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Thu,23 May 2013

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Making peace with Vodafone

Government is said to be open to a reconciliation with British telecom giant Vodafone on its six-year old tax dispute. Explainer by Gaurav Choudhury.

Sensex closes at 1-week low, down 112 pts

Falling for the second day, the Sensex today slid by over 112 points to close at one-week low of 20,111.61, mainly due to profit booking in interest rate sensitive sectors including realty, auto and banking.

Rupee up 16 paise vs dollar in early trade

The rupee on Tuesday strengthened by 16 paise to trade at 54.95 against the dollar at the Interbank Foreign Exchange on selling of the US currency by exporters.

Telcos formed cartel in 2G spectrum sale: CAG

A unit of the CAG has slammed the recent spectrum auctions, saying private companies acted as a cartel while the government was lax in implementing and supervising the process in the wake of the 2G scam. Manoj Gairola reports.

Why air fares are up

Here’s something that won’t sound like music to your ears. The cost of air tickets, already ruling at high levels, will not come down in a hurry. Tushar Srivastava reports.

Sensex falls from 30-mth high, down 62 pts on profit-selling

Falling for first time in five sessions, Sensex today retreated from 30-month high levels by losing 62 points to close at 20,223.98 on profit booking in blue-chips like Bharti Airtel, ONGC, ICICI Bank and Cipla.

StanChart to acquire Morgan Stanley's Indian wealth management unit

Standard Chartered India today said it has agreed to acquire the private wealth management business of Morgan Stanley India for an undisclosed amount, subject to regulatory approvals.

Infosys to challenge latest tax demand of Rs. 5.77 bn

Infosys Ltd, India's No 2 software services exporter, said today it would challenge a Rs. 5.77 billion ($105.3 million) income tax demand raised by the sgoverment earlier this month.

Gold futures may fall past 1-month low

Gold futures in India are likely to fall past their lowest level in a month, weighed by expectations of a strong dollar, dimming the yellow metal's appeal as an alternative investment.

Rupee down 10 paise against dollar, hits 2-1/2 month low

The rupee weakened by 10 paise to 54.98 against the dollar on the Interbank Foreign Exchange market in early trade today.

Rs 20,000-crore deals in push for rural broadband

The government’s Rs. 20,000-crore project to provide high-speed broadband in 200,000 villages across India has finally taken off. Manoy Gairola reports.

FinMin’s new amnesty scheme for service tax defaulters

Aimed at widening its revenue base from indirect tax collections, the finance ministry has implemented an amnesty scheme for service tax defaulters to pay their dues without any penalty.

Income Tax office slaps Rs. 577-cr tax demand notice on Infosys

Income Tax department has slapped a fresh Rs. 577-crore tax demand notice on Infosys for 2009-10 assessment year, adding to the tax woes of India's second largest IT firm.

Stock markets may see consolidation; SBI results soon

Stock markets may witness some consolidation this week after key indices closed at fresh multi-year highs and corporate earnings from SBI, Tata Steel and Larsen & Toubro will decide the course, experts said.

Panel probing Walmart’s lobbying charge submits report

A government-appointed committee that was looking into allegations of US retail major Walmart’s lobbying activities to enter the Indian market has submitted its report to corporate affairs minister Sachin Pilot on Saturday.

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