Business News
Browse all articles and features filed under the News desk.
Sensex crawls up in afternoon trade
A benchmark index for Indian equities crept up in afternoon trade Thursday to rule at 76 points higher, having been range-bound in the morning session. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,194.78 points, was at 18,255.97 poi
ISRO offers road map for private firms in space business
The Indian Space Research Organisation (ISRO) Wednesday urged the private sector to come up with innovative technologies to join hands with it to tap the growing space business. The need of the hour was to cater to the increasing demands of the central and state governments for n
Renault to launch five cars in India
French auto major Renault Thursday said it will launch five cars in India between 2011 and 2013. “We will be launching five cars in India, starting from mid-2011 to mid-2013. We will also launch a small car in the Indian market in 2012,” said Marc Nassif, country general manager,
Ratan Tata regrets the company could not do Singur project
Tata Group Chairman Ratan Tata said Monday he regrets Tata Motors could not do the Nano car project which it wanted to do in West Bengal, but the state would always be there as a part of the group’s corporate identity. “We regret we have not been able to do what we wanted to do o
Four Indians among ‘America’s Coolest Young Entrepreneurs’
Four Indian Americans figure in Inc. magazine’s list of “30 Under 30: America’s Coolest Young Entrepreneurs” who are “building unique brands, making money along the way and changing the way we do business”. Some, like Naveen Sevadurai, 28, who co-founded Foursquare, run one of th
SEBI bans 14 insurance companies from selling ULIPs
Market regulator Security and Exchange Board of India (SEBI) has banned 14 insurance companies from selling Unit-Linked Insurance Products (ULIPs). The companies are Aegon Religare, Aviva, Bajaj Allianz, Bharti AXA, Birla Sun, HDFC Standard, ICICI Prudential, ING Vyasa, Kotak Mah
20 percent rise in air passenger traffic since 2008
There has been a 20 percent surge in air travel in India since the global economic downturn began in late 2008, Kingfisher Airlines Chairman Vijay Mallya said Saturday. “The civil aviation industry which was impacted to a great extent by global meltdown in 2008-09 has seen a revi
3G spectrum auction kicks off, first round completed
The first-ever auction of the radio frequency spectrum for third generation (3G) telephony that would facilitate high-speed mobile services in India began Friday. As many as nine telecom companies — Bharti Airtel, Reliance Communications, Vodafone Essar, Idea Cellular, Tata Teles
Apple announces new iPhone software
Apple announced a new operating system for its market-leading iPhone Thursday, as it seeks to thwart challenges to its smartphone supremacy from rivals like Google, Microsoft, Nokia and the Blackberry. The new software was announced just days after Apple made headlines with the l
India is a vital market for US companies
Eyeing India’s $150 billion nuclear pie, a strong US business delegation embarks on a trade mission to the country next week with a promise to keep pushing for easing rules for export of high tech items to India. “By looking to new markets abroad, American businesses remain at th
Come and invest in our roads
Highlighting India’s plans to achieve a “quantum jump” in building roads and highways that would open a vast rural market, Minister of Road Transport and Highways Kamal Nath has invited foreign companies to participate in this mega-initiative for the country’s growth. “India’s gr
PM forms three working groups to tackle price rise
Prime Minister Manmohan Singh Thursday formed three working groups, including one headed by Gujarat Chief Minister Narendra Modi, to recommend measures on tackling shooting food prices. The working groups were formed at the prime minister’s core group meeting on inflation that wa
Left organises nationwide protests against rising prices
Tens of thousands of Left activists staged noisy but peaceful protests across India Thursday, with thousands courting arrest, to denounce rising food prices and attacks on their cadres in West Bengal, party sources said. The Communist Party of India-Marxist (CPI-M) said an estima
Bharti-Walmart ‘push’ changes face of Punjab village
Haider Nagar in Sangrur district was an economically backward, little known village until the other day. Today it takes pride in higher crop yield, better sanitation and energy-efficient solutions. A community programme, launched by Bharti-Walmart India, the wholesale retail vent
India’s Sensex falls after previous day’s gains
After scaling the 18,000-point mark to reach its highest level in 25 months, a key Indian equity market index opened lower Thursday, as investors resorted to profit taking. The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) that closed Wednesday at 17,970.02 points o
Spain sets $789 mn budget for electric vehicles
Spain has presented a 590-million euro ($789 million) budget to promote electric vehicles in the country and is set to register more than 70,000 all-electric and hybrid cars by 2012. The aim is a total registration of 250,000 units by 2014, Prime Minister Jose Luis Rodriguez Zapa
Swiss solar plane makes first flight
A solar-powered airplane took off on its first major test flight Wednesday morning, from an airfield in western Switzerland. The flight of the plane, named Solar Impulse, comes ahead of plans to use a similar solar-powered plane to fly around the world in 2012. “We want to demons
Airtel DTH launches digital TV recorder
Airtel digital TV, the direct-to-home service provider from India’s top telecom company Bharti Airtel, Wednesday launched a recorder which allows customers to record TV shows from anywhere in the world using mobile phones. The digital TV recorder, which is an enhanced set-top box
US stocks fall on lower consumer debt
Major US stock indices declined Wednesday after government data showed consumers were reluctant to take on more debt, and Federal Reserve Chairman Ben Bernanke hedged his bets on economic recovery. “The economy seems to have stabilized and is beginning to grow again,” Bernanke sa
Wills Lifestyle logs on to Facebook for brand building
Facebook, Flicker and Twitter. Hoping to attract the young and tech savvy, Wills Lifestyle, the brand behind the trendy clothes and the fashion week as well, is using social networking sites to boost its sales. It has more than 16,000 fans on Facebook as well as a presence on oth