Thursday, May 10, 2012

US economy getting stronger: Obama

US economy getting stronger: Obama


US economy getting stronger: Obama

Posted: 10 May 2012 08:22 PM PDT

Claiming that the US economy is getting stronger, President Barack Obama, has said it is time that businesses move back their manufacturing from China, as he hit's the campaign trail this week.


Torrent sacks executive for harassment

Posted: 10 May 2012 07:55 PM PDT

Torrent Pharmaceuticals has sacked a top executive after he was found guilty of sexually harassing a woman colleague. "An internal inquiry was carried out, which concluded that the allegations were true.


Car sales growth slowest in last 10 months

Posted: 10 May 2012 12:38 PM PDT

Car sales opened the new financial year with the slowest growth in the last 10 months as higher interest rates, steep petrol prices and overall economic slowdown deferred new purchases.


RIL buys Rs 1.2k cr bank stocks in FY12

Posted: 10 May 2012 11:59 AM PDT

Reliance Industries (RIL) has acquired shares worth over Rs 1,200 crore of leading public and private banks in the country in the past one year.

RIL buys Rs 1.2k cr bank stocks in FY12

Posted: 10 May 2012 11:59 AM PDT

Reliance Industries (RIL) has acquired shares worth over Rs 1,200 crore of leading public and private banks in the country in the past one year.


SKS Micro cuts jobs, shuts branches in Andhra

Posted: 10 May 2012 11:51 AM PDT

Even as it packs bags to shift base to Mumbai, beleaguered microfinance player SKS Microfinance is wielding the hatchet. India's only listed microfinance institution (MFI) on Thursday axed 1,200 jobs and shut 78 branches in Andhra Pradesh amid howls of employee protests.

SKS Micro cuts jobs, shuts branches in Andhra

Posted: 10 May 2012 11:51 AM PDT

Even as it packs bags to shift base to Mumbai, beleaguered microfinance player SKS Microfinance is wielding the hatchet. India's only listed microfinance institution (MFI) on Thursday axed 1,200 jobs and shut 78 branches in Andhra Pradesh amid howls of employee protests.


Now, Hutchison on tax dept radar

Posted: 10 May 2012 11:48 AM PDT

After Vodafone, the tax department is focusing its attention on Hong Kong-based Hutchison Whampoa, which sold its 67% stake in the Indian telecom venture to the British giant for $11.5 billion.


Rupee closes up 42 paise

Posted: 10 May 2012 06:34 AM PDT

The rupee had a weak opening after closing at all-time low of 53.84 yesterday. It rose to 52.90 level intra-day as there was increased selling of dollar by banks and exporters following RBI measures.


Sensex extends losses for third day

Posted: 10 May 2012 05:06 AM PDT

During the day, the Sensex logged a high of 16,671.81 as RBI announced a string of measures to limit the weakness of rupee, the worst-performing Asian currency.


Cadila Q4 net dips 4.52% to Rs 171 crore

Posted: 10 May 2012 04:10 AM PDT

Drug firm Cadila Healthcare on Thursday reported a 4.52% decline in its consolidated net profit at Rs 170.88 crore for the quarter ended March 31, mainly on account of foreign exchange losses.


Sensex declines 60 points; auto stocks drag markets

Posted: 10 May 2012 04:04 AM PDT

Erasing initial gains, the BSE benchmark sensex today fell for the third straight day as it lost nearly 60 points with auto and metal stocks leading the fall amid a weakening global trend.


India to grow at 7.5% in 2012-13: UN report

Posted: 10 May 2012 03:58 AM PDT

India is projected to see a faster growth of 7.5% this fiscal on the back of higher savings and investment rates, even as most of the Asia-Pacific economies are likely to expand at a slower pace, says a UN report.


RIL says awaiting nod for financial business

Posted: 10 May 2012 03:04 AM PDT

Awaiting regulatory approvals for its foray into financial services sector, Mukesh Ambani-led Reliance Industries has acquired shares in giants like HDFC, ICICI Bank and Axis Bank as part of long-term 'investments'.


April car sales up 3.4%

Posted: 10 May 2012 01:54 AM PDT

Car sales in India rose an annual 3.4 percent in April, according to data from an industry body, a sixth consecutive monthly increase but lower than in recent months after the country hiked excise duty on the vehicles.


Exports grow 3.2% in April

Posted: 09 May 2012 11:33 PM PDT

The government on Thursday said exports grew 3.2% to $ 24.5 billion in April, led by a fall in export of textiles and gems and jewellery whose demand has been hit in Europe and the US.


Exports grows 3.2% in April

Posted: 09 May 2012 11:33 PM PDT

The government on Thursday said exports grew 3.2% to $ 24.5 billion in April, led by a fall in export of textiles and gems and jewellery whose demand has been hit in Europe and the US.


Rupee gains 60 paise against dollar

Posted: 09 May 2012 09:39 PM PDT

The rupee today recovered by a hefty 60 paise to 53.24 against the US dollar in early trade on the Interbank Foreign Exchange market after the Reserve Bank tightened norms for utilisation of the foreign currency fixed deposit funds to check outflow of forex.


Sensex recovers 151 points

Posted: 09 May 2012 09:18 PM PDT

The BSE benchmark Sensex recovered by over 151 points in early trade today, after witnessing two sessions of losses, on emergence of buying at prevailing attractive levels by funds as well as retailers.


Any hope for rupee? Poll predicts it to sink to 57

Posted: 09 May 2012 07:46 PM PDT

Rupee fell the most since December to a new closing low, while currency strategists forecast more pain as RBI intervention remains limited.

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