New bonus rules for British banks, more in store

It is payback time for British banks whose heavy risk-taking caused the country's worst financial downturn two years ago. New rules, led by cash caps on bonuses, are coming into force to make them more responsible to the general public. read more news..

US banking on emerging markets for faster recovery

The US has expressed confidence that it will continue to make fast recovery from the global economic crisis thanks to its ability to make goods that emerging markets like India and China need. read more news..

IOC against frequent fuel price revision

State-run oil marketing company Indian Oil Corp (IOC) Thursday said there will not be any revision in the oil price hike if global crude oil prices do not fluctuate wildly. read more news..

Exporters demand credit at base rate

The Federation of Indian Export Organisations (FIEO), the apex body of exporters, has urged the government to avail credit to exporters at the base rate itself, which is fixed between 7.75 percent to 8.25 percent by most of the banks under RBI's new base rate regime. read more news..

Rats threaten Hong Kong tourism

Rat attacks are becoming worse and worse in Hong Kong, which officials say might have an impact on the territory's image as a tourist haven. read more news..

Tata to commission 3 MW solar plant by year end

Tata Power will commission a 3 MW solar photovoltaic power plant in Mahrashtra by end of this year that will become the largest grid connected solar plant in the state. read more news..

Tribal affairs ministry promises more funds for northeast

More funds and development schemes for the northeastern states were promised as Tribal Affairs Minister Kanti Lal Bhuria wrapped up his three-day visit to the region Wednesday. view more news..

Telecom operators concerns referred to internal committee

The government Wednesday referred the objections raised by telecom operators to the recent recommendations of the regulator, including a controversial move to charge players holding spectrum in excess of 6.2 Mhz, to an internal Committee of the department of telecommunications (DoT). read more news..

Food inflation eases to 12.63 percent but fuel prices up

India's annual food inflation dropped to 12.63 percent for the week ended June 26 from previous week's 12.92 percent with the easing of prices of food items. read more news..

EPCH plans exclusive SEZ for handicrafts sector

In order to support small and medium enterprises (SMEs) exporting handicrafts, the Export Promotion Council for Handicraft (EPCH) is planning to set up an exclusive SEZ for handicrafts at Greater Noida, Uttar Pradesh or in Haryana, said Raj Kumar Malhotra, Chairman, EPCH at a press conference in New Delhi on Wednesday. read more news..

Agricultural Bank of China on track for record IPO

The Agricultural Bank of China Ltd is on track to attract a record $22.1 billion after pricing its initial public offering in Shanghai and Hong Kong, reports said Wednesday. read more news..

Audi to manufacture its SUV - Q5 in India

German luxury car manufacturer Audi on Wednesday began assembling its sports utility vehicle (SUV) Q5 at its Aurangabad (Maharashtra) manufacturing plant. read more news..

India can play big role in organic food trade

India can play a significant role in global organic food trade, Agriculture Minister Sharad Pawar said in New Delhi on Wednesday. read more news..

BJP opposes FDI in multi-brand retail

The Bharatiya Janata Party (BJP) on Wednesday warned the government against taking any "hasty steps" to further open up the retail sector and called for a "blanket ban" on foreign direct investment in multi-brand retail. read more news..

Car sales pick up 31 percent in June

Domestic passenger car sales increased by 30.79 percent to 1,41,184 units in June compared to 1,07,948 units in the same month last year, said the Society of Indian Automobile Manufacturers (SIAM) on Thursday. read more news..

India and Iran talks on economic cooperation today

India and Iran will hold two-days of talks on expanding bilateral economic cooperation, beginning in New Delhi on Thursday. read more news..

India and Malaysia trade pact likely by September

India and Malaysia Wednesday said that the Comprehensive Economic Cooperation Agreement between the two countries is expected to be ready by September, in time for Indian Prime Minister Manmohan Singh's visit Malaysia in November this year. read more news..

India will grow at 9.50 percent this year: IMF

India's growth will accelerate to about 9.50 percent in 2010 as robust corporate profits and favourable financing conditions fuel investment, and then settle to 8.50 percent in 2011, according to International Monetary Fund (IMF) projections. read more news..

Andhra Pradesh cooperative banks join together to save on automation

Twenty three cooperative banks in Andhra Pradesh have hit upon a novel idea of using single core banking solution (CBS) and save on hardware and software costs. read more news..

SJVNL net profit in 2009-10 at Rs.972 crore

Hydropower major Satluj Jal Vidyut Nigam Ltd (SJVNL), which owns and operates the 1,500-MW Nathpa-Jhakri project in Himachal Pradesh, Tuesday reported a net profit of Rs.972.74 crore for the 2009-10 fiscal. read more news..

Maoist strike hits iron ore shipment in Chhattisgarh

The two-day shutdown by the Communist Party of India-Maoist (CPI-Maoist) that began Wednesday hit life in Chhattisgarh's vast interiors, particularly in Bastar region where iron ore transportation was hindered. read more news..

Mining area in nine coal mines increased

The environment minister has agreed to increase the "go area", or forest area where coal mining is allowed in nine collieries in the country provided they meet the environment clearance. read more news..

Increase ICT adoption by SMEs a challenge: Dinesh Rai

It is a challenge for the government to increase the use of Internet and Communication Technology (ICT) among the Small and Medium Enterprises (SMEs) in the country, said the Secretary, Ministry of MSME, Dinesh Rai on Tuesday. read more news..

Toyota investing Rs.500 crore for engine plant in India

Japanese auto major Toyota Motor Corporation (TMC) is investing an additional Rs.500 crore (Rs.5 billion) in India to set up an engine plant for its upcoming compact car Etios, a top company official said Tuesday. read more news..

Shipping Ministry to set up port freight corridor in West Bengal

A port freight corridor, including a deeper-draught port, will come up in West Bengal, Minister of State for Shipping Mukul Roy said in Kolkata on Tuesday. read more news..

World Bank to assist livelihood project in northeast India

The World Bank will provide Rs.5 billion to four north eastern states of Mizoram, Nagaland Sikkim and Tripura to create self-employment opportunities for the tribals and poor people living in rural and remote areas. read more news..

Congress seeks CBI probe into iron ore export scam

The opposition Congress party Tuesday claimed Rs.600 billion worth of iron ore has been exported illegally from Karnataka in the last few years and sought a probe by the Central Bureau of Investigation (CBI) into the matter. read more news..

Net direct tax collection up 15.49 percent in Quarter 1

The net direct tax collections for the first quarter of 2010 saw an increase of 15.49 percent as compared to the same period last fiscal, an official statement said Tuesday. read more news..

Bangladesh promises higher pay to garment workers

Bangladesh Prime Minister Sheikh Hasina has promised an early pay revision for the country's ailing garment sector, saying the current pay scales were "too little to meet the basic needs of life". read more news..

India Inc finds QIPs quicker in raising capital

In the absence of virtually no regulatory approvals, India Inc. has drawn up elaborate plans to raise a whopping amount of over Rs. 40,000 crore through Qualified Institutional Placement (QIP), an instrument which the industry has found as a quick way to cash in upon the secondary market revival, a new study said. view more news..

B2B portals can help SMEs prosper

Without doubt, B2B portals today offer many opportunities for SMEs to grow and prosper. B2B portals are about networking businesses, introducing collaborative business practices and streamlining business processes. read more news..

Industry's hiring activities pick up 21% in June

The number of staff appointments by the Indian industry grew by 21 percent in June this year compared to the year-ago period, led by the improving business sentiment, according to a new report by an online job portal. read more news..

RBI may go for another rate hike: Economists

The Reserve Bank of India (RBI) may go for another hike in its key short-term lending and borrowing rates on July 27 to tame rising inflation, said economists. read more news..

UAE seeks investment in non-oil sector

The United Arab Emirates (UAE) has decided to promote investment in non-oil sectors to boost the country's economic diversification process. read more news..

Government seeks feedback on FDI in multi-brand retail

Close on the heels of a partial deregulation in fuel prices, the government Tuesday made another move to push through a key reform, releasing a discussion paper inviting views of various stakeholders on opening up the retail sector. read more news..

Fuel price hike won't impact inflation: Pranab Mukherjee

Finance Minister Pranab Mukherjee Tuesday said that the hike in fuel prices was introduced after considering various factors and that it would not cause any surge in inflation. read more news..

FM urges bank to focus on micro verticals and MSEs

Finance Minister Pranab Mukherjee Tuesday asked banks and financial institutions to increase credit flow to various productive sections of the society including small farmers, students and micro entrepreneurs and the micro & small & medium enterprises (MSEs). read more news..

Air China launches new PhoenixMiles promotion

Air China's PhoenixMiles frequent flyers can now receive extra frequent flyer rewards when they purchase tickets. An additional 500 kilometers are awarded to those who purchase domestic flights and an additional 2 kilometers for every 10 RMB are awarded to those who purchase international flight tickets. Meanwhile, 1000 kilometers can now be traded for 30 yuan ticket coupons. read more news..

President calls for better delivery of welfare schemes

President Pratibha Patil Monday called for making delivery systems more effective and non-corrupt to ensure that the benefits of welfare programmes reach all segments of society. read more news..

Government mulling to set up more textile parks

The government is considering setting up a few textile parks in the country following "a huge demand" for them, said Union Minister of Textiles, Dayanidhi Maran on Saturday. view more news..

China projects won't affect Brahmaputra water flow: Minister

China has told India it will only carry out 'run-of-the-river' projects on the Brahmaputra that will not affect the flow of water, says Water Resources Minister Pawan Kumar Bansal. read more news..

Anand Sharma to lead CEOs delegation to Malaysia and Singapore

Commerce and Industry Minister Anand Sharma will lead a CEOs delegation of the Confederation of Indian Industry (CII) to Malaysia and Singapore from 7 to 9 July, as a follow up to Malaysian Prime Minister's recent visit to India and the implementation of India-ASEAN FTA from January this year. read more news..

UAE to export camel milk to Europe

The UAE is planning to export camel milk to Europe next year after the European Commission, the executive body of the 27-member European Union (EU), gives its approval. read more news..

Toyota recalls 91903 Lexus and Crown vehicles

Toyota Motor Corp filed Monday for a recall of 91,903 units of its luxury Lexus and Crown models with the Transport Ministry due to an engine defect, the company said. read more news..

Mozambique next investment destination for India

The Confederation of Indian Industries (CII), which has sent a 25 member delegation accompanying External Affairs Minister S M Krishna to Mozambique, said that the country is the next Investment destination for the Indian industry. read more news..

EPCH to organise jewellery exhibition July 9-11

The Export Promotion Council for Handicrafts (EPCH) will hold a special show July 9-11 in the national capital region as part of its efforts to tap the $16.3 billion world market of fashion jewellery and accessories. read more news..

Indian packaging firm eyes African market

India's leading flexible packaging company UFLEX is all set to make ambitious forays into Africa with its state-of-the-art plant in Egypt starting production this month. view more news..

Textile exporters facing tougher competition in US

Indian textile exporters are facing stiffer competition in the US market from countries like China, Indonesia, Vietnam and Bangladesh, findings of a new report by the Federation of Indian Chambers of Commerce and Industry (FICCI) indicate. read more news..

NDA Left countrywide bandh hits normal life

Life in many parts of the country has been disrupted with non-Congress political parties enforcing a nationwide bandh against the increase in food and fuel prices. read more news..

UAE and Ireland agree on tax break for investors

The United Arab Emirates has signed an agreement with the Republic of Ireland to give tax relaxation to the investors of each other's country. view more news..

Two Anil Ambani group firms propose merger deal

The boards of two energy firms belonging to the Reliance Anil Dhirubhai Ambani Group (ADAG) -- one in the business of generating power and the other that trades and transports oil and gas -- Sunday approved their merger in a $11-billion all-stock deal. read more news..

Finance Minister brushes off fuel price roll back

A day before a countrywide shutdown called by opposition parties, including the Left, on the fuel price hike, union Finance Minister Pranab Mukherjee Sunday brushed off any suggestions of a roll back and said the political parties could decide how they wanted to protest. view more news..

We are not against growth: RBI

The Reserve Bank of India Sunday defended its decision to raise key short-term lending and borrowing rates to contain inflation, refuting the argument that the apex bank and the finance ministry are working towards divergent policy goals. read more news..

China raises 2009 growth rate to 9.1 percent

China Friday raised its growth estimate for 2009 to 9.1 percent from 8.7 percent announced earlier, signifying a stronger economic recovery from the global downturn. read more news..

Infrastructure sector needs $90 billion in 5 years: Kamal Nath

Road Transport and Highways Minister Kamal Nath Friday said India's infrastructure sector needs $90 billion investment in the coming five years. read more news..

Government may intervene if crude oil prices turn volatile: Deora

The central government will step in to regulate the decontrolled price of petrol if crude oil rates turn highly volatile in the international markets, Petroleum and Natural Gas Minister Murli Deora Friday said. read more news..

RBI hikes key interest rates by 25 basis points

India's central bank on Friday has hiked key interest rates by 25 basis points with immediate effect in an attempt to contain soaring inflation, which could make housing and auto loans costlier. read more news..

RBI policy rate hike desirable: Pranab Mukherjee

Finance Minister Pranab Mukherjee Friday called the Reserve Bank of India's (RBI) decision to raise key policy rates "desirable", even as a leading industry body voiced concern over the increase in cost of borrowing for corporates. read more news..

Dream of flying car soon to become reality

A car which can fly if caught in a traffic jam is soon to become a reality as the US aviation authority has given its nod for commercial production of "ligth sport" aircraft. read more news..

China allows duty-free access to Bangladeshi goods

Beginning Thursday, China will provide duty-free entry to major Bangladeshi products with an aim to offset the annual trade gap of $2.5 billion. read more news..

Future Generali to open 100 new branches

Private life insurer Future Generali India will expand its distribution network by opening around 100 branches and sign up bancassurance deals to close this year with a fresh premium of Rs.1,200 crore, a top company official said Wednesday. read more news..

Nagarjuna leads race for India-Nepal border check post project

A joint venture between Indian construction major Nagarjuna Construction Company and Mumbai's inter-border check post specialist KS Softnet Solutions is leading the race for a government of India-funded Rs.87 crore project on the India-Nepal border. read more news..

TVS Motor logs 36 percent sales growth in June

Two wheeler manufacturer TVS Motor Company has clocked a 36 percent increase in sales last month as compared to the volume it logged in June 2009. read more news..

Exports continue to surge, up 35 percent in May

Merchandise exports in May rose by 35 percent to $16.14 billion compared to $11.9 billion in the year-ago period, the government said in New Delhi on Thursday. read more news..

Delhi moves to issue unique identification numbers

The Delhi government Wednesday said it had signed a pact with the Unique Identification Authority of India (UIDAI) to start rolling out identification numbers for residents in the city. read more news..

Government forms panel to study impact of proposed mines in Orissa

The government has formed a four-member committee to consider and make recommendations on the impact of plans to divert 660.749 hectare of forest land for bauxite mining in Orissa's Kalahandi and Rayagada districts, a statement said Wednesday. read more news..

SBI staff calls for two-day strike in WB from July 5

The State Bank of India (SBI) Staff Association in West Bengal on Wednesday called a two-day strike from July 5, which would affect operations in around 800 branches and 3,000 ATMs. read more news..

TRAI proposes 74 percent foreign investment in DTH

India's broadcasting industry watchdog Wednesday recommended increasing the cap on foreign investment in direct-to-home services from the current 49 to 74 percent. view full article..

Food inflation cools down to 12.9 percent

India's annual food inflation slowed to 12.9 percent for the week ended June 19 due to what analysts said a weakening base effect. read more news..

UAE's non-oil trade up 7 percent in April

The UAE's non-oil foreign trade grew by 7 percent to Dh 56.04 billion (around $15 bn) in April this year as compared to Dh 52.34 billion in 2009. read more news..

Tribunal to recover damages from Coke in Kerala

A tribunal will be set up to recover Rs.216.26 crore from Coca-Cola for the socio-economic damage caused by its bottling plant in Palakkad that has now been shut down, Chief Minister V.S. Achuthanandan said Wednesday. The soft drink giant, however, maintained that it had done no wrong. read more news..

Yahoo to buy back stocks worth $3 billion

Yahoo wants to decrease the number of its shareholders and will buy back up to $3 billion in stocks over three years, the internet search company said Wednesday after its board approved the move at its recent annual meeting. read more news..

Honda recalls cars in China due to airbag defects

Japanese car-maker Honda has decided to recall its Civic and Stream models sold in China due to airbag defects, fearing it could cause injury to the vehicle occupants, China's quality inspection authorities said. read more news..

SMEs and big players to give economy China's strength

Indian democracy and its well-balanced economic system, powered both by small & medium enterprises (SMEs) as well as big players, exports as well as domestic demand, may soon push the nation' economy to catch up with China's pace of growth, says noted French economist Guy Sorman. read more news..

Romania to lay off 60000 in public sector

In a bid to cut administrative costs, the Romanian government has decided to lay off 60,000 public sector employees. read more news..