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HindustanTimes Sat,02 Aug 2014

Business

Why India stonewalled rich nations in WTO trade talks, and what happens next

WTO
India withstood mounting pressure to ratify a trade pact from the developed countries, which blamed India's hard bargain strategy for the eventual collapse of the talks. India's refusal to sign pact sends wrong signal: Kerry

WTO deal not dead, can sign in Sept if concerns addressed, says India

WTO
India is willing to sign a global trade deal, which it has torpedoed, if other WTO members can agree to its parallel demand for concessions on stockpiling food, senior officials in New Delhi said on Friday. Why India stood firm at WTO trade talks

4.1% fiscal deficit target a daunting challenge: Jaitley

Arun Jaitley
Finance minister Arun Jaitley on Friday said the fiscal deficit target of 4.1% of GDP for the current fiscal is a "daunting" task and announced the subsidy bill will be reduced progressively.

‘Acchhe din’ for motown as car sales grow in double digits in July

2013 Hyundai Grand i10 review, test drive
The domestic automotive industry rode the momentum it gained after India voted decisively to usher in a stable government two months ago, with most major passenger vehicle manufacturers posting high double-digit growth in sales in July over last year.

India’s industrial output in July hits 17-month high

Construction work
Production activity in factories jumped to 17-month high in July driven by a flood of new orders, data from a monthly survey showed, rekindling hopes of a rebound in the Indian economy battling a prolonged slump.

Maruti July sales rise 21.7% to 1,01,380 units

Maruti Suzuki
Country's largest car-maker Maruti Suzuki India on Friday reported 21.7% increase in its total sales for July at 1,01,380 units as against 83,299 units in the same month last year.

Sensex down over 400 points; Nifty's biggest fall in 3.5 weeks

budget, BSE
The Nifty fell 1.5 % on Friday, marking its biggest single-day fall in nearly 3-1/2 weeks as blue-chips such as Reliance Industries slumped tracking weaker global markets ahead of US jobs data later in the session.

DLF quarterly profit falls 29% on lower home sales

DLF Ltd
DLF Ltd, India's top real estate developer, reported a 29% fall in quarterly net profit, hit by slowing home sales in Asia's third-largest economy as high inflation and interest rates continued to deter home buyers.

Firms focus on investment, Jindal joins club

investment

Indian and foreign companies have announced plans to invest about Rs. 5 lakh crore since May this year, when the Narendra Modi-led NDA came to power, signaling a possible revival of the stalled investment cycle that has slowed down India’s GDP growth rate.

Vishal Sikka logs in as chief executive at Infosys

Vishal Sikka
Improving the existing business, entering into new avenues of software development and working with start-ups would be some of the priorities of Vishal Sikka, the new CEO and MD of Infosys, who took charge on Friday.

Centre eyes zero-tax rate on petro products under unified GST

A petrol pump
In a bid to iron out differences on the implementation of a unified GST regime, the Centre eyes a zero-tax rate for petroleum products, but has insisted that such products be included in the new tax regime.

Argentine markets fall post-default, NY hearing on Friday

Argentina's President
Argentina's bond and stock markets and peso currency dropped on Thursday after Latin America's No. 3 economy defaulted for the second time in 12 years following the collapse of last-ditch talks with holdout creditors.

Alibaba invests $120 million in Kabam in latest US deal

Alibaba
Alibaba Group Holding Ltd has invested $120 million in San Francisco-based mobile games studio Kabam, the latest in a string of US investments intended to build up the Chinese online retailer's presence in the world's biggest Internet arena.

Rupee falls 22 paise against dollar in early trade

Currency
The rupee lost 22 paise to over three-month low of 60.77 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market on increased capital outflows amidst demand for the American currency from importers.

India says it is committed to trade facilitation agreement, WTO talks fail

WTO
India's demands for concessions on agricultural stockpiling led to the World Trade Organization failing on Thursday to 'bridge the gap' on standardising customs rules. The deadline passed without a breakthrough.

JSW Steel to pump in $22 bn to triple output

JSW Steel on Thursday announced an ambitious plan to invest $22 billion (Rs 1,32,000 crore) to increase its steel capacity over three times to 40 million tonnes per annum by 2025.
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