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HindustanTimes Thu,18 Sep 2014

Business

Indigo inks $2.6 bn leasing deal with Chinese bank

Budget passenger carrier IndiGo has signed a $2.6 billion finance and leasing agreement with the Industrial and Commercial Bank of China under which the latter will finance more than 30 new aircraft, it was announced here on Wednesday.

China to set up industrial parks in Maharashtra and Gujarat

China will set up two industrial parks in India, in Maharashtra and Gujarat, at an investment of $6.8 billion (Rs 40,800 crore).  The two countries signed an agreement for the first park, to be set up near Baroda, on Wednesday.

Indian-Chinese companies sign 24 MoUs worth $3.4 billion

India and China business received a $3.4 billion boost, with companies from both countries on Wednesday signing 24 contracts for supply of equipment and service. The MoU were signed in areas of aircraft leasing and financing, telecom, chemicals, wind power components, cotton yarn and fabric, synthetic fibre and seafood.

Sony forecasts $2 billion loss, cites weak mobile

The Japanese electronics and entertainment conglomerate said on Wednesday it anticipates a net loss of 230 billion yen ($2.15 billion) for the fiscal year that ends March 31, 2015. Its previous forecast was for a 50 billion yen ($466 million) net loss.

Sensex rebounds over 138 points on hopes Fed will retain low rates

Snapping a two-day downtrend, the benchmark Sensex Wednesday rose over 138 points on the back of gains in IT, power and auto scrips amid positive global sentiments on hopes Fed would keep interest rates low for now.

Rupee gains 9 paise against dollar in early trade

The rupee appreciated by nine paise to 60.96 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased selling of the American currency by exporters and banks.

ED, CBI disagree over letting 2G accused go abroad

The Enforcement Directorate (ED) and CBI are at odds over whether to allow two people, accused in 2G spectrum allocation, to travel abroad.

Sensex, Nifty fall most in 7 weeks ahead of US Fed policy meet

In their worst single-day drop in nearly 7 weeks, Sensex on Tuesday plunged 324 points and Nifty tanked 109 points on across-the-board selling on caution ahead of the outcome US Federal Reserve's monetary policy meeting.

Rs 25,000 crore branded foods held up at ports

From Swiss chocolates to premium whiskies, from canola oil to non-alcoholic beverages — food products worth Rs. 25,000 crore are stuck in India’s various ports or being re-exported because of arbitrary regulatory scrutiny.

Android One set to force Samsung into price war

With Google throwing its tech might behind Micromax, Karbonn and Spice, while introducing the Android One OS, South Korean giant Samsung, which was conspicuously absent, may now have to enter into a price war at the bottom of the smartphone pyramid.

Rajan warns on excessive FII inflows

Reserve Bank of India governor Raghuram Rajan on Tuesday cautioned over reliance on overseas fund inflows and said that caps on foreign institutional investors’ investments in debt should be continued.

Croma, Snapdeal.com tie-up to sell electronic goods online

Tata Group-promoted Infiniti Retail, which runs consumer durables chain Croma, have entered into a strategic partnership with e-commerce firm Snapdeal.com, where Croma will open its brand store on Snapdeal’s marketplace to tap more customers.

Norms for fresh bank licences by March: RBI

The Reserve Bank of India (RBI) on Tuesday said it will issue final guidelines for on-tap universal banking licences before the end of 2014-15.

India can become major export hub by 2030: HSBC

India has the potential to become the world’s fifth-largest exporter of goods by 2030 with the textile industry set to regain its place as the global garment hub, an HSBC report said.

Govt to decide on diesel deregulation after state polls

The local prices of the fuel are currently higher than the global rates, making a case for a cut in retail prices.This is for the first time this has happened,  due to a sustained monthly rise in local prices since January 2013.
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