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Home » Business India News You are browsing entries filed in “Business India News”

China tops India in gold demand for second quarter

MUMBAI: China’s gold demand surpassed India’s for the second successive quarter, growing at an annual rate of 10% to 255.2 tonne in the January-March 2012 period while sales in India contracted 29% to 207.6 tonne, data from the World Gold Council (WGC) showed. India’s gold jewellery demand of 152.0 tonne also lagged China’s 156.6 tonne in the quarter, WGC […]

May 18th, 2012 | Posted in Business India News | Read More »

Facebook IPO mania: Guess who’s cashing out?

New York: Insiders and early Facebook investors are taking advantage of increasing investor demand and selling more of their stock in the company’s initial public offering, the company said Wednesday. Facebook said in a regulatory filing that 84 million shares, worth up to $3.2 billion, are being added to what’s shaping up to be the decade’s […]

May 17th, 2012 | Posted in Business India News | Read More »

Majority of new potential fallen angels from India: S&P

An S&P report on 15 global fallen angels so far in 2012, from emerging and developed markets, says Indianbanks increased the total count. The 15 fallen angels accounted for $192.9 billion in rated debt. The number of global fallen angels is 15 so far in 2012 (through May 8), according to a report published today by […]

May 17th, 2012 | Posted in Business India News | Read More »

Rupee recovers from record low, up 27 paise against USD

MUMBAI: After plunging to a record low yesterday, the rupee recovered 27 paise to 54.23 against thedollar on the Interbank Foreign Exchange market in early trade today on selling of the greenback by banks. Besides sale of dollars by some banks and a higher opening in equity markets, gains in the euro overseas against the American currency supported the rupee, dealers said. […]

May 17th, 2012 | Posted in Business India News | Read More »

India’s plan to cut Iran oil is likely to ease US pressure

New York: India will win breathing room after Minister of State for Petroleum and Natural Gas RPN Singh told the Rajya Sabha on Tuesday that refiners are targeting an 11 percent overall reduction in crude imports from Iran this fiscal year. The announcement came as Carlos Pascual, the US special envoy who has been negotiating […]

May 16th, 2012 | Posted in Business India News | Read More »

Palanimanickam’s statement spooks market again

NEW DELHI: Minister of state for finance S S Palanimanickam appears to have a special skill of spooking the stock market while replying to questions from lawmakers in Parliament. On Tuesday, shares of Bharti Airtel fell about 5% soon after Palanimanickam informed Rajya Sabha that the Enforcement Directorate was investigating the leading telecom operator under provisions of the Prevention of Money […]

May 16th, 2012 | Posted in Business India News | Read More »

Rupee tests 54 level, Reserve Bank of India pulls it back

“Reserve Bank of India’s measures have been able to curb the volatility, but they have not been able to reverse or stop the trend. I think the rupee could fall below its low of 54.3 given that inflows are negligible,” said Hariprasad , vice-president and head of treasury at Centrum Direct . He added that […]

May 16th, 2012 | Posted in Business India News | Read More »

Shinde writes to PMO over new coal supply pact

As the uncertainty over coal supplies continues, the Power Ministry has sought the Prime Minister’s Office (PMO) intervention to resolve the issues related to Coal India’s new fuel supply agreement.   With most of the power producers having reservations about certain clauses, including those related to penalty in the revised Fuel Supply Agreement (FSA) put […]

May 14th, 2012 | Posted in Business India News | Read More »

Infosy’s top management wage bill tops $10 million mark

BANGALORE: IT behemoth Infosys paid its top management a total remuneration of $10.7 million (over Rs 50 crore) during the last financial year, registering a 52% increase over the previous year, the company said in an annual regulatory filing with the US Securities and Exchange Commission (SEC). The Bangalore-headquartered IT firm said the remuneration paid to its key management personnel, which includes directors […]

May 14th, 2012 | Posted in Business India News | Read More »

AI crisis: DGCA issues notices to 11 IPG office-bearers

New Delhi/Mumbai: As the stalemate between Air India and agitating pilots entered the fifth day on Sunday, the DGCA tonight issued notices to 11 office bearers of Indian Pilots Guild(IPG) after the airline management sought cancellation of their flying licences. The 11 pilots have been given a week’s time to file their reply, sources in the […]

May 14th, 2012 | Posted in Business India News | Read More »

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