India News

Mark Zuckerberg gives away $95 mn Facebook shares in charity

In the first gesture to fulfil his pledge that he and his wife made last year, Facebook CEO Mark Zuckerberg has sold $95 million of the social networking giant’s shares.

According to a US regulatory filing, The Chan Zuckerberg Foundation and CZI Holdings LLC sold Facebook shares worth $95 million before taxes, Forbes reported on Saturday.

Coal India workers call for nation-wide strike on 2 September

New Delhi: Coal India workers will go on a nation-wide strike on 2 September to mark their protest against further divestment and strategic sale in the sector.

“We have received a communication of notice... for strike on September 2. Efforts are being made for conciliation process,” Coal India said in a regulatory filing on Saturday. “In case they resort to strike, it will affect product and dispatch of coal.”

Patent office rejects application of ITC for smokeless agarbatti

A patent application of multi-business conglomerate ITC Ltd, which sells agarbatti brand Mangaldeep, for a smokeless incense product at a cost-effective manner was rejected by the Indian Patent Office for lack of inventive steps, among other objections.

The company said its invention was to prepare an incense stick with no smoke but fragrance, and it would be an eco-friendly product with higher productivity and cost advantage in several ways.

Air India's gift to Sakshi Malik will surely bring a smile to your face

Sakshi Malik has become the country's new hero. After the Haryana wrestler clinched bronze in the Repechage round, no opportunity is being spared to give the country's first medalist at Rio Olympics a champion's welcome.

Apart from being promised cash prizes from the Haryana government and Railways ministry, the Indian National carrier, Air India, on Friday offered two complimentary business class tickets to Sakshi and her companion.

Rupee closes at over 3-week low of 67.06 against US dollar

Mumbai: The Indian rupee on Friday weakened past the 67 mark to over three-week low against the US dollar as traders expect the Reserve Bank of India (RBI) may delay cutting interest rates after recent data showed an increase in inflation. Traders also remained cautious ahead of the announcement of a new governor for RBI expected anytime now.

Sensex falls 46 points, Nifty above 8,660; mid-cap stocks up as merger plan lifts SBI

Mumbai: Indian gauges of mid- and small-cap shares extended gains to records as a merger plan spurred a rally in banks.

State Bank of India (SBI) rose the most on the benchmark S&P BSE Sensex after the lender approved a merger plan with three of its units and Bharatiya Mahila Bank Ltd amid a government push to strengthen the nation’s fragmented banking industry.

SBI says will gain $120 billion in assets from takeover of units

New Delhi: State Bank of India (SBI), the nation’s biggest lender by assets, will gain $120 billion in assets following its merger with associate banks and Bharatiya Mahila Bank, the lender said on Saturday.

In a first move to consolidate India’s struggling public sector banks, SBI’s board on Thursday approved share swap ratio for the proposed takeover of five units that had been run at arms-length, as well as state-run Bharatiya Mahila Bank, a bank for women set up in 2013.