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World’s largest blue star sapphire ‘found in Sri Lanka’

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The gemology institute in the capital Colombo has certified that the gem weighs 1404.49 carats and say they have not certified anything larger.The gem is valued at least $100m and the current owner estimates that it could sell for up to $175m at auction. Sri Lanka’s gem industry, for which sapphire is the main export, is worth at least £70m ... Read More »

GoAir joins air fare war, offers tickets at Rs 710

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It’s raining discounts this season. After SpiceJet and Jet Airways, now GoAir is offering tickets at discounted fare to cash in on the on-going festive season. The low-cost carrier is offering tickets for as low as Rs 710, excluding taxes. To avail the offer, you must buy the tickets between October 30 and November 2, 2015. The scheme is valid ... Read More »

eBay offers heavy discounts for Diwali

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To cash on the Diwali festival season, eBay India is offering discounts up to 75 per cent in the technology segment. eBay has rolled out ‘Loudest Diwali Ever’ programme with unbeatable deals and flash sales across products and categories. First time users are lured with free movie tickets, free cab ride and dinner for two. All deals and discounts will ... Read More »

Govt mulls raising FDI limit in private banks to 100pc

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New Delhi: Seeking to further relax foreign investment norms, the government is considering to increasing the foreign direct investment (FDI) limit in private banks to 100 per cent, from the existing 74 per cent.The Department of Industrial Policy and Promotion (DIPP) has sent a proposal to hike the FDI limit in the private banking industry to the Department of Financial ... Read More »

Government clears two gold schemes

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The Union Cabinet on Wednesday approved two schemes — the Sovereign Gold Bond Scheme and the Gold Monetisation Scheme — that could bring an estimated 20,000 tonnes of idle gold lying with Indian consumers into the economy and also reduce India’s dependence on gold imports.Through the Gold Monetisation Scheme, gold in any form can be deposited with banks for a ... Read More »

E-commerce industry makes $1.2m revenue in every 30 seconds

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The global e-commerce industry generates over $1.2 million revenue in every 30 seconds with Facebook, Pinterest and Twitter contributing $5,483, $4,504 and $4,308 respectively, reveals a joint study conducted by The Associated Chambers of Commerce and Industry of India (Assocham) and Deloitte.Social networks are contributing significantly to the growth of e-commerce business revenue. The study, which was released on Wednesday, ... Read More »

Ready to launch RE60 once ARAI certification is in: Bajaj Auto

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Awaiting ARAI certification, Pune-based Bajaj Auto says it’s finally ready to roll out its much-delayed quadricycle RE60, with the Supreme Court lifting stay by various high courts over creation of a new vehicle category by the government.Consequent on lifting of the stay orders by the Supreme Court, ARAI (Automotive Research Association of India) has re-started the stalled certification processes; the ... Read More »

Service tax: Air tickets to turn expensive, zoo visits cheaper

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New Delhi: Entry tickets to museums, zoos and tiger reserves would become cheaper, while business class air travel, investment in mutual funds (MFs) and chit funds would become more expensive with some of the service tax proposals announced in the Budget coming into effect from Today. Finance Minister Arun Jaitley had come out with a host of proposals last month ... Read More »

Amazon plans to produce 12 ‘independent’ movies a year

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First the small screen, now the big screen. Amazon’s entertainment ambitions come in all sizes. Amazon Studios announced on Monday that it will significantly expand into movie production by acquiring films for theatrical release and early window streaming through its endowment service, Amazon Prime Instant Video. A key part of the new activity is to shrink what’s historically been a ... Read More »

Non-subsidised gas become too cheaper

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As global oil prices hit a five-and-a-half yeardcline, oil companies effected price cuts for Aviation Turbine Fuel (ATF) and non-subsidised cooking gas on Thursday. While the non-subsidised LPG price was cut by Rs. 43.50 per 14.2 kg cylinder, ATF prices were reduced by 12.5 per cent. “In order to fund the ambitious infrastructure development programme of the government, particularly the ... Read More »