IT/ITes

  • The government's thrust in the Budget on growth, infrastructure, job creation and skill development is likely to have a positive impact for the IT/BPO sector, writes KPMG India Partner Naveen Aggarwal.

  • According to some estimates, Airbus Group alone sourced over $300 million worth of products and services from India in 2013/14. The figure was $200 million in 2011/2012.

  • Budget raises India's profile, says TCS chief IANS - Sat 28 Feb, 2015 11:16 PM IST

    Bengaluru, Feb 28 (IANS) The union budget for 2015-16 was far sighted and bold to raise the country's profile as an investment destination, a top official Tata Consultancy Services (TCS) said Saturday. "The budget aims to make structural changes in taxation for driving higher corporate investment and sets a roadmap of …

  • "The budget does not address some key issues like section 56 for angel tax, dual levy of taxes on products, service tax refunds and clarity on transfer pricing," Nasscom president R. Chandrashekhar said in a statement here. Start-ups raising funds from angel investors have to pay 33 percent as tax under section 56 (2) …

  • Sensex closes 141 points up, bank stocks zoom IANS - Sat 28 Feb, 2015 6:24 PM IST

    Mumbai, Feb 28 (IANS) In a volatile session, a benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), ended Saturday's trade up 141 points or 0.48 percent. The choppy session ...

  • Sensex closes 233 points up; bank stocks zoom IANS - Sat 28 Feb, 2015 4:06 PM IST

    Mumbai, Feb 28 (IANS) In a volatile session, a benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), provisionally ended Saturday's trade up 233 points or 0.80 percent. The ...

  • Nifty Technical Outlook Post Budget MoneyWorks4me.com - Sat 28 Feb, 2015 2:39 PM IST

    Nifty is trading in the broader range of 8500-9000 since last 6 months and a lot of Investors are wondering whether it has the strength to further move-up or has it already made a top.  So, here’s a technical ...

  • Sensex down 209 points, FMCG stocks plunge IANS - Sat 28 Feb, 2015 2:26 PM IST

    Mumbai, Feb 28 (IANS) A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), Saturday traded 209 points or 0.72 percent down in late afternoon trade after Finance Minister ...

  • New Delhi, Feb 28 (IANS) Aiming to support start-up businesses and other self-employment activities, the government proposes to establish a Self Employment and Talent Utilisation (SETU) mechanism for which it will set aside Rs.1,000 crore initially in the NITI Aayog. "The government is establishing a mechanism to be known …

  • Budget could set course for Indian software product … India Today Group - Sat 28 Feb, 2015 2:24 AM IST

    Here are some topics that the budget could address and shape the industry of the future.

  • Bullish sentiments prevailed as the day's biggest trigger - the Economic Survey - was tabled in the Lok Sabha by Finance Minister Arun Jaitley. The survey projected India's economic growth at more than 8 percent for the next fiscal. The wider 50-scrip Nifty of the National Stock Exchange (NSE) also closed the day's trade …

  • Budget 2015-16: What telecom companies want Simplus Information Services - Fri 27 Feb, 2015 12:58 PM IST

    The ‘Make in India’ and ‘Digital India’ projects by the government look promising to the telecom sector. It depends of the ministry of finance as to what gets transformed into reality.

  • Sensex surges 145 points ahead of the economic sur … IANS - Fri 27 Feb, 2015 11:42 AM IST

    Mumbai, Feb 27 (IANS) Just a day ahead of the union budget, a benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex) surged 145 points or 0.50 percent in the pre-afternoon trade ...

  • New Delhi, Feb 26 (IANS) Suresh Prabhu's maiden railway budget Thursday failed to impress six of his predecessors in the ministry, who called the proposals "repetitive", "just an idea" and even "anti-people". Pawan Bansal, Prabhu's immediate predecessor, said the National Democratic Alliance government's railway budget …

  • Bengaluru, Feb 26 (IANS) Leading US-based industrial automation solutions provider Rockwell Automation is partnering with global network equipment major Cisco Systems and Microsoft to help Indian industry boost productivity through joint solutions development and integrated solutions and services. Increasing awareness …

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Oil & Gas

  • What FM Jaitley's Budget, PM Modi's Make in … India Today Group - 22 hours ago

    A million Indians join the workforce every month. What can Arun Jaitley's Budget and Narendra Modi's Make in India do for them?

  • A worker walks through the site of the 34th St. Hudson Yards stop for the Number 7 subway line still under construction in New York

    U.S. economic growth braked more sharply than initially thought in the fourth quarter amid a moderate increase in business inventories and a wider trade deficit, but strong domestic demand brightened the outlook. Gross domestic product expanded at a 2.2 percent annual pace, revised down from the 2.6 percent pace estimated …

  • Oil price slump threatens Malaysia's oil ambitions Reuters - Fri 27 Feb, 2015 2:55 AM IST

    A collapse in oil prices is making it harder to attract investment in the next phases of a plan to build one of Asia's biggest energy hubs on Malaysia's southernmost tip, a development estimated to be worth over $50 billion. The Pengerang Integrated Petroleum Complex (PIPC) aims to help Malaysia compete with Singapore …

  • Union Budget 2015-16: 10-point agenda to rejuvenate … India Today Group - Thu 26 Feb, 2015 4:12 AM IST

    With oil prices showing clear signs of a recovery, inflationary pressures are likely to return and trade deficits, which remained low despite dwindling exports, are likely to widen again.

  • New Delhi, Feb 18 (IANS) State owned oil and gas miner Oil and Natural Gas Corporation Ltd (ONGC) Wednesday said it has entered into a technological partnership with a private firm which will ease it in shale gas exploration. "With this partnership, ONGC will provide assistance to Super Wave Technology Pvt. Ltd (the partner) …

  • GE to use new India manufacturing facility as export … Reuters - Sat 14 Feb, 2015 4:39 PM IST
    The logo of US conglomerate General Electric is pictured at the company's site in Belfort

    General Electric Co will use its new manufacturing facility in India, which was formally inaugurated on Saturday, as an export hub, with plans to send half of its output to the conglomerate's global factories. The 67-acre plant in Chakan, near Pune, is GE's first multi-purpose manufacturing facility in India, which will …

  • Hyderabad, Feb 13 (IANS) The government of Andhra Pradesh will sign a MoU with Kuwait-based Al Qebla Al Watya for a major refinery and petro chemical complex. Al Qebla Al Watya, part of Al Kharafi Group, has significant experience in oil and gas sector, including refineries and petro-chemical complexes. The company has …

  • A Rolls-Royce logo is seen on a car displayed on media day at the Paris Mondial de l'Automobile

    British engineer Rolls-Royce warned that profit could come in as much as 14 percent lower this year compared with last year, citing oil price uncertainty and slowing growth in Europe and China. Rolls-Royce said on Friday it expected pretax profit of 1.4 billion pounds to 1.55 billion pounds ($2.16-2.39 billion) in 2015, …

  • Rio Tinto defies commodity rout with big payout Reuters - Thu 12 Feb, 2015 2:27 PM IST
    A man waits to enter the Rio Tinto Limited Shanghai Representative Office in Shanghai

    Global miner Rio Tinto handed $2 billion in capital to shareholders on top of a higher than expected dividend on Thursday, despite reporting its worst half-year profit in two years. The bumper return came after the world No.2 miner cut costs, capital spending and debt to shore up its cash flows against collapsing commodity …

  • The Job at Hand India Today Group - Sat 7 Feb, 2015 7:02 PM IST

    A million Indians join the workforce every month. What can Arun Jaitley's Budget and Narendra Modi's Make in India do for them?

  • People enter the Nassau County Mega Job Fair at Nassau Veterans Memorial Coliseum in Uniondale, New York

    U.S. job growth rose solidly in January and wages rebounded, a show of economic strength that put a mid-year interest rate increase from the Federal Reserve back on the table. "A mid-year lift-off in the interest rate is fait accompli ... there was good news on many fronts," said Sung Won Sohn, an economics professor at …

  • Indonesia 2014 growth slowest in 5 years, but govt … Reuters - Thu 5 Feb, 2015 1:32 PM IST
    Indonesian labourers load cement onto a ship at Sunda Kelapa port in Jakarta

    Indonesia's economic growth slipped to its weakest in five years in 2014 as weak exports and investments dragged, underlining the challenges facing the country's new President Joko Widodo. Southeast Asia's largest economy is finding it harder to fire up its engines of growth with the ending of the commodities boom and …

  • New Delhi, Feb. 4 (ANI): The Oil and Natural Gas Corporation Limited (ONGC) has bagged the prestigious Golden Peacock award for Corporate Social Responsibility for 2014.

  • Oil major BP beat expectations for the fourth quarter of 2014 thanks to a surprise profit from its stake in Russian oil giant Rosneft while taking a $3.6 billion impairment charge and cutting spending due to low oil prices. The outperformance was due to an unexpected profit of $470 million from Rosneft which has been hit …

  • Global Economy: Deflation alarms ring as EU, Chinese … Reuters - Mon 2 Feb, 2015 10:26 PM IST
    Employees assemble electronic components along a production line at a factory in Hefei

    Central banks from Switzerland to Turkey, Canada and Singapore have already loosened monetary policy in the past few weeks. The European Central Bank also announced a near-trillion-euro quantitative easing programme in a bid to revive inflation and drive up growth, though much of the bloc's manufacturing purchasing managers' …

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Banking & Finance

  • Indian Banks to Modify Interest Rates for Savings  … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks may revise the interest rates on saving deposit account balance exceeding Rs 100,000, reported Business Standard. Private sector lenders such as Kotak Mahindra Bank and IndusInd ...

  • Canara Bank to Set up 47 Micro Enterprises Biz Cen … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian public sector lender Canara Bank has plans to set up 47 Micro Enterprises Business (MEB) centres all over the country. The Bangalore-based PSB explained that the proposed MEB centres ...

  • Indian Banks Achieve Jan Dhan Account Opening Targ … Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian banks have achieved the target of opening 75.16 million accounts for the low-income households under the Pradhan Mantri Jan-Dhan Yojana (Prime Minister's People Funding Scheme), reported ...

  • Axis Bank Garners $500 Mln via Bonds Contify Banking - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian private sector lender Axis Bank has garnered capital worth $500 million in a 5.5-year dollar-money at 3.25% fixed rate coupon. The Mumbai-based lender has raised the capital through its ...

  • Essar Steel Algoma Garners $1.2 Bln for Debt Refin … Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Essar Steel’s Canadian subsidiary, Essar Steel Algoma, has garnered around $1.2 billion to refinance its previous debts, Business Line reported. The refinancing comprises a debt of $750 million, ...

  • DoT to Start 3G Spectrum Auction from Feb 23, 2015 Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- The Department of Telecommunications (DoT) stated that the proposed spectrum auction will start from February 23, 2015 instead of February 3, Business Standard reported. The delay is due to ...

  • SpiceJet Hopes to Make Profit in 12 Months Contify Investment - Wed 19 Nov, 2014 11:00 PM IST

    Nov. 19 -- Indian low-cost carrier SpiceJet aims to see profit within a year after receiving fresh amount of capital by sealing a mega deal, Business Standard reported. The company is about to close the ...

  • Citibank India Names Arvind Vashistha as Its Equity … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Citibank India, a subsidiary of US-based global financial service corporation Citigroup, has named Arvind Vashistha as its equity markets head. Vashistha would be reporting to Citibank India’s ...

  • NSE, BSE Keen to Set up Small Banks Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Indian bourses the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) are considering to open small banks across the country once the Reserve Bank of India (RBI) start the application ...

  • Govt Nominates Hasmukh Adhia as RBI Director Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- The Indian government has nominated Hasmukh Adhia as a director on the Central Board of Directors of the Reserve Bank of India (RBI). Adhia has assumed the new role with effect from November ...

  • Central Bank of India Rolls out Two New Schemes for … Contify Banking - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- India’s public sector lender Central Bank of India has unveiled two latest schemes to facilitate its retail customers to avail housing loan by way of overdraft facility and liquidity on their ...

  • Reliance Jio Garners $1.5 Bln to Repay Loans Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Reliance Jio Infocomm (RJIL), the telecom unit of the diversified group Reliance Industries Ltd (RIL), plans to garner around $1.5 billion from a consortium of 26 banks to refinance the loans. ...

  • India's Domestic Air Traffic Increases 18.31% in Oct … Contify Investment - Tue 18 Nov, 2014 8:38 PM IST

    Nov. 18 -- Domestic air traffic increased by 18.31% in October this year as airlines carried over 59.25 lakh passengers during the month compared to 50.08 lakh passengers in the same month last year, Directorate ...

  • SBI Likely to Offer $1 Bln Loan to Adani for its Australian … Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 – India’s largest public sector lender State Bank of India has inked an agreement with Adani Enterprises allowing the conglomerate to avail loan up to $1 billion for the development of its infrastructure ...

  • Govt to Meet PSB chiefs on Nov 20 Contify Banking - Mon 17 Nov, 2014 8:21 PM IST

    Nov. 17 --The finance ministry has scheduled a meeting with the chiefs of government-owned banks on November 20 to review the financial performance of PSBs and progress of Pradhan Mantri Jan Dhan Yojana ...

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