The trade association of Indian IT companies, National Association of Software and Services Companies (Nasscom), on Friday, termed the reports of the U.S. investigation into IT companies as ‘unfortunate’ and ‘an attempt to create negative sentiments about these companies’.

The apex body also said attempts were being made in certain quarters to create this negative impression without looking at ‘facts and logic’. It said such efforts would have detrimental impact on the strategic partnership and mutually beneficial economic and trade relationship the two countries were striving to nurture.

NEW DELHI: National passenger carrier on Saturday denied reports of a lizard being found in the food tray of a passenger on board its New Delhi-London flight. The airline has termed it a "hoax" to tarnish its image.

"This incident never happened. As there is no record of it, no complained that was filed either in London, New Delhi or on-board the flight. No cabin crew or even the other passengers on the flight are even aware of such an incident and no one has come forward to complaint even now," a senior Air India official in New Delhi told IANS.

At least six persons were killed and around 100 others were injured when an ammonia gas tanker leaked early today in the district, police said.

The leak occurred when the tanker got stuck under a flyover on the Doraha Bypass Road along a canal, about 25 km from here, they said.

With imports falling, demand for gold is likely to moderate further in the June quarter.

Total imports in May are estimated around 60 tonne. For the June quarter, imports will likely be below 200 tonne.

Ashok Leyland today said it will seek shareholder approval to raise money through Qualified Institutional Buyers (QIBs) and other routes.

While the company didnot mention the amount it wants the raise, it said the funds will be used to support capex, as working capital and for investment in joint ventures etc.

With Maggi off the shelves, rivals are eyeing to capture the space. ITC, which sells Yippee noodles under its Sunfeast brand, has taken to the direct communication route to push the sales. It has provided retailers with leaflets to be shown to Maggi loyalists. The leaflets assure customers of Yippee’s quality and safety standards.

"Stringent tests are conducted for our food products at ITC's NABL (National Accreditation Board for Testing and Calibration Laboratories)-accredited Life Sciences and Technology Centre as well as FSSAI (Food Safety and Standards Authority of India)-approved, NABL-accredited external laboratories.

In the run-up to primaries ahead of the US Presidential elections next year, two of India's largest information technology (IT) outsourcing services companies - Infosys Technologies and Tata Consultancy Services - have come under the scanner of authorities in that country for alleged violation of visa rules.

According to a New York Times report, the Department of Labour has opened an investigation against TCS and Infosys for "possible violations of rules for visas for foreign technology workers under contracts they held with an electric utility, Southern California Edison". This is based on the allegations that many of the 500-odd technology workers laid off by Southern California Edison were made to train their replacements, who were immigrants on temporary visas and brought in by these Indian companies.

BSE Sensex and NSE Nifty edged higher in a choppy session on Friday, while still on course for a third consecutive weekly decline, as gains in Reliance Industries after its annual shareholder meeting, overpowered falls in IT exporters for the day.

At 03.20 pm, Sensex was up 64.39 points at 26435.37, whereas Nifty gained 21.30 points at 7986.65 during the same time.

EMIs of home, auto and other loans are likely to come down further with Finance Minister Arun Jaitley today saying that banks have promised greater rate cuts in the coming days and weeks.

After discussing a host of issues like transmission of rate cuts, problems of higher bad loans and health of the economy with heads of state-owned banks, the Minister told reporters that financial services secretary would look into projects held up for want of funds and exuded confidence that soon economy would move to higher growth trajectory.

Reliance Industries will begin commercial operations of its much-awaited 4G telecom services by December, while it plans to complete projects worth over Rs 2 lakh crore in the core oil and petrochemical businesses over the next 12-18 months, Chairman Mukesh Ambani said today.

Looking to reap full benefits of these investments from the financial year 2016-17 onwards, Ambani said RIL would have a unique portfolio of globally competitive petrochemical and refining business with a new age India-centric consumer business with very high growth potential.

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