India’s ONGC Videsh has turned its focus to buying stakes in overseas oil and gas assets to meet output targets after a delay by Iran in awarding development rights for a gas field, its managing director said on Thursday.

Indian firms led by ONGC Videsh, the foreign investment arm of Oil and Natural Gas Corp, have been negotiating with Iran for development rights of Farzad B gas field since its discovery in 2008.

India’s information technology (IT) industry could significantly fall short of its targeted generation of 130,000-150,000 new jobs this year as large companies such as Cognizant, Infosys, and Tech Mahindra (TechM) shed people to embrace automation and focus on productivity of the workforce.

The National Association of Software and Services Companies (Nasscom), the software industry lobby, had estimated that 130,000-150,000 jobs would be created even as it forecast a lower growth of 7-8 per cent this year.

Bajaj Auto on Thursday introduced a new variant of its performance motorcycle model Pulsar NS200 equipped with enhanced safety feature ABS, priced at Rs 1.09 lakh (ex-showroom Delhi).

The Pulsar NS200 is powered by a 200-cc liquid cooled engine.

Ford Motor India on Thursday said it has tied up with e-commerce major Amazon to sell an upcoming updated version of its compact SUV EcoSport.

Under the partnership, the first 123 customers would be able to book the compact SUV online for 24 hours starting November 5.

BENGALURU: ITC Foods, the branded packaged food division of diversified conglomerate ITC, expects its instant noodles brand Yippee to join the Rs 1,000-crore revenue club by 2020 and emerge as the fourth power brand, turbo-charging the unit's ambitious growth plans.Yippee, which was launched in 2010 and includes both noodles and pastas, already has a share of 22.5% in a market that is roughly valued at about Rs 4,000 crore.

India’s largest state-owned lender State Bank of India (SBI) said it has reduced interest rates for retail loans in order to boost lending.‍​

The bank has cut the interest rate on home loans by 5 basis points (bps) to 8.30% per annum—the lowest rate for home loans in the market. The new rate is effective 1 November.

Prime Minister Narendra Modi and US President Donald Trump have resolved to fight against the global scourge of terrorism together, the White House said after Mr. Modi offered his condolences to Mr. Trump over phone following the New York terror attack.

Mr. Trump spoke with Mr. Modi and accepted his condolences following Tuesday’s terrorist attack in New York City that left eight people dead and about a dozen others injured, the White House said.

The principal bench of the National Company Law Tribunal (NCLT) in New Delhi has dismissed Axis Bank’s plea to stake a claim of Rs 397 crore in the ongoing corporate insolvency proceedings against Edu Smart Services. According to the order, Edu Smart was a corporate guarantor for its parent company Educomp Solutions, which had availed a loan from Axis Bank. The order was in response to a plea filed by Axis Bank after Edu Smart’s resolution professional (RP) rejected the bank’s claim filed under the Insolvency and Bankruptcy Code (IBC). The resolution professional informed the tribunal that Axis Bank had already claimed the amount of debt from the principal borrower — Educomp — but failed to disclose this in its application.

October is usually a great month for manufacturers, the start of the festive and of course festive discounts make it even more appealing to the customer. This year the auto-industry has proudly carried forward the tradition, turning the GSTs many overtures to their advantage with most companies posting positive year-on-year growth trends! Of Course, Maruti leads the way with over 1.3 lakh sales cumulatively. More on that here.

The rest of the industry meanwhile were not to be left behind, Hyundai Motor India Ltd. (HMIL) posted domestic sales of 49,588 units for the month of October 2017. A large chunk of which came from the newly launched Hyundai Verna which is a real game-changer in terms of executive sedans.

MUMBAI: Anil Ambanii-led Reliance Communications (RCom) is likely to function as a mobile virtual network operator (MVNO) that will offer 4G services once it sheds its 2G and 3G voice business. This was confirmed by Punit Garg, the telco’s executive director, during a recent media gathering.

Rating agency Fitch expects RCom to gradually exit from the wireless voice business and significantly scale down its operations due to intense competition. It said in the report that the Anil Ambani-owned operator will ‘focus on offering 4G services as a mobile virtual network operator (MVNO) after selling its spectrum assets’. Shares of RCom closed at Rs 17, down 0.87%, on the BSE on Wednesday.

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