Business news

President Approves Ordinances on Coal, Insurance

President Pranab Mukherjee signs two key ordinances, clearing the way for the auction of coal blocks that were ordered cancelled by the Supreme Court

Dec 26, 2014

Citigroup Sells Japan Retail Banking Unit to Sumitomo Mitsui Banking Corp

Citigroup Holdings Inc., announced on Thursday that it reached a definitive agreement to sell its retail banking unit in Japan to Sumitomo Mitsui Banking Corporation (SMBC), a unit of Sumitomo Mitsui Financial Group. The financial terms of the deal were not disclosed.

Dec 26, 2014

Govt to Issue ₹1 Currency Note After Gap of Two Decades

The 1 Rupee note to start being printed from 2015, move aims to mitigate coin shortage ₹

Dec 26, 2014

arun-jaitley-stresses-on-need-for-meaningful-employment-at-second-edition-of-services-conclave

Jaitley to Meet State FMs and Stakeholders to Discuss FY 2015/16 Budget

Jaitley will meet the state finance ministers and representatives of other stakeholders to help formulate the forthcoming budget in order to address economic fundamentals

Dec 26, 2014

LG Electronics Headquarters Raided on Sabotage Suspicions

Investigators raided the headquarters of LG Electronics on Friday on suspicions that the company could have damaged washing machines of rival company Samsung Electronics at their German retail stores.

Dec 26, 2014

India Hikes Import Duty on Crude, Refined Oil by 5%

The Finance Ministry has increased import duties by 5% on crude and edible oil, in a bid to protect local producers

Dec 26, 2014

India Becomes World's Largest Direct Benefit Transferer on LPG Subsidy Scheme

The world's second most populous nation successfully rolls out its Direct Benefit Transfer for LPG in 54 districts, with others to be covered in 2015

Dec 26, 2014

Ajay Singh-led Consortium to Submit SpiceJet Revival Plan to Government

The cash strapped airline would see a round of funding, if the revival plan to be submitted by its former promoter receives the green light

Dec 26, 2014

Wal-Mart Offering Steep Discounts On PS4, Xbox One: Get Best Deal On Bundles

Walmart to Raise Salaries as New Minimum Wage Hike Law Hits 21 US States

Walmart Stores Inc, the American retail chain, will have to adjust base salaries of employees working at more than 1,400 stores across 21 states in America as a new minimum wage hike law is set to go into effect in January 2015.

Dec 25, 2014

Putin Calls for Vodka Price Cap Amid Economic Crisis

Russian President Vladimir Putin called for a cap on vodka prices on Wednesday in a drastic attempt to preserve his popularity as the Russian economy falters.

Dec 25, 2014

DRDO Secretary Says Rustum2 UAV to be Ready in a Year

The Rustum2 UAV for the Indian Defense forces to be ready in a year, says DRDO Secratary

Dec 24, 2014

Sony Xperia Z5 To Follow Xperia Z4's Lead With New Design, 2K Screen In Q4 2015

Sony Threatens Twitter with Legal Action Over Hacked Content

Sony Pictures threatened social media website Twitter with legal action if it didn't block out individuals and accounts that constantly posted content from the leaked emails exposed by the hackers.

Dec 24, 2014

PE Firm Indigo Partners To Lead Consortium In Ajay Singh's Bid To Takeover SpiceJet

PE funds - Indigo Partners, TPG Capital and JPMorgan Infrastructure are said to back Ajay Singh's bid to take over the beleaguered airline and to pump in the required funds.₹

Dec 24, 2014

Uber CEO Travis Kalanick Indicted in South Korea for Operating Without Licences

Travis Kalanick, the CEO of Uber, the controversial ride-sharing service, and its South Korean unit were indicted by the government for violating transport laws in the country.

Dec 24, 2014

CEA Arvind Subramanium Asks RBI to Cut Rate to Spur Investment, Drive Growth

Arvind Subramanium called on the RBI to cut rates to help increase investments and boost the GDP rate to 7-8%

Dec 24, 2014

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