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HindustanTimes Fri,19 Sep 2014

Business

Snapdeal in talks to raise fresh funds

Snapdeal.com, one of India’s biggest online marketplaces, is in advanced talks to raise more than $600 million in fresh funding from existing investors led by Softbank, according to three people with direct knowledge of the matter.

Indian rupee ducks Asia FX falls to end higher after Fed meet

The Indian rupee gained on Thursday tracking a rally in domestic shares on hopes the country would retain its appeal to foreign investors, despite uncertainty about the outlook for US interest rates that hit other emerging markets.

Alibaba in talks with Snapdeal to enter India: Reports

Chinese e-commerce giant Alibaba is in talks with online retailer Snapdeal to enter India, the Economic Times reported on Thursday, citing two people aware of the development.

Ikea scouting for space in Delhi, B’lore, Mumbai, Hyderabad

Swedish furniture retailer Ikea is scouting for locations in four cities — New Delhi, Bangalore, Mumbai, Hyderabad — to open its outlets, a top company official said on Wednesday.

US Fed won't change rates now, to end bond-buying

The US Federal Reserve on Wednesday announced it would end its bond-buying scheme in October, but will leave the interest where it is now, near zero, for “considerable time”.

Wipro, Infosys enter list of top 5 Indian BPOs

The Indian business process management (BPM) industry has seen a rejig with Wipro and Infosys entering the top five positions in 2013-14, according to Nasscom, the industry body for IT-BPM.

Jet plane plunge: Co-pilot fiddled with controls, says Boeing report

In a startling twist to the incident involving a Jet Airways aircraft plunging over 5,000 feet while flying over the Turkish airspace last month, it has now emerged that the co-pilot may have fiddled with the aircraft controls.

Soon, car owners can force recalls in case of defects

In a move that will have far reaching consequences, the new Motor Vehicles act likely to be passed in the upcoming winter session of Parliament puts in place a mandatory policy for recalling defective cars. 

Indigo inks $2.6 bn leasing deal with Chinese bank

Budget passenger carrier IndiGo has signed a $2.6 billion finance and leasing agreement with the Industrial and Commercial Bank of China under which the latter will finance more than 30 new aircraft, it was announced here on Wednesday.

China to set up industrial parks in Maharashtra and Gujarat

China will set up two industrial parks in India, in Maharashtra and Gujarat, at an investment of $6.8 billion (Rs 40,800 crore).  The two countries signed an agreement for the first park, to be set up near Baroda, on Wednesday.

Indian-Chinese companies sign 24 MoUs worth $3.4 billion

India and China business received a $3.4 billion boost, with companies from both countries on Wednesday signing 24 contracts for supply of equipment and service. The MoU were signed in areas of aircraft leasing and financing, telecom, chemicals, wind power components, cotton yarn and fabric, synthetic fibre and seafood.

Sony forecasts $2 billion loss, cites weak mobile

The Japanese electronics and entertainment conglomerate said on Wednesday it anticipates a net loss of 230 billion yen ($2.15 billion) for the fiscal year that ends March 31, 2015. Its previous forecast was for a 50 billion yen ($466 million) net loss.

Sensex rebounds over 138 points on hopes Fed will retain low rates

Snapping a two-day downtrend, the benchmark Sensex Wednesday rose over 138 points on the back of gains in IT, power and auto scrips amid positive global sentiments on hopes Fed would keep interest rates low for now.

Rupee gains 9 paise against dollar in early trade

The rupee appreciated by nine paise to 60.96 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.

ED, CBI disagree over letting 2G accused go abroad

The Enforcement Directorate (ED) and CBI are at odds over whether to allow two people, accused in 2G spectrum allocation, to travel abroad.

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