Business News

South Korea's parliament on Friday ratified a free trade deal with India, opening the way to the elimination or lowering of tariffs on more than $15 billion in annual bilateral trade with Asia's third largest economy.

Shares of Lenovo, the world's No. 4 PC brand, rose by more than 3 per cent to a one-week intraday high after reporting second-quarter earnings on Thursday that blew past expectations.

G20 policymakers are agreed that it is too early to pull the plug on economic life-support packages as the global recovery is still fragile, British finance minister Alistair Darling said.

The FBI has charged 14 people, out of which five have already pleaded guilty, in a case related to the USD 20 million hedge fund insider-trading scam, the largest ever such case in the US.

The US central bank has retained near-zero rate regime to boost the country's fragile recovery and said cheap credit would continue for an "extended period".

The country's top Business Processing Outsourcing firm Genpact on Thursday reported a 1.7 per cent dip in its net profit for the third quarter ended September 2009, but upheld its full-year revenue guidance on the back of positive global cues.

Bolstering the world economic recovery and crafting a deal to fight climate change will be top of the agenda for G20 finance ministers meeting tomorrow in Scotland.

Media Moghul Rupert Murdoch is finding it harder than expected to introduce "pay walls", a business model to charge readers for browsing his newspaper websites in a bid to shore up revenue for the struggling print media.

Toyota Motor Corp reported on Thursday a surprise quarterly profit and halved its annual loss forecast as both sales and cost cutting exceeded forecasts, putting it on track to follow its Japanese rivals into the black next year.