China’s economic headaches will impact Alibaba’s sales as consumers shy away from spending, but the e-commerce giant hopes that Singles’ Day in November will help get things back on track.

In a discussion with Citigroup analyst Thomas Chong during a tech conference held by the research firm on Tuesday, Alibaba head of investor relations Jane Penner said the company continues to see high user engagement on its platforms, including mobile apps, but lower average order volumes.

Mumbai: Nestle India Ltd will bring Maggi back to the market by relaunching what it terms the “big hitters” first—these are six of the nine variants of the instant noodles brand.

Following the Bombay high court ruling of 13 August that set aside the 5 June ban imposed by the Food Safety and Standards Authority of India (FSSAI) as being arbitrary and “a violation of natural justice”, Nestle is now hopeful that the brand will be back on shelves by end of the year.

India’s capital market regulator is unlikely to intervene in the ongoing standoff between Castex Technologies Ltd and the holders of its foreign currency convertible bonds (FCCBs).

The bondholders have urged the Securities and Exchange Board of India (Sebi) to block the impending conversion of two sets of FCCBs worth $200 million into equity on Thursday and on 25 September.

New Delhi: HDFC Bank Ltd, India’s second-largest private sector lender by assets, retained its top position in a list of India’s 50 most valuable brands released on Wednesday. The bank has a brand value of $12.6 billion, according to the second edition of the BrandZ rankings.

Axis Bank Ltd, Canara Bank Ltd, tyre maker MRF Ltd and bike maker Royal Enfield are the four brands that figure for the first time in the rankings, compiled by research agency Millward Brown and commissioned by WPP Plc., the world’s largest communications services group.

Mumbai: The morning after an Air India plane flying in from Varanasi made an emergency landing at Delhi’s airport due to a hydraulic leak, the aircraft had a surprise visitor: Ashwani Lohani, who joined as the state-run airline’s new chairman and managing director just a week ago.

Ever since he took charge of the country’s ailing flag carrier, the 1980 batch Indian Railways Service officer has been on his feet, meeting everyone from baggage loaders to board directors as he tries to feel the pulse of the airline, multiple Air India executives who regularly interact with him said.

Mumbai: The Bombay high court on Wednesday ruled against the National Stock Exchange (NSE) in a defamation case that the bourse had filed against financial news website Moneylife.

The court dismissed the case and asked the NSE to pay Rs.1.5 lakh each to journalists Debashis Basu and Sucheta Dalal. Besides this, the court imposed a penalty of Rs.47 lakh on NSE to be paid in the form of a donation to Masina Hospital and Tata Memorial Hospital in Mumbai.

New Delhi: Large gold holders, wary of tax department’s scrutiny, may stay away from the gold monetization scheme.

However, small gold depositors at whom the scheme is primarily aimed should have no problems, said industry officials and analysts.

MUMBAI: Larsen & Toubro chairman AM Naik has criticised domestic banks saying they have denied relief to the private sector by not cutting lending rates in line with the reduction in benchmark rates announced by the RBI.

Since January, the RBI has effected 75 basis point reduction in the benchmark repo rate, which is an indicative rate for banks. But most lenders have cut their respective lending rates only by 20-30 bps during the period. Naik said industry needs a cut of at least 1% to get some relief.

Infrastructure company IL&FS Transportation Networks today said its subsidiaries have signed two agreements with NHAI worth Rs 4,173.92 crore for four-laning two sections of NH-6 in Maharashtra.

“The concession agreement for development of 4-laning of Fagne-Gujarat/Maharashtra Border (Package-III) section of NH-6 in the State of Maharashtra from 510 km to 650.79 km has been signed by Fagne Songadh Expressway Ltd, a wholly-owned subsidiary of the company with National Highways Authority of India (NHAI),” IL&FS Transportation said in a BSE filing.

The Cabinet cleared spectrum trading guidelines on Wednesday under which telecom operators will be able to sell radiowaves to other service providers, a move that will help address the problem of spectrum shortage.

Cheering the announcement, share price of Reliance Communication surged 11.57 per cent to Rs 62.20, followed by Bharti Airtel and Idea Cellular which gained 2.44 per cent and 2.12 per cent at Rs 355.20 and Rs 149.20, respectively, on Wednesday. Sensex closed 1.59 per cent higher at 25,719.58.

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