Free Press Journal
  • Finance Ministry pegs dollar value at Rs 73.65 for computing import duty

    New Delhi: The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 73.65 for calculation of import duty with effect from September 21, as against Rs 72.55 a fortnight ago.  Similarly, in case of Pound Sterling, the value has been fixed at Rs 97.40 as compared to Rs 94.30 earlier.

  • Government hikes interest rate on small savings by up to 0.4 per cent

    New Delhi: The government has raised interest rates on small savings schemes, including NSC and PPF, by up to 0.4 per cent for the October-December quarter, in line with rising deposit rates in the banks. Interest rates for small savings schemes are notified on a quarterly basis.

  • Hotel Leela defaults on payment of quarterly interest to LIC   

    New Delhi: Cash-strapped hospitality chain Hotel Leelaventure has defaulted in payment of quarterly interest of Rs 2.12 crore to Life Insurance Corporation of India (LIC). Hotel Leelaventure, which currently has a debt of over Rs 3,600 crore, had issued secured redeemable non-convertible debentures (NCDs) on private placement basis aggregating to Rs 90 crore to LIC in December 2008.

  • petrol price hike, petrol price, K R Sudhaman, GDP, economy

    Fuel Price Hike: Petrol price hiked by 6 paise per litre, diesel price remains unchanged

    Domestic fuel prices continued to scale new heights, while rates were not changed on Wednesday, a 6 paise per litre hike in petrol price was seen on Thursday, according to ANI. While on the other hand, the diesel price remained unchanged.  Now petrol in Mumbai costs Rs 89.60 per litre and diesel Rs 78.42 in Mumbai.

  • Samara-Amazon group adds More to cart for Rs 4.2K cr 

    New Delhi : Private equity fund Samara Capital and online retail behemoth Amazon on Wednesday signed a deal to acquire Aditya Birla Group’s food and grocery retail chain More for an enterprise value of Rs 4,200 crore.

  • 10 state banks get new MDs, CEOs

    New Delhi : Mrutyunjay Mahapatra and Padmaja Chundru, both deputy managing directors in State Bank of India (SBI), have been appointed as managing director and chief executive officer of Syndicate Bank and Indian Bank respectively, according to an official order issued on Wednesday.

  • I-T sleuths vet Jet Airways books

    New Delhi : The Income Tax Department on Wednesday began inspection of the books of crisis-hit Jet Airways for alleged falsification of accounts and suspicious transactions, sources said. The full service carrier, which is grappling with financial woes, is already under the scanner of markets regulator Sebi and the Corporate Affairs Ministry for various alleged lapses.

  • RBI trims Rana Kapoor’s term as Yes Bank CEO

    Mumbai : The Reserve Bank of India (RBI) has curtailed the term of Yes Bank’s founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019.

  • OYO enters UK market, to invest Rs 383 cr

    New Delhi: Hospitality firm OYO on Wednesday said it has forayed into the United Kingdom and intends to invest GBP 40 million (approximately Rs 382.93 crore) for its expansion in the country. This is the company’s first market beyond Asia, OYO said. The company plans to invest GBP 40 million into the UK market and looks to launch in 10 cities in UK including Manchester, Birmingham, Glasgow and Edinburgh by 2020, it

  • Life Healthcare Group to exit Max Healthcare for Rs 2,120 cr

    Mumbai : South Africa-based Life Healthcare Group Holdings has decided to sell its entire 49.70 per cent stake in Max Healthcare to Kohlberg Kravis Roberts & Co, for about Rs 2,120 crore, Max India said on Wednesday.

  • IL&FS crisis: Road leading to dead end?

    The current financial crisis at IL&FS is threatening to assume dimensions that could impact the whole domestic financial system. However, it may be worthwhile to think of this as not the malaise, but only a symptom. The malaise is more deep-rooted and goes back a long way.