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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • EIH net up 31.5 percent in Q4

    Kolkata, May 30 (IANS) EIH Ltd, which operates the Oberoi chain of hotels across the country and overseas, reported net profit of Rs.47.91 crore for fourth quarter of 2014-15, registering 31.5 percent ... … More »

    IANS - 55 minutes ago
  • Modi doesn't believe in quick-fix solutions: Goyal

    New Delhi, May 30 (IANS) Power, Coal, New and Renewable Energy Minister Piyush Goyal on Saturday said Prime Minister Narendra Modi doesn't believe in "quick-fix populist" measures and was laying the foundation for a strong India. "He (Modi) does not believe in quick-fix, populist measures. A lot … More »

    IANS - 1 hour 1 minute ago
  • Andrew Yule declares first dividend since 1994

    Kolkata, May 30 (IANS) Diversified firm, Andrew Yule and Company Ltd (AYCL) on Saturday said it has declared its first dividend in 21 years for the fiscal year ended March 31, 2015 as the firm's cashflow situation has improved. It has announced a dividend of Rs. 5 per ordinary share. "This is the … More »

    IANS - 1 hour 31 minutes ago
  • Balmer Lawrie unveils air travel portal for armed forces

    Bengaluru, May 30 (IANS) Balmer Lawrie & Co Ltd of the petroleum and natural gas ministry has launched an air travel portal for armed forces personnel in partnership with the Controller General of Defence Accounts, the state-run enterprise said Saturday. The air travel module is an additional … More »

    IANS - 1 hour 37 minutes ago
  • Punjab clears Rs.6,000-crore civic amenities' projects

    Chandigarh, May 30 (IANS) Punjab Deputy Chief Minister Sukhbir Singh Badal on Saturday cleared projects worth Rs.6,000 crore to provide basic amenities in the state and fixed 2016 as the deadline for their completion, an official statement said here. Interacting with chief executive officers, … More »

    IANS - 2 hours 21 minutes ago
  • Larsen & Toubro profit down 27 pct but home market improving

    Larsen & Toubro profit down 27 pct but home market improving

    NEW DELHI/MUMBAI (Reuters) - Industrial group Larsen & Toubro reported a 27 percent drop in net profit in the three months through March, that nevertheless beat estimates, and said it was upbeat on prospects in its domestic market. On Saturday, L&T said while a subdued investment climate in the … More »

    Reuters - 2 hours 22 minutes ago
  • Data shows Indian growth outstrips China's but economists doubtful

    India's economy grew faster than China's in the quarter through March, data showed on Friday, but a sharp downward revision for the previous quarter fuelled doubts about the accuracy of a new method used to measure economic activity. Asia's third-largest economy grew 7.5 percent year-on-year in … More »

    Reuters - 2 hours 28 minutes ago
  • India-Sweden MoU on micro, small, medium industries approved

    New Delhi, May 30 (IANS) Ahead of President Pranab Mukherjee's visit to Sweden, the union cabinet on Saturday approved signing of an agreement between India and Sweden to promote cooperation in micro, small and medium enterprises (MSME) sector. "It provides a structured framework and enabling … More »

    IANS - 3 hours ago
  • Two cities' infrastructure along Delhi-Mumbai Industrial Corridor approved

    New Delhi, May 30 (IANS) A cabinet panel has approved building trunk infrastructure for two investment regions along the Delhi-Mumbai Industrial Corridor for Gujarat's Dholera Special Investment Region (DSIR) and Maharashtra's Shendra Bidkin Industrial Area (SBIA). The Cabinet Committee on … More »

    IANS - 3 hours ago
  • Greece open to compromise to seal deal this week - interior minister

    Greece's government is confident of reaching a deal with its creditors this week and is open to pushing back parts of its anti-austerity programme to make that happen, the country's interior minister said Saturday. Greece and its EU/IMF creditors have been locked in talks for months on a … More »

    Reuters - 4 hours ago
  • Here's how you can solve Apple iMessage service problem!

    Washington, May 30 (ANI): Apple has detailed an official solution for its iMessage service which has been recently crashing due to a small string of text characters, blocking users from reading incoming ... … More »

    ANI - 4 hours ago
  • Equity indices slip after five weeks but outlook positive

    Mumbai, May 30 (IANS) Poorer-than-expected corporate results and expiry of May series derivatives halted five straight weeks of gains for Indian equity indices during the five-day trading session ended ... … More »

    IANS - 5 hours ago
  • Government again issues land acquisition order

    Government again issues land acquisition order

    The government has issued an executive order for the third time to make it easier to buy farmland for large projects after failing to win parliamentary for a controversial land bill championed by Prime Minister Narendra Modi. The ordinance was approved at a cabinet meeting on Saturday chaired by … More »

    Reuters - 5 hours ago
  • Now, apply for SBI loans online

    New Delhi, May 30 (ANI): Customers can now apply online for home, car, education and personal loans from the State Bank of India (SBI). … More »

    ANI - 6 hours ago
  • Levi's and Google team up to create 'touch-sensitive' clothes

    Washington, May 30 (ANI): Renowned American clothing chain Levi's has joined hands with Google to bring you their touch-sensitive fabric inside your jeans. … More »

    ANI - 6 hours ago
  • India's economy grows more than seven percent in March quarter

    New Delhi, May 30 (ANI): India's economy grew faster than China's in the quarter through March, according to official data records. … More »

    ANI - 6 hours ago
  • Wall Street Weekahead: Strong sales could shift Ford, GM to higher gear

    Wall Street Weekahead: Strong sales could shift Ford, GM to higher gear

    Meeting those forecasts could be enough to lift the sector - among the cheapest in the market - putting the sting of product recalls and tepid recent growth in the rear view mirror. "This is going to be one of the best months ever," said David Kudla, chief investment strategist of Mainstay Capital … More »

    Reuters - 10 hours ago
  • Merkel appeals to Germans to back trade pact ahead of G7 meeting

    Merkel appeals to Germans to back trade pact ahead of G7 meeting

    Chancellor Angela Merkel tried to drum up support in Germany for the Transatlantic Trade and Investment Partnership (TTIP) ahead of the G7 summit she is hosting in June, saying in an interview on Saturday she hopes it will be finalised by 2017. Merkel told the Sueddeutsche Zeitung newspaper it was … More »

    Reuters - 12 hours ago
  • U.S. economy contracts in first-quarter; dollar hurts corporate profits

    The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly. The government on Friday slashed its gross domestic product estimate to show GDP … More »

    Reuters - 13 hours ago
  • Nike seen avoiding charges in football bribery probe - lawyers

    Nike Inc (NKE.N) may be able to avoid U.S. charges over any involvement in bribery payments to win football sponsorships, but could face penalties if U.S. prosecutors decide to clamp down on the global sportswear giant, lawyers with expertise in the subject said. Although Nike has not been named … More »

    Reuters - 16 hours ago
  • Airbus Group starts $150 million venture fund, Silicon Valley base

    Airbus Group starts $150 million venture fund, Silicon Valley base

    Airbus Group (AIR.PA) announced the creation of a $150 million venture capital fund and said it had hired a Google (GOOGL.O) executive to run a new centre in Silicon Valley as it seeks to wave a digital wand over its heavy-manufacturing culture. The planemaker said on Friday that Airbus Group … More »

    Reuters - 17 hours ago
  • Stocks, bond yields fall on Greece, U.S. data

    Global equity markets and bond yields fell on Friday, weighed by data that showed the U.S. economy contracted in the first quarter and by mixed signals from Greece's debt talks. European shares retreated on data showing private loan growth in the euro zone stalled in April, while the separate … More »

    Reuters - 17 hours ago
  • Gold edges up on softer dollar, uncertainty over Greece

    Gold edges up on softer dollar, uncertainty over Greece

    NEW YORK/LONDON (Reuters) - Gold edged up on Friday from the previous day's 2-1/2-week low, supported by a softer dollar and uncertainty over Greece's debt talks, but remained under pressure from expectations U.S. interest rates might rise soon. Spot gold (XAU=) was up 0.3 percent at $1,190.70 an … More »

    Reuters - 18 hours ago
  • Oil up more than one percent after U.S. inventory drop

    Oil up more than one percent after U.S. inventory drop

    Crude oil prices rose more than 1 percent on Friday after U.S. inventories fell for a fourth straight week, though a stronger dollar left prices set for a weekly drop. Oil saw steep falls earlier this week as a resurgent dollar weighed on the market amid concerns U.S. crude supplies may have … More »

    Reuters - 18 hours ago
  • Consumers must be empowered to file class action law suits: Jaitley

    New Delhi, May 29 (IANS) Empowering consumers to file class action law suits against illegal practices of sellers and fortifying consumer forums against the backdrop of huge growth of e-commerce is the need of the hour to protect consumers, Finance Minister Arun Jaitley said on Friday. He said … More »

    IANS - 20 hours ago
  • India Cements in black again

    Chennai, May 29 (IANS) Cement major India Cements Ltd on Friday said its bottom line has again turned black. In a regulatory filing in the BSE, the compnay said it closed last fiscal with a net profit ... … More »

    IANS - 20 hours ago
  • Sun TV Network net up

    Chennai, May 29 (IANS) Satellite channels broadcasting major Sun TV Network Ltd on Friday said it closed last fiscal with a higher profit and income. In a regulatory filing to the BSE, the company said ... … More »

    IANS - 20 hours ago
  • NTPC posts near 5 percent fall in Q4 net profit

    New Delhi, May 29 (IANS) State-run power generator NTPC on Friday posted a fourth quarter 2015 fall in net profit by 4.8 percent year-on-year at Rs.2,944 crore caused by lower revenues and other income, ... … More »

    IANS - 20 hours ago
  • Bharat Electronics net up 25 percent in 2014-15

    Bengaluru, May 29 (IANS) State-run Bharat Electronics Ltd (BEL) posted net profit of Rs.1,167 crore for 2014-15, registering 25 percent growth over Rs.932 crore in 2013-14. In a regulatory filing to the ... … More »

    IANS - 20 hours ago
  • U.S. economy contracts in Q1; dollar hurts corporate profits

    The U.S. economy contracted in the first quarter as it buckled under the weight of unusually heavy snowfalls, a resurgent dollar and disruptions at West Coast ports, but activity already has rebounded modestly. The government on Friday slashed its gross domestic product estimate to show GDP … More »

    Reuters - 21 hours ago
  • Suzlon Energy's Q4 losses widens to Rs.1,212.06 crore

    Kolkata, May 29 (IANS) Suzlon Energy's losses during the fourth quarter of 2014-15 widened to Rs.1,212.06 crore from Rs.603.45 crore in the corresponding timeperiod in 2014. The company's revenue, in the ... … More »

    IANS - 22 hours ago
  • Indian Oil shifts focus to expanding natural gas business

    Indian Oil Corp (IOC), the country's biggest refiner, is expanding its natural gas business as the south Asian nation, the world's third-largest carbon emitter, aims to cut its dependence on coal and oil. Thirteen of the world's 20 dirtiest cities are in India, with New Delhi taking top spot, a … More »

    Reuters - 22 hours ago
  • Workers at Tata Steel UK's biggest union vote to strike

    Workers at Tata Steel UK's biggest union vote to strike

    Tata Steel UK's biggest trade union voted on Friday to go on strike, setting the scene for the biggest labour action in the British steel sector in three decades. Members of the trade union Community voted 88 percent in favour of going on strike while the smaller GMB union said its members also … More »

    Reuters - 22 hours ago
  • India Inc says GDP figures point to recovery

    New Delhi, May 29 (IANS) India Inc on Friday described as "encouraging" the GDP figures released earlier in the day, saying these confirmed industry's assessment that the economy is showing signs of recovery. India's gross domestic product grew by 7.3 percent during 2014-15 from the 4.7 percent … More »

    IANS - 22 hours ago
  • SAIL's Q4 net profit declines 26 percent

    Kolkata, May 29 (IANS) India's largest steelmaker, Steel Authority of India (SAIL) posted a 26 percent fall in its net profit at Rs.334 crore during the fourth quarter of 2014-15 against Rs 453 crore in ... … More »

    IANS - 22 hours ago
  • Hindustan Powerprojects commissions first unit of MP plant

    New Delhi, May 29 (IANS) Hindustan Powerprojects announced on Friday it has commissioned the first 600 MW unit of its Anuppur thermal power plant in Madhya Pradesh, saying the company will take lead when the power sector goes on the upswing from 2016. "Hindustan Powerprojects successfully … More »

    IANS - 22 hours ago
  • Mahindra & Mahindra Q4 net declines 38.61 percent

    New Delhi, May 29 (IANS) Automotive company, Mahindra & Mahindra on Friday said its net standalone profit during the fourth quarter of 2014-15 declined by 38.61 percent at Rs.550.56 crore against profit ... … More »

    IANS - 22 hours ago
  • Reliance Capital net grows by 34 percent to Rs.1,001 crore

    Chennai, May 29 (IANS) Financial services conglomerate Reliance Capital Ltd on Friday said it closed last fiscal with 34 percent growth in net profit. The board has proposed nine percent dividend for equity ... … More »

    IANS - 23 hours ago
  • Sun Pharma misses profit estimates on Ranbaxy costs

    Sun Pharmaceutical Industries Ltd, India's largest drugmaker by sales, reported fourth-quarter profit well below analysts' expectations, hit by costs related to integrating smaller rival Ranbaxy Laboratories Ltd. Sun, run by billionaire Dilip Shanghvi, reported a net profit of 8.88 billion rupees … More »

    Reuters - 23 hours ago
  • Expect law on 101 waterways conversion by December: Official

    Kolkata, May 29 (IANS) Inland Waterways Authority of India (IWAI) is hoping that the central government will enact legislation by the end of 2015 to convert 101 waterways into national waterways. "I am hoping that the parliament will pass legislation by the end of December this year to convert 101 … More »

    IANS - 23 hours ago
  • India's 7.3 percent growth neck-and-neck with China's

    New Delhi, May 29 (IANS) India may have just fallen short of surpassing China as the fastest-growing emerging market economy in 2014-15, but its 7.3 percent growth is expected to have matched that of the Asian neighbour, according to official data released here Friday. Multilateral institutions … More »

    IANS - 23 hours ago
  • Neyveli Lignite to commission 1,250 MW projects in June

    Chennai, May 29 (IANS) Two power projects totalling 1,250 MW capacity promoted by integrated lignite mining and power generation company Neyveli Lignite Corporation Ltd (NLC) will go on stream next month, said a top company official. "The 2x500 MW coal based plant in joint venture with TANGEDCO … More »

    IANS - 23 hours ago
  • G7 agree in principle on China joining IMF's major league

    G7 agree in principle on China joining IMF's major league

    Finance chiefs from the Group of Seven industrial nations agreed on Friday that including China's renminbi in the International Monetary Fund's currency basket is desirable, but a technical review must be completed first. The inclusion of the renminbi, also known as the yuan, as part of the IMF's … More »

    Reuters - 23 hours ago
  • Jet Airways' net loss narrows to Rs.2,097.41 crore

    New Delhi, May 29 (IANS) Airlines major Jet Airways narrowed down its losses in 2014-15 to Rs. 2,097.41 crore compared to a loss of Rs.4,123 crore during 2013-14 even as its total revenue rose by over ... … More »

    IANS - 23 hours ago
  • Modi speeds up capital spending in April to push growth

    Prime Minister Modi ramped up spending on roads, railways and rural infrastructure in April to boost economic growth, after $19 billion in cuts brought public investment shuddering to a halt at the end of the last fiscal year. Modi, who completed one year in power this week, has vowed to raise … More »

    Reuters - 23 hours ago
  • Railways TCs' demands to be considered: Minister

    New Delhi, May 29 (IANS) The government on Friday said the demands of ticket-checking staff of the Indian Railways will be considered and the workforce will be better equipped to handle passengers. An official statement here cited the minister as having said that arrangements will be made to train … More »

    IANS - 23 hours ago
  • Indian Oil's Q4 net falls 33 percent

    New Delhi, May 29 (IANS) State-run Indian Oil Corp (IOC) on Friday said it has posted a 33 percent decline in net profit for the fourth quarter of 2014-15 at Rs.6,285 crore, caused by a fall in refining margins. The company had reported a net profit of Rs.9,389 crore in the corresponding quarter … More »

    IANS - Fri 29 May, 2015 7:44 PM IST
  • Jet Airways reports smaller full-year loss

    Jet Airways reports smaller full-year loss

    Jet Airways on Friday said it made a net loss of 21 billion rupees ($329 million) in the year ending in March, about half the size of the loss it made last year, after earning more in passenger revenues. For the final quarter of the year, Jet said it lost 17.29 billion rupees, down from last … More »

    Reuters - Fri 29 May, 2015 7:17 PM IST
  • Wall St opens marginally lower after U.S. GDP data

    REUTERS - U.S. stocks opened marginally lower on Friday after data showed that the economy contracted slightly less than expected in the first quarter. The Dow Jones industrial average fell 13.95 points, ... … More »

    Reuters - Fri 29 May, 2015 7:06 PM IST
  • Four multi-mode terminals to come up along National Waterway 1

    Kolkata, May 29 (IANS) The central government is in the process of setting up four multi-mode inland waterway terminals along the National Waterway 1 (NW1) in West Bengal, Uttar Pradesh and Jharkhand to facilitate road connectivity and provide linkage with the railway network, a senior official … More »

    IANS - Fri 29 May, 2015 6:38 PM IST

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