Families from India hold 14 spots in Forbes Asia’s inaugural ranking of the top 50 Asian business dynasties with the Ambani family third on the list with a combined fortune of $21.5 billion.

Volkswagen plans to withdraw applications seeking US emissions certifications for its 2016 models of Jettas, Golfs, Passats and Beetles with diesel engines, raising the possibility that an emissions-rigging device similar to earlier models is also included in its new cars.

The Reserve Bank of India (RBI) has cut its key lending rate — the repo rate — by 1.25% points since January. Ideally, floating home loan rates should have come down by an identical margin.

Extending gains for the seventh consecutive day, the benchmark BSE Sensex was rose over 84 points in opening deals on across-the-board buying on Thursday, amid a mixed trend at other Asian bourses.

The rupee depreciated 18 paise to 65.13 against the dollar at the Interbank Foreign Exchange in early trade on Thursday on buying of the US currency by importers.

Indian information technology major Wipro has been sued for Rs 12 crore in a sexual harassment case filed by a former employee who was based in London.

Mumbai

 

The $41-billion Aditya Birla Group on Wednesday announced a partnership with the Abraaj Group, a leading investor in global growth markets, to build a large-scale renewable energy platform that will develop utility-scale solar power plants in India.

Delhi high court on Wednesday restrained Glenmark Pharmaceuticals from manufacturing and selling its anti-diabetes drugs Zita and Zita-Met, saying that it has infringed patent of US drug major Merck Sharp and Dohme (MSD).

Engulfed in a major emission-cheating scandal, German auto giant Volkswagen has asked its dealers in India not to deliver its premium hatchback Polo to new buyers till further notice.