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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Lok Sabha passes changes to Mines and Minerals Act

    New Delhi, March 3 (IANS) The Mines and Minerals (Development and Regulation) Amendment Bill, 2015, seeking to introduce the system of auction of mines to enhance transparency in mineral allocations was passed in Lok Sabha on Tuesday. The bill, which will replace an ordinance promulgated in … More »

    IANS - 24 minutes ago
  • Wall St falls from latest records; auto sales soft

    Wall St falls from latest records; auto sales soft

    U.S. stocks fell on Tuesday after a weak auto sales report pulled the Dow and S&P back from their latest records and the Nasdaq dipped below 5,000 the day after scaling the milestone level for the first time in 15 years. "The air gets a little thin up at new highs and you need a driver to keep it … More »

    Reuters - 43 minutes ago
  • Suzlon bets on surge in clean energy demand to fuel turnaround

    Suzlon bets on surge in clean energy demand to fuel turnaround

    A surge in demand for renewable energy in India coupled with a capital injection from the country's second-richest man will help wind turbine maker Suzlon Energy turn profitable after six years of losses, its chairman said. Suzlon has been under pressure for a few years due to a slowdown in global … More »

    Reuters - 1 hour 37 minutes ago
  • Saudi Arabia ups official oil prices amid signs of stronger demand

    Saudi Arabia raised the official selling prices for its oil deliveries to Asia and the United States on Tuesday, in the latest signal OPEC's largest exporter is seeing signs of stronger demand. The Kingdom ... … More »

    Reuters - 1 hour 47 minutes ago
  • Chinese team scouts for business with India

    New Delhi, March 3 (IANS) A visiting delegation from China's Tianjin region, located near Beijing, is exploring opportunities to do business with Indian firms in diverse sectors. "We want to strengthen cooperation with India by participating in each other's trade fairs and exchanging delegations," … More »

    IANS - 2 hours 4 minutes ago
  • Gold above $1,200/oz but U.S. rate outlook caps gains

    Gold above $1,200/oz but U.S. rate outlook caps gains

    Gold rose on Tuesday as positive technical signals helped the metal to recover from early losses that briefly pulled it below $1,200 an ounce. Spot gold was up 0.3 percent at $1,210.36 an ounce at 1254 GMT, having dropped by nearly 1 percent to a session low of $1,194.90. "Stops were triggered … More »

    Reuters - 2 hours 11 minutes ago
  • Sahara's Grosvenor House hotel in London put up for sale

    Sahara's Grosvenor House hotel in London put up for sale

    NEW DELHI/MUMBAI (Reuters) - London's landmark Grosvenor House hotel has been put up for sale after its owner, part of troubled Indian conglomerate Sahara which has been trying to raise funds for its jailed boss Subrata Roy, was placed into administration by creditors. Consultant Deloitte said on … More »

    Reuters - 2 hours 58 minutes ago
  • Maharashtra clamps down on beef trade through new act

    Maharashtra clamps down on beef trade through new act

    Maharashtra has extended a ban on killing cows to bulls and bullocks, a state government source said, in a blow to meat traders who are now considering legal action. President Pranab Mukherjee on Monday give his assent to the long-pending Maharashtra Animal Preservation Bill, making it a law and … More »

    Reuters - 3 hours ago
  • Vistara gets 3-month exemption from route dispersal guidelines

    New Delhi, March 3 (IANS) The government Tuesday said that it has exempted Tata's full service passenger carrier Vistara from operating flights to financially unviable regions under the route dispersal guidelines for 3 months. According to Minister of State (MoS) for Civil Aviation Mahesh Sharma, … More »

    IANS - 3 hours ago
  • Wall St pulls back from record levels

    U.S. stocks opened lower on Tuesday, with the Dow and S&P 500 pulling back from record highs a day after the Nasdaq topped 5,000 for the first time in 15 years. The Dow Jones industrial average fell 37.09 ... … More »

    Reuters - 3 hours ago
  • Ports, highways to contribute 2 percent to GDP: Minister

    New Delhi, March 3 (IANS) The government said on Tuesday that it is in the process of developing 12 major ports in the country, which it expects will contribute about two percent to the gross domestic product (GDP), along with the highways sector. According to Road Transport, Highways and Shipping … More »

    IANS - 3 hours ago
  • Equifax launches new credit risk score

    Mumbai, March 3 (IANS) Consumer and commercial information solutions provider Equifax India on Tuesday announced the launch of its new risk score system 'TM ERS V2' which, it said, will assist banks in account acquisition and customer management. According to the company, the new offering … More »

    IANS - 3 hours ago
  • IndiGo launches new website to enhance customer experience

    New Delhi, March 3 (IANS) Budget passenger carrier IndiGo said on Tuesday that it has launched its new website which is designed to enhance customer experience. According to the airline, the new redesigned website, operational since March 1, is aimed at improving user friendliness and appeal. The … More »

    IANS - 4 hours ago
  • Maruti Suzuki's diesel cars sales decline

    Gurgaon, March 3 (IANS) Sale of Maruti Suzuki diesel cars went down by over 6 percent in February as compared to the same period last year, an official said on Tuesday. Maruti sold 118,551 cars in the last month in total as compared to 109,104 in February 2014, a company spokesperson said here. … More »

    IANS - 4 hours ago
  • Taxi group Ola steps up expansion drive

    Taxi group Ola steps up expansion drive

    Ola, India's largest online taxi business, will more than double its reach by expanding into 200 cities after this week's acquisition of rival TaxiForSure handed it control of more than 80 percent of the country's organised cab market. The company aims to capitalise on India's low level car … More »

    Reuters - 4 hours ago
  • eBay India ties up with SMEcorner.com

    New Delhi, March 3 (IANS) eBay India has partnered with SMEcorner.com, the online platform for small and medium enterprises (SME), a company statement said here on Tuesday. Our aim is to narrow the gap between SME enterprises and lenders by guiding and providing them access to avenues to meet … More »

    IANS - 4 hours ago
  • Keep FRBM Act aloof from Finance Bill 2015: Sinha

    Kolkata, March 3 (IANS) Senior BJP leader and former union finance minister Yashwant Sinha said here on Tuesday that the Fiscal Responsibility and Budget Management Act, 2003 (FRBM Act) should not be amalgamated with the Finance Bill 2015. "The FRBM Act was instrumental in bringing the fiscal … More »

    IANS - 4 hours ago
  • Goa ore exporters slam union budget

    Panaji, March 3 (IANS) Goa's mining industry, non-operational for nearly two years now, has slammed the union budget for not having the "required policy direction" to restart the multi-billion dollar industry in the state. In a statement issued here on Tuesday, the Goa Mineral Ore Exporters … More »

    IANS - 5 hours ago
  • Three leading brokers nabbed in NSEL scam

    Mumbai, March 3 (IANS) Three top brokers here were arrested on Tuesday for their alleged involvement in the multi-crore-rupees National Spot Exchange Ltd. (NSEL) scam, official sources said. Mumbai police's ... … More »

    IANS - 5 hours ago
  • Andhra urged to form separate food processing policy

    Hyderabad, March 3 (IANS) Apex trade association Assocham has urged the Andhra Pradesh government to frame a separate policy for the food processing sector to establish supply lines needed for perishable agriculture products. "The state government must enact a policy that cuts the supply lines in … More »

    IANS - 5 hours ago
  • Air fares remain within fare bucket: Minister

    New Delhi, March 3 (IANS) The government said on Tuesday that the air fares remained well within the fare bucket uploaded by the airlines on their respective websites. According to Minister of State (MoS) for Civil Aviation Mahesh Sharma, the Directorate General of Civil Aviation (DGCA) has set up … More »

    IANS - 5 hours ago
  • '1.7 bn women in emerging economies do not own mobile phones'

    New Delhi, March 3 (IANS) Over 1.7 billion females in low-and middle-income countries do not own mobile phones and women on average are 14 percent less likely to own a mobile phone than men -- creating a gender gap of 200 million fewer women than men owning mobile phones, a report said here on … More »

    IANS - 5 hours ago
  • Volvo selling up to $300 mln worth of Eicher shares

    Volvo selling up to $300 mln worth of Eicher shares

    MUMBAI/STOCKHOLM (Reuters) - Truck maker Volvo is looking to sell $250 million worth of shares in Eicher Motors, with an option to increase the sale to up to $300 million, according to a term sheet seen by Reuters on Tuesday. A Volvo spokeswoman in Stockholm declined to comment. Volvo owns 8.4 … More »

    Reuters - 5 hours ago
  • GST by April 1, 2016 challenging task: Yashwant Sinha

    Kolkata, March 3 (IANS) Senior BJP leader and former finance minister Yashwant Sinha on Tuesday expressed doubt over the April 1, 2016, deadline to implement the Goods and Services Tax (GST). "Implementation of the GST on April 1 will be a very challenging task," he said at an event organised by … More »

    IANS - 5 hours ago
  • AAI has developed 49 non-metro airports: Minister

    New Delhi, March 3 (IANS) The government Tuesday said that the state-run Airports Authority of India (AAI) had developed 49 non-metro airports so far. According to Minister of State (MoS) for Civil Aviation ... … More »

    IANS - 6 hours ago
  • Nifty touches new high, crosses 9,000 mark

    Mumbai, March 3 (IANS) Continuing with the post-budget euphoria, the wider 50-scrip Nifty of the National Stock Exchange (NSE) Tuesday breached the 9,000-point mark in the intra-day trade for the first ... … More »

    IANS - 6 hours ago
  • Sun Pharma to buy Glaxo's opiates business in Australia

    Sun Pharmaceutical Industries Ltd(SUN.NS), India's largest drugmaker by sales, said on Tuesday it has agreed to buy GlaxoSmithKline's(GSK.L) opiates business in Australia to strengthen its pain management portfolio. The business consists of analgesics made from raw materials found in opium poppy … More »

    Reuters - 6 hours ago
  • Sceptical Audi returns to electric sports cars

    Sceptical Audi returns to electric sports cars

    More than two years since abandoning electric cars, Audi has returned with the R8 e-tron, in a move that looks more like an attempt to keep its options open than a full conversion to the technology. Audi, the flagship brand of German carmaker Volkswagen (VOWG_p,DE), has been reluctant to embrace … More »

    Reuters - 6 hours ago
  • India will not cut multi-billion dollar food handout programme - PM

    India will not cut multi-billion dollar food handout programme - PM

    India will not scale down its multi-billion dollar food welfare programme that promises ultra-cheap rice and wheat to most of its people, Prime Minister Narendra Modi told lawmakers in parliament on Tuesday. "The government has not decided to reduce the coverage under food security from 67 … More »

    Reuters - 6 hours ago
  • Strong German retail sales keep European shares near seven-year highs

    Strong German retail sales keep European shares near seven-year highs

    European shares rose close to seven-year highs on Tuesday as better than expected German retail sales further buoyed investors days before the European Central Bank kicks off a trillion-euro bond buying programme. The gains follow a rise in Asia and another record day on the Wall Street. German … More »

    Reuters - 7 hours ago
  • IIT-Kharagpur launches research project for urban areas

    Kolkata, March 3 (IANS) Experts at the Indian Institute of Technology, Kharagpur, have launched a Rs. 25 crore project aimed at transforming and enhancing living conditions in cities through inter-disciplinary research and new technologies. Christened 'Future Of Cities', the mammoth project, … More »

    IANS - 7 hours ago
  • Zuckerberg willing to work with Google on Global Internet Access

    Washington, March 03 (ANI): Facebook CEO Mark Zuckerberg has indicated a willingness to work with Google on Global Internet Access at Mobile World Congress (MWC) in Barcelona by saying that connecting ... … More »

    ANI - 7 hours ago
  • Nifty touches all-time high, crosses 9,000 mark

    Mumbai, March 3 (IANS) Continuing with the post-budget euphoria, the wider 50-scrip Nifty of the National Stock Exchange (NSE) breached the 9,000-point mark for the first time on Tuesday. The Nifty touched ... … More »

    IANS - 7 hours ago
  • Japan makes significant contribution in global healthcare through technology and support

    Yokosuka/Mumbai, Mar.3 (ANI): Japan's electronics company Toshiba is providing sanitary solutions. … More »

    ANI - 8 hours ago
  • Nifty hits record high above 9,000; RIL jumps

    Nifty hits record high above 9,000; RIL jumps

    The Nifty rose to a record high on Tuesday, led by gains in Reliance Industries after CLSA said the conglomerate could report a record profit for the fourth quarter. The 50-share index rose as much as ... … More »

    Reuters - 8 hours ago
  • 2014 flydubai profits up 12.3 percent, year-on-year revenue also up

    Thiruvananthapuram, Mar.3 (ANI): In its fifth year of operation, flydubai today announced its annual results for 2014 and reported a net profit of AED 250 million (USD 68 million) an increase of 12.3 percent ... … More »

    ANI - 8 hours ago
  • ONGC organizes cultural heritage festival in Tripura

    Agartala, Mar.3 (ANI):A two-day tribal cultural heritage festival was organized at Nazrul Kalakshetra auditorium in Agartala to promote the tribal culture of the state. … More »

    ANI - 8 hours ago
  • Bharti Airtel, China Mobile tieup for evolving mobile technology

    New Delhi, March 3 (IANS) Bharti Airtel has entered into a strategic collaboration with China Mobile under which the two companies will work towards the growth of the LTE (long term evolution) ecosystem and evolving mobile technology standards, a company statement said here Tuesday. A Memorandum … More »

    IANS - 8 hours ago
  • Crucial auction of telecom spectrum kicks off Wednesday

    New Delhi, March 3 (IANS) The finance ministry is expected to closely watch the e-auction of radio frequency spectrum, our airwaves, for telecom operators that commences Wednesday, seen as crucial for the government to be able to meet its fiscal deficit target of 4.1 percent of GDP. A mock auction … More »

    IANS - 8 hours ago
  • Barclays takes $1.2 billion charge as FX settlement looms

    Barclays takes $1.2 billion charge as FX settlement looms

    Barclays took a 750 million pound ($1.2 billion) charge in the fourth quarter as it prepares to settle allegations its traders manipulated foreign exchange markets, overshadowing the bank's efforts to slash costs and boost profits. Past conduct problems continue to dog Barclays Chief Executive … More »

    Reuters - 8 hours ago
  • BlackBerry unveils new mid-market Leap smartphone

    BlackBerry unveils new mid-market Leap smartphone

    BARCELONA/TORONTO (Reuters) - BlackBerry unveiled a new mid-market smartphone on Tuesday dubbed the BlackBerry Leap that is set to replace the Z3 device launched a year ago, in a move to woo buyers in certain emerging markets where BlackBerry still has a fairly large client base. The Waterloo, … More »

    Reuters - 9 hours ago
  • RBI chief says cannot cut rates to counter foreign inflows - media

    RBI chief says cannot cut rates to counter foreign inflows - media

    Reserve Bank of India Governor Raghuram Rajan said the central bank could not afford to cut interest rates to reduce foreign flows into the country because of high inflation, according to a domestic media report. "We have got an avalanche of capital inflows. Our problem is we also have high … More »

    Reuters - 9 hours ago
  • Bharti Airtel, China Mobile to collaborate on 4G

    Top telecommunications carrier Bharti Airtel Ltd said it would collaborate with China Mobile Ltd on growing fourth-generation mobile data services. The two companies will also work on a joint strategy ... … More »

    Reuters - 9 hours ago
  • India widens oil leaks probe to defence ministry; security concerns grow

    India has widened an investigation into leaks of confidential documents from its oil ministry to include the defence ministry, raising fears that other secrets vital to national security may have fallen into the wrong hands. The scandal has engulfed the oil ministry since the arrest two weeks ago … More »

    Reuters - 9 hours ago
  • Apple denies exploiting workers at Chinese factories, claims working conditions 'on the up'

    Melbourne, March 03 (ANI): Apple has reportedly denied reports that said workers at its factories are paying huge sums of money to produce goods and are being subjected to inhuman work conditions. … More »

    ANI - 9 hours ago
  • Australia's RBA holds rates, leaves door open for cut

    Australia's RBA holds rates, leaves door open for cut

    Australia's central bank held its cash rate steady on Tuesday to confound calls for a cut and sending the local dollar sharply higher, though it did leave the door wide open for an easing at future policy meetings. The currency jumped half a U.S. cent after the Reserve Bank of Australia (RBA) said … More »

    Reuters - 9 hours ago
  • Gold recovers as dollar slips, U.S. rate hike outlook caps gain

    Gold recovers as dollar slips, U.S. rate hike outlook caps gain

    Gold edged higher on Tuesday, recovering from early losses that pulled it briefly below $1,200 an ounce, as the dollar came off an 11-year peak against a basket of currencies. Gold fell the most in five months in February, with the Federal Reserve seen to be set to lift rates this year for the … More »

    Reuters - 9 hours ago
  • Saudi king keeps close hand on oil in remodelling strategic team

    Saudi Arabia's subtle change of energy policymaker line-up since the accession of new King Salman in late January appears to give the monarch's inner circle a firmer hand on the kingdom's oil strategy than previous rulers have enjoyed.     The most notable change was the promotion of the king's … More »

    Reuters - 10 hours ago
  • Sharp planning to tap banks for second bailout in three years

    Sharp planning to tap banks for second bailout in three years

    Japan's loss-making Sharp Corp will seek new funds for further restructuring from its two main lenders, a source with direct knowledge of the matter said, with a debt-to-equity swap seen by bankers as the most feasible option. Fierce competition from Apple Inc, Samsung Electronics Co as well as … More »

    Reuters - 10 hours ago
  • Now, get zip-line tour through Amazon Jungle on Google Street View

    Washington, Mar. 03 (ANI): Google Maps' Street View now allows people to travel through the Amazon jungle via zip-line. … More »

    ANI - 10 hours ago

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