India's IT outsourcing firms are looking to US President Barack Obama's healthcare reform to boost their revenue growth which is slowing as the $146 billion industry's key financial and manufacturing clients spend less on software services.
A savage correction in China's stock markets, which fell by 30%, has affected investors in the Asian markets, already threatened by the ongoing Greek debt crisis.
The benchmark BSE Sensex cracked the 28,000-mark by tumbling 292 points in early trade on Wednesday on across-the-board selling by participants, tracking more heavy losses in Shanghai and on fears about Greece's future in the eurozone.
The rupee extended its losses for the second day, falling by 13 paise to 63.59 against the US dollar in early trade on Wednesday, largely due to appreciation of the American unit against other currencies overseas amid Greece's crisis.
The Sahara group on Tuesday expressed its inability to pay Rs 36,000 crore to its investors within 18 months as ordered by the Supreme Court last month, saying there was “no business house in the world or country” that could pay the amount within the time frame fixed by the court.
Eurozone members have given Greece until the end of the week to come up with a proposal for sweeping reforms in return for loans that will keep the country from crashing out of Europe's currency bloc.
The employment opportunities in the banking sector will open up during October-November period with the Reserve Bank of India expected to issue small and payment bank licences next month.
After facing harsh criticism over drug manufacturing quality in the recent past, government is now set to draft a new set of guidelines to regulate drug quality in India.
Chennai-based research organisation, Quest Life Sciences, which has been hit by a World Health Organisation (WHO) notice citing deviations from good clinical and laboratory practices, on Tuesday said it was willing to conduct the clinical study once again to the satisfaction of the international regulator.
In a bid to boost manufacturing output, the government is considering a host of indirect fiscal measures which might pull the industry from its existing slowdown.
Chinese shares took another tumble on Tuesday, defying government efforts to arrest a precipitous fall that has wiped an estimated $3.2 trillion off markets and threatens the world’s number-two economy.
Even as the government is reviving stranded gas-based power plants, significant coal-based capacity is idling simply because states are unwilling to sign long-term power purchase agreements (PPAs).
Another clinical research organisation, Quest Life Sciences of Chennai, is in trouble over defective trials work, according to a warning issued by the World Health Organization.
Gold prices on Tuesday fell by Rs 70 to Rs 26,500 per ten grams at the bullion market, snapping a two-day run due to slackened demand at prevailing levels amid a weak global trend.
Global oil prices rallied on Tuesday after one of their biggest selloffs this year, but looked vulnerable to further falls after Chin's stock market too another hit, and Greece moved closer to exiting the eurozone.