as investors booked profits in recent gainers after the country’s exports in September dropped for the tenth straight month.

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