Melbourne cab drivers to sue Uber

Melbourne, Oct 19 : Taxi drivers here in Australia are planning to sue ridesharing company Uber for $355 million citing damages and “lost profits”, media reports said on Friday. They are seeking compensation claiming the ride-share company stole their business and ruined their livelihoods, Xinhua news agency reported. The class action law suit claiming Uber […]

China’s GDP grows 6.7% in first 3 quarters

Beijing, Oct 19 : China’s gross domestic product (GDP) grew 6.7 per cent year on year in the first three quarters of 2018 to about 65.09 trillion yuan ($9 trillion), data from the National Bureau of Statistics (NBS) showed on Friday. The growth was in line with market expectations and higher than the government’s annual […]

Global cues, rupee dent equity indices; Sensex down over 400 points

Mumbai, Oct 19 : Broadly negative Asian markets, along with a slightly weak rupee and a marginal rise in global crude oil prices dragged the key domestic equity indices in the red during Friday’s trade session. The Indian rupee opened on a weaker note at 73.62 to a US dollar from its previous close against […]

No mobile phone to be disconnected: Government

New Delhi, Oct 18 : The Centre on Thursday dismissed a news report claiming around 50 crore mobile phone numbers are at risk of disconnection, saying it is “completely untrue and imaginary”. “The news report tries to create unnecessary panic among mobile users by claiming that ‘they stare at a prospect of disconnection if SIM […]

Only registered valuers to value insolvent assets from Feb 2019

New Delhi, Oct 18 : Valuation of assets under insolvency will only be done by valuers registered with the Insolvency and Bankruptcy Board of India (IBBI) from February 1, 2019, the board said in a circular. “Credible determination of value” is a key element for maximisation of the value of distressed assets, which is the […]

ED issues show-cause notice to NDTV for FEMA violation

New Delhi, Oct 18 : The Enforcement Directorate (ED) on Thursday served a show-cause notice on news broadcaster NDTV for allegedly flouting foreign exchange regulations in availing of overseas and foreign direct investment facilities of over Rs 4,300 crore. In a statement, the financial probe agency said: “The investigation showed FEMA (Foreign Exchange Management Act) […]