Business

Gas price hike fruitful if discoms buy costlier power: NTPC


With the government announcing increase in the price of domestically produced gas, state-run NTPC said the move will prove beneficial only if the power distribution companies buy the electricity produced from the plants consuming the costlier fuel. ....more »

Amazon India, Kishore Biyani’s Future Group announce strategic alliance


Amazon India and Future Group announced on Monday, a strategic alliance, that will leverage the strong product knowledge ....more »

Centre rolls out plan for higher ranking on ease of doing business


The Centre is set to roll out a two-pronged strategy to cut the bureaucratic red-tape that business have to face in India. ....more »

Alibaba IPO ranks as world’s biggest after additional shares sold


Alibaba Group Holding Ltd’s initial public offering now ranks as the world’s biggest in history at $25 billion, after the e-commerce giant and some of its shareholders sold additional shares. ....more »

Govt likely to cancel special economic zones of nine firms


The government may cancel the approvals granted to nine companies including Hindalco Industries, Essar and Adani for setting up special economic zones (SEZs) as no work has been done by the developing companies to execute the projects. ....more »

On financial inclusion indicators, Goa tops, Gujarat ranks low: Survey


The Prime Minister’s flagship financial inclusion initiative Jan Dhan Yojana may perhaps find its biggest challenge in Narendra Modi’s home state, Gujarat. ....more »

Indian firms among Forbes’ most innovative companies


Five Indian companies, including Hindustan Unilever and Tata Consultancy Services, are among Forbes’ list of the world’s 100 most innovative companies that investors think are most likely to “generate big, new growth ideas”. ....more »

Govt to push for mergers among small PSU banks


The government will use the arrest of Syndicate Bank chief Sudhir Kumar Jain to push for consolidation of the small public sector banks quickly. ....more »

FDI limits for defence, railways to be hiked; e-commerce to wait


The government is set to clear a higher limit of foreign direct investment (FDI) in railways and defence but a plan to allow foreign investment in e-commerce has been put on the backburner. ....more »

India blocks WTO deal on customs rules; members say veto could be costly


India blocked an agreement on new global customs rules, angering fellow members of the World Trade Organization who say Delhi’s veto could be costly, economically and politically. ....more »

‘Over Rs 1 lakh cr undisclosed income detected in FY14’


The income tax department has detected undisclosed income worth over Rs 1 lakh crore in FY14 from its search and survey operations, almost double of what it detected in the previous year. ....more »

Budget gives service tax evaders provision to clear dues


Service tax evaders have been given a window to clear their dues in the Budget 2014-15, at a lower rate of penal interest. ....more »

Govt may prescribe subsidy pill for pharma firms to upgrade plants


The Modi government is likely to offer a financing scheme to the domestic pharmaceutical industry, which is facing a high-pitched offensive from the US Food and Drug Administation (FDA) on quality, to upgrade their manufacturing facilities and meet stringent standards of the world’s leading export markets. ....more »

Black money: Swiss list of Indians will benefit greatly SIT, says Arun Jaitley


Finance Minister Arun Jaitley on Sunday described the reported move of Swiss authorities to share the names of Indian individuals and entities suspected to hold untaxed money in Swiss banks as a “significant development which will greatly benefit the newly formed SIT”. ....more »

India vows action, warns hoarders after May inflation spike


India is committed to easing bottlenecks that have caused inflation to spike, Finance Minister Arun Jaitley said, blaming energy costs and “speculative hoarding” for a rise in wholesale (WPI) inflation that contributed to an investor selloff on Monday. ....more »

Govt working towards liberalising labour laws to boost factory jobs


The NDA government has begun a fresh review of the country’s labour laws that have remained unchanged since Independence, and tailor them to meet the needs of the National Manufacturing Policy with an aim towards boosting growth in the manufacturing sector. ....more »

Nearly 82 percent Indians See Brands As 'Aspirational Symbols'


More and more consumers in India now prefer to go for branded products, with 82 per cent of them looking at brands as aspirational symbols and improved standard of living, according to a recent study. ....more »

India's defence budget is one third of China: Pentagon


India's annual defence budget is just one-third of that of China despite the tensions that remain along their shared border, according to a Pentagon report. ....more »

It’s official: Reliance now controls news broadcaster Network18


India’s largest private sector company Reliance Industries Ltd today announced its acquisition of the country’s largest news broadcaster Network18 Group that through its subsidiary TV18 Broadcast Ltd operates a set of channels including CNN-IBN, IBN7, CNBC-TV18 and CNBC Awaaz. ....more »

India, Pakistan may shake hands on electricity, hydrocarbons


New Delhi and Islamabad, thanks to their newfound bonhomie following Pakistan premier Nawaz Sharif accepting the invite to attend the swearing-in ceremony of Narendra Modi as Indian prime minister, are looking to seal a deal soon in trade in electricity and hydrocarbon products. ....more »

Policy sensitive stocks gain ahead of big change


Policy sensitive stocks may continue to benefit from the positive market sentiments created by the BJP victory. ....more »

New government set to inherit wobbly economy


India is on the cusp of political change that is widely expected to infuse a new life into an economy that is struggling to break away from a tale of weak growth and high inflation. ....more »

BSE Sensex gains 46.30 pts, logs fresh record closing high, ends FY14 on cheerful note


Stock markets ended 2013-14 fiscal on a positive note with the BSE Sensex rising by 46.30 points to fresh record closing high of 22,386.27 on buying by foreign funds in select oil, metal and banking stocks ahead of RBI policy meet. ....more »

India won’t intervene to check WhatsApp voice


When Bharti Airtel CEO Gopal Vittal says the Telecom Regulatory Authority of India (Trai) needs to regulate the entry of players like WhatsApp — scheduled to launch a voice call service ....more »

Boost for Raghuram Rajan: RBI should hike rates more to tame inflation, says IMF


The International Monetary Fund on Thursday has recommended India to go for interest rate hikes. It has also revised its previous forecast upwards to a 4.6 per cent GDP growth in FY14, which would improve to 5.4 per cent in FY15. ....more »

SpiceJet offers 30 per cent discount on tickets, reignites airfare war


No-frills carrier Spicejet today extended its special fare offer and announced a 30 per cent discount on tickets on domestic routes for a limited number of seats. ....more »

Fake Luxury Products Market In India To Double By 2015: Study


The counterfeit luxury retail market in India is likely to double to 5,600 crore by 2015 and steps such as effective intellectual property enforcement are the need of the hour to curb this menace, an Assocham study says. ....more »

Google Inc. buys 'smart' thermostat maker Nest for USD 3.2 bn


Google Inc. has announced that it is buying smart thermostat start-up Nest in a deal valued at USD 3.2 billion. ....more »

India considers easing gold import curbs: Govt sources


Indian officials are in discussions to cut a record high import duty on gold and relax rules on exports, government sources said, after the measures helped narrow the country's trade deficit and now threaten to encourage smuggling. ....more »

Bangalore to see 2nd highest office demand in Asia during 2014


IT hub Bangalore is expected to witness the second highest demand for office space in the Asia ....more »