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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • TVS Motor logs two percent sales growth

    Chennai, Aug 1 (IANS) Two- and three-wheeler maker TVS Motor Company on Saturday said it closed last month with two percent growth in volumes as compared to July 2014. In a statement, the company said ... … More »

    IANS - 16 minutes ago
  • M&M sales down by three percent in July

    Chennai, Aug 1 (IANS) Indian automobile major Mahindra & Mahindra Ltd (M&M) on Saturday said it closed last month with its sales down by three percent as compared to July 2014. "While the auto industry is currently seeing muted growth, we do believe that the launch of some exciting new products … More »

    IANS - 56 minutes ago
  • Hyundai Motor India's July sales up 5 percent

    New Delhi, Aug 1 (IANS) Hyundai Motor India (HMIL) on Saturday reported a 5 percent rise in sales in July to 50,408 units - up from 48,014 units sold in the corresponding month of 2014. "The tremendous ... … More »

    IANS - 1 hour 20 minutes ago
  • Malaysia's PM Najib says Qatar, China interested in 1MDB assets

    Malaysian Prime Minister Najib Razak said Qatar and China have expressed an interest in the assets of debt-laden state fund 1Malaysia Development Bhd (1MDB), state news agency Bernama reported on Saturday. 1MDB, the centre of several investigations over graft and its management of funds, is … More »

    Reuters - 1 hour 43 minutes ago
  • Forex reserves up $322 million: RBI

    Mumbai, Aug 1 (IANS) After four consecutive weeks of decline, India's foreign exchange reserves grew by $322 million in the week ended July 24. Data furnished by the Reserve Bank of India (RBI), in its weekly statistical supplement, showed India's foreign exchange reserves during the week under … More »

    IANS - 2 hours 18 minutes ago
  • Sun Pharma Advanced Research's Q1 net loss down 83 percent

    New Delhi, Aug 1 (IANS) Sun Pharma Advanced Research Company (SPARC) on Saturday reported a decline of 83 percent in its net loss for the first quarter of the current fiscal. According to the company's ... … More »

    IANS - 2 hours 38 minutes ago
  • Maruti Suzuki's July sales up 20 percent

    New Delhi, Aug 1 (IANS) Automobile manufacturer Maruti Suzuki on Saturday reported an increase of 20.1 percent in its total sales for July, 2015. The automobile manufacturer's sales during June had inched-up by 1.8 percent at 114,756 units. … More »

    IANS - 2 hours 48 minutes ago
  • Bombay High Court concludes hearing Maggi noodles case

    Bombay High Court concludes hearing Maggi noodles case

    The Bombay High Court has concluded hearing a case filed by Nestle India challenging a local regulator's report that Maggi instant noodles contained excess lead, a lawyer for the company said. The court ... … More »

    Reuters - 6 hours ago
  • China July factory growth unexpectedly stalls - official PMI survey

    It did not mention any impact from a savage 30 percent drop in stock markets since mid-June, though analysts said wild price swings could hit consumer and business confidence and investment decisions, adding pressure on the already cooling economy. "It warrants more concrete policy measures to … More »

    Reuters - 8 hours ago
  • India's April-June fiscal deficit touches $44.9 bln - govt

    India's fiscal deficit during April-June touched 2.87 trillion rupees or 51.6 percent of the target for the 2015/16 fiscal year ending in March 2016, government data showed on Friday. The deficit was 56.1 ... … More »

    Reuters - 9 hours ago
  • Tumbling oil prices slam profit at Exxon Mobil, Chevron

    Earnings at U.S. oil majors Exxon, which were the worst in a decade, and Chevron missed analysts' expectations, adding to concerns that perhaps executives had not acted quickly enough to mitigate the impact of an over-50-percent drop in oil prices since last summer. The results highlight how … More »

    Reuters - 12 hours ago
  • Uber valued at about $51 billion after latest funding round - WSJ

    Uber valued at about $51 billion after latest funding round - WSJ

    Uber raised close to $1 billion in the round, bringing its total funding to more than $5 billion, WSJ reported on Friday, citing one of the people. Investors in the latest round include Microsoft Corp (MSFT.O) and the Indian media conglomerate Bennett Coleman & Co's Times Internet, the report … More »

    Reuters - 14 hours ago
  • Wall Street ends lower as weak oil weighs

    Wall Street ends lower as weak oil weighs

    Exxon Mobil (XOM.N) shares dropped 4.58 percent while Chevron (CVX.N) lost 4.89 percent after reporting poor quarterly earnings due to weak oil prices. Despite the S&P's negative close on Friday, half of the 10 major S&P 500 sectors were higher, with the utilities index's (.SPLRCU) 0.98 percent … More »

    Reuters - 15 hours ago
  • Insight - Apple, BMW in courtship with an eye on car collaboration

    FRANKFURT/SAN FRANCISCO (Reuters) - BMW (BMWG.DE) and Apple (AAPL.O) may rekindle a courtship put on hold after an exploratory visit by executives of the world's top maker of electronic gadgets to the headquarters of the word's biggest seller of premium cars. Apple Chief Executive Tim Cook went to … More »

    Reuters - 16 hours ago
  • Petrol cut by Rs.2.43 a litre, diesel by Rs.3.60

    New Delhi, July 31 (IANS) Oil marketer Indian Oil Corp on Friday cut petrol and diesel by Rs.2.43 and Rs 3.60 a litre respectively, prices inclusive levies at Delhi and effective midnight, following a ... … More »

    IANS - 17 hours ago
  • Reliance arm offers access to Amazon web services

    Mumbai, July 31 (IANS) Reliance Communications' arm Global Cloud Xchange (GCX) on Friday announced a direct access to Amazon web services via its cloud platform. "Using our Cloud X Fusion, businesses ... … More »

    IANS - 17 hours ago
  • 145 companies being probed for chit fund scams

    New Delhi, July 31 (IANS) In its crackdown on corporate fraud and chit fund scams, the government has, during the last three years and current year, ordered investigations of 145 companies allegedly involved in illegal deposit taking, parliament was told on Friday. "'Fraud' has been defined as a … More »

    IANS - 18 hours ago
  • Exide Life Insurance not to dilute stakes

    Kolkata, July 31 (IANS) Although the Indian government has allowed upto 49 percent stakeholding by foreign companies in the Indian insurance sector, Kolkatra-based battery maker Exide Industries on Friday said it wants to be a long-term player in the life insurance space and its not considering … More »

    IANS - 18 hours ago
  • Black money abroad declaration form can be filed online

    New Delhi, July 31 (IANS) The government has notified the form for declaring income and assets abroad as well rules for their calculation under the Undisclosed Foreign Income and Assets Bill and these can also be filed online, parliament was told on Friday. "A declaration under the Black Money … More »

    IANS - 18 hours ago
  • India's IOC to cut diesel, gasoline prices from Saturday

    Indian Oil Corp will cut the price of diesel by 7.2 percent and that of gasoline by 3.6 percent from Saturday reflecting changes in global price of the two fuels since the last revision. The retail price of diesel will decline by 3.60 rupees ($0.06) and that of gasoline, or petrol, will decrease … More »

    Reuters - 18 hours ago
  • NGOs acting as cigarette smuggling companies' agents: ITC

    Kolkata, July 31 (IANS) Consumer goods major and cigarette maker ITC Ltd. on Friday questioned the rationale of selling duty-free cigarettes at airports and accused a section of NGOs of acting as agents of companies smuggling cigarettes into India. He said the smuggled cigarettes come from China, … More »

    IANS - 19 hours ago
  • Rs.12,000 crore supplement demand for grant for banks' recapitalisation

    New Delhi, July 31 (IANS) The government on Friday presented to parliament a supplementary demand for grants to provide for Rs.12,000 crore towards recapitalization of public sector ba(PSBs). Finance Minister Arun Jaitley plans to provide Rs.25,000 crore capital each in the current and next fiscal … More »

    IANS - 19 hours ago
  • Twitter adds four Indian languages

    Gujarati, Kannada, Marathi and Tamil - taking the count of supported Indian languages to six. Hindi and Bengali have been available for a year now, the social media company said in a blog post. According to Twitter, these four languages were partially translated by a community of Twitter users … More »

    IANS - 19 hours ago
  • Raymond cuts net loss 58 percent in Q1

    Mumbai, July 31 (IANS) Textile major Raymond Ltd on Friday reported a consolidated net loss of Rs. 13.7 crore for first quarter of fiscal 2015-16, reducing its loss 58 percent from Rs.32.9 crore in same ... … More »

    IANS - 19 hours ago
  • Titan net dips 14.7 percent in Q1

    In a regulatory filing to the Bombay Stock Exchange, the city-based company said its total income for Q1 under review also declined 6.6 percent to Rs.2,724 crore from Rs.2,917 crore in like period year ago. "Sales income dropped largely on account of weak consumer sentiment and absence of golden … More »

    IANS - 19 hours ago
  • Ganga Ram Agarwal takes over as railway board secretary

    New Delhi, July 31 (IANS) Ganga Ram Agarwal, an officer of the Indian railway services of electrical engineering (IRSEE), has been posted as the new secretary of the railway board, the railways ministry ... … More »

    IANS - 19 hours ago
  • Lava launches Iris X1 Selfie smartphone

    New Delhi, July 31 (IANS) Domestic handset-maker Lava International on Friday launched a the new Iris X1 Selfie smartphone priced at Rs.6,777. The new smartphone will come with a 4.5-inch IPS display. It has a 5-megapixel selfie camera which comes loaded with a front-LED flash and a 8-megapixel … More »

    IANS - 19 hours ago
  • Google Play Store App pricing will now start at Rs.10

    New Delhi, July 31 (IANS) In a move to attract a larger audience, Internet giant Google on Friday said that apps on the Android Play Store can now be priced at Rs.10. "India continues to be a major growth opportunity for developers to reach new users on Google Play. … More »

    IANS - 20 hours ago
  • Punjab to establish unit to generate power from industrial waste

    Chandigarh, July 31 (IANS) Punjab Deputy Chief Minister Sukhbir Singh Badal on Friday gave in principle approval for establishment of a renewable energy project which will use industrial waste to generate power. Badal gave this approval on the spot after a demonstration at Ersekvadkert town in … More »

    IANS - 20 hours ago
  • Larsen and Toubro's Q1 standalone net profit down 21 percent

    Mumbai, July 31 (IANS) Engineering, construction and manufacturing conglomerate Larsen and Larsen & Toubro (L&T) on Friday reported a decrease of 21.55 percent in its stand alone net profit for the first quarter of the current fiscal. According to the company, its net profit stood at Rs.700.97 … More »

    IANS - 20 hours ago
  • 'Telecom operators committed to work with government on call drops'

    New Delhi, July 31 (IANS) Indian telecom operators said they are committed to work with the government on tackling the problem of call drops and are keen to undertake the joint exercise with the Telecom Enforcement, Resource and Monitoring (TERM) cells to address the issue. "At the outset, we … More »

    IANS - 20 hours ago
  • Telangana CM invited to World Economic Forum meet in China

    Hyderabad, July 31 (IANS) The World Economic Forum has invited Telangana Chief Minister K. Chandrasekhar Rao for its annual meeting of the "new champions" to be held in China in September this year. Phillip Rosier, managing director and member of the managing board of the Switzerland-based World … More »

    IANS - 20 hours ago
  • Court summons Rajya Sabha MP Vijay Darda, others

    New Delhi, July 31 (IANS) A court here on Friday issued summons to Rajya Sabha MP Vijay Darda and others in a coal block allocation case. Special Judge Bharat Parashar issued summons to Darda, his son Devendra Darda, former coal secretary H.C. Gupta, coal ministry officials K.S. Kropha and K.C. … More »

    IANS - 21 hours ago
  • Markets expect RBI status quo on rates in August

    New Delhi, July 31 (IANS) The Reserve Bank of India (RBI) is expected to hold interest rates at its monetary policy review next week and is more likely to cut rates by the end of the year with more clarity on the monsoons, according to market observers. It said it expects RBI to cut another 25 … More »

    IANS - 21 hours ago
  • Noodle market needs quality reassurance to regain hold: ITC

    Kolkata, July 31 (IANS) As controversy shrouds major noodle brands, the market will need quality assurance to reinstate the brands and regain the lost consumer confidence, ITC Ltd. chairman Y.C. Deveshwar said here on Friday. "The noodle market needs reassurance and we need to give facts and … More »

    IANS - 21 hours ago
  • ITC questions rationale of airports selling duty-free cigarettes

    Kolkata, July 31 (IANS) Consumer goods major and cigarette maker ITC Ltd. on Friday questioned the rationale of selling duty-free cigarettes at airports and sought the Indian regulatory framework to be aligned for making the country globally competitive. Addressing the shareholders at the … More »

    IANS - 21 hours ago
  • Around 2.26 lakh patents pending: Sitharaman

    New Delhi, July 31 (IANS) The government on Friday reported that 226,339 patents are pending with it and are being processed at various stages. According to data furnished by the minister of state (MoS) for commerce and industry Nirmala Sitharaman, Delhi topped the list with 83,291 patent … More »

    IANS - 21 hours ago
  • Chevron profit tumbles 90 percent, misses estimates; shares drop

    Second-quarter profit at oil producer Chevron Corp tumbled 90 percent, missing analysts' expectations, amid weakness in oil prices. Chief Executive John Watson bluntly said the results were "weak" and that he was working to slash costs by renegotiating supply contracts. Chevron earned a net … More »

    Reuters - 21 hours ago
  • Air India to get additional Rs.800 crore fresh equity

    New Delhi, July 31 (IANS) National passenger carrier Air India will get an additional capital infusion of Rs.800 crore, parliament was informed on Friday. Finance Minister Arun Jaitley said this while moving the supplementary demands for grants for 2015-16 in the Lok Sabha. According to the … More »

    IANS - 21 hours ago
  • Eight core industries index growth slows to 3 percent in June

    The select factory output index rose by 8.7 percent in June, 2014. The data on the select factory output was furnished by the commerce and industry ministry for the eight core industries (ECI). ECI comprises 38 percent of the total weightage of items included in the Index of Industrial Production … More »

    IANS - 21 hours ago
  • Wall Street opens higher after wage growth data

    Wall Street opens higher after wage growth data

    REUTERS - U.S. stocks edged up on Friday as historically low wage growth supported the view that the Fed could delay the timing of a rate increase. The Dow Jones industrial average rose 10.96 points, or ... … More »

    Reuters - 21 hours ago
  • Religare Enterprises posts higher net

    Chennai, July 31 (IANS) Religare Enterprises on Friday said it closed the first quarter of 2015-16 with higher profit. In a regulatory filing in BSE, the company said it has posted a net profit of Rs.37.93 ... … More »

    IANS - 21 hours ago
  • Banking sector buoys markets; Sensex up 409 points

    Mumbai, July 31 (IANS) Capital infusion in banks, clarity on retrospective tax on capital gains and expectations of a rate cut by the apex bank cheered investor sentiments and boosted Indian equity markets ... … More »

    IANS - 22 hours ago
  • GlaxoSmithKline Pharma net drops 5 percent in Q1

    New Delhi, July 31 (IANS) GlaxoSmithKline Pharmaceuticals posted net profit of Rs.93.28 crore for the first quarter of 2015-16, a drop of 5.09 percent to Rs.98.29 crore in the corresponding quarter in ... … More »

    IANS - 22 hours ago
  • After uproar, India ups budget for some social welfare sectors

    After uproar, India ups budget for some social welfare sectors

    The government on Friday sought parliamentary approval to raise federal spending on social welfare, months after opposition lawmakers and Prime Minister Narendra Modi's own officials slammed his cuts in spending. Modi's finance ministry plans to raise the budget for women and child welfare, as … More »

    Reuters - 22 hours ago
  • Shoppers Stop posts Rs.21 crore loss in Q1

    New Delhi, July 31 (IANS) Shoppers Stop posted net loss of Rs.21.43 crore for the first quarter of 2015-16 compared to Rs.75 lakh profit posted during the corresponding quarter in 2014-15, the company ... … More »

    IANS - 22 hours ago
  • Gold prices continue to fall for six straight weeks since 2001

    Chennai, July 31 (IANS) Gold price continued its downward slide for sixth straight week after 16 years on Friday, touching Rs.2,356/gram (22 carat), said a jeweller. After that this seems to be longest period of the gold prices falling," N. Anantha Padmanabhan, managing director of NAC Jewellers, … More »

    IANS - 22 hours ago
  • L&T criticises "unhurried" reform pace as profit slides

    L&T criticises "unhurried" reform pace as profit slides

    NEW DELHI/MUMBAI (Reuters) - Industrial giant Larsen & Toubro Ltd (LART.NS) criticised on Friday the "unhurried pace" of government reforms for weakening investment in its home market, as it reported a 37 percent slide in first-quarter profit. Larsen, which makes everything from metro train lines … More »

    Reuters - 22 hours ago
  • India plans to give $11 billion lifeline to ailing state banks

    India plans to give $11 billion lifeline to ailing state banks

    Planning to inject $11 billion of capital into debt-laden state banks over the next four years, Finance Minister Arun Jaitley on Friday sought parliament's approval to boost budget spending by $4 billion in the current fiscal year. High levels of non-performing assets in state-run banks have made … More »

    Reuters - 22 hours ago
  • Commodities, China stocks lick wounds after brutal July

    Commodities and China investors waved a relieved goodbye to July on Friday following a brutal sell-off that has revived fears about the global economy and overshadowed more encouraging news from the U.S. and Europe. There were signs that the rout wasn't over yet as Chinese stocks - which have … More »

    Reuters - 23 hours ago

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