In one of the biggest cyber crimes in Mumbai, the Oil and Natural Gas Corporation Limited (ONGC) lost Rs 197 crore after cyber criminals duplicated the public sector firm’s official e-mail address with minor changes and used it to convince a Saudi Arabia-based client to transfer payments to their account.

The fraud was committed on the promise that the company making the payment would not notice a minor change in the e-mail address of the ONGC representative, with whom they had been communicating.

NEW DELHI: A serious miscommunication between IGI airport's air traffic control (ATC) tower and Air India pilots on Tuesday morning saw some tense moments and led to a close shave for two aircrafts. An incoming flight was asked to go around after the safety distance area of the runway it was to land on was breached by another plane waiting to take off.

Around 10.15am, an IndiGo Airbus A-320 was on its final approach to Delhi. At the same time, an Air India Boeing-777 was taxiing to the runway to operate a special Haj flight to Srinagar.

Seoul: Tech giant Samsung Electronics Co. unveiled the second smartphone powered by the its own Tizen operating system on Wednesday, its latest bid to increase the popularity of its own software ecosystem.

Samsung said the Z3 will go on sale in India on 21 October for Rs.8,490. While this is more expensive than the Rs.5,700 launch price for its predecessor, the Z1, the new phone offers better hardware including a faster processor, a higher quality screen and improved cameras.

State Bank of India (SBI) has received in-principle approval from the Reserve Bank of India (RBI) to form a subsidiary to manage the real estate assets of the country’s largest lender. In the long run, banks may monetise these assets.

Ashwini Mehra, its deputy managing director and corporate development officer, said the bank has about 44 million square feet of owned assets and 50 million square feet of rented properties. Properties owned by the bank, valued at over Rs 23,000 crore, would continue to be housed on SBI’s balance sheet.

Shares of information technology (IT) major TCS traded nearly 4% lower on the National Stock Exchange (NSE) at Rs 2496 levels at 9:45am, after the company reported a revenue of Rs 27,165 crore for the quarter ended September 2015 as against a consensus Bloomberg estimate of 27,229 crore. By comparison, the CNX Nifty was trading 0.1% lower at 8,122 levels.

In US dollar terms, TCS's clocked a revenue of $4,156 million, a growth of 3% on q-o-q basis, but was lower than the Street's estimate of around 4% growth. This marks the fifth quarter in a row where TCS has missed revenue growth expectations.

Recognising India's strategic and economic importance in the Asia-Pacific region, the US and Australia have welcomed growing engagement and increased cooperation with New Delhi on a range of security issues, particularly counter-terrorism, maritime security, countering transnational crime and cyber policy.

"Both sides recognised India's strategic and economic importance in the Asia-Pacific region, and welcomed growing engagement and increased cooperation with India on a range of security issues, particularly counter-terrorism, maritime security, countering transnational crime and cyber policy," the two countries said in a joint statement at the conclusion of Australia-United States Ministerial (AUSMIN) consultations in Boston.

The much-anticipated 2015 Bajaj Avenger range is set to make its debut by the end of this month, as the company has started dispatching the first lot of the range to its dealers. In an interview with media recently, Mr Rajeev Bajaj, Managing Director of Bajaj Auto, revealed that there will be three new models in the 2015 Bajaj Avenger Range. Though he didn’t disclose the lineup, spy shots doing round on internet suggest that there will be two trims – Street and Cruise – powered by the same 220 DTS-i engine that does duty on the outgoing model. And unlike rumours, there may not be any 200cc engined model on sale.

Shrugging off strong macroeconomic data, the benchmark BSE Sensex fell for the second straight session today and settled nearly 58 points down at 26.846.53 as IT stocks continued slide on caution ahead of TCS results.

A weak trend in global markets after a data showed slump in Chinese imports, fuelling worries about the health of Asia's largest economy also weighed on the sentiments.

Mumbai: The Indian rupee on Tuesday closed 0.63% lower, its biggest one-day fall since 24 August, against the US dollar, tracking losses in the local equity and Asian currencies markets.

The home currency closed at 65.19, down 0.63% from its previous close of 64.75. The local unit opened at 64.89 per US dollar.

Like many others, I am curious to know what does P.S. Jayakumar want to do on his first day in office. The former managing director and chief executive officer (CEO) of VBHC Value Homes Pvt. Ltd, Jayakumar took over as managing director (MD) and CEO of Bank of Baroda (BoB), India’s second-largest lender by assets, on Tuesday. Jayakumar, 53, is one of the two bosses of state-owned banks hired from the private sector, the other being Rakesh Sharma of Lakshmi Vilas Bank who took over as MD and CEO of Canara Bank in September.

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