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25 May 2013

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Jet Airways today said its shareholders have approved the company's plans to offload 24 percent stake to Abu Dhabi-based Etihad Airways for around $379 million (Rs.2,058 crore).According to the company, the deal was ratified at an extraordinary meeting of Jet's shareholders held here. However, the adoption of a new set of rules relating to 'articles of association' was deferred and will be taken u...
Source : Headlinesindia | 6 Hour(s) AgoCategory : Business
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India Business News, Petroleum Minister M. Veerappa Moily, Reliance Industries, Gas PricePetroleum Minister M. Veerappa Moily today refuted allegations of government favouring Reliance Industries (RIL) as "malicious" and said the proposed revision in natural gas price would apply to all companies.The allegations of favouring RIL were made here at a press conference Thursday by CPI member of parlia...
Source : Headlinesindia | 6 Hour(s) AgoCategory : Business
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the rupee touching nearly 9-month low against the US dollar, Reserve Bank of India [] said on Friday it would continue to take steps to check excessive volatility in the currency market."Reserve Bank will continue to manage the exchange rates as hitherto, targeting on curbing excessive volatility rather than any specific levels," RBI Executive Director G Padmanabhan said at the 8th Annual Conferen...
Source : Rediff | 7 Hour(s) AgoCategory : Business
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shares rose as much as 6.65 per cent on Friday after its January-March quarterly operating profit beat analyst estimates.] posted an adjusted standalone operating profit of Rs 3,300 crore (Rs 33 billion) in the previous quarter, compared to its forecast of Rs 2,760 crore (Rs 27.6 billion).Tata Steel shares gained even as it posted a bigger-than-expected net loss, following a writedown.: Tata Steel...
Source : Rediff | 7 Hour(s) AgoCategory : Business
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reported a net loss of Rs 495.53 crore (Rs 4.95 billion) for the fourth quarter ended March 31, 2013 compared to loss of Rs 298.12 crore (Rs 2.98 billion) in the same period year-ago.Total income from operations declined to Rs 3,921.92 crore (Rs 39.21 billion) in the March quarter from Rs 4,041.61 crore (Rs 40.41 billion) in the year ago period, Jet Airways [For the full year ended March 31, 2013,...
Source : Rediff | 7 Hour(s) AgoCategory : Business
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ommitting to strengthen Sebi, Prime Minister Manamohan Singh on Friday asked the capital market regulator to eliminate insider trading and take steps to encourage small investors to invest in equities." regulation should be guided by the need to increase transparency and lead to higher investments being channelized into productive endeavours, which strengthen our economy," he said at the silver ju...
Source : Rediff | 7 Hour(s) AgoCategory : Business
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Etienne Benet is currently the Chief Executive Officer of Nestle Central and West Africa Region.Ltd has announced that Antonio Helio Waszyk, Chairman and Managing Director, shall step down from the position of Managing Director with effect from October 01, 2013, to take up a new assignment within Nestle Group. He would continue to be the Non-Executive Chairman of the Company.Etienne Benet would ta...
Source : Indiainfoline | 7 Hour(s) AgoCategory : Business
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a bid to shore up its market share in the two-wheeler segment, Japanese auto major Yamaha's Indian subsidiary launched today a new variant of its automatic scooter Ray.According to the company, Ray Z has been developed to target young male users between 16-22 years with the concept of “aggressive sporty design” priced at Rs.48,555 (ex-showroom New Delhi).The new variant comes a year after the laun...
Source : Headlinesindia | 6 Hour(s) AgoCategory : Business
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Rupert Murdoch's News Corporation is separating its publishing titles from its entertainment businessNews Corp has announced it will officially split its publishing and entertainment businesses on 28 June.Its board approved the separation into two firms, which will both be headed by the current chairman and chief executive Rupert Murdoch.The publishing firm will retain the News Corp brand, while t...
Source : BBC | 6 Hour(s) AgoCategory : Business
a bid to combat the menace of pesky calls and SMSes, sectoral regulator Trai has decided that telecom facilities given to subscriber would be immediately disconnected if it is found being used for sending unsolicited communication.Name and address of such subscribers shall be entered into a blacklist and no resources would be allotted to these subscribers for a period of two years in such cases, T...
Source : Rediff | 7 Hour(s) AgoCategory : Business
India spent over 85 per cent of its Rs 6,000-crore (Rs 60-billion) equity infusion last year on clearing pending staff salaries, paying off aircraft loans and interest and its debt to oil companies and airport operators.Of the Rs 6,000 crore received in 2012-13, the airline spent Rs 1,803 crore (Rs 18.03 billion) on pending staff salaries, paid off Rs 1,253 crore (Rs 12.53 billion) as jet fuel due...
Source : Rediff | 7 Hour(s) AgoCategory : Business
nfosys executive co-chairman and president of the Confederation of Indian Industries Kris Gopalakrishnan on Friday heaped praise on Gujarat Chief Minister Narendra Modi, describing him as ‘a global leader’."It is a privilege to share the dais with Modi, under whom the state has progressed in all aspects," said Gopalakrishnan at the launch of The Hindu Business Line's Ahmedabad edition on Friday."I...
Source : Rediff | 7 Hour(s) AgoCategory : Business
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