Business

The country's forex reserves rose by a whopping $4.036 billion to life-time high of $379.310 billion in the week ended May 19, helped by a surge in the foreign currency assets, the Reserve Bank said.

The green panel had directed the MoEF and all state governments to decide within two months whether petcoke was "an approved fuel" as per the environmental laws.

Oil prices rose ahead of an OPEC meeting on Thursday that is expected to extend a production cut aimed at tightening the market well into 2018, adding at least nine months to an initial six-month cut in the first half of this year.

The benchmark BSE Sensex recovered about 121 points and the Nifty regained the 9,400-mark in early trade on Wednesday on fresh buying by investors amid better-than-expected earnings.

The new system would leverage MCA 21 database as primary data along with data available from other regulatory organisations and external sources including social media, that help in detecting potential frauds.

"As far as industrial alcohol is concerned, or any inputs of industrial alcohol, all of them would be under the GST ambit and the rate which we are going to put is 18 per cent," Adhia told CNBC TV18.

The ministry would be able to make crop specific output projections based on the Met department's second monsoon forecast likely to be released next month.

Retail inflation fell sharply to 2.99 percent in April, from 3.89 percent in March, due to lower cost of food items, including pulses and vegetables that showed a deflationary trend.

The BSE 30-share Sensex was quoting 48.76 points, or 0.16 per cent higher at 30,299.74 in early trade.

Tamil Nadu government on Thursday said US car maker Ford had set up manufacturing facilities in Gujarat in 2015, after their first unit in this state, to "avoid logistics cost" and to serve North and Western parts of the country.

The government is monitoring specific investment projects to find hard data on job creation amid concerns that not enough is being done to generate employment, Niti Aayog Member Bibek Debroy said on Thursday.

China should take competition from India seriously as the Indian economy may see "explosive" growth in the future, raising prospects of it becoming "China 2.0", according to a Chinese think-tank.

Japanese conglomerate SoftBank Group Corp (SBG) on Wednesday recognised losses of $1.4 billion in 2016-17 from its India investments -- Snapdeal and Ola.

In yet another milestone, Apple's market capitalisation briefly soared past $800 billion thresholds, making it the first company ever with such a mammoth valuation.

The government plans to raise up to Rs 1,224 crore by selling equity shares in the HUDCO's initial public offer (IPO) that has hit the capital market on Monday.

Chartered accountants' apex body ICAI has been raising concerns over the selection process followed by public sector banks (PSBs) with respect to auditors for auditing work at their branches.