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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Infosys to build three more campuses in Bengaluru

    Bengaluru, Aug 29 (IANS) Global software major Infosys Ltd will set up three more campuses here at an investment of Rs.1,918 crore ($290 million) and create an additional 27,000 jobs, a state government official said on Saturday. "The state high level clearance committee on industry has cleared … More »

    IANS - 7 hours ago
  • Reliance Jio launches 4G service in Bhubaneswar

    Bhubaneswar, Aug 29 (IANS) As a part of the Odisha government's initiative to convert Bhubaneswar into a 'Smart City', Reliance Jio Infocomm Limited (RJIL) has launched 4G high speed Wi-Fi internet services at four locations in the capital city, it was announced here on Saturday. Reliance Jio … More »

    IANS - 7 hours ago
  • Gammon divests nine infra projects to Brookfield consortium

    Mumbai, Aug 29 (IANS) Major infrastructure developer Gammon Infrastructure Projects Ltd on Saturday said it has divested nine project firms to a consortium led by Canada-based Brookfield Asset Management and Core Infrastructure India Fund Ltd (CIIF). Under an agreement signed on Thursday here, the … More »

    IANS - 8 hours ago
  • DLF appoints Talwar, Gujral as co-CEOs

    New Delhi, Aug 29 (IANS) Real estate major DLF on Saturday said that it had appointed directors Rajeev Talwar and Mohit Gujral as co-CEOs of the company. The decision was taken in a meeting of the board ... … More »

    IANS - 8 hours ago
  • Dr Reddy's institute launches interactive web portal

    Hyderabad, Aug 29 (IANS) Dr Reddy's Institute of Life Sciences (DRILS) on Saturday launched "Innovate in India", an interactive web portal to support innovative ideas and help them develop into products or services. The institute located at the University of Hyderabad here will help innovative … More »

    IANS - 8 hours ago
  • 'Made in China' crash doomed Indian equities, rupee

    Mumbai, Aug 29 (IANS) A slowdown in the Chinese markets, which led to a global markets' crash, coupled with rupee volatility and the risk of a US rate hike knocked-out the Indian equity markets in the week just-ended. Investors were spooked by the bearish outlook on Chinese economy, which cascaded … More »

    IANS - 8 hours ago
  • Videocon's Kolkata unit starts manufacturing mobile phones

    Kolkata, Aug 29 (IANS) Domestic electronics company Videocon on Saturday said that it had started manufacturing mobile handsets at its Salt Lake facility here. Earlier this year, the company had said that it was planning to start three manufacturing units in the country in Hyderabad, Kolkata and … More »

    IANS - 9 hours ago
  • Appreciating non-dollar currencies lift Indian foreign reserves

    Mumbai, Aug 29 (IANS) An appreciation in non-dollar currencies propelled India's foreign exchange (Forex) reserves to gain $920.6 million in the week ended August 21. "The appreciation of non-dollar currencies buoyed the Indian reserves. The appreciation of Euro by 2.7 percent against the dollar … More »

    IANS - 11 hours ago
  • IMF's Lagarde says restructuring should suffice for Greek debt

    IMF's Lagarde says restructuring should suffice for Greek debt

    A form of debt restructuring rather than outright forgiveness should enable Greece to handle its "unviable" debt burden, the head of the International Monetary Fund was quoted as telling a Swiss newspaper. The IMF has yet to make clear if it will participate in the third 86-billion-euro ($96 … More »

    Reuters - 11 hours ago
  • Indian Railways should launch 'Zero Accident Mission': Prabhu

    New Delhi, Aug 29 (IANS) Indian Railways needs to launch "Zero Accident Mission" with a definite time frame, said Railway Minister Suresh Prabhu on Saturday. Stressing that new advances in command, control and communication system can play a very vital role in evolving safe and secure operation … More »

    IANS - 11 hours ago
  • Delhi Airport launches new mobile app

    New Delhi Aug 29 (IANS) Delhi International Airport Limited (DIAL) on Saturday launched a new app named flyDEL that aims to augment the passenger experience and achieve customer delight at the airport. "The smart and tech savvy travellers as well as first-time users can make the best use of the … More »

    IANS - 12 hours ago
  • Second edition of PharmaLytica to be held in Hyderabad

    Hyderabad, Aug 29 (IANS) The second edition of PharmaLytica, an emerging global platform for analytical, outsourcing and biotech sector in India, will be held here on September 2-3. Over 100 exhibitors ... … More »

    IANS - 12 hours ago
  • China's Commerce Ministry defends devaluation, sees 'limited' impact

    China on Saturday defended the recent revamp of its foreign exchange regime that led to a sharp devaluation of the yuan, calling it a "normal adjustment". State news agency Xinhua quoted an unnamed Commerce Ministry spokesman as saying the devaluation will have "limited impact" on the country's … More »

    Reuters - 13 hours ago
  • Gionee Marathon M4: Battery at its best

    Chinese handset-maker Gionee has finally joined the race for producing smartphones with long battery life with its new M4. You simply cannot ignore the battery capacity and size of the Marathon M4, which also happens to be its USP as it is targeted at heavy users. The 64-bit MediaTek MT6735 … More »

    IANS - 15 hours ago
  • Fed says rate hike next month hinges on market volatility

    Fed says rate hike next month hinges on market volatility

    The Federal Reserve on Friday left the door open to a September interest rate hike even while several U.S. central bank officials acknowledged that turmoil in financial markets, if prolonged, could delay the first policy tightening in nearly a decade. Some top policymakers, including Fed Vice … More »

    Reuters - Sat 29 Aug, 2015 4:18 AM IST
  • To regulate or not to regulate? EU to launch study on Uber

    To regulate or not to regulate? EU to launch study on Uber

    , Brussels (Reuters) - - The European Commission will launch a study in September of the ride-hailing app Uber in an effort to settle legal disputes that have pitched the U.S. start-up against conventional taxis across Europe, three people familiar with the matter said on Friday. Since opening in … More »

    Reuters - Sat 29 Aug, 2015 3:45 AM IST
  • Oil extends short-covering frenzy to second day, topping $50

    Oil extends short-covering frenzy to second day, topping $50

    World oil prices roared back to $50 a barrel in the second day of a frenetic short-covering rally on Friday, with violence in Yemen, a storm in the Gulf and refinery outages helping extend the biggest two-day rally in six years. Tropical Storm Erika moved closer to Florida, prompting worries about … More »

    Reuters - Sat 29 Aug, 2015 3:06 AM IST
  • RBI chief Rajan - We have not called an end to rate cuts: CNBC

    RBI chief Rajan - We have not called an end to rate cuts: CNBC

    India's central bank has not said it is done with interest rate cuts and will keep a close eye on incoming data, Reserve Bank of India Governor Raghuram Rajan said on Friday. "We'll look at the data ... … More »

    Reuters - Sat 29 Aug, 2015 2:59 AM IST
  • Wall Street ends flat in quiet end to dramatic week

    Wall Street ends flat in quiet end to dramatic week

    Wall Street ended a tumultuous week with a flat close on Friday as investors shrugged off concerns that a September rate rise was more likely than some investors expected. Shares traded lower earlier in the session after Fed Vice Chairman Stanley Fischer told CNBC the Fed had not yet decided … More »

    Reuters - Sat 29 Aug, 2015 2:53 AM IST
  • Wild week for markets ends quietly

    Wild week for markets ends quietly

    A volatile ride for global markets this week ended calmly on Friday even as lingering worries over Chinese economic growth and the Federal Reserve's plans to raise interest rates weighed on stocks, but oil rebounded sharply for a second day. U.S. crude jumped more than 6 percent as a rally in … More »

    Reuters - Sat 29 Aug, 2015 2:50 AM IST
  • Insight - Manufacturers in Argentina starved of dollars ahead of election, hurting output

    Argentina's central bank is reducing the supply of scarce dollars to manufacturers two months ahead of a presidential election to ensure more are available for the nation’s savers, hampering the import of parts and disrupting factory production lines.     Tough capital controls mean importers … More »

    Reuters - Sat 29 Aug, 2015 2:49 AM IST
  • Chinese officials worried as economy enters 'tricky' phase - economist

    Chinese officials worried as economy enters 'tricky' phase - economist

    China's economy is entering a treacherous phase as it moves away from traditional sources of growth like heavy manufacturing and real estate investment, but has yet to complete the transition to a new ... … More »

    Reuters - Sat 29 Aug, 2015 1:23 AM IST
  • Focus turns to U.S. data as China slowdown looms

    After a dizzying two weeks that saw a rapid plunge and rebound in equity prices, investors are looking forward to a week of economic data that may provide clarity on the likelihood of a near-term U.S. interest rate hike and help tamp down the market's recent wild swings. The economic figures will … More »

    Reuters - Sat 29 Aug, 2015 12:41 AM IST
  • Autos lift U.S. consumer spending; sentiment slips

    Autos lift U.S. consumer spending; sentiment slips

    U.S. consumer spending rose in July as households stepped up automobile purchases, offering further evidence of strength in the economy that keeps the door open to a Federal Reserve interest rate hike this year. While other data on Friday showed consumer sentiment dipped in August, likely as … More »

    Reuters - Fri 28 Aug, 2015 11:20 PM IST
  • Carmakers scramble to adapt to slowing Chinese demand

    China's demand for luxury cars used to move in one direction - up. Now, the prospect of a sustained slump in Chinese demand, prompted by sharp declines in Chinese equity markets and a devaluation of the yuan, has global auto manufacturers scrambling to find new markets to sell goods. German car … More »

    Reuters - Fri 28 Aug, 2015 11:10 PM IST
  • Nationwide truck strike from October 1: AIMTC

    New Delhi, Aug 28 (IANS) The All India Motor Transport Congress (AIMTC) on Friday announced it will go on a nationwide indefinite strike from October 1 after the government did not respond to their demand to revoke TDS and toll charges. "We had a meeting with Road Transport and Highways Minister … More »

    IANS - Fri 28 Aug, 2015 10:30 PM IST
  • India's oil imports to be 90 percent by 2020: Report

    Bengaluru, Aug 28 (IANS) India's import dependence on oil is likely to touch 90 percent by 2020 due to widening supply-demand gap on growing appetite for the fossil fuel, a joint study said on Friday. If the trend of importing more oil continues, India's dependence is likely to reach 90 percent by … More »

    IANS - Fri 28 Aug, 2015 10:22 PM IST
  • Land allotted for Anil Ambani's mega aerospace project

    Mumbai, Aug 28 (IANS) The Maharashtra government on Friday allotted 289 acres of land near Nagpur for Anil Ambani-led Reliance Group's upcoming aerospace park that entails an investment of over Rs.6,500 crore ($1 billion). The Dhirubhai Ambani Aerospace Park (DAAP) is set to come up at Mihan SEZ … More »

    IANS - Fri 28 Aug, 2015 9:26 PM IST
  • Brace for QT, quantitative tightening, as China leads FX reserves purge

    After six years of QE, prepare for QT. Faith in the power of "quantitative easing" has prompted central banks, led by the U.S. Federal Reserve, to pump trillions of dollars of stimulus into the global financial system to cushion the impact of the 2007-08 market crisis and recession. The European … More »

    Reuters - Fri 28 Aug, 2015 9:10 PM IST
  • Recovery in crude oil, outflow of funds dent rupee

    Mumbai, Aug 28 (IANS) Recovery in global crude oil prices coupled with outflow of funds from Indian equity and bonds markets dented the Indian rupee's value against the US dollar on Friday. "Rupee lost some ground today against the US Dollar and the carry currencies like Euro and Yen," Anindya … More »

    IANS - Fri 28 Aug, 2015 9:02 PM IST
  • Weekahead - China fears linger as focus on Fed sharpens

    Fears over the health of China's economy kept world markets on edge this week and the country will remain in focus, along with the question of whether the Federal Reserve will raise interest rates next month. China, the epicentre of the week's moves, is set to remain in focus over the next week as … More »

    Reuters - Fri 28 Aug, 2015 8:56 PM IST
  • Stable global markets spur crude oil prices

    New Delhi, Aug 28 (IANS) Stable world markets coupled with hopes of a healthier world economic growth and demand lifted the Indian basket of crude oil prices to $44.28 a barrel, official data showed on Friday. Data furnished by the government-run Petroleum Planning and Analysis Cell showed the … More »

    IANS - Fri 28 Aug, 2015 8:20 PM IST
  • Other forms of capital for insurers capped at 25 percent: IRDAI

    Chennai, Aug 28 (IANS) The Indian insurance regulator on Friday came out with draft regulations governing the raising of other forms of capital for insurers. In the draft regulation released on Friday, the Insurance Regulatory and Development Authority of India (IRDAI) proposed to allow insurers … More »

    IANS - Fri 28 Aug, 2015 8:12 PM IST
  • Gold eyes biggest weekly drop in five on U.S. data, Fed hike view

    Gold eyes biggest weekly drop in five on U.S. data, Fed hike view

    Gold traded flat on Friday, on track to post its biggest weekly drop in five as strong U.S. economic data supported the case for a near-term increase in interest rates. The upward revision in U.S. economic growth in the second quarter to 3.7 percent from the initial estimate of 2.3 percent spurred … More »

    Reuters - Fri 28 Aug, 2015 7:35 PM IST
  • China banks warn of rising bad loans and falling margins as economy slows

    China banks warn of rising bad loans and falling margins as economy slows

    SHANGHAI/BEIJING (Reuters) - China's largest banks warned of a tough year after posting their weakest half-yearly profit growth in at least six years as a slowing economy forces the lenders to make even more provisions for soured loans and squeezes interest income. State-owned Industrial and … More »

    Reuters - Fri 28 Aug, 2015 6:52 PM IST
  • Global sentiments cheer markets, Sensex surges over 160 points

    Mumbai, Aug 28 (IANS) Healthy growth in Chinese exchanges and the US economy, coupled with attractive valuations, buoyed investor sentiment in Indian equity markets on Friday. Bullish sentiments propelled the barometer 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) to gain … More »

    IANS - Fri 28 Aug, 2015 6:38 PM IST
  • Exclusive - Arab OPEC producers brace for oil-price weakness for rest of 2015

    DUBAI/LONDON (Reuters) - A second oil price rout of 2015 has forced Arab OPEC members to cut their price expectations for this year, showing they are prepared to tolerate cheaper crude for longer to defend market share and curb rivals' output. OPEC delegates, including those from core Gulf OPEC … More »

    Reuters - Fri 28 Aug, 2015 6:28 PM IST
  • Brookfield buys into Indian infrastructure with road and power deal

    Brookfield buys into Indian infrastructure with road and power deal

    Canada's Brookfield Asset Management(BAMa.TO) made its first significant investment in Indian infrastructure, buying six road and three power projects on Friday from India's Gammon Infrastructure Projects Limited(GAIN.NS). A consortium composed of Brookfield and the Core Infrastructure India Fund … More »

    Reuters - Fri 28 Aug, 2015 5:32 PM IST
  • Sukhbir Badal leaves for South Korea to attract investment

    Chandigarh, Aug 28 (IANS) Punjab Deputy Chief Minister Sukhbir Singh Badal on Friday left for South Korea to impress upon the country's companies to invest in the state and accelerate industrial growth. Accompanied by senior functionaries of the state government, Badal will be meeting officials of … More »

    IANS - Fri 28 Aug, 2015 4:30 PM IST
  • Sensex posts biggest weekly drop in nearly three months

    Sensex posts biggest weekly drop in nearly three months

    REUTERS - India’s stock markets rose on Friday on the back of upbeat U.S. economic data, but posted their biggest weekly decline in nearly three months, bruised by a global selloff earlier this week. The ... … More »

    Reuters - Fri 28 Aug, 2015 3:54 PM IST
  • China shares rise sharply on signs of fresh government support

    China shares rise sharply on signs of fresh government support

    China stocks jumped more than 4 percent for a second straight day on Friday as signs of fresh support from Beijing prompted more bargain hunting following the earlier plunge that panicked global markets. "Investor confidence remains shaky," said Dominic Chan, analyst at GF Securities in Hong Kong. … More »

    Reuters - Fri 28 Aug, 2015 3:46 PM IST
  • Global cues buoys markets, Sensex provisionally up

    Mumbai, Aug 28 (IANS) Healthy growth in Chinese exchanges and US economy, coupled with attractive valuations, buoyed investor sentiment in Indian equity markets propelling a barometer index to gain 139 ... … More »

    IANS - Fri 28 Aug, 2015 3:46 PM IST
  • Positive global cues cheer markets, Sensex up 133 points

    Mumbai, Aug 28 (IANS) Healthy growth in Chinese exchanges and the US economy, coupled with attractive valuations, buoyed investor sentiment in the Indian equity markets and propelled a barometer index to gain 133 points during the late-afternoon trade session on Friday. The positive sentiments … More »

    IANS - Fri 28 Aug, 2015 3:02 PM IST
  • Vodafone India to roll out 4G by 2015 end

    New Delhi, Aug 28 (IANS) Vodafone India will launch its 4G services by end of 2015 in "important data markets" including Mumbai, Delhi, Kolkata, Bengaluru and Kochi, a company statement said here on Friday. In addition, Vodafone India will also roll out its own 3G networks in another seven circles … More »

    IANS - Fri 28 Aug, 2015 2:38 PM IST
  • China central bank injects 60 bln yuan via short-term liquidity operations

    China's central bank said on Friday that it injected 60 billion yuan into interbank money market via short-term liquidity operations . The seven-day loans have an average interest rate of 2.35 percent, ... … More »

    Reuters - Fri 28 Aug, 2015 2:23 PM IST
  • Positive global cues cheer Indian equities, Sensex up 218 points

    Mumbai, Aug 28 (IANS) Stabilisation in Chinese exchanges and healthy economic growth in the US buoyed investor sentiment in the Indian equity markets and propelled a barometer index to gain 218 points during the mid-afternoon trade session on Friday. The positive sentiments propelled the barometer … More »

    IANS - Fri 28 Aug, 2015 1:46 PM IST
  • Vodafone India joins 4G race, to launch services by year end

    Vodafone India(VOD.L) said on Friday it would launch fourth-generation (4G) mobile phone services in the country by the end of the year, joining rival Bharti Airtel(BRTI.NS) in offering faster data services. India's telecommunications market is bracing for heated competition from Reliance Jio, the … More »

    Reuters - Fri 28 Aug, 2015 1:09 PM IST
  • Asia extends stocks rally as U.S. GDP data calms nerves

    Asia extends stocks rally as U.S. GDP data calms nerves

    SINGAPORE/TOKYO (Reuters) - Asian markets extended a global rally into second day on Friday, as upbeat U.S. economic growth data calmed sentiment following the hammering shares across the region took earlier in the week. "Concerns about a possible softening in China’s economic growth have been … More »

    Reuters - Fri 28 Aug, 2015 12:13 PM IST
  • RBI more likely to cut rates in September, GDP growth steady - Reuters Poll

    There is a better than even chance that the Reserve Bank of India (RBI) will cut interest rates at its policy meeting on Sept. 29 thanks to inflation striking a record low, according to a Reuters poll, marking a shift in expectations from earlier. The median from survey of 21 economists showed a … More »

    Reuters - Fri 28 Aug, 2015 12:02 PM IST
  • Uber China closes $1 bln fundraising round - sources

    BEIJING/SHANGHAI (Reuters) - Uber Technologies Inc's China arm has closed its $1 billion fundraising round early, according to two people with knowledge of the matter, with investors still hopeful for the U.S.-based ride service despite strong domestic competition. Investors in Uber's Chinese unit … More »

    Reuters - Fri 28 Aug, 2015 11:55 AM IST

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