Business

The new policy will replace the 27-year-old existing policy, aims to resolve bottlenecks arising from inadequate infrastructure, restrictive labour laws and complicated business environment.

The shares of L&T Technology Services closed at Rs 1689.80 per share on BSE on Tuesday, 1.03 per cent lower than the previous closing.

The clarification has been given as part of an informal guidance sought by Jindal Steel & Power Ltd (JSPL) regarding the applicability of ICDR (Issue of Capital and Disclosure Requirements) with respect to such warrants.

"The Supreme Court judgement upholding the validity of the IBC is a welcome decision. The Bank defaulters cannot get away for long," Jaitley said.

Japan's largest airline All Nippon Airways (ANA) announced that it is going to start a direct flight from Tokyo to Chennai in winter this year.

The regulator's statement comes amid reports that relaxations have been sought by Gulf carrier Etihad for infusing additional funds into crisis-hit Jet Airways, which is listed on the exchanges.

The refiner will shut a 150,000 bpd crude unit. It will also shut a sulfur recovery unit, hydrocracker, diesel hydrotreater, and coker among others for planned maintenance.

At the Interbank Foreign Exchange (forex) market, the rupee opened higher at 71.22 but came under selling pressure. It finally finished at 71.44 per dollar, down by 16 paise against its previous close.

Overall fourth-quarter sales rose to $20.39 billion from $20.20 billion, also topping the Wall Street estimate of $20.20 billion.

As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India's climb up the rankings is likely to be permanent.

The regulator has barred the airlines from operating the planes to Port Blair since the nearest landing place in case of any emergency is more than one hour away.

Salaries in India are expected to increase 10 per cent in 2019 as compared to 9 per cent last year and inflation-adjusted real-wage hikes are likely to rise to 5 per cent from 4.7 per cent in 2018.

Infosys was also among the top gainers, rising 2.58 per cent, after the company on Friday said it will buyback shares worth up to Rs 8,260 crore and offer shareholders a special dividend of Rs 4 per share as part of the company's Rs 13,000 crore-capital a...

Under the initiative launched by the Pradhan Mantri Awas Yojana-Urban (PMAY-U), the government will hold 'grand expo-cum-conference' in March where stakeholders will showcase their best technologies to build houses.

According to Finance Ministry sources, RBI has cautioned the ministry that the scheme might turn-out to be the next big source of NPAs, which have plagued the banking system.

The multi-brand retail sector remains "most restrictive" to FDI, with a cap of 51 percent ownership. Domestic ratings agency Icra has however said that it is possible for organised and unorganised to co-exist.