Gurgaon SMEs lose Rs.200 crore due to power cuts

Most small and medium enterprises (SMEs) in Gurgaon (Haryana) are running on diesel due to heavy power cuts since the start of summer and have lost up to Rs.200 crore in delays or loss of production, the Gurgaon Industries Association said Friday. read more news..

Uruguay wants India to set up full mission at Montevideo

Uruguay has pushed for a full Indian mission in its capital Montevideo, showcasing the Latin American country as the gateway to the region and to expand bilateral trade and economic relations. view more political news..

Spencer's Retail sees break even by this fiscal-end

Loss-making Spencer's Retail is likely to break even towards the end of the 2010-11 fiscal, a company official said Thursday. read more business news..

US threatens Italian gas co in Iran with sanctions

Italy's largest energy company has said it will end its role as lead developer of a natural gas field in Iran after the US threatened to impose sanctions on it. view more news..

Yamaha launches new bike to increase market share

To fill the void in its product slot, two wheeler maker India Yamaha Motor India has launched a 106 cc city bike, YBR 110, and hopes to increase its sales volumes to gain 10 percent market share in 2010. read more business news..

Maharasthra, UP worst power deficit states: ASSOCHAM

According to a study conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM), Maharasthra and Uttar Pradesh are two major states in entire India which confront the worst power shortages. read more news..

Diversify export basket to LAC nations: Scindia

India should focus on diversifying it export basket to the Latin American and Caribbean (LAC) countries focusing more on manufacturing and high value-added products, said the Minister of State for Commerce and Industry, Jyotiraditya Scindia in New Delhi on Thursday. view more news..

Massive oil slick inches closer to Louisiana coast

A massive crude-oil slick from an exploded rig in the Gulf of Mexico inched closer to the mouth of the Mississippi river late on Thursday as the government marshalled resources to protect fragile wetlands. view more business news..

3G Auction:Pan-India licence price now over Rs.9,300 crore

India Thursday concluded 100 rounds of an auction to award spectrum for third generation (3G) telecom services in the country, with the provisional winning price for a nationwide licence reaching over Rs.9,300 crore. read more business news..

FM justifies hikes in duties on petro-products

Finance Minister Pranab Mukherjee on Thursday justified the hike in excise and customs duties on crude oil and petroleum products because of the global situation and said he had taken a "correct" stand by not touching retail prices. view more political news..

Bata net profit up 38.7 percent in first quarter

Footwear retailer Bata India posted a net profit of Rs.14.33 crore for the first quarter (January-March) of 2010 compared to Rs.10.33 crore during the corresponding period last year. view more business news..

Ashok Leyland-Nissan JV to roll out LCVs in 2011

The Ashok Leyland-Nissan joint venture will start rolling out its light commercial vehicles (LCVs) out of the former's Hosur facility near Bangalore as well as from Renault-Nissan's car plant near Chennai. view more business news..

Export duty on iron ore raised again to 15 percent

The government raised the export duty on iron ore lumps to 15 percent from 10 percent previously, Finance Minister Pranab Mukherjee said while presenting the Finance Bill for 2010-11 on Thursday. view more news..

China unveils plan to boost foreign investment

China will offer discounted loans and other incentives to companies to boost foreign investment in the country's inland regions, the commerce ministry has said. view full news..

Biocon net zooms 224 pc in fourth quarter

Leading biotech firm Biocon on Thursday reported consolidated net profit of Rs.81 crore for fourth quarter (Jan-Mar) of fiscal 2009-10, registering a whopping 224 percent growth year-on-year (YoY) from Rs.25 crore in same period year ago. check out full news..

Finance Bill passed with no change in fuel levies

The Lok Sabha Thursday passed the Finance Bill for 2010-11, with a special relief package for coffee growers, and tax concessions for healthcare, auto and realty sectors, but without any change in the levies on petroleum products. view full article..

Handicrafts Sourcing Summit kick starts in Greater Noida

As part of its ongoing commitment to the Indian Handicrafts sector, Export Promotion Council for Handicrafts (EPCH) is organizing a three-day Indian Handicrafts & Gifts Sourcing Summit.. view more business news..

Oriental Bank Q4 net rises 75 percent

The Oriental Bank of Commerce Thursday said its net profit rose 75.33 percent to Rs.317.04 crore in the fourth (January-March) quarter ended March 31, compared to Rs.180.82 crore in the same period a year ago. view more business news..

ArcelorMittal sees strong rebound in second quarter

The world's largest steel maker, ArcelorMittal, on Thursday said margins would improve substantially during the April-June quarter due to stronger demand in all main markets after a net loss of $1.1 billion in the quarter ended March. checkout full article..

Chambers of commerce set agenda for G8/G20 summit

Meeting ahead of the G8 and G20 summits in Toronto in June, heads of business chambers from G8 nations have urged their leaders to institute new polices to sustain recovery from the economic meltdown. view more news..

Infotech inks pact with n-energy firm Westinghouse

Infotech Enterprises Limited, a leading technology solutions provider, has signed an agreement with Westinghouse Electric Company, the world's pioneering nuclear energy company, for providing engineering services in India. view more business news..

Eaton open to acquisitions in India

The Indian arm of US-based diversified industrial product manufacturer Eaton Corporation plans to grow its business inorganically. view more business news..

MP dam project: PM asked to revoke ban

Madhya Pradesh Chief Minister Shivraj Singh Chouhan has asked Prime Minister Manmohan Singh to revoke the "arbitrary order" of the central government to suspend the work on the Maheshwar hydro electric project. view more political news..

Food inflation dips to 16.61 percent

Annual food inflation declined to 16.61 percent for the week ended April 17 from 17.65 percent a week ago due to a fall in prices of fruits, vegetables and some coarse cereals, official data showed on Thursday. view more news..

PCBL to invest Rs.200 crore for new plant

City-based Phillips Carbon Black Ltd (PCBL) is planning to invest around Rs.200 crore to set up a 50,000-tonne plant over the next two years, a company official said in Kolkata on Wednesday. view more business news..

Himachal demands more power from central pool

Himachal Pradesh Chief Minister Prem Kumar Dhumal Wednesday requested the central government to enhance his state's power quota from the central pool as it is facing power shortage during the winters. read more political news..

3G auction: Pan-India licence price nears Rs.9,000 cr level

India Wednesday concluded 94 rounds of an auction to award spectrum for third generation (3G) telecom services in the country, with the provisional winning price for a nationwide licence nearing the Rs.9,000 crore level. view more business news..

India-EU FTA to close this year: EU delegation

The ongoing negotiations for a market opening Free Trade Agreement (FTA) between India and the 27-nation bloc European Union is expected to conclude before the end of the year, said a high-powered visiting delegation from the European Union (EU) on Wednesday. view more business news..

Remittances to Mexico down 12 percent

Remittances from Mexican emigrants, the second-largest source of income after oil exports, has gone down 11.98 percent, Mexico's central bank has said. view more political news..

US launches global initiative to help Muslim entrepreneurs

Citing Indian entrepreneur Shaheen Mistri's project to provide tutoring to slum children as an example, the US has launched a programme to provide concrete support to new entrepreneurs in Muslim-majority communities before expanding worldwide. view more business news..

US Senate to debate financial reform despite failed deal

The US Senate is set to begin debating an overhaul of financial regulations this week, despite the failure of Democrats and Republicans to reach a compromise on the far-reaching legislation after months of talks. view more political news..

Canara Bank net down 30 pc in fourth quarter

State-run Canara Bank posted a net profit of Rs.503 crore for the fourth quarter (January-March) of fiscal 2009-10, registering 30 percent decline year-on-year (YoY) from Rs.719 crore in the corresponding period of the previous fiscal. view more business news..

Wipro discusses joint ventures in UAE

Indian industrialist Azim Premji, chairman of Wipro, one of India's largest IT companies, discussed establishment of joint ventures with the ruler of Ajman, one of the seven emirates that make up the United Arab Emirates (UAE). view more business news..

Time to give strategic cast to India-Africa ties: Experts

With a growing global interest in India's engagement with Africa and China's surge in the region, experts and officials Wednesday pitched for imparting a strategic vision to the burgeoning economic and diplomatic ties between New Delhi and the resource-rich African continent. view more business & political news..

Coal India forms JV with NTPC to acquire assets

The country's largest coal producer, Coal India Limited (CIL), has formed a joint venture with power generator NTPC to acquire coal assets in the country and abroad. view more business news..

Pressure on Germany to accept Greece aid

The European Central Bank (ECB) and International Monetary Fund (IMF) stepped up pressure on Germany Wednesday to expedite a bailout for debt-stricken Greece, as signs emerged that Athens may need more money than first thought. view more news..

US central bank keeps interest rates at record low

The US Federal Reserve continued to keep interest rates at a record low of near zero percent to help fuel a recovery in the world's largest economy. view more business & banking news..

Be ready to meet global challenges, govt. to auto sector

The Indian auto industry requires to be prepared to meet global challenges, Commerce Secretary, Rahul Khullar said in the capital on Wednesday. view more business news..

Economy recovering but inflation still worrisome: FM

Finance Minister Pranab Mukherjee on Wednesday said that despite impressive developments in the Indian economy in the last few months, inflation has remained as the biggest cause for concern for the government. view complete news..

Govt. taking steps for domestic availability of cotton, yarn

The government has initiated different measures to ensure adequate domestic availability of yarn and raw cotton, Minister of State for Textiles, Panabaaka Lakshmi said on Wednesday in a written reply in the Rajya Sabha. view more business news..

India will contribute to South Asia's resurgence: PM

A day before he leaves for the 16th SAARC summit in Bhutan, Prime Minister Manmohan Singh Tuesday called for collective efforts to spur regional integration and stressed that India will play its part in South Asia's resurgence. view more business news..

SEBI issues guidelines on SME exchange

Market regulator Securities and Exchange Board of India (SEBI) on Tuesday issued guidelines for market makers on setting up stock exchanges exclusively for small and medium firms (SMEs). view more business news..

NTPC, NPCIL ink JV deal to set up nuclear power plants

State-owned power utilities NTPC and Nuclear Power Corporation Tuesday inked a deal to set up a joint venture to construct two nuclear power projects with the provision of setting up more such units in future. check out full news..

Punj Lloyd bags Cuddalore refinery project from Nagarjuna Oil

Punj Lloyd Group, the global engineering, procurement and construction (EPC) conglomerate, has announced that it has been awarded an order for Cuddalore Refinery Project of Nagarjuna Oil Corporation Ltd in Tamil Nadu. view more business news..

RComm, GetJar tie up to offer mobile applications

Reliance Communications Tuesday said it has entered into an agreement with the Silicon Valley-based GetJar to offer its customers over 65,000 free mobile applications, ranging from games and shopping to sports and entertainment. read more news..

3G, broadband auction may yield Rs.55,000 cr: Raja

The Indian government expects to raise Rs.55,000 crore from the ongoing auctions of radio frequency spectrum for third generation (3G) telecom services and for rolling out broadband wireless internet services in the country, Communications Minister A. Raja said in New Delhi Tuesday. check out full article..

Strikes only hurt the economy

As yet another strike Tuesday paralysed life in West Bengal, industry bigwigs and economists said such agitations only affected the economy of the state adversely without solving important issues like price rise. view more news..

BEL net profit dips 61 percent in fourth quarter

State-run Bharat Electronics Ltd (BEL) posted a net profit of Rs.216 crore for the fourth quarter (January-March) of the 2009-10 fiscal-a 61 percent decline from Rs.559 crore over the corresponding period in the previous fiscal (2008-09), a top company official said Tuesday. view more business news..

Six core sectors grow 7.2 percent in March

Six key sectors of the economy registered a growth of 7.2 percent in March compared to 3.3 percent growth during the corresponding period of the previous year, showed provisional data released Tuesday. view more business news..

Coca-Cola to set up three new plants in China

US soft-drink giant Coca-Cola will set up three new plants in China this year with an investment of $2 billion, the company said. view more business news..

BlackBerry plans to double its user base

Facing fierce competition from Apple's iPhone, BlackBerry maker Research In Motion (RIM) on Tuesday announced it will more than double its customer base. view more business news..

Post-LTTE, Sri Lanka's tourism soars

After over a quarter century of civil war, Sri Lanka is finally witnessing an upswing in tourism. The island with abundant natural beauty is luring visitors, particularly from India, not just with sun, sand and sea but also with new attractions like ayurveda and adventure. view more news..

Learn South Africa programme for Indian travel agents

With an aim to spread more awareness about the region, the South African Tourism Board on Tuesday announced a programme for the Indian travel agents beginning in July. view full article..

Govt. protecting MSMEs from global slowdown: Patel

Keeping in view the impact of global economic slowdown on micro, small and medium enterprises (MSMEs) the Government has taken several measures to protect them, said Minister of State (Independent Charge) for MSMEs, Dinsha Patel in a written reply to a question in the Lok Sabha on Tuesday. read more business news..

Indian can meet carbon cut targets by 2020

The Indian industry can reduce carbon emissions by 20 to 25 percent by 2020 with use of technology but reducing emission post-2020 will be a challenge, a study released in New Delhi on Tuesday said. view more news..

Govt. to trim transaction costs for exporters

The government is looking at ways to simplify procedures and reduce transaction costs for the country's exporters and a task force will submit its report on the issue by June-end, Minister of State for Commerce and Industry Jyotiraditya Scindia said in New Delhi on Tuesday. read more business news..

Bank employees get pay hike by 17.5 percent

Employees' unions and the Indian Banks Association (IBA) Tuesday signed here a five-year wage agreement providing for a 17.5 percent hike in pay from 2007 to around 775,000 staffers of 46 banks whose annual wage bill will go up by Rs.5,200. view more business news..

NITMA reduces yarn prices to help textile sector

In a bid to help the clothing and other downstream segments of the textile industry, which have been in a bind over soaring cotton prices, the member mills of Northern India Textile Mills Association (NITMA) have agreed to reduce cotton yarn prices by Rs.5 per kg with effect from 1st May 2010, said NITMA President, Ashish Bagrodia on Tuesday. view more business news..

Govt. mulling further export support measures: Anand Sharma

Commerce and Industry Minister, Anand Sharma on Tuesday said that the government will take a considered view on further export support measures and that the Directorate General of Foreign Trade (DGFT) carrying out a sectoral review on exports. read more business news..

BlackBerry unveils new Bold and Pearl smartphones

BlackBerry maker Research In Motion (RIM) Monday launched another smartphone - called BlackBerry Bold 9650 - to add another device to its premier Bold brand. view more business news..

Requiem for the floppy: Sony to stop sales

Sony has announced it will stop selling floppy disks from March 2011 because of falling sales, a media report said in London on Tuesday. view more business news..

State Bank of Travancore improves Mid-East operations

The State Bank of Travancore (SBT) will beef up its operations in the Middle East to shore up non-resident Indian (NRI) deposits. read more business news..

Mindlance to set up development centre in Jaipur

US-based IT service provider Mindlance is planning to set up a development centre here as part of its India strategy focusing on smaller cities. view more business news..

Punjab, Haryana procure 150 lakh tonnes of wheat

Wheat procurement in Punjab and Haryana has crossed the 150 lakh tonnes mark, officials said on Monday. view complete article..

India-LAC Conclave an opportunity: CII

With projects worth $10.39bn up for consideration at CII India-LAC Conclave, to be held in New Delhi during April 29-30, businesses from both sides will get a unique opportunity to present case studies and real projects ready and available for JVs and exports, the Confederation of Indian Industry (CII) said Tuesday. read full article..

Spain's debt rose 33.9 percent in 2009

Spain's outstanding government debt rose 33.9 percent and totalled 461.99 billion euro ($619 billion) at the end of 2009, official statistics have said. view more political news..

'Made in China' products faked overseas

A Chinese technology company says that "Made in China" products are being counterfeited overseas. view more news..

Strike against prices hits life in parts of India

Normal life was hit hard in West Bengal, Kerala, Tripura and parts of Uttar Pradesh, Andhra Pradesh and Tamil Nadu as activists of 13 opposition parties staged a 12-hour nationwide strike to denounce the government over rising food prices. view more news..

Apex court no to Lafarge restarting mining in Meghalaya

The Supreme Court Monday rejected the central government's plea to allow French cement giant Lafarge restart limestone mining in Meghalaya. check out news..

German firm to invest $133 mn in Indian power plants

Evonik Energy Services, the Indian arm of German power generation major Evonik Industries, Monday said it plans to pick up equity worth about $133 million (Euro 100 million) in various power projects where it is involved as an engineering and services partner. view more business news..

Court go-ahead for Nirma cement plant in Gujarat

The Gujarat High Court Monday gave a conditional go-ahead to detergent maker Nirma for construction of its Rs.1,400 crore cement plant at Mahua near Bhavnagar which has been opposed by farmers citing environmental concerns. view more business news..

India looking for FDI in sectors attracting technology

Commerce and Industry Minister Anand Sharma Monday said that the government will prefer foreign direct investment (FDI) in and subsidies to those sectors which would attract technology and investment. view more business news..

Mumbai leads in 3G auction, pan-India licence now Rs.8,382 crore

India Monday concluded 82 rounds of spectrum auction for third generation telecom services in the country, with Mumbai attracting the highest bid and the provisional winning price for a nationwide licence reaching Rs.8,382.48 crore. view more business news..

World Bank changes to help India as borrower, shareholder

Historic decisions taken by the World Bank to increase the financial capacity of the Bank and give more voice to the developing countries would greatly benefit India both as a borrower and a shareholder, Indian officials said. checkout full article..

Stimulus withdrawal in best interest of economy: RBI

Asserting that the withdrawal of stimulus is in the best interest of the economy in the current scenario of high inflation, RBI Governor Duvvuri Subbarao on Monday said that both the government and the central bank have begun the process of exit from the expansionary stances of the financial crisis period. check out full article..

EU-India trade deal could cost lives, aid groups warn

A planned free-trade deal between the European Union (EU) and India could cost lives if it stops Indian companies selling cheap "generic" AIDS drugs to even poorer states, leading aid organisations warned Monday. read more business news..

Govt. will be able to pass Finance Bill 2010-11

The UPA government has mustered up adequate strength for passing Finance Bill 2010-11 in Lok Sabha even if opposition parties make a determined bid to throttle it and the Bill will be passed without any hitch, says Union Minister for Law and Justice, M. Veerappa Moily. view more political news..

US govt moves closer to sale of Citigroup shares

The US government moved one step closer Monday to selling its 27-percent stake in bailed-out financial giant Citigroup, saying it would soon offer 1.5 billion shares to private buyers. view more business news..

Exports may cross USD 170 bn: Anand Sharma

Exports from the country may cross USD 170 billion in the year 2009-10, when the final figure will come out, said Minister of Commerce and Industry Anand Sharma on Monday in New Delhi. read more business news..

Iceland's volcanic ash hit India's exports as well

Even as India's airlines were struggling to get back to normalcy after weathering the global recession, the volcanic ash from Iceland has given the industry another jolt while also affecting the country's exports. check out full news..

Punjab & Sind Bank IPO in June to raise Rs.500 crore

Punjab and Sind Bank will hit the capital market with an initial public offering (IPO) of 50 million shares in June to raise around Rs.500 crore for business expansion, the public sector lender's managing director G.S. Vedi said on Monday. view more business & banking news..

Nissan Motor India starts trial exports of cars from India

The Indian subsidiary of the Japanese Nissan Motor Company has taken the first step to export vehicles from its plant near here by shipping out six Micra cars as test consignment to Spain. view more business news..

Maruti Q4 net profit up three-fold on strong sales

Car major Maruti Suzuki on Monday reported a nearly three-fold jump in net profit at Rs 656.55 crore for the quarter ending March 31, 2010. view more business news..

Government lowers target for highway construction

The Indian government has lowered its target for building highways to 12-13 km a day from 20 km in the current fiscal due to lack of adequate infrastructure and technology. check out full story..

Ministry of MSME to set up IPR cell for SMEs

The Ministry of MSME, in collaboration with the Federation of Indian Chambers of Commerce & Industry (FICCI), is likely to set up an IPR (Intellectual Property Rights) monitoring cell to help SMEs in the area, a FICCI official said on Monday. view more business news..

Japan, South Korea to end currency swap arrangement

Japan and South Korea have agreed not to extend their emergency currency swap arrangement that expires this month, the government and central bank officials said in Seoul. view more political news..

Govt to release 6 discussion papers on FDI

The government on Monday said that it will come out with six discussion papers by mid May on the country's foreign direct investment policy. view more business news..

Govt. yet to heed MP's demand for coal

The Madhya Pradesh government has reiterated its demand to the central government for "adequate quantity of quality coal" for its thermal power plants but has so far received no positive response, official sources said Sunday. view more business news..

Auto sector facing challenges of lack of skilled labor & infrastructure

Nations's automotive industry is facing the challenges of lack of skilled manpower and slow growth of infrastructure development, reports consultancy firm Ernst & Young. check out full article..

Etihad launches cargo service to Iraq

Etihad Crystal Cargo, a division of United Arab Emirates (UAE) based Etihad Airways, has launched a weekly cargo service from its hub at Abu Dhabi International Airport to Erbil in the Kurdistan region of Iraq. view more business news..

Over 200 exhibitors participate in Dubai Airport Expo

Over 200 exhibitors from 34 countries are participating in the Airport Show 2010 that opened in Dubai on Sunday, an official said. view more business news..

Shanghai World Expo goes 3-D on internet

Now visiting the Shanghai World Expo will be possible through internet as the organiser has decided to launch its new website to display the event with three-dimensional (3-D) vision. view more business news..

EID Parry India now bags GMR Industries

In line with the Murugappa group's vision of growing and expanding its sugar business, the Rs.1,147 crore turnover EID Parry (India) Ltd will acquire majority stake in the Rs.235 crore GMR Industries. view more business news..

Airtel launches World SIM to lower international roaming

Leading telecom operator Bharti Airtel Sunday launched the Airtel World SIM for international travellers, using which customers can save up to 85 percent on international calls. view more business news..

Food grain reserve sought in MP

Faced with surplus wheat production and lack of storage space, the Madhya Pradesh government has sought the central government's assistance to develop a strategic grain reserve in the state, official sources said on Sunday. view more news..

World running out of diamonds: De Beers

The supply of diamonds in the world is dwindling, said De Beers, the biggest miner of the sparkling gem. checkout full article..

Dhaka looks globally for yarn import after Indian export ban

Bangladesh’s spinners are trying to import cotton yarn and raw cotton from Africa, Austria, the US and Brazil after India recently imposed a ban on its export. checkout full article..

Russia bans baby food from US company

Russia has banned baby food containing poultry components produced by an Amercian company after the country passed new safety regulations, a top official has said. view more business news..

Record cherry pick expected from Himachal

Here's some sweet and juicy news - cherry growers in Himachal Pradesh are expecting a bumper crop of the fruit this season owing to favourable weather. Total production is set to touch a record 900 tonnes. read full article..

Manmohan to meet Karzai today to discuss bilateral ties

President Hamid Karzai arrived in the national capital on a two-day visit to hold discussions with PM Manmohan Singh on bilateral ties and developments within Afghanistan. view more business news..

FIEO meets DGFT on roadmap to boost exports

The Federation of Indian Export Organisations (FIEO) on Sunday met the Director General of Foreign Trade (DGFT) in New Delhi and suggested a slew of measures to boost export in the current fiscal which is set to show marginal decline in 2009-10. view more business news..

India poised to grow at 8 percent; inflation worrisome

Recovering rapidly from the global financial crisis, India is poised to grow at 8 percent this year, but inflation and excessive capital flows could pose a challenge, a gathering of world finance ministers was told on Saturday. view full article..

World Bank gets more funds, developing nations more say

Governments Sunday approved nearly $90 billion in extra money for the World Bank and shifted the balance of voting shares in the institution slightly toward developing countries. view more world news..

Indian services sector reporting double digit growth: CII survey

The Indian services industry is back to its pre-slowdown level, with many of its key sectors reporting double digit growth, says a Confederation of Indian Industry (CII) survey. view more business news..

Ban on raw cotton registration to affect prices marginally

The government's decision to indefinitely suspend registration of raw cotton export shipments from Monday would have little impact on domestic cotton prices as most of the exports for the current cotton season have been committed, trade and industry officials said in Kolkata on Tuesday. view more business news..

India registers business worth $ 50 mn in Canton Fair

As per the feedback received from some of the Indian participants at the China Import and Export Fair (Canton Fair), on-the-spot orders worth about USD 50 million have been booked and business worth about USD 100 million is likely to be generated, Federation of Indian Export Organisations (FIEO) informed in its release. check out full article..

Ban on cotton exports may affect 2.5 mn bales

A ban on cotton shipments from India, the world’s second-largest grower and exporter, may affect as many as 2.5 million bales of the commodity, the Cotton Association of India said in an e-mailed statement. check out full news article..

Russian gas exports increase 120 percent in first quarter

Russia's natural gas exports in the first quarter of this year reached 52.1 billion cubic metres, a 120 percent increase year-on-year, the energy ministry said on Friday in Moscow. view more business news..

Manappuram targets Rs.225 crore profit this fiscal

India's only listed and highest credit rated gold loan company, Manappuram General Finance and Leasing Limited (MAGFIL), has set a target of recording over 100 percent growth in profit of Rs.225 crore this financial year. view more business news..

Australian mining firm looking for Indian partners

Lincoln Minerals is looking for Indian partners for four mining projects in Australia, a top company official said on Friday. view more business news..

CAG blames Maharashtra govt. on IPL losses

The Comptroller & Auditor General (CAG) on Friday slammed the Maharashtra government for losing nearly Rs.49.99 million (Rs.4.99 crore) in 2008 by not levying entertainment tax on the Indian Premier League (IPL) tourney. view more news..

Premji bets on large deals from US, Europe and India

With tech spend reviving on signs of global economic recovery, Indian IT bellwethers like Wipro see large deals coming back to the table for aggressive business growth in the new fiscal (2010-11). view more business news..

Food security bill not discussed in eGoM: Pawar

The empowered Group of Ministers (eGoM) on food did not discuss the draft food security bill in their meeting Friday, Agriculture Minister Sharad Pawar said. view more news..

G20 ministers hold off on global bank tax

The Finance ministers of the world's 20 leading economic powers on Friday in Washington stopped short of endorsing a controversial global tax on banks, instead calling for the International Monetary Fund to conduct more research into measures that would hold banks responsible. view more political news..

US stocks climb on home sales, American Express results

The US stocks rose on Friday across the board, buoyed by resurgent home sales, a strong American Express report and a rebounding Honeywell. view more news..

CBI seeks to examine Satyam chief by video-conferencing

The Central Bureau of Investigation (CBI) on Friday sought permission from the special court trying Satyam Computers' former chairman B. Ramalinga Raju in the Rs.78 billion scam to examine him through video-conferencing. view full news..

Crude prices rise as US home sales surge

Crude prices rose above $85 per barrel on Friday in New York as strong sales of new homes in the US boosted investor confidence about an economic recovery. view more business news..

Coal India union leaders to meet PM soon on IPO

Trade Union leaders representing Coal India Ltd's workers would meet Prime Minister Manmohan Singh soon to discuss their concerns over the proposed initial public offering (IPO) of the company, Coal Minister Sriprakash Jaiswal said in Kolkata on Friday. view more business news..

Fresh snowfall lures tourists to Himachal

The sweeping heat wave across north India has once again driven tourists to various popular destinations in Himachal Pradesh to seek refuge in the cooler climes of the hills especially after a recent spell of snow. read full news..

Reliance Industries net up 6.1 percent

India's largest private sector company Reliance Industries (RIL) on Friday reported a 6.1 percent increase in net profits at Rs.16,236 crore ($3.6 billion) for the fiscal ended March, compared to Rs.15,309 crore in the previous fiscal. read more business news..

India, China growth helping developing nations: World Bank

But for the rapid progress made by India and China, the pace of poverty reduction in developing countries would have been still slower after the global economic crisis, according to World Bank's lead economist. view more news..

Credit rating not necessary for MSEs to get loan

Credit rating is not a necessary requirement for any Micro and Small Enterprises (MSEs) to get loan from Banks and Financial Institutions at economical rates, said Minister of State (Independent Charge) for Micro, Small and Medium Enterprises (MSMEs) Dinsha Patel in a written reply to a question in the Rajya Sabha. view more business news..

Spain reports rise in tourist arrivals

The arrival of international tourists in Spain rose by 3.2 percent last month to 3.5 million, the biggest monthly increase since May 2008, the industry ministry said in Madrid. view more travel news..

Venezuela, Cuba sign oil exploration treaty

Venezuela and Cuba have signed a treaty for exploration of crude oil and natural gas in two Venezuelan states, the state-owned oil authority has said on Thursday in Caracas. view more news..

Microsoft sees record revenue through Windows 7

The launch of Windows 7 propelled Microsoft to record third-quarter revenue of $14.5 billion, a 6-percent increase from a year ago, the world's largest software company said on Thursday at Seattle. view more business news..

CCEA approves Rs.632 crore for NHB

The Cabinet Committee on Economic Affairs (CCEA) has approved Rs.632 crore for the National Horticulture Board (NHB) to implement its existing schemes and promote 25,000 integrated commercial horticulture projects in the 11th plan period ending 2012. read more business news..

Former cricket board chief moves court on IPL franchise norms

The former president of the Board of Control for Cricket in India (BCCI), A.C. Muthiah, on Friday moved the Supreme Court challenging the norms that permit office bearers to hold franchises for Indian Premier League (IPL). view more business news..

NTPC net profit rises 5.6 percent

The country's largest power generator, NTPC, on Friday reported a 5.6 percent rise in net profits for the year ended March at Rs.8,660 crore, up from Rs.8,200 crore in the previous fiscal. view more business news..

India's fuel subsidies don't help poor, says expert

India's fuel subsidies don't actually help poor households but instead benefit those who can afford to own vehicles and electrical appliances, according to a leading expert. view more news..

Six Indians among 50 fastest-growing women-led US companies

Indian American entrepreneurs run six of the top 50 fastest-growing women-led companies in the US, according to an annual ranking by trade group Women Presidents' Organization in Washington. read more business news..

Govt. approves Rs.15,000 cr capital infusion for PSU banks

The government has approved Rs.15,000 crore ($3.34 billion) as capital infusion for public sector banks for the current fiscal and said further assistance for the next fiscal would be decided later in consultation with the banks. view more business news..

CCEA approves MSP for raw jute at Rs.1575 per quintal

The Cabinet Committee on Economic Affairs has approved the Minimum Support Price (MSP) for 2010-11 season for TD-5 Grade of Jute ex-Assam at Rs.1575 per quintal. read more business news..

Export of finished steel down by 36% in 2009

The export of finished steel (alloy + non-alloy) has declined by 36.1% during April to December 2009, the Minister of State in the Ministry of Steel, A. Sai Prathap has informed in a written reply in the Lok Sabha on Thursday. view more business news..

Obama seeks passage of finance reform bill

The US President Barack Obama urged the Senate on Thursday in Washington to pass a massive financial reform bill that would place new regulations on Wall Street designed to prevent the risky practices that sparked a worldwide economic downturn two years ago. view more political news..

China has over 18 mn 3G users

The number of 3G mobile telecommunication users in China has reached 18.08 million in March, Xinhua reported on Thursday in Beijing. view full article..

Handicraft exports up merely by 3% in 2009-10

The exports of handicrafts including hand-knotted carpets have increased marginally by 3.05% over the year-ago period due to the global slump in demand. view more business news..

Wipro net up 18 percent for fiscal 2009-10

Wipro Ltd posted net profit of Rs.45.93 billion (Rs.4,593 crore) for fiscal 2009-10, registering 18 percent growth year-on-year (YoY), according to the Indian accounting standard. view more business news..

India exhibits home products in Hong Kong

Federation of Indian Export Organisations (FIEO) along with 77 companies have participated in India Sourcing Fair – Home Products held in Hong Kong. read more business news..

Risk factor dips PE investment in SMEs to 68% in '09

Shying away from risking their capital in small and medium enterprises (SMEs) in the wake of the economic slowdown, Private equity (PE) investment in the SME sector dipped to USD 580 million in 2009, down about 68 percent year-on-year. view more business news..

Fiat to sell industrial unit in stock market

Automobile maker Fiat will separate its industrial business and sell it on the stock market by the end of the year as it aims to manufacture six million cars a year by 2014. view more business news..

ACC net dips for March-end quarter

Cement major ACC on Thursday reported a drop in net profits for the quarter ended March 31 and attributed the under performance to non-availability of railway wagons. read more business news..

Indo-Pak bilateral ties can improve via SME route

With the collaboration between SMEs of India and Pakistan, both the countries can increase their bilateral position to a great extend, said the Minister (Trade), High Commission for Pakistan, Naeem Anwar in New Delhi recently. check out full news..

GJEPC eyes 20 pc growth in gems and jewellery exports

The Gems and Jewellery Exports Promotion Council (GJEPC) expects exports growing by 20 percent in the current financial year from 16 percent in the last fiscal due to the financial recovery in the world. view more business news..

Single window clearance to tourism projects in Maharashtra

The Maharashtra government will provide single window clearance of tourism and hospitality projects in a bid to develop the state as an important tourism destination. view more news..

Patnaik seeks funds for Orissa flood, drought victims

Orissa Chief Minister Naveen Patnaik on Wednesday urged the central government to release adequate funds for the victims of the floods and drought the state had seen in 2008 and 2009. view more news..

New civic centre should make Delhi world class city: HM

The new 28-storey state-of-the-art civic centre that will house the Municipal Corporation of Delhi (MCD) should pave way for the national capital to become a world class city, Home Minister P. Chidambaram said on Thursday. view more news..

Food inflation rises to 17.65 percent

Nation's annual food inflation rose to 17.65 percent for the week ended April 10 from 17.22 percent a week ago as prices of milk, fruits and lentils went up during the period under review, official data showed on Thursday. view more news..

US unveils new design for $100 note

The US has unveiled a new design for the $100 note. Complete with advanced technology to combat counterfeiting, it retains the traditional look of US currency in Washington. view complete article..

Punjab, Haryana close to 130 lakh tonnes wheat arrival

Foodgrain states Punjab and Haryana on Wednesday moved closer to the 130 lakh tonnes mark of wheat arrival this season in the first 20 days of the procurement this year, food and supplies department officials said in Chandigarh. view more complete news..

Pan-India 3-G licence price crosses Rs.6,500-cr mark

India on Wednesday completed 58 rounds of an auction to award radio frequency spectrum for third generation telecom services in the country, with the provisional winning price for a nationwide licence crossing Rs.6,500-crore mark. view more business news..

BJP's show of strength over price rise cripples Delhi

Tens of thousands of Bharatiya Janata Party (BJP) activists laid siege to the capital on Wednesday, nearly crippling it, to denounce rising food prices. It was the party's first show of strength since president Nitin Gadkari took charge in December. read more political news..

G20 labour ministers pledge to work against jobless recovery

Labour ministers from the world's 20 leading economies, including India, have drawn up a five-point programme with acceleration to job creation to ensure a sustained recovery and future growth at the top. read more business and political news..

European air travel normalises after ash chaos

Air travel across Europe is set to normalise on Thursday after days of airspace closures and cancelled flights caused by an ash cloud from an Icelandic volcano. rad more complete news..

Chinese economy to grow by 10 percent in 2010: IMF

Powered by strong domestic demand, the Chinese economy is likely to grow by 10 percent in 2010, the International Monetary Fund (IMF) said on Wednesday in Washington. read more business news..

GMR diktat on cancelled cargo irks exporters

With GMR issuing a directive saying that air cargo which had cleared customs but could not be airlifted because of cancellation of flights specially from Europe and America due to volcanic ash is subject to payment of storage charge, Indian exporters specially from Delhi got another hammer on their head. read more business news..

Italy identifies over 6,000 tax frauds

Italy has identified 6,100 people involved in tax fraud and are suspected of transferring at least 2.7 billion euros ($3.6 billion) to offshore accounts in 2009, a top police official has said in Rome. view more business news..

State Bank of Mysore net up 32 pc in 2010

The State Bank of Mysore (SBM), an associate bank of the State Bank of India (SBI) in Karnataka, posted net profit of Rs.446 crore for fiscal 2009-10, registering 32 percent growth year-on-year (YoY), a top bank official said on Wednesday. view more banking news..

India to become largest DTH market by 2012: Study

India will become the largest DTH (direct-to-home) market in the world in terms of subscribers by 2012, overtaking the United States, according to a recent study. read more business news..

56 Indian firms in The Forbes Global 2000

India with 56 members and China with 113 members gained the most ground in breaking into the exclusive club of "The Forbes Global 2000" - "the biggest, most powerful listed companies in the world". view more business news..

India - Europe flights resume after a week

Air traffic between India and Europe resumes on Thursday after a week of disruption caused by volcanic ashes, Air India and Jet Airways started operating flights in both directions to fly home stranded passengers. view more more..

TERI and HSBC incentivise SMEs for CSR efforts

The Energy and Resources Institute (TERI), along with HSBC, has announced the HSBC Living Business SME Awards, recognizing the social commitment of Small and Medium Enterprises, in the capital on Wednesday. view more business news..

HLL Life Care ends fiscal with record turnover

Leading condom manufacturer HLL Life Care closed the last fiscal (2009-10) with a record turnover of Rs.445 crore, the mini ratna company's Managing Director M. Ayyappan said in Thiruvananthapuram. read more business news..

Skies opening for aviation over Europe

More airports in Europe, including many in Britain and Germany, reopened Wednesday, almost a week after airspace over large parts of Europe was shut down over ash clouds from a volcano in Iceland. read more travel news..

Airlines lost $1.7 bn to closed skies: IATA

The ash cloud from the Icelandic volcano eruption that spread over Europe cost airlines more than $1.7 billion in lost revenue, the International Air Transport Association (IATA) said Wednesday. read more business news..

Revenues from 3G auction may touch Rs.45,000 cr: Raja

The government hopes to net around Rs.45,000 crore from the ongoing auctions to award radio frequency spectrum for third generation (3G) telecom services and for rolling out broadband wireless internet services, Communications Minister A. Raja said Tuesday. read more business news..

Growth without equity is meaningless: PM

Prime Minister Manmohan Singh said Wednesday the Indian economy would grow at 8.25 percent in the current fiscal, but this will have little meaning unless there is equitable growth. read more business & political news..

Moves by major economies saved 21 mn jobs: ILO

Policies initiated by the Group of 20 (G20) major economies in response to the economic crisis have saved or created some 21 million jobs since last year, according to the UN's International Labour Organization (ILO). read more business news..

Poverty goals reachable: World Bank

A global goal of halving poverty by 2015 is still achievable, the World Bank said Tuesday, but warned that nearly half of all developing countries are falling short of the target set a decade ago. read more business news..

Economic optimism spurs US stocks

Strong earnings reports Tuesday on Wall Street bolstered confidence in the rebounding US economy and fuelled a rise in major stock indices. read full article..

Traffic snarls expected in Delhi on Wednesday

Traffic snarls are expected in the New Delhi and central Delhi areas Wednesday due to the Bharatiya Janta Party (BJP) rally against price rise. The traffic police has asked the public commuting in these areas to use the metro to avoid traffic jams. read full news..

Minimum Rs.25,000 cr revenue from 3G auction for Government

India has completed 52 rounds of an auction to award radio frequency spectrum for third generation telecom services in the country, with the government expected to get Rs.25,769.82 crore as minimum revenue from the bidding. read more business news..

Canadian firm set for drilling in Uttarakhand

Canada's Pebble Creek mining company said here Tuesday that it is all set to commence drilling operations at its Askot project in India's Uttarakhand state. read more business news..

RBI to hike interest rates in coming months, say experts

The Reserve Bank of India (RBI) is expected to continue increasing the repo and reverse repo rates in months to come, said a senior official of HDFC Bank. read more banking news..

Govt. schemes for MSMEs to adopt eco-friendly technologies

The government is promoting eco-friendly technology for the micro, small and medium enterprises (MSMEs) through various schemes, says Minister of State (Independent Charge) for MSME, Dinsha Patel informed this in a written reply to a question in the Lok Sabha on Tuesday. check out full news..

Registration of cotton export contracts suspended

The Government is further tightening the screws on cotton exports, coming on top of an export duty of Rs 2,500 a tonne imposed recently. view more business news..

Exporters face huge losses due to European volcanic ash

Already exporters are not able to draw enough demand for goods from the key export markets due to the massive financial slowdown, which has hurt many big economies adversely in the last one year. In addition, the unprecedented four-day shutdown of European airspace continued to wreak havoc, as the volcano near the Eyjafjallajoekull glacier in southern Iceland went on spewing ash and many countries have either canceled, delayed or extended bans on flights. view more business news..

Monetary policy will tamp down inflation: FM

Finance Minister Pranab Mukherjee Tuesday endorsed the central bank's decision to hike key interest rates aimed at containing inflation without hurting growth. read more political & business news..

Interest rates should not move upwards: FIEO

A Sakthivel, President, Federation of Indian Export Organisations (FIEO) while commenting on the annual monetary policy stated that as anticipated the RBI has hiked short term lending rates and CRR, however, whether the 25 basis points increase across the board would be sufficient to contain the accentuating inflation which is at an average WPI of 8% and a CPI of over 13% is a matter of debate but will lead to increase in the interest rates. read more business & banking news..

Flight disruptions cause $50 mn loss to Emirates

Disruption of flights across Europe due to volcanic ash clouds emanating from Iceland has cost Emirates Airlines around $50 million, the airlines has said in Dubai on Monday. read more business & travel news..

Amway targets Rs.20 billion business in India by 2012

Consumer and home products direct marketing company Amway India hopes to do business worth Rs.20 billion in the country by 2012, adding more products to its portfolio, a company official said in Agartala on Tuesday. read more business news..

Strong Indian rupee makes China Dhaka's No.1 trade partner

Strengthening Indian rupee once again made China, Bangladesh's number one trading partner. read more business news..

BSNL employees go on nation-wide indefinite strike

Over three lakh BSNL employees started an indefinite nation-wide strike from Tuesday to protest the proposed disinvestment in the telecom PSU, as also voluntary retirement. read more business news..

Copenhagen accord a step forward, say major economies

Representatives of major economies, including India, are generally agreed that the Copenhagen Accord represented an important step forward and provided important political consensus regarding key issues in the climate change negotiations leading up to Cancun. read more news..

Over 41,000 stranded at Mumbai and Delhi airports

The government on Monday said more than 41,000 passengers have been stranded at Mumbai and Delhi international airports as air routes are restricted due to an ash cloud from an Icelandic volcano spreading to Europe, disrupting flights for the last four days. read more travel news..

Iron ore supply hit as Maoists damage rail track

Iron ore supply on a key rail route was suspended on Monday after suspected Maoists damaged a portion of track in insurgency-hit Chhattisgarh, said a senior official. read more business news..

Give compensation to exporters; govt. to concor

The Ministry of Commerce, Textile and MSME agreed to request the Container Corporation of India Ltd (Concor) for giving compensation to the exporters who have suffered the losses due to the massive fire at ICD Tughlakabad, said Delhi Exporters Association on Monday. read more business news..

First plane leaves Beirut after volcanic ash disruption

An Air France plane headed on Monday from Beirut to Nice, thus becoming the first aircraft to travel from Lebanon to France since passenger traffic was stopped due to a cloud of ash from an Icelandic volcano. read more travel news..

EU ministers agree to ease air restrictions Tuesday

Flight restrictions in Europe are expected to ease starting at 1130 IST Tuesday, the European Union's Transport Commissioner Siim Kallas said in Brussels, signalling that an end is in sight for the travel misery gripping the continent. read more travel news..

Venezuela, China announce joint oil venture

Venezuela and China will together invest $16.32 billion in a joint oil venture to pump 400,000 barrels per day from the Junin 4 Block in the Andean nation's crude-rich Orinoco Belt, state-owned Petroleos de Venezuela S.A. has said at Caracas. read more business & political news..

UN postal agency hit by air traffic disruption in Europe

An official with the Universal Postal Union (UPU) said at Geneva on Monday that operators across Europe were trying to cope with the closed skies that have seen planes needed to deliver letters and packages grounded. read more travel news..

Hyundai India to expand dealers network, launch new SUV

In order to take on new competition, India's second largest car manufacturer Hyundai Motor India plans to expand its distribution network and also launch a new small car and a sports utility vehicle (SUV) Santa Fe this year. view more business news..

Assam, Mizoram, WB get grant for rural development

The central government has released grants to Assam, Mizoram and West Bengal to ensure total sanitation that includes doing away with the practice of open defecation in rural areas. read more political news..

CITI appeals for holding cotton yarn prices for a while

Confederation of Indian Textile industry (CITI) has requested the spinning industry to avoid any increase in cotton yarn prices for the next three months, in view of the problems being faced by the downstream segments of the industry. read more textile industry news..

Defence equipment export slipped in 2009

The export of defence equipment slipped last year, Minister of State for Defence M.M. Pallam Raju informed the Lok Sabha on Monday. read more business news..

RBI hints at rate hike to tame inflation

The Reserve Bank of India (RBI) on Monday hinted at a hike in key interest rates to keep inflation in check while predicting a faster 8.2 percent growth in the current fiscal provided there is a normal monsoon. view more business & banking news..

RBI to present annual monetary policy on Tuesday

The Reserve Bank of India (RBI) will present the annual monetary policy for this fiscal in Mumbai tomorrow amid a classical dilemma faced by all central banks to keep the momentum of growth or to rein in inflation. read more business news..

Cochin Port registers record cargo throughput

Cochin Port has achieved a record high cargo throughput of 17.43 million tonnes in the last fiscal, the Cochin Port Trust said in Kochi on Monday. read more business news..

Singapore education firm to invest $24 million in India

Singapore-based Raffles Education Corporation Ltd (REC) will invest $24 million (Rs.107 crore) to expand its operations in India to offer design skills in multiple sectors, a top company official said on Monday. read more business news..

Regulators to take call on corporate law violations by IPL: Khurshid

Corporate Affairs Minister Salman Khurshid on Monday ruled out suo-motu action by his ministry to probe alleged violations by the Indian Premier League (IPL) and its franchises and said it was for the regulators to take a call and ask for any action. read more political news..

Indian carriers to fly polar route to US, Canada

Air India, Jet Airways and Kingfisher Airlines will now fly to the US and Canada taking the polar route, an official said on Monday. read more travel news..

Pranab says full probe on source of funds into IPL

Finance Ministry Pranab Mukherjhee on Monday said a thorough probe had been ordered on the source and uses of funds by the franchises of Indian Premier League (IPL) and that no one guilty of wrong-doing will be spared. read more political & business news..

Dubai to host Airport Show 2010

Dubai would host the Airport Show 2010, an event showcasing a wide array of hi-tech services and equipment related to the airport sector. read more business & political news..

Clouds thinning, airspaces opening, says Eurocontrol

The cloud of volcanic ash over Europe is beginning to thin and a number of countries have been able to reopen their airspace, European air traffic control body Eurocontrol said Monday. read more travel news..

Bangladesh parl panel to probe Airtel deal

A parliamentary committee in Bangladesh is to probe a possible loss to the country from the sale of a substantial portion of mobile operator Warid's stake to Indian telecom firm Bharti Airtel. read more business news..

Videocon plans Rs.30,000 crore 6,000 MW power foray

The Videocon group has an ambitious plan to set up four thermal power generating units with a combined capacity of 6,000 MW at four locations around the country with a total investment of Rs.30,000 crore, company chairman Venugopal Dhoot said on Sunday. read more business news..

Orissa doctors call off stir after talks

Government doctors in Orissa withdrew their strike on Sunday after a day's protest to press their demand for the implementation of a scheme that ensures time-bound promotions. read more news..

German airspace partially reopened

Six of Germany's 16 international airports were partially reopened for a few hours until Sunday evening, air traffic controllers announced. read more travel news..

Jet Airways to resume flights to US, Canada via Greece

The director-general of civil aviation on Sunday gave the green signal to Jet Airways to resume its flights to and from the US and Canada via Athens in Greece from Monday, an official said in Mumbai. read more travel news..

NALCO to produce 1,000 MW as independent producer

State-owned National Aluminium Co Ltd (NALCO) said on Monday it will produce at least 1,000 megawatts power by 2016 as an independent power producer. read more business news..

Not chasing hot money prevents Indian banks to lapse: FM

Indian banks do not chase hot money and hence, don't fall prey to asset bubble, said Finance Minister Pranab Mukherjee on Sunday in Murshidabad district, West Bengal. read more banking news.

Volcanic ash further hampers European air traffic

A cloud of volcanic ash grounded a record number of flights in northern and central Europe Sunday, as repercussions continued around the world. read more travel news..

Handicrafts exports grow 60 pc in February

The nation's handicrafts exports have shown an impressive growth of over 60 percent in February due to growing demand for items in major global markets including the US and Europe. read more business news..

CII condoles the passing away of prof. C.K. Prahalad

In the passing away of Professor CK Prahalad, Paul and Ruth McCracken Distinguished University Professor, Ross School of Business, the University of Michigan, on April 16 in LA, USA, India and Indian Industry has lost a great Visionary and Strategist, a leading industry chamber, CII told media. read more news..

China gives $20 bn to Venezuela in exchange for fuel

China would provide $20 billion to Venezuela for a "large volume and long term" financing plan in exchange for more petroleum, Venezuelan President Hugo Chavez has said. read more business & political news..

Knitwear industry limping back to normalcy

The knitwear industry in Tirupur is on a recovery path. It has started limping back to normalcy after all the problems it faced in the wake of rupee appreciation, global slowdown and high cost of materials, besides the rise in dyeing charges. read more business news..