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HindustanTimes Thu,10 Jul 2014

Business

Smartphones weigh on Samsung flags 25% plunge in Q2

Samsung Electronics Co Ltd on Tuesday issued unexpectedly weak quarterly earnings guidance which put it on track for its worst results in two years and cast doubt on the smartphone leader's strategy against cheaper Chinese rivals.

Railway budget will take India's growth to new heights: PM Modi

Hailing the Railway Budget as 'futuristic and growth-oriented', PM Narendra Modi on Tuesday said it marks launch of the process of taking India's growth to new heights besides helping provide greater services and safety to the people.

Rupee snaps 3-day fall on bunched-up dollar inflows

The rupee rose on Tuesday, snapping a three-session falling streak, as bunched-up dollar inflows due to the US holiday on Friday helped offset negative sentiment due to the sharp fall in domestic shares.

Carrefour exits India, in talks to sell its 5 wholesale stores

French retail giant Carrefour on Tuesday said it will exit its India business and has initiated talks with Reliance Retail and Bharti Enterprises to sell its assets in the country.

DoT sets the stage for spectrum auctions

The department of telecommunications (DoT) has prepared a roadmap for auctioning radiowaves to existing and new telecom operators for the next five years, though it refuses to indicate the revenue it expects to mop up from the exercise.

SpiceJet puts up 1 mn seats starting Rs. 999; rivals likely to follow

India’s second largest budget carrier SpiceJet announced its third flash sale in less than a month offering a million seats for fares starting at `999 plus taxes.

Privatisation of Air India not on cards: aviation minister

 There are no plans to privatise the loss-making national carrier Air India (AI), aviation minister Ashok Gajapati Raju told the Parliament on Tuesday.

Bharara suffers first defeat in insider trading cases

A Manhattan jury on Tuesday acquitted Rengan Rajaratnam of charges of conspiracy to commit insider trading, handing US attorney Preet Bharara his first defeat in such cases.

French retail giant Carrefour to exit India, shut five wholesale stores

The world's no.2 retailer by sales, which has been operating in India since 2010, will shut its five Indian wholesale stores by the end of September, it said in a statement late on Monday.

Rel Jio to start 4G trials by August; launch likely next year

Mukesh Ambani-led Reliance Jio Infocomm Ltd will start full-fledged trials of 4G services across major cities in India from next month, before its expected launch of commercial service March-April 2015.

Sony likely to spend Rs. 800 crore to boost market share in India

Consumer electronics giant Sony will spend Rs. 800 crore in India this year, up from Rs. 650 crore last year, to boost its sales and distribution network and increase investment on marketing its latest gadgets.

Trai ups minimum speed for broadband to 512 kbps

Telecom sector regulator Trai has notified that the minimum broadband speed has been raised to 512 kilo bits per second (kbps) from the earlier 256 kbps.

Piramal buys roads in bet on infrastructure recovery

The Indian conglomerate headed by billionaire Ajay Piramal is hunting for road projects put up for sale by stressed developers, betting a change of government will stimulate growth and revive an infrastructure sector plagued with delays.

Even Rangarajan couldn't bring India's poor to BRICS standard

India's national poverty line continues to be the lowest among the BRICS countries, even after the upward revision recommended by the panel headed by former RBI governor C Rangarajan.

Sensex ends above 26,000, Nifty hits new high on budget hopes

The benchmark Sensex crossed the 26,000-mark for first time in its history and extended gains for the second consecutive day on Monday surging 138 points on positive hopes from Modi government's maiden Budget on Thursday.
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