HindustanTimes Fri,31 Oct 2014


Snapdeal eyes acquisitions, $3bn in transactions by December

A day after SoftBank chairman called it the Alibaba of India, Snapdeal on Wednesday revealed plans to acquire technology companies on its way to clocking an annual rate of sales of $3 billion by December.

Economists, pvt sector officials may bag top posts in govt companies

Official sources said a new policy is being framed by the Department of Personnel & Training (DoPT) following instructions from the PMO to rope in professionals and private sector heavyweights.

Adani hires Parsons Brinckerhoff for Australia coal project

Indian conglomerate Adani on Wednesday named the US-based Company Parsons Brinckerhoff as its project management contractor for the long-delayed $15 billion Carmichael mine, rail and port project in Australia.

Aircel-Maxis case: Court summons Maran brothers

A special court on Wednesday summoned former telecom minister Dayanidhi Maran and others in the 2006 Aircel-Maxis deal — as part of the larger 2G spectrum allocation scam case — asking them to appear before it on March 2 next year.

Dr Reddy's second-quarter profit falls 17%

Dr Reddy's Laboratories Ltd, India's second-largest drugmaker by revenue, reported a 17% drop in its second-quarter profit due to higher costs, pushing its shares down nearly 3% on Wednesday.

Subsidised LPG rate increased by Rs. 3/cylinder

Subsidised cooking gas (LPG) rates have been hiked by Rs. 3 per cylinder after the government raised the commission paid to dealers.

Facebook warns of increased spending, shares fall

Facebook Inc warned on Tuesday of a dramatic increase in spending in 2015 and projected a slowdown in revenue growth this quarter, slicing a tenth off its market value.

Moody's retains negtive outlook on banks for highcorp leverage

International rating agency Moody's on Wednesday retained its negative outlook on the domestic banking system, citing high leverage in the corporate sector that may prevent any meaningful recovery in asset quality.

India can grow at 8-9%; good governance key: FM

India has the capacity to grow at 8-9% and good governance would make economic expansion 'more exuberant', finance minister Arun Jaitley said on Wednesday.

Govt relaxes FDI rules in construction sector

The government on Wednesday relaxed norms for foreign direct investments in the construction and housing sector, slashing the minimum capital and built-up area requirements for projects, to help bring in fresh funds to the cash-strapped sector.

Markets at over five-week high; Sensex ends above 27K-mark

Indian markets on Wednesday soared to over five-week highs with Sensex reclaiming 27,000-mark and Nifty inching closer to 8,100-level on the back of gains in metal and auto shares in line with a buoyant global trend ahead of US Federal Reserve's policy meeting outcome.

Centre gives black money full list to SC, names to remain secret

The government on Wednesday submitted a list of 627 Indians holding accounts in HSBC Bank, Geneva, to the Supreme Court, which directed its special investigating team to examine them and take appropriate action.

Indian rupee ends a tad weaker ahead of Fed meet outcome

The Indian rupee ended slightly weaker on Wednesday as caution prevailed ahead of the outcome of the US Federal Reserve's policy meeting later in the day, although broader sentiment remained positive following continued foreign inflows.

India drops to 142 in Doing Business ranking

With India ranked 142nd in the new Doing Business report released on Tuesday, foreign investors are likely to need more than just an invitation to come and Make in India.

NRI group sues ICICI for $103 mn in Mauritius for investment losses

A group of 69 non-resident Indian investors out of about 500, most from the Gulf countries, has dragged ICICI Bank, among other associated companies to the Mauritius Supreme Court, alleging losses worth $103 million in their investments made in a real estate fund.
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