Business news

Budget Deficit: India Slashes Healthcare Budget by Almost a Fifth

The Finance ministry has cut spending on healthcare in a struggle to contain its fiscal deficit

Dec 24, 2014

BSE closes points 195.33 down on Dec 23

New Delhi, Dec 23 (ANI): Trading at the Bombay Stock Exchange today closed 195.33 points down to stand at 27,506.46. At the National Stock Exchange the Nifty closed 57.00 points down to stand at 8,267.00. GUJRAT GAS and EDELWEISS were among the top gainers of Group A with an increase of 17.92% and 6.19% along with PAGE INDUSTRIES LTD. and DCB BANK with an increase of 6.13% and 6.13% respectively, while the top losers of Group A include SCI and RASOYA PROTEINS LTD. with a decrease of 4.89% and 4.65% along with JAIN IRRIGATION SYSTEMS LTD. and VOLTAS with a decrease of 4.49% and 4.32% at the close of the markets. The Auto sector is down 24.77 points at 18,585.69 while the banking sector is down 153.69 points at 21,301.93 and the reality sector is down 11.64 points at 1,502.73. The Indian currency is up 0.13% at Rs 63.37per dollar.

Dec 23, 2014

American Apparel Confirms Buyout Approach; Dov Charney Speaks Out

American Apparel, the famous clothing brand that recently hired a new CEO after firing founder head Dov Charney, confirmed on Monday that it was approached for a buyout.

Dec 23, 2014

Open Up Coal Sector To Enhance Production, Says Suresh Prabhu-headed Advisory Group

The advisory group suggested reforms to open up the coal sector and to increase production, along with suggestions to make it easier to move coal to required industries.

Dec 23, 2014

Oracle Buys Datalogix to Overtake Rivals Salesforce and Adobe

Oracle Corp., the computer technology giant, announced on Monday that it has acquired Datalogix Holdings Corp., the consumer data collection company for an undisclosed amount.

Dec 23, 2014

Russia Could Get 'Junk' Status in 2015, Says Former Minister; China Willing To Aid Falling Ruble

The Russian government's slow stance on the growing economic instability could earn it the "junk" status in 2015, former finance minister Alexei Kudrin said on Monday.

Dec 23, 2014

Tata SIA's 2015 Gift to Indian Flyers, Vistara to Take to Indian Skies on 9 January

Tata Sons and Singapore Airlines full service airline, Vistara is to start flying in Indian skies from January 9, 2015.

Dec 23, 2014

India Inc Raises Record $19bn in 2014; India's External Debt Crosses $500bn

India Inc forex debt issuance finds acceptance in investor community, a record $19bn raised in 2014.

Dec 22, 2014

SpiceJet To See Ajay Singh Again? Shares Rally 20%

SpiceJet's co-founder is said to be interested to buy back the airline and to infuse much needed capital in association with financial majors and PE funds ₹

Dec 22, 2014

Xiaomi Redmi 1S Successor Release Date, Specs and Price Details Leaked

Xiaomi Raises $1 billion in Fresh Fundraising; Firm Now Valued at $45 Billion

Xiaomi, the third-largest smartphone maker in the world and the largest in China, has reportedly managed to raise $1 billion in its latest round of funding, which now values the company at $45 billion.

Dec 22, 2014

Oil Prices Spike to $63, Investors Confident of Prices Staying at $60 Level

Brent crude prices increased 2 percent to $63 on Monday as investors believed that prices would remain around $60 for the rest of the year. News of the spike comes right after Saudi Arabia defended its decision to not impose any cuts on oil production and said they would stick to it.

Dec 22, 2014