Mukesh Ambani-led Reliance Industries leads the pack of 56 Indian firms in Forbes’s annual list of the world’s 2,000 largest and most powerful public companies, with the US leading the list with 586 companies.

The 2016 Forbes ‘Global 2000’, a snapshot of the world’s largest companies, shows the dominance of US and China in the current global business landscape.

MUMBAI|NEW DELHI: Reliance Industries (RIL) and joint venture partner BP Plc are moving towards ending their dispute with the government on gas pricing, but are yet to officially approve the proposal for it, industry sources said. RIL and BP declined to comment on the matter.

RIL, BP and their partner Canada's Niko Resources are contemplating pulling out of the arbitration against the government as the government's policy changes announced in March requires them to drop the case if they want to accept the higher gas prices being offered.

NEW DELHI: With an aim to get a grip on the innovation ecosystem in Israel - a country which has one of the largest startups in the world - IT industry body Nasscom is planning to take a delegation of Indian companies and startups to the country.

Scheduled to take place in the last week of May, the delegation will include members from Tech Mahindra, MindTree, ITC Infotech and Cyient among others.

Coal India on Wednesday said auction of coal linkages would be conducted for the sponge iron sector initially and the bid schedule will be released on Thursday.

The Coal Ministry had earlier issued policy guidelines and directed CIL to conduct auction of coal linkages for the non-regulated sector such as cement, steel/sponge iron and aluminium with a view to ensuring fuel availability to end users.

State-run power generator NTPC Ltd has raised Rs 1,072 crore through 15-years bonds issue, which were oversubscribed by 1.74 times.

The 61st series bonds issued on Wednesday has a door-to-door maturity of 15 years. Bids amounting to Rs 1,305 crore were received against issue size of Rs 750 crore.61st series bonds issued on Wednesday has a door-to-door maturity of 15 years. Bids amounting to Rs 1,305 crore were received against issue size of Rs 750 crore.

First unveiled during the Consumer Electronics Show in Las Vegas earlier this year, South Korean company LG Electronics has now launched its ultra-light "Gram PC" in India.

The device is available on mobile payment and commerce platform Paytm and will soon be available at all LG brand stores and IT multi-brand outlets, the company said in a statement.

Mumbai: India’s benchmark equity indices closed at their highest in nearly a month with the Nifty breaching the psychologically important 7,900 mark, buoyed by firm world equities after robust US housing data indicated a strong recovery for the world’s largest economy.

BSE’s 30-share Sensex closed 2.28%, or 575.70 points, higher at 25,881.17 points, while National Stock Exchange’s 50-share Nifty closed 2.40%, or 186.05 points, higher at 7,934.90 points. It was the biggest gain in percentage terms for both these indices since 1 March, and the highest close since 27 April.

Ashok Leyland has posted a net profit of Rs 77 crore for the quarter ended March 31, 2016 as compared to Rs 229.9 crore for the quarter ended March 31, 2015. The 66.5 per cent drop was due to an exceptional loss of Rs 379.3 crore, as against Rs 8 crore a year ago, and higher tax cost despite lower finance cost.

The company said the Rs 379.3 crore was provisions for impairment in investments in certain joint ventures as well as overseas subsidiaries. This is in line with its strategy of reviewing its portfolio of investments and rationalising the same to drive focus on the core business.

Bajaj Auto has moved higher by 5% to Rs 2,505 on the BSE after the company reported 29% year on year (YoY) jump with net profit at Rs 803 crore for the quarter ended March 2016 (Q4FY16), on the back of strong operational performance. The two-wheeler maker posted a profit of Rs 622 crore in the same quarter year ago.

The company’s turnover grew 13% at Rs 5,536 crore on YoY basis.

State-run BHEL today said it has commissioned the first 800 mw supercritical thermal unit in Raichur, Karnataka.

The unit has been commissioned at the 2x800 MW Yeramarus Thermal Power Station (TPS) located in Raichur district of Karnataka, Bharat Heavy Electricals Limited (BHEL) said in a statement.

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