Business

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Sensex down by nearly 390 points on weak Asian cues

Written on 8 Dec, 2011 at 12:37 in Business | viewed 132 times | 0 Comments

Mumbai: The BSE benchmark Sensex plunged by almost 390 points to below the 16,500-mark at 1130 hours on Thursday on widespread selling by funds and retail investors, despite a sharp moderation in food inflation for the week ended November 26,... (Continue reading)

Wipro set for expansion in Bengal

Written on 7 Dec, 2011 at 18:03 in Business | viewed 172 times | 0 Comments

Kolkata: IT major Wipro’s Chairman Azim Premji on Wednesday met West Bengal Chief Minister Mamata Banerjee and expressed the desire to invest around Rs. 700-800 crore to expand its operations in the state. State Finance Minister Amit Mitra, who was present... (Continue reading)

51% FDI more than what Walmart expected

Written on 6 Dec, 2011 at 17:04 in Business | viewed 177 times | 0 Comments

New Delhi: Walmart, world’s largest retailer, had informed the Industry Ministry last year that it is comfortable with India allowing 49 per cent FDI in multi-brand retail, in view of “political sensitivity” in the country. The Union Cabinet in its decision... (Continue reading)

ADB scales down Asian growth forecast

Written on 6 Dec, 2011 at 11:33 in Business | viewed 161 times | 0 Comments

Hong Kong: The Asian Development Bank says economic growth in emerging East Asia will continue to wane in 2012 as sovereign debt problems in Europe and an anaemic U.S. economy raise the risk of a deep global downturn. The ADB said... (Continue reading)

Ranbaxy gets USFDA approval for generic Lipitor

Written on 1 Dec, 2011 at 8:41 in Business | viewed 280 times | 0 Comments

New Delhi: The United States health regulator on Wednesday granted approval to Ranbaxy Laboratories to produce generic version of cholesterol lowering drug Lipitor, a move that will help the India-based firm to launch the drug in the American market. “Ranbaxy Laboratories... (Continue reading)

Petrol price further cut by 78 paise a litre

Written on 30 Nov, 2011 at 20:22 in Business | viewed 149 times | 0 Comments

New Delhi: Petrol price has been cut by Rs 0.78 per litre, the second reduction in two weeks. The reduction was lower than the anticipated Re 1 per litre because of firming of international prices and drop in rupee during past... (Continue reading)

Petrol price cut on the cards

Written on 28 Nov, 2011 at 20:57 in Business | viewed 1,003 times | 0 Comments

New Delhi: Petrol prices may be cut by Rs 1.02 a litre this week, the second reduction this month, on falling global oil rates. State-owned oil companies, which on November 16 cut petrol price by Rs 2.22 per litre, may cut... (Continue reading)

No positives in sight for stock markets this week

Written on 27 Nov, 2011 at 11:29 in Business | viewed 135 times | 0 Comments

New Delhi: With no near-term positive trigger in sight, amid weak rupee and investor concerns over slow growth of the global economy, Indian bourses are expected to see a gap-down opening on Monday with the trend continuing through the week,... (Continue reading)

51 p.c. FDI in multi-brand retail ‘fantastic’: Billimoria

Written on 26 Nov, 2011 at 10:42 in Business | viewed 180 times | 0 Comments

London:Leading NRI entrepreneur Lord Karan Bilimoria has described the decision of the Indian government to allow 51 per cent foreign direct investment in the multi-brand retail sector as “fantastic”. “It is going to be fantastic,” Lord Bilimoria said while speaking at... (Continue reading)

Cabinet nod on FDI an important step: WalMart

Written on 25 Nov, 2011 at 10:59 in Business | viewed 534 times | 0 Comments

New York: The world’s largest retailer WalMart has termed India’s decision to allow 51 per cent FDI in multi-brand retail as a “first important step” and said it will study the finer details of the new policy to determine the... (Continue reading)