Business
India's economic growth will decline in the range of 7-7.5 per cent in the current financial year ending March 31 as compared to 8.4 per cent expansion in the previous year, Prime Minister Manmohan Singh said on Friday. .... more »
India and the United States have signed a memorandum of understanding establishing a framework for conducting a dialogue and to cooperate on future labour and employment issues. .... more »
Riding high on the exponential growth of urban centres and the resultant demand for infrastructure, electronics and electrical engineering major Siemens is eyeing double-digit growth in revenues from infrastructure and city-focused business.
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Maruti Suzuki, India's biggest carmaker, reported a bigger-than-expected fall in quarterly profit as the company struggled with a sales slowdown and high import costs caused by a weaker rupee. .... more »
German auto major Audi is eyeing to enter the high-end armoured car market in India with its A8 L Security model that could cost around Rs 5 crore, and the first vehicle is likely to be delivered this year. .... more »
The anti-outsourcing measures US President Barack Obama announced last week are unacceptable and will hurt both American and Indian economies, Finance Minister Pranab Mukherjee has said.
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Global coffee chain Starbucks will soon be making its way to India with Tata Global beverages on Monday formally announcing a joint venture pact with the US-based company. .... more »
To strengthen its position in sports bike market in India, Bajaj Auto, in collaboration with Austrian manufacturer KTM, Tuesday launched its 200cc power bike Duke 200, priced at Rs.1.17 lakh (ex-showroom Delhi). .... more »
The International Labour Organization has released a pessimistic report for the global jobs market in 2012 saying urgent attention is needed to create 600 million new jobs in the next 10 years.
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The world economy will lose momentum in 2012 but it will keep moving in the right direction, according to Reuters polls of around 600 economists who said crisis-hit Europe would drag on global growth.
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The Reserve Bank of India (RBI) is not expected to cut interest rates at its review on Tuesday as it remains worried about inflation, but it may cut the cash reserve ratio (CRR) for banks as a way to relieve tight liquidity, a move that would cheer markets as a sign of easing intent. .... more »
What was supposed to be a celebration of the most prosperous quarter in Google's 13-year history instead turned into a major letdown. .... more »
Private carrier Jet Airways on Friday said it registered a net loss of Rs 101.22 crore for the quarter ended December 31, 2011, in sharp contrast to a net profit of Rs 118.23 crore in the same quarter last fiscal, due to higher ATF costs and rupee depreciation. .... more »
The Income Tax Department has slapped a Rs1,067-crore demand notice on telecom giant Bharti Airtel for non-payment of TDS dues in the last four financial years in connection with its overseas operations, even as the company said it was fully compliant with all the provisions. .... more »
Government's decision to consider allowing foreign airlines pick equity in Indian carriers on Wednesday received a mixed response with its opponents saying foreign airlines would finally dominate the Indian sky. .... more »
South Korea's Samsung Group said on Tuesday it would invest a record 47.8 trillion won ($41.56 billion) this year and hire 26,000 new employees, also a record. .... more »
State Bank of India (SBI) on Tuesday said it will be difficult for lenders to provide more funds to debt- ridden Kingfisher Airlines unless the airline pays Rs100 crore to restore a bank guarantee invoked after the carrier failed to repay its loans or makes good the default.
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The world's largest cellphone maker Nokia on Tuesday asked for a quick price correction in 3G services in India to make it affordable to the lower-end consumers. .... more »
India's biggest outsourcing company, Tata Consultancy Services (TCS), reported on Tuesday that net profit rose 23 per cent in the third quarter, matching forecasts, thanks to a rise in orders.
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German automaker BMW is recalling nearly 89,000 Mini Coopers, the US traffic safety agency announced on Sunday, citing the threat of a smoldering circuit board that could set the cars on fire.
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Moody's on Monday confirmed France's triple-A credit rating but said it was still reviewing whether it would maintain its 'stable' outlook for the debt-laden country. .... more »
State Bank of India, India's largest lender, has received Finance Ministry approval for a capital infusion of Rs 60-80 billion, CNBC-TV18 reported on Monday, citing the bank's chairman. .... more »
Infosys on Thursday lost its status of the country's most influential stock to Mukesh Ambani-led Reliance Industries Ltd (RIL), as the shares of the IT giant fell sharply by over eight per cent.
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Ford Motor Co, the No. 2 U.S. automaker, recalled about 539,000 vehicles worldwide in two separate actions to repair flaws that may lead to fires in some SUVs and the loss of power in some Mercury and Ford minivans. .... more »
Japanese car maker Toyota will consider setting up a diesel engine plant in India after observing the government's policy decision on subsidy to the fossil fuel during the forthcoming Budget in March. .... more »
Tata Technologies, the research and engineering arm of the Tata Group, will showcase an electric concept car at the much-watched Detroit Auto Show next week.
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The eurozone crisis seemed to vanish from the headlines for a brief moment as 2011 ticked over into 2012, but it is about to return with a vengeance. .... more »
Satyam Computer Services on Monday said it has filed a suit in a Hyderabad court against its former Board of Directors, certain employees and the company's audit firm Price Waterhouse seeking damages for perpetrating fraud. .... more »
US auto giant General Motors said on Monday its sales in China hit a record high in 2011, despite a broader slowdown in the world's largest vehicle market.
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The troubles of cash-strapped Kingfisher Airlines worsened on Friday with another lender classifying its loan to the Vijay Mallya-promoted company as "sub-standard", a day after State Bank termed the airline as defaulter. .... more »
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