Rupee touches new low of 52.15 per dollar
Posted Date : 22-Nov-2011 , 08:27:38 am | Posted By CASANSAAR
At the inter-bank foreign exchange market, the rupee sank 81 paise, to a over 32-month closing low of 52.15 against the dollar.The rupee fell on sustained dollar demand, and as domestic equities tumbled. The rupee has lost over 4 percent against the dollar in the last six trading sessions.The Financ...
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Motorola shareholders approve Google takeover bid
Posted Date : 18-Nov-2011 , 03:59:39 pm | Posted By CASANSAAR
Shareholders of Motorola Mobility Holdings Inc late Thursday approved a 12.5-billion-dollar takeover offer from Google Inc, gaining the internet giant a stronger foothold in the handset sector, and expanding its patent portfolio.
Motorola said shareholders voted with an “overwhelming majori...
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HSBC India unit client charged with US tax evasion
Posted Date : 18-Nov-2011 , 02:24:57 pm | Posted By CASANSAAR
A San Jose, California, man faces charges of tax evasion after failing to report $1.3 million in interest income from HSBC Holdings Plc's India unit, US prosecutors said on Thursday.Ashvin Desai hid as much as $8.8 million during 2009 in the India operations of the UK banking giant, prosecutors...
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Indian exports
Posted Date : 09-Nov-2011 , 08:08:59 am | Posted By CASANSAAR
Exports grew by 10.8 per cent to 19.9 billion US dollars in October this year. This is the lowest in the last two years.According to preliminary data released today, pushed by expensive crude oils and vegetable oils, imports grew at a faster rate of 21.7 per cent to 39.5 billion dollars leaving a tr...
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G 20 Summit takes on board India
Posted Date : 05-Nov-2011 , 08:33:25 am | Posted By CASANSAAR
The sixth G20 Summit at cannes has taken on board the concerns raised by India to combat black money. Prime Minister Dr. Manmohan Singh said the Canes Summit Communiqué has also endorsed India's call to ensure transparency in Banking sector, exchange of information to combat tax fraud and ill...
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Microsoft world's best company to work for: Great Places to Work Survey
Posted Date : 28-Oct-2011 , 04:55:27 pm | Posted By CASANSAAR
Software giant Microsoft has topped a list of the world's best multinational companies to work for, where all the top-ten positions have been bagged by American firms. Internet giant Google has been ranked at the fourth place in the list of compiled by human resources consultancy 'Great Place to ...
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India's richest getting poorer, says Forbes
Posted Date : 27-Oct-2011 , 09:52:16 pm | Posted By CASANSAAR
India's richest are getting poorer, according to Forbes, as falling stock prices, corruption scandals in Asia's third-largest economy and a global slowdown wiped 20 percent off the total value of the country's 100 wealthiest in the last year. Mukesh Ambani, head of Reliance Industries, India's ...
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International Business |
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Your private details on Facebook are at risk: Study
Posted Date : 27-Oct-2011 , 08:14:51 pm | Posted By CASANSAAR
Do you really know all your Facebook "friends"? Beware, if your answer is 'No', as researchers say you could be putting your private details at risk every time you say 'Yes' to an unknown friend request. A team at the University of British Columbia in Canada found a worrying way to evade Faceboo...
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Rajat Gupta pleads not guilty, released on $10-million bail
Posted Date : 27-Oct-2011 , 08:51:30 am | Posted By CASANSAAR
Former Goldman Sachs and P&G director Rajat Gupta appeared in a US court today after being arrested and was indicted on six criminal counts on securities fraud.
Gupta, 62, is accused of sharing confidential information with hedge fund manager Raj Rajaratnam, the Sri Lanka born found...
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India GDP growth to pip China: Ernst & Young
Posted Date : 26-Oct-2011 , 05:38:33 pm | Posted By CASANSAAR
India is expected to clock higher GDP growth than China in 2013-14. This has been stated in a report by Ernst and Young in its latest report. The forecast pegs India's GDP growth rate at 9.5 percent followed by nine percent by China in 2013. Similarly, the report says that India will record gro...
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EU leaders meet in Brussels to prevent financial crisis
Posted Date : 23-Oct-2011 , 03:43:22 pm | Posted By CASANSAAR
All the 27 European Union leaders are meeting in Brussels today to decide measures to prevent Europe's financial crisis from spiraling out of control. British Prime Minister is set to join the EU leaders. Ahead of the meeting in Brussels, German Chancellor Angela Merkel said she believed the leaders...
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EU debt crisis, US slowdown impacting India: Pranab Mukherjee
Posted Date : 23-Oct-2011 , 08:13:19 am | Posted By CASANSAAR
Debt crisis in Europe and slowdown in the US are having an adverse impact on India, but the fundamentals of the country's economy remain intact, Finance Minister Pranab Mukherjee said today. Addressing the National Development Council (NDC) meeting here, he said "while there may be some mode...
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Reserve Bank of India warns of another global financial crisis
Posted Date : 20-Oct-2011 , 12:00:06 pm | Posted By CASANSAAR
Reserve Bank of India (RBI) has warned of another financial crisis brewing, as global liquidity becomes a concern amidst central banks pegging their lending rates at near zero levels, leaving scope for another asset bubble to take down the global financial system. "There is, thus, incontrovertib...
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International Business |
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Govt unveils new policy to help PSUs buy overseas assets
Posted Date : 13-Oct-2011 , 08:23:10 pm | Posted By CASANSAAR
The government on Thursday unveiled a new policy which accords greater autonomy to profit-making PSUs in acquiring raw material assets abroad, and said it will also consider setting up a sovereign wealth fund."While some countries have already taken the lead in acquiring the sources of raw material ...
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Govt. announces package to offset impact of global financial meltdown
Posted Date : 13-Oct-2011 , 08:22:02 pm | Posted By CASANSAAR
Government has announced a package of over 900 crore rupees to cushion the exports and offset the impact of global financial meltdown in US and Europe. Commerce and Industry Minister Anand Sharma announced the new measures that are part of the annual supplement of the Foreign Trade Policy. The ...
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Apple's Steve Jobs, visionary leader, dead at 56
Posted Date : 06-Oct-2011 , 09:47:44 am | Posted By CASANSAAR
The co-founder of Apple Inc, one of the world's great entrepreneurs, was surrounded by his wife and immediate family when he died in Palo Alto, California. Other details were not immediately available.
His death was announced by Apple and sparked an immediate outpouring of sadness and sympathy fr...
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President calls for furthering Indo Swiss business momentum
Posted Date : 05-Oct-2011 , 08:52:02 am | Posted By CASANSAAR
The President, Mrs. Pratibha Devi Singh Patil today invited the Swiss government to be a partner in India's skill development mission. She said, the Indian Government has set up a target of training 500 million skilled personnel by 2022.
Mrs. Patil said that Switzerland can jointly contribute t...
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Google ranked world's No.1 employer
Posted Date : 03-Oct-2011 , 05:18:05 pm | Posted By CASANSAAR
Internet search giant Google has been ranked as the best company to work for by management and engineering graduates in two separate surveys, which term the company the world's "most attractive employer" of 2011.According to the survey conducted by global employer branding firm Universum, ...
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Moily calls upon NRIs to participate in India
Posted Date : 03-Oct-2011 , 08:01:53 am | Posted By CASANSAAR
The Minister for Corporate Affairs Dr M. Veerappa Moily has called upon Non-resident Indians to participate in the growth story of India as government is making business easy in the country with amending key laws and introducing positive changes to make business easy. Speaking to reporters afte...
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Indian bourses beat global leaders with CEO pay hike
Posted Date : 26-Sep-2011 , 08:42:26 am | Posted By CASANSAAR
The Indian stock exchanges may not rank high on international charts in terms of the volume of business done, but they have beaten global market leaders in terms of pay hikes given to their top executives.
The two largest stock exchanges of the world -- the NYSE Euronext and Nasdaq OMX...
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World economy enters 'dangerous new phase': IMF
Posted Date : 21-Sep-2011 , 08:20:44 am | Posted By CASANSAAR
The world economy has entered a ``dangerous new phase,'' according to the chief economist of the International Monetary Fund. As a result, the international lending organization has sharply downgraded its economic outlook for the United States and Europe through the end of next year. The IMF exp...
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Govt lifts ban on onion export
Posted Date : 20-Sep-2011 , 07:06:37 pm | Posted By CASANSAAR
Faced with strong protests from the farmers and a demand from the Maharashtra Government, the Government on Tuesday announced lifting of ban on export of onions with immediate effect.
The decision to permit exports of onions was taken by the Empowered Group of Ministers (EGoM) on Food headed by F...
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Global companies answerable to Indian consumer courts: SC
Posted Date : 19-Sep-2011 , 09:50:24 pm | Posted By CASANSAAR
International companies are answerable to Indian consumer courts for service deficiency, the Supreme Court has ruled, upholding the apex consumer forum's direction to a Lebanese international courier company to pay 71,615.75 US dollars compensation to a Mumbai-based firm. A benc...
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Govt unveils new duty draw back scheme to give incentives to exporters
Posted Date : 19-Sep-2011 , 08:30:20 am | Posted By CASANSAAR
The government has announced a new duty draw back scheme to give incentives to exporters. Speaking to media in New Delhi, Finance Secretary R S Gujral said the Duty Entitlement Pass Book (DEPB) Scheme for exporters will end after 30th of this month. The new scheme comes into force from 1st October.&...
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India slashes tax incentives for exporters
Posted Date : 17-Sep-2011 , 08:05:21 am | Posted By CASANSAAR
Tax incentives for exporters will be lowered from Oct 1 as the government said Friday it will do away with the popular tax refund scheme, Duty Entitlement Pass Book (DEPB), and bring them under an existing duty drawback scheme from the beginning of next month. At the same time, the number of...
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Gold price pushes foreign exchange reserves to $320.78 billion high
Posted Date : 11-Sep-2011 , 07:41:40 am | Posted By CASANSAAR
Foreign exchange (forex) reserves rose by $1.61 billion to hit an all-time high of $320.78 billion for the week ended Sep 2 on the back of nearly $3 billion jump in the value of gold reserves, official data showed. The forex reserves kitty has risen for the third consecutive week. The rese...
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Indian IT hiring down 49 pc in August amid US, Europe crisis
Posted Date : 05-Sep-2011 , 07:27:09 am | Posted By CASANSAAR
Recruitment by Indian IT companies witnessed a slowdown in the month of August, owing to the crisis in the US and Europe region, but the overall hiring mood in the country is upbeat, says a survey. It might take 2-3 months for recruitment activities in the IT sector to gain momentum, accordin...
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All eyes on Apple's new CEO Tim Cook to dish out next recipe for success
Posted Date : 29-Aug-2011 , 07:39:02 am | Posted By CASANSAAR
Tim Cook has big shoes to fill and he can't do it by just pushing out snazzier versions of the iPhone or iPad. Apples newly minted CEO needs a revolutionary product to prove he has the chops to succeed Steve Jobs, and that may be a full-on assault on the living-room space by as early as 2013,...
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Apple CEO Steve Jobs resigns: Now investors can focus on just how good Apple is
Posted Date : 25-Aug-2011 , 12:36:50 pm | Posted By CASANSAAR
Few companies are as indelibly linked to an individual as Apple is to Steve Jobs. Not only one of the founders, he led the company from near bankruptcy to become one of the most valuable companies in the world. News on Wednesday of his retirement from running day-to-day operations is a blow -...
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India holds 40% of Dubai export market
Posted Date : 20-Aug-2011 , 11:59:47 am | Posted By CASANSAAR
Dubai export markets by value are highly concentrated in India and Switzerland, comprising 40 per cent and 20 per cent, respectively, a government agency has said. According to Dubai Exports, an agency of the Department of Economic Development (DED), this has been due to the export of gol...
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