Britain said it would start preliminary talks with India on Friday about an eventual bilateral trade deal after last month's referendum vote to leave the European Union, which has forced London to rethink its trade ties with the rest of the world.

British Business Secretary Sajid Javid also said Britain would have as many as 300 trade specialists in place before the end of the year, up from about 100 now, as the country tries to increase its firepower to operate as a solo trading nation.

MUMBAI: The Reserve Bank of India (RBI) has moved a step closer to shifting monetary policy decisions from the governor to the Monetary Policy Committee (MPC). In their meeting in Bengaluru on Thursday, the board of directors of the central bank took up the issue of the constitution of the MPC, raising expectations that the forthcoming policy review in August might be decided by a panel instead of governor Raghuram Rajan.

Mumbai: The Indian rupee on Friday weakened against the US dollar, tracking losses in the Asian currencies markets as traders awaited US payroll data

The local currency opened at 67.47 a dollar. At 9.12am, the home currency was trading at 67.48, down 0.13% from its previous close of 67.40.

Mumbai: Petrochemical and gas marketing is the next big bet IndianOil Corp. Ltd (IOCL) is taking in a bid to expand its business beyond the core of refining and marketing.

“We are bullish on our new businesses, that is, petrochemicals and gas marketing. There is tremendous demand for petrochemicals, where we are now the second largest player in India,” said B. Ashok, Chairman, IOCL.

Volatility ruled early session as the Sensex fell almost 110 points today after yesterday’s modest recovery, dragged down by infrastructure, PSU and capital goods stocks.

All eyes are on the release of a key US jobs report later in the day, which made investors wait and watch.

NEW DELHI: India's largest real estate developer DLF has shortlisted six potential buyers for 40% stake of the promoters in its rental arm DLF Cyber City Developers Limited that is expected to sell for about Rs 13,000 crore, two people aware of the development said.

The company had invited expressions of interest and received 11offers over the past few weeks.

Mumbai: Indian Oil Corporation Ltd (IOC), Oil India Ltd and Bharat PetroResources Ltd (BPRL), a unit of Bharat Petroleum Corporation Ltd (BPCL), are together looking to raise $2 billion in debt to fund their purchase of stakes in two Russian fields, Vankorneft and Tass-Yuryakh, said four people aware of the development.

The Union Cabinet approved a scheme for BSNL employees which will ensure parity in pension between the serving and the retired staff.

“This decision will benefit over 1.18 lakh pensioners across India,” said Telecom and IT Minister Ravi Shankar Prasad on Tuesday following the Cabinet Meeting which approved pension revision for the public sector firm’s staff who retired prior to June 10, 2013.

Idea expects sufficient supply of spectrum to allow it to augment its holding when required. As regards the entry of RJio, Idea maintained that there is sufficient room for a fourth player, especially given the contraction in share of the peripheral operators.

Idea is expected to roll out a slew of digital content services to compete with the offerings of Bharti

SBI Capital Markets (SBI Caps) has sought proposals from chartered accountant firms to provide independent valuation and the swap ratio for the merger of State Bank of India (SBI)’s subsidiaries and Bharatiya Mahila Bank (BMB) with the parent bank.

According to a request for proposal, swap ratios have been sought for the listed subsidiaries – State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM) and State Bank of Travancore (SBT) along with BMB.

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