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HindustanTimes Wed,17 Sep 2014

Business

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.

Sensex, Nifty fall most in over 5 weeks on weak global cues

The benchmark BSE Sensex tumbled over 185 points to dip below the 27,000-mark in early trade on Monday on selling by funds and retail investors after industrial production growth slowed to 0.5% in July amid a weak trend in the Asian region.

Rupee dips to 1-mth low of 61.13 vs dollar

The Indian rupee fell 48 paise on Monday, its sharpest plunge in more than five weeks, closing at 61.13 against the dollar, the lowest since August 13.

Six years after Lehman Brothers collapse, the world remains fragile

Six years have passed since the collapse of Lehman Brothers Holdings Inc on 15 September 2008 but rising asset prices in recent times would have us believe that world economy has moved on.

India’s richest eye slice of Alibaba’s mega $21.1-billion IPO

Chinese e-commerce giant Alibaba.com, which is looking to raise a mammoth $21.1 billion (Rs 126.6 lakh crore) by listing on the United States stock market, is generating huge interest among investors worldwide, including among high net worth individuals in India.

Indiabulls: Promoters carve out new paths in separation deal

The Indiabulls promoters are dividing the real estate-to-finance-to-power group among themselves to bring greater focus to the constituent parts of the diversified conglomerate and also because of differing perceptions about individual companies.

Car, components cos differ on CCI order

SIAM president Vikram Kirloskar on Thursday hit out at CCI for the order and said that it completely ignores safety of consumers. Ironically, his statements came at sidelines of the annual session of ACMA that had lauded the verdict last Thursday.

New five-year foreign trade policy by September-end

The export policy is also likely to have incentives for 'domestic value addition' — the proportion of exports truly produced in India that will be dovetailed with the 'Make in India' programme.

Final call on thorny tax avoidance rules and GAAR likely by Feb 2015

The Centre is likely to take a final call on the controversial General Anti Avoidance Rule only by next February. The decision may well be announced by finance minister Arun Jaitley in his next budget presentation.

Blackmoney: SIT empowers ED to check huge forex violations

To check large-scale foreignexchange violations and generation of slush funds, a Special Investigation Team (SIT) on black money has asked RBI and Enforcement Directorate (ED) to jointly take on cases of huge exports outstanding.

FIIs pour in Rs. 17K cr in two weeks of September

Continuing to bet on the government's reforms agenda, overseas investors have pumped in a whopping Rs. 17,000 crore in the Indian capital market since the beginning of September.
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