Business news

Commerce and Industry Minister Nirmala Sitharaman on the right

FDI rises 25% in April to October to $17.35 bn, Says Nirmala Sitharaman

The nation has witnessed foreign direct investment raise by 25%

Dec 29, 2014

Allianz Jinxed? After MH370 and MH317, Company Confirms It is Lead Insurer to Missing AirAsia Flight; Could Take $100 mn Hit in Claims

Allianz SE, the German multinational financial services company, confirmed on Monday that it was the lead re-insurer for the AirAsia flight that went missing on Sunday. Agencies believe the payout could cost more than $100 million.

Dec 29, 2014

Sources: Modi Govt Eyes Surplus Land of PSUs for New Infra, Manufacturing Projects

Extra land held by state-run companies could be used for new infra projects, as per a plan of the Narendra Modi-led government to help speed up progress in land acquisition.

Dec 29, 2014

Vijay Mallya's Kingfisher Airlines Set to Lose Flying Licence on 31 December

Mallya is all set to be slapped with a wilful defaulter tag by UBI, after the Calcutta High Court rejected the bank's action on technical grounds; also Kingfisher Airlines would see its Air Operator Permit expiring on 31 December. ₹

Dec 29, 2014

AirAsia Shares Plummet to Three-Year Low on Missing Flight Incident

Shares of AirAsia slid to 7.8% on Monday marking the biggest drop in the past three years, after a flight travelling to Singapore from Indonesia went missing on Sunday.

Dec 29, 2014

RBI Governor Raghuram Rajan Questions Govt's Farm Debt Waiver Schemes

Rajan said that studies show such measures to be ineffective, adding that debt waivers effectively dry up formal credit facilities post waiver to the farmers.

Dec 27, 2014

US-Russia Trade Improves Despite Sanctions

Trade between the United States and Russia spiked by 7 percent despite the economic sanctions levied by the U.S. on the country, President Vladimir Putin said.

Dec 27, 2014

No Flip-Flops on Interest Rate, says Rajan; Will Wait for Inflation to Stabilise

Raghuram Rajan reiterated his stand on the interest rate cut, economic growth, inflation and Uber.

Dec 27, 2014

Supertech's 'Free' Flat Offer Comes at a Price

The scheme is valid only for top-floor flats, which costs around Rs 1.38 crore.

Dec 27, 2014

And The Richest People of 2014 Are… (PHOTOS)

The year 2014 has perhaps seen the highest number of people joining the "Billionaire's Club".

Dec 27, 2014

SpiceJet Eases 6-months Notice Period, Will let Pilots Disembark on 31 December

Even as it awaits recapitalisation, SpiceJet has informed 50 of its pilots who have resigned, about their last working day as 31 December 2014.

Dec 27, 2014

SpiceJet's Recapitalisation could See ₹1,500 Crore Infusion; New Investors Seek ECB Route

The Ajay Singh led recapitalisation move for the beleagured airline could see a sum of ₹1,500 crore invested in the airline, with ₹500-₹600 crore through ECB mechanism

Dec 27, 2014

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BSE closes points 33.17 up on Dec 26

Trading at the Bombay Stock Exchange today closed 33.17 points up to stand at 27,241.78. At the National Stock Exchange the Nifty closed 26.60 points up to stand at 8,200.70. UNIONBANK and AJANTA PHARMA LTD. were among the top gainers of Group A with an increase of 5.65% and 5.26% along with BAYER CROPSCIENCE LTD. and SYNDICATE BANK with an increase of 5.03% and 4.93% respectively, while the top losers of Group A include RASOYA PROTEINS LTD. and GSFC with a decrease of 4.49% and 3.87% along with OBEROI REALTY LTD. and JUBILANT with a decrease of 3.60% and 3.13% at the close of the markets. The Auto sector is down 7.42 points at 18,455.13 while the banking sector is up 26.66 points at 21,253.30 and the reality sector is up 14.09 points at 1,533.94. The Indian currency is up 0.13% at Rs 63.60 per dollar.

Dec 26, 2014

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

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