HindustanTimes.com - Top Business News Headlines

Identity crisis

Sat, 21 Nov 2009 23:18:19 +0500

Perhaps the way out is provided by the Bengalis. They have no identity problem, knowing fully well they are the proud heirs of a long line of illustrious Bengalis which include Tagore, Subhas Bose, Karl Marx, Ho Chi Minh, TS Eliot, Pele, Led Zeppelin and Deep Purple, writes Manas Chakravarty.

RIL makes daring bid for MNC petrochemical giant

Sat, 21 Nov 2009 22:28:14 +0500

India’s largest private-sector company, Reliance Industries Limited (RIL), has submitted a bid to acquire Netherlands-headquartered petrochemicals giant LyondellBasell, reports HT Correspondent.

CBI arrests Satyam s internal audit head Gupta

Sat, 21 Nov 2009 19:05:55 +0500

The CBI today arrested Satyam's internal audit head V S Prabhakar Gupta for allegedly fabricating account books, just days before it is due to file a second chargesheet in the multi-crore fraud at the IT firm.

Air India offers 20 pc discount to senior citizens

Sat, 21 Nov 2009 18:39:08 +0500

In a bid to woo customers to its first and executive classes on international routes, national air-carrier, Air India, has offered a 20 per cent discount to senior citizens.

Govt may offload rice wheat from reserves in 10 days

Sat, 21 Nov 2009 17:09:16 +0500

The government on Saturday said it will offload staple food grains from its reserves in the domestic market shortly to tame the surge in prices but is not "eager" to import rice to augment local supply.

Asian tour aimed at growth and jobs Obama

Sat, 21 Nov 2009 13:57:27 +0500

American President Barack Obama, who just concluded his four-nation maiden visit to Asia, said on Saturday that the tour was part of his pursuit of economic growth and jobs.

Bourses regains 17k level on ample liquidity

Sat, 21 Nov 2009 12:06:31 +0500

Indian bourses ended well past the 17k-psychologically important level over the week as positive liquidity situation and a strong build-up in the derivatives series indicated bullish trend in short term.

ICICI Bank raises 750 mn through bond issue

Sat, 21 Nov 2009 11:18:11 +0500

India's second largest lender, ICICI Bank on Saturday said it has raised $750-million through the issue of five-year bonds at its Bahrain branch.

India will be among top three economies by 2050

Sat, 21 Nov 2009 10:54:09 +0500

Discerning a dramatic shift in the world's economic balance of power, a US think tank has projected that by 2050 India would become one of the three largest economies of the world with the US and China.

Ninja kick

Fri, 20 Nov 2009 23:13:17 +0500

Addicted to speed? Fancy a superbike that’s out of reach? Try the latest mini sportbike from the Kawasaki stable — the Ninja 250R, writes Rishad Cooper. See graphics

Indian economy likely to grow 8 pc next fiscal Nomura

Fri, 20 Nov 2009 22:12:56 +0500

The Indian economy is likely to grow by eight per cent in the next fiscal, propelled by domestic demand, financial services firm Nomura has said.

Nokia to axe 330 jobs in Finland Denmark

Fri, 20 Nov 2009 21:20:12 +0500

Handset giant Nokia on Saturday said it will cut around 330 jobs in Finland and Denmark, as part of streamlining research and development operations.

Name similar to terrorist You may not get insurance

Fri, 20 Nov 2009 20:52:43 +0500

If your name happens to be Abdur Razzaq or a Mohammad Selim, you may have a harrowing time buying an insurance policy, report Jaidev Majumdar & Falaknaaz Syed.

Indian consumers still cautious playing safe

Fri, 20 Nov 2009 20:49:15 +0500

With bitter experience of slowdown still etched in their memory, and expecting Reserve Bank of India (RBI) to hike interest rates in early 2010, cautious Indian consumers are refusing to loosen their purse strings, reports HT Correspondent.

US lawmakers threaten sanctions on China over currency

Fri, 20 Nov 2009 20:45:26 +0500

US lawmakers criticised US President Barack Obama’s administration for not pressuring China enough over its rigid currency as they set the stage for slapping import duties on Chinese goods.

Hari Bhartia to lead CII Biz team to US

Fri, 20 Nov 2009 20:40:58 +0500

A high-powered business delegation led by CII president-elect and co-chairman and managing director of Jubilant Organosys, Hari Bhartia, will arrive in the US to strengthen bilateral economic relations between the two countries and forge collaborations on global challenges, reports HT Correspondent.

Govt panel on ECB auctioning

Fri, 20 Nov 2009 20:35:53 +0500

As concerns rise over sharp rise inflow of foreign funds to India, the government will set up a joint committee under the finance ministry and RBI to make recommendations on the introduction of a mechanism for auctioning ECBs to corporations, report Anupama Airy and Gaurav Choudhury.

Centre clears Rs 7 300 cr roads for Naxal belt

Fri, 20 Nov 2009 20:32:30 +0500

The government is building a "concrete road network" right through India's Naxalite corridor that criss-crosses eight states, reports Samiran Saha.

Rise in the air this fall

Fri, 20 Nov 2009 20:22:43 +0500

There is a spring in the step of India Inc, but inflation remains a big worry, reports Sanjib Baruah.

Late rally pushes Sensex above 17 000 point mark

Fri, 20 Nov 2009 20:06:11 +0500

A late rally by banking and energy stocks on Friday helped a benchmark index close above the 17,000-point mark, up 1.41 percent, after languishing in the negative terrain for most of the day.

Controversial social network ranks third

Fri, 20 Nov 2009 17:36:24 +0500

Bharatstudent.com stole third place behind Orkut and Facebook with over 3 million users, according to comScore's recent list of India's top social networking sites, reports Rohan Koshy.

Nokia says it will cut 330 jobs in Finland Denmark

Fri, 20 Nov 2009 16:54:47 +0500

Nokia, the world's biggest mobile phone maker, said it would shed about 330 jobs in Finland and Denmark as part of a streamlining of its research and development operations.

Disinvest use money for green assets Finance Commission chief

Fri, 20 Nov 2009 16:48:19 +0500

The government should sell off half its public sector undertakings and use the $200 billion it will thus make to build environmental assets, 13th Finance Commission Chairman Vijay Kelkar said here on Friday.

Sony slides to 4 mth low plan fails to inspire

Fri, 20 Nov 2009 16:33:46 +0500

Shares of Sony Corp fell to their lowest in nearly four months after the electronics maker announced a new business strategy that failed to encourage investors of its growth prospects.

Silver to touch Rs 31 250 soon Industry body

Fri, 20 Nov 2009 14:44:13 +0500

Silver is likely to become expensive in the coming days globally, as investors have gone gung-ho over the white metal in the last two months, according to a latest report by an industry body.

Airtel reduces roaming rates

Fri, 20 Nov 2009 13:23:46 +0500

Bharati Airtel reduces roaming rates by almost 60 per cent as part of their new bill plan on Friday.

Sensex down 118 points in opening trade on global cues

Fri, 20 Nov 2009 10:35:20 +0500

The Bombay Stock Exchange benchmark index Sensex lost nearly 118 points in opening trade today on increased capital inflows by funds and retail investors, triggered by weak global markets.

Google PC will start in seven seconds or less

Fri, 20 Nov 2009 09:30:12 +0500

New Google Inc software will start up a computer as fast as a television can be turned on, the search company said on Thursday as it showed off its Chrome operating system designed for PCs that do their work on the Web.

Yahoo jumps on Twitter bandwagon to improve search

Fri, 20 Nov 2009 08:20:41 +0500

Yahoo is jumping on the Twitter bandwagon in its latest attempt to improve its Internet search engine and lure back some of its dwindling audience.

Lodha chalks out expansion plan 5 new projects soon

Thu, 19 Nov 2009 23:01:25 +0500

The Mumbai-based Lodha Developers has chalked out definite plans to utilise Rs 2,790 crore mopped up through its initial public offer (IPO), expected by the end of this financial year.

India China lead global economic recovery OECD

Thu, 19 Nov 2009 22:57:41 +0500

India, China and the US are leading the world economy’s recovery but recovery is “still too timid” to halt the continuing rise in unemployment, according to Organisation of Economic Cooperation and Development’s latest economic outlook released, reports HT Correspondent.

India Inc backs e voting but transparency still an issue

Thu, 19 Nov 2009 22:53:54 +0500

e-Voting platform launched by CDSL Ventures Ltd (CVL), the cost affective, convenient and quick mode of getting shareholders approval has found favour with India Inc.

Liases Foras launches Ressex a real estate index

Thu, 19 Nov 2009 22:49:58 +0500

In a move to unravel the mystery surrounding the real estate sector, Liases Foras, one of India’s premier real estate research firms, has launched Ressex, a pan-India sensitive index for the real estate sector.

Singapore woos Indian workers

Thu, 19 Nov 2009 22:43:11 +0500

Contact Singapore, promoted by the Singapore Economic Development Board and the Ministry of Manpower, is holding a programme for engineering students next month to visit the island nation and work for a week in manufacturing and financial services companies there.

NTPC suit valid Govt tells SC

Thu, 19 Nov 2009 22:12:26 +0500

Solicitor General Gopal Subramanium on Thursday clarified to the Supreme Court that its stand before the court has not “jettisoned the interest of the NTPC that is contesting with the Reliance Industries Limited before Bombay HC over the pricing of gas, reports HT Correspondent.

JFE Jindal in pact to make automobile steel

Thu, 19 Nov 2009 22:07:39 +0500

In a major development for the Indian steel sector, Sajjan Jindal-controlled JSW Steel and Japan’s second-largest steel maker, JFE Steel Corporation, have entered into a collaboration agreement to produce automotive steel in India as well as to explore mutual stockholding options, reports HT Correspondent.

but the poor continue to pay the inflation tax

Thu, 19 Nov 2009 22:04:38 +0500

The country is reeling under the impact of steep rise in a number of food items pummelled by a supply crunch in staple items such as potatoes, cereals and pulses.

Suzlon to sell 35 stake in Belgian subsidiary

Thu, 19 Nov 2009 21:58:46 +0500

Suzlon Energy, Asia’s largest wind turbine manufacturer, has decided to divest 35 per cent stake in its Belgian company, Hansen Transmissions, through sale of shares. Hansen, listed in the LSE, is a wind turbine gearbox manufacturer, reports HT Correspondent.

Gold turns too dear

Thu, 19 Nov 2009 21:53:02 +0500

The lust for the yellow metal has taken the commodity to its all-time high price of more than Rs 17,000 per 10 gm, led by a fall of 55 per cent in India, global demand fell 49 per cent in the third quarter, according to World Gold Council.

Gold silver retreats from record high on profit taking

Thu, 19 Nov 2009 20:39:06 +0500

Both the precious metals, gold and silver retreated from its overnight record highs on the bullion in Mumbai today due to reduced off-take from stockists and retailers at higher levels.

RNRL s conditional nod for govt as party in gas dispute

Thu, 19 Nov 2009 16:44:23 +0500

RNRL gave its consent in the Supreme Court to the oil ministry becoming a party in the dispute over supply of gas from Reliance Industries Ltd (RIL) but without giving up the right to cross-examine its officials.

No plan to hike oil prices soon Secy

Thu, 19 Nov 2009 16:23:35 +0500

The government is not considering at present to raise petrol and diesel prices in line with the firming international crude rates, Petroleum Secretary RS Pandey said.

Mukesh Ambani is India s richest

Thu, 19 Nov 2009 13:36:41 +0500

Mukesh Ambani has emerged the wealthiest person in India with a net worth of $32 billion, as the number of Indian billionaires in Forbes' "India Rich List" this year has nearly doubled to 52, thanks to the rebound in stock markets.

Food inflation rises to 14 55 per cent

Thu, 19 Nov 2009 13:32:19 +0500

Food inflation shot up to 14.55 per cent for the first week of November as pulses, mutton and spices turned costlier.

Sensex down 29 points amid mixed Asian cues

Thu, 19 Nov 2009 10:41:34 +0500

The market on Thursday remained under pressure with the benchmark Sensex falling by 29 points on fresh profit selling amid mixed Asian cues.

US stocks fall slightly on technology earnings

Thu, 19 Nov 2009 08:09:56 +0500

US stocks posted modest losses on poor profit forecasts from technology firms and a surprising dip in home construction.

BSNL contract stuck between security and rule

Thu, 19 Nov 2009 01:14:47 +0500

Caught between security concerns and transparency issues, the fate of state-owned Bharat Sanchar Nigam Ltd’s (BSNL) tender for procuring equipment and installing 93 million mobile telephone lines — and through it the company’s growth — has turned static. Manoj Gairola examines...

Flight delayed due to fog Snack while you wait

Thu, 19 Nov 2009 00:08:40 +0500

All airlines will provide flight status messages through SMS during the fog season. The Directorate General of Civil Aviation has issued a slew of guidelines to ensure smooth flight operations and least inconvenience to passengers when fog hits Delhi’s Indira Gandhi International Airport.

Pvt deal against govt s gas policy

Wed, 18 Nov 2009 23:24:57 +0500

The ministry of oil and petroleum natural gas said the two Ambani brothers could not have entered into a private agreement to trade gas because it was against government’s gas utilisation policy. HT Correspondent reports.

JHM Interstate to open 9 more budget hotels

Wed, 18 Nov 2009 23:22:46 +0500

The third party hotel management company, JHM Interstate Hotels India, has chalked out plans to expand its operations in the country. The company will have nine hotels in its kitty by the end of 2010. HT Correspondent reports.