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Indian chemicals industry set to grow at 15 percent a year

Mumbai, Nov 26 : The government Wednesday said that the chemical industry is expected to grow at 15 percent per annum over the next few years.


Tech Mahindra launches telematics-based solution for auto insurers

Chennai, Nov 26 : Software developer Tech Mahindra Ltd. Wednesday announced the launch of usage-based insurance (UBI) solution, a big data and predictive analysis driven platform for auto-insurers.


Sony Pictures suffers cyber attack

London, Nov 26 : Sony Pictures Entertainment has become the victim of a large-scale cyber attack.


Honda Cars to post third consecutive year of growth

Indore, Nov 26 : Automobile manufacturer Honda Cars India Wednesday said it has witnessed strong sales and will be posting the third consecutive year of growth.


Usha International launches Silai School Programme in Bhutan

Thiruvananthapuram, Nov.26 : Usha International ltd, one of India's leading household consumer durables company, today announced the launch of the Usha Silai School Programme in Bhutan in association with Tarayana Foundation, a non-profit organization working towards improving the quality of the lives of vulnerable individuals and communities in Bhutan.


NEC India deploys advanced face recognition security solution at Aero City's Lemon Tree Hotel

New Delhi, Nov.26 : NEC India Pvt. Ltd., a leading network and IT solution provider, along with NEC Corporation, completed the deployment of a high performance Face Recognition Solution (FRS) at the Lemon Tree Premier Hotel in the Delhi Airport complex recently.


HP nets 2 billion dollars in Q4

Washington, Nov 26 : Hewlett-Packard has netted an income of 2 billion dollars or 70 cents per share in the fourth quarter, an earnings report released by the company said.


Sensex makes gains; FMCG stocks rise

Mumbai, Nov 26 : A day after it plunged 162 points or 0.57 percent, a benchmark index of Indian equities markets was trading 79.12 points or 0.28 percent up in the mid-afternoon trading session Wednesday.


Japan's Nippon to hike stake in Reliance asset management arm

Mumbai, Nov 26 : Japan's Nippon life has decided to increase its stake in the asset management company of Anil Ambani-led Reliance Capital to 49 percent from 26 percent, taking its valuation to $1.2 billion, the company said Wednesday.


Japan's Nippon to hike stake in Reliance asset management arm

Mumbai, Nov 26 : Japan's Nippon life has decided to increase its stake in the asset management company of Anil Ambani-led Reliance Capital to 49 percent from 26 percent now, the company said Wednesday.


China's AliBaba to invest more in India

New Delhi, Nov 26 : Chinese e-commerce giant AliBaba's founder and executive chairman Jack Ma Wednesday said he wanted to invest more in India.


Money transactions via Bitcoin not safe

London, Nov 26 : Researchers have shown that money transactions via Bitcoin network do not protect user's IP address and it can be linked to the user's transactions in real-time.


US urges India to look beyond IPR in affordable healthcare

New Delhi Nov 25 : India was Tuesday urged by the US to look beyond intellectual property rights (IPR) and compulsory licensing in affordable healthcare, and to address concerns like tariff reduction, distribution of medicines and insurance coverage.


Adani group to expand Dhamra port cargo handling capacity

Kolkata, Nov 25 : Eyeing an increased 100 million tonne cargo capacity by 2020, the Dhamra Port Company Limited - owned by the Adani Group - Tuesday announced it would pump in around Rs. 7,000 crore for expanding the cargo handling facility, an official said.


Private telecom firms utilising less green energy projects: Prasad

New Delhi, Nov. Nov 25 : The private sector telecom companies have executed only a small number, around 3,400, of Renewable Energy Technology (RET) projects, Communications and IT Minister Ravi Shankar Prasad told parliament Tuesday.


India Cements share cracks, slides nine percent

Chennai, Nov 25 : Shareholders of cement major India Cements Ltd Tuesday saw their stock value going down by around nine percent to close at Rs.95.35 per share.


E-toll collection to enable fuel savings worth Rs.86,000 crore: Gadkari

New Delhi, Nov 25 : Road Transport and Highways Minister Nitin Gadkari Tuesday said that the country can expect to save Rs.86,000 crore annually after electronic toll collection (ETC) system becomes operational pan-India by December.


Kotak Mahindra Bank to foray into general insurance business

Chennai, Nov 25 : Private sector Kotak Mahindra Bank Ltd Tuesday announced its plans to enter the general insurance segment following the approval from Reserve Bank of India (RBI).


India needs to grow at 7-8 percent: MoS Finance

New Delhi, Nov 25 : Minister of State for Finance Jayant Sinha Tuesdsay said that the country needs to achieve high growth rate in the range of 7-8 percent per year to create more job opportunities and to strengthen the currency.


BEL delivers upgraded air defence system to army

Bengaluru, Nov 25 : State-run Bharat Electronics Ltd (BEL) Tuesday delivered the first upgraded Schilka air defence weapon system to the Indian army, three years after it signed the contract following evaluation of the prototype system in March 2011.


Jan Dhan Yojana collection touches Rs.6,000 crore

New Delhi, Nov 25 : Banks in India have opened around 7.9 crore accounts under the Pradhan Mantri Jan Dhan Yojana (PMJDY) and collected over Rs.6,000 crore, an official statement said Tuesday.


Slowdown expected during second quarter: ICRA

New Delhi, Nov 25 : Ratings firm ICRA Research Tuesday maintained its forecast of India's growth during the current fiscal at 5.3-5.5 percent but predicted a slower pace of economic activity in the second quarter of 2014-15.


Emirates luanches new limited period sale offer

New Delhi, Nov 25 : Dubai-based airlines Emirates Tuesday announced a limited period sale offer on all its economy and business class fares to US and Europe from 10 Indian destinations.


Maruti's 'Wagon R' sales crosses 15 lakh units

New Delhi, Nov 25 : Passenger car market leader Maruti Suzuki Tuesday said that sales of its Wagon R compact hatchback have crossed 15 lakh units.


Andhra plans separate cell for Japanese investors

Hyderabad, Nov 25 : Andhra Pradesh plans to set up a separate cell for online clearance of investment proposals from Japanese firms.


Samsung Galaxy S5 sales were 40 percent less than projected in 3 months since launch

Washingotn, Nov 25 : Samsung has sold 12 million units of Galaxy S5 in its first three months on sale, almost 40 percent less than projected.


Sensex touches new intra-day high, but closed in red

Mumbai, Nov 25 : A day after a benchmark index of Indian equities markets touched a new record, the barometer slipped by 162 points or 0.57 percent in Tuesday's trade.


Wayne Burt in talks to acquire power, chemical firms in India

Chennai, Nov 25 : Wayne Burt Capital, a deep value fund backed by US and European private equity funds, is in talks to acquire majority stake in thermal power and two chemical companies in India with an investment kitty of around $100-150 million, said a top company official.


US keen to help in developing three smart cities

New Delhi, Nov 25 : Urban Development Minister M. Venkaiah Naidu Tuesday said that consultations would be expedited with the US which has expressed interest in assisting in the development of Visakhapatnam, Ajmer and Allahabad as smart cities.


Ricoh India, TCIL bag Rs.1,370 crore order from posts department

New Delhi, Nov. Nov 25 : Ricoh India along with Telecommunications Consultants India (TCIL) has won Rs.1,370 crore order from department of posts, a company statement said here Tuesday.


Coca-Cola to bring new kind of milk to stores that will 'rain money'

Washington, Nov 25 : Coca-Cola is planning to release its own brand of milk nationwide in late December, which will become so popular that it will "rain money," it has been revealed.


NSEL, FTIL merger after stakeholders' suggestions: Jaitley

New Delhi, Nov 25 : The government has issued only a draft order on amalgamating National Spot Exchange Ltd. with Financial Technology and if required, the final order will be issued after considering suggestions submitted by the stakeholders, parliament was told Tuesday.


Expert panel to review e-forms: Arun Jaitley

New Delhi, Nov 25 : The government has constituted an expert committee to review e-forms and other overall filing process, in order to simplify procedures for stakeholders, Minister of Corporate Affairs Arun Jaitley said here Tuesday.


BHEL to set up 500 MW solar power project

New Delhi, Nov 25 : The heavy industries ministry is preparing to take cabinet approval for a 500-MW solar power project to be set up by state-run heavy electricals major BHEL.


Sensex, Nifty touch new high, but close in red

Mumbai, Nov 25 : A day after a benchmark index of Indian equities markets touched a new record, the barometer provisionally slipped by 162 points or 0.57 percent in Tuesday's trade.


Sweden keen to promote healthcare ties with India

New Delhi, Nov 25 : A Swedish minister Tuesday said his country was keen to work with India in healthcare and suggested that Indian healthcare institutions can make New Delhi a global medical hub.


Lockheed Martin receives designs under varsity challenge

New Delhi, Nov 25 : Global security and aerospace company Lockheed Martin Tuesday said that it has received conceptual designs to develop cargo aircraft modules for disaster relief operations under the university design challenge from India.


Viber launches Public Chats in India

New Delhi, Nov 25 : Buoyed by the fast growing number of users in India, the mobile communications app, Viber, offering free messaging and calls, Tuesday launched new feature Public Chats in India, a top company official said here.


OPEC daily basket price closes tad higher

Vienna, Nov 25 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed tad higher at $75.70 a barrel Tuesday compared to $75.42 Monday, the OPEC Secretariat said.


Waste treatment machine launched at trade fair

New Delhi, Nov 25 : In a renewable energy spinoff to Prime Minister Narendra Modi's 'Clean India' campaign, a group of IIT alumni has launched a waste management machine that processes the wastes with renewable energy and then produces bio-manure and bio-gas.


Mercedes-Benz launches new C-Class at Rs.40.90 lakh

New Delhi, Nov 25 : German luxury automobile manufacturer Mercedes-Benz Tuesday launched the new generation version of its C-Class in India priced at Rs.40.90 lakh (ex-Showroom Delhi).


Sensex trades flat; banking stocks down

Mumbai, Nov 25 : A benchmark index of Indian equities markets Tuesday was trading flat at 8.96 points or 0.03 percent down as banking stocks dropped.


Aviators firm to provide air ambulance services

Bengaluru, Nov 24 : Indian national operator Aviators Air Rescue Ltd will provide air ambulance services across the country using Airbus helicopters in partnership with the US-based Air Medical Group Holdings Inc, the company said Monday.


India, US pact on WTO food security a big deal: US trade rep

New Delhi, Nov 24 : Ahead of the first ministerial-level meeting of the Trade Policy Forum (TPF) in four years, the Trade Representative (USTR) Michael Froman Monday described as a "big deal" the recent agreement with India on the World Trade Organization's Trade Facilitation Agreement (TFA) aimed at easing custom rules.


Our outgoings costs are much more than tariff, BSES tells SC

New Delhi, Nov 24 : Power discoms BSES Rajdhani and Yamuna Monday told the Supreme Court that there was a mismatch in the cost of the power supplied by it to the consumers in the national capital and the tariff it was getting for the same, leaving a big revenue gap.


Adani Power buys Avantha's 600 MW Chhattisgarh unit

Ahmedabad, Nov 24 : Adani Power Monday said it has entered into a binding agreement with the Avantha Group to purchase its 600 MW Korba West unit in Chhattisgarh for over Rs.4,200 crore.


Bharti Airtel sells 4,800 telecom towers in Nigeria to American Tower Corporation

New Delhi, Nov 24 : Bharti Airtel has sold over 4,800 telecom towers in Nigeria to American Tower Corporation, a joint statement by the companies said here Monday.


Telecom regulator reiterates its recommendations for airwave auction

New Delhi, Nov 24 : India's telecom regulator Monday said there will be no change in the recommended reserve prices for spectrum in the 900 MHz and 1800 MHz bands for the upcoming auction scheduled in February 2015.


Narayana acquires Westbank Hospital in Bengal

Bengaluru, Nov 24 : Leading multi-specialty tertiary care hospital Narayana Health Monday announced the acquisition of two units of Westbank Hospital at Howrah near Kolkata in West Bengal for an undisclosed sum.


Essar Steel raises $1 bn through export securitisation

Mumbai, Nov 24 : Essar Steel Monday said that it has raised $1 billion through long-term export securitisation which it will use to pre-pay existing rupee debt under its strategy to dollarize its balance sheet.


Google to host online shopping festival Dec 10-12

New Delhi, Nov 24 : Google India is all set to host its third edition of its "Great Online Shopping Festival" (GOSF) between Dec 10-12, a company statement said here Monday.


India has highest coal royalty, end-use conditions: Naveen Jindal

New Delhi, Nov 24 : India not only has the highest royalty on coal among other countries, but the government also takes an assurance for using the produce in end-use projects, Jindal Steel and Power chairman Naveen Jindal said with reference to the Supreme Court's recent cancellation of 214 coal block allocations.


IRDA wants Jan Bima Yojana for increased insurance penetration

Mumbai, Nov 24 : In order to increase insurance penetration and also agents productivity, the government should promote Jan Bima Yojana for the poor and also relaxing the cap on agency commission, India's insurance regulator said Monday.


Sensex, Nifty touch record highs

Mumbai, Nov 24 : Positive foreign and local cues helped a benchmark index of Indian equities markets touch a new record high of 28,514.98 points Monday.


BMW launches petrol-powered M5 sedan at Rs.1.35 crore

New Delhi, Nov 24 : German luxury automobile manufacturer BMW Monday launched the petrol-powered high-performance sedan M5 in India, priced at Rs.1.35 crore (ex-showroom)


Xiaomi launches Redmi Note variants in India

New Delhi, Nov. Nov 24 : Chinese handset maker Xiaomi Monday launched its 5.5-inch smartphone Redmi Note for Rs.8,999 in India with its 4G variant priced Rs.9,999, a company statement said here.


Sensex, Nifty touch record highs on foreign, local cues

Mumbai, Nov 24 : Positive foreign and local cues helped a benchmark index of Indian equities markets touch a new record high of 28,514.98 points Monday.


Reliance Comm launches TalkLoan for pre-paid GSM customers

New Delhi, Nov 24 : Reliance Communications, part of the Anil Ambani-led group, has launched TalkLoan service for its pre-paid GSM customers to allow them make urgent calls in case of insufficient balance, the company announced Monday.


India can build $10 tn economy by 2034: PwC

New Delhi, Nov 24 : Launching a report on transformational change in India, PricewaterhouseCoopers (PwC) Monday said India has an opportunity to build a $10 trillion economy by 2034 with a growth rate of 9 percent per annum.


Indian equity bulls shouldn't anticipate further crude price decline (Currency Corner)

By Vatsal Srivastava : Oil is in a bear market. Over the past few months, both major crude benchmarks - Brent and Western Texas Intermediate (WTI) - have corrected by over 25-30 percent from their 2014 peak. Interestingly, and as it often happens in the financial markets, the timing of this plunge has surprised many. The fundamental factors behind the drop in oil prices—easing - geopolitical tensions, slowing economic growth, especially in the Euro area and China, the Libyan output hitting the supply market again and the US shale oil revolution (the dominant factor) — could have been factored in well before and the plunge could have been smoother and more gradual, unlike the kind of capitulation we are witnessing now.


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