GURGAON - Airline Vistara plans to expand its fleet size and start flying to overseas destinations within two years, its CEO said on Tuesday, ahead of an expected change in rules that could allow new carriers to operate abroad.
MUMBAI - The BSE Sensex posted its biggest fiscal-year gain in six in 2014-15 on bets that the Prime Minister Narendra Modi-led government would be able to revive growth in Asia's third-largest economy.
The BSE Sensex will recover from a recent dip to set a record high this year but analysts are less bullish than they were three months ago, a Reuters poll found. The Sensex fell to a 10-week low last week and closed at 27,975.86 on Monday but the poll of 21 analysts taken in the past week forecast it would recover to 29,500 by mid-year and reach a record high of 32,000 by the end of December. Full Article
State Bank of India, the country's largest lender, said on Tuesday it had received approval for divestment of its stake in private life insurer SBI Life Insurance Co Ltd by up to 10 percent. The executive committee of the central board of the bank authorised the divestment on Monday, State Bank of India said in a statement to the exchanges. Full Article
Iran and six world powers ramped up the pace at Tuesday's negotiations over a preliminary deal on the Iranian nuclear programme, as their self-imposed deadline approached and both sides warned it was crucial to overcome differences that could wreck an agreement. Full Article
Heavy rains and a landslide in the Himalayan region of Kashmir killed 17 people, police said on Tuesday, as authorities continued working to rescue stranded villagers, with unseasonal rains raising fears of flash floods in the mountainous north. Full Article
India’s effort to break the old boys’ club is producing bizarre outcomes. Tycoons have responded to a requirement that they have at least one female board member by April 1 by appointing their wives and even stepmothers as directors. India’s corporate governance has room for improvement and gender diversity at the top can improve financial returns. But mandating change isn’t the answer. Full Article
In the early morning of Mar. 26, Saudi Arabia went to war against the Houthi rebels in Yemen. In doing so, Saudi leaders opened the latest chapter in a long history of meddling and influence over their southern neighbor. Since Saudi Arabia was founded in the 1930s, its leaders have tried to keep a friendly regime in power in Yemen and to prevent it from posing a threat to Saudi interests. Opinion
The e-commerce industry in India is expected to cross $100 billion in the next four years. Can designer wear be successful in the medium that attracts many of its users because of discounts? Vikas Purohit, head of fashion at Amazon India, foresees the country’s top designers creating products especially suited to online retail. Full Article
Cinderella marriages are getting to be as rare as golden coaches. Economist Jeremy Greenwood has found that your chances of marrying outside your income bracket have been dropping since the 1950s because of something called assortive mating, which means that we are increasingly drawn to people in similar circumstances. Inequality has grown and mobility has stalled. Commentary
International Business Machines Corp said on Tuesday it will invest $3 billion over the next four years in a new 'Internet of Things' unit, aiming to sell its expertise in gathering and making sense of the surge in real-time data. Full Article