Sahara clinches $850 mn debt deal for foreign hotels: Report

Last Updated: Sunday, June 7, 2015, 20:23

In a relief for the crisis-hit Sahara Group, the Indian company has sealed the sale of its Grosvenor House hotel here and two US properties -- Plaza and Dream Downtown -- in a $850 million debt refinance deal, a local media report said on Sunday.

Sahara seals Rs 5,500 cr debt deal for foreign hotels: Report

Last Updated: Sunday, June 7, 2015, 17:55

Saharas' refinancing arrangements involved getting a fresh loan for the three properties. A part of the proceeds would be given to Bank of China for release of Grosvenor House from "administration", while the remainder could be deposited with Sebi to secure release of Roy and two other top officials from Tihar Jail.

Higher rent, transport allowance in 29 cities

Last Updated: Saturday, May 30, 2015, 15:30

The salaried staff in 23 cities, notably employees of the government and state-run companies, stand to gain in terms of their house rent allowance after an upgrade of their places of stay based on Census 2011. Six cities have been upgraded for travel allowance.

Sahara Group says not bidding for Grosvenor House hotel

Last Updated: Thursday, May 28, 2015, 21:47

With its prized property, Grosvenor House, put on sale by lender Bank of China for a loan 'default', crisis-hit Sahara group Thursday said it is not participating in any re-auctioning of the London hotel.

Sahara enters fray for its own Grosvenor hotel!

Last Updated: Wednesday, May 27, 2015, 14:07

In an interesting turn of events, crisis-hit Sahara has entered the fray for buying its own Grosvenor House hotel, which was put on sale by its lender Bank of China after a 'technical default'.

US House approves bill to end bulk telephone data collection

Last Updated: Thursday, May 14, 2015, 10:44

The bill`s fate is much less certain in the Senate.

Dalal Street veteran Parag Parikh dies in car accident in US

Last Updated: Monday, May 4, 2015, 18:52

Noted investor Parag Parikh, founder of mutual fund house PPFAS, died in a car accident in Omaha in the US on Sunday.

V-Mart to invest Rs 200 cr, add nearly 200 stores in 5 years

Last Updated: Sunday, May 3, 2015, 13:07

The company had a revenue base of Rs 574.96 crore in FY 2013-14. It is, at present, operating 109 stores in 91 cities.

US, Japan make progress in trade talks but no deal seen yet: White House

Last Updated: Saturday, April 25, 2015, 06:11

US and Japanese negotiators have made "substantial progress" toward a deal on a major Pacific free-trade pact but President Barack Obama and Prime Minister Shinzo Abe are not expected to announce a final accord during Abe`s Washington visit next week, the White House said on Friday.

GICs focus on expanding in Tier II and III locations: NASSCOM

Last Updated: Thursday, April 23, 2015, 18:40

IT trade body NASSCOM on Thursday said revenue generated from Indian subsidiaries of global IT companies stood at USD 19 billion in 2014 and these firms were looking at expanding to small cities and towns.

Obamas pay effective federal tax rate of nearly 20%

Last Updated: Saturday, April 11, 2015, 22:24

President Barack Obama and his wife, Michelle, paid more than USD 93,000 in federal taxes last year on an adjusted gross income of more than USD 477,000.

Obama earned $477,000 in 2014 as income continues to lower

Last Updated: Saturday, April 11, 2015, 09:18

President Barack Obama and his wife Michelle earned a gross income of $477,383 in 2014, according to the couple`s tax returns, released by the White House on Friday.