Finance Minister P Chidambaram today asked countrymen to contain their "uncontrolled passion" for gold and instead save in financial instruments.
A powerful US trade body on Thursday urged President Barack Obama to ensure current efforts at immigration reforms do not end up discriminating against Indian firms. Yashwant Raj reports.
Indian-born CEOs in the West have come a long way from the 1980s, when they were seen as geeks and nerds barely capable of making it to the top job. HT
Petroleum Minister Veerappa Moily on Friday refuted allegations levelled by CPI MP Gurudas Dasgupta that the proposed revision in gas pricing was being done to benefit private sector players such as Mukesh Ambani-led Reliance Industries. HT reports.
Bharti Infotel Ltd has been directed by a consumer forum in New Delhi to pay Rs. 50,000 as compensation to a customer for making threatening calls to pay Internet bills which were raised despite his request for disconnection of the service.
Shareholders in India's Jet Airways approved an agreed sale of a 24% stake in the airline to Abu Dhabi's Etihad Airways, a senior executive at the Indian carrier said today.
Extending losses for the second day in a row, shares of Wockhardt today plummeted by over 19%, after the company said import alert issued by US health regulator on its manufacturing facility near Aurangabad could impact the company's business by $100 million.
The rupee on Friday weakened further by 10 paise to 55.69 against the dollar in early trade on the Interbank Foreign Exchange due to appreciation of the US currency overseas.
Stocks zig-zagged up and down on the Bombay Stock Exchange on Friday, indicating a volatile mood after a rally this year stymied by concerns on a weakening rupee and uncertainties in the global environment and local corporate performance.
Tata Steel Ltd shares rose more than 5% on Friday after its January-March quarterly operating profit beat analyst estimates.
Abu Dhabi carrier Etihad’s Rs. 2,058-crore stake purchase in Jet Airways seems to have hit an air pocket, with regulators seeking more clarity on the deal to ensure overall competition in the aviation market is not affected and interests of public shareholders and consumers are protected.
Vedanta Resources will use the $1.7 billion (Rs 9,500 crore) it has raised through bonds to partly repay the debt taken for its Cairn India acquisition.
As Sebi celebrates its 25 years of existence, chairman UK Sinha says this has been an eventful journey for the capital markets regulator and it has created market infrastructures that are better than those in many other countries, including some most developed economies.
India’s biggest commercial bank, State Bank of India (SBI), on Thursday posted a 18.54% year-on-year decline in its net profit to Rs. 3,299 crore during the quarter ended March 31, from Rs. 4,050 crore recorded during the corresponding quarter of the previous fiscal.
The Indian government will be comfortable with a stable rupee exchange rate and there was no reason for the currency to be unstable, C Rangarajan, chief economic adviser to Prime Minister Manmohan Singh, said today.