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HindustanTimes Thu,30 Oct 2014

Business

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.

Holding co for all PSUs soon, to report to PMO

The Narendra Modi-led government plans to give more administrative and financial powers to the top management of central public sector undertakings in order to reduce political interference and bring in accountability.

Kisan Vikas Patra poised to return soon

The government is all set to relaunch the new revamped Kisan Vikas Patra, a popular savings instrument for small savers, soon. Besides, it will also come up with a few more savings instruments especially meant for the girl child and the physically challenged.

Sitharaman: E-comm can’t be backdoor for multi-brand retail

Commerce minister Nirmala Sitharaman on Tuesday said e-commerce cannot be a ‘backdoor entry’ for multi-brand retail in India.

Govt panel to assess value of coal blocks

The government has formed a committee under former central vigilance commissioner Pratyush Sinha to assess compensation to be paid for taking over the coal mines that were running or ready for operations.

Ranbaxy books first profit in six quarters on exclusive drug launch

Generic drugmaker Ranbaxy Laboratories Ltd on Tuesday reported its first profit in six quarters after benefiting from the exclusive US launch of a cheaper copy of Novartis AG blood pressure pill Diovan.

Snapdeal seals $627mn investment deal with Japan's Softbank

In the biggest investment ever by an investor in any Indian e-commerce firm, Japanese group SoftBank has put in $627 million (Rs 3,847 crore) in Snapdeal, becoming the largest shareholder in the online marketplace.

Jubilant Life sciences eyes growth in Q4

Jubilant Life Sciences Ltd said on Tuesday that it expects to deliver stable performance in fourth quarter of 2014-15, buoyed by better operating conditions in contract manufacturing organisation (CMO) business.

Sensex recovers 128 points, Nifty reclaims 8,000-mark

Markets on Monday surged to a one-month high with Sensex rising 128 points to 26,880.82 and Nifty jumping 36 points to reclaim 8,000 mark led by gains in pharma and banking shares on rising rate cut hopes and good earnings.

Rupee slips 2 paise vs dollar at 61.32 in dull trade

The rupee on Tuesday slipped further by two paise to close at 61.32 against the US dollar due to some demand for the American unit in a lacklustre trade.

Alibaba's Jack Ma tops China rich list: Forbes

Jack Ma, founder of e-commerce giant Alibaba, is China's richest person with a fortune of nearly $20 billion, as billionaires increase despite a slowdown in the country's economy, Forbes magazine said Tuesday.

Japanese telecom giant SoftBank to invest $10 billion in India

In one of the biggest investment commitments from a Japanese company, telecom giant SoftBank has pledged to invest $10 billion (over Rs. 60,000 crore) in India's IT sector over the coming years.

Economy to grow 5.6% in 2014-15, 6.4% next year: World Bank

With reforms gaining momentum and macro-economic fundamentals improving, India's growth story was back on track, the World Bank said on Monday.

Mumbai University in world top 10 for billionaire alumni

Mumbai University ranks ninth in the world, ahead of even premium institutions such as the London School of Economics and the Massachusetts Institute of Technology, with about 12 billionaire alumni.
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