Economy News

Mukesh Ambani Tops Hurun's List of Richest Indian; Beats LN Mittal [PHOTOS]

Energy tycoon and Reliance Industries chairman Mukesh Ambani is India's richest man with personal wealth of $19.3 billion, while steel baroness Savitri Jindal topped the richest woman list with a personal fortune of $5.6 billion, China-based research firm Hurun said.

Oct 11, 2012

Bharat Bandh Costs India About ₹125 bln, Says CII

The "Bharat Bandh" called by the National Democratic Alliance (NDA) and other opposition parties against some policy decisions by the central government has not only crippled the normal lives of citizens but also cost the country a whopping ₹125 billion.

Sep 20, 2012

Ram Charan Teja and Wife Upasana Kamineni to Move to Mumbai Soon

Southern superstar Chiranjeevi's son Ram Charan Teja who is making his Bollywood debut as Inspector Vijay in "Zanjeer" remake is serious about his career in the Hindi film industry.

Aug 21, 2012

Outlook Pulls Time Magazine Stunt, Brands Obama 'The Underachiever': India Goes Tit-for-Tat?

Popular weekly Outlook India launched an all-out attack on US, with its latest edition brandishing President Barack Obama on its cover calling him "The Underachiever". The magazine's point-blank move was in direct response to Time magazine's recent wisecrack at Indian Prime Minister Manmohan Singh, who was labeled with the same tag by the US-based publication a week earlier.

Jul 20, 2012

Petrol Prices Now Cheaper By ₹2.46 Per Litre; Further Reduction on Cards

State-owned oil companies announced their decision to slash petrol prices by at least ₹2.46 per litre. The cut in petrol rates took effect on Thursday midnight.

Jun 29, 2012

PM Meets Finance Ministry Officials, Tells To Revive Economy

Prime Minister Manmohan Singh on Wednesday met Finance Ministry officials for the first time after taking over the Finance portfolio and asked the officials to revive the country's struggling economy.

Jun 28, 2012

Grameen Koota Raises ₹250 Million Through NCDs

Grameen Financial Services Private Limited (GFSPL), a microfinance institution (MFI) headquartered in Bangalore, has raised debt funds to the tune of ₹250,000,000 from Social Investments AG via secured, redeemable, non-convertible debentures (NCDs).

Jun 26, 2012

Air India Pilots Launch Hunger Strike; Demand to Reinstate Sacked Pilots

Eleven Air India pilots have launched an indefinite hunger strike, demanding to reinstate the 101 pilots sacked by the management.

Jun 24, 2012

Fitch Rates India's Outlook to Negative; Finance Minister Says Positive Economic Trends Ignored

Fitch Ratings on Monday changed its outlook on India's credit to negative from stable.

Jun 19, 2012

Sensex Down By 200 Points Amid RBI Keeping Repo Rate Unchanged

Monday morning trade session saw the BSE benchmark dropping by nearly 200 points after the Reserve Bank of India conceded on keeping the same interest rates as announced in the in the mid-term monetary policy review.

Jun 18, 2012

Petrol Price Rollback By ₹2 On the Cards

State-owned oil companies may decide a cut in petrol prices by INR 2 following a review on fuel prices scheduled on Friday.

Jun 15, 2012

Diesel Cars May Turn Costlier, Special Tax of ₹255,000 On Cards

Oil Minister S Jaipal Reddy recommended a hike in excise duty to be imposed on diesel-based vehicles. The proposed levies, it is said, will be as steep as INR 255,000 for sedans and sports or multi utility vehicles, while smaller vehicles will be slapped with an excise tax of INR 170,000.

Jun 13, 2012

Indian Economy To Grow at 6.9% For 2012: World Bank

The Indian economy is set to grow 6.9 percent in the current financial year as projected by the World Bank on Wednesday.

Jun 13, 2012

India, Canada Sign MoU on Road Transportation and Infrastructure Development

India and Canada have signed a Memorandum of Understanding (MoU) on Infrastructure Development, Operation & Maintenance of Roads during the visit of Dr. C.P. Joshi, the Union Minister for Road Transport and Highways, to Canada.

Jun 12, 2012

India Invites Brazil to Invest in Infrastructure Sector and Joint Production of Essential Drugs

India's Minister of Commerce, Anand Sharma, invited Brazilian investment in the recently launched National Infrastructure and Manufacturing Special Economic Zone (SEZ) as well as in the food processing industries at a meeting with the Brazilian Minister of Development, Industry and Foreign Trade, Fernando Pimentel, in Brasilia on June 11.