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HindustanTimes Thu,31 Jul 2014

Business

Indian airline companies headed for $1.4 bn loss in 2014-15: CAPA

Indian airlines are headed for another large loss in 2014-2015 with risks peaking for some carriers, a report by aviation consultancy firm Centre for Asia Pacific Aviation (Capa) has said.

Innovation to be key in Infosys’ strategy, says Vishal Sikka

Innovation and building new solutions to meet cuastomer needs will be centre to Infosys’ strategy, said Vishal Sikka, who is set to take over as the CEO and MD of the software services firm on Friday. The new leadership team will  broadly stick to the plan put in place by founders, he added.

Govt rules out any tax amnesty scheme; vows re-look at GAAR

The government on Wednesday said it will not come up with any tax amnesty scheme to unearth black money as it acts as a disincentive to honest tax payers.

Third try? S Africa’s MTN in talks to buy Tata’s telecom arms

South Africa’s largest telecom operator, MTN, is looking to foray into the Indian market again, this time by acquiring Tata Teleservices and Tata Maharashtra Ltd, sources with said.

A billion dollar bet: Seven reasons why Flipkart is hot in the market

It is not really a coincidence when Amazon.com announces that it would invest $2 billion (Rs 12,000 crore) in India exactly a day after Flipkart announces it has raised a record $1 billion in the latest round of funding. Read: Amazon to invest $2 billion more in India

BlackBerry to acquire German security solutions firm

BlackBerry will acquire German security solutions firm Secusmart GmbH as part of its efforts to ramp up enterprise service offerings. Secusmart provides anti-eavesdropping solutions, among other things, for government organisations.

Gold falls 0.11% on weak global cues

Tracking weak trend overseas, gold futures fell 0.11% to Rs. 27,835 per 10 grams on Wednesday as speculators reduced their exposures amidst a weak global trend.

$1 billion in its war chest: What Flipkart can learn from Alibaba

India's internet retailing sector grew 20% last year by value, according to Euromonitor International. Yet it's hard to see any single player in India emerging with Alibaba-like market share. Amazon says to invest $2 bn more in India, a day after Flipkart $1bn funding

Amazon lines up $2 billion for expansion in India

Amazon, which launched its India operations in June last year, has been making a big push into the country’s rapidly-growing online retail market. Even though a late entrant, the company has big plans for India.

Sensex down 61 points in early trade; L&T plunges 7.98%

The benchmark BSE Sensex fell over 61 points in early trade on Wednesday on selling by funds and retail investors ahead of monthly expiry in the derivatives segment amidst lower-than expected corporate earnings by some firms.

Rupee rises 7 paise versus USD to end at over 2-week high of 60.06

In line with the recovery in local equities, the Indian rupee washed out early losses on Wednesday and closed up by seven paise at over two-week high of 60.06 against the greenback.

Piramal, Dutch APG tie up for $1 bln infra investment

India's Piramal Enterprises Ltd has tied up with Dutch pension fund APG Asset Management to invest in rupee-denominated mezzanine instruments issued by Indian infrastructure companies, the two sides said on Wednesday.

Japan June output falls at fastest pace since March 2011 quake

Japan's June industrial output fell at the fastest rate since the devastating earthquake and tsunami in March 2011 as companies slowed production to offset a build-up in inventories, official data showed on Wednesday, clouding the outlook for the economy.

Facebook to shut down Gifts service in latest e-commerce shift

Facebook Inc will shut its 2-year-old Gifts shop on Aug. 12, as the world's largest social network tests other ways to let consumers buy products on its website.

World Cup effect: Twitter shares soar 35%, active users up by 24%

Twitter Inc halted a slowdown in user-growth in the second quarter with the help of product tweaks and services built around the World Cup, assuaging concerns for now that the online messaging service had peaked.
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