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HindustanTimes Thu,18 Sep 2014

Business

Ikea to invest $500 million more in India,eyes 25 stores in 10 years

IKEA
World's largest furniture retailer Ikea on Wednesday said it has plans to invest Rs. 12,500 crore to set up 25 stores in the country over the next decade.

US Fed signals plan to keep key rate at record low

IKEA
The US Federal Reserve on Wednesday announced it may end its bond-buying scheme in October, but will leave the interest where it is now, near zero, for 'considerable time'.

Wipro, Infosys enter list of top 5 Indian BPOs

Wipro

The Indian business process management (BPM) industry has seen a rejig with Wipro and Infosys entering the top five positions in 2013-14, according to Nasscom, the industry body for IT-BPM.

Soon, car owners can force recalls in case of defects

 Nano Twist

In a move that will have far reaching consequences, the new Motor Vehicles act likely to be passed in the upcoming winter session of Parliament puts in place a mandatory policy for recalling defective cars, thereby empowering consumers to initiate a recall in case a manufacturer is reluctant to do so. 

China to set up industrial parks in Maharashtra and Gujarat

Modi Xi
China will set up two industrial parks in India, in Maharashtra and Gujarat, at an investment of $6.8 billion (Rs 40,800 crore).  The two countries signed an agreement for the first park, to be set up near Baroda, on Wednesday.

Sony forecasts $2 billion loss, cites weak mobile

Sony
The Japanese electronics and entertainment conglomerate said on Wednesday it anticipates a net loss of 230 billion yen ($2.15 billion) for the fiscal year that ends March 31, 2015. Its previous forecast was for a 50 billion yen ($466 million) net loss.

Rupee gains 9 paise against dollar in early trade

rupee
The rupee appreciated by nine paise to 60.96 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.

Sensex, Nifty fall most in 7 weeks ahead of US Fed policy meet

stock broker
In their worst single-day drop in nearly 7 weeks, Sensex on Tuesday plunged 324 points and Nifty tanked 109 points on across-the-board selling on caution ahead of the outcome US Federal Reserve's monetary policy meeting.

Android One set to force Samsung into price war

Android One phone
With Google throwing its tech might behind Micromax, Karbonn and Spice, while introducing the Android One OS, South Korean giant Samsung, which was conspicuously absent, may now have to enter into a price war at the bottom of the smartphone pyramid.

Jet plane plunge: co-pilot fiddled with controls, says Boeing report

In a startling twist to the incident involving a Jet Airways aircraft plunging over 5,000 feet while flying over the Turkish airspace last month, it has now emerged that the co-pilot may have fiddled with the aircraft controls, resulting in the free fall.

Indigo inks $2.6 bn leasing deal with Chinese bank

IndiGo Airlines
Budget passenger carrier IndiGo has signed a $2.6 billion finance and leasing agreement with the Industrial and Commercial Bank of China under which the latter will finance more than 30 new aircraft, it was announced here on Wednesday.

Indian-Chinese companies sign 24 MoUs worth $3.4 billion

Modi Xi

India and China business received a $3.4 billion boost, with companies from both countries on Wednesday signing 24 contracts for supply of equipment and service. The MoU were signed in areas of aircraft leasing and financing, telecom, chemicals, wind power components, cotton yarn and fabric, synthetic fibre and seafood.

Sensex rebounds over 138 points on hopes Fed will retain low rates

budget, BSE
Snapping a two-day downtrend, the benchmark Sensex Wednesday rose over 138 points on the back of gains in IT, power and auto scrips amid positive global sentiments on hopes Fed would keep interest rates low for now.

ED, CBI disagree over letting 2G accused go abroad

Karim Morani

The Enforcement Directorate (ED) and CBI are at odds over whether to allow two people, accused in 2G spectrum allocation, to travel abroad.

Rs 25,000 crore branded foods held up at ports

Chocolates

From Swiss chocolates to premium whiskies, from canola oil to non-alcoholic beverages — food products worth Rs. 25,000 crore are stuck in India’s various ports or being re-exported because of arbitrary regulatory scrutiny.

Rajan warns on excessive FII inflows

Raghuram Rajan

Reserve Bank of India governor Raghuram Rajan on Tuesday cautioned over reliance on overseas fund inflows and said that caps on foreign institutional investors’ investments in debt should be continued.

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