Mumbai: Axis Bank has refused to comment on reports of resignation by two senior executives — deputy MD V Srinivasan and head of corporate and transaction banking Sidharth Rath — on grounds that they are speculative. The bank also did not comment on reports that it has hired S M Sundaresan, head of corporate banking at Standard Chartered, as head of corporate banking.

India’s second-largest IT services company Infosys on Thursday said it has made a follow-on investment of $1.5 million in Waterline Data Science. The company will make the investment through its corporate venture fund — Infosys Innovation Fund. The Fund, with a corporate fund of $500 million, was set up in 2015 during former CEO Vishal Sikka’s initiative to invest in technology companies.

Vodafone and Aditya Birla Group’s Idea Cellular, which are in the final stages of completing the merger of their operations in the country, on Thursday announced the new leadership team of the merged entity. As indicated earlier, Kumar Mangalam Birla, the chairman of the AV Birla Group, will be the non-executive chairman of the merged entity.

Saudi Arabia opened its airspace for the first time to a commercial flight to Israel with the inauguration on Thursday of an Air India route between New Delhi and Tel Aviv.

Air India 139 landed at Tel Aviv's Ben Gurion Airport after a flight of over 7-1/2 hours, marking a diplomatic shift for Riyadh that Israel says was fuelled by shared concern over Iranian influence in the region.

Benchmark indices on Friday witnessed a massive decline over global trade war fears.

The escalating tensions between Beijing and Washington sent shivers through financial markets, as investors foresaw dire consequences for the global economy if trade barriers start going up.

A day after its bid failed the legal eligibility test, ArcelorMittal, confirmed that it would participate in the rebid for Essar Steel.

“We have not yet received any formal notification from resolution professional. But we can confirm it is our intention to participate in a rebid," read a statement from ArcelorMittal. Sources close to Numetal said it had not heard officially from the resolution professional.

Mahindra and Mahindra and the India subsidiary of Ford Motor have signed five non-binding agreements, furthering the accord signed between them last September, Mahindra said.

The two automobile makers would be collaborating on multiple areas including connected vehicle projects, electric battery vehicles, development of compact sports utility vehicles (SUVs), B-segment SUVs and power trains.

LinkedIn, the popular social networking site for business people and professionals, released a report ranking 25 companies in India that are most preferred by professionals as their workplace. The list that is led by India’s Directi. Mukesh Ambani owned Reliance Industries, country’s largest and most valued firm, stands at 24th on this list. The other Indian companies are Flipkart, One97 Communications, Ola, OYO, and MakeMyTrip.

The CCTV cameras of the Apollo hospital's ICU ward in Chennai were switched off during the time late AIADMK chief J Jayalalithaa was admitted there, the group's chairman Dr Prathap C Reddy said today.

"Unfortunately they (CCTVs) were switched off. Jayalalithaa got admitted and one ICU was completely occupied only by her.

State Bank of India (SBI) hit a 52-week low of Rs 240.65, down 3% on the National Stock Exchange (NSE), falling below its previous low of Rs 241.15 touched on October 26, 2017 in intra-day trade.

In past three months, SBI has underperformed the market by falling 22% as compared to 7% decline in the Nifty 50 index. At 03:04 pm; the stock was trading 2.7% lower at Rs 241, against 0.32% decline in the benchmark index.

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