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Interview: Banks Board Bureau chief says it's time for mergers

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NEW DELHI Having bitten the bullet on bad loans, India's state-owned banks now need to merge into half a dozen well-capitalised institutions than can underwrite economic growth, the official overseeing the sector's overhaul said.

Egyptian head of forensics denies reports of explosion on EgyptAir plane - state news

CAIRO Egypt's head of forensics denied reports that an initial examination of human remains belonging to victims aboard the EgyptAir jet that crashed in the Mediterranean pointed towards an explosion, state news agency MENA said on Tuesday.

World, 5:06pm IST

India seeks bids for oil, gas fields in first auction since 2010

MUMBAI India is putting up for auction nearly four dozen small oil and gas fields in the first such sale in six years, the oil ministry said in a newspaper advertisement on Tuesday.

Business 2:31pm IST

India to boost Chabahar port project, links to Afghanistan

BEIRUT Indian Prime Minister Narendra Modi on Monday pledged up to $500 million to develop the southern Iran port of Chabahar, in a move to give his country trade access to Iran, Afghanistan and central Asia.

Business, 11:35am IST

Sensex on track to snap 4 days of losses on corporate results

Indian shares edged higher on Tuesday, heading for their first gain in five sessions after well-received corporate results, including from Tata Power, offset lingering worries about rate hikes by the U.S. Federal Reserve.

Business, 2:09pm IST

SWIFT to unveil new security plan after hackers' heists

LONDON The SWIFT secure messaging service that underpins international banking said on Tuesday it plans to launch a new security programme as it fights to rebuild its reputation in the wake of the Bangladesh Bank heist.

World, Tech 4:19pm IST

Bank of India posts $530 million net loss in fourth quarter

MUMBAI Bank of India , India's third biggest state-run lender by assets, reported a fourth-quarter loss of 35.87 billion rupees ($529.92 million) as it set aside more money to cover a surge in bad loans.

Business 5:12pm IST

More challenges than cheer for Apple chief on Asia tour

MUMBAI/BEIJING With slowing iPhone sales in China, Apple Inc is having to take India more seriously, but investors hoping for a stock price fillip from CEO Tim Cook's week-long Asia trip instead were given a taste of the daunting challenges that lie ahead.

Tech, Business 2:12pm IST

India puts off GM cotton seed order, easing pressure on Monsanto

NEW DELHI India has temporarily withdrawn an order capping royalties on any new variety of genetically-modified (GM) cotton seeds, a government source said on Monday, bringing relief to U.S.-based Monsanto Co, the market's sole supplier.

Business, 4:25am IST

India braces for more heat after temperatures break records

NEW DELHI India was bracing on Monday for another bout of extreme heat after temperatures smashed records in some parts of the country, while weather officials warned against more frequent heat waves.

23 May 2016

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EgyptAir remains point to blast, no explosives traces so far - forensics

CAIRO Human remains retrieved from the crashed EgyptAir flight suggest that there was an explosion on board the plane, although no traces of explosives have been detected, an Egyptian forensics official and investigation sources said on Tuesday.

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India's soybean area seen falling as farmers switch to pulses

MUMBAI Indian farmers are set to reduce the area given over to soybeans by up to 10 percent this year in response to falling prices, pushing up likely imports of edible oils such as palm oil and soyoil.

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Global shares climb as markets play Fed waiting game

LONDON Oil prices fell for a fifth consecutive day on Tuesday and financial markets were volatile as investors wait to see whether U.S. interest rates will be raised next month.

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Financial tech startups compete for overlooked U.S. immigrant market

MEXICO CITY For two decades, Noe Sanchez sent money from California to his father in Mexico City through storefront outlets of traditional remittance firms such as Western Union.

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A suitable coach for the Indian cricket team

The Indian cricket board's experiment with former Indian players as coaches needs to reach its logical conclusion - an Indian head coach. At least, this time the Board of Control for Cricket in India (BCCI) has the luxury of considering someone with credentials such as Rahul Dravid.

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