Tuesday, February 14, 2012

Rising rupee a dampener for IT sector

Rising rupee a dampener for IT sector


Rising rupee a dampener for IT sector

Posted: 14 Feb 2012 04:30 PM PST

The Indian currency's depreciation last year helped bolster the rupee earnings of IT companies. With the currency now strengthening , along with moderation of demand for IT services due to the global slowdown, the revenues of IT companies in the near term could be negatively impacted.


Apple loses iPad copyright battle in China

Posted: 14 Feb 2012 04:11 PM PST

A move is afoot to block the worldwide distribution of iPads from their manufacturing base in China after its maker, Apple Inc, lost a copyright battle to a Chinese company. The winning company, Proview, said it plans to ask Chinese customs to disallow shipments of iPad.


Rupee down 17 paise against dollar

Posted: 14 Feb 2012 05:34 AM PST

The rupee today lost 17 paise to close at 49.36/37 against the US dollar due to fresh demand for the American currency from importers, despite a firm trend in stock markets.


Indian airlines should raise fares by 15%: Boeing

Posted: 14 Feb 2012 05:30 AM PST

Cash-strapped airlines in India should raise fares by at least 15 per cent by achieve the break-even point, a senior official of Boeing said here today.


Sensex at 6-month closing high

Posted: 14 Feb 2012 04:11 AM PST

The BSE Sensex rose 0.4 percent on Tuesday to its highest close in more than six months, helped by a late bout of short-covering, although investors remained cautious after a recent rally in the market.


Sensex gains 76 pts as inflation eases

Posted: 14 Feb 2012 03:09 AM PST

The BSE benchmark index Sensex today closed higher by 76 points on funds buying in bluechips as eased inflation bolstered hopes of policy rate cuts by RBI.


Tata Motors Q3 net up 40.5%

Posted: 14 Feb 2012 02:25 AM PST

Tata Motors on Tuesday reported 40.51 per cent jump in consolidated net profit to Rs 3,406 crore for the quarter ended December 31, 2011.

Tata Motors Q3 net profit soars 41%

Posted: 14 Feb 2012 02:25 AM PST

Tata Motors on Tuesday reported 40.51 per cent jump in consolidated net profit to Rs 3,406 crore for the quarter ended December 31, 2011.


RBI hikes bank rate after 9 years to 9.5%

Posted: 14 Feb 2012 01:15 AM PST

After a gap of nearly nine years, the Reserve Bank has increased the bank rate by 3.50 percentage points to 9.5 per cent with immediate effect.


Inflation eases to 6.55% in January

Posted: 13 Feb 2012 10:49 PM PST

India's inflation rate, based on wholesale price index, fell to 6.55% in January 2012, compared to 7.47% in December 2011, strengthening the argument for the easing of monetary policy amid slowing economy.


Inflation eases to 6.55% in January

Posted: 13 Feb 2012 10:34 PM PST

Indian wholesale price index (WPI) rose a slower-than-expected 6.55 percent in January from a year earlier, government data showed on Tuesday.


Rupee drops by 23 paise vs dollar

Posted: 13 Feb 2012 10:32 PM PST

The rupee dropped by 23 paise to 49.42 against the US currency in late morning trade on fresh dollar demand from importers.


Gold futures drop by Rs 114 on weak Asian cues

Posted: 13 Feb 2012 10:09 PM PST

Gold futures prices declined by Rs 114 to Rs 28,005 per 10 grams on Tuesday largely due to a weakening trend overseas as strengthening dollar curbed the demand for the precious metal.


Petrol prices may rise by Rs 3 soon

Posted: 13 Feb 2012 08:21 PM PST

According to industry executives, petrol prices are expected to rise by about Rs 3 per litre early next month after the crucial UP assembly elections.

Jet, Kingfisher Airlines staff not paid for two months

Posted: 13 Feb 2012 08:01 PM PST

Nearly 18,000 employees of Jet Airways and Kingfisher have not received salaries for two months, a reflection of the deepening crisis in the aviation industry.

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