India Finance and Business news

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Cabinet okays sale of govt's 52.63 per cent stake in REC to PFC
The Indian Express The Cabinet Committee on Economic Affairs Thursday approved strategic sale of the Centre's 52.63 per cent stake in Rural Electrification Corporation (REC) to Power Finance Corporation (PFC). The deal, similar to ONGC's purchase of the government's... ---

Google, Amazon and Facebook may use payments data to drive retail sales: Report
Google, Amazon and Facebook may use payments data to drive retail sales: Report Google recently launched the shopping tab on its search engine and Facebook#39;s Instagram will soon bring the shopping feature in India, which is already functional in 46 countries, a company spokesperson told the paper.

ITC To Resume Cigarette Manufacturing
ITC manufactures a range of cigarette brands, including India Kings, Classic, Gold Flake, Navy Cut, Capstan, Bristol, Flake, Silk Cut, which are manufactured at plants in Bengaluru, Munger, Saharanpur...

India seeks to speed up foreign deals with 'one-stop shop'
The Finance Ministry, seeking to speed up deals with outside investors, is set to take full control of the oversight of more than $40 billion a year in foreign direct investments and share purchases, two government sources said.

Since 30 years, permanent peace has eluded J&K
Since 30 years, permanent peace has eluded J&KCasualties among civilians and the security forces have also been comparatively higher. Thirty-seven civilians and 86 security men were killed in 2018 against 36 civilians and 74 security personnel killed last year. According to senior intelligence officers, there are still around 240 militants, including foreigners, who are active in the state.

Sensex, Nifty log 5th session of gains
Mumbai: Buyers dominated the domestic markets as major indices rose over 0.7 per cent, logging their fifth straight session of gains on Monday.The advances were led by financial and energy stocks. Metal, oil and gas, and power stocks gained over 1 per cent.In contrast, IT and Teck (technology, entertainment and media) stocks ended lower."Belying weak global cues, Indian markets continued their upward momentum with the stabilisation of crude oil and rupee, providing more confidence to global investors," said Essel Mutual Fund CIO Viral Berawala. "Markets continue to build on some loosening in monetary policy and measures to push rural spend."The Sensex settled 307.14 points higher at 36,270.07 and the Nifty50 gained 82.90 points or 0.77 per cent to close at 10,888.35.Tata Motors (DVR) closely followed by Tata Motors gained the most among the 30-stock on Sensex.The shares of the automobile major Tata Motors settled over 4 per cent up after news that its subsidiary Jaguar Land Rover will go for cost-cutting measures. Tata Motors was followed by Power Grid, HDFC and Coal India which advanced in the range of 2 to 3.5 per cent.In contrast, Kotak Mahindra Bank lost 2.50 per cent. Infosys and Bharti Airtel lost in the range of 1 to 2 per cent.

Brazil's Embraer says it has finalized deal terms with Boeing
Brazil's Embraer says it has finalized deal terms with BoeingSAO PAULO (Reuters) - Brazil's Embraer said on Monday it had finalized the terms of a proposed deal to sell 80 percent of its commercial aviation business to Boeing .