Business news

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

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

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