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HindustanTimes Fri,29 Aug 2014

Business

Rupee recovers 7 paise against dollar in early trade

The rupee recovered by 7 paise to trade at 60.38 against the US dollar in early trade on selling of the American currency by banks and exporters amid sustained foreign capital inflows on Thursday.

Dream run: Capital inflows fuel Sensex, Nifty to record highs

Indian markets continued their dreamrun on the back of capital inflows with the Sensex on  Thursday gaining for the sixth day as it rose 78 points to end at new closing peak of 26,638.11, wrapping up the seventh straight month of gains in August.

Qantas Airways posts $2.6 billion loss for year

Qantas Airways Ltd on Thursday posted a record 2.8 billion Australian dollar ($2.6 billion) loss, reflecting a profit-draining battle with its smaller rival Virgin Australia and aircraft write downs.

A true leader thinks, acts and inspires, says the father of mountain biking

Gary Fisher, 64, a global icon, is called the father of mountain cycling. An American entrepreneur who designs and makes bicycles, Fisher discovered mountain biking as a young man, when he was suspended from a national bicycle race in the US on account of his long hair.

Not flying high: Air India faces maximum passenger complaints

Air India tops the list of passenger complaints lodged against Indian airlines in July this year, followed by no-frill carrier SpiceJet, official data shows. Most air travellers, who have lodged complaints against the airlines, complained of problems relating to delayed flights and their customer services.

Jaitley orders forensic audit of UCO Bank

Shares of Kolkata-based lender UCO Bank on Wednesday fell 8% on the Bombay Stock Exchange and the National Stock Exchange, a day after the finance ministry ordered limited forensic audit into some of its non-performing accounts.

Govt launches ‘.bharat’ domain name for eight Indian languages

With an aim to bridge the digital divide and enhance the reach of Internet to remote villages, communications and IT minister Ravi Shankar Prasad on Wednesday launched domain name ‘.bharat’, covering eight languages including Hindi, Konkani and Marathi.

For AI pilots, the grass is greener on this side

A number of AI pilots, who had submitted resignations in the last few months, have withdrawn them despite deferred salary payments and pending pay cuts. The AI management had unilaterally imposed a pay cut of 25% last year.

Provide KFA reasons for default notice: HC to PNB

The Delhi High Court on Wednesday said that Punjab National Bank, which has served a notice on Kingfisher Airlines alleging that it has willfully defaulted repayment of dues of over Rs. 770 crore, should give to the carrier copies of documents relied upon by the bank.

Banks fret as coal ruling puts Rs. 1 L-cr loans at risk

Power developers and lenders are worried as investments over Rs. 1.5 lakh crore are at risk. With a 70:30 debt-equity ratio for these projects, lenders have an exposure of close to Rs. 1 lakh crore in these projects.

SC orders DLF to pay Rs. 630 cr fine within 3 months for unfair practices

The Supreme Court directed on Wednesday real estate giant DLF to deposit Rs. 630-crore fine imposed by Competition Commission of India (CCI) for alleged unfair trade practices pending its appeal.

Sundaram BNP Paribas offers special rate of interest on home loans

Sundaram BNP Paribas Home Finance has launched a new scheme for funding rural houses at a concessonal rate of 9.60 per annum for women, SCs and STs, the company said on Wednesday.

Ratan Tata invests in Snapdeal.com

Snapdeal, which has raised about $400 million since its inception, has invested about $100 million in logistics and operations to expand its presence in the $3 billion Indian eCommerce market.

Sensex, Nifty mark record closing high on Euro zone stimulus talk

The BSE Sensex and Nifty rose on Wednesday to record closing highs as expectations of further monetary stimulus in the Euro zone raised hopes of continued foreign inflows, lifting blue-chips such as ICICI Bank Ltd.

Indian rupee ends flat, but hopes high about foreign flows

The Indian rupee ended steady on Wednesday as optimism over continued foreign investments in domestic markets was offset by caution ahead of key indicators this week, including economic growth data.
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