A Reserve Bank of India (RBI) logo. (Photo: Reuters)
We are the happiest when we make homes beautiful for people with thin wallets, says Ikea CEO Jesper Brodin. (Abhijit Bhatlekar/Mint)
We are the happiest when we make homes beautiful for people with thin wallets, says Ikea CEO Jesper Brodin. (Abhijit Bhatlekar/Mint)

India will be a test laboratory for Ikea worldwide: CEO Jesper Brodin

  • Ikea Group president and chief executive Jesper Brodin on Ikea’s expansion plans for Mumbai and the rest of India
  • He also dwelt on new format stores and local adaptations according to India's urban challenges and cultural requirements

Jet Airways has also suspended services on the Bangalore-Singapore route (Reuters)
Moore called the Fed’s decision to hike rates in December a 'substantial mistake'. Photo: Bloomberg
Moore called the Fed’s decision to hike rates in December a 'substantial mistake'. Photo: Bloomberg

Donald Trump nominates Stephen Moore to the Federal Reserve board

  • Moore’s selection is just the latest step in Trump’s effort to exert control over the US central bank
  • 'I want to be somebody who can really help Chairman Powell,' said Moore in an interview

The crackdown on Ola is likely to impact its business in its home city and largest market, Bengaluru. (Mint)
A file photo of Piramal Group's executive director Anand Piramal.
A file photo of Piramal Group's executive director Anand Piramal.

Property distress in India has Piramal prowling for acquisitions

  • Piramal Realty's sales have quadrupled this year to 30 billion, fueled by new projects in the south of Mumbai
  • Anand Piramal says more land will become available in the next six to nine months as some distressed developers are forced into bankruptcy

Economic affairs secretary Subhash Chandra Garg (Bloomberg)
Economic affairs secretary Subhash Chandra Garg (Bloomberg)

Economic affairs secretary SC Garg defends data revisions amid controversy

  • Revisions to economic statistics are a fact and the revisions themselves are based on facts, says Subhash Chandra Garg
  • 108 economists last week accused the Centre of deliberately revising or withholding statistics that show the government in poor light

US President Donald Trump (AP)
About 150 firms have applied for tax relief to startups announced in March. (Pradeep Gaur/Mint)
About 150 firms have applied for tax relief to startups announced in March. (Pradeep Gaur/Mint)

I-T dept exempts about 120 startups from angel tax net

  • Under new plan, an entity is considered a startup eligible for tax relief for up to 10 years from date of incorporation
  • The move brings to an end a major tax problem faced by startups wrongly caught in an anti-tax evasion provision

(From left) Rashtriya Lok Samta Party’s Upendra Kushwaha, Congress’s Shaktisinh Gohil, Hindustani Awam Morcha’s Jitan Ram Majhi and RJD’s Tejashwi Yadav in New Delhi. (PTI)
(From left) Rashtriya Lok Samta Party’s Upendra Kushwaha, Congress’s Shaktisinh Gohil, Hindustani Awam Morcha’s Jitan Ram Majhi and RJD’s Tejashwi Yadav in New Delhi. (PTI)

Grand alliance finalizes seats in Bihar, RJD gets 20, Congress 9

  • The Lok Sabha elections in Bihar are expected to be a two-way contest between the grand alliance and the NDA
  • Sharad Yadav, a former national convener of the NDA, will contest the Lok Sabha elections again on the RJD symbol

IndiGo will take delivery of the aircraft over the next 12 months and will refit 15 of them with 220 seat-configurations.
India's boycott of Pakistan National Day comes amid rising tensions in the wake of the Pulwama attack. (AFP)
India's boycott of Pakistan National Day comes amid rising tensions in the wake of the Pulwama attack. (AFP)

India to boycott Pakistan National Day programme

  • India’s high commissioner to Pakistan, Ajay Bisaria, to not attend any official function in Islamabad to mark Pakistan National Day
  • Any attempt by Pakistan HC to engage with Hurriyat won’t be taken lightly, says foreign secretary Raveesh Kumar

Photo: Mint
 (iStock)
(iStock)

First-time credit card user? Avoid these mistakes

  • Most credit card frauds are primarily phishing frauds. Basically, fraudsters pretend to be calling from a bank or a company and customers tend to fall prey to it.
  • You can also limit the amount of transaction on your credit cards—a facility provided by card issuing companies on their net banking platform

 (iStock)
GVK’s plans to divest its own stake in MIAL to raise funds could run into trouble in view of the latest developments. 
GVK’s plans to divest its own stake in MIAL to raise funds could run into trouble in view of the latest developments. 

GVK hikes MIAL stake in bid to block rivals  

  • GVK group acquired the entire 10% stake of Airports Co. South Africa (ACSA) Global Ltd in Mumbai International Airport Limited (MIAL) for 924 crore
  • GVK initially owned a 50.5% stake, while two South African companies, Bidvest Group and ACSA Gobal Ltd, held 13.5% and 10%, respectively

 (Reuters)
According to IDC, HP led the market with 31% overall market share, followed by Dell (23%), Lenovo (20.6%), Acer (12%) and Apple (3.9%) in 2018. (Reuters)
According to IDC, HP led the market with 31% overall market share, followed by Dell (23%), Lenovo (20.6%), Acer (12%) and Apple (3.9%) in 2018. (Reuters)

Dell plans to expand retail presence across 1,300 cities, towns

  • Dell will be looking to increase its presence in 300 more Indian cities and towns this year
  • Dell said it is reaching out to students in tier III and IV towns in India where it is creating awareness around gaming PC and career options linked to it

Finance minister Arun Jaitley (PTI)
 (iStock)
(iStock)

How do contactless cards work?

  • If the transaction amount is above Rs. 2000, the transaction can not made through the tap-and-pay option
  • If there is a fraud on the card, the customer is completely protected because the bank has to mandatorily cover the loss

 (iStock)
(iStock)

Insurance technology gets crowded

  • Although insurance technology is still at a nascent stage, firms are attracting investors’ attention.
  • $220 million has been pumped in to insure tech companies in first two months of 2019.

(Image for representation purposes only) (Photo: Bloomberg)
 (Photo: Reuters)
 (Photo: Reuters)
(Photo: Reuters)

RIL denies sidestepping US sanctions on Venezuela

  • RIL's denial comes after a report said that the company has sidestepped US sanctions on Venezuela by selling fuel from India and Europe to Venezuela
  • RIL has been in continuous communication with the US Department of State regarding its activities in Venezuela

 (Photo: Reuters)
In its annual report, Nokia said certain practices at the former Alcatel-Lucent business had raised its concerns during the integration process and it had informed relevant regulatory authorities, without elaborating. (Reuters)
In its annual report, Nokia said certain practices at the former Alcatel-Lucent business had raised its concerns during the integration process and it had informed relevant regulatory authorities, without elaborating. (Reuters)

Nokia plays down compliance issues after shares drop

  • Nokia sought to play down the risks of an investigation into compliance issues at its Alcatel-Lucent business after its shares fell sharply
  • Nokia flagged the issue in its annual report which was released late on Thursday to the US Securities and Exchange Commission

PM Narendra Modi.  (Photo: Mint)
 (Photo: Pradeep Gaur/Mint)
(Photo: Pradeep Gaur/Mint)

Sterling Biotech case: Hitesh Patel held in Albania

  • Patel, wanted by the ED, was detained by law enforcement officials of Albania in the capital city of Tirana on Wednesday
  • Patel is an accused in a 5,000 crore money laundering case -- as part of the 8,100 crore bank loan fraud allegedly perpetrated by the Sterling Biotech Group

The detailed rationale for deviation from the price post haircuts or the price provided by the valuation agencies should be recorded by the AMC
The detailed rationale for deviation from the price post haircuts or the price provided by the valuation agencies should be recorded by the AMC

Sebi issues valuation of debt securities rated below investment grade

  • Sebi said all money market and debt securities which are rated below investment grade shall be valued at the price provided by valuation agencies
  • Till the agencies compute the valuations, such securities would be valued on the basis of indicative haircuts provided by the agencies

A file photo of Election Commission building in Delhi (Photo: Mint)
A file photo of Election Commission building in Delhi (Photo: Mint)

Statistical Institute submits report on paper trail count to Election Commission

  • Refusing to divulge much, sources in the poll panel claimed the ISI was of the view that "5%" match would be sufficient to enhance voters' faith in the EVM
  • There have been demands by parties to increase the number of polling stations where VVPAT slips are matched with EVM results

C S Shivalli.
President of India Ram Nath Kovind. (Photo: AP)
President of India Ram Nath Kovind. (Photo: AP)

President Ram Nath Kovind to visit Croatia, Bolivia and Chile next week

  • Kovind will first visit Croatia from March 25-28 in what would be the first visit by an Indian president to the European country
  • Kovind will head to Bolivia on March 28 for a three-day visit, the first high-level visit to the country since the establishment of diplomatic ties

Garuda Indonesia has sent a letter to Boeing last week requesting to cancel the order worth $4.9 billion (Photo: Bloomberg)
Garuda Indonesia has sent a letter to Boeing last week requesting to cancel the order worth $4.9 billion (Photo: Bloomberg)

Garuda Indonesia seeks to cancel order for 49 Boeing Max 8s

  • It is the first announcement of a cancellation since Boeing's new model aircraft were grounded following fatal crashes
  • Garuda joined other airlines worldwide in grounding its one Max 8 jet after the crash of an Ethiopian Airlines flight this month

 (Photo: PTI)
BJP Karnataka President BS Yeddyurappa. (PTI)
 (Photo: istockphoto)
(Photo: istockphoto)

NSEIT acquires cybersecurity company Aujas

  • Founded in 2008, Aujas has operations in India, the Middle East and North America
  • NSEIT currently provides technology solutions across industries such as capital markets, financial markets, banking and insurance

The company has declared an interim dividend of  ₹5.83 per equity share of  ₹10 each for 2018-19 (Photo: Photo: Pradeep Gaur / Mint)
The company has declared an interim dividend of 5.83 per equity share of 10 each for 2018-19 (Photo: Photo: Pradeep Gaur / Mint)

Power Grid Corporation pays 1,600 crore interim dividend to govt for 2018-19

  • The total interim dividend disbursed was 3,050.02 crore for 2018-19 to about 5.91 lakh shareholders of the company
  • Power Grid Corporation handed over electronic payment remittance advice for payment of 1,629.62 crore for 2018-19 to the Government of India

Cash-strapped airline Jet Airways advanced 3.60 % to settle at  ₹225.85. It had touched an intra-day high of  ₹230 (Photo: Ramesh Pathania/Mint)
Cash-strapped airline Jet Airways advanced 3.60 % to settle at 225.85. It had touched an intra-day high of 230 (Photo: Ramesh Pathania/Mint)

Aviation stocks up 7% even as DGCA report shows slow passenger growth

  • Stock of SpiceJet zoomed 7.04 % to 98.10. Intra-day, it rose 14.23 % to touch a high of 104.70.
  • InterGlobe Aviation closed the counter with 0.28 % gains at 1,426.85. During the day, it was trading at 1,459.30, up 2.56 %

The strategy is offering lenders extra returns of about 100 basis points. Photo: Mint
The strategy is offering lenders extra returns of about 100 basis points. Photo: Mint

Biggest India bond holders ditch government paper for state debt

  • Banks are buying state bonds and moving them to the so-called held-to-maturity group
  • India’s $807 billion sovereign-debt market is battling poor demand and increased volatility ahead of Lok Sabha polls

Gautam Gambhir being welcomed into the BJP. (Ramesh Pathania/Mint)
Photo: Mint
Mayawati has ruled herself out keeping the interest of the nation in mind (AFP)
Users from Brazil, Argentina, and France also confirmed the availability of WhatsApp Business for iOS devices in their countries.
Users from Brazil, Argentina, and France also confirmed the availability of WhatsApp Business for iOS devices in their countries.

WhatsApp Business now available on iOS: well, almost

  • The company has not officially announced the rolling out of its Business app, but some users from Mexico, Brazil and Argentina confirmed the availability
  • WhatsApp Business was announced back in September 2017 and launched for Android in January 2018

 (Reuters)
Punjab National Bank maintains the $2 billion PNB fraud, perpetrated by Nirav Modi at the bank's Brady House branch in Mumbai, was not the result of a systemic problem. (Abhijit Bhatlekar/ Mint)
Punjab National Bank maintains the $2 billion PNB fraud, perpetrated by Nirav Modi at the bank's Brady House branch in Mumbai, was not the result of a systemic problem. (Abhijit Bhatlekar/ Mint)

How PNB fraud exposed chinks in India's banking industry

  • Nirav Modi's arrest seen as a milestone in India's efforts to deal with those attempting to dupe the banking industry
  • An increasing number of bank frauds has led to bankers becoming very cautious in making lending decisions

The board of the IT company had met on Wednesday too, but no decision was taken on the agenda item at hand. (Mint)
The board of the IT company had met on Wednesday too, but no decision was taken on the agenda item at hand. (Mint)

Mindtree board to meet again on 26 March

  • L&T has entered into a deal to buy Cafe Coffee Day owner V G Siddhartha's 20.32 % stake in Mindtree
  • Mindtree CEO and promoter Rostow Ravanan said the company's board would deliberate on the buyback or the open offer within the framework of the law

Facebook logo.  (AFP )
SBI chairman Rajnish Kumar. (PTI)
Elections 2019
View All
Nifty jumped 0.50% to 11,566. (Reuters)
A file photo of Reserve Bank of India (RBI) Governor Shaktikanta Das. (AFP)
A likely leadership churn at Mindtree is seen as a key risk to L&T’s hostile takeover bid.
A likely leadership churn at Mindtree is seen as a key risk to L&T’s hostile takeover bid.

A culture shock awaits Mindtree employees under L&T

  • Mindtree has an informal work culture: many of its employees call members of the founding team by their first names
  • In contrast, Larsen and Toubro's (L&T) work culture is based on command-and-control and top-down management