NEW DELHI/ISLAMABAD: Tariq Khosa, former DG of Federal Investigation Agency of Pakistan, has said that 2008 Mumbai attack was planned and launched from Pakistani soil.

In an article published in Pakistani newspaper Dawn, Tariq Khosa has said that "Pakistan has to deal with the Mumbai mayhem, planned and launched from its soil."

New Delhi, Aug. 3: GSM players have demanded that they may be given the right to enter into arrangements with state-run BSNL on spectrum sharing and roaming.

A letter by the GSM lobby group, Cellular Operators Association of India (COAI), to telecom minister Ravi Shankar Prasad has stated that all "operators should be given equal opportunity to participate and enter into such arrangements with BSNL".

Alibaba is continuing its international push after hiring a Goldman Sachs veteran to lead its international business. Michael Evans, a thirty-year finance executive, has joined the company as its new president.

Evans, who left Goldman at the end of 2013 after 20 years with the firm, is not a new face per se, he’s been a member of Alibaba’s board since its U.S. public listing last year.

Bengaluru: DLF Ltd, India’s most valuable real estate firm, said it will seek board approval to create charge, lien or pledge of more than 50% of the company’s shareholding in three of its units to lenders to raise as much as Rs.7,500 crore.

DLF’s annual general meeting (AGM) is scheduled on 28 August.

Yahoo has announced that it has reached a definitive agreement to acquire Polyvore, a fashion discovery site that was founded in 2007 by three former Yahoo engineers. Polyvore provides brands and retailers a way to connect with influential consumers and drive sales through native advertising solutions. The deal amount is still undisclosed, but as per multiple resources familiar with the matter, it is said to be around $200 million.

The online payment industry is worth over 20 billion US dollars currently and expected to grow many folds in the time to come. Experts believe that with a significant 169% jump in the prepaid payment instrumentation (PPIs) in 2014-15 alone, payments is going to be the next big thing to happen to the online industry. There is no doubt that payment industry is fast spreading itself to become an integral part of Indian economy. The latest integration of the industry is the real estate business. Yes, that’s right. The rising payment industry boom has reached the real estate sector as well.

After opting for status quo in policy rates, Reserve Bank Governor Raghuram Rajan on Tuesday said any more cut will depend on further transmission of previous rate cuts by banks, softening in inflation and progress of monsoon.

“We are looking whether the recent increase in inflation is temporary and whether the monsoon will continue to be near normal. The oil price development is very beneficial and we will await greater transmission of our past actions by banks while we look and monitor developments for emerging room,” Dr. Rajan told reporters during the customary post-policy interaction with journalists here this morning.

The BSE Sensex ended 115.13 pts down at 28,071.93 after RBI kept the policy rates unchanged. NSE Nifty closed 26.15 points down at 8,516.90.

Asian Paints, BPCL, Bank of Baroda were among top gainers in the Nifty. Stocks of Idea, Cairn, ONGC and GAIL were among the top losers in the Nifty.

Top public sector lender State Bank of India (SBI) today ruled out any interest rate cut for its borrowers, even as the RBI chided banks for not having passed the full benefits of the last three reductions in its policy rate.

SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors, including credit growth, and she does not see any room for any cut in the near future.

At the annual general meeting of cigarettes-to-hotels major ITC on last Friday (July 31), chairman Y C Deveshwar came down hard on what he described as a restrictive regime for the domestic tobacco industry. In the process, Deveshwar informed shareholders of his "back-up" plan — a diversification exercise he initiated over a decade ago — to derisk the cigarette business. The latter gives ITC 40 per cent of its revenues and 85 per cent of its profits.

This initiative, which is a foray into fast moving consumer goods (called FMCG others by the company; here referred to as FMCG), is becoming critical to ITC as regulatory and taxation issues impact cigarette volumes.

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