Business Highlights Of The Day

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Following are major business news stories:

LD STOCKS
Mumbai: Market benchmark BSE Sensex today rose by 135 points or 0.36 per cent to close at a fresh life-time high while the NSE Nifty breached the 11,400 level powered by gains in banking, energy and telecom stocks.

AVI-AIR INDIA-SALARIES
Mumbai: Debt-laden Air India has not paid salaries to its employees for the month of July and is yet to communicate the possible date of payments, sources said.

TELECOM-APPS
New Delhi: The telecom department has sought views of the industry on technical measures that can be adopted for blocking mobile apps like Instagram, Facebook, WhatsApp, Telegram, etc in situations where national security and public order are under threat.

LSQ-FLIPKART-WALMART
New Delhi: The government today said it has received representations from trade bodies alleging irregularities in various aspects of the proposed acquisition of Flipkart by Walmart and that have been sent to concerned agencies for necessary action.

BIZ-TEXTILE-IMPORT DUTY
New Delhi: The government is likely to hike import duty on about 300 textile products tomorrow with a view to boost domestic manufacturing.

ONGC-PAWAN HANS
New Delhi: The board of ONGC has, for the second time in just over a month, approved selling its entire 49 per cent stake in helicopter service provider Pawan Hans alongside government’s privatisation bid, officials with direct knowledge of the development said.

RUPEE CLOSE
Mumbai: The rupee today skidded to its lowest in two weeks, falling by a staggering 28 paise to end at 68.88 against the US dollar on frantic demand for the US currency from importers and corporates.

BULLION-CLOSE
New Delhi: Gold prices edged up by Rs 35 to Rs 30,585 per 10 grams at the bullion market today on persistent buying by local jewellers, shrugging off a weak trend overseas.

RCOM-ERICSSON
New Delhi: Debt-ridden Reliance Communications is looking to complete the sale of its business assets worth Rs 25,000 crore by the end of this month and has also agreed to pay Rs 550 crore towards settlement to telecom gearmaker Ericsson by September-end.

TEXTILE-IMPORT DUTY
New Delhi: The government is likely to hike import duty on about 300 textile products tomorrow with a view to boost domestic manufacturing.

GADKARI-VEHICLE SCRAPPING
New Delhi: The proposed policy for scrapping 20-year old commercial vehicles will go for another round of consultations with stakeholders as per the PMO directions, Union Minister Nitin Gadkari said today.

AIRTEL-TELECOM EGYPT
New Delhi: Bharti Airtel and Telecom Egypt today announced a strategic partnership through which the Indian firm will get the right to use sub-marine cable networks — MENA and TE North, which stretches from Cyprus to France via Egypt.

SOURCEPTI

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