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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Sensex marginally down; oil and gas stocks up

    Mumbai, July 2 (IANS) A day after it gained 240 points on the back of positive macro economic data, a barometer index of the Indian equity markets was trading marginally down during the late afternoon ... … More »

    IANS - 21 minutes ago
  • Panasonic launches new smartphone

    New Delhi, July 2 (IANS) Electronics major Panasonic's India arm on Thursday launched its new octacore processor-powered smartphone P55 NOVO at a price tag of Rs.9,290. The phone is also integrated with Peel Smart Remote app which turns the smartphone into a universal home control. "With consumer … More »

    IANS - 23 minutes ago
  • India to spend $8 billion to boost irrigation, reduce dependence on monsoon

    NEW DELHI/MUMBAI (Reuters) - India has approved spending of 500 billion rupees ($7.9 billion) over five years to expand irrigation in rural areas to boost crop productivity and it also plans an online agricultural market to help farmers get better prices for their produce. A total of 53 billion … More »

    Reuters - 42 minutes ago
  • Pan-India number portability from July 3: Vodafone

    New Delhi, July 2 (IANS) Aligning with the government's mandate to roll-out pan-India mobile number portability (MNP) from July 3, telecom service provider Vodafone India is all set to comply with the measure, the company said on Thursday. The national MNP service facilitates customers to carry … More »

    IANS - 53 minutes ago
  • Videocon launches new budget smartphone

    New Delhi, July 2 (IANS) Indian consumer electronics and home appliances major Videocon on Thursday launched Z51 Nova+ smartphone at a price tag of Rs.5,799. The smartphone, backed by a powerful 1.2 GHz Quadore processor coupled with 1-GB RAM, will run on Android KitKat. Targeting these consumers … More »

    IANS - 1 hour 7 minutes ago
  • Ashraf ElArman new managing director of Xerox India

    New Delhi, July 2 (IANS) American multinational document management corporation Xerox on Thursday announced the appointment of Ashraf ElArman as managing director of Xerox India. ElArman will take over on Thursday and be responsible for business development and driving growth. "Ashraf will be … More »

    IANS - 1 hour 11 minutes ago
  • Government close to appointing new heads of state-run banks - RBI chief Rajan

    Government close to appointing new heads of state-run banks - RBI chief Rajan

    Reserve Bank of India Governor Raghuram Rajan said on Thursday the government would soon appoint heads of state-run banks given the importance of acting quickly. India, which is trying to reform the country's banking sector, is seeking new chief executives for five state-run banks that are … More »

    Reuters - 1 hour 23 minutes ago
  • Sensex marginally in the red; auto stocks gain

    Mumbai, July 2 (IANS) A day after it gained 240 points on the back of positive macro economic data, a barometer index of the Indian equity markets was trading marginally in the red during the mid-afternoon ... … More »

    IANS - 1 hour 47 minutes ago
  • Arvind signs licensing agreement to bring Aeropostale to India

    REUTERS - Indian clothes manufacturer Arvind Ltd said on Thursday one of its units had signed a licence agreement with Aeropostale Inc , making it the latest international fashion brand to plan a launch ... … More »

    Reuters - 1 hour 51 minutes ago
  • Bajaj Auto's June sales up eight percent

    New Delhi, July 2 (IANS) Two-and three-wheeler manufacturer Bajaj Auto on Thursday reported an increase of eight percent in its monthly sales for June, which stood at 331,317 units from 305,465 units in the corresponding period of the last year. According to the company, its motorcycle sales … More »

    IANS - 1 hour 53 minutes ago
  • RBI chief Rajan says government in talks over capital for lenders

    The Reserve Bank of India (RBI) Governor Raghuram Rajan said the government was in talks with the central bank about injecting capital to lenders, while noting it was important to ensure funding for infrastructure projects remain on track. Turning to the ongoing Greece situation, Rajan said … More »

    Reuters - 1 hour 54 minutes ago
  • India's $100 billion solar push draws foreign firms as locals take backseat

    India's $100 billion solar push draws foreign firms as locals take backseat

    NEW DELHI/MUMBAI (Reuters) - India's $100 billion push into solar energy over the next decade will be driven by foreign players as uncompetitive local manufacturers fall by the wayside, no longer protected by government restrictions on the sector. The money pouring into India's solar industry is … More »

    Reuters - 2 hours 6 minutes ago
  • Oil prices edge up after sliding on U.S. stock build

    Oil prices edge up after sliding on U.S. stock build

    Oil prices edged up on Thursday, partially recovering from price falls of 2.5 to 4 percent a day earlier as U.S. stockpiles rose for the first time in months on the back of high production. Following a 4.2-percent drop on Wednesday, front-month U.S. crude futures were trading at $57.15 per barrel … More »

    Reuters - 2 hours 32 minutes ago
  • Asia stocks rise for third day though Greece, China concerns weigh

    Asia stocks rise for third day though Greece, China concerns weigh

    Asian stocks rose for a third consecutive day on Thursday though widening cracks in Chinese stocks and Greece's standoff with its creditors capped gains while the dollar was bolstered by upbeat U.S. economic data. Investor sentiment globally was remain cautious in the coming weeks amid uncertainty … More »

    Reuters - 3 hours ago
  • Greece's Tsipras digs in against bailout

    ATHENS/BRUSSELS (Reuters) - A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal, wrecking any prospect of repairing broken relations with European Union partners before a referendum on Sunday that may decide Greece's future in Europe. Less than … More »

    Reuters - 3 hours ago
  • China stocks retreat despite new moves to stave off crash

    China stocks retreat despite new moves to stave off crash

    Before the market opened, China's securities regulator relaxed rules on using borrowed money to speculate on stock markets, the latest in a flurry of government measures aimed at stemming two weeks of panic selling that is posing a growing risk to the world's second-largest economy. On Wednesday … More »

    Reuters - 3 hours ago
  • IMF's Lagarde says Greece must reform before debt relief

    One day after Greece became the first developed economy to default on a loan with the International Monetary Fund, the head of the international lender on Wednesday suggested Greece should move to reform its economy before its European creditors give it a break on its debt. In an interview with … More »

    Reuters - 4 hours ago
  • Europe's crisis will linger till Euro exists

    A great economic experiment began in 1951 with the formation of the European Coal and Steel Community. It was an attempt to make war within Europe impossible by establishing free trade in coal and steel, eliminating all tariffs and restrictions on cross border economic shipments. In 1957, the … More »

    IANS - 4 hours ago
  • Indian equities open lower in morning trade

    Mumbai, July 2 (IANS) A benchmark index for Indian equities, the sensitive index (Sensex) of the Bombay Stock Exchange (BSE), on Thursday opened lower than previous day's close and was trading at 28,039.82 ... … More »

    IANS - 5 hours ago
  • Indian businesses turn sceptical on Modi's landmark tax reform

    For years Indian businesses have lobbied for a nationwide sales tax, hoping to replace a chaotic structure that inflates costs and halts their trucks at state borders for duty payments, and to unify the country into one of the world's largest single markets. India's top business groups are now … More »

    Reuters - 7 hours ago
  • Dollar takes centre stage as data looms, Greek worries fester

    The dollar stayed bid early in Asia on Thursday as the market geared up for a deluge of U.S. data that could back expectations for the Federal Reserve to lift interest rates sooner rather than later. Prime Minister Alexis Tsipras on Wednesday urged Greeks to reject an international bailout deal, … More »

    Reuters - 9 hours ago
  • Jaguar Land Rover signs partnership to build cars in Austria

    Luxury carmaker Jaguar Land Rover [TAMOJL.UL] has signed a contract to build some vehicles in Austria, it said on Thursday, a further expansion away from its UK manufacturing base. The brand, owned by India's Tata Group since 2008, opened its first overseas manufacturing plant in China in October … More »

    Reuters - 10 hours ago
  • Manufacturing to remain slow: HSBC index

    Mumbai, July 1 (IANS) Future manufacturing may remain sluggish in India due to declining output and new order flow, including from overseas and fall in order-to-inventory ratio while robust capital goods growth is a glimmer of hope, says HSBC Purchasing Manufacturers Index (PMI) released on … More »

    IANS - 15 hours ago
  • Oil slides after U.S. stockpile build; Greece, Iran in focus

    Oil slides after U.S. stockpile build; Greece, Iran in focus

    The dollar's rally on Greece's debt default, Iran's renewed efforts to reach a nuclear deal with the West to freely resume its crude exports, and signs of OPEC output at three-year highs, further weighed on the market. The U.S. Energy Information Administration (EIA) said crude inventories rose by … More »

    Reuters - 15 hours ago
  • Global stocks rally on hopes for Greek deal, dollar gains

    Global stocks rally on hopes for Greek deal, dollar gains

    Global equity markets jumped and safe-haven bonds fell on Wednesday after Greece's prime minister signaled he was prepared to accept the bulk of a bailout offer, while stronger-than-expected data on private U.S. jobs growth bolstered the dollar. Prime Minister Alexis Tsipras told international … More »

    Reuters - 16 hours ago
  • Asian factory growth stays weak, Europe and U.S. sluggish

    Asian factory growth stays weak, Europe and U.S. sluggish

    Global manufacturing growth slowed last month with most Asian economies remaining weak, while Greece's woes kept euro zone factories in check and U.S. manufacturing turned in a mixed performance, business surveys showed on Wednesday. "The growth of manufacturing output remained subdued during the … More »

    Reuters - 16 hours ago
  • Ratan Tata invests in Ola

    Bangalore/Kolkata, July 1 (IANS) App-based transportation aggregator Ola on Wednesday said Tata Sons chairman emeritus Ratan Tata has invested in the company in his personal capacity. "It is our honour to have Ratan Tata onboard as an investor. Ola said Tata's "strong inclination towards … More »

    IANS - 17 hours ago
  • India Inc lauds launch of Digital India

    New Delhi, July 1 (IANS) India Inc on Wednesday came out unanimously in fulsome praise of the Digital India initiative launched here by Prime Minister Narendra Modi. The Federation of Indian Chambers of Commerce and Industry (FICCI) described the launch as "digital transformation" for the economy. … More »

    IANS - 17 hours ago
  • PM urges Indian IT to build credible security systems

    New Delhi, July 1 (IANS) Describing cyber-related risks as a global threat, Prime Minister Narendra Modi on Wednesday called upon India's IT community to serve the entire world by building credible cyber-security systems. "I dream of a digital India where high-speed digital highways unite the … More »

    IANS - 17 hours ago
  • SC turns down gas regulator's plea to determine tariff

    New Delhi, July 1 (IANS) Companies supplying gas are now free to set their own tariffs - both network tariff and compression charges for CNG, ruled the Supreme Court on Wednesday as it turned down a plea by the Petroleum and Natural Gas Regulatory Board (PNGRB) to regulate the prices of inter-city … More »

    IANS - 18 hours ago
  • Wall Street higher on Greece hopes, strong U.S. data

    Wall Street higher on Greece hopes, strong U.S. data

    By Sweta Singh REUTERS - U.S. stocks rose on Wednesday after Greece's prime minister signaled he was prepared to accept most of creditors' bailout terms and a raft of U.S. data pointed to a stronger economy. ... … More »

    Reuters - 18 hours ago
  • Fiat Chrysler to start Jeep production in India from 2017

    Fiat Chrysler to start Jeep production in India from 2017

    Fiat Chrysler (FCHA.MI) will invest $280 million to begin Jeep production in India from 2017 through an expanded joint venture with Tata Motors (TAMO.NS), the carmaker said on Wednesday. Fiat Chrysler Chief Executive Sergio Marchionne is pursuing ambitious sales targets for Jeep and other group … More »

    Reuters - 18 hours ago
  • Top level changes at General Motors India

    Chennai, July 1 (IANS) On a day when automobile makers were declaring their June sales numbers, car maker General Motors India on Wednesday announced top level organisational changes including creating ... … More »

    IANS - 18 hours ago
  • Tata Motors' consolidated sales up six percent in June

    Mumbai, July 1 (IANS) Carmaker Tata Motors on Wednesday said its total commercial and passenger vehicles sales in June this year grew by six percent as against the corresponding month in 2014. Domestic unit sales in the passenger and commercial vehicles category in the same month grew by three … More »

    IANS - 18 hours ago
  • Pininfarina still discussing sale to Mahindra, hopes for deal in July - sources

    The key investor in Pininfarina (PNNI.MI) and its creditor banks are still seeking to agree a sale of the indebted Italian car designer to Indian vehicle maker Mahindra & Mahindra (MAHM.NS), two sources close to the matter said. Pininfarina declined to comment. Mahindra did not answer a request … More »

    Reuters - 18 hours ago
  • SoftBank-backed startup Housing.com ousts CEO

    Indian property firm Housing.com, backed by Japan's SoftBank, ousted its co-founder and chief executive officer on Wednesday, marking the first major management upset at one of the country's largest start-ups. Housing.com's boss Rahul Yadav had been at odds with his investors for months and even … More »

    Reuters - 18 hours ago
  • After wifi at the Taj, Modi revives campaign for "digital" India

    After wifi at the Taj, Modi revives campaign for "digital" India

    NEW DELHI/MUMBAI (Reuters) - Prime Minister Narendra Modi urged more companies to make electronic and digital goods on Wednesday, reviving his campaign promise to bridge India's digital divide backed by over $70 billion in investment pledges. Launching a "Digital India Week" aimed at popularising … More »

    Reuters - 19 hours ago
  • Kerala Tourism draws much Shanghai attention

    Thiruvananthapuram, July 1 (IANS) Kerala Tourism has hit the streets of Shanghai in its bid to attract high-spending Chinese tourists from the world's largest outbound tourism market to India's southern state. A road show and another tourism event held on Tuesday at the sprawling Hotel Jinjiang … More »

    IANS - 19 hours ago
  • Interest cost dent auto sales, marginal rise in June

    Leading players in the automobile industry reported marginal to negative sales growth for last month. While Maruti and Hyundai posted growth in sales, home-grown players such as Tata Motors and Mahindra reported mixed results. The country's largest passenger car manufacturer Maruti Suzuki's sales … More »

    IANS - 19 hours ago
  • Auto Expo 2016 to be held from February 5-9

    New Delhi, July 1 (IANS) Auto Expo 2016 will be held February 5-9 at the India Expo Mart and Centre in Greater Noida, it was announced on Wednesday. The Auto Expo's B2B sister event -- The Component Show 2016 -- will be organised from February 4-7, 2016, at Pragati Maidan in New Delhi, the … More »

    IANS - 20 hours ago
  • Honda Motorcycles, Eicher Motors log sales growth in June

    Chennai, July 1 (IANS) Two wheeler makers Honda Motorcyle & Scooter India and Eicher Motors on Wednesday said they closed last month with higher sales volumes as compared to sales volumes logged in June 2014. In a statement, Honda Motorcycle said it sold 348,793 units last month up from 323,136 … More »

    IANS - 20 hours ago
  • Healthy macro data buoys markets; Sensex gains over 240 points

    Mumbai, July 1 (IANS) A slew of positive macro economic data coupled with factoring-in of the Greek loan default led Indian equity markets to make healthy gains during the trading session on Wednesday. ... … More »

    IANS - 20 hours ago
  • Programmes under 'Digital India'

    New Delhi, July 1 (IANS) With Prime Minister Narendra Modi launching the "Digital India Week" here Wednesday, following are the projects and products that have been launched, or are ready for ... … More »

    IANS - 20 hours ago
  • Mahindra's June sales down six percent

    New Delhi, July 1 (IANS) Automobile manufacturer Mahindra and Mahindra (M&M) on Wednesday reported a decline of six percent in its sales for June which stood at 36,134 units -- up from 38,466 units in the corresponding month of 2014. "With a normal monsoon till date, an overall positive sentiment … More »

    IANS - 20 hours ago
  • ECB's Draghi defends Greek pension, tax reforms

    ECB's Draghi defends Greek pension, tax reforms

    The president of the European Central Bank defended reforms to Greece's pension and tax system agreed in the country's bailout in a letter sent to a lawmaker in Brussels and released on Wednesday. "The measures on the pension system have been designed to be progressive and they have been mostly … More »

    Reuters - 20 hours ago
  • Honda Cars says sales grew 13 percent in June

    Chennai, July 1 (IANS) Car maker Honda Cars India Ltd said on Wednesday that it closed last month with 13 percent sales growth over corresponding period of the previous year. In a statement, the company said it sold 18,380 units in the domestic market last month up from 16,316 units sold in June … More »

    IANS - 20 hours ago
  • Mukesh Ambani commits Rs.250,000 crore for 'Digital India'

    New Delhi, July 1 (IANS) Reliance Industries Chairman Mukesh Ambani on Wednesday committed an investment of Rs.250,000 crore on "Digital India" and said he expected the group's initiatives under it will create over 500,000 direct and indirect jobs. "I believe digital India will be a huge success … More »

    IANS - 21 hours ago
  • Toyota Kirloskar logs lower sales in June

    Chennai, July 1 (IANS) Car maker Toyota Kirloskar Motor said on Wednesday that it closed last month with lower sales as compared to the corresponding period last year. In a statement, the company said it sold 12,381 units last month (including exports of 1,917) units down from 13,398 units sold in … More »

    IANS - 21 hours ago
  • Reliance Group to invest Rs.10,000 crore on Digital India

    New Delhi, July 1 (IANS) Reliance Group chairman Anil Ambani on Wednesday announced an investment of Rs.10,000 crore toward "Digital India" over the next few years to enhance broadband delivery and cloud-enabled platforms. Speaking at the launch of "Digital India Week" by Prime Minister Narendra … More »

    IANS - 21 hours ago
  • Yamaha Motor India logs 26 percent growth in domestic sales

    Chennai, July 1 (IANS) Two-wheeler company Yamaha Motor India Pvt Ltd said on Wednesday it closed last month with 26 percent sales growth in the domestic market as compared to sales logged in June 2014. In a statement, the company said it sold 51,432 units last month as against 40,666 units sold … More »

    IANS - 21 hours ago

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