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LATEST BUSINESS, FINANCE AND MARKET NEWS

  • Jet Airways' Q3 net profit rises over six times

    Mumbai, Feb 6 (IANS) Jet Airways on Saturday reported an exponential rise of over 640 percent in its net profit for the quarter ended December 31, 2015. According to the company, its net profit for the ... … More »

    IANS - 10 hours ago
  • 'Wine industry needs nationwide uniform tax policy'

    Bengaluru, Feb 6 (IANS) A nationwide uniform tax policy is the most crucial need for Indian wine industry to grow, said the chief executive of a leading Indian wine maker on Saturday. "Every Indian state has its own taxes and duties policy which is a challenge as rules change from state to state. … More »

    IANS - 11 hours ago
  • India, Sri Lanka bat for strengthening energy ties

    Bhubaneswar, Feb 6 (IANS) India on Saturday held discussions with Sri Lanka to strengthen bilateral relations in the petroleum sector. Petroleum and Natural Gas Minister Dharmendra Pradhan held a meeting here with Anoma Gamage, deputy minister of petroleum resources development of Sri Lanka. … More »

    IANS - 11 hours ago
  • All set for opening of Kochi Smart City on February 20

    Kochi, Feb 6 (IANS) A final review meeting was held here on Saturday to finalise the programme for the February 20 opening of Kerala's much-delayed mega IT project- the Kochi Smart City . The review meeting was chaired by Chief Secretary Jiji Thomson and other top officials from the state … More »

    IANS - 13 hours ago
  • Unchanged lending rates pull down equity markets

    Mumbai, Feb 6 (IANS) Disappointment over the status-quoist stance of the Reserve Bank of India (RBI), coupled with a weak rupee and volatile crude oil prices, depressed the Indian equity markets during ... … More »

    IANS - 13 hours ago
  • Budgetary hopes, global macro-data to steer rupee

    Mumbai, Feb 6 (IANS) Expectations of cheering budgetary announcements, coupled with global macro-data and a rebound in commodity prices are expected to steer the Indian rupee's trajectory in the coming week, experts said on Saturday. Global-macro data such as the Chinese Forex reserves data … More »

    IANS - 14 hours ago
  • Start-ups initiative new hope for India: Sunil Mittal

    Gurgaon, Feb 6 (IANS) The 'Start-up India' initiative will help the youth in building a strong India, Sunil Bharti Mittal, founder and chairman, Bharti Enterprises, said here on Saturday. Addressing students at the convocation ceremony at Amity University Gurgaon after being conferred an honorary … More »

    IANS - 14 hours ago
  • Center for Sight to set up 7 new eye centres

    New Delhi, Feb 6 (IANS) Eye hospital chain Center for Sight on Saturday said it will set up seven new facilities, including a super specialty hospital here. The Delhi-headquartered company would invest Rs.16.55 crore in setting up an eye hospital here and Rs 26 crore in establishing the other six … More »

    IANS - 14 hours ago
  • Without money, struggled for food: Paytm founder

    Gurgaon, Feb 6 (IANS) Vijay Shanker Sharma, founder of mobile wallet brand Paytm, on Saturday said that after getting an engineering degree, he had a hard time finding a job and struggled for food due to lack of money. After receiving an honorary doctorate degree from Amity University Gurgaon, … More »

    IANS - 15 hours ago
  • Jet Airways posts record quarterly net profit

    Jet Airways Ltd said on Saturday its December quarter net profit rose more than seven times, with sharply lower fuel costs helping the carrier post a third consecutive quarterly gain following a series of losses. Jet, India's second largest carrier by market share, said net profit in the … More »

    Reuters - 16 hours ago
  • Jaitley pushes states to up infrastructure, anti-poverty spending

    New Delhi, Feb 6 (IANS) State governments must spend more on infrastructure and anti-poverty programmes, particularly after an increase in monetary allocations based on the 14th Finance Commission report, Finance Minister Arun Jaitley said here on Saturday. "It's been a tradition to meet the … More »

    IANS - 16 hours ago
  • RBI's buying activity swells Forex reserves

    Mumbai, Feb 6 (IANS) Buying activity by the country's central bank and the revaluation impact of global currencies swelled India's foreign exchange (Forex) reserves during the week ended January 29, experts said on Saturday. According to the Reserve Bank of India's (RBI's) weekly statistical … More »

    IANS - 16 hours ago
  • Why 75 percent drop in global oil prices isn't reaching you

    Record production in the US, weakened demand from the Eurozone and emerging economies like China and Brazil, and Iran's entry into the international market have effectively slashed the price of crude oil for India, from $106 per barrel in July 2014 to $26 in January 2016 - a 75 percent drop over 15 … More »

    IANS - 17 hours ago
  • Leading car makers shifting gears to counter diesel ban

    Greater Noida, Feb 6 (IANS) Even though the ban on the registration of diesel vehicles in the national capital potentially affects several leading automobile manufacturers, they are coming out with alternatives and getting ready to counter the prohibition, stakeholders said. To curb the increasing … More »

    IANS - 18 hours ago
  • Auto component sector awaits policy clearance

    "A major chunk of the problem would be resolved once the new automobile policy would be cleared by the Parliament and would come into force, meanwhile we are carrying out awareness campaigns at major auto component markets," Vinnie Mehta, director general of Automotive Component Manufacturers … More »

    IANS - 18 hours ago
  • China central bank to fine tune policy, keep yuan stable - Q4 monetary report

    China central bank to fine tune policy, keep yuan stable - Q4 monetary report

    China will fine tune monetary policy and keep the yuan basically stable while guarding against systemic financial risks, the country's central bank said on Saturday in its fourth-quarter monetary policy report. China will also maintain an appropriate level of liquidity and achieve reasonable … More »

    Reuters - 18 hours ago
  • China not going back to "old road" of capital controls - fx regulator

    China not going back to "old road" of capital controls - fx regulator

    China will continue to crack down on illegal foreign exchange activities but won't revert back to the "old road" of capital controls, the country's top foreign exchange regulator said. The remarks ... … More »

    Reuters - 19 hours ago
  • Technology rout pushes Nasdaq to lowest close since 2014

    Technology rout pushes Nasdaq to lowest close since 2014

    The Nasdaq Composite that includes large-cap technology names like Alphabet, Microsoft and Facebook led another broad rout on Wall Street Friday, closing at its lowest level since October 2014. Many stocks ... … More »

    Reuters - Sat 6 Feb, 2016 4:31 AM IST
  • LinkedIn sheds $11 billion in value on stock's worst day since debut

    LinkedIn sheds $11 billion in value on stock's worst day since debut

    The rout in the stock cost LinkedIn chairman Reid Hoffman about $1.2 billion based on his 11.1 percent stake in the company he co-founded, according to Reuters calculations. At least nine brokerages downgraded the stock to "hold" from "buy", saying the company's lofty valuation was no longer … More »

    Reuters - Sat 6 Feb, 2016 4:22 AM IST
  • Oil falls in volatile trade ahead of key oil producer meeting

    Oil falls in volatile trade ahead of key oil producer meeting

    Oil prices ended the week lower in choppy trading on Friday, snapping two weeks of gains, as a frenzy of speculation about a possible deal between top oil producers clashed with concerns about a growing supply glut. After a volatile week's trading, much is riding on Sunday's meeting between … More »

    Reuters - Sat 6 Feb, 2016 4:21 AM IST
  • Dollar and U.S. yields rise, stocks fall after jobs report keeps Fed hike alive

    Dollar and U.S. yields rise, stocks fall after jobs report keeps Fed hike alive

    The dollar rose against a basket of currencies on Friday along with Treasury yields, but global stocks fell after a key U.S. jobs report painted a mixed picture of the labour market and left investors with a muddled view on rate hike prospects. Non-farm payrolls increased by 151,000 jobs last … More »

    Reuters - Sat 6 Feb, 2016 4:11 AM IST
  • U.S., India in talks to settle solar power trade dispute

    U.S., India in talks to settle solar power trade dispute

    The United States and India are in talks that could settle a long-running solar power trade dispute, delaying the announcement of a ruling by the World Trade Organization, an Obama administration official said on Friday. Washington filed the WTO challenge three years ago, claiming that India's … More »

    Reuters - Sat 6 Feb, 2016 3:32 AM IST
  • Airbus in talks to delay some A320neo deliveries - sources

    Airbus (AIR.PA) is renegotiating delivery schedules for its revamped A320neo jet and has told some airlines it will be delayed by about two months, industry sources said. The European planemaker missed a 2015 target for delivering the first aircraft, an upgraded fuel-saving version of its … More »

    Reuters - Sat 6 Feb, 2016 2:43 AM IST
  • Gold price rises to three-month high after mixed U.S. jobs data

    Gold price rises to three-month high after mixed U.S. jobs data

    NEW YORK/LONDON (Reuters) - Gold rose to a three-month high in volatile trade on Friday, as a mixed U.S. jobs report prompted investors to reassess the outlook for U.S. interest rates this year, putting bullion on track for its strongest weekly performance in more than a year. U.S. employment … More »

    Reuters - Sat 6 Feb, 2016 2:02 AM IST
  • Wall Street Weekahead - For Coke and Pepsi, Super Bowl is market share play

    Wall Street Weekahead - For Coke and Pepsi, Super Bowl is market share play

    Coca-Cola Co, PepsiCo and other consumer-facing companies spending big bucks to advertise during Sunday's Super Bowl football extravaganza will be making a play for more market share to offset a slow economy and less overseas revenue. In the year since the last Super Bowl, shares of companies … More »

    Reuters - Sat 6 Feb, 2016 1:44 AM IST
  • U.S. labour market on solid ground as jobless rate hits eight-year low

    U.S. labour market on solid ground as jobless rate hits eight-year low

    U.S. employment gains slowed more than expected in January as the boost to hiring from unseasonably mild weather faded, but rising wages and an unemployment rate at an eight-year low suggested the labour market recovery remains firm. Nonfarm payrolls increased by 151,000 jobs and the unemployment … More »

    Reuters - Sat 6 Feb, 2016 1:09 AM IST
  • VW delays 2015 results, AGM as scandal effects unclear

    VW delays 2015 results, AGM as scandal effects unclear

    Volkswagen (VOWG_p.DE) has postponed publication of its financial results for 2015 and delayed its annual shareholders' meeting as the German carmaker struggles to put an exact price on its diesel emissions scandal. More than four months after the scandal broke in the United States, Europe's … More »

    Reuters - Sat 6 Feb, 2016 12:14 AM IST
  • India sets floor price for steel imports to stem flow from China

    India sets floor price for steel imports to stem flow from China

    India on Friday set a floor price for imports of steel products to deter countries such as China from undercutting local mills, the first time it has taken such a step in over 15 years even as the country remains the world's only major growing steel market. Top Indian steel makers such as JSW … More »

    Reuters - Fri 5 Feb, 2016 10:38 PM IST
  • Russia's luxury flagship store turns to Chinese spenders

    Framed by Swarovski crystal figurines and crocodile skin-clad smart phones, sales promotions at Moscow's exclusive TsUM department store are being publicised in two languages: Russian, of course, and now Chinese. The bi-lingual signs, promising to match the prices of all luxury goods with those on … More »

    Reuters - Fri 5 Feb, 2016 10:28 PM IST
  • Vijaya Bank net up 41 percent in Q3

    Bengaluru, Feb 5 (IANS) State-run Vijaya Bank on Friday reported net profit of Rs.53 crore for third quarter of 2015-16, registering 43 percent annual growth from Rs.37 crore posted in same period a year ... … More »

    IANS - Fri 5 Feb, 2016 9:50 PM IST
  • Bosch net up 99 percent in Q3

    Bengaluru, Feb 5 (IANS) German automotive major Bosch Ltd on Friday reported net profit of Rs.221 crore for third quarter of 2015-16, a whopping 99 percent growth over the same period last year. According to the statement of unaudited financial results posted on the Bombay Stock Exchange (BSE), … More »

    IANS - Fri 5 Feb, 2016 9:44 PM IST
  • Accused "flash crash" trader Navinder Sarao's actions not a crime in UK, court hears

    Accused "flash crash" trader Navinder Sarao's actions not a crime in UK, court hears

    A London-based trader, accused by the U.S. of contributing to the 2010 Wall Street "flash crash", should not be extradited because the offences he is accused of are not crimes in Britain, his lawyers said on Friday. Navinder Sarao also had only a "gossamer thin" link to the 2010 market plunge, his … More »

    Reuters - Fri 5 Feb, 2016 8:40 PM IST
  • 'Improving loan origination quality must for securitisation market to develop'

    Chennai, Feb 5 (IANS) Securitisation of loan accounts is one way of improving liquidity of banks' assets but the development of securitisation market depends on improving the quality of loan origination, said a senior official of the Reserve Bank of India (RBI) here on Friday. "For the … More »

    IANS - Fri 5 Feb, 2016 8:22 PM IST
  • South Africa aims to lift coal exports to India

    South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal last year, industry officials said on Friday, as a drop in exports from rival Indonesia opens up the chance to grab market share. Data from analytics consultancy IHS Energy shows that around … More »

    Reuters - Fri 5 Feb, 2016 8:19 PM IST
  • Auto Expo attracts 71,000 visitors on first public day

    Greater Noida, Feb 5 (IANS) Auto Expo 2016 attracted as many as 71,000 visitors on its first public day on Friday, event officials said. According to the event organisers, the superbikes section of the ... … More »

    IANS - Fri 5 Feb, 2016 8:06 PM IST
  • Exclusive - Iran wants payment in euros for new oil sales and old dues from India, others: source

    Iran wants to recover tens of billions of dollars it is owed by India and other buyers of its oil in euros and is billing new crude sales in euros, too, looking to reduce its dependence on the U.S. dollar following last month's sanctions relief. A source at state-owned National Iranian Oil Co … More »

    Reuters - Fri 5 Feb, 2016 8:05 PM IST
  • Eicher Motors' consolidated yearly net profit up 52 percent

    Mumbai, Feb 5 (IANS) Automobile major Eicher Motors on Friday reported a 52.4 percent rise in its consolidated net profit for the calendar year ended December 31, 2015. According to the company, its net ... … More »

    IANS - Fri 5 Feb, 2016 7:44 PM IST
  • Tata Motors invites suggestions to rename its hatchback

    Mumbai, Feb 5 (IANS) Automobile major Tata Motors on Friday invited suggestions on a new name for its hatchback which was earlier brought in as Zica. The Zika virus, native to parts of Africa and Asia, has for the first time been introduced into the Americas where it is spreading locally among … More »

    IANS - Fri 5 Feb, 2016 7:40 PM IST
  • BMW launches renewed X5 SUV

    Gurgaon, Feb 5 (IANS) Luxury car-manufacturer BMW Group India has launched locally-produced Sports Utility Vehicle (SUV) BMW X5 xDrive 30d M Sport, it was announced on Friday. "The new BMW X5 xDrive30d ... … More »

    IANS - Fri 5 Feb, 2016 7:06 PM IST
  • Hopes on passage of key economic laws buoy equity markets

    Mumbai, Feb 5 (IANS) Hopes on passage of key economic legislations, short-covering and value-buying at the lower levels buoyed the Indian equity markets on Friday. This led to a barometer index of the ... … More »

    IANS - Fri 5 Feb, 2016 6:56 PM IST
  • India may decide on GM food as China makes big leap with Syngenta buy

    India may decide on GM food as China makes big leap with Syngenta buy

    Officials may decide on Friday whether to allow what could be India's first genetically modified (GM) food crop, mustard, spurred by food security concerns and as China makes a big bet on the technology with a $43 billion bid for seed firm Syngenta. Permitting GM food crops is a big call for a … More »

    Reuters - Fri 5 Feb, 2016 6:51 PM IST
  • India says no rush on GM food but will not stand in way of science

    India says no rush on GM food but will not stand in way of science

    India needs more data before deciding whether to permit commercial growing of its first genetically modified food crop, Environment Minister Prakash Javadekar said on Friday, but indicated it would not stand "in the way of science" despite protests. A committee of government and independent … More »

    Reuters - Fri 5 Feb, 2016 6:50 PM IST
  • Aurobindo, Axis Bank, Reliance in Citi Asia Focus List of stocks

    Mumbai, Feb 5 (IANS) American firm Citigroup's revised Focus List Asia of 18 corporates, released on Friday, showed only three Indian companies - Aurobindo, Axis Bank and Reliance Industries Ltd (RIL) ... … More »

    IANS - Fri 5 Feb, 2016 6:50 PM IST
  • ArcelorMittal to raise $3 bln after Chinese steel exports hit profits

    ArcelorMittal to raise $3 bln after Chinese steel exports hit profits

    ArcelorMittal, the world's largest steelmaker, launched plans on Friday for a $3 billion share issue to help reduce debt and cut costs, having been hit by a plunge in steel prices which it blamed on a surge in cheap exports from China. ArcelorMittal's share price has dropped 60 percent in the past … More »

    Reuters - Fri 5 Feb, 2016 6:46 PM IST
  • Eicher launch 'trucking intelligence' at Auto Expo

    Greater Noida, Feb 5 (IANS) Gurgaon-based Indian automaker Eicher Trucks and Buses, part of the Volvo Eicher Commercial Vehicles (VECV), launched Eicher Live -- an advanced telematics solution for the ... … More »

    IANS - Fri 5 Feb, 2016 6:38 PM IST
  • Lupin expects diabetes drug sales to lift Q4 profit

    Lupin expects diabetes drug sales to lift Q4 profit

    Lupin Ltd, India's third-largest drugmaker, reported a quarterly profit that met estimates as strong sales in its local market help offset weakness in the United States, and the company said it expects fourth-quarter earnings to improve. Sales in India, Lupin's second-largest market, rose 17 … More »

    Reuters - Fri 5 Feb, 2016 6:30 PM IST
  • Nucleus Satellite Communication to have new plant in Sri City

    Chennai, Feb 5 (IANS) City-based Nucleus Satellite Communiciations (Madras) on Friday laid the foundation for a new dish antenna plant at Sri City near here, announced Sri City Pvt. Ltd. In a statement ... … More »

    IANS - Fri 5 Feb, 2016 6:22 PM IST
  • Expression of interest to be floated soon for Bengal food park: Mitra

    Kolkata, Feb 5 (IANS) The central government would soon float an expression of interest for setting up a mega food park in West Bengal, state Industry Minister Amit Mitra said on Friday. "The centre will issue an EoI very soon for setting up the mega food park. A minimum 50 acres of contiguous … More »

    IANS - Fri 5 Feb, 2016 6:14 PM IST
  • InFocus launches new series of smartphones

    New Delhi, Feb 5 (IANS) US-based tech giant InFocus on Friday launched its BINGO series of smartphones targeted at young users in India. "BINGO series of smartphones from InFocus stands for unmatched ... … More »

    IANS - Fri 5 Feb, 2016 6:06 PM IST
  • India's economic growth likely lost steam at end 2015 - Reuters Poll

    India's economy probably lost momentum towards the end of 2015 on dwindling domestic and global demand even as the Reserve Bank of India (RBI) eased policy four times to boost growth last year, a Reuters poll found. Although that would further add to evidence of a global economic slowdown getting … More »

    Reuters - Fri 5 Feb, 2016 5:56 PM IST

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