India services PMI hits 10-month high in December

An employee sets a table inside a restaurant at the Crown Plaza hotel, run by the InterContinental Hotels Group (IHG), in New Delhi January 31, 2014. REUTERS/ANINDITO MUKHERJEE/FILES Growth in India’s services firms rose at its fastest pace in 10 months in December as demand picked up, a business survey showed on Wednesday. The Nikkei/Markit Services Purchasing Managers’ Index surged ... Read More »

India’s coal imports fall for sixth straight month in December

Workers unload coal from a supply truck at a yard on the outskirts of Ahmedabad April 15, 2015. REUTERS/AMIT DAVE/FILES India’s coal imports fell for a sixth month in December, a government official said Wednesday, as the world’s third-biggest buyer of the fuel expands domestic mines to boost output and expand power generation. India shipped in 12.35 million tonnes of ... Read More »

Sensex extends losses for third session, closes at three-week low

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India, August 24, 2015. REUTERS/DANISH SIDDIQUI/FILES The BSE Sensex closed at its lowest level in three weeks as worries over a weak Chinese yuan and escalating geo-political tensions in Asia after North Korea said it tested a hydrogen bomb weighed on markets. The broader ... Read More »

Indian refiners need to invest $4.5 billion to produce Euro VI fuel by 2020 – Nitin Gadkari

A vehicle waits to be filled up with diesel at a petrol station in New Delhi, India, January 5, 2016. REUTERS/ANINDITO MUKHERJEE Indian refiners need to invest 300 billion rupees ($4.5 billion) to produce Euro VI complaint fuel, Road Transport Minister Nitin Gadkari said on Wednesday. India has advanced the date for country-wide implementation of Euro VI compliant fuels by ... Read More »

Barclays Plans to Shut India Equities Business: Report

Barclays Plc plans to shut its India equities business as part of the British bank’s efforts to slash costs and boost profit, two sources with direct knowledge of the development said on Monday. Barclays equities business in India, which was rolled out in 2011, includes research and broking services for institutional investors, and it employs about two dozen people, the ... Read More »

VLCC Gets Sebi Nod for Rs 400 Crore IPO

The Securities and Exchange Board of India (Sebi) has given clearance to beauty and wellness firm VLCC Health Care to raise at least Rs 400 crore through IPO to fund its expansion in domestic as well as international markets. The firm, which had filed draft red herring prospectus (DRHP) with capital market regulator Sebi on September 23, seeking permission for an IPO, obtained clearance from ... Read More »

Wipro Names Neemuchwala as New CEO

Wipro Ltd has named Abidali Neemuchwala as its new chief executive, as India’s third-largest software services exporter looks to regain market share from larger local outsourcing competitors. Mr Neemuchwala, who joined Wipro as group president and chief operating officer from rival Tata Consultancy Services Ltd in April last year, will start in his new role from February 1, the software ... Read More »

IOC to cut diesel, petrol prices from Friday

A worker prepares to fill a jerry-can at a fuel station in Kolkata January 18, 2013. REUTERS/RUPAK DE CHOWDHURI/FILES Indian Oil Corp (IOC) will cut the price of diesel by 2.3 percent from Friday and that of petrol by 1 percent, reflecting changes in global fuel prices. The retail price of diesel will be cut by 1.06 rupees a litre, ... Read More »

Number of UK house sales down, but prices up by 4.5%

Sales during 2015 were 8% lower than in 2014 due to an ‘acute shortage’ of properties on the market Salford has benefited from the relocation of the BBC and other broadcasters. Photograph: Bloomberg/Bloomberg via Getty Images Salford and Pontefract were two hotspots, but 2015 was a relatively poor year for house sales due to an “acute shortage” of properties coming ... Read More »

Review launched after airport shops found to not pass on VAT savings

Chancellor blasts ‘unacceptable’ practice that sees some stores keep 50p in every £1 of VAT discounts, without passing them on Travellers in the summer threatened to not show boarding cards when making purchases. Photograph: Steve Parsons/PA The government is launching a review into airport retail taxes after revealing that shops are ripping off travellers by failing to pass on up ... Read More »