Business

Economic gloom worrisome, says SBI chief

Written on 12 Jun, 2013 at 18:45 in Business | viewed 68 times | 0 Comments

Mumbai: Describing the continuing economic gloom, as reflected in the IIP data, as worrisome, State Bank of India Chairman Pratip Chaudhuri today said it is time policy makers “wake up” to take urgent corrective steps. The chairman of the nation�s largest... (Continue reading)

IIP slips to disappointing 2% in April; raises rate cut hope

Written on 12 Jun, 2013 at 16:34 in Business | viewed 40 times | 0 Comments

New Delhi: Showing no signs of recovery, the industrial output slipped further to a ‘disappointing’ 2 per cent in April increasing the clamour for rate cut by the RBI and speedy clearances of projects to boost investment. The Index of Industrial... (Continue reading)

AP High Court clears merger of Mah Satyam with Tech Mahindra

Written on 11 Jun, 2013 at 15:58 in Business | viewed 127 times | 0 Comments

Hyderabad: The Andhra Pradesh High Court gave its approval for the merger of Mahindra Satyam with Tech Mahindra. Justice N R L Nageswara Rao, while dismissing other petitions seeking stalling the merger, said the investigation into the alleged fraud committed by... (Continue reading)

Car sales fall for 7th month in May, SIAM fears job losses

Written on 11 Jun, 2013 at 13:46 in Business | viewed 129 times | 0 Comments

New Delhi: Car sales in India fell for a record seventh consecutive month in May with a decline of 12.26 per cent, prompting industry body SIAM to caution that the prolonged slump in the market could result in job losses... (Continue reading)

Rupee tumbles to all-time low to 58.90; down 74 paise Vs USD

Written on 11 Jun, 2013 at 12:59 in Business | viewed 73 times | 0 Comments

Mumbai: Inching closer to the 59 mark, the rupee fell by a whopping 74 paise to hit a new all-time low of 58.90 in the late morning trade on persistent dollar demand from importers and banks as well as heavy... (Continue reading)

Ambani brothers sign Rs 12,000-cr deal to share telecom towers

Written on 7 Jun, 2013 at 19:38 in Business | viewed 151 times | 0 Comments

New Delhi: In the biggest deal since their reconciliation, Ambani brothers today announced a Rs 12,000-crore deal, wherein Mukesh will use towers owned by a firm run by his younger sibling Anil for launch of his telecom venture. Reliance Industries’ telecom... (Continue reading)

Mallya tells striking KFA staff he has no money to pay them

Written on 7 Jun, 2013 at 16:57 in Business | viewed 67 times | 0 Comments

Mumbai: Kingfisher Airlines chairman Vijay Mallya told his agitating employees, who began a hunger strike, that he did not have money to clear their salary dues. “I don’t have the money to pay your salary dues, because I cannot use the... (Continue reading)

RBI asked banks not to sell gold coins: Chidambaram

Written on 6 Jun, 2013 at 17:12 in Business | viewed 61 times | 0 Comments

Mumbai: RBI has advised banks not to sell gold coins to retail customers, Finance Minister P. Chidambaram said a day after the government increased import duty on the metal amid widening Current Account Deficit. “I think the RBI... (Continue reading)

Import duty on gold hiked to 8%

Written on 5 Jun, 2013 at 22:13 in Business | viewed 61 times | 0 Comments

New Delhi: With spiralling gold imports putting huge pressure on the Current Account Deficit, government tonight hiked the import duty on the metal to 8 per cent, up by 2 per cent, in a bid to rein in demand. “The import... (Continue reading)

TCS bags four-year deal from UK’s Network Rail

Written on 5 Jun, 2013 at 15:30 in Business | viewed 63 times | 0 Comments

Country’s largest software services firm Tata Consultancy Services (TCS) said it has bagged a four-year deal from UK’s Network Rail Infrastructure Ltd. The IT Solutions and System Integration Framework agreement encompasses identifying, defining, designing, building and integration of next... (Continue reading)

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