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Top News / The Economic Times

Tatas to sell e-learning solutions unit for Rs 80 crore

MUMBAI: Tata Industries, an investment arm of the Tata Group, is selling its e-learning solutions outfit to Noida-based publishing technology and services company MPS for Rs 80 crore. The sale is part of Tata Group’s strategy to streamline its diverse portfolio by exiting small, not so profitable, and non-core businesses. Tata Industries had offered the e-learning division Tata Interactive Systems (TIS) to TCS — which also has a play in digital learning — but, the software behemoth was not

25 Apr 2018 11:34 am
India recalls GSAT-11 satellite for tests from Arianespace's rocket port

Chennai, April 25 (IANS) The Indian space agency has recalled its communication satellite GSAT-11 from Arianespace's rocket port in Kourou in French Guiana, said Arianespace.

25 Apr 2018 11:12 am
How Asumal became Asaram: A tongawala's journey from godman to rape convict

63903700 NEW DELHI: The story of Asaram Bapu, the godman who has been convicted today inside the Jodhpur Central Jail for rape, is the stuff movies are made of. From his poverty-ridden childhood, Asaram did come a long way—starting off on a tonga. After Partition, Asumal's (his original name) father, Taumal Harpalani, came to Gujarat from Pakistan's Sindh. Asumal was seven years old and the family lived in acute poverty. His father worked in different cities of Gujarat before the f

25 Apr 2018 11:06 am
How technology is opening up the gates of bigger opportunities for India

By Chuck RobbinsCEO, CiscoIndia’s recent growth has been impressive – its 7.2% GDP makes it one of the fastest growing economies globally, and government initiatives such as Digital India and Make in India, as well as increasing FDI limits, are also generating massive opportunity.In my view, India’s momentum is building tremendously — and it is technology that’s making it happen, opening up even bigger opportunities for growth, inclusion, and further investment. Consider the example of

25 Apr 2018 10:44 am
Merger with Indus Towers not to affect Bharti Airtel: Fitch

Talking to ET Now, Nitin Soni, Fitch Rating, says the main synergies from the merger of Bharti Airtel and Indus Towers will come from the saving on the dividend distribution tax and greater economies of scale.Edited excerpts:It appears Bharti Airtel was trying to offload some stake in Indus Towers and that did not come through. Now there is to be a merger. How will a merger improve the prospects? This is on expected lines. Bharti Airtel has been gradually selling its stake in Infratel and the pl

25 Apr 2018 10:31 am
TATA Motors to rev up overseas focus

NEW DELHI: Tata Motors is working on revamping its product portfolio and entering new large markets to strengthen its overseas presence once vehicles developed on its recently-unveiled advanced modular platform start hitting the roads in 2019.aAs part of its transformation, the automaker, which took the fourth spot in the local passenger vehicle market last year, has made significant changes to its exports strategy. It has already commenced engineering a transition from its previous product port

25 Apr 2018 10:14 am
US Embassy move in Israel emblematic of broader policy shift

WASHINGTON (AP) — When the Stars and Stripes is hoisted over the new U.S. Embassy in Jerusalem next month it will be a physical milestone in a broader, striking shift by the Trump administration away from a half-century of traditional U.S. policy toward Israel and the Palestinians.

25 Apr 2018 10:04 am
Senators grow frustrated with lax Trump vetting on nominees

WASHINGTON (AP) — As President Donald Trump's pick to lead Veterans Affairs skids to a halt, senators from both parties are voicing frustration that the White House is skipping crucial vetting of nominees and leaving lawmakers to clean up the mess.

25 Apr 2018 9:58 am
Mixed signals from Trump on VA nominee as allegations build

WASHINGTON (AP) — His nomination in peril, Veterans Affairs nominee Ronny Jackson fought to convince lawmakers of his leadership abilities as more details of accusations against him emerged, ranging from repeated drunkenness to a toxic work environment as he served as a top White House doctor.

25 Apr 2018 9:56 am
AP FACT CHECK: Trump's Iran cash story oft-told, still bogus

WASHINGTON (AP) — President Donald Trump likes to tell a story about the U.S. paying out billions of dollars to Iran as part of the multinational deal freezing its nuclear program and easing sanctions against it. What he doesn't say is that most of that money was Iran's to begin with.

25 Apr 2018 9:44 am
Sensex drops over 50 pts, Nifty50 below 10,600; Airtel climbs 2%

NEW DELHI: In line with global peers, the domestic equity market started on a negative note on Wednesday. At 09:18 am, the S&P BSE Sensex was trading 29.43 points lower at 34,587.21. The broader Nifty50 index of National Stock Exchange (NSE) was trading 15 points lower at 10,599, with 37 out of 50 constituents in the red and rest 18 in the green.Telecom major Bharti Airtel surged as much as 3 per cent to Rs 419.70 in the opening deals after the company posted better-than-expected results for Mar

25 Apr 2018 9:23 am
Sebi to take final call on Mallya chairing UBL Board

MUMBAI: The stock market regulator will soon pass a final order on whether former liquor baron Vijay Mallya can hold board positions in listed companies, which will also end the country’s largest beer maker United Breweries’ long wait for a full-time chairman. Mallya — who the Indian government has been trying to extradite from Britain over charges of fraud for the past few years — has been reluctant to nominate a successor or step down from the board of United Breweries (UBL), a joint v

25 Apr 2018 8:52 am
Fresh bidding likely for Essar Steel

MUMBAI|KOLKATA: A decision on the resolution of Essar Steel’s bankruptcy remained elusive though the committee of creditors on Tuesday appeared to move towards a third round of bids and grant more time for Numetal and ArcelorMittal to gain eligibility. Two people familiar with discussions at the creditors meet on Tuesday said lenders believe it is difficult to ignore the resolution professi 63904056 onal’s view that Arcelor and Numetal are ineligible to bid for Essar. The lenders foun

25 Apr 2018 8:44 am
Adhunik Metaliks, bankers seek Liberty House loan info

MUMBAI: Adhunik Metaliks’ insolvency professional and bankers have sought information on an outstanding loan that UK-based Liberty House didn’t mention in it 63904056 63904386 s bid for the bankrupt Indian steelmaker, two people with direct knowledge of the matter said. In a letter to the UK-based company, they sought to know the current status of the Rs 18-crore loan and why it didn’t mention it in the bidding documents, said a banker in the know. Liberty House is one of two bidder

25 Apr 2018 8:32 am
India may face pressure to cut duties on 90% of goods traded with China

NEW DELHI: India is likely to face greater pressure to eliminate duties on 90% of goods it trades with China under the mega trade agreement among 16 Asia Pacific countries that is in the works.Officials said that China, which has till now not aggressively pushed to fast track negotiations in the Regional Comprehensive Economic Partnership (RCEP), has shown a new keenness to “engage actively” ahead of the next round of talks later this week, the first after it its trade standoff with the US.T

25 Apr 2018 8:31 am
Banks call govt's Rs 40,000 crore tax demand frivolous, want it taken back

The Indian Banks’ Association is planning to lobby the government against an arbitrary tax notice which seeks to extract as much as Rs 40,000 crore from the country’s banks.In a notice served earlier this month, all banks were asked to pay service tax, penalties and interest on free services offered to customers. ET was the first to report the move in its April 24 edition. The demand is retrospective with a 12% service tax claimed since 2012, 18% interest on the amount and a 100% penalty.“

25 Apr 2018 8:18 am
We got peanuts for hike: IT staff post pay gripe on social media

BENGALURU: Employees at Indian IT services companies have seen single digit salary hikes even when companies are paying out a greater portion of their variable pay component in response to faster growth and higher people attrition.Many employees are unhappy over marginal hikes on fixed pay and that they have to fall back on their quarterly bonuses for a pay boost. The displeasure has spilled out on to social media, with many contrasting their hikes against large payouts made to investors on one

25 Apr 2018 8:14 am
NCLT reserves order on Binani Cement

63904056 KOLKATA |MUMBAI: The Kolkata bench of National Company Law Tribunal (NCLT) on Tuesday reserved its order on the ongoing corporate insolvency resolution process of Binani Cement after listening to multiple petitions related to the asset’s resolution. The bench has heard all the 14 petitions except the one filed by the Resolution Professional (RP) alleging fraudulent transactions involving the promoters of Binani Cement. Ultratech was the second-highest bidder for Binani Cement.

25 Apr 2018 7:59 am
Sales rise at Vikram Bakshi-run McDonald's

NEW DELHI: After months of slump because of a bitter legal battle, quick service restaurant chain McDonald’s India (MIPL)’s north & east business, operated by estranged managing director Vikram Bakshi-led Connaught Plaza Restaurants (CPRL), has reported a 6% increase in March 2018, compared with March 2017, according to internal numbers by CPRL, a person directly aware of the development said.McDonald’s had terminated its joint venture with CPRL last year in August, but the Indian venture

25 Apr 2018 7:45 am
Google launches ‘Google for jobs’ in India

NEW DELHI: After launching Google for Jobs last year in the US, the search giant has brought the feature to India on Tuesday. According to the company, jobseekers now will be able to directly search for jobs across over a dozen partners through the Google search bar making the process less cumbersome and making jobs more discoverable.Some of the partners include, IBM Talent Management Solutions, LinkedIn, Quezx, QuikrJobs,, T-Jobs, TimesJobs, and Wisdomjobs along with Aasaanjobs, Fresh

25 Apr 2018 7:42 am
'Sony ensured BCCI rights went only at an unviable price'

MUMBAI: Sony Pictures Networks India (SPN) may have lost out to rival Star India in acquiring the media rights for Indian cricket earlier this month, but the broadcaster made sure that its competitor shelled out a price which barely made business sense.“We were clear that either we will get the BCCI media rights at the right price, or let them go at a price which would be economically unviable,” NP Singh, chief executive at SPN, told ET. He said that going into e-auctions, he knew that it’

25 Apr 2018 7:35 am
The administrative battle that has prevented the rise of mega cities in India

By Swaminathan S Anklesaria AiyarThe terms of reference of the 15th Finance Commission have raised a storm of protest, because they mandate the use of 2011 census data, not the 1971 data used by earlier Finance Commissions, to help determine the sharing of central taxes between the states. The southern states have been especially vocal, although this affects the western states too.This ruckus has distracted attention from the broader question of which flaws in the existing system should become t

25 Apr 2018 6:50 am
Cheese puffs? Iran says Haley showed fabricated Houthi proof

NEW YORK (AP) — To the Trump administration, the recovered missile fragments were incontrovertible proof that Iran was illicitly arming Yemen's Houthi rebels. Yet Iranian Foreign Minister Mohammad Javad Zarif brushed it off Tuesday as little more than cheese puffs.

25 Apr 2018 4:36 am
The Latest: Pacific admiral considered for South Korea post

6:45 p.m. The Trump administration is considering nominating the commander of U.S. forces in the Pacific, Adm.

25 Apr 2018 4:26 am
AP FACT CHECK: Trump's oft-told tale of US payout to Iran

WASHINGTON (AP) — President Donald Trump likes to tell a story about the U.S. paying out billions of dollars to Iran as part of the multinational deal freezing its nuclear program and easing sanctions against it. What he doesn't say is that most of that money was Iran's to begin with.

25 Apr 2018 3:52 am
EPA chief signs proposal limiting science used in decisions

WASHINGTON (AP) — Environmental Protection Agency Administrator Scott Pruitt signed a proposed rule Tuesday that seeks to restrict the types of scientific studies that regulators can use to determine the impact of pesticide and pollution exposure on human health.

25 Apr 2018 3:38 am
Senate votes to confirm Trump nominee for US appeals court

WASHINGTON (AP) — The Senate on Tuesday voted to confirm one of President Donald Trump's nominees to serve on the 5th U.S. Circuit Court of Appeals in New Orleans.

25 Apr 2018 3:38 am
Trump, Macron make a show as best buds but tussle over Iran

WASHINGTON (AP) — With exaggerated handshakes and a pair of kisses, President Donald Trump and French President Emmanuel Macron professed a sunny, best-friends relationship Tuesday, even as the two allies strained to bridge differences over the Iran nuclear agreement, Syria and more.

25 Apr 2018 3:36 am
Correction: Trump-DNC Lawsuit story

NEW YORK (AP) — In an April 20 story about the Democratic National Committee filing a lawsuit over Russian meddling in the 2016 election, The Associated Press reported erroneously that U.S. Rep.

25 Apr 2018 3:24 am
The Latest: Diplomat pushes Iran's plan for Syria peace

3:10 p.m. Iran's foreign minister says the warring parties in Syria should accept the four-point peace plan that Iran put forward in 2013.

25 Apr 2018 12:56 am
Lawyer whose work got entangled in Mueller probe leaves firm

WASHINGTON (AP) — A prominent Washington lawyer who authored a report that's a key part of the special counsel's investigation into Paul Manafort has left his law firm.

24 Apr 2018 11:36 pm
Trump says VA pick will soon decide whether to withdraw

WASHINGTON (AP) — President Donald Trump said Tuesday his choice to lead Veterans Affairs would soon make a decision on whether to withdraw after the emergence of late-surfacing allegations about inappropriate behavior on the job and overprescribing prescription drugs.

24 Apr 2018 11:30 pm
The Latest: Trump says VA nominee to make decision soon

1:35 p.m. President Donald Trump says his nominee to lead Veterans Affairs, Dr.

24 Apr 2018 11:12 pm
VA pick faces allegations about conduct, drug prescriptions

WASHINGTON (AP) — President Donald Trump's pick to be Veterans Affairs secretary is facing late-surfacing allegations about inappropriate behavior on the job and over-prescribing prescription drugs, forcing a delay in his confirmation hearing.

24 Apr 2018 11:02 pm
Lawmakers: EPA security chief improperly runs outside firm

WASHINGTON (AP) — The security chief for the head of the Environmental Protection Agency has been operating an outside consulting firm without proper approval from ethics officials, Democratic lawmakers said Tuesday.

24 Apr 2018 10:44 pm
Supreme Court seems divided over Texas redistricting

WASHINGTON (AP) — The Supreme Court appeared divided Tuesday over Texas' appeal to preserve congressional and legislative districts that a lower court struck down as racially discriminatory.

24 Apr 2018 10:30 pm
Radiant Life Care submits revised offer for Fortis

The KKR-backed Radiant Life Care has submitted its revised offer for Fortis Healthcare, reported ET Now on Tuesday.The binding offer proposes to purchase Fortis Mulund Hospital without due diligence at Rs 12,000 crore.Radiant's revised offer also proposes spinning off SRL to maximise returns for Fortis shareholders, reported ET Now.The proposal calls for a de-merger of the Fortis hospital business. The plan is to set up a new entity, whose shareholders would get Rs 126 per share as part of Radia

24 Apr 2018 10:28 pm
The Latest: Melania Trump's white hat attracts attention

12:16 p.m. A pair of designers is responsible for Melania Trump's white skirt suit and matching hat.

24 Apr 2018 9:56 pm
Trade setup: Nifty50 may open on a tepid note; 10,650 level key

Indian equity market consolidated for yet another session on Tuesday, as the NSE benchmark Nifty50 ended with a modest gain of 29.65 points or 0.28 per cent. On expected lines, the market saw a quiet opening, and just when it started to correct in late morning trade, short covering gave it a lift. Bulk of the short covering was rollover in nature.Wednesday is the penultimate session of the expiry of the current derivative series. We once again expect a tepid start to the trade. The rollovers wil

24 Apr 2018 9:21 pm
Senators delay VA confirmation hearing amid new allegations

WASHINGTON (AP) — Senate leaders have delayed indefinitely the confirmation hearing for President Donald Trump's pick to be Veterans Affairs secretary amid late-surfacing allegations about the nominee's workplace practices and growing questions about his ability to manage the government's

24 Apr 2018 8:38 pm
Airtel makes surprise profit in Q4, but that's the only happy part

NEW DELHI: Telecom giant Bharti Airtel on Tuesday reported a 77.79 per cent fall in consolidated net profit at Rs 82.90 crore for the March quarter. The telco had posted a profit of Rs 373.40 crore in the corresponding quarter last year and Rs 305.80 crore in the December quarter. The company blamed “artificially suppressed pricing” and reduction in international termination rates for the fall in bottomline.Still, the profit in the March quarter came as a surprise as brokerages had predicted

24 Apr 2018 8:35 pm
Trump meets with Macron, praises US-French alliance

WASHINGTON (AP) — Praising the strength of America's oldest alliance, President Donald Trump welcomed French President Emmanuel Macron to the White House Tuesday with a pomp-filled ceremony on the South Lawn.

24 Apr 2018 8:12 pm
Trump praises strength of US-French alliance

WASHINGTON (AP) — Praising the strength of America's oldest alliance, President Donald Trump welcomed French President Emmanuel Macron to the White House Tuesday with a pomp-filled ceremony on the South Lawn, opening a day of talks on the future of the Iran nuclear deal and the crisis in Syria.

24 Apr 2018 7:40 pm
The Latest: Macron highlights ties between France and US

9:54 a.m. French President Emmanuel Macron is highlighting the close ties between his nation and the United States during his visit to the White House.

24 Apr 2018 7:32 pm
Grooms not wanted: US techies are losing their charm, courtesy Trump 

NEW DELHI: Indian IT engineers have been prized catches in the marriage market but slowly they are losing their hot status. Layoffs, pay cuts and US visa restrictions have taken the sheen off an Indian software engineer's job. Now the Donald Trump administration is terminating a provision which will further narrow the marriage prospects of Indian IT engineers. The Trump administration is planning to deny work permits to spouses of H1-B visa holders in the US. A 2015 rule issued by the Obama admi

24 Apr 2018 7:24 pm