Rupee touches record low, breaches 55 mark vs US dollar
Posted Date : 21-May-2012 , 06:13:28 pm | Posted By CASANSAAR
The rupee continued its downward spiral on Monday and breached the record low of the 55 mark against the American dollar, according to reports. Finance minister Pranab Mukherjee on Sunday had said the steep fall in the rupee was a matter of great concern and the centre was trying to ...
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Rupee dives to 54.91, recovers
Posted Date : 18-May-2012 , 03:43:29 pm | Posted By CASANSAAR
The rupee on Friday hit a new low of 54.91 to the dollar in afternoon trade, hitting the third consecutive record low in three days, but recovered shortly to trade at 54.71.The tumble came on increased capital outflows and strong demand from importers for the American currency. Traders said tha...
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Facebook IPO: Issue priced at $ 38 per share, set for listing today
Posted Date : 18-May-2012 , 08:24:33 am | Posted By CASANSAAR
Facebook is set to raise up to $18.4 billion in its initial public offering (IPO) and become the first US company to be worth more than $100 billion at its debut, as investors bet on a big pop in the stock when it begins trading on the Nasdaq on Friday.
Frenzied demand, especially from indi...
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Facebook IPO to make Mark Zuckerberg pay $903 mn (Rs.5000 Cr.app) in taxes
Posted Date : 07-May-2012 , 07:46:51 am | Posted By CASANSAAR
The US tax authorities are in for a major windfall from Facebook chief Mark Zukerberg, as the upcoming IPO of the social networking giant could make him pay in taxes as much as $ 903 million (about Rs 5,000 crore). Interestingly, his total estimated tax payout amounts to more than 85 per cent o...
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India reviewing tax treaty with Mauritius
Posted Date : 04-May-2012 , 05:06:18 pm | Posted By CASANSAAR
The government is considering a review of India's tax treaty with Mauritius to raise inflows of Foreign Direct Investment through that country. In reply to a question in the Lok Sabha today, Minister of State for Finance S.S. Palanimanickam said a substantial percent of foreign investment in th...
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Facebook sets USD 28-35 price range for IPO
Posted Date : 04-May-2012 , 05:01:32 pm | Posted By CASANSAAR
Facebook, which is gearing to launch its IPO later this month, today said the offering will be priced between USD 28-35 a share.
In a regulatory filing, Facebook said it will sell 337.41 million shares and the initial public offering price will be between USD 28 and USD...
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US Transportation Dept slaps USD 80,000 fine on Air India
Posted Date : 04-May-2012 , 04:57:15 pm | Posted By CASANSAAR
The US Transportation Department has slapped a USD 80,000 fine on Air India for failing to post customer service and tarmac delay contingency plans on its website and adequately inform passengers about its optional fees.
This is the first penalty assessed for a violation of the Department's new a...
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This year will be crucial for global economy: ADB
Posted Date : 03-May-2012 , 01:52:57 pm | Posted By CASANSAAR
Financial crisis in Europe could escalate and along with slow recovery in the US, this year will be crucial for global economy but Asian nations must continue long term structural reforms while insulating the region against the troubles, ADB said today. "While authorities continu...
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India's exports cross target
Posted Date : 01-May-2012 , 06:09:33 pm | Posted By CASANSAAR
India's exports grew 21 per cent and marginally crossed the exports target at 303.7 billion US Dollars in 2011-12 over the previous fiscal. According to the Commerce Ministry data released today, imports shot up by 32.1 per cent to 488.6 billion dollars, leaving highest-ever trade deficit of 184.9 b...
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Global employment situation alarming: ILO
Posted Date : 30-Apr-2012 , 01:42:42 pm | Posted By CASANSAAR
The International Labour Organisation (ILO) today warned that the global employment situation is alarming and unlikely to improve soon. The agency said that austerity measures, especially in advanced economies, were hurting job creation.In a report, the ILO said the situation was likely to get worse...
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Governance concerns weakened business sentiment in India: IMF
Posted Date : 28-Apr-2012 , 06:01:55 am | Posted By CASANSAAR
The International Monetary Fund (IMF) has said governance concerns have weakened business sentiment in India, calling for a revival in the reform process in its regional outlook released on Friday.Asia-Pacific Regional Economic Outlook said domestic factors have also played a role in India's gro...
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Credit rating agency S&P revises India economic outlook to negative
Posted Date : 25-Apr-2012 , 12:53:12 pm | Posted By CASANSAAR
Credit rating agency Standard & Poor has revised India’s outlook to negative. The agency has reaffirmed sovereign credit rating at investment grade but suggested that the probability of a downgrade is now higher than before.
The agency sees little progress on economic reforms and believ...
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Income tax act amendment proposal not in line with global norms: Vodafone
Posted Date : 24-Apr-2012 , 08:02:09 am | Posted By CASANSAAR
Amid controversy over the government's decision to amend I-T Act with retrospective effect to bring into tax net overseas deals involving domestic assets, the British telecom major Vodafone on Monday said that the proposal is not in line with the international tax norms. "...the proposal to tax...
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Vodafone issues notice to Indian govt over tax proposal
Posted Date : 17-Apr-2012 , 10:42:12 pm | Posted By CASANSAAR
Vodafone has served on the Government of India a notice of dispute under the India-Netherlands investment treaty, in the latest escalation of the controversy over proposals in the Finance Bill, 2012.
The move enables Vodafone commence international arbitration proceedings should the yet-to-be-ena...
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World Bank selects Jim Yong Kim as its next President
Posted Date : 17-Apr-2012 , 08:22:35 am | Posted By CASANSAAR
US nominee Jim Yong Kim was Monday chosen as the next president of the World Bank, an appointment that continues the longstanding tradition of an American leading the Washington-based institution."Dr Jim Young Kim of the United States would be the next President of the World Bank," an official annou...
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China co to create 10000 jobs in India
Posted Date : 13-Apr-2012 , 07:57:23 pm | Posted By CASANSAAR
Power Construction Corporation of China said on Friday it had signed a $2.4 billion contract to build the second phase of a massive coal-fired power complex in southern India that will help meet soaring local demand for electricity.
The second phase of the project for India's Infrastructure Leasing...
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Govt to allow foreign direct investment from Pakistan
Posted Date : 13-Apr-2012 , 03:32:12 pm | Posted By CASANSAAR
India has decided to allow foreign direct investment from Pakistan, Trade Minister Anand Sharma said on Friday, hours before the two countries were due to open a trading post on the Wagah border in the latest sign of thawing economic ties.Liberalising heavily restricted trade and investment flows ...
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Govt seeks details from foreign entities in India
Posted Date : 11-Apr-2012 , 08:17:43 pm | Posted By CASANSAAR
A circular from the Internal Security division of the Ministry makes it mandatory for the entities to furnish all the details of those employed for carrying out liaison work in the country.
The circular came against the backdrop of allegations that some of the foreign entiti...
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Facebook picks Nasdaq to list its shares: Report
Posted Date : 06-Apr-2012 , 01:39:14 pm | Posted By CASANSAAR
Popular social networking site Facebook, which will soon launch its initial public offering, has zeroed in on the Nasdaq Stock Exchange to list its shares, a media report said. Billionaire Mark Zuckerberg-led Facebook has chosen the city-based Nasdaq over the New York Stock Exchange for its listin...
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Google launches 'Account Activity'
Posted Date : 30-Mar-2012 , 07:12:01 am | Posted By CASANSAAR
Search engine Google has launched 'Account Activity' -- a new service that collates activities of users on all Google-owned sites including the popular 'Gmail' and 'YouTube' offerings.
The service would provide information to the users on a monthly basis. "Sometimes it's helpful to step back and ...
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BRICS countries sign pacts to initiate trade in local currencies
Posted Date : 30-Mar-2012 , 07:07:20 am | Posted By CASANSAAR
The BRICS countries India, China, Russia, Brazil and South Africa on Thursday signed two agreements to initiate trade in their local currencies . Following the fourth BRICS Summit in New Delhi on Thursday, the five emerging economies also agreed on a joint working group to set up a development bank ...
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Kingfisher Airlines to suspend all international flights: Mallya
Posted Date : 20-Mar-2012 , 09:09:39 pm | Posted By CASANSAAR
Kingfisher Airlines will suspend all international flights, and has submitted a new flight plan to the country's aviation regulator. The airline will operate up to 125 daily local flights with 20 planes.The promoter of the carrier, Vijay Mallya, with other top Kingfisher officials, met ...
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Delhi High Court quashes criminal case against Microsoft
Posted Date : 20-Mar-2012 , 08:08:11 am | Posted By CASANSAAR
The Delhi High Court on Friday quashed criminal proceedings against Microsoft India, a fortnight after the company was exempted by a trial court in a similar case for hosting objectionable content online. Microsoft India is the only company, out of the 21 websites, against whom both criminal and...
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World Bank announces $4.3 bn aid to India
Posted Date : 15-Mar-2012 , 06:53:33 pm | Posted By CASANSAAR
The World Bank has announced 4.3 billion US dollar financial aid to India through a new innovative and flexible financing arrangement to help the country fight poverty. This arrangement has been designed in a way to maintain net exposure of the lending arm of World Bank, International Bank for ...
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Vladimir Putin wins back Russian Presidency
Posted Date : 05-Mar-2012 , 09:12:35 am | Posted By CASANSAAR
Russian Prime Minister Vladimir Putin has won Presidential polls. He secured a record third term in the Kremlin after recording a landslide victory over his four rivals. Exit polls and preliminary results gave him about 60 per cent of the vote, enough to give him a first-round victory over his ...
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Construction completed on world's tallest tower, the Tokyo Sky Tree
Posted Date : 02-Mar-2012 , 10:41:51 pm | Posted By CASANSAAR
The Tokyo Sky Tree, the world's tallest self-supported tower, has been completed. The structure is 634 metres high, and now dominates the Sumida ward skyline in northeastern Tokyo.
It beats out the 600m tall Canton Tower in China, and Canada's 553m tall CN Tower. It's also the planet's secon...
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Microsoft unveils Windows 8 for public test
Posted Date : 02-Mar-2012 , 08:59:18 am | Posted By CASANSAAR
Microsoft Corp has unveiled the first widely available test version of Windows 8, giving the public the first chance to try out the slick, new-look operating system it hopes will restore the company's fading tech supremacy.
Windows 8, as the first Microsoft operating system compatible with low-po...
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Citigroup to sell 9.9% stake in HDFC for up to $2.1 billion: Report
Posted Date : 23-Feb-2012 , 08:36:49 pm | Posted By CASANSAAR
Citigroup Inc plans to raise up to $2.1 billion by selling its entire stake in India's Housing Development Finance Corp (HDFC) on Friday, three source with direct knowledge of the deal told Reuters. Citigroup has launched the process to sell about 145 million shares, or a 9.9 percent stake, in H...
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CEOs average salary in India crosses Rs 2-cr mark: Study
Posted Date : 23-Feb-2012 , 04:08:24 pm | Posted By CASANSAAR
The average annual compensation for a CEO in India stands at over Rs two crore and is nearly 2.6 times the pay package for other top business executives in the country, as per a new study.
According to the top executive compensation report 2011-12, released by global management consultancy Hay Gr...
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Process on for consensus on FDI in multi-brand retail, says Pranab Mukherjee
Posted Date : 22-Feb-2012 , 07:51:08 am | Posted By CASANSAAR
The government said it is in the process of evolving a consensus on allowing 51 per cent foreign direct investment in the multi-brand retail sector. The policy to allow foreign retailers to open outlets in India, was put on hold by the government in the wake of strong objection from opposition an...
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