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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Eicher Motors sells 30,240 units in February

    Chennai, March 1 (IANS) Two-wheeler maker Eicher Motors Ltd Sunday said it closed last month selling 30,240 units, logging a growth of 49 percent over the corresponding period last year. The company making Royal Enfield bikes said it is targeting to roll out 450,000 this calendar year. These … More »

    IANS - 16 minutes ago
  • Insurance sector fears being pulled into 'Cess Pool', wants clarity on sops

    Chennai, March 1 (IANS) Generally satisfied at the budgetary proposals of union Finance Minister Arun Jaitley for 2015-16, insurance industry officials however expressed their fears of being pulled into the "cess pool" of the Swachh Bharat Cess. Experts also told IANS that a clear legal clarity is … More »

    IANS - 53 minutes ago
  • Drop-tops belly-flop as austerity breeds pragmatic car buyers

    The mass-market convertible car emits its last gasp this week at a Geneva motor show bristling with sport utility vehicles and low-cost models -- more evidence of the pragmatism of European consumers marked by years of austerity. Mainstream brands from Peugeot to Volkswagen are quietly axing … More »

    Reuters - 2 hours 48 minutes ago
  • China central bank steps up easing tempo as factory activity shrinks

    China central bank steps up easing tempo as factory activity shrinks

    Weakness in China's vast manufacturing sector, aggravated by high real borrowing costs and weak demand, appears to have driven the central bank to accelerate the pace of monetary easing to ward off deflation in the world's second-largest economy. Cuts to benchmark lending and deposit rates, … More »

    Reuters - 3 hours ago
  • Will Budget 2015 really translate into 'Achche Din'?

    Will Budget 2015 really translate into 'Achche Din'?

    Finance Minister Arun Jaitley presented his maiden budget for a full fiscal year on February 28. But will his announcements translate into real good for the country? Watch below, as market experts discuss the key issues. … More »

    Yahoo Finance India - 4 hours ago
  • Tinder Plus set to launch on Monday for 9.99 dollars

    Washington, March 01 (ANI): Dating app Tinder's first foray into the world of freemium monetization, Tinder Plus, is set to launch on Monday for 9.99 dollars, a report said. … More »

    ANI - 4 hours ago
  • Swatch to update Swatch Touch with new fitness features

    Washington, March 01 (ANI): Swatch has reportedly announced its decision to update its current touchscreen offering, the Swatch Touch. … More »

    ANI - 4 hours ago
  • Now, futuristic furniture that can charge your smartphones

    London, Mar. 01 (ANI): A new range of futuristic furniture has been developed that can charge smartphones, which that will bring an end to wire-filled rooms. … More »

    ANI - 5 hours ago
  • Falling cotton prices: Need to combine 'Tech with Mech'

    Kanhaiyyalal Patel, 52, cannot hide his disappointment as he contemplates a cheque for Rs.76,154 given to him by Saksham Industries for 1,800 kg of cotton. A farmer of Tunda village, in Mehsana's Unjha taluk in Gujarat, renowned for the wholesale market for cumin, flaxseed and fennel, Patel's … More »

    IANS - 5 hours ago
  • Shahnaz Husain Group promotes safe Holi with herbal gulal

    New Delhi, Mar.1 (ANI): The festival of colours-Holi-will be celebrated on Friday (March 6), and in keeping with the spirit of particpating in it in a safe but fun manner, the Shahnaz Husain Group, India's ... … More »

    ANI - 9 hours ago
  • Buffett looks to succession, signals future growth problem

    In his 50 years at the helm of Berkshire Hathaway Inc, Warren Buffett has transformed a failing textile company into a sprawling conglomerate that has vastly outperformed most of the rest of corporate America. In the 84-year-old's annual shareholder letter released on Saturday, Buffett said … More »

    Reuters - 9 hours ago
  • Buffett says 'sprawl' is good, but may not be good enough

    Buffett says 'sprawl' is good, but may not be good enough

    Warren Buffett wants to buy more businesses to add to Berkshire Hathaway Inc's (BRKa.N) "sprawl," but cautioned it may not keep the company he has run for 50 years from evolving into something rarely used to describe it up until now: average. In his annual letter to shareholders, Buffett on … More »

    Reuters - 18 hours ago
  • Budget raises India's profile, says TCS chief

    Bengaluru, Feb 28 (IANS) The union budget for 2015-16 was far sighted and bold to raise the country's profile as an investment destination, a top official Tata Consultancy Services (TCS) said Saturday. "The budget aims to make structural changes in taxation for driving higher corporate investment … More »

    IANS - 18 hours ago
  • Climate change gets a boost; environment ministry budget trimmed

    Climate change gets a boost; environment ministry budget trimmed

    New Delhi, Feb 28 (IANS) In sync with Prime Minister Narendra Modi's commitment on climate change, the government Saturday ramped up budget allocation a whopping sixteen-fold to boost India's mission to climate change and adaption, even as the overall allocation to the environment ministry was … More »

    IANS - 18 hours ago
  • Highlights: Warren Buffett's letter to investors

    Warren Buffett released his annual letter to Berkshire Hathaway (BRKa.N) shareholders on Saturday, written with his usual mix of business facts, common-sense advice and showmanship. "Periodically, financial markets will become divorced from reality – you can count on that. … More »

    Reuters - 18 hours ago
  • Budget woos foreign investors with tax incentives

    Budget woos foreign investors with tax incentives

    India, keen to rekindle economic growth, wooed foreign investors on Saturday with a budget that delayed controversial rules to target tax avoidance and maintained lower taxes on income from debt investments. The measures, part of the government's budget for the next fiscal year, come amid growing … More »

    Reuters - 18 hours ago
  • 'For India to grow, everybody must pull their weight together': Chidambaram

    New Delhi, Feb. 28 (ANI): Former finance minister P. Chidambaram on Saturday criticised what he felt was the marginalisation of the non-income tax payers by the incumbent Arun Jaitley, adding that India ... … More »

    ANI - 21 hours ago
  • Budget deprived of measure to boost real estate sector: Omaxe Limited CEO

    New Delhi, Feb. 28 (ANI): Omaxe Limited chief executive officer Mohit Goel on Saturday said that the Union Budget for the fiscal year 2015-16 is deprived of any concrete measures to boost the real estate ... … More »

    ANI - 21 hours ago
  • Jaitley proposes courts for quick resolution of commercial disputes

    New Delhi, Feb 28 (IANS) Finance Minister Arun Jaitley Saturday said the government proposes to set up exclusive commercial courts including in various high courts for the quick resolution of commercial disputes. Announcing the measure in his budget speech for 2015-16, he said that government … More »

    IANS - 21 hours ago
  • Bengal's industries commend union budget 2015

    Kolkata, Feb 28 (IANS) Industry associations and businessmen in West Bengal gave the thumbs-up to Finance Minister Arun Jaitley for an industry-friendly budget, especially for reducing corporate tax and his government's special focus on the east zone. "The budget seeks to provide an environment … More »

    IANS - 21 hours ago
  • Warren Buffett says Berkshire has "right person" as heir

    Warren Buffett says Berkshire has "right person" as heir

    Warren Buffett told investors on Saturday that Berkshire Hathaway Inc had found his successor, giving more details than ever about the heir to the company he has run for 50 years. "Both the board and I believe we now have the right person to succeed me as CEO – a successor ready to assume the job … More »

    Reuters - 21 hours ago
  • Budget fails to address IT industry issues: Nasscom

    "The budget does not address some key issues like section 56 for angel tax, dual levy of taxes on products, service tax refunds and clarity on transfer pricing," Nasscom president R. Chandrashekhar said in a statement here. Start-ups raising funds from angel investors have to pay 33 percent as tax … More »

    IANS - 21 hours ago
  • Jaitley give big boost to life, health and pension sectors

    Jaitley give big boost to life, health and pension sectors

    Chennai, Feb 28 (IANS) Union Finance Minister Arun Jaitley Saturday gave a big fillip to the insurance, pension sectors by proposing to net large masses of people under the proposed insurance and pension schemes. He said the proposed Pradhan Mantri Suraksha Bima Yojna would cover risk of … More »

    IANS - 21 hours ago
  • Budget 2015-16: What is costlier, what is cheaper

    New Delhi, Feb 28 (IANS) The national budget presented by Finance Minister Arun Jaitley Saturday has the potential to increase what you pay for some commodities while also reducing it for certain categories. Excise duty on cigarettes has been increased by 25 percent for cigarettes of length not … More »

    IANS - 22 hours ago
  • IOC to raise diesel, petrol prices from Sunday

    IOC to raise diesel, petrol prices from Sunday

    Indian Oil Corp said it would raise the retail price of petrol by 5.5 percent and that of diesel by 6.6 percent from Sunday, as global prices of the two fuels have risen since the last revision. Retail ... … More »

    Reuters - 22 hours ago
  • Petrol, diesel rates hiked by over Rs. 3 a litre each

    Petrol, diesel rates hiked by over Rs. 3 a litre each

    New Delhi, Feb 28 (IANS) The prices of petrol and diesel have been raised by Rs.3.18 and Rs.3.09 a litre respectively (ex-Delhi), effective midnight, following a steep increase in international crude prices, ... … More »

    IANS - 22 hours ago
  • Jaitley proposes corporate tax, customs duty cuts, service tax hike

    New Delhi, Feb 28 (IANS) Finance Minister Arun Jaitley Saturday proposed to cut the corporate tax rate by five percent to 25 percent over next four years while increasing the service plus education cess from 12.36 percent to a consolidated 14 percent. Presenting the budget for 2015-16 in … More »

    IANS - 22 hours ago
  • Tax, health benefits in budget delight many

    New Delhi, Feb 28 (IANS) The emphasis on health and several tax benefits, with no change in income tax rates and a universal social security system for all Indians, has left the public largely satisfied with the union budget presented in parliament Saturday. "I am glad that the personal income tax … More »

    IANS - 22 hours ago
  • China cuts rates again in face of weak demand, deflation risk

    China cuts rates again in face of weak demand, deflation risk

    China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. The central bank said the 25 basis point cut in the benchmark … More »

    Reuters - 22 hours ago
  • Berkshire Hathaway net falls, operating profit rises

    Berkshire Hathaway net falls, operating profit rises

    REUTERS - Warren Buffett's Berkshire Hathaway Inc on Saturday said fourth-quarter profit declined 17 percent as investment gains declined, but operating results improved. Earnings fell short of analyst ... … More »

    Reuters - 22 hours ago
  • NDA Govt.'s budget is 'unkind to the poor': Chidambaram

    New Delhi, Feb. 28 (ANI): Former finance minister P. Chidambaram on Saturday termed the Union Budget presented by incumbent Arun Jaitley as 'reeling in favour of corporates', adding that the government's ... … More »

    ANI - 22 hours ago
  • Govt. proposes to defer applicability of GAAR by two years

    New Delhi, Feb. 28 (ANI): Union Finance Minister Arun Jaitley on Saturday proposed to defer the applicability of the General Anti Avoidance Rule (GAAR) by two years. … More »

    ANI - 22 hours ago
  • USIBC welcomes Union Budget 2015-16

    Washington, Feb. 28 (ANI): The U.S.-India Business Council (USIBC) has welcomed Finance Minister Arun Jaitley's Union Budget as a bold roadmap for improving the ease of doing business in India. … More »

    ANI - 22 hours ago
  • Jaitely proposes MUDRA bank to generate inclusive growth

    New Delhi, Feb. 28 (ANI): Finance Minister Arun Jaitely said on Saturday that the NDA Government firmly believes that development has to generate inclusive growth. While large corporate and business entities ... … More »

    ANI - 22 hours ago
  • Postal network to be used for increasing access to formal financial system

    New Delhi, Feb. 28 (ANI): Asserting that the government is committed to increasing access of the people to the formal financial system, Finance Minister Arun Jaitely said the government proposes to utilize ... … More »

    ANI - 22 hours ago
  • India keeps tight rein on public health spending in 2015-16 budget

    The Indian government on Saturday kept its healthcare budget for 2015-16 on a tight leash and asked states to contribute more funds for running the country's flagship health programmes. The government announced 297 billion rupees ($4.81 billion) for its main health department, roughly 2 percent … More »

    Reuters - 23 hours ago
  • Budget for growth, savings, industrial development, middle class: Corporate India

    New Delhi, Feb 28 (IANS) Perceiving the union Budget 2015-16 as progressive, one which provides an enabling business environment for foreign investment, Corporate India feels it is aimed at growth, savings, industrial development, and for the middle class. Other measures will boost NRIs' … More »

    IANS - 23 hours ago
  • Petrol, diesel rates hiked by Rs.3 a litre each

    New Delhi, Feb 28 (IANS) Prices of petrol and diesel have been raised by Rs.3.18 and Rs.3.09 a litre (ex-Delhi), effective midnight, following a steep increase in international crude prices, Indian Oil ... … More »

    IANS - 23 hours ago
  • Gold prices to rise after budget keeps import duty high

    Gold prices to rise after budget keeps import duty high

    Gold premiums in top consumer India could jump to as much as $5 an ounce over world prices next week, from being almost at par, after Finance Minister Arun Jaitley surprised jewellers by maintaining import duty at a record level in Saturday's budget. Buying had been muted in the past few weeks in … More »

    Reuters - 23 hours ago
  • Budget 2015-16: Bankruptcy code in fiscal for easier business

    New Delhi, Feb 28 (IANS) India will have a comprehensive bankruptcy code making it easier for entrepreneurs to exit unviable ventures on the lines prevailing in the US, towards improving the ease of doing business, Finance Minister Arun Jaitely said Saturday. "Bankruptcy law reform, that brings … More »

    IANS - 23 hours ago
  • Higher corporate surcharge could fetch 35 percent more revenue

    New Delhi, Feb 28 (IANS) Finance Minister Arun Jailey hopes to rope in a significant 35 percent additional revenues by increasing the tax surcharge on the corporate sector, including a hike of 2 percentage points on the levy imposed for distribution of dividends. Against the revises estimate of … More »

    IANS - 23 hours ago
  • India Inc cheers corporate tax cut, simpler rules

    India Inc cheers corporate tax cut, simpler rules

    Indian businesses, recovering from years of sluggish growth, welcomed budget plans on Saturday that will cut the corporate tax rate and introduce a single national goods and services tax (GST) to replace a complex array of local duties. Executives said measures announced by Finance Minister Arun … More »

    Reuters - 23 hours ago
  • Sensex closes 141 points up, bank stocks zoom

    Mumbai, Feb 28 (IANS) In a volatile session, a benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), ended Saturday's trade up 141 points or 0.48 percent. The choppy session ... … More »

    IANS - 23 hours ago
  • Jaitley proposes introduction of new bill to curb black money

    New Delhi, Feb. 28 (ANI): Finance Minister Arun Jaitley on Saturday proposed the introduction of a bill for a new law in order to curb black money stashed abroad. … More »

    ANI - 23 hours ago
  • Govt. to establish electronic trade receivables discounting system

    New Delhi, Feb. 28 (ANI): Finance Minister Arun Jaitely, who presented the Union Budget for fiscal 2015-16 here today, said that a significant part of the working capital requirement of a MSME arises due ... … More »

    ANI - 23 hours ago
  • Wealth tax to be abolished with tax on 'super rich'

    New Delhi, Feb 28 (IANS) In a bid to remove "high-cost, low-yield taxation", Finance Minister Arun Jaitley Saturday proposed to abolish wealth tax and impose a 2 percent additional surcharge on the "super rich" to garner more funds. "As against a tax sacrifice of Rs.1,008 crore through these … More »

    IANS - 23 hours ago
  • Budget favours corporates: Himachal CM

    Shimla, Feb 28 (IANS) Himachal Pradesh Chief Minister Virbhadra Singh Saturday said the union budget has axed the aspirations of the common man and was meant for corporate houses. "The budget has imposed additional taxes of Rs.22,000 crore which will be a heavy burden on the common man while … More »

    IANS - 23 hours ago
  • Bonds may edge down as government eases up on fiscal targets

    Indian bonds are vulnerable to mild falls on Monday after the government unveiled a budget that seeks an additional year to meet its medium-term fiscal deficit target to give it time to focus on economic growth by ramping up investments. The federal budget also left major welfare schemes … More »

    Reuters - 23 hours ago
  • Budget sees $7 billion revenue from telecoms sector in 2016

    The government expects revenue of 428.66 billion rupees ($6.95 billion) from the telecoms sector, including from auctions of its airwaves, during the next fiscal year to March 2016, the annual budget showed on Saturday. The government has yet to give details on the spectrum auctions to be held … More »

    Reuters - 23 hours ago
  • Factbox - Corporate winners and losers from India's budget

    Factbox - Corporate winners and losers from India's budget

    REUTERS - Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign ... … More »

    Reuters - 23 hours ago

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