Three people were killed and 40 more wounded today in a car bomb attack in Turkey's eastern city of Van carried out by Kurdistan Workers Party (PKK) militants, a local official said.

The attack targeted a police headquarters in the central Ipekyolu district of Van city, Van deputy governor Mehmet Parlak was quoted as saying by the state-run Anadolu news agency, blaming the "regional terror group", the official phrase for the PKK.

Government has slapped an additional penalty of $380 million (around Rs 2,500 crore) on Reliance Industries and its partners for producing less than targeted natural gas from eastern offshore KG-D6 fields.

With this, the total penalty, which is in form of disallowing recovery of cost incurred, for missing the target in five financial years beginning April 1, 2010, now stands at a cumulative $2.76 billion.

Less than a year after the coal industry was declared to be in terminal decline, the fossil fuel has staged its steepest price rally in over half a decade, making it one of the hottest major commodities.

Cargo prices for Australian thermal coal from its Newcastle terminal, seen as the Asian benchmark, have soared over 35 percent since mid-June to more than one-year highs of almost $70 a tonne, pushed by surprise increases in Chinese imports.

Tata Motors shares were trading higher in the afternoon trade on Wednesday after the company informed bourses that rating agency Standard & Poor’s (S&P) upgraded the long-term corporate rating of Tata Motors to ‘BB+’ from ‘BB’ earlier with stable outlook. At 2.42 am, shares of the auto major were trading 0.42 per cent up at Rs 509.05. The scrip opened the day at Rs 511.90 and has touched a high and low of Rs 514.35 and Rs 506.40, respectively, in trade so far.

Ranchi, Aug. 16: Chief minister Raghubar Das today expressed his willingness to go to Barkagaon, Hazaribagh, in some 10 days or so to declare a new land compensation package after a meeting with over 200 villagers and key stakeholders to end the acquisition deadlock around the three upcoming National Thermal Power Corporation (NTPC) coal mining projects amid growing politicised protests.

Mumbai: In a bid to retain the cream of its corporate customers, India’s largest lender State Bank of India (SBI) is buying into their bond issuances. In the April-June quarter, SBI moved Rs.25,000 crore worth of exposure to high-rated corporates from its loan book to its investment book.

“A bond issuance is always a cheaper source of funding than a loan for a company. If our customers want to convert their loans to a bond exposure, then it makes sense to fund it since the customer will remain within our stable,” said a senior official at SBI, on the condition of anonymity as he is not permitted to be quoted in the press.

For the second time within a week, Pakistan on Tuesday offered India a bilateral arrangement for not conducting a nuclear test, saying it will send a positive signal to the NSG where both the countries have applied for membership. Pakistan’s offer to India for a bilateral arrangement on non-testing of nuclear weapons was initially announced by the Prime Minister’s Adviser on Foreign Affairs Sartaj Aziz on August 12.

The proposal has received in-principle approval of Prime Minister Narendra Modi, road transport and highways minister Nitin Gadkari said here on Tuesday.

“Since expenditure secretary, economic affairs secretary and road secretary are all there in the NHAI Board, what is the need of forming committees after committees for project approvals? There is no problem in giving powers to NHAI Board,” Gadkari said.

In a big blow to IT giant Infosys following the Brexit, Royal Bank of Scotland, one of its major clients, announced cancellation of the contract with the company as it plans to open a separate bank in the United Kingdom. The cancellation of the deal is likely to affect about 3,000 jobs at the company.

The contract was for a period of five years valued at Euro 300 million. While it said on Saturday, the company would ramp down about 3,000 employees, it clarified later on Tuesday that there would be no layoffs and the employees will be redeployed in other projects.

DETROIT (MICHIGAN): Ford Motor Co. intends to have a fully driverless vehicle on the road within five years. The car will initially be used for commercial ride-hailing or ride-sharing services, with sales to consumers coming later.

"This is a transformational moment in our industry and it is a transformational moment for our company," said CEO Mark Fields, as he announced the plan yesterday at Ford's Silicon Valley campus in Palo Alto, California.

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