Fairfax to acquire 51% in Catholic Syrian Bank

Mumbai, February 18 Prem Watsa-owned Fairfax Holdings Ltd will buy 51% stake in Catholic Syrian Bank, the Kerala-based lender said in a statement on Saturday. The deal, which sets the stage for the first ever takeover of a bank by a foreign institution, has been valued at Rs 140 a share — which translates into

US plans stiff curbs on steel imports from India, 11 other countries

Mumbai, February 18 The US Department of Commerce has recommended that President Donald Trump impose steep tariffs on steel imports from India, China and other countries as they could “threaten to impair the national security”, according to the proposals released on Friday. The commerce department recommended a tariff of at least 53% on all steel

Bank fraud case: ED attaches land worth Rs 115 crore of Chennai firm

Mumbai, February 18Mumbai, February 18The Enforcement Directorate on Saturday said it has attached land worth Rs 115 crore of a Chennai-based company in connection with its money laundering probe related to a bank fraud case.The agency said it issued orders, under the Prevention of Money Laundering Act (PMLA), for provisional attachment of 10.46 acres of

After PNB, City Union Bank hit by Rs 12.8 crore fraud

Mumbai, February 18 Days after the Rs 11,400 crore fraud at PNB shook the country, private sector City Union Bank on Saturday said it suffered three fraudulent remittances of nearly $2 million (about Rs 12.8 crore). Just like the fraud at Punjab National Bank (PNB), no entries of remittances were made in the ledgers of

‘Pillownauts’ to help study adverse effects of space travel

Scientists are enlisting the help of ‘pillownauts’ to examine a potentially serious adverse effect of space travel and weightlessness on the human body. A three-day bed rest study is being carried out at the University of Nottingham in the UK along with a 60-day bed rest study by the European Space Agency in France. Bed

Volkswagen Group deliveries grow 10.1 percent in January

Wolfsburg, February 17 The Volkswagen Group handed over 898,700 new vehicles to customers worldwide in the first month of this year. “The Volkswagen Group brands made an excellent start to 2018. There was significant growth in all regions. Overall, worldwide deliveries by the Group grew 10.1 percent in January. That is the best start to

Pune draw halts Bengaluru’s record run

Bengaluru, February 17: FC Pune City stopped Bengaluru FC from registering a record run of six consecutive victories in the Hero Indian Super League as they settled for a 1-1 draw at the Sree Kanteerava Stadium, Bengaluru, on Friday. Bengaluru FC had matched Chennaiyin FC’s five-match winning run of 2015 and were a match away

J&K showing rest of India way on labour reforms, says PM’s Council

Newspoint Bureau JAMMU, Feb 16: Chairman Prime Minister’s Economic Advisory Council Dr. Bibek Debroy today hailed the Jammu and Kashmir government for taking lead in pioneering wide-ranging Labour Law reforms in the State. “While the whole country currently grapples with the issue of Labour Law reforms, J&K Government has taken the lead and is showing