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HindustanTimes Thu,18 Sep 2014

Business

Croma, Snapdeal.com tie-up to sell electronic goods online

Tata Group-promoted Infiniti Retail, which runs consumer durables chain Croma, have entered into a strategic partnership with e-commerce firm Snapdeal.com, where Croma will open its brand store on Snapdeal’s marketplace to tap more customers.

Norms for fresh bank licences by March: RBI

The Reserve Bank of India (RBI) on Tuesday said it will issue final guidelines for on-tap universal banking licences before the end of 2014-15.

India can become major export hub by 2030: HSBC

India has the potential to become the world’s fifth-largest exporter of goods by 2030 with the textile industry set to regain its place as the global garment hub, an HSBC report said.

Govt to decide on diesel deregulation after state polls

The local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices.This is for the first time this has happened,  due to a sustained monthly rise in local prices since January 2013.

Sensex recovers 44 points in early trade

The benchmark BSE Sensex gained over 44 points in early trade on Tuesday on emergence of buying by funds and retail investors in select stocks.

Rupee rebounds from 1-month lows, up 8 p Vs dollar to end at 61.05

Bucking a weak trend in stocks, the Indian rupee on Tuesday recovered from one-month lows to end with a modest gain of eight paise at 61.05 against the Greenback on fresh dollar selling by exporters.

Rajan bats for more freedom to state-run banks

Batting for greater autonomy to state-run lenders, RBI governor Raghuram Rajan said on Monday the government should look at them as truly "independent entities" that take their own commercial decisions and not as an extended arm of the administration.

Brent at $97, steep petrol price cut likely

After the Rs. 5 a litre cut in petrol prices during August, the continuous fall in the global oil prices to a 26-month low of $96.91 per barrel is expected to result in yet another substantial cut in the prices.

Export growth hits 5-mth low in August, trade deficit widens

India’s export growth slumped to a five-month low of 2.35% in August at $26.95 billion, while trade deficit jumped to $10.83 billion, a four-month high on the back of surging gold imports.

Rate cut only when inflation is under control, says Rajan

RBI governor Raghuram Rajan on Monday said India’s economic growth was uneven and there was still some 'way to go' before 'we are out of the woods', and that the central bank would cut interest rates only when inflation is under control.

PM Modi pushes for GST, chairs crucial meet

PM Narendra Modi on Monday took stock of India’s biggest tax reform initiative — Goods and Services Tax — with the government planning to introduce the Constitution Amendment Bill during the winter session.

Wholesale inflation at 5-year low, food prices dip

India’s wholesale inflation rate plunged to 3.74% in August, the lowest in almost five years, aided by a sharp drop in vegetable and petrol prices, data released Monday showed.

Cognizant to buy TriZetto for $2.7 billion to boost healthcare business

In the largest acquisition by an India-centric IT services company, Cognizant Technology Solutions is set to buy US-based TriZetto for $2.7 billion ( Rs. 16,500 crore) from private equity firm Apax Partners in an all-cash deal.

India's export growth slips to 2.35% at $26.95 bn in Aug

Continuing the downtrend, India's export growth slipped to 2.35% at $26.95 billion in August, pushing up trade deficit to $10.83 billion.

ArcelorMittal, Gerdau to sell US steel mill for $770 million

World's biggest steel producer ArcelorMittal on Monday said it has inked a pact with Brazil's Gerdau to sell their 50% stakes in US-based Gallatin for $770 million, as part of its strategy to divest non-core assets.
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