Inventory losses and lower refinery margins affected finances of state-run Hindustan Petroleum Corporation (HPCL), which on Tuesday announced a 87% year-on-year (y-o-y) fall in net profit to Rs 248 crore during the December 2018 quarter. The comparable figure a year ago was Rs 1,950 crore.

The oil marketing company had made an inventory gain of Rs 1,477 crore in the December 2017 quarter against a loss of Rs 3,465 crore in the December 2018 quarter.

During the hearing of Essar Steel’s insolvency case at the Ahmedabad bench of National Company Law Tribunal (NCLT), Standard Chartered Bank (SBC) counsel argued that SBC was discriminated against and not counted as a secure financial creditor and, as result of which, the bank was getting mere `60.71 crore against `3,487 crore, which is hardly 1.7 percent of total claim.

The counsel told NCLT on Tuesday that SBC too should be treated equally with other members of committee of creditors (CoC).

US President Donald Trump announced on Wednesday that he will hold the second summit with North Korean leader Kim Jong-un in Vietnam at the end of February.

The summit would be held on February 27 and 28. Kim and Trump met in Singapore last year, marking the first bilateral meeting between leaders of the two countries.

Central Bureau of Investigation (CBI) has registered a case of cheating against a Mumbai-based private company for allegedly duping Bank of Baroda (BoB) to the tune of Rs 274 crore.

According to the CBI officials, a written complaint was received last month from SK Sharma, deputy general manager from BoB, alleging that M/s PSL Ltd, its directors and other accused persons, during the period of 2011 to 2016 were party to a criminal conspiracy to cheat BoB.

Every time Bangkok fruit seller Veerachai Roopsuwanakul tries to buy an air purifier, he gets the same response: "Out of stock."

"We never imagined the air could get so bad," said Veerachai, who now wears a face mask to filter out dust. "We can’t find a purifier in shops or online."

The Digital Communications Commission on Tuesday directed the Department of Telecommunications (DoT) to seek views from the Telecom Regulatory Authority of India (Trai) on the allocation of 700 MHz premium spectrum worth Rs 65,000 crore to the Railways for signalling purposes without auction.

"Indian Railways has asked for 10 MHz of spectrum in 700 MHz band for setting up public safety and security service.

Former Pakistan leg-spinner Abdul Qadir has said that he sees lot of similarities between Indian skipper Virat Kohli and former Pakistan captain and the country's prime minister, Imran Khan.

"If I look at Virat Kohli as a batsman and captain... I can say he is similar to Imran in the manner that he, like Imran, sets an example by doing something himself and then expects his team to do the same," Qadir said on a TV show on Tuesday night.

Bengaluru: In a strong rebuttal, State Bank of India (SBI) has on Monday said there was no data breach or incident of it failing to safeguard the financial records of its customers.

Responding to media queries on recent reports of data leakage involving the bank, SBI chairman Rajnish Kumar said, “Customer data security is top most priority for us. None of our customers lost data, there was a gap in the process that caused the error, but no incident of customer data loss was reported.

For a capital-starved economy, India shows little urgency to extricate good money stuck in failed businesses.

That was going to change after the adoption of a modern bankruptcy regime in May 2016. Alas, legal improvements not-withstanding, the culture of extending the life of bad loans to big businesses and pretending nothing is wrong with them is proving too hard to end.

New Delhi: Wavemaker, the media, content, and technology agency from GroupM on Tuesday announced that it has been awarded the consolidated digital mandate of fast moving consumer goods giant ITC following a multi-agency pitch. Dentsu Aegis Network is the incumbent agency on the account.

Estimated to be in the range of ₹60 crore, the mandate includes search engine, social media, digital creatives and all other verticals.

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