Top Business News

Oil below $100 amid signs of improving US economy

Fri, 10 Feb 2012 05:49:54 GMT

Oil prices hovered below $100 a barrel today in Asia as encouraging news about the US economy was tempered by European demands for Greece to make further spending cuts before getting a new bailout.

Sensex extend gains, up 44 points in early trade

Fri, 10 Feb 2012 04:26:26 GMT

The BSE benchmark Sensex today extended gains for the third straight session by adding another 44 points in early trade, on sustained buying by funds and retail investors.

New pact with EU to give a fillip to bilateral trade

Thu, 09 Feb 2012 16:15:41 GMT

Karel De Gucht, the European Union (EU) trade commissioner, called on commerce and industry minister Anand Sharma on Thursday ahead of the 12th EU-India Summit that will take place in the capital on Friday. HT reports.

Vodafone India revenue grows 6.3% in Q3

Thu, 09 Feb 2012 16:08:05 GMT

Growing customer base increased income while global revenue fell 2.3% . HT reports.

Contempt of court: HC raps IFCI chief

Thu, 09 Feb 2012 16:02:24 GMT

Troubles for Atul Kumar Rai, the chief executive officer and managing director of state-owned financial institution IFCI (Industrial Finance Corporation of India), are showing no signs of ending. Vivek Sinha reports.

UAE’s Etisalat takes $827-mn charge against Indian ops

Thu, 09 Feb 2012 15:58:02 GMT

Emirates Telecommunication Corp Ltd (Etisalat) wrote off the value of its Indian operations on Thursday, booking an $827 million impairment charge, after the Supreme Court ordered the cancellation of 122 telecoms licences. A widening gulf

MTS offers unlimited calls

Thu, 09 Feb 2012 15:29:07 GMT

Sistema Shyam TeleServices, which operates under the brand MTS, on Thursday launched a new tariff plan allowing subscribers to make unlimited local and national calls within the network.

Tata Steel posts Q3 loss on rising costs

Thu, 09 Feb 2012 15:26:03 GMT

Tata Steel on Thursday reported a consolidated loss of Rs 603 crore for the third quarter ended December 31 as against a net profit of Rs 1,003 crore for the corresponding quarter in the previous fiscal on account of increased costs. HT reports.

Qantas, Korean Air to check A380s for cracks

Thu, 09 Feb 2012 15:22:54 GMT

Qantas Airways and Korean Air will carry out inspections for wing cracks on their Airbus A380 superjumbo planes earlier than previously scheduled, after European air safety officials ordered global checks, warning of a safety risk if the defects were not fixed.

Stake sale news hoists Thomas Cook shares 27%

Thu, 09 Feb 2012 15:19:10 GMT

UK-based travel operator Thomas Cook Group’s (TCG) announcement on Wednesday that it was formalising the stake sale process in its Indian subsidiary, Thomas Cook India (TCIL) saw the Indian arm’s share price rise 14.5% intra-day before closing at Rs 57, up 5.8% on Thursday. HT reports.

Institutions cash in on Indian bull run

Thu, 09 Feb 2012 15:14:39 GMT

Institutional investors are using the recent rally in the stock market as an opportunity to book profits on their investments. Sachin Kumar reports.

Securities tax may face the axe

Thu, 09 Feb 2012 15:06:27 GMT

Finance minister Pranab Mukherjee is likely to slash the securities transaction tax (STT), in a move that is likely to boost investor sentiments. The government is, however, unlikely to impose the commodity transaction tax (CTT) on commodity futures and options. HT reports.

Tata-PepsiCo JV eyes Rs 700-cr turnover by ’15

Thu, 09 Feb 2012 15:01:11 GMT

Eyeing a turnover of Rs 700 crore in the next five years, NourishCo — a joint venture between Tata Global Beverages and PepsiCo India — on Thursday said it will expand its healthy product portfolio. HT reports.

India, China may tie up for fuel hunt

Thu, 09 Feb 2012 14:53:59 GMT

After China's recent opposition to India’s oil and gas hunt in the South China sea, the stage is set for the two largest-growing economies of the world to join hands in their pursuit to acquire oil and gas assets abroad. Anupama Airy reports. Common interests and contentions

Sahara, US’ Turner in construction JV

Thu, 09 Feb 2012 14:50:25 GMT

Sahara Prime City, the real estate arm of Subroto Roy-led Sahara Group, on Thursday announced a joint venture with US-based construction major Turner Construction and special situation investment firm Acropolis Capital. The venture will invest $100 million or around Rs 500 crore within the next five years. HT reports.

Kodak to stop making cameras to cut costs

Thu, 09 Feb 2012 14:43:20 GMT

Eastman Kodak Co, the bankrupt inventor of the hand-held camera, plans to stop making digital cameras, pocket video cameras and digital picture frames in the first half of 2012 in a bid to cut costs.

India-Pak trade may surge to $10 bn

Thu, 09 Feb 2012 13:25:49 GMT

The Confederation of Indian Industry (CII) has stated that India and Pakistan can achieve bilateral trade of $10 billion by 2015, if barriers to trade and investment are dismantled. This would be substantially higher than the level of $2.7 billion realised in 2010-11. HT reports.

Not to be Left behind

Tue, 07 Feb 2012 17:27:29 GMT

The CPI(M)'s looking at conditions within India to achieve socialist goals. Better late than never?

Sensex outpaces world indices in new year bull run

Tue, 07 Feb 2012 16:51:51 GMT

India’s own Sensex has had a great start to the new year, with the 30-share BSE benchmark stock index emerging as a global winner thus far. It has outperformed most leading global indices in the period from Jan 1 to Feb 6, surging 15% (2252 points). Sachin Kumar reports.

Interest squeeze hurts GDP hard

Tue, 07 Feb 2012 16:44:47 GMT

India's real gross domestic product (GDP) growth in 2011-12 is likely to moderate to its lowest level since the global financial crisis hit home in 2008, down to 6.9% from the previous year's 8.4%, government estimates showed on Tuesday. HT reports.

Manappuram Finance shares tank 20% on RBI warning

Tue, 07 Feb 2012 11:41:59 GMT

Shares of Manappuram Finance tumbled by 20% to their lowest permissible limit for the day today, amid concerns over Reserve Bank of India warning the company against accepting public deposits.

Breather for airlines, as GoM okays air fuel import

Tue, 07 Feb 2012 08:07:40 GMT

In good news for the cash-strapped Indian aviation sector, a Group of Ministers (GoM) on Tuesday approved a proposal allowing airlines to directly import jet fuel. The GoM also cleared Air India's (AI) financial restructuring plan (FRP).

Indian IT cos in US paid $15bn in taxes in last 5 yrs: Foreign secretary

Tue, 07 Feb 2012 05:16:14 GMT

Foreign secretary Ranjan Mathai has expressed hope that the economic challenges in the US would not lead to protectionism and concerns of the Indian IT industry will be addressed.

Sensex closes lower, aviation stocks soar

Tue, 07 Feb 2012 04:18:42 GMT

Sensex on Tuesday closed 84 points lower as traders booked profits after five consecutive weeks of rallying. Aviation stocks, however, shot up after the government approved carriers' demand of importing jet fuel directly - a move which will help airlines bring down operating costs.

Walmart names Greg Foran as new China CEO

Tue, 07 Feb 2012 02:12:18 GMT

Wal-Mart Stores Inc said today it has named Walmart executive Greg Foran as the president and chief executive of Walmart China, capping a series of leadership changes at the China unit tainted by food scandals.