The BCCI is set to introduce a new Twenty20 event, to be branded as mini IPL, outside India in September.

“In the month of September, the BCCI is willing to host a mini IPL or IPL overseas with all the eight teams participating,” BCCI president Anurag Thakur said at the conclusion of the Board’s Working Committee meeting here.

Mumbai: After crashing over 1,090 points in early trade on free-fall in global equities following Britain’s decision to leave the European Union, the S&P BSE Sensex recovered slightly to close 2.24%, or 604.51 points, lower at 26,397.71, on value-buying in key bluechip stocks.

Besides, the Reserve Bank of India’s (RBI’s) intervention to infuse liquidity into the system, and dollar selling helped the rupee and Sensex to recover from their intraday lows.

Finance Minister Arun Jaitley on Friday sought to calm the markets which went into tailspin following UK's eminent exit from the European Union, saying that government and RBI are well prepared to deal with any short-term volatility in the forex markets.

The government he said is strongly committed to macroeconomic framework with rock solid commitment to fiscal discipline. He said the government will steadfastly pursue reforms in the medium term, including introduction of GST that will help the country realise its medium-term growth potential of 8-9%.

New Delhi, June 23: A consortium of state-owned oil companies led by ONGC Videsh is keen on a stake in Russia's biggest oil company Rosneft.

The consortium can face stiff competition from several global players who are vying for the 19.5 per cent stake on sale.

The European Central Bank said Friday it is ready to provide additional liquidity for financial markets if needed in the meltdown sparked by Britain's decision to quit European Union.

"Following the outcome of the UK referendum, the European Central Bank is closely monitoring financial markets and is in close contact with other central banks," it said in a statement.

IT industry body Nasscom on Friday said Britain's exit from the European Union or Brexit will lead to a phase of uncertainty in the near term but there will be a mix of challenges and opportunities in the longer term.

Nasscom said likely decline in the value of the British Pound, which could render many existing contracts losing propositions, unless they are renegotiated whereas the uncertainty surrounding protracted negotiations on the terms of exit or future engagement with EU could impact decision making for large projects.

Shares of Tata Motors, India’s biggest automobile manufacturer, crashed more than 11% in morning trade as news of UK’s exit from the European Union spooked markets.

Jaguar Land Rover, Britain’s biggest car maker, which generates more than 90% of profits for the Mumbai-based company, could risk a Pound 1 billion drop in profits by end of this decade, if the UK leaves the EU, as per an internal assessment prepared by JLR.

New Delhi, June 22: IT major Wipro's proposal to set up a special economic zone (SEZ) in Rajarhat, Bengal, was deferred by the Board of Approval (BoA) today as the Mamata Banerjee-government did not send its recommendations.

Commerce secretary Rita Teaotia, who heads the BoA, told The Telegraph that the proposal "has been deferred as we are still waiting for the state government's recommendations".

New Delhi: The State Bank of India (SBI) has defended financing a US cluster bomb manufacturer, saying its investments were legal, after being put in a “Hall of Shame” along with several other major banks by a Dutch campaign group.

A report by PAX last week listed the government-owned bank as one of 158 lenders—including JP Morgan Chase, Barclays, Bank of America and Credit Suisse—that violated an international ban for investing in cluster bomb firms.

The market regulator is reworking its plans for a capital-raising platform targeted exclusively at start-ups after the concept failed to take off a year after it was proposed.

Now, the Securities and Exchange Board of India (Sebi) is considering sweeping changes to the listing framework for technology-focused start-ups that will allow them to trade publicly on regular stock exchange platforms, said two people familiar with the matter.

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