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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Uber rolls out cash payments in Kolkata, Bengaluru and Delhi

    Kolkata, Bengaluru and Delhi NCR - under its cash payment model of operation. Uber, which operates on a cashless model in several parts of the world, had started announcing cash payments mode during the beginning of the month. "With cash as another payment option, riders have more choice in terms … More »

    IANS - 24 minutes ago
  • China manufacturing contracts, euro zone and U.S. slows

    China's giant manufacturing industry contracted and euro zone and U.S. growth eased in August in data published on Tuesday, while the International Monetary Fund cut its forecast for world growth this year. "It's all consistent with a global economy which clearly is struggling to make any … More »

    Reuters - 29 minutes ago
  • Global factory growth at two-year low - PMI

    Global factory growth at two-year low - PMI

    Global factory activity expanded at its weakest pace in just over two years last month, even though discounted prices did drive a modest upturn in new orders, a business survey showed on Tuesday. JPMorgan's ... … More »

    Reuters - 30 minutes ago
  • More China worries hit stocks, oil

    More China worries hit stocks, oil

    World stocks and commodity prices dropped on Tuesday as poor Chinese data intensified fears about China's economic health and its effect on other economies. The S&P 500 fell more than 2 percent as surveys showed China's manufacturing sector shrinking at its fastest pace in three years and its … More »

    Reuters - 34 minutes ago
  • Wall Street slumps as weak China data stokes growth fears

    Wall Street slumps as weak China data stokes growth fears

    Wall Street slumped on Tuesday, pushing all three major indexes into negative territory for the year, after weak factory data from China heightened fears of a slowdown in the world's second-largest economy and its effect on global growth. The weak China data pushed down oil prices more than 4 … More »

    Reuters - 35 minutes ago
  • 'Labour shut down to hit normal life in Karnataka'

    Bengaluru, Sep 1 (IANS) Normal life will be affected on Wednesday across Karnataka in view of the day-long shut down called by trade unions in protest against the government's anti-labour policies and in support of their demands, a union leader said. "About 15 lakh (1.5 million) workers, including … More »

    IANS - 37 minutes ago
  • RBI seeks change in how banks set lending rates

    RBI seeks change in how banks set lending rates

    The Reserve Bank of India (RBI) issued draft guidelines on Tuesday for its proposed plan to change how banks calculate their lending rates, which would make them more responsive to monetary policy actions but would likely be opposed by the sector. Banks currently have a good degree of freedom in … More »

    Reuters - 38 minutes ago
  • India gives relief to foreign investors on MAT issue

    India gives relief to foreign investors on MAT issue

    India has waived retrospective imposition of a minimum alternative tax (MAT) affecting foreign funds, the Finance Minister said on Tuesday, a move that could resolve a dispute that had shaken investor confidence. Finance Minister Arun Jaitley said the government had accepted the recommendations of … More »

    Reuters - 39 minutes ago
  • Maruti-Suzuki launches hybrid Ciaz at Rs. 8.23 lakh

    India's first smart hybrid diesel vehicle equipped with modern technologies - at prices starting from Rs.8.23 lakh. "Through Ciaz SHVS (Smart Hybrid Vehicle by Suzuki), we are deploying technology to benefit the customer and the environment, both at the same time. Brand Ciaz has been one the … More »

    IANS - 1 hour 3 minutes ago
  • GM India to export cars to Mexico from next month

    New Delhi, Sep 1 (IANS) General Motors on Tuesday said that vehicle shipments from its India-based plants to Mexico will commence next month and sales there will begin in December, 2015. "In keeping with our commitment to the "Make in India" program, we are proud to produce exciting Chevrolet … More »

    IANS - 1 hour 9 minutes ago
  • Lower interest and fuel costs, accelerates August auto sales

    New Delhi/Chennai, Sep 1 (IANS) A decline in interest, inflation and fuel costs, coupled with an overall pick up in consumer sentiment, saw Indian automobile manufacturers come out with healthy sales figures for the last month on Tuesday. European car manufacturer Volkswagen's sales rose by 17 … More »

    IANS - 1 hour 17 minutes ago
  • China stock probes send shivers through investment community

    China stock probes send shivers through investment community

    Investigations by Chinese authorities into wild stock market swings are spreading fear among China-based investors, with some unsure if they are simply helping with inquiries or actually under suspicion, executives in the financial community said. Chinese fund managers say they have come under … More »

    Reuters - 1 hour 36 minutes ago
  • Gionee launches lifestyle range of smartphones

    New Delhi, Sep 1 (IANS) Chinese handset-maker Gionee on Tuesday launched its F series of lifestyle smartphones by introducing the F103 phone priced at Rs.9,999. The F103 comes power packed with 1.3 GHz ... … More »

    IANS - 1 hour 37 minutes ago
  • Oil prices to recover into 2016 - Reuters poll

    Oil prices to recover into 2016 - Reuters poll

    Oil prices have fallen too far, too fast and should recover gradually over the next year as supply growth slows and demand recovers, a Reuters poll showed on Tuesday. Benchmark North Sea Brent crude is likely to average $62.30 a barrel in 2016, up from an average so far this year of around $57.60, … More »

    Reuters - 1 hour 41 minutes ago
  • Weak China Aug factory, services point to further economic slowdown

    Weak China Aug factory, services point to further economic slowdown

    BEIJING/SHANGHAI (Reuters) - Activity in China's factory sector shrank at its fastest rate in at least three years in August as domestic and export orders tumbled, hitting global markets and increasing fears that the world's second-largest economy may be heading for a hard landing. Hurt by soft … More »

    Reuters - 1 hour 50 minutes ago
  • Tata Motors' August sales remain flat at 40,680 units

    Kolkata, Sep 1 (IANS) Vehicle sales during August for carmaker Tata Motors remained flat at 40,680 units as against 40,883 vehicles sold in the same month last year even though it recorded increase in unit sales in certain business segments. In August this year, the company's total passenger … More »

    IANS - 1 hour 59 minutes ago
  • Wall Street falls sharply after weak China data

    Wall Street falls sharply after weak China data

    Data showed that China's manufacturing sector shrank at its fastest pace in three years. China's official manufacturing Purchasing Managers' Index (PMI) fell to 49.7 in August from 50.0 in July. "The PMI was below 50, which is a psychologically important level and puts into real focus the fact … More »

    Reuters - 2 hours 7 minutes ago
  • Eset India appoints new country head

    New Delhi, Sep 1 (IANS) Eset, a global provider of security solutions for businesses and consumers, on Tuesday said that it has appointed Zakir Hussain Rangwala as its new country head. Prior to his promotion, Rangwala was national sales manager for enterprise and small and medium businesses … More »

    IANS - 2 hours 24 minutes ago
  • Oil falls more than 4 percent on weak Chinese data

    Oil falls more than 4 percent on weak Chinese data

    Oil prices fell sharply on Tuesday after official data showed China's manufacturing sector, one of the main engines powering the world's biggest energy consumer, contracted at its fastest pace in three years. The figures helped spur a retreat in oil prices after three days of hefty gains. "It was … More »

    Reuters - 2 hours 27 minutes ago
  • Falling Asian markets, macro data drowns Sensex

    Mumbai, Sep 1 (IANS) The slide in Asian markets, especially the continuous rout in Chinese bourses and below-expected macro data sobered investor's sentiments and sent the Indian equities markets plunging on Tuesday. Bearish sentiments were also witnessed at the wider 50-scrip Nifty of the … More »

    IANS - 3 hours ago
  • Jet fuel cut over 11 percent, non-subsidised LPG by Rs.25

    New Delhi, Sep 1 (IANS) With global crude in free fall, Indian Oil Corp on Tuesday cut aviation turbine fuel (ATF), or jet fuel, prices by a steep 11.7 percent. The state-run oil marketer also reduced ... … More »

    IANS - 3 hours ago
  • ZuperMeal to do doorstep delivery of healthy, fresh meals

    Mumbai, Sep 1 (IANS) Mumbai-based food aggreagator service firm ZuperMeal on Tuesday said that it had launched an app to aid doorstep delivery of healthy, fresh meals. "We have already touched a regular business of over 30 meals per day within a few weeks of launch. … More »

    IANS - 3 hours ago
  • TCS starts Japan-centric delivery centre in Pune

    Pune, Sep 1 (IANS) Global IT services firm Tata Consultancy Services (TCS) on Tuesday said that it has inaugurated a Japan-centric Delivery Centre (JDC) within TCS Sahyadri Park complex here. "Opening of this centre is a continuation of our investment and commitment to the Japan market. … More »

    IANS - 3 hours ago
  • India has 100.69 crore total telephone subscribers

    New Delhi, Sep 1 (IANS) The number of telephone subscribers in India increased from 100.20 crore at the end of May 2015 to 100.69 crore at the end of June, showing a monthly growth rate of 0.49 percent, data released by the Telecom Regulatory Authority of India (TRAI) said here on Tuesday. Urban … More »

    IANS - 3 hours ago
  • Banking operations to be hit by September 2 strike

    Chennai/Agartala/Bengaluru, Sep 1 (IANS) Banking and insurance operations in India will come to a grinding halt on Wednesday with around half-a-million bankers going on strike in protest against the centre's economic and labour policies, said union leaders. Around 75,000 branches will not work … More »

    IANS - 3 hours ago
  • Indian realty faces flat sales, stagnant prices next year: Moody's

    New Delhi, Sep 1 (IANS) India's largest realty firms will continue to experience a challenging operating environment over the next year characterised by weak cash flows, flat sales and stagnant prices, Moody's Investors Service said in a report on Tuesday. "India's largest property developers will … More »

    IANS - 3 hours ago
  • Liquor sales down, beer sales up in Kerala

    Thiruvananthapuram, Sep 1 (IANS) With the Kerala government enforcing its new liquor policy from the current fiscal that began April 1, the sales of liquor have come down while that of beer have gone up. According to the Kerala State Beverages Corporation, this drop was noticed during the April- … More »

    IANS - 4 hours ago
  • China, euro zone weaken despite world awash with cash

    China, euro zone weaken despite world awash with cash

    LONDON/BEIJING (Reuters) - China's giant manufacturing industry contracted while British and euro zone growth eased in August, rattling markets and reinforcing expectations interest rates may fall again or stay near zero for longer. Manufacturers across the world struggled, a series of surveys … More »

    Reuters - 5 hours ago
  • TVS Motor's August sales see one percent growth

    Chennai, Sep 1 (IANS) Two- and three-wheeler maker TVS Motor Company on Tuesday said it closed last month with one percent sales growth over the volumes in the same month last year. In a statement, the ... … More »

    IANS - 5 hours ago
  • Sun Pharma starts integrating opiates business in Australia

    Chennai, Sep 1 (IANS) India's Sun Pharmaceutical Industries Ltd. on Tuesday said it has started the process of integrating its opiates business in Australia. The company had completed the acquisition of ... … More »

    IANS - 5 hours ago
  • Nifty falls more than 2 percent, slips below 7,800

    Nifty falls more than 2 percent, slips below 7,800

    REUTERS - The Nifty fell more than 2 percent on Tuesday to near its lowest in about a year after HDFC Bank lowered its base rate by a hefty 35 basis points, sparking concerns other lenders would follow ... … More »

    Reuters - 5 hours ago
  • Sensex provisionally closes 587 points down

    Mumbai, Sep 1 (IANS) The slide in Asian markets and below-expected macro data sobered investor sentiments in the Indian equities markets on Tuesday, leading a barometer index to provisionally close 587 ... … More »

    IANS - 5 hours ago
  • IMF's Lagarde sees weaker than expected global economic growth

    IMF's Lagarde sees weaker than expected global economic growth

    Global economic growth is likely to be weaker than earlier expected, the head of the International Monetary Fund said on Tuesday, due to a slower recovery in advanced economies and a further slowdown in emerging nations. IMF Managing Director Christine Lagarde also warned emerging economies like … More »

    Reuters - 5 hours ago
  • China slowdown historic opportunity for India: Arvind Subramanian

    New Delhi, Sep 1 (IANS) Pointing to investment from companies like Foxconn of Taiwan and Xiaomi of China, Chief Economic Adviser (CEA) Arvind Subramanian on Tuesday said the slowdown in China is a "historic opportunity" to relaunch growth in India. profitable, India could become profitable but not … More »

    IANS - 6 hours ago
  • Gold up as dollar and shares retreat on China worries, Fed hike in focus

    Gold up as dollar and shares retreat on China worries, Fed hike in focus

    Gold rose nearly 1 percent on Tuesday as the dollar and global equities dropped on fresh signs of economic weakness in China and uncertainty over the timing of the Federal Reserve's first interest rate increase in nearly a decade. Activity in China's factory sector shrank at its fastest rate in at … More »

    Reuters - 6 hours ago
  • August manufacturing performance weakens; rebound expected: PMI

    Mumbai, Sep 1 (IANS) A leading international business survey on manufacturing on Tuesday showed a weaker expansion rate for both output and new orders for August 2015, but predicted a rebound in coming months. The Nikkei India Manufacturing PMI (Purchasing Manufacturers Index) for the last month … More »

    IANS - 6 hours ago
  • India to host World Packaging Congress

    Mumbai, Sep 1 (IANS) After a gap of 11 years, India will play host to the World Packaging Congress here this October. Organised by the Indian Institute of Packaging, an autonomous body under the ministry ... … More »

    IANS - 7 hours ago
  • Karbonn launches new budget smartphone

    New Delhi, Sep 1 (IANS) Domestic handset-maker Karbonn on Tuesday launched a new smartphone -- the Titanium S200 -- priced at Rs.4,999 in an exclusive partnership with Indian e-commerce portal Snapdeal. ... … More »

    IANS - 7 hours ago
  • Maruti Suzuki's August sales up 6.4 percent

    New Delhi, Sep 1 (IANS) Leading automobile manufacturer Maruti Suzuki on Tuesday reported a 6.4 percent increase in its sales for August, 2015. The automobile manufacturer's sales during July had risen by 20 percent with the company selling a total of 121,712 units. … More »

    IANS - 7 hours ago
  • Hyundai Motor India's August sales up 13.5 percent

    New Delhi, Sep 1 (IANS) Hyundai Motor India (HMIL) on Tuesday reported a 13.5 percent rise in total sales for August. The South Korean automobile manufacturer's total sales last month stood at 54,608 units ... … More »

    IANS - 7 hours ago
  • Competition Commission of India accuses Google of abusing search dominance

    The Competition Commission of India (CCI) has accused Google Inc(GOOGL.O) of abusing its dominant position in online search, people with knowledge of the matter said, which if proven could force the U.S. company to alter its practices in a key market or even pay a big fine. A preliminary report … More »

    Reuters - 7 hours ago
  • Eicher Motors logs 59 percent sales growth

    Chennai, Sep 1 (IANS) Two-wheeler maker Eicher Motors Ltd on Tuesday said it closed last month logging 59 percent higher sales. Eicher Motors said in a statement it sold 42,360 units last month, up from ... … More »

    IANS - 7 hours ago
  • Taj Hotels exits from Taj Palace Hotel Dubai

    New Delhi, Sep 1 (IANS) The Tata group-controlled Taj Hotels Resorts and Palaces has exited from managing the Taj Palace Hotel, Dubai, which is owned by the Juma Al Majid Group, after a 14-year partnership, a company statement said here on Tuesday. Located at Deira city, the 147-room Taj Palace … More »

    IANS - 7 hours ago
  • Foreign investors sell record amount of Indian shares in August

    Foreign investors sold a record amount of Indian shares in August, offloading even more than in the midst of the global financial crisis, as turbulent markets in China led many funds to reduce their holdings in riskier emerging markets. Foreign institutional investors sold a net 168.77 billion … More »

    Reuters - 8 hours ago
  • China stocks falter in giddy trade as weak PMIs heighten growth fears

    China stocks falter in giddy trade as weak PMIs heighten growth fears

    Chinese stocks got September off to a rocky ride on Tuesday, with main indexes tumbling 5 percent at one point as weak manufacturing data laid bare the daunting challenge faced by Beijing as it races to revive a stumbling economy. Investors largely ignored fresh stimulus measures unveiled by the … More »

    Reuters - 8 hours ago
  • Banks, insurance unions to strike work on September 2

    Chennai, Sep 1 (IANS) Employees of public sector banks and government-owned non-life insurance companies would go on strike on Wednesday to protest against the anti-trade union and worker policies of the central government, union leaders said on Tuesday. "The strike is against the anti-labour and … More »

    IANS - 9 hours ago
  • Jindal Steel coal mine in Australia to shut

    One of Australia's oldest coal mines on Tuesday said it was being shut by its Indian owner Jindal Steel and Power(JNSP.NS) as market conditions in the sector continue to deteriorate and financial pressures on producers mount. The closing of the Russell Vale colliery 100 kms (62 miles) south of … More »

    Reuters - 9 hours ago
  • Europe shares set to follow Asian losses as China PMIs stoke growth fears

    Europe shares set to follow Asian losses as China PMIs stoke growth fears

    Asian shares extended losses on Tuesday and European markets look set to follow after twin surveys showed China's manufacturing sector in the grip of its worst slump in several years, raising fresh fears about the health of its economy. China's official Purchasing Managers' Index (PMI) fell to … More »

    Reuters - 10 hours ago
  • Australia weather bureau says 2015 El Nino is the strongest since 1997–98

    The Australian Bureau of Meteorology said the recently emerged El Nino is now the strongest such event in nearly 20 years. Tropical Pacific Ocean temperature anomalies are at the highest levels since the El Nino that occurred between 1997 and 1998, the Australian climate bureau said on Tuesday. … More »

    Reuters - 10 hours ago
  • India's factory growth slowed in August despite deep discounting

    India's factory growth slowed in August despite deep discounting

    Falling factory-gate prices are likely to filter into India's wider inflation rate, already at a record low of 3.78 percent in July, giving the Reserve Bank of India room to cut interest rates again, possibly as early as this month. "As inflation concerns fade and demand growth loses momentum, … More »

    Reuters - 10 hours ago

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