Business

Piyush Goyal, however, said the government was concerned about the spurt in fuel prices in the country and the inconvenience caused to the common man because of the price rise.

The ICICI Bank also denied that it has appointed any search committee to find Kochhar's successor.

The reasons were multiple, majorly being that the airline could not be pulled out of the debt gut despite its diversified air-coverage network and long-term loyal employee strength.

The allegation pertains to Air Asia officials and others allegedly trying to manipulate government policies through corrupt means to get international licence for its Indian venture Air Asia India Limited.

The decision, likely to be announced as early as today, comes after the administration's inability to win concessions from European countries, The Wall Street Journal said.

Refund claims to the tune of Rs 14,000 crore are pending with the government as on date, as against the figure of Rs 20,000 crore projected by FIEO in the press reports, the finance ministry said.

The deadline for submitting fresh binding bids has been set at June 14, a day after the Munjal-Burman combine had given their consent to re-open the bidding process.

The consolidated gross revenue in the quarter January to March 2018 totalled Rs 40,678 crore recording an increase of 10 per cent on a year-on-year basis, Larsen and Toubro said.

The Navaratna company was the third highest net foreign exchange earning central public sector enterprise (CPSE) in the country, while its net sales turnover for the year was Rs 9,377 crore, highest-ever since inception, registering a growth of 26 per cen...

In its second letter to Prabhu, the traders' lobby referred to Walmart as "the US version of The East India Company", and also asked for a thorough investigation of the Walmart-Flipkart deal.

"The government's position is very clear, it doesn't want the plant to run," said Sandeep Nanduri after a meeting with senior state government officials.

China pledged at the weekend to increase imports from its top trading partner to avert a trade war that could damage the global economy. Energy and commodities were high on Washington's list of products for sale.

Tata Steel Ltd (TSL), which won the bid for Bhushan Steel Ltd (BSL) under the insolvency process, completed the acquisition of controlling stake of 72.65 percent in the debt-laden firm last week.

"Rising fuel price is a crisis situation for government and it has to be handled with combination of steps. Finance ministry is consulting the petroleum ministry on rising crude prices," a senior official said.

The acquisition, which gives Sony a catalogue of more than 2 million songs from artists such as Kanye West, Sam Smith and Sia, is the biggest so far by new CEO Kenichiro Yoshida.

The decision comes at a time when authorities are clamping down on shell companies - listed as well as unlisted - for being allegedly used as conduits for illicit fund flows.