In an unprecedented move, the Navi Mumbai airport developer GVK Group has asked two government bodies--Cidco and JNPT--to cough up a part of the cost incurred on foundation stone-laying ceremony attended by Prime Minister Narendra Modi.

The airport developer claims it has incurred around Rs 10.34 crore for the mega event at the Ulwe node of the satellite city, where Modi also formally inaugurated the fourth terminal of the country's largest container port, JNPT on Febaruary 18.

Hyundai Motor showcased the Next Generation Fuel Cell Electric Vehicle (FCEV) - Hyundai NEXO and Global Electric Vehicle - IONIQ (Battery Powered) during the India Korea Business Summit 2018 held here.

Present at the India Korea Business Summit, S H Kim, Vice President, Namyang R&D Centre, Hyundai Motor Company, said, "We are glad to participate in the 2nd India-Korea Business Summit 2018.

The Singapore Tourism Board (STB) announced its strategic partnership with Paytm, a homegrown mobile-first financial services platform, thus making STB the first National Tourism Organisation (NTO) to partner with the latter.

As a part of this partnership, Paytm would run joint promotions on its platform to promote Singapore tourism. This will bring Singapore's tourism offerings to Paytm's 300 million strong users.

The government is likely to include call and put options in the share purchase agreement of Air India to profitably sell its residual stake in the airline after strategic disinvestment.

A put option gives the existing shareholders the right to sell securities at a specified price, thereby providing an exit route from the company. A call option allows the buyer to acquire shares at a predetermined price, which is usually above the current price, within a limited time period, allowing it to increase its shareholding in the company.

The Securities and Exchange Board of India (Sebi) is likely to accept information technology major Infosys’ consent plea to settle charges of disclosure lapses pertaining to the severance package paid to former chief financial officer (CFO) Rajiv Bansal.

According to sources, the matter involves “minor disclosure lapses”, which, according to Sebi rules, could attract a penalty of a mere Rs 800,000.

Faced with pricing pressure, large Indian pharmaceutical companies are focusing on selective product launches in the US market. The move comes amid increasing competition in the generic drug space and customer consolidation, which are impacting the companies' profits.

“I do not think we are going to file more than 20 products in a year, but we will choose them well. Nowadays, in the US, you think you have a very good product but there are eight companies filing the product on day one and then there another five after that.

BENGALURU: Amazon India has set up 15 specialised fulfilment centres (FCs) to ramp up its daily essentials and consumables business for Amazon Now. The company, which has taken the hyperlocal delivery platform to the top four metro cities, will be utilising the new warehouses to meet demands for its two-hour express deliveries as well as scheduled ones on Amazon Now.

New Delhi: State-owned explorer ONGC Ltd is likely to miss its target date of gas production from its KG basin block because of changes in government policies and the introduction of the goods and services tax.

"The new policies concerning the oil and mining sector, as referred in the reply of ONGC to the NSE and the BSE, though not amply clarified in the reply, were pertaining to policies such as purchase preference policy, steel policy, GST policy and not regulatory policy," ONGC said in a statement.

New Delhi: A spate of heavy shelling and ceasefire violations by Pakistani forces, displacing more than 500 villagers on the Indian side of the border in Kashmir, have led to a dramatic escalation of tensions, according to police and intelligence officials.

According to the centre’s statistics, increased shelling by Pakistan since 14 February has left 19 people dead, of whom 10 are security personnel while nine are civilians. Another 80 people have been injured.

Mumbai: The Indian rupee on Tuesday opened higher but soon erased all of its gains and was trading marginally lower against US dollar.

The local currency opened at 64.73 a dollar. At 9.15am, the home currency was trading at 64.83, down 0.06% from its previous close of 64.80.

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