Business news

arun-jaitley-at-vibrant-gujarat-summit-part-1

FM Jaitley Hails Rate-Cut as 'Positive for Indian Economy'

FM Jaitley called the RBI rate cut as a very positive move for the economy and hopes that the investment cycle would get a boost

Jan 15, 2015

RBI Signals More Rate Cuts after 25 Basis Point Reduction in Repo Rate

In a surprise move the RBI brings down the lending rate to 7.75% from 8%, the first reduction in almost a year.

Jan 15, 2015

Markets Soar After RBI Cuts Lending Rate by 0.25 Per Cent

Sensex up by 450 points and bank stocks also skyrocket after news of the rate cut.

Jan 15, 2015

World Bank President Jim Young Kim and India's Prime Minister Narendra Modi

World Bank Projects India's GDP to Surpass China's by 2017

The World Bank's Global Economic Prospects projects India to post 6.4% GDP growth rate in 2015, with the economy expanding by 7% in 2016.

Jan 14, 2015

BSE closes points 78.91 down on Jan 14

New Delhi, Jan 14 (ANI): Trading at the Bombay Stock Exchange today closed 78.91 points down to stand at 27,381.46. At the National Stock Exchange the Nifty closed 10.95 points down to stand at 8,288.45. Bajaj Finance Limited and DABUR were among the top gainers of Group A with an increase of 7.76% and 7.48% along with NHPC and MARICO with an increase of 6.49% and 6.09% respectively, while the top losers of Group SSLT and HINDALCO with a decrease of 8.29% and 6.24% along with FSL and DCBBANK with a decrease of 5.36% and 4.36% at the close of the markets. The Auto sector is up 81.91 points at 18,914.59 while the banking sector is down 54.04 points at 21,366.59 and the reality sector is down 10.92 points at 1,492.18. The Indian currency is down 0.06% at Rs 62.18 per dollar.

Jan 14, 2015

Budget 2015 - Increase Infra Spending, Allow Fiscal Deficit To Widen, Adopt Fiscal Consolidation, Says Financial Experts

Investors are willing to cut the government some slack, if it invests in infrastructure projects while reforming the tax revenues.

Jan 14, 2015

TCS Denies Large-Scale Layoffs, But Says 500 More Employees Will be Asked to Quit

TCS has reportedly asked its 2,574 employees to leave the company within nine months of FY16.

Jan 14, 2015

BSE closes points 159.54 down on Jan 13

New Delhi, Jan 13 (ANI): Trading at the Bombay Stock Exchange today closed 159.54 points down to stand at 27,425.73. At the National Stock Exchange the Nifty closed 23.60 points down to stand at 8,299.40. FINOLEX INDUSTRIES LTD. and EMAMILTD. were among the top gainers of Group A with an increase of 14.95% and 6.63% along with SRF and SKS MICROFINANCE LTD. with an increase of 5.57% and 5.48% respectively, while the top losers of Group UNITECH and PMCFIN with a decrease of 5.29% and 4.97% along with RASOYA PROTEINS LTD. and IRB with a decrease of 4.90% and 4.85% at the close of the markets. The Auto sector is down 14.22 points at 18,832.68 while the banking sector is down 118.14 points at 21,420.63 and the reality sector is down 28.40 points at 1,503.10. The Indian currency is down 0.02% at Rs 62.15 per dollar.

Jan 13, 2015

Zomato Buys US Food Portal Urbanspoon for $50 mn; Plans to Raise $100 mn in Fresh Funding

Indian start-up Zomato acquires US-based food portal Urbanspoon for $50mn in an all-cash deal and plans to raise $100mn in fresh funding.

Jan 13, 2015

Lei Jun, founder and chief executive officer of China's mobile company Xiaomi Inc, introduces the new features of Xiaomi Phone MI 4

Facebook Discusses Investment Possibility in Chinese Smartphone Maker Xiaomi

Mark Zuckerberg and Xiaomi Inc. CEO Lei Jun discussed a potential investment by Facebook in China's top smartphone maker, ahead of its $1.1 billion fundraising last month

Jan 13, 2015

India Pins Hopes on Budget 2015; Will it be the Harbinger of Growth?

2015 Budget and reforms to revitalise Indian economy. Sensex to reflect GDP expansion more closely.

Jan 13, 2015

Government Will Work Towards Non-Adversarial Tax Regime: Arun Jaitley

Union Minister Arun Jaitley said India must have credibility in terms of governance.

Jan 12, 2015

BSE closes points 126.89 up on Jan 12

New Delhi, Jan 12 (ANI): Trading at the Bombay Stock Exchange today closed 126.89 points up to stand at 27,585.27. At the National Stock Exchange the Nifty closed 38.50 points up to stand at 8,323.00. ALOK INDUSTRIES LTD and BEML LTD were among the top gainers of Group A with an increase of 12.94% and 9.27% along with TATA ELXSI LTD and BHARAT FORG with an increase of 8.77% and 7.87% respectively, while the top losers of Group VIDEOCON INDUSTRIES LTD and BERGE PAINT with a decrease of 6.07% and 5.38% along with PMCFIN and RASOYPR with a decrease of 4.98% and 4.67% at the close of the markets. The Auto sector is up 11.63 points at 18,846.90 while the banking sector is up 192.53 points at 21,538.77 and the reality sector is down 0.45 points at 1,531.50. The Indian currency is up 0.16% at Rs 62.23 per dollar.

Jan 12, 2015

Vistara, Lean Season To Trigger Airfare War

Air Vistara's entry and the lean season setting in, has driven down airfares, with Air India cutting its fares by almost 50%.

Jan 12, 2015

China Pork Scandal: Police Arrest Over 100 for Selling Pork from Diseased Pigs

The Chinese government has arrested 110 people suspected of selling contaminated pork, amounting to 1,000 tonnes of meat and 48 tonnes of cooking oil.

Jan 12, 2015