‘Business News’ Archives
Mukesh Ambani richest Indian for fifth year with wealth of $21bn: Forbes
Mukesh Ambani has retained his position as the world's richest Indian for the fifth year in a row, although his networth declined by 1 billion US Dollars but remained well above that of the second-ranked Lakshmi Mittal6 billion, making him the second richest, as per global business magazine Forbes' annual ranking of 100 wealthiest Indians, [...]
L&T, TCS among world’s 50 most innovative firms: Forbes
Five Indian companies -- Larsen &Toubro, Hindustan Unilever, Infosys, TCS and Sun Pharma -- have made to a list of the world's 50 most innovative firms, with the engineering giant L&T ranking among the top-ten2th9th, Tata Consultancy Services 29th and Sun Pharma 38th among the Indian companies In the overall list, Salesforcecom is [...]
India Sri Lanka to double trade to USD 10 billion by 2015
The Union Minister of Commerce, Industry & Textiles, Shri Anand Sharma set a target to double the trade turnover between India and Sri Lanka from the existing level to USD 10 billion by the year 20150 Billion by 2015998 an historic milestone and underlined the synergy between Indian and Sri Lankan companies as a competitive necessity [...]
RBI keeps rates unchanged; cuts SLR to 23%
The Reserve Bank of India 303% deficient so far this year and this could fan prices further High borrowing and raw material costs, however, have hit companies that have deferred capacity expansion plans, hurt job prospects and shaved off overall economic growth In the first three months of the current year, India's gross domestic product GDP [...]
India Post special discount on Gold Coins for Raksha Bandhan
For this Raksha Bandhan, India Post has announced a special discount of 6st August 2012 any customer who buys gold from identified Post Offices in Delhi will get a special 6 Post Offices of Delhi indentified for the sale of Gold Coinsgms, 5gms, 8gms, 10gms, 20gms & 50gms for sale across counters at select Post Offices These coins are having [...]
Panel to review taxation of development centres, IT
The Prime Minister has constituted a Committee to Review Taxation of Development Centres and the IT Sector0 sector-by-sector0100 locations in India0 but have yet to be operationalised with a wide application0 sector-by-sector August 2012 August 2012sub-activities each month beginning with the first set of suggestions by 30 September 2012 December [...]
Taxation of Portfolio Investments referred to GAAR Committee
The Prime Minister had constituted an Expert Committee on GAAR under the Chairmanship of Dr Partho Shome to engage in a widespread consultation process and finalise the GAAR Guidelines There is an additional issue relating to the taxation of portfolio investment, particularly in the context of the amendment made to the Income Tax Act relating to [...]
Samsung posts record sales and profit
Samsung Electronics saw record sales and operating profit over the second quarter of the year thanks to increased smartphone sales5 percent compared to the previous quarter This is the first time the electronics giant’s quarterly operating profit surpassed the six trillion won mark Samsung says its numbers were supported by the [...]
Moody’s downgrades 17 German banks
International credit rating agency Moody’s has lowered its outlook on 17 German banks from “stable” to “negative” The rating agency on Wednesday made the move shortly after it lowered its outlook on the European Financial Stability FacilityEFSF to “negative” The German banks affected by the downgrade are state-backed regional [...]
HSBC fined $27.5m for ‘money laundering’
HSBC, Europe's largest bank, has been fined $27,729 unusual transactions, failing to report 39 unusual transactions, and 21 administrative failuresbn, analysts have estimated, based on a record $619m fine that ING bank agreed in June to pay to settle similar claims Last week, a US Senate panel alleged that HSBC acted as a financier to clients [...]
EU chief in Greece for economy talks
European Commission President Jose Manuel Barroso is heading to Athens for talks on Thursday amid concern over whether Greece has done enough to have the next tranche of bailout loans4 He is expected to ask for more time to repay its loans [subscribe2]
Britain sinks deeper into recession
The Financial Times reports that Britain is on the verge of losing its triple A credit rating, as it posted a negative economic growth for three consecutive quarters through the second quarter of this year978 [subscribe2]
Income Tax Department Starts Two More Taxpayer Friendly Initiatives : ‘Register for Home Visit’ and ‘Online Tax Help’
In order to make the Income Tax Return filing experience even more convenient, the Income Tax Department has started two more taxpayer friendly initiatives ‘Register for Home Visit’ and ‘Online Tax Help’800-10-23738 may be called for further information regarding these initiatives000/- [subscribe2]
Moody’s changes outlooks on Germany, Netherlands, Luxembourg
Moody's Investors Service has changed the outlook for the ratings of Germany, Luxembourg, and the Netherlands to negative from stable, citing the uncertainty about the eurozone’s ongoing debt crisis “The level of uncertainty about the outlook for the area and the potential impact of plausible scenarios on member states, are no longer [...]
DGCA Monitors Airfares
DGCA Monitors Airfares, Advises Airlines to Ensure Airfares Remain within Fare Band5 to 20 days airfares of flights to and from Delhi have gone up on account of increased User Development Fee 4 days in advance of the journey are still available in the lowest fare buckets Random monitoring of airfares by DGCA has not revealed an alarming [...]
Anand Sharma Inaugurates Tex Trends India 2012
Anand Sharma, Union Textiles of Commerce, Industry and Textiles, today inaugurated the Tex Trends India 2012, featuring over 400 exhibitors and 2000 global buyers displaying diverse range of products from the entire length and breadth of the country2 truly showcases the strengths of the entire Indian textile industry2 will serve as a much needed [...]
PMO pushes for greater private investment in Inland Waterways
The PMO has been pushing for greater private investment in inland waterways, an area of considerable importance, 2 and 3 ,2,3, foodgrains and coal on NW-2 and a lot of cargo on NW-3 cannot be a river based industrial corridor [subscribe2]
‘Banaras Weaves’ in Dilli Haat to Showcase Cultural Heritage of Varanasi
Handloom sector occupies an important place in preserving the state’s heritage and culture2 small clusters 6th October to 31st October, 201262 stalls of various individuals and societies from Varanasi, will provide a platform to the weavers of the city to showcase their artistic products besides the retail sale4th August, 2012, and the draw for [...]
Moody’s downgrades Italy by 2 notches
International credit rating agency Moody’s has lowered Italy’s government bond rating by two notches from A3 to Baa2 and hinted about possibly cutting it even further The Baa2 rating is just two notches above junk status, and the same rating held by Kazakhstan and Bulgaria Moody’s said it made the decision as the potential has increased [...]
Transport minister C.P.Joshi meets CEOs of Automobile Manufacturing Companies
Dro RT&H Shri AK Upadhyaya and senior officers of the ministry were present [subscribe2]
