Business

Banking, financial security firms to spend Rs.46,900 crore on IT in 2014

Indian banking and securities companies will spend Rs.46,900 crore on IT products and services in 2014, an increase of more than 10 percent over 2013, Gartner said Tuesday.

Pak-Afghan border sealed for two days

Pakistan sealed its border with Afghanistan, barring all forms of crossings for two days as part of its enhanced security measures taken for the religious festival Muharram, a media report said Tuesday.

Britain increases cold weather payments for vulnerable Scots

Britain will provide extra financial support to help low-income and vulnerable Scots pay their heating bills in the cold weather, Britain’s Scotland Office announced Monday.

Oil

OPEC daily basket price closes lower

The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) closed at $81.97 a barrel Friday compared to $82.79 Thursday, the OPEC Secretariat said

Lupin gets USFDA nod for anti-arthritis medicine

Pharmaceutical major Lupin Monday said that it has received final approvals for its anti-arthritis medicine Celecoxib Capsules by the US Food and Drugs Administration (FDA).

Bengal’s PPP tenement project to be complete by 2016

The Bonhooghly Tenement Project, a PPP initiative of the West Bengal government’s refugee relief and rehabilitation department, is expected to be completed by October 2016, the developers said Monday.

Bharti Softbank picks up 36.5 percent in ScoopWhoop startup

Bharti Softbank, a joint-venture between Bharti Enterprises and SoftBank Corporation, Monday said it has acquired a 36.5 percent equity stake in entertainment media startup ScoopWhoop Media Pvt Ltd through BSB Portal Limited.

Sensex closes flat, auto stocks down

A benchmark index of Indian equities markets ended Monday’s trade flat-- only 12.93 points or 0.05 percent up (provisional) - after touching a record high of 27,969.82 points in the early morning trade session.

Maruti launches new Alto variant

Passenger automobile major Maruti Suzuki Monday launched its next generation of the largest selling Alto K10 hatchback priced between Rs.3.06 lakh and Rs.3.80 lakh (ex-showroom Delhi).

Telangana signs MoU to buy 1,000 MW from Chhattisgarh

Telangana Monday signed a Memorandum of Understanding (MoU) with Chhattisgarh for purchasing 1,000 Megawatt electricity.

Land trade between India, Pakistan halted after Wagah blast

Land border trade between India and Pakistan was halted Monday following a suicide bomb attack at Wagah in Pakistan that left 60 people dead Sunday evening.

Sensex hits fresh record high

A benchmark index of Indian equities markets Monday touched a record high of 27,969.82 points, surpassing the previous high of 27,894.32 points hit Friday.

Tata Consultancy makes big image-building push at NY Marathon

In a massive image-building exercise, India’s Tata Consultancy Services flooded the metropolis with tens of thousands of its logo Sunday as the sponsor of New York City Marathon

Himachal CM invites 1,400 industrialists to business meet

Himachal Pradesh Chief Minister Virbhadra Singh has written more than 1,400 letters to leading industrialists for an investors’ meet this week, an official said here Sunday.

India’s e-commerce industry booms, public listing next

After foreign investors injected some mega millions into India’s e-retail companies in recent months, including the $627 million for SnapDeal by Japan’s Softbank

India centre gets nod for Airbus, Boeing pilot training

Pilot training facility FSTC has got an European regulator’s approval for training Airbus A320 and Boeing pilots, making it the only one in India to have the rating.

After foreign equity, realty industry needs funding reforms

The government’s recent policy initiative to ease foreign equity norms in construction by reducing the minimum capital requirement from $10 million to $5 million and built-up area from 50,000 sq mts to 20,000 sq mts

Gas

Medvedev signs discount on Russian gas supplied to Ukraine

Russian Prime Minister Dmitry Medvedev has signed a decree to apply a discount on export tariffs depending on the price of the gas supplied to Ukraine.

General Motors India sales down 45 percent in October

General Motors India sold 4,263 vehicles in October against 7,715 units sold in the corresponding period last year -- a drop of 44.74 percent, the company said Saturday.

Identify diseases attacking potato crop: Himachal governor

Himachal Pradesh Governor Urmila Singh Saturday stressed upon the need for identifying diseases posing a threat to potato crop and strategies to protect it from the effects of climate change

14th Finance Commission term extended till Dec.31, 2014

The term of the 14th Finance Commission has been extended by two months, till Dec.31, 2014, an official statement said here Saturday.

Women in majority in Brazil universities yet earn less

Women are in majority at Brazilian universities but still earn less than men in the job market, according to a study.

Gas

IGL not to hike gas prices

City gas distributor Indraprastha Gas Ltd (IGL) late Friday said it will not increase prices, although the government had announced a new price for domestic natural gas effective Saturday.

Posco not to quit Odisha project

South Korean steel major Posco Friday said it would not pull out of its Rs.52,000-crore steel project at Jagatsinghpur in Odisha.

CCFI alleges official data forgery on organic farming

The Crop Care Federation of India (CCFI), the apex body of the agrochemicals industry, has in a letter to the prime minister alleged data forgery by the commerce and agriculture ministries on organic farming in the country.

Court grants bail to former coal secretary, others

A court Friday granted bail to former coal secretary H.C. Gupta and others in the coal block allocation case against Madhya Pradesh-based Kamal Sponge Steel and Power Ltd.

Gadkari to attend Nepal Infrastructure Summit

India’s Minister of Road Transport and Highways Nitin Jairam Gadkari will deliver the inaugural speech in the first ever Nepal Infrastructure Summit-2014 in Kathmandu Nov 11.

Raja, others charged with money laundering, trial from Nov 11

The special court hearing the 2G spectrum allocation case has framed charges of money laundering against former telecom minister A. Raja, his party colleague and DMK MP Kanimozhi and others, and fixed Nov 11 for the commencement of the trial.

Kerala HC allows heritage, four-star hotels to serve liquor

Hours after a single-judge bench of the Kerala High Court Thursday allowed 62 heritage, four-and five-star hotel bars to operate from Thursday

Oman invites Indian firms to profit from its FTAs

Oman Thursday invited Indian business to set up base in the Gulf nation so as to access markets with which it has free trade agreements (FTAs) like those in its neighbourhood as well as the US.

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