Business

Food grain output to be record 284.83 million tonnes


New Delhi, Aug 28: Food grain production in the country in 2017-18 crop year will be a record 284.83 million tonnes as per the fourth advanced estimates issued by the Agriculture Ministry on Tuesday.Union Agriculture Minister Radha Mohan Singh said rice output would be 112.91 million tonnes and that of wheat 99.70 million tonnes. I...

Equity indices close at record levels; Sensex inches closer to 39,000 points


Mumbai, Aug 28: Continuing their bull run, key Indian equity indices set fresh benchmarks on Tuesday, with the SP BSE Sensex inching closer to the landmark level of 39,000 points.Both the BSE Sensex and the NSE Nifty50 touched their respective record intra-day highs of 38,938.91 points and 11,760.20 points, before ending the day's trade...

VMware to acquire CloudHealth for multi-Cloud offerings


Las Vegas, Aug 28: VMware, the leading enterprise software provider, has announced that it will acquire CloudHealth Technologies, a company which has over 3,000 global customers on its Cloud operations platform.Making the announcement on the opening day of the annual VMWorld 2018 conference here on Monday, company CEO Pat Gelsinger said that CloudHealth would...

NVIDIA becomes NITI Aayog’s deep learning partner for ‘MoveHack’


Bengaluru, Aug 28: Computer chip manufacturer NVIDIA on Tuesday collaborated with NITI Aayog as its Deep learning technology partner to support the government think-tank's MoveHack which is a global mobility hackathon to crowdsource solutions aimed at the future of mobility in India.The growth of the Indian economy, along with rapid urbanisation, make innovations in...

Toyota investing $500 mn in Uber to boost self-driving cars


San Francisco, Aug 28: In a major boost to the development and deployment of self-driving vehicles, Japanese multinational automotive maker Toyota has announced that it was investing $500 million in ride-hailing giant Uber.The funding from the Japanese car making giant, which values Uber at more than $70 billion, would see the two companies work...

Indian firms lead IT transformation in Asia: Dell EMC


New Delhi, Aug 28: When it comes to IT transformation, 17 per cent of organisations in India have achieved the fully Transformed status -- a much higher percentage than was observed in other Asian countries researched (4 per cent), a Dell EMC study said on Tuesday.Respondents at the transformed companies in India were 8.5...

Steel Minister inaugurates corporate sports policy


New Delhi, Aug 27: In an effort to tap potential medal hopes for the 2024 Paris Olympics, Union Steel Minister Chaudhary Birender Singh launched a corporate sports policy here on Monday.The sports policy is aimed at providing a framework for Central Public Sector Enterprises (CPSE) under the steel ministry for their sports promotion besides...

RBI deadline ends on finalising NPAs’ resolution


Mumbai, Aug 27: A major deadline in the process of resolving the country's most pressing corporate and banking problem of NPAs, or bad loans, is ending on Monday with the RBI having set a six-month time frame for finalising resolution plans for around 70 large stressed accounts worth over Rs 3.8 lakh crore.In a...

RCOM completes sale of fiber assets to RJIO


Mumbai, Aug 27: Reliance Communications (RCOM) has completed the sale of its fiber and related infrastructure assets, worth Rs 3,000 crore, to Reliance Jio Infocomm Limited (RJIO).According to the company, the transaction covers fiber assets of over 178,000 km across India. With the successful completion of the fiber monetisation transaction, 178,000 km of fiber stand...