Wednesday, August 29, 2012

India Inc may soon get to invest in Pakistan

India Inc may soon get to invest in Pakistan


India Inc may soon get to invest in Pakistan

Posted: 29 Aug 2012 04:58 PM PDT

India is set to allow companies to invest in Pakistan and push for a dialogue for better air connectivity as part of a fresh set of measures to boost economic relations between the neighbours.


Govt to unlock value of PSU land, revive sick units

Posted: 29 Aug 2012 04:55 PM PDT

In what may come as a boon for realtors, the government is set to unlock thousands of acres of prime real estate across the country as part of a new strategy to revive sick public sector companies.


'India no exception to global economic woes'

Posted: 29 Aug 2012 04:54 PM PDT

Raghuram Rajan on Wednesday assumed charge as the new chief economic adviser in the finance ministry saying the world economy faced serious challenges and India was no exception.


Smaller banks gain from rate decontrol

Posted: 29 Aug 2012 04:51 PM PDT

Large banks may have refused to revise their interest rates on savings deposits, but there are clear signs that small banks that have raised interest rates have gained significantly.


Orchid sells drugs units to Hospira

Posted: 29 Aug 2012 04:50 PM PDT

"This business transfer agreement with Hospira will help us fast track our future growth while maintaining a healthy debt profile in our balance sheet.


Indian drug firms break into world's fastest growing list

Posted: 29 Aug 2012 04:46 PM PDT

In yet another instance of India Inc occupying a larger seat in the global league tables, three out of the top 10 fastest-growing generic companies globally are now from India.


BT selling $100m stake in Tech Mahindra

Posted: 29 Aug 2012 06:50 AM PDT

BT Group is selling some of its shares in Indian IT services provider Tech Mahindra in a deal that is expected to raise about $100 million.


Gold to hit high of Rs 32k by Diwali

Posted: 29 Aug 2012 05:46 AM PDT

Gold is likely to hit a record high of over Rs 32,000 per 10 grams during Diwali due to rising tensions in West Asia, Bombay Bullion Association (BBA) said.


Rupee closes at 55.62 against dollar

Posted: 29 Aug 2012 05:35 AM PDT

The rupee erased early losses and closed five paise higher at 55.62 on fag end dollar selling by exporters and continued capital inflows.


Sensex closes down 141 points

Posted: 29 Aug 2012 04:03 AM PDT

The Sensex, which had lost 219 points in the last three trading sessions, fell further by 140.90 points, or 0.80 per cent to 17,490.81 led by stocks of realty, metal and auto sectors.


Sri Lankan Airlines introduces ipads in cockpits

Posted: 29 Aug 2012 02:52 AM PDT

The airline has become the first in Asia to get regulatory authorisation to use ipads in cockpit after Civil Aviation Authority of Sri Lanka (CAASL) permitted the airline to switch to electronic flight bag (EFB).


Rupee gains 3 paise against dollar

Posted: 28 Aug 2012 10:49 PM PDT

The rupee rose marginally by 3 paise to 55.64 against the dollar in early trade on the Interbank Foreign Exchange today as the American currency weakened against euro overseas.


HSBC upgrades India's Wipro to 'overweight'

Posted: 28 Aug 2012 10:09 PM PDT

HSBC upgraded Wipro to 'overweight' from 'neutral', saying the Indian software services exporter was "competing effectively" for large deals, and adding the company is well positioned to improve sales after its "extensive restructuring.


Sensex down 56 points in early trade

Posted: 28 Aug 2012 09:49 PM PDT

The BSE benchmark Sensex shed over 56 points in early trade today, declining for the fourth day in a row, on sustained selling by funds and retailers due to concerns over delay in economic reforms.


Tax-hit Megamart to shed discount tag

Posted: 28 Aug 2012 02:56 PM PDT

This comes even as the country's other deep discount chains, including The Loot, Koutons, Cantabil and Priknit, struggled with a 12% tax announced in FY11 Union budget amid climbing inflation and rising costs.

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