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The rupee on Tuesday closed five paise up at 44.78/79 against the US dollar on bullish local equities and easing of crude oil prices. Dealers said that the main reason behind the rupee rise was distinctly firm local equities and also increased portfolio investments. Fresh sale of dollars by exporters and some banks also supported... 

HYDERABAD: The Income-Tax department and Mahindra Satyam were restrained by the A.P. High Court till March 31from operating the accounts that the company has in various banks. A Division Bench on Friday made the interim order in a writ petition filed by Mahindra Satyam challenging the action of the Central Board of Direct Taxes... 

We have seen a fairly strong performance by the Indian rupee. At the moment, rupee has been in the range of 44.68. It is a four month high for the rupee itself. This is happening in the context of higher crude prices. It’s a bit unusual, but export performance has been very good. Q4 is usually a good quarter for the rupee... 

AHMEDABAD: General Motors India said it would not hesitate to cut down on the number of employees in the wake of the current downturn in the auto industry. The remarks from its senior official came at a time when no end was in sight to its nine-day strike. The strike was called against unfair labour practices and the workers... 

NEW DELHI: American billionaire Warren Buffett reiterated that he wanted to pursue business opportunities in “the country on the move,” when he met Prime Minister Manmohan Singh and a group of parliamentarians, separately, on Friday. The 80-year-old CEO of US conglomerate Berkshire Hathaway , on his maiden visit... 

After a three-week respite, food inflation is back to haunt us. Data released on Thursday show food inflation measured by wholesale prices at 10.05% for the week ended March 12, up from 9.42% the previous week. Any hope that the spike is a one-off development and inflation will soon resume its downward trajectory is belied... 

Former telecom minister Arun Shourie today appeared before the CBI in connection with the 2G case and said that the real issue involved kickbacks and not the policy pursued for spectrum allocation. Calling for A Raja to turn “approver,” Shourie said that the first-come first-served argument being used by the government was... 

The International Energy Agency said today that increased oil supplies from Saudi Arabia are heading for the Mediterranean Sea after the conflict in Libya shut in more than half of the country’s production. Violent clashes between opponents of Libyan leader Muammar Qaddafi and forces loyal to him have reduced the nation’s... 

Mumbai, Feb. 25: MphasiS Ltd, the independent software subsidiary of Hewlett-Packard (HP), plunged 28 per cent on the bourses today after reporting a dismal set of quarterly numbers and grave accusations of poor corporate governance standards. On the BSE, the scrip crashed Rs 178.10, or 28.43 per cent, to Rs 448.40 as investors... 

NEW DELHI: Chairman-cum-managing director of National Aluminium Company Ltd (Nalco), A K Srivastava, his wife Chandni and two others were arrested by the CBI on Friday. Srivastava was accused of accepting bribes running into several lakh rupees. The CBI recovered 10 kg of gold, and about Rs 30 lakh from the Srivastavas. The...