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US launches web-portal to track policies of Indian states

US launches web-portal to track policies of Indian states

A top US think-tank on Friday launched a knowledge web-portal which tracks the policy and regulatory environments of major Indian states.

An initiative of the Centre for Strategic and International Studies (CSIS), the online web portal the 'Engaging Indian States,' was launched by Griffin Thompson, Acting Deputy Assistant Secretary of State for Energy Transformation and Richard Rossow, senior adviser and Wadhwani Chair in the US-India Policy Studies.

Reliance Infra wins arbitration award against DMRC amounting to Rs 2,950 cr

Reliance Infra wins arbitration award against DMRC amounting to Rs 2,950 cr

Reliance Infrastructure (R-Infra) on Thursday won a Rs 2,950 crore arbitration award against Delhi Metro Rail Corporation (DMRC) for the alleged breach by the latter of the agreement on the Airport Express line.

Delhi Airport Metro Express (DAMEPL), a subsidiary of R-Infra, has been awarded a compensation of Rs 2,950 crore. If the interest of Rs 1,775 crore is included, the total goes up to Rs 4,725 crore, possibly the largest arbitration award, said a person close to the development.

TVS teams up with ex-Bajaj Auto dealer in Central America

TVS teams up with ex-Bajaj Auto dealer in Central America

TVS Motor Company has roped in former Bajaj Auto's dealer in Central America for expansion in the region. The company expects around Rs 500 crore from Central America over the next three years.

Sudarshan Venu, joint managing director, TVS, said the company has tied up with Masesa, a large group in Central America, for distribution of two-wheelers and three-wheelers in Guatemala, Honduras, El Salvador, Costa Rica, and Nicaragua.

Axis Bank scouts for life insurance tie-up

Axis Bank scouts for life insurance tie-up

Private sector lender Axis Bank is planning to expand its business of distributing life insurance policies through a tie-up with one more insurer.

In the case of life insurance, the bank currently has a partnership with Max Life and LIC. Now, the rule allows an open architecture with up to three insurers. The private bank will at some point look at adding a third partner as well, its managing director and chief executive officer Shikha Sharma said at CII’s banking technology summit.

Kotak bank to raise Rs 5,662 cr via QIP, promoter stake to fall

Kotak bank to raise Rs 5,662 cr via QIP, promoter stake to fall

Private lender Kotak Mahindra Bank is looking to raise about Rs 5,662 crore through sale of 62 million shares through qualified institutional placement (QIP).

This share sale is part of stake reduction exercise by its promoter Uday Kotak, the vice-chairman of the bank, as advised by the Reserve Bank of India (RBI).

Airtel offers free 4G data for 1 year if you buy Micromax Canvas 2

Airtel offers free 4G data for 1 year if you buy Micromax Canvas 2

Telecom major Bharti Airtel will offer free unlimited data service for one year to buyers of Micromax Canvas 2 smartphone that has been launched on Thursday.

"Micromax Canvas 2 will come with one year of unlimited Airtel to Airtel calling, unlimited data at no extra cost for both existing and new Airtel customers," Shubhajit Sen, Chief Marketing Officer, Micromax told reporters here.

Nissan forecasts unexpected 7.7% profit drop on higher raw material costs

Nissan forecasts unexpected 7.7% profit drop on higher raw material costs

Nissan Motor Co forecast on Thursday an unexpected 7.7% fall in operating profit this year as it sees higher raw material costs and a negative currency impact weighing on its bottom line.

Japan's second-largest automaker expects operating profit to come in at 685.0 billion yen ($6.00 billion) in the year to March, lower than an average estimate of 778.4 billion yen from 21 analysts polled by Thomson Reuters, and down from a 742.2 billion yen profit posted in the year just ended.

Microsoft aims to make artificial intelligence mainstream

Microsoft aims to make artificial intelligence mainstream

Microsoft today unveiled new tools intended to democratize artificial intelligence by enabling machine smarts to be built into software from smartphone games to factory floors.

The US technology titan opened its annual Build Conference by highlighting programs with artificial intelligence that could tap into services in the internet "cloud" and even take advantage of computing power in nearby machines.

Limaye's BCCI role to be over in August: NSE to Sebi

Limaye's BCCI role to be over in August: NSE to Sebi

New Delhi, May 11 () Seeking to fast-track Sebi's approval for appointing Vikram Limaye as its new CEO, leading exchange NSE has informed the regulator that his involvement with cricket body BCCI would be over by August, sources said.

In case Limaye is required to remain associated beyond August with the BCCI, as member of the Committee of Administrators (CoA) appointed by the Supreme Court, he would approach the apex court to recuse himself from that role, the exchange has informed the regulator.

HPCL seeks gasoil as refinery starts maintenance: Sources

HPCL seeks gasoil as refinery starts maintenance: Sources

SINGAPORE: India's Hindustan Petroleum Corp Ltd is seeking gasoil amid planned maintenance at its 180,000 barrels-per-day Bathinda refinery, three industry sources said on Thursday. The company is seeking 60,000 tonnes of gasoil with a sulphur content of 40 parts per million for delivery into Visakhapatnam over May 25 to 30, a tender document seen by Reuters showed. The tender closes on May 15.

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