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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • 'Government committed to promoting business ties with nations'

    New Delhi, March 28 (IANS) The Indian government is committed to promoting close economic and trade ties with other countries, a top official said here on Saturday. Secretary (Economic Relations & Development Partnership Administration) in the external affairs ministry, Sujata Mehta, addressing … More »

    IANS - 10 hours ago
  • More countries say to join China-backed AIIB investment bank

    SHANGHAI/RIO DE JANEIRO (Reuters) - Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank (AIIB), adding clout to an institution seen as enhancing China's regional and global influence. The … More »

    Reuters - 13 hours ago
  • Tata Steel's Jamshedpur plant produces 10 million tonnes hot metal

    Kolkata, March 28 (IANS) Indian steel major Tata Steel on Saturday said it has produced ten million tonne per annum (MnTPA) of hot metal from a single plant location in Jamshedpur making it the first Indian firm to achieve the milestone. "Starting from a capacity of only 0.16 nn TPA (A Blast … More »

    IANS - 15 hours ago
  • FPIs remain saddled up despite negative cues

    New Delhi, March 28 (IANS) Foreign Portfolio Investors (FPIs) continued to stay put in the Indian equities space for the week ended March 27 despite the markets consolidating for the third consecutive ... … More »

    IANS - 17 hours ago
  • Negative global and local cues dip the markets for third straight week

    Mumbai, March 28 (IANS) Negative geo-political cues, coupled with expectations of subdued fourth quarter earnings results, led a benchmark index of Indian equities markets to the third straight week of ... … More »

    IANS - 18 hours ago
  • China, Kazakhstan strike deals worth 23.6 billion dollars

    Beijing, Mar. 28 (ANI): China has expanded its economic partnership with Kazakhstan by signing 33 deals worth 23.6 billion dollars, covering distinct areas ranging from hydropower to steel. … More »

    ANI - 18 hours ago
  • India's forex reserves up $4.26 bn

    Mumbai, March 28 (IANS) India's foreign exchange reserves increased by $4.26 billion to $339.99 billion for the week ended March 20, Reserve Bank of India (RBI) data showed. According to analysts, the Indian reserves are being build-up by the Reserve Bank of India (RBI) to absorb any future global … More »

    IANS - 19 hours ago
  • Vine now allows for high quality videos on iOS operating system

    Washington, March 28 (ANI): Short-video sharing app Vine has rolled out support for high-definition videos on iOS operating system and will soon be available on Android as well. … More »

    ANI - 21 hours ago
  • RBI moves to restrict bank exposure to corporate loans

    RBI moves to restrict bank exposure to corporate loans

    The Reserve Bank of India (RBI) has proposed to lower the ceiling on how much a bank can lend to a single corporate group, in a move to curb risks in the banking sector at a time when bad loans are on the rise. The central bank also said late on Friday it would consider setting a minimum … More »

    Reuters - 22 hours ago
  • Chinese CEO compares Apple to Nazis in new poster teasing launch of new smartphone

    Washington, March 28 (ANI): The billionaire founder and CEO of Chinese internet video site Leshi TV Jia Yueting has compared Apple to the Nazis in a new poster that teases the launch of the company's new ... … More »

    ANI - 23 hours ago
  • Oil dives 5 percent as worries about Iran talks trump Yemen

    Oil dives 5 percent as worries about Iran talks trump Yemen

    Oil tumbled 5 percent on Friday, erasing the previous session's gains, as Yemen's conflict looked less likely to disrupt Middle East crude shipments and investors turned their focus to talks for a potential Iran nuclear deal that could put more supply on the market. Oil prices still notched their … More »

    Reuters - Sat 28 Mar, 2015 5:50 AM IST
  • Intel in talks to buy Altera, shares of firms surge

    Intel in talks to buy Altera, shares of firms surge

    The acquisition of Altera, which makes programmable chips widely used in cellphone towers, the military and other industrial applications, would underscore Intel Chief Executive Officer Brian Krzanich's determination to expand into new markets as the personal computer industry loses steam. Earlier … More »

    Reuters - Sat 28 Mar, 2015 5:50 AM IST
  • Brazil says will join China-backed Asia investment bank

    Brazil says will join China-backed Asia investment bank

    Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank (AIIB) as a founding member. "Brazil is very interested in participating in this initiative," the office of President Dilma Rousseff said in a short statement. The AIIB has been seen as a … More »

    Reuters - Sat 28 Mar, 2015 5:49 AM IST
  • Fed's Yellen sees gradual rate hikes starting this year

    Fed's Yellen sees gradual rate hikes starting this year

    SAN FRANCISCO/WASHINGTON (Reuters) - Federal Reserve Chair Janet Yellen signalled that the U.S. central bank will likely start raising borrowing costs later this year, even before inflation and wages have returned to health, but emphasized the return to normal interest rates will be gradual. A … More »

    Reuters - Sat 28 Mar, 2015 3:48 AM IST
  • Chipmaker deal helps Wall St. rebound

    Chipmaker deal helps Wall St. rebound

    Wall Street on Friday closed higher for the first time in a week, lifted by rising tech stocks, while oil prices slumped 5 percent on receding fears about Middle East fighting disrupting supplies. U.S. ... … More »

    Reuters - Sat 28 Mar, 2015 3:01 AM IST
  • Gold snaps seven-day rally ahead of Yellen speech; set for second weekly gain

    NEW YORK/LONDON (Reuters) - Gold fell on Friday, snapping a seven-day rally as investors remained cautious ahead of comments from U.S. Federal Reserve Chair Janet Yellen, but the metal still looked set to post its second straight weekly gain. Yellen will speak in San Francisco on monetary policy … More »

    Reuters - Sat 28 Mar, 2015 12:42 AM IST
  • Wall Street flat ahead of Yellen; biotechs bounce

    Wall Street flat ahead of Yellen; biotechs bounce

    U.S. stocks held near the unchanged mark on Friday, putting major indexes on track to barely snap a four-session losing streak, ahead of a speech by Federal Reserve Chair Janet Yellen that could create a volatile close on Wall Street. Healthcare stocks helped buoy indexes with biotech stocks … More »

    Reuters - Fri 27 Mar, 2015 11:31 PM IST
  • Ford Motor says U.S. jury finds it did not infringe tech patents

    The jury in federal court in Tacoma, Washington, also found in Ford's favor on its claim that the patents' owner, Eagle Harbor Holdings, stole Ford's trade secrets, according to Ford. The jury verdict was not publicly available on the court's docket on Friday. … More »

    Reuters - Fri 27 Mar, 2015 10:50 PM IST
  • Jaitley urges more cheque, plastic money use to check black money

    New Delhi, March 27 (IANS) Finance Minister Arun Jaitley on Friday called for more widespread use of cheques and "plastic" currency to tackle the scourge of black money. "As the economy grows, there is a roadmap, and the roadmap is more and more people start discarding the use of currency and … More »

    IANS - Fri 27 Mar, 2015 9:48 PM IST
  • Rajasthan CM to visit Japan April 6-10

    Jaipur, March 27 (IANS) With an aim to attract investment in the state, Rajasthan Chief Minister Vasundhara Raje will travel to Japan April 6-10, an official statement said on Friday. "The chief minister during her visit will meet senior business and political leaders and invite them to invest in … More »

    IANS - Fri 27 Mar, 2015 9:46 PM IST
  • Mobile chat application creator to host 'Hikeathon'

    "The event will give a unique opportunity for hackers to think innovatively and find solutions on how to make the So-Lo-Mo (social-local-mobile) revolution a reality, especially in the context of messaging," Hike chief technology officer Rajat Bansal said in a statement here on Friday. The 24-hour … More »

    IANS - Fri 27 Mar, 2015 9:22 PM IST
  • U.S. economic growth slows in Q4; corporate profits fall

    U.S. economic growth slows in Q4; corporate profits fall

    U.S. economic growth cooled in the fourth quarter as previously reported and after-tax corporate profits took a hit from a strong dollar, which could undermine future business spending. Corporate profits from outside the United States fell at an 8.8 percent rate, the steepest decline since the … More »

    Reuters - Fri 27 Mar, 2015 9:06 PM IST
  • BlackBerry posts 4th-qtr profit; seeks to end revenue slide

    BlackBerry posts 4th-qtr profit; seeks to end revenue slide

    BlackBerry Ltd posted a surprise quarterly profit on Friday and said it is pushing to end a slide in its revenue in this fiscal year, sending the stock up as much as 5.1 percent. We're now turning our attention to revenue stabilization," BlackBerry Chief Executive John Chen said on a conference … More »

    Reuters - Fri 27 Mar, 2015 9:06 PM IST
  • BPCL begins Bina Refinery shutdown for about a month for maintenance

    Refiner BPCL is shutting its 120,000 barrels per day Bina Refinery in Madhya Pradesh for about a month from Friday for routine maintenance, a company executive said. The refinery is operated by Bharat ... … More »

    Reuters - Fri 27 Mar, 2015 8:20 PM IST
  • Railways' freight business to grow between 9 to 15 percent: Report

    New Delhi, March 27 (IANS) The government on Friday said the Indian Railways' freight business is expected to rise between 9 to 15 percent during the next four years from the average growth of around four percent recorded during the last four years. The freight potential was revealed in a report … More »

    IANS - Fri 27 Mar, 2015 8:18 PM IST
  • SpiceJet running short of planes for scheduled flights

    SpiceJet running short of planes for scheduled flights

    Low-cost carrier SpiceJet Ltd(SPJT.BO) will have to cancel more than a fifth of its planned daily flights if it cannot reach an agreement with its lessors to bring in more aircraft by the end of this month, a company spokesman said. SpiceJet, which came close to collapsing in December after … More »

    Reuters - Fri 27 Mar, 2015 8:13 PM IST
  • Tax offices to remain open on Saturday

    New Delhi, March 27 (IANS) The government said on Friday that all field offices of customs, central excise and service tax shall remain open on March 28, Saturday, to facilitate filing of returns by e tax-payers. "In view of closing of the current financial year, the Central Board of Excise and … More »

    IANS - Fri 27 Mar, 2015 8:04 PM IST
  • Wall Street little changed with focus on Yellen

    U.S. stocks edged up on Friday, with major indexes trying to avoid falling every day this week, ahead of a speech by Federal Reserve Chair Janet Yellen that could make for a volatile close on Wall Street. Healthcare stocks helped buoy indexes with biotech stocks up 1.6 percent following four … More »

    Reuters - Fri 27 Mar, 2015 7:54 PM IST
  • Terrorism, naxalism, corruption major problems for business: Experts

    New Delhi, March 27 (IANS) Terrorism and maoism, besides corruption, remain a big worry for investors in India, experts said on Friday. Rajiv Arora of the National Intelligence Grid (Natgrid), an attached office of the ministry of home affairs, said terrorism and maoism have been serious threats … More »

    IANS - Fri 27 Mar, 2015 7:48 PM IST
  • Vedanta to file notice of claim in Cairn India tax case

    Vedanta to file notice of claim in Cairn India tax case

    Vedanta Resources Plc said it would file a notice of claim related to a tax demand of about 205 billion rupees ($3.29 billion) its unit Cairn India Ltd received from the Indian government this month. The notice is the first step required before seeking international arbitration under the UK-India … More »

    Reuters - Fri 27 Mar, 2015 7:40 PM IST
  • Honda to manufacture 6.4 million two-wheelers by 2016

    New Delhi, Mar. 27 (ANI): Japanese multinational corporation Honda has announced plans for expansion of its third plant in Narsapura, Karnataka, in order to meet an anticipated demand of 6.4 million two-wheelers ... … More »

    ANI - Fri 27 Mar, 2015 7:31 PM IST
  • Ford CEO Fields received $18.6 million in 2014 compensation

    Ford CEO Fields received $18.6 million in 2014 compensation

    Ford Motor Co Chief Executive Officer Mark Fields made $18.6 million in salary and other compensation last year, below the $23.2 million that predecessor Alan Mulally received in 2013, the company said on Friday. Last year's compensation for Fields, 54, was for half the year as CEO and half as … More »

    Reuters - Fri 27 Mar, 2015 7:30 PM IST
  • Court says no evidence of cartel in low bids for coal blocks

    Court says no evidence of cartel in low bids for coal blocks

    A court on Friday said there was "absolutely no evidence" of collusion in the low winning bids for three of the 33 coal mines put up for auction by the government over the past two months. The government earlier rejected four winning bids -- three from Jindal Steel and Power Ltd and one from … More »

    Reuters - Fri 27 Mar, 2015 7:23 PM IST
  • Telecom regulator seeks views on framework for OTT services

    New Delhi, March 27 (IANS) The Telecom Regulatory Authority of India (TRAI) has initiated the process to prepare framework for over-the-top (OTT) services like Whatsapp, Skype, Viber and many others. In this background, TRAI today released a consultation paper on regulatory framework for OTT … More »

    IANS - Fri 27 Mar, 2015 7:08 PM IST
  • Railways to approach World Bank for financial assistance: Minister

    New Delhi, March 27 (IANS) Railway Minister Suresh Prabhu on Friday said that the World Bank would be approached for financial assistance to modernise the Indian railways. Prabhu spoke at the 'Global Rail Convention-2015: Indian Railways on the fast track' organised by the PHD Chamber of Commerce … More »

    IANS - Fri 27 Mar, 2015 6:54 PM IST
  • Corruption topmost risk to Indian business environment: FICCI

    New Delhi, March 27 (IANS) A leading industry body on Friday ranked 'corruption, bribery and corporate frauds' as the topmost risk that impact Indian business environment. The Federation of Indian Chambers of Commerce and Industry (FICCI) revealed the topmost risk to the Indian business … More »

    IANS - Fri 27 Mar, 2015 6:46 PM IST
  • Gold falls after seven-day rally; set for second weekly gain

    Gold fell on Friday, snapping a seven-day rally as the dollar rebounded after Federal Reserve officials signalled they remained on track to raise rates this year, but the metal still looked set to post its second straight weekly gain. At separate events on Thursday, the presidents of the St. Louis … More »

    Reuters - Fri 27 Mar, 2015 6:39 PM IST
  • ReWalk Robotics plans India launch of walking device by second quarter

    ReWalk Robotics Ltd plans to launch its wearable robotic exoskeleton device in India by the second quarter of 2015, Chief Executive Larry Jasinski said. "We ship the first few units within the next 10 days," Jasinski told Reuters. ReWalk, approved in the United States and the European Union, was … More »

    Reuters - Fri 27 Mar, 2015 6:23 PM IST
  • Quiet trading seen in holiday-shortened week; liquidity eyed

    Quiet trading seen in holiday-shortened week; liquidity eyed

    REUTERS - Indian shares are seen range-bound, with focus on oil prices due to rising tensions in the Middle East. The end of fiscal year could spark some volatility. Bonds and rupee are also seen range-bound. ... … More »

    Reuters - Fri 27 Mar, 2015 6:20 PM IST
  • High spectrum prices will put pressure on telcos: GSMA

    New Delhi, March 27 (IANS) High prices will put increased financial pressure on telecom operators in India, which will have negative impact on consumers, global industry body GSM Association (GSMA) said here on Friday. "Unfortunately these high prices will put increased financial pressure on … More »

    IANS - Fri 27 Mar, 2015 6:10 PM IST
  • IKEA gets first order for flat-pack refugee shelters

    IKEA gets first order for flat-pack refugee shelters

    Sweden's IKEA has received its first order for temporary flat-pack refugee shelters and expects to double or triple production in the coming three years, it said on Friday. After developing the shelters together with the IKEA Foundation's social enterprise Better Shelter, the United Nations … More »

    Reuters - Fri 27 Mar, 2015 6:04 PM IST
  • No tax on foreign firms' dividends outside India: CBDT

    Chennai, March 27 (IANS) The Central Board of Direct Taxes (CBDT) has clarified that dividends declared and paid by a foreign company outside India in respect of shares which derive their value mainly from assets in India will not be deemed to be taxable in India. The CBDT's circular issued on … More »

    IANS - Fri 27 Mar, 2015 5:32 PM IST
  • Sensex closes flat; oil and gas stocks plunge

    Mumbai, March 27 (IANS) A benchmark index of Indian equities markets, the 30-scrip BSE Sensitive Index (Sensex), closed Friday's trade flat. The wider 50-scrip Nifty of the National Stock Exchange (NSE) ... … More »

    IANS - Fri 27 Mar, 2015 5:24 PM IST
  • High Chinese cost opportunity for Indian industry: Jaitley

    New Delhi, March 27 (IANS) Finance Minister Arun Jaitley said on Friday that higher costs of production in China give a great opportunity for India to become a global manufacturing hub. This is the best possibility for removing poverty in India," he said, addressing the annual day celebrations at … More »

    IANS - Fri 27 Mar, 2015 4:40 PM IST
  • IAEA urges India to take further action for nuclear regulation

    The International Atomic Energy Agency (IAEA) urged India on Friday to further tighten its nuclear safety regulations by assuring the legal independence of its atomic watchdog and allowing more outside inspections. India, which has tested nuclear weapons but is a non-signatory of the … More »

    Reuters - Fri 27 Mar, 2015 4:28 PM IST
  • Sensex posts third straight weekly loss

    Sensex posts third straight weekly loss

    The BSE Sensex and Nifty closed little changed after a volatile session on Friday, posting their third consecutive weekly loss on concerns about rising tensions in the Middle East. The benchmark BSE Sensex ... … More »

    Reuters - Fri 27 Mar, 2015 4:02 PM IST
  • Hoya Group Invests in SalutarisMD Wet AMD Therapy Technology

    Tokyo, Mar. 27 (ANI): HOYA Corporation, a diversified, multinational company and leading supplier of innovative and indispensable high-tech and healthcare products, announced that it has closed an investment ... … More »

    ANI - Fri 27 Mar, 2015 3:44 PM IST
  • Study says fitness wristbands 'vulnerable' to third-party hack attacks

    New Delhi, March 27 (ANI): Fitness trackers of all kinds have become extremely popular, helping people to manage their physical activity and calorie intake and stay in shape. However, such devices also ... … More »

    ANI - Fri 27 Mar, 2015 3:44 PM IST
  • Google will pay 70 mln dollars to its new CFO

    Washington, March 27 (ANI): Google has reportedly agreed to pay its new CFO, Ruth Porat, about 70 million dollars in total compensation by 2019. … More »

    ANI - Fri 27 Mar, 2015 3:44 PM IST

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