BUSINESS
India's first 'dwarf container' train chugs out from JNPT Mumbai
Dwarf containers are 2.16 feet (660 mm) shorter than the conventional ISO containers giving them a huge logistical edge, and can be loaded on trailers which can zip through rural, semi-urbanm and urban areas underneath low subways or level crossings in electrified sections, said an official. Besides, they provide a 67 per cent increase in volume when double-stacked to carry a weight of 71 tonnes.
Sensex, Nifty swing amid global cues; fall sharply after rise
Accordingly, S&P BSE Sensex index fell as much as 490 points to touch 58,525 in first few minutes of trade after markets opened and the broader NSE Nifty50 fell as low as 17,425 points, down 204 points from its previous close. It, however, managed to recoup losses and bounce back into the positive zone -- gaining nearly 200 points at the highest point of the day with Sensex again crossing the mount 59,000.
Monies paid by Amazon in legal fees have been funnelled into bribes: Report
This investigation comes on the back of a whistleblower complaint alleging that certain monies paid by Amazon in legal fees have been funnelled into bribes by one or more of its legal representatives.
Petrol, diesel prices unchanged on Monday
The oil marketing companies (OMCs) on Monday kept pump prices of auto fuels -- petrol and diesel -- unchanged, the 15th consecutive day of no revision, as they preferred to wait and watch the global oil situation before making any revision in prices.
CARS24 raises $450mn, nearly doubles its valuation to $1.84bn
The Series F equity round was led by DST Global, Falcon Edge and SoftBank Vision Fund 2 along with participation from Tencent and existing investors Moore Strategic Ventures and Exor Seeds. With the latest investment, CARS24 plans to expand its global presence as well as further build its cars, bikes and financing business in India, while continuing to invest in technology that delivers the best customer experience possible.
Sensex, Nifty open low on global cues, metal and banks top drag
Accordingly, the S&P BSE Sensex index fell as much as 490 points to touch 58,525 in the first few moments of trade after markets opened and the broader NSE Nifty50 fell as low as 17,425 points, down 204 points from its previous close. Both the benchmark indices have recovered slightly with Sensex rising to 58,859 at 9.53 a.m. while Nifty50 trading at 17,515 points.
'US economic recovery would reverse into recession if debt limit not raised'
"Congress has raised or suspended the country's debt ceiling about 80 times since 1960. Now it must do so again," Xinhua news agency quoted Yellen as saying in a Wall Street Journal op-ed published on Sunday. "If not, sometime in October-it is impossible to predict precisely when-the Treasury Department's cash balance will fall to an insufficient level, and the federal government will be unable to pay its bills," Yellen said, warning failing to raise the debt limit would produce "widespread economic catastrophe".
Govt mulls restructuring Rly operations based on Sanyal committee suggestions
As part of this initiative, a proposal is being considered to merge Rail Vikas Nigam Ltd (RVNL) into the Indian Railways Construction Ltd. (IRCON) and also rolling stock entity Braithwaite and Company Ltd (BCL) with Rail India Technical and Economic Service (RITES). The proposals form part of a set of recommendations given by Sanjeev Sanyal, principal economic advisor in the finance ministry in a report titled Rationalisation of Government Bodies under MoR.
Consumer confidence rally in Sep shows 2% points upswing: Survey
The PCSI Employment Confidence ("Jobs") Sub-Index is up by 1.6 percentage points, the PCSI Economic Expectations ("Expectations") Sub-Index is up by 2.1 percentage points, the PCSI Investment Climate ("Investment") Sub-Index has increased by 2.1 percentage points, and the PCSI Current Personal Financial Conditions ("Current Conditions") Sub-Index has moved up by 2.7 percentage points.
Over 1 crore unorganised workers registered on e-Shram portal
The drive to facilitate registration of unorganized workers on E-Shram portal has received huge attention since its launch on August 26. As of Sunday, 1,03,12,095 workers have registered in the portal. Of these, around 43 per cent are female and 57 per cent are male. The E-Shram portal is generating database of workers from different sectors like construction, apparel manufacturing, fishing etc.
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