Mumbai: Reliance Industries Ltd (RIL) has committed Rs 1.3 trillion worth of investments across five states in its non-energy businesses over the past two months. Though analysts worry that these investments may dilute its return on capital employed, RIL executives say it underlines the seriousness with which the company is pursuing opportunities in telecom and retail.

Auto major Tata Motors on Tuesday unveiled an electric concept with long range and class defining interiors as part of its plans to consolidate its green mobility portfolio.

Built on a modified OMEGA (Optimal Modular Efficient Global Advanced) EV architecture, the ‘E-Vision Sedan Concept’ is capable of attaining a top speed of 200 km/hr.

Israeli Prime Minister Benjamin Netanyahu said that Saudi Arabia had granted Air India permission to fly over its territory on its new routes to and from Tel Aviv.

There was no immediate confirmation from either Saudi officials or Air India. Mr. Netanyahu made the announcement during a briefing in Washington to Israeli reporters after he had met U.S. President Donald Trump.

Bitcoin, the popular cryptocurrency and global payment system, was trading today at $11.285.20 down by 1.29 percent on CoinDesk at the time of writing the report. The highest that Bitcoin price touched today is $11,658.87. This comes at a time when just days back the Bank of England had issued a warning about an imminent regulatory crackdown on the digital currency. Just a couple of days back, Bitcoin had crossed a psychologically important $11,500-mark.

Tech giant Microsoft today said it has inked its first renewable energy deal in India for powering its new facility in Bengaluru. The agreement will see Microsoft purchase 3 megawatts of solar-powered electricity from Atria Power for its new office building in Bengaluru, meeting 80 per cent of the projected electricity needs at the facility, Microsoft said in a statement. The company, however, did not disclose the financial details of the deal.

The Indian rupee gained nearly 20 paise against the US dollar on Tuesday as the domestic equities rebounded sharply with Sensex advancing over 300 points today. The rupee surged as much as 19 paise to a day’s high of 64.93 against the US dollar at the interbank foreign exchange market on Tuesday.

After Russian bank VTB termed ArcelorMittal’s bid for Essar SteelBSE 0.41 % ineligible, the company hit back on Monday, saying that its offer is eligible. “We are confident about the integrity of the process, which will be adjudicated by the resolution professional. We continue to believe our bid is eligible and that, as the world’s leading steel company in partnership with Nippon Steel and Sumitomo Metal, we have unrivalled industry expertise and a demonstrable track record that is very relevant for Essar Steel,” Arcelor-Mittal said in a statement.

MUMBAI: The mumbai wing of the Serious Fraud Investigation Office has summoned ICICI Bank CEO Chanda Kochhar and Axis Bank CEO Shikha Sharma in the Rs 5,000 crore loan extended to Mehul Choksi’s Gitanjali Gems. The summons sent to both Kochhar and Sharma requests them to appear in person or send a representative.

BENGALURU: IT customers globally are looking for a broader range of digital technologies and budgets are less of a constraint for sectors like manufacturing, a report by Infosys said.

Banking, the IT sector’s largest customer, is still focused on investing in known priorities such as customer experience and preventing fraud rather than in emerging technologies that could have the most impact over the next three years.

MUMBAI: Mercedes-Benz, the top luxury-car brand in India, expects to sustain double-digit growth in 2018, provided there aren’t any more policy disruptions during the year to add to the budget proposal to increase the duty on imported kits and components.

To build on the momentum from 2017, when its India sales rose 16% to 15,330 units, Mercedes-Benz will be launching 10 products this year.

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