NEW DELHI: Equity indices on Friday started off on a negative note as trade war woes reached new heights after US dragged India to World Trade Organisation (WTO) over six export subsidy schemes.

The BSE index opened absolutely flat but soon started to slip as bank and metal stocks cracked. The two sectors have been under pressure due to frauds and Trump administration's decision to impose substantial tariffs on steel and aluminium imports, respectively.

BENGALURU: Infosys will open its fourth tech and innovation hub in Hartford, Connecticut, and hire 1,000 American workers by 2022. It inaugurated its first tech hub in Indianapolis, Indiana, followed by Raleigh in North Carolina and a design and innovation hub in Providence in Rhode Island.

The Connecticut hub will have a special focus on insurance, healthcare and manufacturing. It will bring Infosys closer to its Connecticut clients and serve as the global hub to further strengthen its insurtech and health tech efforts.

NEW DELHI: Air India’s Twitter account @airindiain was hacked on Thursday with a Turkish group claiming responsibility for the act.

The account was restored by noon. “Your account has been hacked by the Turkish cyber army Ayyildiz Tim. Your DM correspondence and important data have been captured," read another tweet on the compromised account.

The benchmark BSE Sensex fell over 130 points in early trade on Friday amid weak Asian cues and selling on oil & gas, metals, power, PSU and IT counters.

Brokers said persistent selling by investors, capital outflows by foreign funds and a weak trend in Asian bourses due to increased concerns over the prospect of a global trade war dampened market sentiment.

HDFC Bank has priced its seven-year masala bonds at 8.1% to raise $350 million, investment bankers close to the deal told FE. A masala bond is a rupee-denominated bond issued in the overseas market. This is the first masala bond offering by HDFC Bank. The initial price target on the issue was at 8.15% which got compressed by five bps by the time of final pricing. “There were 40 plus investors in the issue consisting of asset managers, private banks, long-only funds etc.

The department of telecom (DoT) wants BSNL and MTNL to join hands on not just ramping up the latter’s 3G network in the National Capital Region (NCR) to ramp up service experience for customers, but also wants both the operators to pitch together for enterprise customers on a pan-India basis, utilising each other’s networks across the country. “Several areas of cooperation between the two have been identified under Synergy.

The Telecom Regulatory Authority of India (Trai) has asked Bharti Airtel to furnish details of all the segmented tariff plans that the operator has offered to its subscribers by March 25. In a letter to the country’s largest telecom operator on Thursday, Trai asked whether the operator has offered such segmented tariff plans to its customers and in which circles of the total 22 that Bharti operates in.

India’s largest hydrocarbon producer, Oil and Natural Gas Corporation (ONGC), has told the government it will not raise the dividend payout for 2017-18.

The reason is that it had to go for two major deals, both on government order. Of acquiring a majority stake in Hindustan Petroleum Corporation (HPCL) and Gujarat State Petroleum Corporation’s (GSPC’s) KG basin gas block.

Korean automobile major Hyundai is planning to invest around Rs 65 billion over the next three years in developing new products, including an electricsports utility vehicle (SUV). The company also plans expand its capacity by 50,000 units at its facility near Chennai through debottlenecking.

Hyundai Motor India Ltd (HMIL) Managing Director & Chief Executive Y K Koo said the proposed investment would be towards developing nine new products over the next three years. The company has so far invested Rs 210 billion in India.

All public sector banks have verified LoUs issued by them, and there are no other unauthorised authority letters except for those issued by Punjab National Bank, a senior SBI official said here today.

Billionaire jeweller designer Nirav Modi and his uncle Mehul Choksi in connivance with certain bank officials allegedly cheated the PNB of Rs 12,968 crore through fraudulent Letters of Undertaking (LoUs).

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