LATEST BUSINESS, FINANCE AND MARKET NEWS
The former chief financial officer of Danish wind turbine maker Vestas Wind Systems A/S is being investigated by the country's fraud squad over two agreements he made with an Indian firm, Vestas said. ... More » Vestas says fraud squad investigating ex-finance chief
Gold prices are looking even more vulnerable after April's price crash, as rampant inflation expected from successive rounds of monetary easing fails to materialise. The idea that record-low interest rates ... More » Gold faces more pressure as inflation stays tame
Global equity markets drifted lower on Friday as investors were beset by worries that central bank stimulus may be curtailed, but the dollar recovered against the euro to trade almost flat after better-than-expected ... More » Stimulus fears haunt world share markets, dollar recovers
HSBC's Chairman Douglas Flint called for an acceleration in the speed of reform within the industry as the bank was criticised by shareholders for compliance failings and accusations it aided tax avoidance. ... More » HSBC Chairman urges acceleration of bank reform
Mumbai, May 24 (IANS) Jet Airways Friday said its shareholders have approved the company's plans to offload 24 percent stake to Abu Dhabi-based Etihad Airways for around $379 million (Rs.2,058 crore). ... More » Jet Airway's shareholders approve Etihad deal
Mumbai, May 24 (IANS) Prime Minister Manmohan Singh Friday asked the capital market regulator SEBI to root out the "pernicious disease" of insider trading, saying the future effectiveness of ... More » PM asks SEBI to stop insider trading
New Delhi, May 24 (IANS) In a report with recommendations for Jindal Steel and Power (JSPL) and the Indian government, Human Rights Watch said the Mozambique government and foreign companies' work in resettling ... More » Indian mining firms face human rights issues in Mozambique
U.S. stocks fell at the open on Friday, putting Wall Street on track for its first weekly decline since mid April, amid concern the U.S. central bank may scale back its support to the economy. The Dow ... More » Wall Street falls at open as Fed plans gauged
Shimla, May 24 (IANS) Himachal Pradesh Chief Minister Virbhadra Singh Friday submitted a memorandum to visiting President Pranab Mukherjee, seeking additional central financial assistance to overcome a ... More » Virbhadra submits memo for financial aid to Mukherjee
Finance Minister P. Chidambaram said on Friday he would introduce a bill for a direct tax code during the monsoon session of parliament. The code, which will replace the existing Indian Income Tax Act ... More » Chidambaram says will introduce direct tax code in monsoon session
Mumbai, May 24 (IANS) Undeveloped corporate debt market is a weakness in India's financial system and high fiscal deficit is further complicating the problem, Prime Minister Manmohan Singh said Friday. ... More » Fiscal deficit affecting corporate debt market: PM
Mumbai, May 24 (IANS) Prime Minister Manmohan Singh Friday called for increased efforts by the government and financial regulators to channelise domestic savings into financial assets. "The imperative ... More » Channelise domestic savings into financial assets: PM
New Delhi, May 24 (IANS) FICCI Friday called for regulating sports betting in India in the wake of the cricketing spot fixing scandal. Despite several attempts to ban it, betting is continuing in an underground ... More » FICCI for regulating betting in sports
The founder of real estate company Puravankara Projects Ltd got bids worth 1.7 billion rupees by selling shares to meet the market regulator's requirement of having at least 25 percent public shareholding. ... More » Puravankara founder gets bids worth $31 mln in share sale
India has made "tremendous progress" in reducing oil imports from Iran, a senior U.S. government official said on Friday, in a sign the South Asian nation is likely to get a third waiver from ... More » U.S. hints at renewed Iranian sanctions waiver for India
New Delhi, May 24 (IANS) India does not depend on short-term borrowings from the US and if the US withdraws its stimulus packages, it will not impact capital inflows in India, Planning Commission Deputy ... More » US decision will not hit capital inflows to India: Montek
Panaji, May 24 (IANS) Holding a fig leaf to protect its shrinking identity, Goa wants to roll out a red carpet for a Rs.25,000 crore investment it needs to set its industrial ambitions in order. After ... More » Goa eyes Rs.25,000 crore industrial investment
Mumbai, May 24 (IANS) Singapore is ready to help Maharashtra develop its infrastructure in major cities like Mumbai and Pune, an official said Friday. This was indicated by visiting Singapore Deputy Prime ... More » Singapore to help develop Maharashtra
World share markets looked vulnerable to further falls on Friday, with brighter economic news from Europe doing little to encourage investors who are worried that central bank stimulus may be curtailed. ... More » Stimulus fears haunt world share markets, dollar weak
Mumbai, May 24 (IANS) A benchmark index of Indian equities markets Friday closed flat, a day after the benchmark index shed nearly two percent on the report that the US may reverse its monetary stimulus ... More » Sensex closes flat; capital goods stocks gain
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