Business Highlights For The Day

New Delhi, Aug 16 (PTI) Following are major business news stories of PTI till 1930 hours today:

VAJPAYEE-REFORMS

New Delhi: He built India’s most famous highway project, started privatisation to cut government’s role in running businesses and made big-ticket overseas acquisitions to secure energy supplies – former prime minister Atal Bihari Vajpayee was truly a bellwether policy reformer of modern India.

STOCKS

Mumbai: Benchmarks spiralled lower today as a plunging rupee and Turkey’s financial crisis sparked a retreat from equities, while lacklustre macro data further sapped investor confidence.

MARUTI PRICE HIKE

New Delhi: Country’s largest carmaker Maruti Suzuki India (MSI) today hiked prices of its vehicles by up to Rs 6,100 in order to partially offset increase in commodity and distribution costs and adverse foreign exchange rates.

RUPEE-CLOSE

Mumbai: The rupee today slid 26 paise to close below the 70-mark for the first time against the US currency, hammered by strong dollar demand amid growing concerns over widening trade deficit.

GOLD-CLOSE

New Delhi: Gold prices tumbled by Rs 290 to Rs 30,340 per 10 grams at the bullion market today, driven by weak global cues amid fall in demand from local jewellers.

RUPEE-OIL IMPORT BILL

New Delhi: India’s crude oil import bill is likely to jump by about USD 26 billion in 2018-19 as rupee dropping to a record low has made buying of oil from overseas costlier, government officials said today.

RUPEE-NITI

New Delhi: Niti Aayog vice chairman Rajiv Kumar today said the falling rupee is not a cause of worry as it is getting back to its natural value.

UBER-INDIA

New Delhi: Uber is “deliberately investing” in products like Uber Eats and Pool as well as “high-potential” markets in the Middle East and India even as the cab hailing app saw its losses widening year-on-year in the June 2018 quarter.

AIRTEL PAYMENTS BANK

New Delhi: Airtel Payments Bank and Bharti AXA Life Insurance today announced a pact to offer Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), leveraging the payments bank’s network in rural pockets. PTI SHW  SBT

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