Dallas: Lockheed Martin Corp. won a $247.5 million Nasa contract to build a quieter supersonic jet, a step toward developing planes that can whisk passengers around the globe much more quickly.

The experimental aircraft is expected to take to the skies in 2021 and will have a top velocity of 1.5 times the speed of sound, or about 990 miles per hour (1,600 kilometers) at an altitude of 55,000 feet, Lockheed said Tuesday.

Bajaj Auto Ltd may boast about being the world’s third-largest motorcycle manufacturer, but the fact remains that it has lost out to competition on domestic roads.

March sales numbers finally nailed it for fiscal year 2018 (FY18). The 5% growth year-on-year during the month closed FY18 with a 1% sales contraction in motorcycles on domestic roads. Fortunately robust exports gave a leg-up to total sales for the year, which were 5% higher year-on-year.

Bengaluru/Washington: India’s largest information technology (IT) outsourcing companies, including Tata Consultancy Services Ltd (TCS), Infosys Ltd and Wipro Ltd, have reduced their dependence on H-1B visas over the last three years, a US daily reported, reflecting these companies’ preparations to tackle the protectionist approach followed by the current US administration of President Donald Trump.

Mumbai: Billionaire Lakshmi Mittal’s ArcelorMittal will on Wednesday challenge in court the legitimacy of a bid for Essar Steel India Ltd. by a group led by Russia’s VTB Capital, intensifying the battle for the biggest industry asset yet to be sold under a new bankruptcy law.

The BSE Sensex rose nearly 100 points in opening trade today ahead of Reserve Bank of India’s monetary policy review that begins today.

The six-member Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, is scheduled for a two-day meet today and tomorrow.

Rupee edged 4 paise higher to 64.97 against the dollar in early tradeon increased selling of the greenback by exporters and banks ahead of Reserve Bank of India’s first bi-monthly monetary policy meet for FY19.

The six-member Monetary Policy Committee (MPC), headed by RBI Governor Urjit Patel, is to meet on April 4 and 5.

Companies owned by billionaires Mukesh Ambani and Sunil Bharti Mittal may raise as much as 365 billion rupees ($5.6 billion) selling bonds as the telecom titans build a war chest in what investors hope will be the home stretch in India’s bruising tariff war.

Mittal-controlled Bharti Airtel Ltd., which sold its first-ever rupee bond of 30 billion rupees last month, has approval to raise 165 billion rupees, according to a March 12 filing.

Construction of highways hit 27 km/day in 2017-18, clocking a 20% growth over the 22.5 km/day in the previous fiscal, though the improved rate is a far cry from the government’s target to build roads at a scorching pace of 41 km/day.

Highway construction has been a priority for the Modi government. When the new dispensation took over in May 2014, the construction rate was at 11.67 km per day.

Microsoft became the latest global technology major to jump on to the Unified Payments Interface (UPI) bandwagon as it enabled digital payments through its group communications app Kaizala.

Earlier, Google India’s Tez app and Facebook-owned WhatsApp had enabled UPI-based payments, and Amazon Pay, it is believed, may soon join in.

Punjab National Bank (PNB), the country’s second-largest public sector bank, has said it has not been collating data on recoveries made under its one-time settlement (OTS) scheme for small-ticket loans.

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