Reliance Industries chairman and managing director Mukesh D Ambani expects digital services and organised retail to contribute "meaningfully" to the private sector's consolidated profits even as both these consumer segments will be on a par with its energy and materials business over the next decade.
US commerce secretary Wilbur Ross said on Thursday that Washington has reached a deal with ZTE Corp that would reverse a ban on buying parts from US suppliers, allowing China's No. 2 telecom equipment maker to get back into business.
The Modi-government has decided to stop "late bids" for bankrupt firms under the IBC process and will not allow financial creditors to negotiate with those who stump up high bids after the deadline for submission expires.
The neutral stance by the Reserve Bank of India (RBI) coupled with relaxations given on Wednesday to banks on spreading their bond losses saw the benchmark Sensex surging almost 276 points. This surge came despite the central bank raising the repo rate by 25 basis points.