HindustanTimes Thu,02 Oct 2014


Mallya has to clear loan defaults to serve as USL chairman: Diageo

CEO of Kingfisher Airlines Limited Vijay Mallya.

Loan default cases against Vijay Mallya and his UB Group may cast a shadow over his continuation as chairman of United Spirits Ltd in the future, with its current parent, UK-based Diageo, making it clear in a statement from its headquarters in London.

Rupee weakens to lowest since March 4

The rupee fell as low as 61.95 per dollar on Wednesday, its weakest level since March 4, as traders unwound positions ahead of holidays and at a time when the greenback is gaining globally.

Rajan holds interest rates, EMIs unlikely to dip soon

Raghuram Rajan
The Reserve Bank of India (RBI) kept rates on hold on Tuesday despite pressure from industry and government hopes that the central bank would lower borrowing costs to aid an incipient economic recovery.

Sensex ends 62 points lower, RIL down by 1.96%

Bombay Stock Exchange

The BSE benchmark Sensex on Wednesday closed 62 points lower due to profit-booking ahead of long week-end amid reports that India's manufacturing sector in September expanded at the slowest pace in nine months.

Maruti to recall 69,555 units of Dzire, Swift, Ritz

The Swift 4X4 comes with a fully automatic and permanent 4-wheel
The recall is only for the diesel variants of the three models. Out of the total, 55,938 units are of old Dzire, 12,486 units of old Swift and 1,131 units of Ritz, which were manufactured between March 8, 2010 and August 11, 2013, the company said in a statement.

Sensex up 33 points, profit-booking takes away most gains

Bombay Stock Exchange
The BSE benchmark Sensex on Tuesday surrendered most of its early gains to close just 33 points higher as profit-booking emerged in power and metal shares ahead of long holidays for markets, even as RBI kept interest rates unchanged.

NDA govt revives UPA’s free mobile phone scheme

The Bharatiya Janata Party-led NDA has dusted off the Rs.5,000 crore plan that involves giving a mobile phone to around 25 million households (which means it will cover around 100-125 million people).

24x7 power: World Bank offers Centre a plan

Electricity poll
The World Bank has submitted a detailed action plan that could help the government meet its objective of supplying power 24x7 in the country, with focus on bringing down distribution losses, improving infrastructure and expanding solar power.

Ex-Maruti exec Pareek to drive Tata Motors passenger vehicles

Pareek: greener pastures?

Mayank Pareek will join the company from October 1 and will replace Ranjit Yadav, who will now head Tata Motors’ international business for passenger as well as commercial vehicles, the company said in a statement.

Petrol price cut by 65 paise/litre from midnight

A petrol-pump employee filling fuel
After accounting for the incidence of local sales tax, petrol rate in Delhi was reduced by 65 paisa to Rs. 67.86 per litre, according to Indian Oil Corp (IOC), the nation's largest fuel retailer.

Non-subsidised LPG cylinder price cut by Rs. 21, ATF by 3%

LPG cooking gas
Price of non-subsidised cooking gas (LPG) was on Tuesday cut by Rs. 21 per cylinder and that of jet fuel (ATF) by a steep 3% on the back of falling international oil rates.

PayPal goes mobile, to split from eBay in 2015

The mobile payment service PayPal is splitting from eBay and will become a separate and publicly traded company next year.

Rupee loses 22 paise to end at 7-month low of 61.75 against dollar

The rupee on Tuesday lost 22 paise to end at almost seven-month low of 61.75 against the dollar as month-end demand for the US currency from oil importers weighed on the local unit.

Diesel price likely to be cut by Re 1/L, petrol by Rs. 1.75

Diesel price is likely to be cut by about Re 1 per litre, the first reduction in rates in over five years, while petrol price may be slashed by Rs. 1.75.

eBay to invest in companies, tie up with retailers for growth

Online shopping giant eBay plans to grow further in India through investment in other Internet companies, partnerships with retailers, and commercial tie-ups with firms it has invested in.

Growth rate of 5.7% to 5.9% achievable, says Mayaram

The government on Monday expressed confidence that a growth rate of 5.7% to 5.9% would be easily achievable during the current fiscal.

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