Business News
Browse all articles and features filed under the News desk.
Toyota launches made for India sedan Etios
Toyota Kirloskar Motor launched its Etios sedan here Wednesday, marking the company’s entry into the highly competitive ‘B segment’ or mid-segment car market in India. The Etios, priced between Rs.496,000 and Rs.686,500 (ex-showroom Delhi), has been developed specifically for the
Sensex moves up in morning trade
A benchmark index of Indian equities was ruling 130 points higher in Monday morning trade compared to its previous close. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,230.34 points, was ruling at 19,266.69 points, up 130.08 points o
Get ready to pay for mobile banking service from April 2011
Get ready to pay a fee for inter-bank transactions conducted through mobile phones from April 2011, as the National Payment Corporation of India (NPCI) intends to charge lenders Rs.0.25 per transaction from the next financial year. “NPCI will be providing services to member banks
Jaguar launches XF sports-sedan’s diesel variant
Luxury automobile maker Jaguar Friday launched its XF sport sedan’s diesel variant priced at Rs.48.37 lakh (ex-showroom Delhi). “The launch comes after we received a huge response to our XF’s petrol version. We have received a pre-launch booking of 60 cars,” said Rohit Suri, head
Jindal steel plant in Orissa gets green notice
The environment ministry Friday issued a show cause notice for revoking environment clearance to Jindal steel and power plant in Angul in Orissa for violating green laws. The ministry issued the notice under Section 5 of the Environment (Protection) Act, 1986, for revocation of e
You can change your mobile operator but retain number
Communications Minister Kapil Sibal launched the eagerly-awaited mobile number portability scheme in Haryana Thursday to allow cellphone users to change their operators while retaining existing numbers. “On Jan 20 next year, mobile number portability will be available nationwide,
Government reviews export sops, industrial output
The government has set up a high-level panel to review issues related to export incentives and slowdown in industrial output growth, Commerce and Industry Minister Anand Sharma said Thursday. “I have set up a seven-member working group. It will do a comprehensive review of all th
Sensex up 115 points in early trade
A benchmark index of Indian equities Thursday was trading about 115 points higher in early trade. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,560.25 points, was ruling at 19,575.41 points, up 115.56 points or 0.59 percent from its
Coal India’s net profit rises 29 percent
World’s largest coal miner, Coal India’s (CIL) net profit rose by 29.06 percent to Rs.4,020 crore in the first half of the current fiscal (2010-11) over the corresponding period last year. Releasing the April-September 2010 results of the company, CIL chairman Partha Bhattacharyy
Regulations for micro finance industry soon
The government will soon introduce a bill in parliament aimed at regulating micro finance institutions, Minister of State for Finance Namo Narain Meena said Tuesday. “The Department of Financial Services proposes to introduce the Micro Finance (Development and Regulation) Bill, 2
Sensex falls sharply in early trade
A benchmark index of Indian equities Tuesday fell sharply soon after opening bell. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,841.42 points, was ruling at 19,762.4 points, down 195.43 points or 0.98 percent from its previous close
Public power transmission companies face losses: Shinde
Power Minister Sushil Kumar Shinde Monday said the aggregate losses of state-run transmission and distribution (T&D) companies for 2010-11 is expected to be Rs.68,643 crore. “As per the thirteenth finance commission report, the aggregate loss of state T&D utilities at 2008 tariff
Sensex rises in early trade
A benchmark index of Indian equities Monday rose 197 points soon after opening bell. The 30-share sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 19,713.84 points, was ruling at 19,783.16 points, up 197.72 points or 1.01 percent from its previous clos
BharatBerry: Mobile app for Nokia handsets
A mobile application for Nokia handsets, combining e-mail and content back-up functions, was launched Thursday by a city-based technology company. “This software is called BharatBerry. It offers advance push mail with over the air (OTA) backup of your contacts, tasks, calendar an
Air India’s 2010 net loss stands at Rs.5,551 crore
National carrier Air India (AI) Thursday reported a decrease in its net loss for the fiscal 2009-2010, which stood at Rs.5,551 crore as against a net loss of Rs.7,189 crore in the fiscal 2008-2009. According to the airline, the results were muted due to increase in depreciation c
Latin America attractive market for Indian export: Minister
Indian exporters should focus on the emerging economies, especially Latin American countries, to sustain growth as demand in rich countries slackens, Minister of State for Commerce and Industry Jyotiraditya Scindia has said. “We need to augment our exports to Latin American count
Axis Bank acquires Enam Financial unit in all-stock deal
Axis Bank, the country’s fourth largest lender, Wednesday said it is to acquire investment banking and securities unit of Enam Financial, a closely held firm, in an all-stock transaction valued at Rs.2,067 crore. “We have done exchange of shares and are not walking away with any
Will outlast new mobile operators: Telenor
Telenor, the parent company of Indian mobile operator Uninor, is confident of outlasting other new entrants as revenues decline and consolidation in the industry looms large. “Consolidation will happen in future…We will certainly survive,” Jon Fredrik Baksaas, president and chief
Falling industrial output won’t affect growth target: Ahluwalia
A sharp fall in India’s industrial output in the last two months is an aberration and the government is confident of achieving 8.5 percent economic growth during the current fiscal, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Sunday. “We are not going to alter
Private sector to invest $500 billion in infra: Mukherjee
The private sector is likely to contribute nearly half of the estimated $1 trillion investment in infrastructure sector during the 12th five-year plan period (fiscal 2012-17), Finance Minister Pranab Mukherjee said Monday. “Nearly 30 percent of the total spending on infrastructur