Billionaire Mukesh Ambani has overtaken Alibaba Group founder Jack Ma to become Asia's richest person as he positions Reliance Industries Limited (RIL) to disrupt the e-commerce space in India.

Reliance has doubled its petrochemical capacity and is also reaping profits from its newest company Reliance Jio, adding another $4 billion to Ambani’s fortune.

New Delhi: India on Thursday hit back at Pakistan over its comments on the alleged human rights abuse in Kashmir, saying Islamabad must first stop terrorism emanating from its soil.

The Pakistan Foreign Office on Thursday alleged human rights violations in Kashmir. It also raised concern over shifting of woman separatist leader Syeda Aasiya Andrabi to Tihar jail and detention of Hurriyat leaders Shabbir Ahmad Shah and Masarrat Alam Bhat.

Andrabi was arrested by the National Investigating Agency under the Unlawful Activities Prevention Act (UAPA) for allegedly carrying out secessionist activity and waging war against India.

"They sometimes forget that what they preach, they don't follow. Time and again we have told them to stop supporting terrorism, stop supporting terrorist entities, which are operating out of Pakistan. That is something (on which) they have taken no action. Our position on this remains clear and consistent," Ministry of External Affairs spokesperson Raveesh Kumar said in response to a question at a media briefing.

Days after a bridge in Mumbai collapsed on a railway track, the railways yesterday launched its first consolidated Bridge Management System (IR-BMS), a web-enabled IT application to store data on its 1.5 lakh bridges. Railway Minister Piyush Goyal yesterday launched BMS for "meaningful assimilation, analysis and dissemination of information related to various activities" about its bridges, a statement from the national transporter said.

The web-based platform will show the bridge master data, works data, information regarding inspection/monitoring and maintenance of the bridges and other essentials.

Goyal at the launch, also felicitated artists whose work at seven railway stations across the country won them the top prize in the national transporter's in-house station beautification contest.

This innovative competition was organised among zonal railways in December 2017.

NEW DELHI: India’s industrial growth slowed to a seven-month low in May while consumer inflation breached the central bank’s forecast for the first half of the fiscal year, marking twin setbacks for an economy that’s otherwise seen picking up pace this year. To be sure, experts see factory output recovering from here and inflation having peaked. Nevertheless, the key policy rate will likely be raised next month, they said.

Industrial production growth was 3.2% in May, down from 4.7% in the previous month, data released by the government showed. 

The simultaneously released Consumer Price Index (CPI) showed a hardening in retail inflation to 5% in June from 4.87% in the previous month, on the back of buoyant oil and housing prices. This suggests the Reserve Bank of India may raise interest rates in the policy review next month even though experts feel inflation may have peaked. 

“June inflation number is the likely peak we have seen in this fiscal year. Subsequent prints are expected to average below 4.5%,” said Shubhada Rao, group president and chief economist, Yes Bank. 

The Indian Army on Thursday joined hands with the State bank of India (SBI) on the Defence Salary Package, which will include free personal accident death and total disability cover. “A number of additional facilities have been incorporated in the revised Memorandum of Understanding (MoU) which includes free personal accident death cover, free permanent total disability cover and other accidental benefits to the deceased soldier and family.

“This MoU will benefit a large number of serving and retired Army personnel who have their accounts with the SBI,” the Defence Ministry said in a statement. The first MoU between SBI and the Indian Army was signed in 2011 and was renewed in February 2015.

The renewed MoU will be valid till January 3, 2019.

18-year-old Indian runner Hima Das created history on Thursday by becoming the first-ever Indian woman to win an athletics gold on the international stage.

Hailing from Assam’s Nagaon distrist, Hima finished on top of the podium in the women’s 400m event at the IAAF World U20 Championship, clocking 51.46 seconds. This though was still not her personal best.

51.13 is her fastest timed 400m run, a feat she accomplished only recently at the National Inter State Championships in Guwahati. It is now also the Indian U20 national record.

India’s first private sector unit for manufacturing unmanned air vehicles (UAV) and light bullet proof vehicles (LBPV) will be set up by DCM Shriram Industries Group on the campus of Shriram Rayons in Kota.

Shriram Rayons, a company of DCM Shriram Industries Group, manufactures rayon tyrecord in Kota for last 54 years.

“The company on July 5 this year obtained a licence from the centre to manufacture two defence products namely UAV and LBPV,” claimed Vinod Kumar Jaitley, the senior vice president and plant head, Shriram Rayons told HT.

“The UAV and LBPV have been indigenously designed and developed by the DCM Shriram Industries Group,” Jaitley said, adding that Shriram Rayons’ Kota unit, spread in 11 acres, will be the country’s first private sector company to manufacture UAVs and LBPVs. “Total 3000 LBPVs and 500 UAVs will be manufactured annually once the plant is set up and starts its manufacturing,” he said.

Taipei: India bagged three silver medals and a bronze to finish joint third with Iran in the Asia Cup World Ranking Tournament Stage 3 in Taipei on Tuesday.

LONDON: India was today formally announced as the 69th shareholder of the European Bank for Reconstruction and Development (EBRD), paving the way for more joint investment with Indian companies across the bank's regions of operation.

The Indian government had applied for EBRD membership in December 2017.

The EBRD board of governors, which represents all the existing shareholders, voted unanimously in favour of the country's application in March 2018, with the entire membership process completed this week.

"We are very proud and happy to welcome India to our Bank.This day opens a new chapter in our relations, allowing us to build further on already very close ties," said EBRD's Indian-origin president Suma Chakrabarti.

India takes a shareholding in the EBRD but it will not be a recipient of EBRD financing.

In the lead up to the membership, the EBRD held its inaugural business forum in Mumbai last month.

British Prime Minister Theresa May will publish details of her long-awaited Brexit plan today to restart talks with the EU, after facing down a revolt by eurosceptic ministers that could still unseat her.

In a policy paper, the government will outline proposals to allow Britain to maintain close economic and security ties with the European Union even after it leaves the bloc in March.

"It is a vision that respects the result of the referendum (vote to leave), and delivers a principled and practical Brexit," Brexit Secretary Dominic Raab said in the foreword.