Finance

Sensex recovers from 3-month low, ends 106 points up; Nifty settles at 7,650

The BSE Sensex and NSE Nifty rose on Monday after touching a more than three-month low earlier in the session as buying at lower levels supported market ahead of the US Federal Reserve meeting later this week. Investors were also somewhat comforted after data released late on Friday showed industrial output grew a much stronger-than-expected 9.8 per cent in October from ... Read More »

New Delhi tops list of Asia’s top cities for shopping: Survey

New Delhi has topped the list of Asia’s top cities for shopping, offering a treasure trove of goods through its blend of charming traditional markets and glitzy shopping malls, according to a new survey. New Delhi has topped the list for the best shopping city in Asia, followed by Bangkok and Singapore, according to a survey by TripAdvisor. “Shopping in ... Read More »

Retail lending cannot be the panacea for growth: SS Mundra

Reserve Bank deputy governor SS Mundra today warned banks against their excessive focus on retail lending, saying that the segment cannot be the panacea for growth and that too much of retail lending will also create its own problems. “Whatever has happened in the corporate financial world in the past couple of years, probably now everyone is moving towards retail ... Read More »

Mahindra & Mahindra to buy Italian car designer Pininfarina for $36 mn

Mahindra group, with interests in automobiles, finance and IT services, has agreed to buy Italian car designer Pininfarina for about 33 million euros ($36 million) to boost its design capabilities. The deal will be done via a new unit in which automaker  Mahindra & Mahindra Ltd will hold 40 percent and Tech Mahindra, the IT outsourcing arm, will own the ... Read More »

Sun Pharma to sell US-based manufacturing unit to Nostrum Lab

Drug major Sun Pharma today said it has sold its manufacturing unit in Ohio to Nostrum Laboratories Inc for an undisclosed sum as part of the company’s consolidation of manufacturing business in the US. Sun Pharmaceutical Industries said in a regulatory filing that one of its wholly-owned subsidiaries has entered into an agreement with Nostrum Laboratories Inc for the divestment ... Read More »

Janet Yellen must hike rates for ‘Fed up’ markets this week

It’s that time again: won’t they or will they? In either case, the US Federal Reserve and Janet Yellen are all set to destabilise the asset markets. The fact that this destabilising price action will play out sooner rather than later is the only silver lining of a potential 25 basis point rate hike on December 16th. Firstly, let us ... Read More »

Air India likely to make Rs 6 crore profit this fiscal, first since merger

For the first time since merger of Indian Airlines into Air India, the national carrier is likely to report an operating profit of about Rs six crores in the current fiscal, owing to a combination of factors including lower fuel costs and Dreamliner operations, among others. The Dreamliners (Boeing 787-800) are helping the company to turnaround it’s business in a ... Read More »

Pearson in talks to sell ‘the Economist’ magazine, says Financial Times

The Financial Times reports that its parent company, Pearson PLC, is in talks to sell its 50 percent stake in the Economist magazine. The report says the talks involve other shareholders in the Economist Group. The FT said Saturday its report is based on people familiar with the negotiations. It did not indicate a sale is imminent. Pearson is in ... Read More »

UAE may take time to deport IM financier, Pakistan using diplomatic channels to stall process

ndia’s efforts to get Abdul Wahid Siddibapa, the alleged financer of Indian Mujahideen terrorist group, deported from the United Arab Emirates have come to a nought, with the West Asian country making it clear that Wahid will be sent to India only after the lengthy process of extradition is complete. Wahid, who was caught in the UAE last year on ... Read More »

US Federal Reserve rate hike wrong move for emerging economies

An expected first interest rate rate in almost a decade by the Federal Reserve on Wednesday could squeeze emerging economies’ room for manoeuvre as they try to stave off recession, analysts warn. The rise would mark “the end of a very big illusion,” says Christine Rifflart, economist with French think tank OFCE. Emerging economies have done well out of the ... Read More »