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HindustanTimes Sat,29 Nov 2014

Business

Xiaomi plans to set up e-com platform in India

Chinese smartphone maker Xiaomi plans to set up its own e-commerce platform in India to sell its devices and accessories and is also looking at possibilities to assemble phones here in the future.

Rupee weakens 3 paise vs dollar to end at 61.87, snaps 2-day rise

In dull trade, Indian rupee on Thursday snapped its two-day rise and fell back by three paise to end at 61.87 against the Greenback on month-end dollar demand from importers.

Fag-end buying in select bluechips lifts Sensex by 53 points

Rising for the second day, benchmark Sensex on Thursday closed up by 53 points at 28,438.91 and the Nifty rose over 18 points to settle at 8,494.20 on fag-end buying in select bluechips, amid expiry of monthly derivative contracts.

Trinamool slams SBI's $1-bn loan to Adani group

Party MP Derek O'Brien raises matter in Rajya Sabha, claims five international banks had refused to fund the mining project in Queensland.

Black Friday deals today: How to be a smart online shopper

It's the big date you just cannot afford to forget. And you don't have to be a hardcore shopaholic to feel that adrenaline rush. The annual shopping extravaganza, called Black Friday, promises some of the most outlandishly cheap deals the click of a mouse.

OPEC holds oil output level, triggering price collapse

Gulf oil producers led by Saudi Arabia on Thursday won the case for keeping OPEC output unchanged, overriding calls from poorer members of the exporters' group for action to halt a slide in crude prices.

WTO clinches first global trade deal in its history: easier customs rules

Ending months of deadlock, the World Trade Organization on Thursday ratified a global deal to ease customs rules, making it the first agreement in the multi-lateral trade body’s history.

London financier Hohn ordered to pay wife $530 million in divorce case

Billionaire hedge fund manager Chris Hohn has been ordered to pay his estranged wife Jamie Cooper-Hohn 337 million pounds ($530 million) in one of the largest divorce settlements in British legal history, the BBC reported on Thursday.

Telcos, supermarket chains, bigbiz can start payments banks

The Reserve bank of India on Thursday defined fresh rules that will allow a host of new businesses such as mobile phone companies, super-market chains and pre-payment card issuers to set up specialised banks offering limited financial services.

Part of pension money may have to be invested in robust infra funds

In a move that could boost the fund-starved infrastructure sector, the government is examining the possibility of making it mandatory for a portion of pension or retirement monies accumulated under the pension regulatory body to be invested in infrastructure projects with AA ratings.

Banking correspondents to take‘Swachh Bharat’ to hinterland

The government is set to use the services of over 250,000 banking correspondents of public sector banks to spread the message of the ‘Swachh Bharat’ campaign, kickstarted by Prime Minister Narendra Modi, in the hinterland.

Ikea to double merchandise sourcing from India by 2020

Seeking to take benefits from ‘Make in India’ campaign, furniture giant IKEA is all set to have fresh tie-ups with small and medium enterprises, to help the company double the merchandise it sources in India by 2020.

Nippon to up Reliance MF stake to 49%; Rs. 657 cr for first 9%

Japanese financial services giant Nippon will hike its stake in India's top fund house Reliance Mutual Fund from 26% to 49%, while investing Rs. 657 crore for the first tranche of 9%.

RBI sets up mkt intel units to fight ponzis

In a move geared to combat shadow banking through increased vigilance and intelligence gathering, the Reserve Bank of India in a recent organisational revamp, has set up market intelligence units across 16 out of 19 regional offices across the country.

E-governance in 2.5 lakh villages by March 2016

Governance services offered over digital platforms will become operational across 250,000 gram panchayats (village councils) by March 2016 as the National Optical Fibre Network project is slated to be completed by then.
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