Business

S&P warns India of rating downgrade;Govt says nothing to worry

Written on 17 May, 2013 at 19:10 in Business | viewed 15 times | 0 Comments

New Delhi: Global agency Standard & Poor’s threatened to downgrade India’s rating to ‘junk’ status if it fails to pursue reforms, “disappointing” the government which retorted by saying the international investors hold a different view and there was nothing to... (Continue reading)

No LPG to houses with multiple-connections from Jun 1

Written on 16 May, 2013 at 18:52 in Business | viewed 51 times | 0 Comments

New Delhi: Cooking gas or LPG supplies to households having unverified multiple connections will stop from June 1, state-owned oil firms announced. The three state-owned fuel retailers have been “directed to stop supplies of LPG refills to households having multiple-connections for... (Continue reading)

Inflation drops to 4.89 pc in Apr; lowest since Nov 2009

Written on 14 May, 2013 at 15:58 in Business | viewed 59 times | 0 Comments

New Delhi: Declining price of food items, including fruits and vegetables, pulled down inflation to nearly a three-and-a-half-year low of 4.89 per cent in April, which may present a case for further monetary policy easing. Inflation based on the Wholesale... (Continue reading)

Nokia launches India-made touch screen phone for USD 99

Written on 9 May, 2013 at 18:13 in Business | viewed 95 times | 0 Comments

New Delhi: Finnish phone maker Nokia today unveiled a USD 99 (about Rs 5,350) touch screen mobile with internet capability on its popular Asha series as it looks to regain lost ground after having fallen behind in the global smartphone... (Continue reading)

SC dismisses plea challenging Cairn-Vedanta deal

Written on 9 May, 2013 at 13:53 in Business | viewed 62 times | 0 Comments

The Supreme Court refused to interfere in USD 8.5 billion Cairn-Vedanta deal and dismissed a PIL challenging its validity. A bench of justices K S Radhakrishnan and Dipak Misra said that the decision by the Centre and ONGC pertaining to the... (Continue reading)

Responsibility to check money laundering rests with govt:RBI

Written on 8 May, 2013 at 22:27 in Business | viewed 75 times | 0 Comments

Srinagar: Amid allegations of money laundering against banks and insurance companies by an online portal, Reserve Bank Governor D Subbarao today said it was the responsibility of the government and tax authorities to check such activities. “RBI is not directly involved…... (Continue reading)

Hyundai to launch four new models in 2 years

Written on 8 May, 2013 at 10:19 in Business | viewed 72 times | 0 Comments

Chennai:Hyundai Motor India is planning to launch up to four new models in the next two years, including a compact SUV, to enhance its position in the market. The company, which is slated to introduce a new compact car later this... (Continue reading)

Cobrapost: FinMin for immediate action against staff

Written on 6 May, 2013 at 21:06 in Business | viewed 177 times | 0 Comments

New Delhi: Within hours of online portal Cobrapost alleged money laundering by financial institutions, the Finance Ministry asked PSU banks and LIC to take immediate action against employees “appears to be advising” customers on ways of violating KYC and other... (Continue reading)

ADB to provide USD 6 billion to India

Written on 5 May, 2013 at 19:19 in Business | viewed 209 times | 0 Comments

Greater Noida: India will get loan of about USD 6 billion from the Asian Development Bank (ADB) over the next three years for various projects including those in energy and education sectors. “Our idea is ADB will maintain its lending level... (Continue reading)

Hawkish RBI cuts interest rate by just 0.25 pc

Written on 3 May, 2013 at 12:01 in Business | viewed 161 times | 0 Comments

Mumbai: Sticking to its cautious stance, the Reserve Bank cut the key interest rate by just 0.25 per cent to 7.25 per cent and kept the liquidity enhancing cash reserve requirement unchanged, disappointing the industry and stock market. The RBI in... (Continue reading)

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