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HindustanTimes Fri,29 Aug 2014

Business

HTC mobiles official sponsor of Kings XI Punjab

HTC
HTC Mobiles on Friday said it has become an official sponsor for Kings XI Punjab, one of the eight cricket teams of IPL. The sponsorship comes ahead of the sixth edition of the Champions League scheduled to be held from September 13 2014.

Are achche din here? Poll predicts revival of economy by Modi govt

INS Hansa airbase

Economic growth is forecast to have picked up to 5.3% between April and June, according to a Reuters poll of 40 economists, sharply higher than 4.6% in the previous quarter. The GDP data is due at 5.30pm on Friday.

Coalgate: CBI files closure report in case against KM Birla

Kumar Mangalam Birla
In a reprieve to top industrialist Kumar Mangalam Birla and others, who were named as accused in its FIR in one of the coal blocks allocation scam cases, CBI has filed a closure report in a special court in Delhi.

Former Infosys executives Bala, Pai plan $100mn global tech fund

V. balakrishnan, Infosys
Former Infosys board members and chief financial officers TV Mohandas Pai and V Balakrishnan are planning a $100-million (Rs 600-crore) offshore venture fund to invest in technology startups worldwide.

When BMW does an electric act

BMW to launch 7-series ActiveHybrid
In fuel efficiency, the ActiveHybrid promises almost double the mileage of the V12’s 7.5 kpl. But the diesel delivers 16.5 kpl. Overall, a more cost-efficient deal. Not to talk of the expense somewhere down the line, when the massive lithium ion battery needs to be replaced.

Cellphones to aid fin inclusion programme

cellphone
The Jan Dhan Scheme, launched by Prime Minister Narendra Modi on Thursday, will use nearly 900 million cellphone connections in India to spread banking services across the country, especially in rural areas.

Reform of industrial disputes act recommended in report

Chimneys
A report by the Centre for Public Affairs and Critical Theory, Shiv Nadar University says that an amended industrial disputes act should not assume a confrontational relationship between workers and management.

IBM launches Watson system for research, hopes for breakthroughs

IBM

IBM Corp on Wednesday launched a computer system that can quickly identify patterns in massive amounts of data, an ability that IBM said should hasten breakthroughs in science and medical research.

Dream run: Capital inflows fuel Sensex, Nifty to record highs

Bombay stock exchange
Indian markets continued their dreamrun on the back of capital inflows with the Sensex on  Thursday gaining for the sixth day as it rose 78 points to end at new closing peak of 26,638.11, wrapping up the seventh straight month of gains in August.

Gold steady, heads for monthly gain on Ukraine tension

Gold, assets
Gold was little changed on Friday but was on track to post a monthly gain, as growing tensions between Russia and Ukraine stoked safe-haven demand for the precious metal.

Apple sends out invites to Sept 9 event

Apple
Apple on Thursday sent out invitations to an event on September 9 near its Silicon Valley headquarters, amid rumors the tech giant will unveil a new iPhone and maybe a wearable device.

Don’t want Dadri land, Reliance Power tells Supreme Court

Anil Ambani
RPL had proposed a mega gas-based power project in Dadri. However, as gas was not made available for the project, the company has decided to give back the land to the state government.

Debt trap: Rs. 4.5 lakh cr worth of power projects on the block

High voltage electricity
With debt stuck projects languishing for want of fuel and timely clearances, India is currently saddled with a power capacity of 80,000 to 85,000 megawatt (involving an investment of over Rs. 4.5 lakh crore) that has been put on the block by developers.

Gold up for third day on softer dollar, geopolitical tension

US dollar
Gold rose for the third straight day on Thursday as euro regained strength against the US dollar and tensions between Ukraine and Russia burnished the metal's safe haven appeal.

Rupee recovers 7 paise against dollar in early trade

Rupee versus dollar
The rupee recovered by 7 paise to trade at 60.38 against the US dollar in early trade on selling of the American currency by banks and exporters amid sustained foreign capital inflows on Thursday.

Qantas Airways posts $2.6 billion loss for year

Qantas
Qantas Airways Ltd on Thursday posted a record 2.8 billion Australian dollar ($2.6 billion) loss, reflecting a profit-draining battle with its smaller rival Virgin Australia and aircraft write downs.
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