Bangladesh reaches out to neighbours

Ahead of summit level talks with India next month, Bangladesh has sought to reach out to its neighbors by stressing on the importance of a timetable to resolve its maritime issues with India and Myanmar and on its relations with China. view more business news.

Iraq poised to transform oil market in next decade

Political and security issues in war-torn Iraq have been the focus of the world's attention for more than six years. Now, the country's oil reserves are doing the talking. After a string of recent deals between the Iraqi government and foreign oil majors, experts believe that Iraqi oil will transform the global oil market over the course of the next decade. view more news.

Out of boom and bust in Dubai

Dubai was the glitz, the glamour and the good life for many. The buildings were the fanciest, newest and tallest. The emirate had little water, but the champagne flowed freely. view more business news.

Bolivia asks Jindal to honour $2.1 bn investment pledge

Bolivia has called on India's Jindal Steel and Power Limited to honour its pledge to invest $2.1 billion in an iron ore joint venture project in the country.... view more business news.

Food inflation rises to 19.83 percent

India's annual food inflation based on wholesale prices rose to 19.83 percent for the week ended Dec 19 from 18.65 percent the week before as prices of essential commodities continued to rule high. checkout full news.

Recovery of industry will vary sectorwise in 2010: ASSOCHAM

Recovery from the the brunt of the economic slowdown will not be similar for all industrial sectors in 2010. While FMGC, healthcare and education will trot along towards recovery, the momentum will be slower for capital goods, banking industry and real estate, says an analysis of a leading industry body. view more business news..

US takes majority stake in GM's former financing arm GMAC

The US government will loan another $3.8 billion to car financier GMAC, a former subsidiary of General Motors, and will take a controlling stake of 56 percent, the Treasury Department said Wednesday. read more business news.

Google to launch smart phone on Tuesday

Apple's iPhones will have a big competition on their hands as Google is set to launch its much discussed smart phone next week. checkout full article.

$10.5 bn needed to guarantee drinking water: Brazilian agency

Brazil must invest some $10.5 billion in production and distribution systems for potable water by the year 2015 to guarantee this service to its population, a government agency has reported. view complete news..

Massive November car sales in India

Passenger car sales for November rose 61 percent in India and nearly doubled in China in a sign that Asia is increasingly driving the global car industry, the Financial Times reported Wednesday. read more news..

Australian state shelves project to export coal to India

Australia's Victoria state has canned its plan to allow mining and export of coal to India, a media report said.

Three months after plans to allow Melbourne-based Exergen to launch a $1.5 billion coal export scheme were revealed, Energy Minister Peter Batchelor has now ruled it out, The Age reported Thursday. read more news at - SME Times

Kerala to import sand to tackle construction crisis

The Kerala government Wednesday asked state agencies and builders to import construction sand from outside to overcome shortages and address environmental concerns. read more news..

Railways agrees in principle to set up factory in Singur

The railways Wednesday in principle agreed to set up a coach factory on the land abandoned by Tata Motors in Singur, and asked the West Bengal government to furnish all details about the plot. view complete news..

RBI concerned over food price inflation

Reserve Bank of India (RBI) Governor D. Subba Rao Wednesday expressed concern over the food price inflation in the country, saying that it could fuel "inflationary expectations". view complete news..

Food inflation ups further to 19 percent

There was no respite from galloping grocery bills as the country's annual food inflation, based on wholesale prices, upped further to 19.05 percent for the week ended Nov 28 from 17.47 percent the week before, as per official data released Thursday. view complete news..

Micro-credit programmes beat global meltdown: Economis

Microcredit programmes were able to weather the global meltdown as compared to the big conventional banks that were on the verge of collapse, Nobel laureate and noted economist Muhammad Yunus said in New Delhi Wednesday. read more news..

Boost SMEs to help India surpass China in manufacturing

India can emerge as a more attractive global production hub for consumer durable products than China if the government develops SMEs by promoting cluster development, provide tax sops and build large multi- product special economic zones, says a recent study. view full news..

Govt to import duty-free silk yarn from China

The government is in the process of importing duty-free silk from China and distribute it to weavers through an official agency to ease silk imports for weavers, especially SMEs engaged in the sector, from China, Textiles Minister Dayanidhi Maran said on Wednesday. read more news..

Exports to grow 15 percent next fiscal: Anand Sharma

Exports is to grow by 15 percent next fiscal and the pace of decline has already been arrested, Commerce Minister Anand Sharma said Wednesday in the Rajya Sabha. view complete news..

US settles massive lawsuit with Native Americans

The US Tuesday agreed to pay $3.4 billion to settle a long-running lawsuit brought by some 300,000 Native Americans who claimed they had been cheated out of land revenue for more than a century. view complete news..

Brazil to seek bids for high-speed rail line

The Brazilian government will soon open the bidding process to build a high-speed train line that will link Sao Paulo and Rio de Janeiro, authorities said. read more news..

US markets drop on global credit worries

Moody's Investor Service downgraded its credit rating for a series of companies controlled by Dubai's government, which is in trouble after state-owned Dubai World last month asked to postpone payments on a $60-billion debt. view full news..

Bangladesh bans raw jute exports

Bangladesh Tuesday slapped an export ban on raw jute to ensure smooth supply of the natural fibre for its local mills as the South Asian country predicted dwindling jute production this year. read more news..

Climate summit veers towards emerging economies

After a day of turmoil and a night of fence-building, the majority of 192 countries attending the Dec 7-18 climate summit Wednesday started to discuss an agreement drafted by India and other emerging economies to save the world from the worst effects of climate change. view complete news..

Mercedes-Benz hopes sales to grow in India

Luxury car maker Mercedes-Benz is expecting higher sales in the Indian market in the second half of the current fiscal as the overall market conditions are fast improving, a senior official said Tuesday. read more business news..

Hearing on Reliance gas dispute cancelled for Wednesday

The hearing on the high-profile Krishna-Godavari gas dispute between Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL) was cancelled Wednesday, as Chief Justice K.G. Balakrishnan was indisposed. view complete news..

West Bengal welcomes railway coach factory in Singur

West Bengal's Left Front government Tuesday sent a letter to the railway ministry asking it to set up an industry on the plot of land abandoned by Tata Motors in Singur, and promised to cooperate with the project. view complete news..

Delhi body to aid industries

The Delhi government has set up a Business Facilitation Council to facilitate entrepreneurs to obtain clearances from various departments to set up enterprises in a time bound manner. view complete news..

Car sales rise 22 percent, two-wheelers up 17 percent

Passenger car-sales in the domestic market soared 22.06 percent in the first eight months this fiscal while two wheeler-sales jumped 17.63 percent, according to the Society of Indian Automobile Manufacturers (SIAM). view complete news..

Volkswagen picks up Suzuki stake for $2.5 bn

German auto giant Volkswagen Wednesday picked up a 20 percent stake in Suzuki Motor for about $2.5 billion, while the Japanese auto maker will reciprocate by taking up equity worth half of the proceeds in the European firm. view complete news..

Rs.7 cr siphoned off from rural jobs scheme

Only Rs. 7 crore has been siphoned off from a flagship rural jobs scheme, the government informed parliament Tuesday, denying that 40 percent of its outlay had found its way into the wrong hands. view complete news..

Railways' revenue up 8.74 percent

Indian Railways' earnings jumped 8.74 percent in the first eight months this fiscal to Rs.55,586.69 crore ($12 billion) as compared with Rs.51,117.55 crore in the like period last year. view complete news..

India, Sudan ink deal on expanding energy ties

India and Sudan signed an agreement on expanding ties in the oil and gas sector on the last day of a two-day India-Africa Hydrocarbon conference Tuesday. view complete news..

OVL signs deal with Russian firm in oil and gas sector

ONGC Videsh Ltd (OVL) has entered into an agreement with Russian group Sistema for cooperation in exploration and studying oil and gas assets in Russia and third countries. view complete news..

Doha Round: India won't compromise rights of developing world

India, which has taken the lead in re-energising the Doha Round of World Trade Organisation (WTO) talks, will ensure that the rights of the developing and poor nations are not compromised, the Rajya Sabha was told Tuesday. read more news..

Set up a special coal trading co: ASSOCHAM

Industry body ASSOCHAM Tuesday suggested to the government to set up a coal trading company to import the dry fuel to bridge the demand-supply gap. view complete news..

FICCI seeks more fiscal sops to prop up economy

Industry body FICCI Tuesday sought more fiscal sops in the 2010-11 budget and asked the government not to withdraw stimulus packages as the economic recovery is still at a budding stage. view complete news..

Khadi bucks slowdown, exports doubled

The government on Tuesday said exports of khadi and village industries products almost doubled to Rs 104.84 crore in the last fiscal from Rs 53.73 crore in 2006-07. view complete news article..

Textile industry panicking unnecessarily on cotton export: Maran

The textile industry is unnecessarily panicking over the issue of banning raw cotton exports, Union Minister of Textiles, Thiru. Dayanidhi Maran told SME Times on the sidelines of Handicraft Week at Dilli Haat in New Delhi today. view full news..

Young entrepreneurs need to prepare a viable project: Anwar Ali

Young entrepreneurs need to prepare a viable project to become a successful business leader, Director of IMT Ghaziabad, Dr. Anwar Ali said in an exclusive e-mail interview to SME Times.

Excerpts of the interview...

How do you see the hunger of becoming an entrepreneur amongst the youth nowadays?
Dr. Anwar Ali: I think that the hunger is very much there and it is growing. The number of students, getting enrolled in our e-cell (Entrepreneurship Cell) has been growing every year. The ideas they are coming up with these days are also improving and one can see much thought is being given before an entrepreneur decides on what he/ she wants to do. This itself indicates that they are taking it as a serious opportunity and probably thinking of that as a career from the very beginning.


READ FULL INTERVIEW AT - SME TIMES

Nearly one in five Hong Kong firms to recruit as economy rallies

Nearly one in five Hong Kong companies plan to take on new staff as the city's economy recovers strongly from the downturn, a survey found Tuesday. view complete news..

Chavez announces creation of new state bank

Venezuelan President Hugo Chavez has announced the creation of a new state bank from the merger of four of the seven small private financial institutions closed this week for irregularities. view complete news..

Cheaper bank bail-outs lead Obama to weigh job spending

US President Barack Obama is mulling whether to inject more public funds into the struggling jobs market in the US, taking advantage of the less-than-expected cost of financial bail-outs over the past year. view complete news..

US stocks fall on Federal Reserve chief's warnings

Most major US stock indices fell slightly Monday as Federal Reserve Chairman Ben Bernanke warned of "formidable headwinds" to the country's economic recovery. view complete news..

Toronto to host G20 summit in June

Toronto will play host to the next G20 summit in June, a statement by the Canadian prime minister's office has said.

World leaders will gather in Canada's biggest city June 26 and 27 to hold talks on economic recovery, the statement said Monday. read more news..

Japan unveils fresh stimulus package

Japan Tuesday unveiled a fresh stimulus package worth 7.2 trillion yen ($81 billion) Tuesday to spur the world's second-largest economy facing deflation and a rising yen. read more news..

Industry 'well positioned' to cut down carbon emission: CII

India industry is 'well-positioned' to deliver on the 20-25% emission intensity reduction, a leading industry body said Monday hailing the government's decision on emission intensity reduction plan. view complete news..

Godrej Properties plans residential project near Chennai

Mumbai real estate developer Godrej Properties Monday said it will jointly develop a mid-market residential project near here in association with the city-based cutting manufacturer Addison. view complete news..

NDTV sells majority stake in subsidiary to Turner

Media house New Delhi Television (NDTV) Tuesday said it has sold 76 percent of its indirect stake in subsidiary NDTV Imagine to global news and entertainment major Turner for $117 million. read more news..

L&T bags Rs.844 cr order from Nuclear Power Corp

Construction and engineering major Larsen and Toubro (L&T) has bagged a contract worth Rs.844 crore from the state-run Nuclear Power Corp of India Ltd (NPCIL), the company said Tuesday. view complete news..

Mallya ties up with Dutch brewer Heineken in India

Liquor baron and chairman of UB Group Vijay Mallya on Monday entered into a strategic alliance with leading Dutch brewer Heineken NV to distribute its beer in India. view complete news..

India Inc will step up hiring next quarter

India Inc is all set to step up hiring in the last quarter this fiscal as employers are more optimistic than their counterparts in other nations, said an industry survey released on Tuesday. check out full article.

India could be Africa's rail partner: World Bank

Indian Railways, one of the world's largest rail networks, could be expanded to develop transport infrastructure in Africa and other developing regions under an ambitious World Bank plan, a newspaper reported. view complete news..

Govt earned Rs.8,300 crore from telecom firms

The government earned Rs.8,307.85 crore from mobile telecom operators through licence fee in 2008-09 and Rs.4,112.3 crore in the first half this fiscal, a union minister said Monday. view complete news..

No plans to import rice immediately: Govt

"The government has assessed the stock position of rice and decided that import of rice for the central pool is not required at this stage," Minister of State for Commerce and Industry Jyotiraditya Scindia told the Lok Sabha. view complete news..

Trade between India, Ontario to accelarate: Canadian minister

India and the Canadian province Ontario currently share USD 5 billion trade which is likely to increase by leaps and bounds in the future, the Minister of Economic Development and Trade, Ontario, Sandra Pupatello said on Monday. view compete news..

Indo-US N-deal will have long-term benefits

"Nuclear Energy is inevitable option to satisfy India’s future energy need," stated Dr R Chidambaram, Principal Scientific Adviser to the PM while addressing the members of the CII – USIBC (US India Business Council) Task Force on Commercial Nuclear Cooperation organized on the occasion of the visit of sixty member Commercial delegation to India under auspices of by USIBC. view complete news..

India, Russia sign $100 million credit line pact

India and Russia Monday signed a $100 million credit line agreement and set a target of $20 billion by 2015 to strengthen bilateral trade. view complete news..

Exports to Latin America, Africa cross $20 bn

India's exports to the Latin American and African region stood at $20.58 billion last fiscal, Minister of State for Commerce and Industry Jyotiraditya Scindia said Monday. view complete news..

Retail sector to be $410-bn by fiscal-end: ASSOCHAM

The Indian retail market is expected to reach $410 billion by the end of the current fiscal, according to the Associated Chambers of Commerce and Industry of India (ASSOCHAM). view complete news..

Govt moots assistance for paper industry, extend TUF

The government will extend the Technology Upgradation Fund (TUF) to the paper industry, according to a senior official in the Department of Industrial Promotion and Policy. view complete news..

Comfortable with current oil prices: Nigeria

Nigeria is comfortable with the current prices of international crude, according to its key advisor on energy Emmanuel Egbogah.

"Oil prices are good," said Egbogah on the sidelines of the second India-Africa conference on hydrocarbons in New Delhi on Monday. view compete news..

South Korea to ban single-hulled tankers' entry

South Korea will ban the entry of oil tankers having only one hull in its vessels from 2011 as part of its efforts to prevent oil spills and other maritime disasters, an official said Sunday. view complete news..

Arelor Mittal could make 1 bn pounds from climate change: Report

Arcelor Mittal, the steel giant headed by Indian billionaire Lakshmi Mittal, stands to gain around a billion pounds from a European scheme aimed at curbing global warming, a newspaper reported Sunday. view complete news..

India's high growth offset by rising food inflation

The Indian economy's 7.9 percent growth in the second quarter of this fiscal has taken everyone by surprise, but rising food inflation, which has seen the daily grocery bill shoot up sharply, has dampened some of the euphoria. view complete news..

Tripura to set up industrial training institutes

The Tripura government will set up 25 more industrial training institutes (ITIs) in the state to provide career-oriented training to jobless youth, Industries and Commerce Minister Jitendra Chowdhury said Monday. view complete news..

How humble paan has taken on mighty steel in Orissa

It is a simple, spade-shaped, green leaf that stands between the South Korean steel giant POSCO and its ambitions of carrying out a $12 billion mega-project in this sleepy cluster of villages in coastal Orissa. view complete news..

Indian company in Ethiopia for bio-fuel production

Indian renewable energy company Praj has signed an agreement with Ethiopia's Eco Energy, a bio-fuel producing company, for providing consultancy in cultivating thousands of hectares for generating bio-fuels. view complete news..

ABB bags Rs.506-cr order from Bangalore Metro

Leading power and automation technology group ABB Monday said it has won an order worth Rs.506 crore from Bangalore Metro Rail Corp to provide power solutions for the city's proposed metro network. view complete news..

GVK picks L&T stake in Bangalore airport for Rs.686 cr

Leading infrastructure developer GVK Power and Infrastructure has acquired 17 percent in Bangalore International Airport Ltd (BIAL) from Larson and Toubro (L&T) for Rs.686 crore (Rs.6.86 billion), the company said Sunday. view complete news..

Entertainment and media industry to grow 11 pc annually

The Indian entertainment and media industry is estimated to grow 11 percent annually to touch Rs.93,200 crore (Rs.932 billion/$18.6 billion) by 2013, a report released on Sunday said. read more news..

Canadian province premier on 'green mission' to India

Dalton McGuinty, premier of Canada's Ontario province, Saturday left for India on a week-long trade mission to sell green technology to the energy-starved country. view complete news..

Kashmir traders pay more tax this fiscal

Traders in Kashmir, who had paid less than Rs.1.9 crore as income-tax in 2008-2009, have already coughed up more than 10 times this fiscal, according to a senior state government official. view complete news..

India, Brazil, China have 'basic draft' on climate change: Jairam

Three growing powers - India, China and Brazil - have a basic framework in place for negotiating cuts in greenhouse gas emissions during the UN Climate Change Conference in Copenhagen, Minister of State for Environment and Forests Jairam Ramesh said Monday. view complete news..

India to add 220 million to workforce by 2030: RBI

"Their absorption into the job market will pose a daunting challenge to policy makers as they try to align the forces of globalisation with the overarching objective of inclusive growth," Gokarn said while addressing a forum of chief executives from the Asia Pacific region. view complete news..

India eyeing oil production opportunities in Africa

India is looking to participate in "exploration and production opportunity" in Africa and to be a part of the continent's natural gas market, Petroluem Minister Murli Deora said Monday. view complete news..

Russia, India could reach $10 bn annual trade in 2010: Kremlin

Russia and India could reach an annual trade of $10 billion in 2010, the Kremlin has said.

Indian Prime Minister Manmohan Singh is in Russia on a three-day official visit on an invitation from Russian President Dmitry Medvedev. They held informal talks Sunday and are to hold full-scale talks in the Kremlin Monday. view complete news..

Digitise land records, ease acquisition norms: CII

The proposed Land Acquisition (Amendment) Bill, slated to be introduced in parliament this winter, needs to include provisions for easing land acquisition norms and digitising land records, according to an industry lobby report. view complete news..

States should compete to promote tourism: Kumari Selja

Tourism Minister Kumari Selja believes state governments should "wake up" and compete among themselves "aggressively" abroad to promote tourism in India. And the middle class tourist is high on her list. view complete news..

India, Russia to sign umbrella n-deal today; PM in Moscow

India and Russia will sign today an umbrella agreement for expanding civil nuclear cooperation that will give New Delhi the right to reprocess spent fuel, taking the pact "far beyond the 123 agreement" inked with the US, official sources said on Sunday. view complete news..

Recession a learning experience for Indian entrepreneurs: Experts

The recent global downturn, which also struck the Indian economy adversely, has resulted in dwindling economic conditions, tight monetary policies, low demand, high price inflation, retrenchments, etc. read more news..

Gems and jewellery exports dip 8 percent in Oct

The surge in the gold prices adversely affected gems and jewellery exports in October, which fell 8 percent to $2.11 billion (Rs 9,878 crore) compared to the same period last year.

India's gems and jewellery exports in October last year, when the global financial meltdown was at its peak, were at $2.29 billion. view complete news..

Tata Corus to axe 1,700 jobs and mothball British plant

Corus, the European arm of Tata Steel, said Friday it will cut 1,700 jobs and partially close a plant in Britain's Teesside region in the new year. view complete news..

US stocks rise on surprising jobs figures

Major US stock indices and the dollar were pushed higher Friday after government figures indicated a sharp decline in the pace of job losses in the United States. view complete news..

Alcohol, traders drive Chhattisgarh's illegal diamond mining

The craving for liquor among impoverished tribals and middlemen with bundles of currency notes to oblige them have ensured that illegal diamond mining continues unabated in Chhattisgarh's Raipur district. view complete news..

CII, Kerala to host IT industry conference

The Confederation of Indian Industry (CII) and the Kerala government will jointly organise a two-day information technology conference near Thiruvananthapuram starting Dec 10 to deliberate on India's role in the global IT industry. read more news..

Himachal gives show-cause notice to Ford's Ski Village project

The Himachal Pradesh government Friday decided to issue a show cause notice to Ford Motor Company that is executing a multi-billion dollar Ski Village project in Manali for not fulfilling mandatory requirements, an official said in Shimla. view complete news..

United Bank IPO to hit market by February

State-run United Bank of India (UBI) on Friday received the central government's nod for its maiden initial public offering (IPO), which will be launched by the first week of February next year. read more news..

Maran lays foundation stone of ATDC at Chhindwara

Thiru. Dayanidhi Maran, Minister of Textiles has laid the foundation stone of Apparel Training and Design Centre (ATDC) at Chhindwara, in Madhya Pradesh on Friday in the presence of Kamal Nath, Minister of Road Transport and Highways. read more news..

Mizoram govt employees to get pay hike

Mizoram Chief Minister Lalthanhawla announced that the government will implement the recommendations of the Sixth Pay Commission (SPC) for its 50,000 employees with retrospective effect from January 2006. view complete news..

Haryana seeks quick sanction of nuclear power plant

With a high-level delegation of the Nuclear Power Corporation (NPC) of India, concluding its visit to Haryana Friday, Chief Minister Bhupinder Singh Hooda has urged it for fast-tracking 2,800 (4x700) MW nuclear power plant so that it could be set up in the state soon. read more news..

Salboni thermal power plant's construction to begin mid-2010

JSW Energy, a part of the Sajjan Jindal-led JSW Group, will begin construction of the 1,600 MW thermal power plant in West Bengal's Salboni by the middle of next year, a company official said in Kolkata on Friday. view complete news..

$1-bn World Bank loan sought for urban development

India has approached the World Bank for a $1-billion loan to fund urban development projects, Minister of State for Urban Development Saugata Roy told the Lok Sabha Friday. view complete news..

PM welcomes progress on 3G auctions

Prime Minister Manmohan Singh Friday said he was happy that the process to auction third generation (3G) spectrum was on track after the defence ministry agreed to vacate 10 MHz of radio waves held by the armed forces. view complete news..

Indian markets brush aside Dubai fears, Sensex up 3 percent

Indian investors brushed aside fears of a global financial crisis in the wake of the Dubai World debt debacle. Key benchmark indices added nearly 3 percent from their last weekly close. view complete news..

Public Private Partnership to promote tourism

The Ministry of Tourism has a scheme of Assistance for Large Revenue Generating Projects under which Public-Private Partnership projects are eligible for assistance, Minister of Tourism, Kumari Selja informed the Lok Sabha on Friday. view complete news..

Increasing coir fibre exports hit domestic production

Supply of coir fibre by the production centres in Tamil Nadu to Kerala has come down as coir fibre is being increasingly exported, informed Dinsha Patel, Minister of State (Independent Charge) for Micro, Small and Medium Enterprises in a written reply to a question in the Rajya Sabha on Friday. read more news..

KVIC to employ 145 lakh in 11th five year plan: Minister

Dinsha Patel, Minister of State (Independent Charge) for Micro, Small and Medium Enterprises (MSME) has estimated that Khadi and Village Industries Commission (KVIC) could provide employment to 145 lakh people (15 lakh in khadi and 130 lakh in village industry) in the KVI sector by the end of Eleventh Five Year Plan. view complete news..

UP gets Rs.1,400-cr investments in MSME sector

Uttar Pradesh received investments worth Rs.1,400 crore in the micro, small and medium enterprise (MSME) sector in 2009, a government official said in Lucknow on Friday. view complete news..

Foreign investment inflow to fall this fiscal: Anand Sharma

Foreign Direct Investment (FDI) into the country increased by over 56 percent to USD 2.3 billion in October, Commerce and Industry Minister Anand Sharma said on Friday. view complete news..

Record tax cheats in Canada disclose off-shore accounts

In a nation which has one of the highest tax compliance rates in the world, as many as 6,798 rich Canadians have disclosed stashed-away assets worth $1.66 billion on which they have not paid taxes. This is twice the number of those who came forward to disclose their hidden assets last year, said Canadian Revenue Minister Jean-Pierre Blackburn Thursday. view complete news..

Venezuela to nationalise two troubled banks

Venezuelan President Hugo Chavez has announced plans to nationalise two small banks recently shuttered for "irregularities", saying their doors will definitely reopen "before Dec 24". read more news..

European Central Bank predicts economic recovery

The European Central Bank (ECB) predicted Thursday a bigger pickup in the euro zone economy next year than expected, but left interest rates unchanged at the current record low. read more news..

South Asian SMEs: Explore trade through JV

SMEs, which play a crucial role in the overall development of South Asian economies, face significant challenges for survival and growth in an uncertain environment. SMEs in SAARC region always search for avenues which would help them to expand their business in this situation of subdued demand. view complete news..

Jaypee launches residential project

Jaypee Greens, a division of diversified infrastructure and industrial group Jaiprakash Associates, Thursday announced the launch of a residential project at the Jaypee Greens Sports City in Gautam Budh Nagar near in New Delhi. view complete news..

Kingfisher, Jet lead dues pack: Minister

Kingfisher, Jet Airways and SpiceJet lead the pack of private domestic airlines that have not cleared their dues to the airports operator, Airports Authority of India (AAI), Civil Aviation Minister Praful Patel told the Lok Sabha Thursday. read full news..

Reliance Media World to be listed today

Reliance Media World, part of the Reliance Anil Dhirubhai Ambani Group, will make its debut at the National Stock Exchange and the Bombay Stock Exchange Friday, the company said in a statement. view complete news..

HCL ties up with Sahara Petroleum

IT services provider HCL Technologies will offer enterprise resource planning solutions to the Middle East-based Sahara Petroleum Services, the company said Thursday. read more news..

Acquisition plans still on hold: Bharti

Telecom giant Bharti Airtel Thursday said its overseas acquisition plans were still on hold.

"There is no change in acquisition plans (as of now)," Bharti Airtel chief executive Manoj Kohli told reporters here on the sidelines of a telecom summit. read more news..

Leaders need winning attitude to achieve business excellence

Leaders need to have a winning attitude to achieve business excellence, said P.Dwarakanath, Director (Group Human Capital), Max India Ltd at a conference on 'Building Excellence through Leadership' organised Thursday by All India Management Association (AIMA) in New Delhi. view complete news..

Govt clears three port projects

Three port projects worth Rs.7,661 crore have been approved by a committee chaired by Finance Secretary Ashok Chawla, the government said Thursday. view complete news..

ISRO earns Rs.1 bn by launching foreign satellites

The Indian Space Research Organisation (ISRO) has earned over Rs.1 billion in the last three years by launching foreign satellites. And much of this has come from Israel and Italy. view full news.

India to grow at 8 percent next fiscal: Goldman Sachs

Investment banker Goldman Sachs Friday said India would post a growth of over 8 percent in 2010-11 and 8.7 percent the following fiscal, thanks to strong domestic demand and greater global liquidity. view full news..

Incredible India campaign to hit domestic market soon

The Incredible India campaign, which showcases major holiday destinations and has won international awards, will now be promoted in the domestic market too. read more news..

Indian missions' commercial wings being improved: Krishna

The government is strengthening the commercial wings of Indian embassies so as to help in improving economic linkages and promote Indian business globally, External Affairs Minister S.M. Krishna told parliament on Thursday. view complete news.

Lithuania the best place to do business

Lithuanian Foreign Minister Vygaudas Usackas, on his first official visit to India, has said that despite being a small and young country, it is the best place for India to do business. read complete news article.

India to cut carbon emission intensity 20-25 pc by 2020

Four days ahead of the Copenhagen climate summit, India on Thursday announced it will reduce its emission intensity by 20-25 percent by 2020 from the 2005 level. view complete news..

PM's US visit renewed commitment to strategic partnership: Envoy

With Prime Minister Manmohan Singh's US visit renewing the two governments' commitment to the India-US strategic partnership, they will work together to advance global stability, security and sustainable development, according to the Indian envoy in Washington. view complete news..

India could grow 8-9 pc in 2 years: World Bank

India's growth rate over the next couple of years could be 8-9 percent, World Bank president Robert Zoellick said in New Delhi on Friday. view complete news..

Air Canada voted best airline in North America

Air Canada has been voted the best airline in North America in an international survey of business travellers by Global Traveler Magazine.The award would not have come at a better time for the national carrier which was almost on the verge of seeking bankruptcy protection a few months ago. view complete news..

Ecuador feels 'ill-treated' in loan talks with China

Ecuadorian President Rafael Correa has said that during the course of negotiations with China to obtain financing for a hydroelectric dam, they "sometimes feel ill-treated". view complete news..

Peugeot in talks to become top Mitsubishi shareholder: Reports

French carmaker PSA Peugeot Citroen is in talks with Mitsubishi Motors Corp to become the company's top shareholder, news reports said Thursday. view complete news..

World economy to bounce back in 2010: UN

Massive and concerted measures from the world's major economies have contributed to a global economic recovery expected next year, the UN said Wednesday.

The UN said in a survey that world economic growth is expected to register a mild 2.4 percent in 2010. But it warned rich countries not to rush to cut back on stimulus packages and to prevent a downfall of the US dollar. view complete news..

Dubai World crisis alarms analysts in China

A Chinese analyst has warned that as the country's "real estate bubble continues to grow in size, a crisis similar to that at Dubai World is likely to take place in China". view complete news..

ONGC to develop gas fields in Iran

The state-run oil explorer Oil and Natural Gas Corp (ONGC) and its partners have signed two agreements with Iranian authorities to develop gas fields in that country.

The agreements were signed during Iranian Deputy Oil Minister Seifollah Jashnsaz's India visit Dec 1. read more news..

Shriram Properties to build 7,300 flats in four cities

Shriram Properties, a leading developer in South India, will build about 7,300 apartments in Bangalore, Chennai, Kolkata and Visakhpatnam over the next 24-30 months. read complete news article..

Tariff war would hit revenues: BSNL

State-run telecom major Bharat Sanchar Nigam Ltd (BSNL) Wednesday said the low tariffs announced by the company following drastic cuts in rates by competitors, will hit its revenues. view complete news..

Ashok Leyland sales jump 103 pc, Bajaj's 73 pc

Commercial vehicle manufacturer Ashok Leyland Wednesday reported a two-fold jump in its November sales.

The auto giant sold 4,695 units last month, up 103.5 percent from 2,307 units it sold in November last year. view complete news..

Dunlop resumes production at Sahaganj after a year

Dunlop India Wednesday resumed the "production process" of its tyres at its Sahaganj unit in West Bengal after more than a year.

"The routine maintenance work was on for the last few months. From today (Wednesday), the production process has started," a Dunlop India spokesman said. view complete news..

Green buildings catching up fast in India

The green building concept is swiftly catching up in the country partly because of government sops and partly because of the marketing strategy of real estate developers to get customers -- and everyone is now busy linking it to climate change. view complete news..

Emaar MGF's offices raided, Koda link alleged

The Enforcement Directorate Thursday raided the offices of realty major Emaar MGF and homes of several board members in and around Delhi in connection with the multi-crore money laundering scam involving former Jharkhand chief minister Madhu Koda. view complete news..

Border trade at Nathu La ends on sluggish note

Trade between India and China through the fabled Silk Road has ended for 2009 after registering business worth Rs.9 million since May.

"Trade between the two countries have closed for this year Monday and would resume from May 1 until Nov 30 next year," an official of Sikkim's Industry and Commerce department said. view complete news..

Waive off debts worth Rs.1.21 bn of Kerala fishermen: Panel

The Kerala State Fishermen Debt Relief Commission has recommended the state government waive outstanding loans of Rs.121 crore (Rs.1.21 billion) of 56,695 fishermen. read more news..

BSNL partners British Telecom for conferencing solutions

State-run telecom operator Bharat Sanchar Nigam Ltd (BSNL) has tied up with Britain's BT Group Plc for offering audio and web conferencing solutions to its customers, the company said Wednesday. view complete news..

Lithuania seeks business tie-ups in India

Lithuanian foreign minister Vygaudas Usackas, who is on his maiden visit to India, is looking at forging strong ties between the two nations, especially in tourism, business and infrastructure. He is scheduled to meet the Indian foreign minister S.M. Krishna Thursday evening. view complete news..

India got $88 bn foreign investment since 2004

India received $88.43 billion (Rs.391,477 crore) as foreign direct investment (FDI) from April 2004 to September this year, Minister of State for Commerce and Industry Jyotiraditya M. Scindia said Wednesday. view complete news..

Imports from China surge 35 percent

Imports from China rose 35 percent to Rs.147,605 crore ($31.8 billion) in 2008-09 from Rs.109,116 crore ($23.5 billion) the previous year, said Minister of State for Commerce and Industry Jyotiraditya M. Scindia Wednesday. view complete news..

Direct tax collection up 3.71 percent

Direct tax collection during the fist eight months this fiscal rose 3.71 percent to Rs.183,822 crore as against Rs.177,251 crore in the like period last year. read more news..

Patel reviews plan schemes of Coir Board

A meeting was held by Dinsha Patel, Minister of State (Independent Charge) for Micro Small and Medium Enterprises to review the working of the Coir Board including the progress of implementation of its Plan Schemes during the current year with the Chairman, Coir Board and officials of the Ministry in New Delhi on Wednesday. view complete news..

Agarbatti declared handicraft product

In the new duty Drawback rates, the Government declared 'Agarbatti' as a handicraft product and has brought the same under the jurisdiction of the Export Promotion Council for Handicrafts (EPCH) from CHEMEXCIL. view complete news..

AEPC cautions govt. to prepare for major job loss

While reviving its demand to control sky rocketing cotton prices, the leading body of apparel exports cautioned the government that its repercussion will come in March 2010 in terms of huge revenue and job loss, said AEPC Chairman on late Wednesday. view complete news..

Divestment not more than 10 percent in state firms: FM

Finance Minister Pranab Mukherjee Tuesday said the government was not seeking to divest more than 10 percent in state-run firms for now, but would do so in three firms by the end of March. view complete news..

Shutdowns may impact investments in West Bengal: ASSOCHAM

Industry body Associated Chambers of Commerce and Industry of India (ASSOCHAM) has expressed apprehension about frequent shutdowns in West Bengal, and warned that such agitations could impact investments in the state. view complete news..

India-Myanmar gas pipeline in few years

Work on the much talked about gas pipeline between India and Myanmar via Bangladesh may take some shape in two to three years, Myanmar Ambassador U. Kyi Thein said in Kolkata on Tuesday. view complete news..

Foreign investment proposals worth Rs.4,550 cr approved

The government has approved 17 foreign investment proposals worth approximately Rs.4,550 crore, it said in New Delhi on Tuesday. view complete news..

South Korea set its carbon reduction target at 30 percent

South Korea said ahead of this month's climate summit in Copenhagen that it faces challenges in meeting its proposed emission target.

Economy Minister Choi Kyung Hwan confirmed Seoul's target of reducing emission of greenhouse gases by 30 percent of the 2020 business-as-usual levels. view complete news..

Spain to see job creation by early 2011: PM

Spanish Prime Minister Jose Luis Rodriguez Zapatero said his government expected the economy to begin creating new jobs in late 2010 or early 2011. read more news..

Bank of Japan to pump more cash to counter deflation

The Bank of Japan said it would inject more cash into the financial system after an emergency meeting the bank called Tuesday to help the government counter deflation. view complete news..

Trade round hangs in balance as ministers wind up WTO talks

The troubled global trade round is hanging in the balance as ministers and officials of the 153-member World Trade Organisation (WTO) gather in Geneva Wednesday for the final day of talks aimed at reviewing the WTO's work. view complete news..

Cos urged to participate in projects funded by ADB

The Asian Development Bank (ADB) has urged Indian service providers to participate in the projects funded by the organization in India and abroad. This was observed during a seminar on 'Business Opportunities with ADB' organized by the Federation of Indian Export Organisations (FIEO) in association with Builders Association of India, Consultancy Centre and Exim Bank of India at New Delhi recently. view complete news..

Govt. taking steps to tap potential of traditional industries

The government has taken several measures to tap the potential of traditional industries, which have great potential in terms of production, export and generation of employment. This was informed by Dinsha Patel, Minister of State (Independent Charge) for Micro, Small and Medium Enterprises in a written reply to a question in the Lok Sabha on Tuesday. view complete news..

Cotton prices skyrocket, TEA sends letter to mill owners

Cotton rates have again shot up by Rs 250-300 per quintal in Punjab and Haryana on account of ongoing export and low yield estimates forcing north-based spinning mills to reduce buying the fibre to replenish their stocks. view complete news..

Trade deficit drops to $57.3 bn on lower imports

The country's merchandise exports fell for the 13th straight month in October to $13.19 billion from $14.13 billion in the corresponding month last fiscal -- a drop of 6.6 percent -- while its imports decreased to $21.9 billion compared to over $25 billion last fiscal, as per data available with the commerce ministry. view complete news..

IMF welcomes UAE's move to keep banks afloat

The International Monetary Fund (IMF) said it welcomed the plan by the central bank of the United Arab Emirates (UAE) to supply liquidity to the country's banks. read more news..

World Bank bars Siemens for fraud in Russian project

The World Bank has banned Limited Liability Company Siemens, a Russian subsidiary of Siemens AG, from participation in the agency's projects for four years. view complete news..

Australia raises interest rates again

The Reserve Bank of Australia (RBA) Tuesday raised interest rates 25 basis points to 3.75 percent to choke off inflationary pressure as the economy gains momentum. view complete news..

Britain the only G20 nation still in recession

Britain is the only G20 nation still in recession, official figures showed after Canada resumed growth in the three months from July to September, going up 0.1 percent. read complete news..

World trade ministers meet as economy starts recovery

Ministers and officials of the 153-member World Trade Organisation (WTO) are gathering in Geneva Tuesday for a second day of talks aimed at reviewing the work of the group. view complete news..

Dubai World to restructure $26-bn debt

State-run Dubai World, which stunned the global financial markets with a debt restructuring announcement last week, Tuesday said only some subsidiaries were in financial trouble and that it would expedite the process to restructure the $26 billion owed by these entities. read complete article..

NTPC identifies Indonesian coal mines for acquisition

State-run power utility NTPC is scouting for more coal mines overseas and has identified about three blocks in Indonesia. read more news..

Mahindra, BAE Systems ink military vehicles' JV

Indian automobile major Mahindra & Mahindra Ltd. and global defence security and aerospace company BAE Systems have signed an agreement to create a military vehicles-focused joint venture based in India at an investment of $21.25 million, it was announced Monday. view complete news..

ONGC implements whistle-blower policy

State-run overseas oil explorer ONGC Ltd has decided to implement the whistle-blower policy which will allow employers to confidentially report suspected unethical or fraudulent acts within the organisation. read more news..

IT virtualisation infrastructure market in India looks promising

The market for virtualization of information technology infrastructure in India has good prospects, says consultancy Frost and Sullivan.

"The overall market for virtualisation in India is still nascent," said a reach report by Frost and Sullivan. view complete news..

Maruti sales up 84 percent a year after worst show

Car major Maruti Suzuki on Tuesday said sales for November stood at 87,807 units, a rise of 84 percent over the like month last year when the company was hit hardest due to a demand slowdown and sold only 47,704 vehicles. view complete news..

CII recommends guidelines for corporate governance

Companies should have the option of paying fixed contractual remuneration to non-executive and independent directors, according to the recommendations of a Task Force on Corporate Governance set up by the Confederation of Indian Industry (CII). view complete news..

Money no constraint for rescue, rehab works, says Chidambaram

The central government Monday assured the states hit by natural calamities that money was not a constraint for carrying out rescue and rehabilitation works as the country's economy is strong. view complete news..

Do not expect much from Copenhagen conference: Shyam Saran

India should not expect much from the Copenhagen conference on climate change as it is more about the defence of national economic interests, the prime minister's special envoy on climate change Shyam Saran said in New Delhi on Monday. read more news..

Govt plans to make Himachal a steel hub

Steel ministry officials Monday visited the state capital to find ways to make Himachal Pradesh a steel hub and increase its production and consumption. read complete news..

Canada now eyes India as partner in global nuclear market

Welcoming the nuclear agreement with India, Atomic Energy of Canada Limited (AECL), the country's top nuclear regulatory body, said Monday it now views India not merely as a new market but also as a global partner in nuclear energy technology. view complete news..

Sugarcane farmers hold demonstrations in Lucknow

Armed with sugarcane stems, thousands of farmers from various parts of Uttar Pradesh arrived in Lucknow in jam-packed trains to demonstrate against the sugarcane pricing policy of the state government. view complete news..

PM, New Zealand counterpart agree on free trade talks

Indian Prime Minister Manmohan Singh and his New Zealand counterpart John Key have agreed to start formal negotiations on a free trade agreement (FTA) next year, a newspaper report in Hamilton (New Zealand) said. view complete news..

Economy will return to 9 percent growth soon: India Inc

India Inc is upbeat about the "higher than expected" growth of gross domestic product (GDP) in the second quarter this fiscal and expects the economy to return to 9 percent growth soon. view complete news..

FIEO seeks redressal to emergent issues

In view of continuous decline in garments exports and recent appreciation of Indian Rupee, FIEO calls for immediate extension of Market Linked Focus Product Scheme for the apparel sector for exports to US & EU. view complete news..

AEPC urges govt to control runaway fabric prices

The Apparel Export Promotion Council (AEPC) chairman Rakesh Vaid has urged the government to control the rising fabric prices which would force the garment industry to witness massive job losses on unprecedented scale across the country by January next year, thereby hindering the growth of small and medium garment exporters as well. view complete news..