Saturday, November 26, 2011

Black Friday sales up 7% over 2010

Black Friday sales up 7% over 2010


Black Friday sales up 7% over 2010

Posted: 26 Nov 2011 03:05 PM PST

The holiday shopping season got off to a strong start on Black Friday, with retail sales up 7 percent over last year, according to one survey. Now stores just have to keep buyers coming back without the promise of super savings.


Plan to increase cold storages a damp squib

Posted: 26 Nov 2011 12:16 PM PST

The government's pitch that foreign investment in retail will be fillip to cold storage chains only underlines how ineffective efforts to reduce farm gate to retail price escalation have been – just 453 storage facilities were sanctioned between 2005-06 and 2010-11.


Ministers ignorant of 30% FDI sourcing norm

Posted: 26 Nov 2011 11:33 AM PST

Government's clarification on Friday that multi-brand foreign retailers are not required to source 30% of their procurements from Indian small and medium enterprises has surprised some members of the Union Cabinet who approved the decision.


Cyrus Mistry's statement in blue

Posted: 26 Nov 2011 11:30 AM PST

Cyrus Mistry's first day at work as successor of India's largest business house was an eye-opener, especially in the sartorial sense. Behind the blue shirt and half-smile that the 43-year-old wore to work on Thursday was a clear message.


Hungary agrees to work with EU, IMF

Posted: 26 Nov 2011 06:30 AM PST

Hungary's right-of-centre government agreed on Friday to mend ties with the EU, the IMF and the country's banks to stabilise the economy after credit agency Moody's cut Budapest's debt rating to "junk" and triggered a steep market selloff.


Tata's choice of chairman preserves Parsi tradition

Posted: 26 Nov 2011 06:14 AM PST

"Parsis really were the pioneers of the Indian industrial movement and have put a lot into the industrial development of the country," said Shernaaz Engineer.


Indians ready to pay Rs 75 for milk

Posted: 25 Nov 2011 11:05 PM PST

Inflation is all around us. Every visit to the market brings shock at newlyraised prices.


Forex reserves shrink most since Lehman's fall

Posted: 25 Nov 2011 11:01 PM PST

India's foreign exchange reserves have had the steepest three-week fall since the collapse of Lehman Brothers Holdings in 2008, as the Reserve Bank of India wages a half-hearted battle to arrest the currency's fall amid turbulence in the international financial markets.


PPF to earn higher returns from Dec 1

Posted: 25 Nov 2011 03:19 PM PST

The finance ministry has notified rules which will pave the way for small savings account holders to earn higher returns from December 1.

FDI in retail plan meets fierce opposition

Posted: 25 Nov 2011 03:02 PM PST

Government faces a fierce political backlash over its decision to allow FDI in multi-brand retail with traders' associations preparing for a nation-wide bandh next week.

Bharti, RIL end talks on insurance JVs deal

Posted: 25 Nov 2011 06:22 AM PST

Reliance Industries has mutually agreed to end negotiations with Bharti Enterprises to buy its stakes in two insurance joint ventures with France's AXA, the two companies said on Friday.

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