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HindustanTimes Sun,13 Jul 2014

Business

Policy design flaws, clearance delays stymie infrastructure investments

Calling for an immediate intervention, the Economic Survey for 2013-14 has noted that the core sector investment in India has been hit due to design flaws in policies and delays in 110 central infrastructure projects, which has caused cost overruns in excess of rs 1.57 lakh crore.

Fast-track reforms, quick policy decisions key for services growth

The report pointed out that the country’s services sector that include IT-ITeS, shipping, ports, railways, tourism, hotels and restaurants among others had been growing at a steady rate of over 10% since 2005-06, but has shown 'subdued performance' in the last three years.

Before budget, FM calls on Manmohan Singh

While finance ministry sources called the meeting at Singh’s 3, Motilal Nehru Place residence a 'mere courtesy call with no discussion on either the Indian economy or the budget', this is the second recent occasion when Jaitley spent time with the ex-PM.

US Fed to end bond buying in October

The United States Federal Reserve on Wednesday announced it will end its bond buying programme by October saying the domestic economy looked on course to recovery.

Rupee logs worst drop in a month, down 44 paise at 60.19 against dollar

Moving in tandem with equities, the rupee on Thursday tumbled 44 paise, posting its biggest drop in nearly a month, to end at 60.19 against the dollar on a day the Narendra Modi-led government presented its maiden Budget.

Sensex crashes 518 pts on rail budget, profit-booking

The railway budget appeared to give the jitters to a stock market in the midst of a heady rally.  The benchmark Sensex plunged 2%, attributed to a blow-expectation rail budget on the one hand profit-booking after a new life-time high reached a day earlier.

Smartphones weigh on Samsung flags 25% plunge in Q2

Samsung Electronics Co Ltd on Tuesday issued unexpectedly weak quarterly earnings guidance which put it on track for its worst results in two years and cast doubt on the smartphone leader's strategy against cheaper Chinese rivals.

Railway budget will take India's growth to new heights: PM Modi

Hailing the Railway Budget as 'futuristic and growth-oriented', PM Narendra Modi on Tuesday said it marks launch of the process of taking India's growth to new heights besides helping provide greater services and safety to the people.

Rupee snaps 3-day fall on bunched-up dollar inflows

The rupee rose on Tuesday, snapping a three-session falling streak, as bunched-up dollar inflows due to the US holiday on Friday helped offset negative sentiment due to the sharp fall in domestic shares.

Carrefour exits India, in talks to sell its 5 wholesale stores

French retail giant Carrefour on Tuesday said it will exit its India business and has initiated talks with Reliance Retail and Bharti Enterprises to sell its assets in the country.

DoT sets the stage for spectrum auctions

The department of telecommunications (DoT) has prepared a roadmap for auctioning radiowaves to existing and new telecom operators for the next five years, though it refuses to indicate the revenue it expects to mop up from the exercise.

SpiceJet puts up 1 mn seats starting Rs. 999; rivals likely to follow

India’s second largest budget carrier SpiceJet announced its third flash sale in less than a month offering a million seats for fares starting at `999 plus taxes.

Privatisation of Air India not on cards: aviation minister

 There are no plans to privatise the loss-making national carrier Air India (AI), aviation minister Ashok Gajapati Raju told the Parliament on Tuesday.

Bharara suffers first defeat in insider trading cases

A Manhattan jury on Tuesday acquitted Rengan Rajaratnam of charges of conspiracy to commit insider trading, handing US attorney Preet Bharara his first defeat in such cases.

French retail giant Carrefour to exit India, shut five wholesale stores

The world's no.2 retailer by sales, which has been operating in India since 2010, will shut its five Indian wholesale stores by the end of September, it said in a statement late on Monday.
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