Latest Business News
Business News - Fri, May 25, 2012
How India, Myanmar bilateral trade can flourish
Myanmar is a member of the Asian Clearing Union and settlement of current account transactions including trade transactions are done through ACU.
Myanmar is a member of the Asian Clearing Union and settlement of current account transactions including trade transactions are done through ACU.
Rescuing the rupee: What can be done
'Well, what can be done now, when the economy is tanking? 'Austerity', the officials cry. That would be fine, but austerity by whom? Normally, the answer is: Belt-tightening by the common man (Indians already pay some of the highest prices in the world for petroleum products, and a lot of that is punitive taxes), but ostentatious spending and extravagance by the political classes and their cronies,' says Rajeev Srinivasan.
'Well, what can be done now, when the economy is tanking? 'Austerity', the officials cry. That would be fine, but austerity by whom? Normally, the answer is: Belt-tightening by the common man (Indians already pay some of the highest prices in the world for petroleum products, and a lot of that is punitive taxes), but ostentatious spending and extravagance by the political classes and their cronies,' says Rajeev Srinivasan.
Petrol price rise offers FDI hope to retail chains
The oil companies raised petrol prices by Rs 7.50 on Wednesday, a tough but unpopular decision which many see as a strong signal from the government that it's now stepping on the reform pedal.
The oil companies raised petrol prices by Rs 7.50 on Wednesday, a tough but unpopular decision which many see as a strong signal from the government that it's now stepping on the reform pedal.
Markets flat in afternoon deals
BSE market breadth is positive. Out of 2,544 shares traded, 1,367 shares advanced while 1,060 shares declined.
BSE market breadth is positive. Out of 2,544 shares traded, 1,367 shares advanced while 1,060 shares declined.
Rupee slide: RBI Governor meets Manmohan Singh
Although the rupee has recovered after Thursday's announcement by Subbarao on the possibility of selling dollars directly to oil companies, it had fallen to 56.07 to a dollar in the morning trade, after Thursday's close of 55.65.
Although the rupee has recovered after Thursday's announcement by Subbarao on the possibility of selling dollars directly to oil companies, it had fallen to 56.07 to a dollar in the morning trade, after Thursday's close of 55.65.
Petrol price hike: Delhi govt may provide relief
The chief minister, however, justified the steep hike saying oil companies were incurring huge losses and the hike was necessary. She was on a private visit to Jammu.
The chief minister, however, justified the steep hike saying oil companies were incurring huge losses and the hike was necessary. She was on a private visit to Jammu.
Bihar's industrial town to protest against power shortage
In power starved Bihar, district authority of the state's only industrial town Begusarai has cautioned the state government that the law and order situation could deteriorate if power supply was not improved soon.
In power starved Bihar, district authority of the state's only industrial town Begusarai has cautioned the state government that the law and order situation could deteriorate if power supply was not improved soon.
How to choose a non-resident account
Consider taxation and currency risks before choosing between NRI, NRO and FCNR accounts.
Consider taxation and currency risks before choosing between NRI, NRO and FCNR accounts.
Rupee down 12 paise at 55.77 a dollar; touches 56.07
The rupee's decline was also partly triggered by dollar becoming stronger against other global currencies in the overseas forex markets.
The rupee's decline was also partly triggered by dollar becoming stronger against other global currencies in the overseas forex markets.
Prem Watsa the Indian Warren Buffett goes shopping
V Prem Watsa, the India-born billionaire and promoter-chairman of Toronto-based Fairfax Financial Holdings, a $30-billion plus insurance and investment company, is often referred to as the "Canadian Buffett," a reference to the famous billionaire founder of Berkshire Hathaway, Warren Buffett.
V Prem Watsa, the India-born billionaire and promoter-chairman of Toronto-based Fairfax Financial Holdings, a $30-billion plus insurance and investment company, is often referred to as the "Canadian Buffett," a reference to the famous billionaire founder of Berkshire Hathaway, Warren Buffett.
Price of carbon credits may rebound this year
A recent report by Barclays Capital, the global consultancy firm, forecast the Certified Emission Reduction price to surge 92 per cent in the first half of this year.
A recent report by Barclays Capital, the global consultancy firm, forecast the Certified Emission Reduction price to surge 92 per cent in the first half of this year.
IN PIX: India yet to get these AMAZING electric cars
Take a look at some amazing electric cars.
Take a look at some amazing electric cars.
Cola war out in the field
Coke's latest commercial for the summer opens in a desert with children enjoying a game of cricket despite the blistering heat.
Coke's latest commercial for the summer opens in a desert with children enjoying a game of cricket despite the blistering heat.
Air India's rich 'workmen'
At the heart of the national carrier's troubles are the archaic labour laws that allow pilots the same rights as industrial workers
At the heart of the national carrier's troubles are the archaic labour laws that allow pilots the same rights as industrial workers
Petrol price hike: Bollywood takes to Twitter
Bollywood celebrities took to Twitter to vent their ire over the steepest ever hike in petrol prices.
Bollywood celebrities took to Twitter to vent their ire over the steepest ever hike in petrol prices.
The RISE of the Indian small town
The performance in 2011 (Q4 over Q1), shows that the smaller Indian towns with a population of less than 1 lakh people, led an impressive growth story: 19 per cent in value terms versus 15 per cent in rural India and 12 per cent in the metros.
The performance in 2011 (Q4 over Q1), shows that the smaller Indian towns with a population of less than 1 lakh people, led an impressive growth story: 19 per cent in value terms versus 15 per cent in rural India and 12 per cent in the metros.
Burden on common man would be eased: Cong
UPA ally DMK also opposed the move and demanded withdrawal of the hike.
UPA ally DMK also opposed the move and demanded withdrawal of the hike.
IMAGES: 14 most fuel efficient diesel cars in India
Another factor that works in favour of diesel cars is its 'full-size' mileage, which falls easy on wallet.
Another factor that works in favour of diesel cars is its 'full-size' mileage, which falls easy on wallet.
Business News - Thu, May 24, 2012
The saga of the rupee and why it is falling
The proximate cause is the Budget, with its Black-Swan event of a 50-year rollback and retroactive taxation of deals. This strengthens the notion that India is still a Banana Republic, says rajeev Srinivasan.
The proximate cause is the Budget, with its Black-Swan event of a 50-year rollback and retroactive taxation of deals. This strengthens the notion that India is still a Banana Republic, says rajeev Srinivasan.
Airtel acquires 49% stake in Qualcomm's broadband business
Bharti Airtel on Thursday said it has acquired 49 per cent stake in Qualcomm's broadband wireless access (BWA) business in India for USD 165 million (about Rs 922 crore).
Bharti Airtel on Thursday said it has acquired 49 per cent stake in Qualcomm's broadband wireless access (BWA) business in India for USD 165 million (about Rs 922 crore).
Uttarakhand, Kerala cut petrol prices upto Rs 2/ltr
Prices of crude oil are rising in international market and that India has to import 80 per cent of its crude oil consumption.
Prices of crude oil are rising in international market and that India has to import 80 per cent of its crude oil consumption.
Re rebounds from life-time lows; back to 55-level
This marks a turnaround after rupee's 158-paise plunge in the last three sessions.
This marks a turnaround after rupee's 158-paise plunge in the last three sessions.
'The govt has lost the moral right to rule'
As we spoke to people from various walks of life, they all conveyed their anguish over this 'unreasonable hike' and slammed the government for mismanaging the economy.
As we spoke to people from various walks of life, they all conveyed their anguish over this 'unreasonable hike' and slammed the government for mismanaging the economy.
I-T department issues notice to Rebook India executives
In more trouble for Reebok India, the I-T department has launched a probe into its finances and has begun issuing notices to its executives after an alleged Rs 870-crore (Rs 8.7-billion) fraud case was detected by the company against two of its top officials.
In more trouble for Reebok India, the I-T department has launched a probe into its finances and has begun issuing notices to its executives after an alleged Rs 870-crore (Rs 8.7-billion) fraud case was detected by the company against two of its top officials.
Bangladesh finds new oil reserves in Sylhet
The discovery has boosted morale of officials of the State-run Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), the parent company of Bapex, who are hoping that other oil fields may be found in similar gas fields across the country.
The discovery has boosted morale of officials of the State-run Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), the parent company of Bapex, who are hoping that other oil fields may be found in similar gas fields across the country.
Oil, banking stocks fuel rally, Nifty ends above 4,900
ONGC, Bank of Baroda and HDFC among top gainers
ONGC, Bank of Baroda and HDFC among top gainers
How AI, Kingfisher crisis benefited Jet
The Centre for Asia-Pacific Aviation also expects India's airlines to post a combined loss of a whopping $1.4 billion, with Air India likely to be the 'worst performer' to report a loss of almost the entire amount of $1.3 billion.
The Centre for Asia-Pacific Aviation also expects India's airlines to post a combined loss of a whopping $1.4 billion, with Air India likely to be the 'worst performer' to report a loss of almost the entire amount of $1.3 billion.
Facebook IPO: Morgan Stanley makes $100-mn profit
As the lead underwriter responsible for Facebook's IPO, Morgan Stanley, would receive the largest chunk of those profits arising from stabilising Facebook's stock price, the report said citing a person familiar with the matter.
As the lead underwriter responsible for Facebook's IPO, Morgan Stanley, would receive the largest chunk of those profits arising from stabilising Facebook's stock price, the report said citing a person familiar with the matter.
HP to cut 27,000 jobs in two years to shore up earnings
"As part of the restructuring, HP expects approximately 27,000 employees to exit the company, or 8 per cent of its workforce as of October 31, 2011, by the end of fiscal year 2014," the company said in a statement.
"As part of the restructuring, HP expects approximately 27,000 employees to exit the company, or 8 per cent of its workforce as of October 31, 2011, by the end of fiscal year 2014," the company said in a statement.
Rs fall to have limited benefit for exports
But weak global demand, costly imports play spoilsport
But weak global demand, costly imports play spoilsport
New Sebi norms to hit real estate funds
Early this week, Sebi notified AIF regulations for private equity, hedge funds, venture capital funds and real estate funds, among others.
Early this week, Sebi notified AIF regulations for private equity, hedge funds, venture capital funds and real estate funds, among others.
Rupee-dollar fluctuation a scam, alleges BJP
BJP National Secretary Kirit Somaiya alleged the current rupee dollar fluctuation was a major scam and it needed to be investigated by an expert group on a par with special investigation team.
BJP National Secretary Kirit Somaiya alleged the current rupee dollar fluctuation was a major scam and it needed to be investigated by an expert group on a par with special investigation team.
Who pays the highest and lowest for petrol in India
Petrol prices in India are amongst the highest in the world.
Petrol prices in India are amongst the highest in the world.
Higher oil prices or higher EMIs? Take your pick
A higher government borrowing will 'crowd-out' the private borrowing and push interest rates higher.
A higher government borrowing will 'crowd-out' the private borrowing and push interest rates higher.
First test flight of Dreamliner for AI successful
A new Boeing 787 Dreamliner aircraft -- which is to be delivered to Air India -- has successfully completed its first test flight in South Carolina, the plane manufacturing company has said.
A new Boeing 787 Dreamliner aircraft -- which is to be delivered to Air India -- has successfully completed its first test flight in South Carolina, the plane manufacturing company has said.
IMAGES: Former Yahoo CEO's amazing home on sale!
Former Yahoo! CEO Terry Semel is planning to sell his magnificent sea facing mansion in Malibu.
Former Yahoo! CEO Terry Semel is planning to sell his magnificent sea facing mansion in Malibu.
Telecom industry warns of mobile tariff hike
The Association of Unified Telecom Service Providers of India, the CDMA operators' body, said mobile services could become dearer by 28 paisa per minute if the recommendations by the Telecom Regulatory Authority of India are accepted in their current form.
The Association of Unified Telecom Service Providers of India, the CDMA operators' body, said mobile services could become dearer by 28 paisa per minute if the recommendations by the Telecom Regulatory Authority of India are accepted in their current form.
Mitsubishi surprises Biyani, wants stake in Big Bazaar
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
Sources familiar with the development said the Japanese giant had made it a pre-condition to invest in Future Group's food sourcing and back-end infrastructure.
Bengal decides to repeal SEZ Act; Infosys, Wipro in a fix
West Bengal on Wednesday decided to repeal the Special Economic Zone (SEZ) Act, 2003, clearing the road for other incentive schemes the Mamata Banerjee-led government is likely to announce over the next few weeks.
West Bengal on Wednesday decided to repeal the Special Economic Zone (SEZ) Act, 2003, clearing the road for other incentive schemes the Mamata Banerjee-led government is likely to announce over the next few weeks.
Despite stalled reforms, FDI inflows rise 34% in 2011-12
In 2011-12, FDI rose 34.4 per cent to $46.84 billion, compared with $34.84 billion in 2010-11 and $37.74 billion in 2009-10, according to data from the Department of Industrial Policy and Promotion.
In 2011-12, FDI rose 34.4 per cent to $46.84 billion, compared with $34.84 billion in 2010-11 and $37.74 billion in 2009-10, according to data from the Department of Industrial Policy and Promotion.
Warren Buffet firm's Gujarat project hangs in balance
The fate of US $ 245-million (approx. Rs 1,356 crore at current exchange rates) chlorinated polyvinyl chloride (CPVC) unit, proposed to be set up through a joint venture between billionaire investor Warren Buffet's firm, Lubrizol Corporation and Ahmedabad-based Astral Poly Technik Ltd, is hanging in the balance as there is no progress on the project since the announcement was made in September last year.
The fate of US $ 245-million (approx. Rs 1,356 crore at current exchange rates) chlorinated polyvinyl chloride (CPVC) unit, proposed to be set up through a joint venture between billionaire investor Warren Buffet's firm, Lubrizol Corporation and Ahmedabad-based Astral Poly Technik Ltd, is hanging in the balance as there is no progress on the project since the announcement was made in September last year.
Auto demand to be further skewed towards DIESEL
The domestic car market, which sees sales of almost one diesel car for every petrol car sold, will see demand for diesel-powered cars to hit the roof.
The domestic car market, which sees sales of almost one diesel car for every petrol car sold, will see demand for diesel-powered cars to hit the roof.
Business News - Wed, May 23, 2012
Petrol price hike evokes mixed reactions from industry
The steep hike in petrol prices evoked mixed reactions with a section of industry saying the move would further burden the comman man even as policy makers and experts felt the increase would benefit the economy in the long run.
The steep hike in petrol prices evoked mixed reactions with a section of industry saying the move would further burden the comman man even as policy makers and experts felt the increase would benefit the economy in the long run.
Petrol price hiked by a massive Rs 7.54/litre
With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy said on Tuesday there was an immediate need to raise fuel prices.
With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy said on Tuesday there was an immediate need to raise fuel prices.
Petrol price hike is 'unjust and unilateral': Mamata
Banerjee, the chief of Trinamool Congress, the second major partner of UPA government, however, said her party would not topple the government.
Banerjee, the chief of Trinamool Congress, the second major partner of UPA government, however, said her party would not topple the government.
Petrol hike to hit inflation in the short run: PlanCom
Attributing the steep hike in petrol prices to declining value of rupee, Planning Commission on Wednesday said it will have immediate impact on the price situation but things will stabilise in the long run.
Attributing the steep hike in petrol prices to declining value of rupee, Planning Commission on Wednesday said it will have immediate impact on the price situation but things will stabilise in the long run.
This is what petrol will COST in the 4 metros
This is the steepest ever hike in rates.
This is the steepest ever hike in rates.
Facebook's much-hyped IPO under scrutiny
Facebook's much-hyped IPO has hit the headlines for the wrong reasons.
Facebook's much-hyped IPO has hit the headlines for the wrong reasons.
Petrol price hike 'unreasonable': BJP
Petrol price hike will have a cascading effect and prices are going to go out of control.
Petrol price hike will have a cascading effect and prices are going to go out of control.
Government ready for unconditional talks with Air India pilots: Ajit Singh
Ajit Singh, Minister for Civil Aviation has asked the striking pilots of Air India to restore the conditions before going on illegal strike in order to press for their demands.
Ajit Singh, Minister for Civil Aviation has asked the striking pilots of Air India to restore the conditions before going on illegal strike in order to press for their demands.
Rupee sinks to new low on Wednesday
Commerce and Industry Minister Anand Sharma on wednesday said the Reserve Bank of India would have to step in to stem the downslide of rupee.
Commerce and Industry Minister Anand Sharma on wednesday said the Reserve Bank of India would have to step in to stem the downslide of rupee.
China's mobile connections hit record 1.03 billion
During the first four months, mobile phone users saw a net increase of nearly 43.8 million, data of the Ministry of Industry and Information Technology in Beijing said.
During the first four months, mobile phone users saw a net increase of nearly 43.8 million, data of the Ministry of Industry and Information Technology in Beijing said.
'Rupee depreciation is a key risk to FII flows'
Jayesh Gandhi, executive director, Morgan Stanley Investment Management in an interview with Business Standard, says Indian equities continue to remain a long-term bull story based on the growth prospect for the country and, hence, in a way cannot be ignored by global investors.
Jayesh Gandhi, executive director, Morgan Stanley Investment Management in an interview with Business Standard, says Indian equities continue to remain a long-term bull story based on the growth prospect for the country and, hence, in a way cannot be ignored by global investors.
Policy paralysis perception can be corrected by reality: PM
Samajwadi Party supremo Mulayam Singh Yadav seemed the happiest at the dinner hosted by Prime Minister Manmohan Singh to celebrate the beginning of the ninth year of the United Progressive Alliance government.
Samajwadi Party supremo Mulayam Singh Yadav seemed the happiest at the dinner hosted by Prime Minister Manmohan Singh to celebrate the beginning of the ninth year of the United Progressive Alliance government.
Bengal exhausts one fourth borrowing in 2 months
So far, the West Bengal government has raised Rs 5,000 crore (Rs 50 billion) as SDL from RBI, which is almost one-fourth of its total borrowing plans of Rs 20,071 crore (Rs 200.71 billion).
So far, the West Bengal government has raised Rs 5,000 crore (Rs 50 billion) as SDL from RBI, which is almost one-fourth of its total borrowing plans of Rs 20,071 crore (Rs 200.71 billion).
COLUMN: The 'rights' and 'wrongs' of a controversial Bill
The Supreme Court denies the Copyright Board the power to grant temporary licences.
The Supreme Court denies the Copyright Board the power to grant temporary licences.
Rupee, weak global cues drag markets
The market breadth on BSE ended weak with 1,616 shares declined and 1,097 shares advanced.
The market breadth on BSE ended weak with 1,616 shares declined and 1,097 shares advanced.
Japanese investors face land, infra hurdles in India
The report, to be released in Japan at the India-Japan Business Summit on the completion of 60 years of diplomatic relations, has termed infrastructure as the biggest bottleneck that has threatened the sustainability of India's economic growth.
The report, to be released in Japan at the India-Japan Business Summit on the completion of 60 years of diplomatic relations, has termed infrastructure as the biggest bottleneck that has threatened the sustainability of India's economic growth.
Image: Top 30 most valuable global brands
The world's leading brands have continued to grow in value despite the current economic uncertainty, according to WPP company Millward Brown's annual BrandZ top 100 most valuable global brands study.
The world's leading brands have continued to grow in value despite the current economic uncertainty, according to WPP company Millward Brown's annual BrandZ top 100 most valuable global brands study.
Rupee breaches the 56-mark against dollar
The local currency, which had plunged to an all-time low of 55.39 on Tuesday, crashed to 55.82 at the Interbank Foreign Exchange market in early trade.
The local currency, which had plunged to an all-time low of 55.39 on Tuesday, crashed to 55.82 at the Interbank Foreign Exchange market in early trade.
B-school faculty salaries also take a hit
At the Indian School of Business, Hyderabad, the depreciation of rupee is making it difficult for the institute to offer attractive salary to faculty members it recruits internationally.
At the Indian School of Business, Hyderabad, the depreciation of rupee is making it difficult for the institute to offer attractive salary to faculty members it recruits internationally.
COLUMN: What is India's real growth potential?
The nine per cent growth of United Progressive Alliance-I was an aberration.
The nine per cent growth of United Progressive Alliance-I was an aberration.
Falling rupee spells fresh TROUBLE for airlines
Lease and maintenance rentals of aircraft, salaries to expatriate pilots, parking and landing rates at international airports and jet fuel prices are all dollar-denominated costs.
Lease and maintenance rentals of aircraft, salaries to expatriate pilots, parking and landing rates at international airports and jet fuel prices are all dollar-denominated costs.
'Investment pact can't apply to 2G licence cancellations'
Says action taken following Supreme Court order, not because of government decision
Says action taken following Supreme Court order, not because of government decision
IMAGES: Stunning bridges in France
The Millau Viaduct is a cable-stayed road-bridge that spans the valley of the river Tarn near Millau in southern France.
The Millau Viaduct is a cable-stayed road-bridge that spans the valley of the river Tarn near Millau in southern France.
Dell Q1 net profit down nearly 33% at $635 mn
The company's revenues also slipped four per cent to $14.42 billion in Q1 FY'13 from $15.01 billion in 2012.
The company's revenues also slipped four per cent to $14.42 billion in Q1 FY'13 from $15.01 billion in 2012.
Striking pilots: Air India files contempt petition in Delhi HC
Air India on Wednesday filed a contempt petition against striking pilots in the Delhi High Court on grounds that the agitators have failed to comply with its previous order restraining them from undertaking the stir.
Air India on Wednesday filed a contempt petition against striking pilots in the Delhi High Court on grounds that the agitators have failed to comply with its previous order restraining them from undertaking the stir.
India's airlines: Here are the best performers
India's air traffic continued to rise in April.
India's air traffic continued to rise in April.
How India can curb the menace of black money
The true lesson of the White Paper should be that there are no quick fixes for what has been a major scourge of the Indian economy for several decades.
The true lesson of the White Paper should be that there are no quick fixes for what has been a major scourge of the Indian economy for several decades.
FII gains evaporate as dollar turns too hot for rupee
Several stocks cheaper in dollar terms now than in March 2009 when Sensex was below 9,000; FIIs in Coal India IPO stare at losses.
Several stocks cheaper in dollar terms now than in March 2009 when Sensex was below 9,000; FIIs in Coal India IPO stare at losses.
IMAGES of the world's tallest residential building
Towering over the Dubai Marina skyline at 414 metres from base to tip, Princess Tower has been recognised by the Guinness World Records as the world's tallest residential building.
Towering over the Dubai Marina skyline at 414 metres from base to tip, Princess Tower has been recognised by the Guinness World Records as the world's tallest residential building.
Motorola CEO Sanjay Jha steps down
Jha, who revived Motorola's Mobile Devices business and led the company through this acquisition, has stepped down as CEO, although he will continue to work with Google to help ensure a smooth transition.
Jha, who revived Motorola's Mobile Devices business and led the company through this acquisition, has stepped down as CEO, although he will continue to work with Google to help ensure a smooth transition.
IMAGES: Fiat Punto and its 4 closest rivals
The Italian hot hatch with its high-end features along with powerful and refined engine choices poses serious challenge to premium car makers of India.
The Italian hot hatch with its high-end features along with powerful and refined engine choices poses serious challenge to premium car makers of India.
Business News - Tue, May 22, 2012
Google acquires Motorola Mobility, CEO Sanjay Jha quits
The acquisition will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing.
The acquisition will enable Google to supercharge the Android ecosystem and will enhance competition in mobile computing.
Why your 'chai' is getting costlier
Irregular rain, input cost pressure prompt price rises by some firms; others to follow.
Irregular rain, input cost pressure prompt price rises by some firms; others to follow.
Immediate need to hike fuel prices: Oil Ministry
With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy on Tuesday said there is an immediate need to raise fuel prices, but refused to say when the hike will actually take place.
With rupee depreciation leading to jump in oil import bill, Petroleum Minister S Jaipal Reddy on Tuesday said there is an immediate need to raise fuel prices, but refused to say when the hike will actually take place.
Rupee fall: RBI intervention when needed, says FM
The Indian rupee slid to a fresh low of Rs 55.32 against the US dollar in the afternoon trade on Tuesday as foreign funds pulled out from emerging markets avoiding risky assets.
The Indian rupee slid to a fresh low of Rs 55.32 against the US dollar in the afternoon trade on Tuesday as foreign funds pulled out from emerging markets avoiding risky assets.
'India to grow at 7.7% in 2013'
According to the Organisation for Economic Cooperation and Development's latest Economic Outlook, India's growth rate is likely to slow to 7.1 per cent in 2012 from 7.3 per cent in 2011, but would inch up to 7.7 per cent in 2013.
According to the Organisation for Economic Cooperation and Development's latest Economic Outlook, India's growth rate is likely to slow to 7.1 per cent in 2012 from 7.3 per cent in 2011, but would inch up to 7.7 per cent in 2013.
He sells jets to India's rich and famous
Nigel loves luxury. A big golf enthusiast he also likes to run, play squash and drive his classic sports cars.
Nigel loves luxury. A big golf enthusiast he also likes to run, play squash and drive his classic sports cars.
2 NRIs jailed for UK visa scam
This documentation was then used to support applications to stay in the UK as highly skilled migrants.
This documentation was then used to support applications to stay in the UK as highly skilled migrants.
IMAGES: Bumpy road ahead for the new Merc
Does the all-new Mercedes-Benz ML350 CDI, launched two days ago, get it spot on?
Does the all-new Mercedes-Benz ML350 CDI, launched two days ago, get it spot on?
Weakening rupee drags market
The overall breadth was negative as 1,566 stocks declined while 1,083 stocks advanced.
The overall breadth was negative as 1,566 stocks declined while 1,083 stocks advanced.
Vodafone's India business profit up 14 per cent
British telecom giant Vodafone Group on Tuesday posted 14 per cent growth in operating earnings from India's business to 1.12 billion pounds (about Rs 9,749 crore) for 2011-12 helped by rising customer base and strong growth in voice-call minutes.
British telecom giant Vodafone Group on Tuesday posted 14 per cent growth in operating earnings from India's business to 1.12 billion pounds (about Rs 9,749 crore) for 2011-12 helped by rising customer base and strong growth in voice-call minutes.
Opposition express concern over Air India strike
Expressing concern over the on-going strike of Air India pilots, Opposition today demanded "bold initiatives" from the government to end the impasse and demanded a response from Civil Aviation Minister Ajit Singh.
Expressing concern over the on-going strike of Air India pilots, Opposition today demanded "bold initiatives" from the government to end the impasse and demanded a response from Civil Aviation Minister Ajit Singh.
Textiles: Job cuts continue; small units facing closures
The industry has requested the Reserve Bank of India for restructuring of loans, the chairman said. According to estimates, the sector has a loan burden of about Rs 1 lakh crore (Rs 1 trillion).
The industry has requested the Reserve Bank of India for restructuring of loans, the chairman said. According to estimates, the sector has a loan burden of about Rs 1 lakh crore (Rs 1 trillion).
IN PIX: Meet 5 highest paid CEOs of the US
For the fifth year, the Wall Street Journal partnered with Hay Group, a global management consulting firm, on its annual survey of CEO Compensation.
For the fifth year, the Wall Street Journal partnered with Hay Group, a global management consulting firm, on its annual survey of CEO Compensation.
Is US living on borrowed money? Its debt = $15 trillion
The United States public debt is the money borrowed by the federal government of the United States at any one time through the issue of securities by the Treasury and other federal government agencies.
The United States public debt is the money borrowed by the federal government of the United States at any one time through the issue of securities by the Treasury and other federal government agencies.
White paper on black money: The full story
The 97-page document tabled by Finance Minister Pranab Mukherjee made a strong case for setting up Lokpal and Lokayuktas. Though, there was no was mention of government's estimate of black money within and outside the country, it pitched for courts to expeditiously deal with the offence.
The 97-page document tabled by Finance Minister Pranab Mukherjee made a strong case for setting up Lokpal and Lokayuktas. Though, there was no was mention of government's estimate of black money within and outside the country, it pitched for courts to expeditiously deal with the offence.
Why is Nandan Nilekani talking about plumbing?
Government is tougher than the private sector -- but transformative, says UPA's highly visible ex-CEO.
Government is tougher than the private sector -- but transformative, says UPA's highly visible ex-CEO.
A different war at Wagah, on the trade clamps
Business on both sides ready to move into a completely new era, as India and Pakistan begin freeing the genie, maybe, hopefully, irreversibly
Business on both sides ready to move into a completely new era, as India and Pakistan begin freeing the genie, maybe, hopefully, irreversibly
Thomas Cook sells Indian arm stake to Fairbridge
UK-based travel services provider Thomas Cook Group plc will sell for Rs 817.4 crore (Rs 8.17 billion) its entire 77 per cent holding in the Indian arm to Fairbridge Capital (Mauritius) Ltd, a subsidiary of Fairfax Financial Holdings.
UK-based travel services provider Thomas Cook Group plc will sell for Rs 817.4 crore (Rs 8.17 billion) its entire 77 per cent holding in the Indian arm to Fairbridge Capital (Mauritius) Ltd, a subsidiary of Fairfax Financial Holdings.
'Rajat Gupta threw away his duties'
The trial of Gupta, one of the most high profile Wall Street executives to be charged with insider trading, began in US District Court, Southern District of New York on Monday amid intense media glare.
The trial of Gupta, one of the most high profile Wall Street executives to be charged with insider trading, began in US District Court, Southern District of New York on Monday amid intense media glare.
Capital flows to decide fate of rupee: RBI
The Reserve Bank of India (RBI) on Monday said capital flows would determine where the Indian currency was headed. The rupee has fallen 4.3 per cent against the dollar since the month began, despite RBI's intervention and administrative measures.
The Reserve Bank of India (RBI) on Monday said capital flows would determine where the Indian currency was headed. The rupee has fallen 4.3 per cent against the dollar since the month began, despite RBI's intervention and administrative measures.
COLUMN: It's not Greek, Mr Mukherjee
There hasn't been a single confidence boosting measure by the government in the recent years.
There hasn't been a single confidence boosting measure by the government in the recent years.
Premji says his son Rishad may succeed him eventually
An MBA from Harvard Business School with work experiences in global firms like Bain Consulting and GE, Rishad joined Wipro in July 2007 as a business manager in the banking and finance division.
An MBA from Harvard Business School with work experiences in global firms like Bain Consulting and GE, Rishad joined Wipro in July 2007 as a business manager in the banking and finance division.
Get savings account at click of a mouse
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
ICICI Bank, the largest private sector lender in the country, is offering an 'instant account number' if you apply for a savings deposit account through its website.
Now, mobile remittances transfer from UAE to India
This is the first time a bank has introduced a real-time international account to account money transfer service via mobile phones anywhere in the world, a statement here said.
This is the first time a bank has introduced a real-time international account to account money transfer service via mobile phones anywhere in the world, a statement here said.
Is Biocon GUILTY of accounting fraud?
Biotech company denies all charges.
Biotech company denies all charges.
IMAGES: How thieves steal crude oil in Nigeria
The underground industry is estimated to be worth hundreds of millions of dollars a year.
The underground industry is estimated to be worth hundreds of millions of dollars a year.
Images: World's 10 most popular metro systems
A rapid transit, underground, subway, elevated railway, metro or metropolitan railway system is an electric passenger railway in an urban area. They are either located underground or on elevated rails above street level. Across the world, metros are considered as cheapest and fastest mode of transport.
A rapid transit, underground, subway, elevated railway, metro or metropolitan railway system is an electric passenger railway in an urban area. They are either located underground or on elevated rails above street level. Across the world, metros are considered as cheapest and fastest mode of transport.
Business News - Mon, May 21, 2012
Women bosses 'less funny in boardroom'
The study carried out by linguistics expert Judith Baxter from Aston University, Birmingham found that more than 80 per cent of quips made by senior female figures were met with silence, with 70 per cent portraying themselves in a modestly negative light.
The study carried out by linguistics expert Judith Baxter from Aston University, Birmingham found that more than 80 per cent of quips made by senior female figures were met with silence, with 70 per cent portraying themselves in a modestly negative light.
US visa fee hike: India to move WTO this week
As per the procedure of World Trade Organisation, consultation is the first stage of a complaint filed with the global trade body.
As per the procedure of World Trade Organisation, consultation is the first stage of a complaint filed with the global trade body.
UK visa: Indians to be screened for TB
Indian citizens besides those from 66 other "high risk" countries seeking to enter Britain for over six months will need to be screened for tuberculosis before they are granted a visa, the Home Office said.
Indian citizens besides those from 66 other "high risk" countries seeking to enter Britain for over six months will need to be screened for tuberculosis before they are granted a visa, the Home Office said.
Rupee tumbles to all-time low of 54.99
Forex dealers said fresh dollar demand from banks and particularly, month-end demand from oil importers despite weakness of the dollar in the overseas market pulled down the rupee.
Forex dealers said fresh dollar demand from banks and particularly, month-end demand from oil importers despite weakness of the dollar in the overseas market pulled down the rupee.
FM tables white paper on black money
It has also suggested tax incentives for encouraging use of debit and credit cards as these leave audit trails.
It has also suggested tax incentives for encouraging use of debit and credit cards as these leave audit trails.
Foxconn to set up $210-million plant in China
Foxconn Technology Group will invest $210 million to build an Apple production line in October in east China's Jiangsu province, local officials said.
Foxconn Technology Group will invest $210 million to build an Apple production line in October in east China's Jiangsu province, local officials said.
Markets end flat amid weakening rupee
The overall breadth was positive as 1,643 stocks advanced while 1,027 stocks declined.
The overall breadth was positive as 1,643 stocks advanced while 1,027 stocks declined.
White paper on black money: Is it enough?
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
SPECIAL: How does the external value of the rupee matter?
The depreciating Indian rupee creates new opportunities.
The depreciating Indian rupee creates new opportunities.
Concern in Par over AI pilots' strike
Concern was voiced in Parliament today over ongoing strike by Air India pilots which has been going on for two weeks with members alleging that the extreme "arrogance" by the government was not helping resolve the matter even as the national carrier had lost Rs 300 crore.
Concern was voiced in Parliament today over ongoing strike by Air India pilots which has been going on for two weeks with members alleging that the extreme "arrogance" by the government was not helping resolve the matter even as the national carrier had lost Rs 300 crore.
Is it too early to judge Facebook's performace?
Founded in 2004, by Mark Zuckerberg, 28, the technology company, announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share.
Founded in 2004, by Mark Zuckerberg, 28, the technology company, announced the pricing of its initial public offering of 421,233,615 shares of its common stock at a price to the public of $38 per share.
COLUMN: The exchange rate: economics bites back
After the presentation of the Union Budget in mid-March, the rupee has been again jittery and anaemic, dropping to an all-time low of 54.9 on May 18, raising serious concerns in both the media and Parliament.
After the presentation of the Union Budget in mid-March, the rupee has been again jittery and anaemic, dropping to an all-time low of 54.9 on May 18, raising serious concerns in both the media and Parliament.
Govt favours suggestion to export 2 million ton wheat
The food ministry has supported the suggestion of Rangarajan panel to allow export of 2 million tons of wheat from government stocks immediately to ease pressure on storages, the Rajya Sabha was informed on Monday.
The food ministry has supported the suggestion of Rangarajan panel to allow export of 2 million tons of wheat from government stocks immediately to ease pressure on storages, the Rajya Sabha was informed on Monday.
Black money: White Paper for setting of Lokpal
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
The White Paper, which was tabled by Finance Minister Pranab Mukherjee in the Lok Sabha, also did not provide government's estimate of black money, within and outside the country, though it quoted various estimates of other agencies on the issue.
US visa probe on Indian cos: Nasscom concerned
India's IT services industry body National Association for and Services Companies has expressed concern over recent probe by the US against some Indian companies, including country's second largest software exporter Infosys, on allegations of violating visa norms.
India's IT services industry body National Association for and Services Companies has expressed concern over recent probe by the US against some Indian companies, including country's second largest software exporter Infosys, on allegations of violating visa norms.
Images: World's top five IT outsourcing firms
Worldwide IT outsourcing (ITO) revenue totalled $246.6 billion in 2011, a 7.8 percent increase from 2010 revenue of $228.7 billion, according to Gartner, world's leading information technology research and advisory company.
Worldwide IT outsourcing (ITO) revenue totalled $246.6 billion in 2011, a 7.8 percent increase from 2010 revenue of $228.7 billion, according to Gartner, world's leading information technology research and advisory company.
SPECIAL: Unravelling the Greek tragedy
A debt overhang can last generations.
A debt overhang can last generations.
Economics will dominate China, India ties: Expert
Economics will dominate the future relationship between China and India and it will be characterised by competition and collaboration simultaneously, says an official of ISAS.
Economics will dominate the future relationship between China and India and it will be characterised by competition and collaboration simultaneously, says an official of ISAS.
India-born Suma Chakrabarti to head European development bank
India-born Suma Chakrabarti will succeed Germany's Thomas Mirow as the President of the European Bank for Reconstruction and Development (EBRD), which has been supporting economic transition in former Eastern Bloc countries and Soviet republics for the last two decades.
India-born Suma Chakrabarti will succeed Germany's Thomas Mirow as the President of the European Bank for Reconstruction and Development (EBRD), which has been supporting economic transition in former Eastern Bloc countries and Soviet republics for the last two decades.
COLUMN: Why the rupee is likely to hit 60/UD$
The sharp and sudden fall in the exchange rate of the Indian currency in relation to the American greenback has taken many by surprise.
The sharp and sudden fall in the exchange rate of the Indian currency in relation to the American greenback has taken many by surprise.
Joint property ownership isn't a hurdle to tax benefit
If property is purchased by one person, he/she will get the full tax exemption. If bought together, proportionate exemption is allowed
If property is purchased by one person, he/she will get the full tax exemption. If bought together, proportionate exemption is allowed
IMAGES: Dream limousines that you will love to own
Some stunning limousines that are sure to catch eyeballs.
Some stunning limousines that are sure to catch eyeballs.
Images: The Rs 7.36 lakh Fiat Grande Punto is here!
Fiat India has added a sports edition model to their hatchback model lineup.
Fiat India has added a sports edition model to their hatchback model lineup.
UAE wants forex-violation notice to Etisalat dropped
Emirates Telecommunications Corporation (Etisalat) has made a representation through the UAE government to request the Enforcement Directorate to withdraw a showcause notice over alleged violations of the Foreign Exchange Management Act (FEMA), insofar as it relates to the company and its directors on the board of its Indian joint venture Etisalat-DB Ltd. The UAE (United Arab Emirates) government owns 60 per cent of the Etisalat group.
Emirates Telecommunications Corporation (Etisalat) has made a representation through the UAE government to request the Enforcement Directorate to withdraw a showcause notice over alleged violations of the Foreign Exchange Management Act (FEMA), insofar as it relates to the company and its directors on the board of its Indian joint venture Etisalat-DB Ltd. The UAE (United Arab Emirates) government owns 60 per cent of the Etisalat group.
Why Piramal Healthcare is like Berkshire Hathaway
Piramal is pragmatic when he says he's equally clear the conglomerate approach may not be beneficial in the long run. "It's not that we are married to the idea of having everything together permanently."
Piramal is pragmatic when he says he's equally clear the conglomerate approach may not be beneficial in the long run. "It's not that we are married to the idea of having everything together permanently."
Top private life insurers shut 1,500 branches in 2 years
With "profitable growth" replacing "expansion drive" as the buzzword in the sector, the country's top private life insurers have significantly reduced branches and employees over the last couple of years to cut costs and improve efficiency.
With "profitable growth" replacing "expansion drive" as the buzzword in the sector, the country's top private life insurers have significantly reduced branches and employees over the last couple of years to cut costs and improve efficiency.
IMAGES: World's 10 most underrated cities
These cities have a unique charm complete with beautiful locales, history and culture. Yet, they tend to be overlooked by many travellers or are just considered as stopovers.
These cities have a unique charm complete with beautiful locales, history and culture. Yet, they tend to be overlooked by many travellers or are just considered as stopovers.
Business News - Sun, May 20, 2012
Ajit Singh to meet leaders of 13 AI unions on Monday
As the stir by over 200 Air India pilots entered the 13th day on Sunday, Civil Aviation Minister Ajit Singh said the unions have to look at the health of their organisation and understand that this is an era of competition.
As the stir by over 200 Air India pilots entered the 13th day on Sunday, Civil Aviation Minister Ajit Singh said the unions have to look at the health of their organisation and understand that this is an era of competition.
Business News - Sat, May 19, 2012
Aditya Birla Group buys stake in Living Media India
The Birlas have earlier forayed only in the entertainment business and in 2003 launched a movie and television software production company called Applause Entertainment, best known for producing Hindi movie Black, starring Amitabh Bachchan.
The Birlas have earlier forayed only in the entertainment business and in 2003 launched a movie and television software production company called Applause Entertainment, best known for producing Hindi movie Black, starring Amitabh Bachchan.
Business News - Fri, May 18, 2012
Facebook lists on Nasdaq. Opens at $42.05/share
Setting the stage for the much-awaited trading of Facebook, its founder Mark Zuckerberg on Friday rang the opening bell at the Nasdaq stock exchange. Zuckerberg rang the bell from the headquarters of Facebook in California.
Setting the stage for the much-awaited trading of Facebook, its founder Mark Zuckerberg on Friday rang the opening bell at the Nasdaq stock exchange. Zuckerberg rang the bell from the headquarters of Facebook in California.
AI may take sacked pilots back, not IPG leaders
Adopting a 'carrot and stick' approach towards the 11-day Air India pilots' stir, government on Friday indicated it could take back all those sacked, barring the Indian Pilots Guild (IPG) office-bearers, if they resumed duty, as it alerted the IAF to set up medical boards to check pilots who have reported 'sick'.
Adopting a 'carrot and stick' approach towards the 11-day Air India pilots' stir, government on Friday indicated it could take back all those sacked, barring the Indian Pilots Guild (IPG) office-bearers, if they resumed duty, as it alerted the IAF to set up medical boards to check pilots who have reported 'sick'.
Rupee volatility a concern for IT-BPO industry: Nasscom
A 10 per cent-plus movement of currency in a few weeks is definitely concerning for the companies.
A 10 per cent-plus movement of currency in a few weeks is definitely concerning for the companies.
Forex reserves fall by $1.4 bn
The gold reserves were unchanged at $26.61 billion, the apex bank said.
The gold reserves were unchanged at $26.61 billion, the apex bank said.
Hewlett-Packard may slash 30,000 jobs
Hewlett-Packard plans to slash up to 30,000 jobs in the coming months, which would be one of the biggest layoffs in American corporate history, says a media report.
Hewlett-Packard plans to slash up to 30,000 jobs in the coming months, which would be one of the biggest layoffs in American corporate history, says a media report.
All options considered to check rupee slide: RBI
On whether RBI will consider selling dollar directly to oil companies as it did in 2008 to curb further volatility in the rupee, he said all options are considered.
On whether RBI will consider selling dollar directly to oil companies as it did in 2008 to curb further volatility in the rupee, he said all options are considered.
Rupee woes: MAIT seeks price revision in govt contracts
The domestic electronic product manufacturers depend heavily on imports for hardware components like hard drive and displays.
The domestic electronic product manufacturers depend heavily on imports for hardware components like hard drive and displays.
Austerity measures on anvil, warns Pranab
Government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit.
Government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit.
Cut spending: Pranab's recipe to stabilise economy
Government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit in view of the tight economic situation.
Government may slash spending on foreign travel by ministers and officials and on meetings in five-star hotels as part of austerity measures to cut down on budget deficit in view of the tight economic situation.
How India can stabilise its BoP situation
Near-term movements of INR will continue to be shaped by the capital flows situation, which in turn will be influenced by developments in Europe.
Near-term movements of INR will continue to be shaped by the capital flows situation, which in turn will be influenced by developments in Europe.
Column: Why the rupee is on a freefall
Rupee is well on its way to touching Rs 55 against the dollar.
Rupee is well on its way to touching Rs 55 against the dollar.
India Inc worried about fiscal woes, not Mamata govt
There were concerns among industrialists about direct land acquisition after the present government stated it would not acquire land anymore for industry.
There were concerns among industrialists about direct land acquisition after the present government stated it would not acquire land anymore for industry.
Markets end higher led by SBI
State Bank of India rallied over 5% to Rs 1,942
State Bank of India rallied over 5% to Rs 1,942
Experts caution on Facebook IPO frenzy
As the shares of social networking giant Facebook begin trading on the NASDAQ exchange today, experts believe that the stock is overpriced at $38 apiece and one must wait for now to invest in the firm.
As the shares of social networking giant Facebook begin trading on the NASDAQ exchange today, experts believe that the stock is overpriced at $38 apiece and one must wait for now to invest in the firm.
Dabur looks to expand retail chain NewU, to launch e-portal
Consumer goods firm, Dabur India Ltd is expanding reach of its 'NewU' retail chain through an online portal to cater to a larger consumer base apart from opening more stores across the country.
Consumer goods firm, Dabur India Ltd is expanding reach of its 'NewU' retail chain through an online portal to cater to a larger consumer base apart from opening more stores across the country.
No relief to bank loan defaulters: Govt
Reserve Bank of India also monitors the non-performing assets levels in banks.
Reserve Bank of India also monitors the non-performing assets levels in banks.
Kingfisher owes to govt Rs 269 cr Income Tax
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
Don't present misleading ads of tariff plans: Trai
Telecom regulator Trai has asked operators not to present misleading advertisements of their tariff plans, while directing them to show recurring charges to consumers under single head.
Telecom regulator Trai has asked operators not to present misleading advertisements of their tariff plans, while directing them to show recurring charges to consumers under single head.
'GOOD NEWS! India can grow at 8-9% for 20 years'
Addressing a high level debate on 'State of the World Economy and Finance in 2012' at the United Nations General Assembly in United Nations on Thursday, Ahluwalia said the Indian economy grew at an average rate of 9 per cent in the five years prior to the financial crisis of 2008.
Addressing a high level debate on 'State of the World Economy and Finance in 2012' at the United Nations General Assembly in United Nations on Thursday, Ahluwalia said the Indian economy grew at an average rate of 9 per cent in the five years prior to the financial crisis of 2008.
IMAGES: Interesting glimpses from the world of Facebook
Facebook made history by launching one of the largest initial public offerings.
Facebook made history by launching one of the largest initial public offerings.
Business News - Thu, May 17, 2012
Rupee is likely to touch 56/$ soon
The Reserve Bank of India's limited intervention was not enough to lift the rupee, the worst performing Asian currency since March.
The Reserve Bank of India's limited intervention was not enough to lift the rupee, the worst performing Asian currency since March.
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