Business news

Novartis splits drugs business into two, pharma chief to leave

David Epstein, the American head of Novartis Pharmaceuticals and a 27-year veteran with the group, will leave the company to "explore new challenges from the U.S.," Novartis said.

May 18, 2016

Japan brewer Asahi says it won't bid for SABMiller's East Europe assets

Instead Asahi will focus on raising sales of the Peroni, Grolsch and Meantime beer brands that it agreed to buy from SABMiller last month for $2.89 billion.

May 18, 2016

Apple CEO's likely agenda for multi-day India visit

The world's second-largest smartphone-maker remains under-penetrated in the world's second-largest market by volume.

May 17, 2016

Bombay Stock Exchange BSE indian stock markets equitas holdings small bank

Shares of SBI associate banks spurt on merger proposal; about 40,000 bank jobs at stake

SBBJ, SBT and SBM rose in the range of 4 to 13 percent on Tuesday over proposed merger with parent State Bank of India.

May 17, 2016

Biocon to develop oral insulin on its own after US drugmaker opts out of joint project

U.S.-based pharma company Bristol Myers Squibb (BMS) opted out of the deal in January.

May 17, 2016

SpiceJet offers domestic airfares at Rs. 511 and international airfares at Rs. 2,111

SpiceJet's sale price is applicable only for direct flight within the network across seven domestic routes and seven international destinations.

May 17, 2016

HSBC cuts 840 jobs in UK as part of its restructuring plan

Most of the staff affected were informed about the job cuts on Monday, sources were quoted as saying by Reuters.

May 17, 2016

Oil futures hold near six-month highs as supply concerns dominate

Crude futures have rallied for most of the past two weeks from a combination of Nigerian, Venezuelan and other outages.

May 17, 2016

Aramco awards Hasbah gas expansion contract to L&T and Emas AMC

Work on the expansion scheme includes building platforms and pipelines, with the field's supply feeding the Fadhili gas plant.

May 17, 2016

RBS initiates closure of branches, to shut India banking business by year-end

The bank will shut down all its 10 retail branches in the country in a phased manner.

May 16, 2016

Bank of Baroda shares plummet 10% on BSE, Sensex rebounds to gain 164 points

State-run lender Bank of Baroda had declared a huge loss of Rs. 3,230 crore for the March 2016 quarter last Friday after market hours.

May 16, 2016

Madura Fashion & Lifestyle keen to run Forever 21 stores in India

The division of Aditya Birla Fashion and Retail is in race to get the retail sales rights of Forever 21, the Times of India reported.

May 16, 2016

Phillips Carbon Black shares fall despite upbeat March quarter results

Phillips Carbon Black is a RP-Sanjiv Group firm and makes raw materials for automative tyres.

May 16, 2016

African carrier Ethiopian Airlines plans expansion in India

The African carrier plans to expand its India operations by adding more flights and upgrading aircraft.

May 16, 2016

Japan leads Asia to modest gains; dollar steady

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 percent.

May 16, 2016

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Tamil Nadu: DMK to stage state-wide protest against AIADMK on Oct 3 and 4

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