Business

Anil Ambani was summoned as prosecution witness in the 2G case after a court on Friday accepted the CBI petition to summon him.

The Indian telecom services industry is facing a huge debt burden of over $40 billion.

The 30-share Sensex resumed higher and stayed in positive terrain through the day, before settling at 20,128.41.

The apex court directed the Sahara group to comply with its orders or it will ask Subrata Roy to appear before it.

The Direct Taxes Code (DTC) aims to rationalise tax rates to bring more people and companies under the tax net.

RBI on Monday night announced a slew of measures like raising cost of borrowing by banks by 2 per cent to 10.25 per cent.

India has recently reduced its dependence on Iranian oil in the wake of the US and European sanctions on the import of oil from the Islamic Republic.

This is the first time that the index has closed above the 20,000 mark since 20,215.40 on May 30.

Manufacturing sector, which constitutes about 76 per cent of industrial production, shrank 2.0 per cent.

The RBI and the government have been taking steps to arrest the fall in rupee.

The co-operative board of the company will have control with 19 foreign nationals nominated by Etihad, sources added.

Statistical evidence show that cash transfers give people choices which they never thought they would get.

Among losers in the Sensex are Sterlite Industries, Tata Power and SBI.

At present, FDI limit in the sector is at 74 per cent where 49 per cent is done through automatic route.

Fresh dollar demand from importers, mainly oil refiners, and some banks dragged down the rupee to a low of 59.54.

Walmart is already facing a probe by the Enforcement Directorate for alleged violation of FEMA (Foreign Exchange Management Act) norms.