A day before Volvo, the Swedish truck maker, was to partly sell its stake in Eicher Motors, investors dumped the latter's shares, forcing the stock down a little over three per cent on the BSE.

After clarification that Volvo would remain committed to its India operations, which it runs jointly with Eicher, the Delhi-based company's shares closed with a gain of one per cent on Wednesday.

After running five start-up accelerator batches in India, Microsoft Ventures launched two new programmes on Wednesday — Accelerator Plus and Scale Up — which would focus on late-stage start-ups. The start-up engagement arm of the US technology major has so far conducted only 'acceleration programmes' that included companies from idea to mature stages.

Accelerator Plus will include start-ups, which have raised seed-level funding and has at least 50 clients (for business-to-business (B2B) segment) and 20,000 customers (business-to-customer (B2C) space).

Infosys co-founder N R Narayana Murthy and his wife sold a part of their stake to set up a venture fund. With Rs 600 crore, Catamaran Ventures was established in 2009-10.

Murthy was following Azim Premji, founder of Wipro, who had set up a private equity arm, PremjiInvest, to manage his wealth. PremjiInvest, with Rs 10,000 crore, up from Rs 1,500 crore in 2007, making it the largest family office in Asia, made its first investment in 2007, buying a three per cent stake in National Stock Exchange (NSE) for $100 million.

Nearly 240 people on board a Turkish Airlines jet had a lucky escape when the plane missed the runway on landing in dense fog at the Kathmandu airport today and skidded onto nearby grassland. The Airbus A330 from Istanbul skidded off after over- shooting it at the Tribhuvan International Airport as it missed the central line of the runway while landing.

There were 227 passengers and 11 crew members in the aircraft and all were safely evacuated from the emergency door without any injuries, airport authorities said. The flight from Istanbul had both Nepalese and foreigners on board.

India raised a number of issues with Pakistan on Tuesday, including cross-border terrorism, 2008 Mumbai terror attacks, and the ongoing ceasefire violations across the Line of Control (LoC), during the visit of Foreign Secretary S Jaishankar to Islamabad.

The foreign secretary, who was in Pakistan as part of Prime Minister Narendra Modi’s ‘SAARC Yatra’ initiative, also met Pakistan Prime Minister Nawaz Sharif; Sartaj Aziz, Sharif’s advisor on foreign affairs and national security; and Tariq Fatemi, special assistant to Sharif. Jaishankar met Sharif later in the day and handed over a letter written by Prime Minister Narendra Modi to him.

Alibaba Group Holding Ltd Executive Chairman Jack Ma, whose company was told to leave Taiwan within six months over alleged investment violations, said the e-commerce giant followed local laws when it entered the market.

Taiwan is very important for Alibaba, Ma told reporters Tuesday after delivering a speech to university students in Taipei. As a global company, no matter where we go in the world, we need to comply with the local laws.

NEW DELHI: With just hours left for a crucial party meeting, Arvind Kejriwal quit as the national convenor of the Aam Aadmi Party, raising the stakes in the camp war against dissenting duo Yogendra Yadav and Prashant Bhushan.

AAP sources said Kejriwal sent his resignation letter to AAP national secretary Pankaj Gupta on Wednesday morning. They said Kejriwal had offered to quit in the last meeting of the national executive council (NEC) on February 26, but it was rejected overwhelmingly by the council.

The world’s oldest person says 117 years doesn’t seem like such a long time.

Misao Okawa, the daughter of a kimono maker, made the comment on Wednesday, at a celebration a day before her 117th birthday. Appropriately, she was wearing a pink kimono decorated with cherry blossom prints.

Raghuram Rajan, governor, Reserve Bank of India (RBI), seems to enjoying surprising the markets by cutting rates unannounced and ahead of monetary policy reviews.

After the rate cut on January 15, the Bank has cut rates by 25 basis points on Wednesday morning bringing the key repo rate down to 7.50%. Rajan said, "Given low capacity utilisation and still-weak indicators of production and credit off-take, it is appropriate for the Reserve Bank to be pre-emptive in its policy action to utilise available space for monetary accommodation.

Virat Kohli's short-tempered nature has landed him in unwanted trouble yet again.

In a case of mistaken identity, India's vice captain allegedly used filthy language against a New Delhi-based journalist, here on World Cup duty, on the sidelines of a practice session on Tuesday. Making his way from the ground to the dressing room at the Sports Oval, located on the premises of Murdoch University, Kohli apparently launched an unprovoked attack on the scribe.

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