Business

The BSE Sensex cracked below the 35,000 mark, plunging 713.53 points, or 2 per cent, to close at 34,959.72. Similarly, the broader NSE Nifty fell 205.25 points, or 1.92 per cent, to 10,488.45.

India under the government of Prime Minister Narendra Modi has carried out some really fundamental reforms, said IMF's Chief Economist Maurice Obstfeld.

Mercer (India) CEO Anish Sarkar noted that the trend for the last couple of years has been good in terms of hiring and next year the outlook seems positive.

Oil prices extended their losses on worries that a meeting of Opec and non-Opec producers will not agree to a cut in output. Brent crude, the international benchmark, was trading 0.72 per cent lower at USD 59.63 per barrel.

Despite a few recent advances, the rupee is on track for its worst yearly performance in five years in 2018 and a Reuters poll on Wednesday had forecast it to weaken further.

Executives from Etihad and Jet have met some of the airline's bankers in Mumbai in recent days to discuss ways to address its cash flow issues and evaluate the carrier's future business plan, the sources said.

The new air connectivity between Andhra Pradesh and Singapore would increase Indias reach in south-east Asia and the state would become an aviation gateway between the two prospering regions. It would also boost tourism, the Vice-President said.

Bhushan Pandey exuded confidence that the government will achieve the budgeted target for Goods and Services Tax (GST) collection and said the revenue department is getting inputs about entities which are evading taxes.

Passengers will, instead, have the option to buy meals on board, the airline said in a statement on Monday.

The sale of land, building and other realty assets is part of the government's plan to trim the Rs 55,000 crore debt burden of Air India as this will make the airline competitive.

India has asked the Ethiopian authorities to investigate and help the seven IL&FS employees who were held by local staff due to non-payment of salaries by the debt-laden firm, an Indian government official said on Saturday.

The US has alleged that India was providing substantial market price support for cotton well in excess of India's WTO spending limits.

The People's Daily revealed Ma's Party membership in a list of 100 people it said had helped drive the country "reform and opening up" process. Ma is China's richest man with a fortune of $35.8 billion, according to Forbes.

Late last month, the airline had laid off 20 employees, including some senior-level executives from the in-flight services department. Prior to that, it reportedly had asked 15 managerial level employees from various departments to leave the company.

Closure of the ATMs will impact thousands of jobs and also the the financial inclusion efforts of the government.

The rupee has gained around 1.68 per cent to scale 10-week high levels in the five-day rally since November 13 as foreign funds returned to capital markets and oil prices retreated.