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HindustanTimes Sat,02 Aug 2014

Business

US talks compromise to end WTO deadlock

US secretary of state John Kerry on Thursday said he was hopeful that a compromise in a global trade deal to ease customs rules incorporating India’s concerns over the food security was still possible, even as hectic negotiations were underway in Geneva to meet the earlier agreed deadline of July 31.

Petrol price cut by Rs. 1.09 a litre; diesel gets costlier

Petrol price was on Thursday cut by Rs. 1.09 per litre, the second reduction in three-and-half-months, while diesel rates were hiked by 56 paise a litre.

Tata Motors to invest Rs. 16,000 cr in 4 years for development, tech boost

The company has been struggling in the domestic market due to an economic slowdown, while no new significant launches over the last four years have led to a loss in market share in passenger vehicle business.

FM eyes financial inclusion via mobile banking for all

Efforts are on to introduce mobile banking even on basic cellphones, finance minister Arun Jaitley said on Thursday, during a meeting with heads of public sector banks.

Give up subsidised cylinders meant for poor: Oil cos to affluent customers

There are 160 million LPG connections in the country and the annual outgo on LPG subsidy is over Rs. 40,000 crore. A subsidised cylinder costs Rs. 422 (in Delhi) compared to Rs. 920 for a non-subsidised one.

ICICI Bank Q1 net profit up 17%, beats estimates

ICICI Bank Ltd, country's second-biggest lender by assets, reported a 17% rise in quarterly profit, beating estimates, helped by loan growth and higher fee income.

BNP Paribas posts 4.3 billion euro quarterly loss after US fine

BNP Paribas on Thursday posted a net quarterly loss of 4.3 billion euros ($5.75 billion), as a record fine for violating US economic sanctions sent it into the red for the first time since 2008.

Maruti Suzuki Q1 net up 20.7% at Rs. 762.28 crore

Driven by robust sales, cost reduction and forex gains, the country's largest carmaker Maruti Suzuki India on Thursday reported 20.69% increase in net profit at Rs. 762.28 crore for the first quarter ended June 30, 2014-15.

Samsung profit falls as smartphone sales slow

Samsung Electronics Co. reported a bigger-than-expected fall in second quarter profit on Thursday and said it was uncertain if earnings from its handset business would improve in the current quarter.

WTO faction discussing customs deal without India

New Delhi wants the deal, which must be approved on Thursday, be accompanied by a parallel agreement giving it more freedom to subsidise and stockpile food grains than allowed under WTO rules.

Govt rules out any tax amnesty scheme; vows re-look at GAAR

The government on Wednesday said it will not come up with any tax amnesty scheme to unearth black money as it acts as a disincentive to honest tax payers.

Innovation to be key in Infosys’ strategy, says Vishal Sikka

Innovation and building new solutions to meet cuastomer needs will be centre to Infosys’ strategy, said Vishal Sikka, who is set to take over as the CEO and MD of the software services firm on Friday. The new leadership team will  broadly stick to the plan put in place by founders, he added.

Indian airline companies headed for $1.4 bn loss in 2014-15: CAPA

Indian airlines are headed for another large loss in 2014-2015 with risks peaking for some carriers, a report by aviation consultancy firm Centre for Asia Pacific Aviation (Capa) has said.

HCL Tech Q4 Net up 53.7% to Rs. 1,834 crore, beats estimates

India's fourth largest software services firm HCL Technologies on Thursday reported a 53.7% jump in its consolidated net profit to Rs. 1,834 crore for the fourth quarter ended June 30, 2014.

Sensex surges 96 pts to reclaim 26K level; Airtel up, L&T down

Solid gains in Bharti Airtel, ICICI Bank and HDFC shares helped the benchmark Sensex on Wednesday log its first rise in three sessions and end about 96 points higher to reclaim the 26K level despite sharp losses suffered by L&T.
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