Archive for the ‘Business’ Category

Bill Gates told me that IIT is the place to look for talent: Warren Buffett

Bill Gates told me that IIT is the place to look for talent: Warren Buffett

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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... 

Hard times for India as inflation surges again

Hard times for India as inflation surges again

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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... 

Raja should turn approver, says Shourie, questions Maran too

Raja should turn approver, says Shourie, questions Maran too

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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... 

IEA Says Saudis Boosted Oil Shipments After Libyan Shut

IEA Says Saudis Boosted Oil Shipments After Libyan Shut

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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... 

Investors punish MphasiS scrip

Investors punish MphasiS scrip

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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... 

Nalco chief arrested by CBI for taking bribe

Nalco chief arrested by CBI for taking bribe

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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... 

Export ban on non-basmati, onion lifted partially

Export ban on non-basmati, onion lifted partially

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With the rice production in the country expected to rise, an Empowered Group of Ministers (EGoM), which met on Wednesday, decided to permit exports of up to 1,50,000 tonnes of three varieties of non-basmati rice at a minimum export price of $850 a tonne. These non-basmati rice varieties include Sona Masuri, Ponni Samba and Rose... 

Govt to SC: Will tax black money

Govt to SC: Will tax black money

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The Centre has informed the Supreme Court that black money stashed in tax havens abroad would be taxable income under the Direct Taxes Code Bill. It however, maintained its earlier stand on not revealing names of Indians who have stashed their money in foreign accounts. In its fresh affidavit, the government spelled out a host... 

Anil Ambani firms slump on bourses

Anil Ambani firms slump on bourses

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The Reliance Group, controlled by Anil Ambani, accused “unscrupulous corporate rivals” of spreading false rumours that led to a sharp fall in the group’s listed firms’ stock prices on Wednesday and saw investors in them lose around Rs.12,754 crore. The group has complained to capital market regulator Securities and Exchange... 

India’s Tejas dazzle participants at Aero India

India’s Tejas dazzle participants at Aero India

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Bangalore . India’s own first supersonic multi-role combat aircraft Tejas and light combat helicopter (LCH) dazzled participants at the Aero India 2011 on Wednesday with their breathtaking aerobatic manouveres at Air Force Station Yelhanka. It was for the first time that India’s indigenously developed fighter, including... 

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