Mumbai: Reliance Industries (RIL) is likely to invest Rs60,000 crore into its telecom unit this fiscal year as the company seeks to speed up the roll out of broadband services and expand its wireless network, two people aware of the matter said.

In addition to this, unit Reliance Jio Infocomm Ltd may also borrow as much as Rs1 trillion, the people said, requesting anonymity.

German Automaker, Daimler AG has signed a memorandum of understanding (MoU) with The National Logistics Cell (NLC), Pakistan to set up a manufacturing unit of Mercedes‐Benz trucks in Pakistan. In a statement released by NLC, the company confirms that Daimler AG will locally assemble Mercedes-Benz Trucks in Pakistan and marks a major shift in the logistics and transportation industry’s preference towards European manufacturers.

Q4 showed increasing share of high yielding non-individual portfolio that aided in NIM expansion (up 16 bps q-o-q at 2.5%). Headline asset quality also improved (GNPA ratio down 9 bps q-o-q at 0.78% and NNPA ratio at 0.43%). Consequently, LICHF reported PAT of Rs 5.4 bn (up 1.9% y-o-y), in line with our estimate. Loan growth remained stable at 15.1% y-o-y supported by 14.5% y-o-y growth in disbursements.

Lenders led by State Bank of India have filed insolvency petitions at the National Company Law Tribunal (NCLT) against more than a dozen Videocon group companies that cumulatively owe about Rs 13,000 crore, a move that’s aimed at seeking a comprehensive resolution plan.

The debts have been grouped into four clusters to help streamline the process, three people with the direct knowledge of the matter told ET.

The Sensex gained over a 100 points in early morning trade on Monday and reclaimed the 35,000 mark. The Nifty, meanwhile, is trading at 10,650.

The market breadth remained positive at the beginning of the week with 368 shares advancing, against a decline of 113 shares.48 shares remained unchanged.

An air hostess of Air India has alleged that she was molested by the pilot of the Ahmedabad-Mumbai flight.

The pilot allegedly molested the air hostess on May 4.

Oil’s advance to the highest since 2014 is squeezing the carry-trade returns on the Indian rupee to a point where they are the worst in Asia.

While the nation’s nominal yields are the second-highest in Asia, rupee weakness is making the trade unprofitable. Borrowing in dollars to invest in India would yield a negative 3 per cent for the year so far, according to data compiled by Bloomberg. That trade garnered a carry return of 12 per cent in 2017.

The first good thing about that the entire development is that it brings the equity derivative market in line with the commodity derivative market. Both markets will now have similar trading hours, which will reduce systemic risk in the markets.

The second aspect, the extension of trading hours will result in providing a hedging facility to portfolio investors. Today, this facility is denied particularly at a time when global news drives markets.

Berkshire Hathaway bought 75 million additional Apple shares in the first three months of the year, Chief Executive Officer Warren Buffett told CNBC on Thursday, aggressively ramping up its bets on the iPhone maker.

Buffett's Apple commitment over the past two years has surprised many, given his historical aversion to companies associated with the technology sector.

NASA on May 5 blasted off its latest Mars lander, InSight, designed to perch on the surface and listen for “Marsquakes” ahead of eventual human missions to explore the Red Planet.

“Three, two, one, liftoff!” said a NASA commentator as the spacecraft launched on a dark, foggy morning atop an Atlas V rocket at 4.05 a.m. Pacific time (4.35 p.m. IST) from Vandenberg Air Force Base in California, marking NASA’s first interplanetary launch from the U.S. west coast.

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