The government will divest 76 per cent stake in Air India, according to the information memorandum on the airline’s proposed stake sale released on Wednesday. The sale will include Air India's shareholding in low-cost Air India Express and its joint venture ground handling subsidiary AISATS.

Bidders must have a minimum net worth of Rs 50 billion and net profit for three preceding years. However, the rule has been relaxed for Indian carriers to enable them to participate in the bid process.

Tata Motors-owned Jaguar Land Rover (JLR) has struck a long-term strategic partnership with US-based Waymo to develop the world's first premium self-driving electric vehicle.

JLR and Waymo, formerly known as the Google self-driving car project, will work together to design and engineer self-driving Jaguar I-PACE vehicles.

ICICI Bank’s board on Wednesday came out in support of its Managing Director and Chief Executive Officer Chanda Kochhar and quashed the allegations of favouritism while describing certain reports against her regarding credit disbursement to the Videocon group as “malicious and unfounded rumours”.

The bank’s board also reviewed its internal processes and exposure to the Videocon group, the lender said in a statement to the bourses.

The Comptroller and Auditor General of India (CAG) has pulled up the MMRDA for non-recovery of Rs 7.7 billiion dues from Mukesh Ambani-owned Reliance Industries Limited (RIL), India's largest private sector company.

The CAG report, tabled in Maharashtra Legislature today, said Mumbai Metropolitan Region Development Authority is yet to recover Rs 8.55 billion froms RIL and Starlight Systems Private Limited, as lease premium dues on additional built up area allowed to the lessees in Mumbai's Bandra-Kurla Complex.

Sydney: Steve Smith and David Warner were slapped with a one-year international ban and ousted from this year’s IPL, while Cameron Bancroft was suspended for nine months as Cricket Australia cracked the whip on the errant trio for its role in the ball-tampering scandal in South Africa.

The lengthy bans on the trio effectively rule them out of the November-December series against India.

In its last board meeting for the FY-18, capital markets regulator SEBI (Securities and Exchange Board of India) accepted 40 out of 80 recommendations of Kotak Panel pertaining to a host of issues, including ways to strengthen algo trading, amendments to rules on angel funds, rationalization of expense ratio in mutual funds, buybacks, and takeovers. Notably, the regulator has accepted 40 out of 80 Kotak panel recommendations without any modifications, and 15 panel recommendations with some changes.

Global tech major Microsoft fears an increase in regulation for the sector following the privacy issues that have engulfed Facebook, but said that tools like blockchain can help take care of concerns. “All the signals say that there will probably be more regulation in the industry and our job is to comply with the regulations,” its executive vice president for business development Peggy Johnson told PTI here in an interview.

Israel s national airline El Al today filed an urgent petition to the High Court against Air India’s new route connecting New Delhi and Tel Aviv via Saudi airspace, days after the Indian carrier launched its maiden service to the Jewish state, Israeli media reports said. Speaking at a press conference in Tel Aviv, El Al’s CEO Gonen Usishkin and chairman Eli Defes said that by allowing Air India to fly over a country (Saudi Arabia) that does not grant El Al the same rights, the government is violating its commitments to Israel’s national carrier, the Times of Israel reported.

NEW DELHI: Reliance Industries (RIL) is selling some of the Eagle Ford shale gas project's ‘assets’ in the US for $100 million to Sundance Energy, marking the company's exit from the second shale gas venture as it sharpens focus on telecom.

The acreages and producing wells assets being hived off are located in Atascosa, La Salle, Live Oak and McMullen Counties of Texas and were not slated to be developed in the near term, the company said in a statement on Tuesday. RIL will retain its interest in the remaining core assets of the Eagle Ford project.

Snapping its two-session rising streak, the benchmark BSE Sensex fell over 150 points in early trade today as investors offloaded positions ahead of March F&O expiry and financial year ending.

A weak trend at other Asian bourses after a sharp fall on Wall Street, driven by technology stocks, also weighed on market sentiment here.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.