Apple iPhone 5 Preorders Hit 2M, Shares Touch $700
September 18 2012 12:59 AM EDT
Apple Inc booked orders for over two million iPhone 5 models in the first 24 hours, reflecting a higher-than-expected demand for the consumer device giant's new smartphone and setting it up for a strong holiday quarter.
RBI Holds Repo Rate Despite 'Big Bang' Reforms
September 17 2012 5:03 AM EDT
The Reserve Bank of India (RBI) left interest rates unchanged but cut the cash reserve ratio for banks on Monday, disappointing market hopes that it would follow up the government's unexpected spate of bold reform measures by reducing borrowing costs.
India's 'Big Bang Friday' Reforms Might Just Stick
September 17 2012 1:35 AM EDT
There were quiet celebrations in the offices of Prime Minister Manmohan Singh late last week after he stunned the country with a slew of steps to revive the tanking economy.
Cabinet to Consider Aviation FDI on Friday
September 13 2012 5:57 AM EDT
The cabinet will consider a proposal on Friday to allow foreign airlines to buy stakes in local carriers, moving forward with a much-delayed reform that could revitalise debt-ridden domestic carriers.
India Hiring Outlook Weakest in Over 3 Years: Manpower
September 11 2012 3:49 AM EDT
Most U.S. employers are unwilling to add workers because of uncertainty around November's elections, the Federal budget, and the effect of Europe's slowdown, according to a quarterly hiring survey by ManpowerGroup. The pace of hiring is expected to slow in large emerging economies including China and India.
Poor Returns Cast Cloud over BRIC Equity Funds
September 11 2012 1:31 AM EDT
Investors fed up with years of poor returns are deserting BRIC equity funds, pushing share valuations to record cheap levels and questioning the future of the high-profile investment theme.
Low R&D Spend Threatens Auto Part Makers' Ambitions
September 09 2012 6:55 AM EDT
From Daimler trucks in Germany to tractors in Brazil, Rohit Saboo's Indian automotive parts are making their way into vehicles all over the world. But as he scales up exports to compensate for slowing growth at home, a lack of spending on innovation is undermining his sales pitch.
Pakistan, India Agree to Ease Visa Restrictions
September 09 2012 2:19 AM EDT
Pakistan and India will ease tough visa restrictions, an important step forward in improving relations between the nuclear armed neighbours, their foreign ministers said Saturday.
Air India Receives First Boeing 787 Dreamliner
September 07 2012 1:43 AM EDT
Air India took delivery of its first Boeing 787 commercial widebody airplane on Thursday at Boeing Co's final assembly plant after a months-long dispute between airline and manufacturer over compensation for a four-year production delay.
Finance, Oil Ministries Push for Fuel Price Increase
September 06 2012 12:21 AM EDT
The finance and oil ministries are lobbying for an increase in prices of diesel, kerosene and LPG, warning cabinet colleagues that time is running out to avert a fiscal disaster and a sovereign credit downgrade to junk by global ratings agencies.
GM Turns to China to Crack India's Tough Car Market
September 05 2012 12:14 AM EDT
General Motors Co began initial production of its first ever Chinese-designed car for the Indian market this week, a major step for the U.S. automaker as it tries to scale up in a market where foreign companies have struggled.
IT, Pharma Mutual Funds Top Performers in August
September 04 2012 4:39 AM EDT
IT sector funds were the top performers in August among Indian mutual funds that focus on domestic stocks as lower valuations of the sector's shares after their sharp declines in July revived investor interest.
Gold Hits 5-1/2 Month High on Stimulus Hopes
September 04 2012 12:33 AM EDT
Gold edged higher on Tuesday to the highest level in more than five months as lacklustre manufacturing data from around the globe fanned speculation of imminent easing measures from central banks.
Gold Near 5-Month High on Stimulus Hopes
September 03 2012 1:00 AM EDT
Gold hovered near a five-month peak on Monday, supported by hopes for more stimulus measures after U.S. Federal Reserve Chairman Ben Bernanke gave a grave assessment of the economy last week.
Odisha Halts Operations at Six Coal India Mines
September 02 2012 9:01 AM EDT
Authorities in Odisha halted operations at six mines of Coal India, the world's largest coal miner, after its environmental clearances expired, a senior government official said on Sunday.
India's Economic Growth Estimated Around Three-Year Low
August 31 2012 12:15 AM EDT
India's GDP growth likely languished around its lowest in three years in the quarter that ended in June, offering no respite for Prime Minister Manmohan Singh as he struggles to escape from a series of political scandals that have paralysed his economic agenda.
Govt Approves $4.1 Billion Green Vehicle Push
August 30 2012 12:16 AM EDT
The central government has approved a ?230 billion plan to spur electric and hybrid vehicle production over the next eight years, setting itself an ambitious target of 6 million vehicles by 2020.
Inflation Still a Key Threat, Says RBI Gov Subbarao
August 29 2012 1:16 AM EDT
Reserve Bank of India (RBI) Governor Duvvuri Subbarao said on Tuesday that inflation remains too high and needs to fall further or risk more damage to the economy, dismissing criticism of the bank's hawkish policy stance.
No Fast Growth Rebound for India Amid Downgrade Fears
August 28 2012 3:33 AM EDT
India's economy likely remained in its deepest slump for nine years in the quarter ending in June, but high inflation and polarized politics leave the country's leaders with limited scope to crank up growth.
Apple Seeks Quick Bans on Eight Samsung Phones
August 28 2012 12:57 AM EDT
Apple Inc is seeking speedy bans on the sale of eight Samsung Electronics phones, moving swiftly to translate its resounding court victory over its arch-foe into a tangible business benefit.