Top Business News- IBNLive.com

Sensex extends recovery after recent falls

Tue, 29 May 2012 03:43:52 GMT

The BSE Sensex and the NSE Nifty gained 0.6 per cent, extending the recovery after recent falls. Tata Motors gains 1.8 per cent ahead of earnings due later in the day.

Rupee fall won't hurt India's ratings: Moody's

Mon, 28 May 2012 21:34:25 GMT

Moody's Investors Service says the depreciating rupee will only have a "limited" impact on India's sovereign ratings, as only 7 per cent of total government debt is placed overseas, comprising 5 pct of gross domestic product.

Oil India eyes stakes in overseas assets

Mon, 28 May 2012 20:40:21 GMT

State-run Oil India is looking to buy stakes in US gas driller Chesapeake Energy Corp.'s Mississippi Lime basin and ConocoPhillips' oil sand assets in Canada, its head of finance said on Monday.

Panel to rationalise Air India's loss-making routes

Mon, 28 May 2012 20:21:29 GMT

Civil Aviation Minister Ajit Singh on Monday constituted a four-member panel to examine Air India's route profitability, even as the strike by pilots of the national carrier continued for the 21th day, taking its losses to more than Rs 300 crore (about $55 mn).

Sensex ends 199 pts up; SBI, BHEL top gainers

Mon, 28 May 2012 03:34:55 GMT

The BSE Sensex rose 1.33 per cent on Monday as an improved global risk sentiment spurred buying in financial stocks such as top lender State Bank of India and recently dented blue chips stocks.

We are not lenient with Kingfisher, says SBI

Mon, 28 May 2012 02:44:51 GMT

State Bank of India (SBI) on Monday said it is not lenient with Kingfisher Airlines and treats it at par with Air India and Jet Airways.

Pranab asks public sector banks to manage NPAs

Mon, 28 May 2012 02:31:09 GMT

Concerned over rising bad loans, Finance Minister Pranab Mukherjee on Monday asked the banks to take steps to manage their non-performing assets (NPAs) which have grown on account of economic downturn.

Coal India Q4 net profit down by 4.9 per cent

Mon, 28 May 2012 01:32:17 GMT

State-owned Coal India (CIL) on Monday reported a 4.9 per cent dip in consolidated net profit at Rs 4,013 crore for the fourth quarter ended March 31, due to higher staff expenses. The company clocked a net profit of Rs 4,220 crore during January-March quarter of FY 2010-11, the company said in a filing to BSE.

Air India board to discuss pilots' strike today

Mon, 28 May 2012 00:04:04 GMT

Air India board will meet in Mumbai on Monday to discuss the nearly three-week-old strike by over 200 pilots and a host of financial issues. Airline sources said the board is likely to consider the next steps to be taken to deal with the strike, spearheaded by the now derecognised Indian Pilots Guild.

Rupee fall won't hurt India's ratings: Moody's

Sun, 27 May 2012 22:45:15 GMT

Moody's Investors Service says the depreciating rupee will only have a 'limited' impact on India's sovereign ratings, as only 7 per cent of total government debt is placed overseas, comprising 5 per cent of gross domestic product.

Gold demand tepid as prices climb

Sun, 27 May 2012 22:41:57 GMT

Gold prices in India, one of the world's leading consumers, climbed on May 28 in line with firm global markets but the rise depressed physical demand just ahead of a lean season.

Airtel to roll out 3G in Rwanda in next quarter

Sun, 27 May 2012 20:27:22 GMT

Bharti Airtel said on Sunday it would roll out 3G services in Rwanda in the next quarter and reiterated plans to invest $100 million in the central African country.

RBI taking steps to check rupee slide: Pranab

Sat, 26 May 2012 20:41:52 GMT

Attributing the slide in rupee value to various domestic and global factors, Union Finance Minister Pranab Mukherjee on Sunday said the Reserve Bank was taking steps to arrest the currency's depreciation.

Citi unit lost $ 20 mn in Facebook IPO: Source

Sat, 26 May 2012 06:54:36 GMT

Citigroup Inc's Automated Trading Desk had trading losses of about $20 million from Facebook Inc's botched initial public offering on Nasdaq OMX Group Inc's US exchange, a source with knowledge of the situation said on Friday.

Indian economy is a resilient one: Pranab

Sat, 26 May 2012 05:18:50 GMT

Amid persisting global uncertainties, Finance Minister Pranab Mukerjee on Saturday said that India's domestic demand, high savings rate and regulatory mechanisms make it a resilient economy.

Oil price rollback will hurt India badly: Basu

Sat, 26 May 2012 02:40:44 GMT

Amid raging protests by parties cutting across the political spectrum for a partial rollback on the petrol price hike, Chief Economic Advisor Kaushik Basu has said that a rollback of any kind will hurt India's fiscal deficit target badly, leading to price increase in general.

No settlement in cases of insider trading: SEBI

Sat, 26 May 2012 01:36:54 GMT

Taking a tough stand on insider trading and other serious offences, market regulator SEBI on Friday decided to exclude these violations from the consent order, a window available for settling disputes on payment of a fee.

PM meets RBI chief, key advisers on rupee issue

Fri, 25 May 2012 22:23:33 GMT

Prime Minister Manmohan Singh on Friday reviewed the sharp decline in rupee value and its impact on the economy with RBI Governor D Subbarao and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Morality is not the responsibility of CEOs alone

Fri, 25 May 2012 07:25:28 GMT

Instead of rushing into more regulations, politicians and regulators should focus on removing ambiguity and advocating transparency.

Govt may soon take decision on FDI in aviation, retail

Fri, 25 May 2012 07:05:25 GMT

Amidst continuous depreciation of rupee and weak sentiments in the stocks market, the government is expected to soon push some of the key pending reforms like allowing foreign direct investment in multi-brand retail.

2G: Charges to be framed against Essar, Loop today

Fri, 25 May 2012 06:23:00 GMT

A Delhi Court will pronounce its order on Friday on farming of charges against Essar group and Loop Telecom promoters for allegedly committing offences of cheating and criminal conspiracy for obtaining the 2G spectrum licences from government.

Protests may delay diesel price hike

Fri, 25 May 2012 05:49:42 GMT

The UPA government came under intense pressure on Thursday from within the ruling coalition and protesters to roll back the steepest petrol price hike in the country's history, less than 24 hours after it took the unpopular decision cheered by investors.

Rupee down 27 paise against dollar

Fri, 25 May 2012 05:15:37 GMT

The rupee depreciated by 27 paise to Rs 55.92 against the American currency in early trade on Friday on stronger dollar against euro and Asian currencies.

There must be no petrol price rollback: Kaushik Basu

Fri, 25 May 2012 04:58:33 GMT

Chief Economic Advisor Kaushik Basu has said that a partial rollback in petrol prices will hit India's fiscal deficit target adversely.

Sensex closes flat; SBI, L&T up, RIL, ITC decline

Fri, 25 May 2012 04:11:06 GMT

The BSE Sensex and NSE Nifty closed flat on Friday after a sharply rally the day before on hopes of diesel price hike. Recovery in rupee and strength in European markets helped markets recoup losses in second half of trade.